SPC104 - Interview - Brad Tacia - Mechanical Engineer transitions from SFH to MFH

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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: bradtacia@gmail.com

Facebook & Linked In – Brad Tacia

Facebook Page - Apartment Investors of Michigan

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