Ligia and Mike have been investing in real estate since 2006 while balancing demanding corporate careers. In 2016, they found themselves both unemployed, with two daughters in college, a hefty mortgage and plenty of other bills to pay; they chose not to reenter the corporate rat race and instead embark on Life 2.0 They charged into real estate full-time, building a thriving, vacant land investing venture. The husband-wife duo has more recently transitioned to commercial real estate and are currently partners in over $50 million of commercial assets across more than 1,000 multifamily units located in multiple markets. The Deaton’s love enjoying the ultimate lifestyle design, hiking the mountains in their hometown of Colorado, all while making a meaningful impact to both communities and investors.
Let’s dive in to learn more about land investing and how Mike and Ligia went to becoming entrepreneurs from being employees.
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[00:01 – 08:38] Opening Segment
- Mike talks about their background.
- How they started land investing as a side hustle.
- How their side hustle turned into a real six-figure income business.
- How taxes led them to couple their business with multifamily.
[08:38 – 17:55] Overcoming Fears
- How Mike overcame his fear to step into the world of entrepreneurship.
- Why they decided that they could step out of the safety net of a corporate career.
- Ligia gives some context on her background.
- How Mike’s travels because of his job became a motivating fact for Ligia to start investing.
- The importance of identifying and facing your fears to be able to move forward.
[17:55 – 42:57] Land Investing to Multifamily
- Mike gets into more detail about how they started land investing.
- How Mark Podolsky’s guide helped Mike and Ligia to start land investing.
- The upsides of land investing.
- Why land investing is a low-risk type of investment.
- How the tax bills for land investing led Mike and Ligia to invest in more depreciable assets.
- Why they prefer 3k to 5k worth of lands and how that helps.
- The importance of finding a mentor.
- How and why they progressed towards being active investors on the multifamily side.
- How Mike and Ligia grew as partners.
- Contact Mike and Ligia:
Links below
[37:08 – 38:20] Round of Insights
Apparent Failure:
Mike’s first marriage.
Most Recommended Book:
Mindset: The New Psychology of Success
Daily Habit:
Their daily routine
Number One Insight for Investing
Dig in deep and get to know your lead sponsors.
Best Place to Grab a Bite in Colorado
Bart’s House
Contact Mike & Ligia:
To learn more, you can go to Mike and Ligia’s website.
Click here to listen to Mark Podolsky’s episode on land investing.
Tweetable Quotes:
“Mistakes can be super costly. So you owe it to yourself to have a good coach or mentor .” – Mike Deaton
“I try to see things not as failures but as learnings and as a course correction along a path.” – Mike Deaton
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