Financial freedom requires a passive income that meets three requirements:Your income outpaces inflation: Inflation continually erodes the purchasing power of a fixed amount of money.

🤷‍♂️Love this post and what Scotty posted.Congrats on your success thus far.As much as I love real estate and business it never is passive and never will be totally passive unfortunately.There is always a risk component involved and a reliance on someone.There will always be that gut wrenching phone call that makes the stomach turn.It all come's down to how much is enough for someone to live a happy life.I unofficially retired at 28 and am back chasing now at 36.Parents and family are getting older and have a huge will and in a way pressure to retire my old man.A beautiful person and father.I've checked off mum and uncle from the list hahaFew more to go lolI am and always will be a "real estate guy" per se but a few years ago I asked myself this question:"How can I get the highest possible return, with the least amount of risk, without doing any work and without involving anyone else?"

I would also like to do my first business deal with somebody so I can learn an gain experience from that person.

We're passive aggressive investors at the moment.

My long term REI goal is to generate $120k per year in passive income (this number is always going up to account for inflation).

Tripping over dollars to pick up pennies.Even when investing in your local market one should think about making it as passive/hands off as possible.Not right away but over time for sure.As the cliche saying goes "Working on the business and not in the business"Investing in real estate shouldn't just become another job.Easier said than done but still, this should be every investors focus IMO.Happy Weekend bro 🙏 there was a case where an Aussie citizen decided they were going to save money and come to detroit to do their renovations themselves.. got in a arguement with someone and boom shot dead.  

Developing contacts with wholesalers, going to neighbourhood real estate events, and networking with other real estate professionals can all help you gain access to off-market acquisitions.Utilise direct marketing techniques to get in touch with property owners directly.

Start creating some cashflow and passive revenue.

On sales, the owner portion has it's own basis, depreciation, capital gains and the rental has it's own basis, depreciation and gains.

There's still a lot of work that goes into the "passive" route.