Fri, 18 August 2017
Landing your first multi-family deal is much like pushing over the first in a series of dominoes: The second and third deals fall in rapid succession. In most cases, it is possible to replace your income one to three years from the moment you decide to change your life.
Brad Tacia’s story adheres to this Law of the First Deal. He was an engineer by trade, working for an auto parts manufacturer in Detroit. Though he survived the recession, Brad knew that he needed a backup plan. He began his foray into real estate with single-family homes, using a portion of his 401(k) to facilitate the investment.
Brad reached a turning point when he realized just how much of his daughter’s life he was missing. To speed up the process of achieving financial freedom, Brad and his wife used the Dave Ramsey program to cut their expenses and pay off their house—which allowed them to fund their first multi-family deal with a home equity loan. Brad’s second and third deals followed quickly on the heels of the first, and in two years, he had replaced his income. Brad quit his W-2 job, and now he controls 160 apartment units total. Listen as he explains his experience with Dave Ramsey’s Financial Peace University, how he funded his first three multi-family deals, and his secrets to becoming financially free in just two years. He also shares his knowledge around syndicating deals as well as the details of how his life has changed, making every day feel like Saturday!
[4:26] Brad’s motivation to try real estate
[6:36] What precipitated Brad’s shift to multi-family
[7:16] How Brad funded his first multi-family deal
[8:14] Brad’s experience with Financial Peace University
[11:23] Brad’s next two multi-family deals
[13:23] How Brad developed the confidence to do his first multi-family deal
[14:01] Brad’s advice around funding multi-family deals
[15:19] Brad’s experience syndicating deals
[16:41] Brad’s secrets to becoming financially free in two years
[18:00] The significance of the first deal
[19:27] How Brad found time to do real estate on the side while working a demanding job
[20:20] How Brad’s life has changed
[22:30] Brad’s perfect day
[23:22] How Brad wants to be remembered
[24:34] Brad’s best advice for aspiring multi-family investors
Connect with Brad
The Millionaire Real Estate Investor by Gary Keller
Direct download: MB_073_-_How_Every_Day_Can_Feel_Like_Saturday_-_With_Brad_Tacia.mp3
Category:Commercial Real Estate -- posted at: 1:44pm EDT