Join me and Vince as we chat with David Pere about his journey going from being in the military to successfully getting into real estate and eventually starting The Military Millionaire Podcast. David is an active-duty Marine who dived into the real estate business in 2015. From house-hacking a duplex with FHA loan, and buying a 10-unit apartment in Missouri while stationed in Hawaii, he has definitely come a long way! He made it his mission to teach personal finance and real estate investing to service members and the working class!
From Military to Millionaire
Just like most people who have gotten into the industry, David attributes the beginning of his real estate jump to the book “Rich Dad, Poor Dad”. In less than 3 months from reading it, he decided to house-hack a duplex and figured that it works, and that he wants to keep doing it.
He realized that he prefers the buy-and-hold approach in investing because once the property is purchased, and you have a good team in place, you don't have to do very much with it, and it will grow over time. Since then, he had purchased several buy-and-hold investments and has started his own company.
To him, real estate investment is not that complicated and anyone who wants to try it, should just go for it and make that jump. However, he pointed out the importance of learning everything you can about the industry and setting your goals from the beginning.
Getting into Podcasting
David shares how his desire to document what he was doing was what got him to start on podcasting. He thought about starting a blog but couldn't think of anything else to talk about. And then, out of nowhere, The Military Millionaire Podcast was born with the goal of teaching service members and veterans how to build wealth through real estate investing, entrepreneurship and personal finance.
About David Pere:
● David is an active-duty Marine
● David is a Command Financial Specialist (military finance advisor)
● He is a buy-and-hold investor in residential, commercial, and multi-family real estate.
Outline of the Episode:
● [1:19] - David shares how the "Rich Dad, Poor Dad" book inspired him to start investing in real estate.
● [2:49] - How’s it like buying in this new COVID reality we're in?
● [5:26] - When starting in real estate, you have to learn everything you can.
● [8:05] - Why does David prefer the buy and hold strategy?
● [9:28] - David recounts how he was able to acquire a 10-unit property through creative financing.
● [13:30] - David talks about capital financing and the property he acquired in Missouri.
● [16:31] - A lot of people get into real estate, but they don't set out with a goal in mind.
● [19:39] - David gets into the most costly mistake he made.
● [24:15] - Easy ways to tweak and save on expenses!
● [29:39] - What are the benefits of having a podcast?
● [31:56] - David shares how he got into podcasting.
● [36:14] - The difference between LP and GP
Resources:
● From Military to Millionaire
○ Website
○ Podcast
○ Youtube
● "Rich Dad, Poor Dad" by Robert Kiyosaki"
● "The Multi-family Millions" by Dave Lindahl
● "How to Invest in Real Estate" by Brandon Turner & Joshua Dorkin
The Cashflow Project
This is for busy professionals who are looking for financial freedom through passive income, with a focus on cashflow assets in Multifamily Real Estate. We will be covering a variety of topics such as buying, managing, and selling real estate assets, specifically apartments.
To learn more about us, visit tricityequity.com