The Military Mindset for Making Money w/David Pere
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Episode Description
Welcome to the Freedom Point Real Estate podcast! David Pere joins today's show to discuss how he went from negative networth to a millionaire in five years, why he is passionate about teaching military service members and veterans, and what mindset is necessary for financial success.
Dave is a 13 year Marine Corps veteran who spends his time helping service members and veterans achieve financial freedom through real estate investing, entrepreneurship, and personal finance! In 5 years he went from a negative net worth, to millionaire with 100+ rental units and was able to transition off active duty to work for himself.
CONNECT WITH DAVID PERE!
Everything: https://thebestpodcastguest.com/
Website: https://www.frommilitarytomillionaire.com/
LinkedIn: https://www.linkedin.com/in/david-pere/
Youtube: https://www.youtube.com/channel/UCQElNqStWjEBDFNVnXkh1ng
CONNECT WITH JEREMY DYER!
Website: https://startingpointcapital.com/
Instagram: https://www.instagram.com/startingpointcapital/
LinkedIn: https://www.linkedin.com/in/jeremydyer
Facebook: https://www.facebook.com/startingpointcapital
Book a Call! https://calendly.com/startingpointcapital/discuss-investing-with-jeremy-dyer?month=2023-12
Summary
Tip #1: Start with Your 401k – It’s Your First Building Block
"If you set it up like this in boot camp and never touch it again, you'd be a lot better off than I was."
Setting up a 401k from the beginning of military service can lay the groundwork for long-term financial stability. Dave emphasizes that even minimal contributions, left untouched, can lead to substantial growth over time. By automating savings early, service members can avoid common spending traps.
Tip #2: Avoid Buying Toys – Invest First
"I blew money I don’t even know where it went…from the cars and motorcycles to eating out and partying."
Dave recounts the all-too-familiar cycle of unnecessary spending that plagues many young service members. Instead of splurging on flashy purchases, he advises investing in properties or savings accounts that yield long-term returns. The focus should be on assets, not liabilities.
Tip #3: Real Estate is a Slow Game – And That’s Okay
"Real estate is boring, and that’s why it works."
Dave highlights that successful real estate investing isn’t about quick wins but about consistent, incremental progress. Buying properties one by one allows for growth over time. Patience and persistence are key, especially when dealing with tenants and property management.
Tip #4: Use Deployment Pay Wisely
"I got back from Afghanistan with a new Harley and no money left after that."
Dave urges service members to resist the temptation of blowing deployment pay on temporary luxuries. He recommends using extra income to invest in real estate, stocks, or savings, building wealth instead of depleting it. Deployments present unique opportunities to grow financially if approached with discipline.
Tip #5: House Hacking Can Eliminate Housing Costs
"Get into a duplex, live for free, and save what you would’ve spent on rent."
Dave introduces the concept of house hacking—buying a duplex, living in one unit, and renting the other. This method reduces living expenses while building equity. Service members can maximize housing allowances by turning their residence into a source of income..
Tip #6: Resist High-Interest Loans and Car Payments
"The Porsche I’m buying in 2025 is because I didn’t buy the Charger at 25% interest."
Dave emphasizes the importance of avoiding high-interest loans for depreciating assets like cars. He suggests waiting until investments generate enough income to pay for luxury purchases. This approach reframes how service members think about large purchases, encouraging delayed gratification.
Tip #7: Learn from Mistakes – They’re Valuable Lessons
"I’m the relatable guy who did all of them."
By sharing his financial missteps, Dave creates a connection with listeners. Mistakes, he argues, can serve as invaluable lessons if they lead to smarter future decisions. His transparency helps listeners feel less alone in their financial struggles.
Tip #8: Transitioning Out of the Military is Harder Than Expected
"Even if you’re financially set up, the mental part is tough."
Dave touches on the underestimated challenges of transitioning out of the military. Beyond finances, the shift requires emotional and psychological preparation. Veterans should plan not just for money but for purpose and structure post-service.
Tip #9: Focus on Building Wealth, Not Flexing It
"People make finance look sexy by showing what they can buy…but the actual work is boring."
Dave stresses the value of focusing on wealth-building over showing off. Investments aren’t glamorous in the early stages, but consistent effort compounds into meaningful financial freedom. The key is sticking to the fundamentals.
Tip #10: Seek Guidance and Learn Continuously
"I wanted a single place I could point people towards—everything I wish I’d known."
Dave’s book serves as a guide for service members to avoid the pitfalls he encountered. By seeking mentorship, reading, and learning from those who’ve already navigated the path, listeners can accelerate their financial growth.
