Episode 413: Operating with a Profit-First Approach, with David Richter

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David Richter is an active real estate investor who has been essential in closing over 850 deals which include wholesale, turnkey, BRRRR, owner finance, rentals, lease options, and any other exit strategy you can think of. While growing and building a real estate business from 5 deals a month to over 25 deals a month, he realized that as much money was coming in, it was going right out. With the unique opportunity of being in every seat as a real estate investor, he found a calling to the company's finance seat to help them see where their money was really going. David has helped real estate companies completely turn around from going out of business to building cash reserves through his profit advising company Simple CFO Solutions, LLC. He is the author of Profit First for Real Estate Investing. His goal in life is to completely transform the Real Estate Investing industry when it comes to how real estate investors view their finances and – bring them true financial clarity and freedom.

What you'll learn about in this episode:

• Why your business structure is leaving you with little to no profits
• How the profit-first business model can help ensure you get paid
• How practicing wealth habits will change the way you approach business and life
• Why you need to ignore the noise in order to properly scale your business
• Why every business – no matter what size – needs a CFO

Resources:

Everyone is always asking us, "How is it possible to buy real estate without using my own cash or credit?" With decades of combined experience in real estate, we've perfected the process of investing creatively. We want to share as much as we can with you, which is exactly why we're running this FREE workshop! If you're thinking about leaving your job, escaping the W-2 lifestyle, and starting on the path towards creating generational wealth — this is for you! To register, just visit: smartrealestatecoach.com/pcws.

Schedule a free strategy session with us. This is an opportunity for you to have an honest conversation with our team about your background, investment goals and create some action steps toward creating the life of your dreams. Together we'll discover where you are, where you want to be, and what's in the way. Just visit: smartrealestatecoach.com/action.

Our free Master's Class is the ONLY webinar where you're given the exact techniques we use in our family company to buy and sell homes every month — all across North America and ALL on TERMS! Register by visiting: smartrealestatecoach.com/mastersclass

The Wicked Smart Investor's Toolkit is a great way to dip your toe in the water of buying properties on terms. Here you'll receive seller scripts, our investor blueprint, be able to listen to live calls, and much more! Enroll for free at smartrealestatecoach.com/tools

The Quantum Leap System has everything you'll need to start buying and selling on terms (without banks and without your own money or credit), launch & scale a business that fits your goals, and strengthen your mindset so you can follow the proven path to becoming a successful real estate investor. You can learn more by visiting: smartrealestatecoach.com/qls.

For additional information on lead generation, funding, mindset coaching, legal assistance, virtual staffing, and business growth, visit the Investor Resources section of our website at: smartrealestatecoach.com/resources.

Follow Chris and Zach on Club House to learn even more about deal structures and how to get 3 paydays from your real estate investments.

Chris's Book: Real Estate on Your Terms by Chris Prefontaine

Instant Real Estate Investor eBook: SmartRealRstateCoach.com/ebook

Find our next workshop here: https://smartrealestatecoach.com/workshop

QLS Live – September 13-15, 2023: www.QLSLive.com

If you're looking to secure some lines of credit for your business, check out Fund and Grow: www.Smartrealestatecoach.com/fundandgrow

Learn more about Associate Coaching Program Funding here: www.smartrealestatecoach.com/funding

90-Day Jump Start: www.smartrealestatecoach.com/jump

Nat Processing Website: www.natprocessing.com

Request a free copy of our best-selling book, Real Estate On Your Terms and Deal Structure Overtime, at absolutely no charge: WickedSmartBooks.com

Additional Resources:

Know and Grow Your Cash Flow, with David Richter No-Obligation Discovery Call