SPC104 - Interview - Brad Tacia - Mechanical Engineer transitions from SFH to MFH
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The Wealth Elevator Podcast: Real Estate, Taxes, Investing · The Wealth Elevator Podcast
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Show Notes
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Pardon the grammar - I'm an Engeneer, Enginere, Engenere... I'm good with math! Here are the Show Notes:
Doing one house gets you started to gain momentum
Han solo moment was went when into MFH
At first wife was nervous in the beginning but with success came on board
Moved to MFH when had 5 units and 2k in cashflow
SFH is the way to go to learn to rent and pick out a property manager but its a personal question
Worse moment was seeing 2008
A pain point that forces people to make a change
Working up to expenses plus 20k
Do a little bit each day
Set goes every year - 40-50 goals - review once a week
Personal Background
Grew up in Oxford, Michigan
Graduated from General Motors Institute/Kettering University in Flint, Michigan in 2000 with a Bachelor’s in Mechanical Engineering
Married to wife, Lindsay and have 3 kids together
Started engineering career in 2000 and progressively moved up in position and responsibility to an engineering manager
Currently a program manager for automotive supplier Brembo
Real Estate Projects
Purchased primary residence in White Lake in 2008 as a foreclosure and rented out old primary residence in Madison Heights – “accidental landlord”
First intentional rental was a 3 bed 2 bath house in Waterford in 2011, added 3 more in Waterford from 2012-2014
Bought 12 apartment units in Monroe, Michigan in 2015
Bought 12 more apartment units in Monroe, Michigan in May 2016
In due diligence on a 63 unit apartment building in Lansing, Michigan
Goal is to retire my day job 2 years from now. From there, options I am looking into are real estate syndication and home inspecting
Success Habits
Keep a quarterly finance sheet to keep track of Net Worth, Assets, Liabilities, Income, & Expenses
List out yearly goals for family, finance, health, learning and track each week
Make sure to do things daily to get closer to goals
Dave Ramsey
Lifestyles Unlimited
REIs for networking
Checklists
Books
Millionaire Real Estate Investor – Gary Keller
Rich Dad Poor Dad – Robert Kiyosaki
The Complete Guide to Buying and Selling Apartments – Steve Berges
48 Days to the Work You Love – Dan Miller
What Color is Your Parachute - Richard Bolles
The Slightest Edge - Jeff Olson
Compound Effect - Darren Hardy
Quotes
“Leverage is key to wealth” – In regards to money, time, knowledge
“Money is on the other side of fear”
“Most people overestimate what can be done in the short term and underestimate what can be done in the long term”
“If you give a house a cookie…”
"What gets measured gets done"
“Spectacular achievement is always preceded by spectacular preparation”
“Those who say it can’t be done should get out of the way of those doing it”
“Go as far as you can see, once you get there, you will see farther”
“Play the game of money to win, don’t play not to lose”
“Don’t quit when you are tired, quit when you are done”
“Make sure your ladder to success is on the correct wall”
Contact Info
Email: [email protected]
Facebook & Linked In – Brad Tacia
Facebook Page - Apartment Investors of Michigan
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