Wealth Strategy Secrets of the Ultra Wealthy Podcast

From Navy to Financial Freedom: How Gary McDermid Engineered Passive Wealth with Real Estate & Tax Strategy

May 14, 2025
Gary McDermid, a former Navy officer turned entrepreneur and cash flow engineer, shares his remarkable journey toward financial freedom through real estate investment and strategic planning. He reveals how military advice sparked his wealth-building path and discusses overcoming self-limiting beliefs. Gary delves into the integration of real estate with tax planning to enhance cash flow and wealth generation. Plus, he highlights key insights from his book, ‘Set Your Own Goals or Someone Else Will,’ focusing on mindset shifts essential for achieving personal goals.
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ANECDOTE

Navy Advice Sparked Real Estate Start

  • A master chief advised Gary to buy real estate at every military station, sparking his wealth-building journey.
  • He bought his first home at 21 and continued investing while serving as a nuclear officer on aircraft carriers.
ANECDOTE

Real Estate Win-Win Model

  • Gary used a win-win real estate strategy, helping families who couldn't buy homes get ownership and generate passive income.
  • This model replaced his active income with growing, passive cash flow assets systematically.
ADVICE

Buy Business for Passive Income

  • Set acquisition criteria so you can buy businesses that generate passive income without needing to be actively involved.
  • Work on systems within the business, not in day-to-day operations, to achieve scalable cash flow.
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