Jan 18 2022 45 mins 1
Join Vince as he chats with Chad Tucker about the mindset on having an end goal. Chad is a real estate investor in Central Florida. Being a full-time firefighter was not enough for Chad, so it pulled him towards becoming a multifamily investor. Today, he explains how the mindset he calls “time freedom” will improve life. There’s a lot to unpack, so stay tuned and enjoy the episode!
Time Freedom
People in general work to earn money. The more money a person makes meant they live a stable life. Yet, the common scenario is that they lose time because they spend it more working. That is not what Chad wanted. He desires to take control of his time while at the same time earning. He wants to be in charge of his life. It took some mindset shift for Chad to add value to what he already does. While he already makes enough for a living, he realizes it is acceptable to want more. His end goal is to have the freedom to wake up every day and decide whether to go to work or take the day off to hang out with friends, visit his parents, or even take a vacation. Because of that end goal in mind, Chad got into multifamily real estate.
Back then, Chad was doing wholesaling. It was great, he admits, but it does not feel right for him. He tried fix-and-flips and single-family deals, but it felt like it took forever to achieve his end goal. Chad then looked at syndications and joint ventures in multifamily. He fits perfectly well. Chad wanted to bring value to people, and he is good at handling people under pressure. Right there and then, Chad found the long-term equity growth he wanted to achieve his end goal of time freedom.
About Chad Tucker:
Chad Tucker has been a multifamily real estate investor in Central Florida for the last year and a half. Currently, he is partnered on 16 units that recently closed. Besides investing in real estate, Chad is a full-time firefighter in the Orlando area, married, and has four kids. Chad uses his love of helping others and ability to work in high-pressure situations to make deals happen in two of the nation’s hottest housing markets (Tampa and Orlando).
Outline of the episode:
● [00:45] Chad’s background and how he started in real estate
● [05:14] Why begin something with an end goal in mind
● [09:43] How Chad found his 16 units
● [14:12] Decisions and mind shifts to see one’s worth
● [18:05] What kind of deal is a value add
● [24:53] The power of networking and building relationships
● [28:19] What is the seven-year term and what is its IRR target
● [31:43] Some obstacles Chad faced on building his company
● [33:27] Chad’s next move
● [35:03] What Chad would advice his 20-year-old self
● [38:49] Chad’s book recommendations, superpower and biggest lesson learned
● [40:42] Tips for financial freedom from a busy working professional’s perspective
Resources:
● Website
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