Ep. 16 | A Physician’s Guide to Financial Freedom with Eric Tait

Dr. Eric Tait shares the financial independence of transitioning from a career in medicine to owning and operating investment firms. Eric breaks down the different ways an individual can become financially independent, explaining how chose real estate as his path due to the stability and potential for passive income it provides. He also discusses the importance of educating oneself on important financial topics, and how mentorship can be instrumental in achieving success. 

Eric Tait is an Investment Fund Manager with Vernonville Asset Management (VAM) LLC, a private investment firm that helps investors attain or maintain financial independence using alternative assets. Eric is also a Physician who is board-certified in Internal Medicine. Under Eric, VAM has grown to over 150 million dollars in assets internationally and domestically, these include the Hilton Curio Resort in Belize, numerous Triple Net Commercial and Light Industrial assets, multi-family apartment homes, student housing, specialty coffee farms in Boquete, Panama, and dozens of single-family homes, private lending funds, and Angel Investments. 

[00:01 - 12:47] Opening Segment

• Introducing Eric to the show
• Pursuing a career in medicine
• Eric’s educational background

[12:47 - 25:19] Getting Into Real Estate

• Eric shares how he got into real estate
• Houston’s most successful real estate investors

[25:19 - 38:01] The Brain Power Needed for Building Wealth

• You can’t rent an apartment for twice the market average
• How to transition from engineer to real estate investor
• How W2 professionals should transition properly into real estate 
• Being aware of the different types of businesses they are in and what type of risks they are taking

[38:01 - 47:16] How to Navigate the Turbulent Waters of Real Estate

• Being aware of outside factors that can't be controlled by the sponsor or operator
• Deciding what financial life goals you want to achieve, and then finding someone to help them achieve those goals

[47:16 - 50:54] Closing Segment

• See the links below to connect with Eric
• Final words

Quotes:

"I just take what mentors see and what they're doing and apply it to my life. And then I drag my investors along with us if they want to go from that standpoint." - Eric Tait

"When you see a deal that falls in your parameters pull the freaking trigger." - Eric Tait

Connect with Eric on LinkedIn, or visit www.vernonville.com.

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Download resources and join our private investor group at www.engineeringpassiveincome.com 

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