Profit First for Real Estate Investors with David Richter

“Build a business. Don’t just focus on hustling.”Wise words from this episode’s special guest, and that is no other than Josh Culler. He is a creative soul with over ten years of experience in content production. Josh made his way into real estate with a vision to serve missionaries. With utmost determination, he’s able to widen his horizons in the real estate world. According to Josh, there’s been a substantial difference in how his business has flourished while following the profit first strategy. Let us find out how he’s been using this as a tool to get to where he’s at today. Get ready to be inspired and learn how to manage your finances in the best way possible.Key Takeaways [2:37] Josh’s background in real estate.[6:51] The reason why he decided to do real estate full-time?[9:43] Finding his purpose by supporting missionaries.[12:35] His journey as an entrepreneur on the financial side of the business.[14:47] How the pandemic changed the real estate pacing for real estate investors?[16:37] The value of delegation and implementing the profit first strategy to his business.[18:02] The profit first is truly profit-driven, and there’s been a substantial difference on where we’re at right now.[19:13] What early lessons did he learn about money vs. what does he think about money now, and how does he use it?[24:54] Josh talks about his books and the process of writing them.[29:50] The relevance of media consulting.Quotables[8:57] “Purpose is changing all the time.”[12:55] “A lot of business owners get into this trap where they’re so focused on the craft and not building a business.”[13:37] “Build a business, don’t just focus on hustling.”[13:35] “Hustle is for a season, not a lifestyle.”[28:41] “Get the content you’re already creating and make sure that it’s getting out in the world and they get to know who you are.”LinksReal Estate Masterminds-https://www.facebook.com/groups/calltend1/Tools of Titans by Tim Ferriss-https://www.amazon.com/Tools-Titans-Billionaires-World-Class-Performers/dp/1328683788REI Marketing Weekly Podcast- https://podcasts.apple.com/us/podcast/rei-marketing-weekly/id1501711912REI Marketing Book-https://reimarketingbook.com/Profit First Audiobook-https://www.audible.com/pd/Profit-First-Audiobook/B06X15WX5BCuller Media - https://cullermedia.com/Profit First For Real Estate Investors- https://m.facebook.com/groups/2110639412415407?group_view_referrer=search Josh on Instagram - https://instagram.com/thecontentninja?utm_medium=copy_linkWant to 2-3X your profit? If you want help implementing Profit First and increasing your revenue in your business, you can go here to book a call. I’d love to chat and see how I can help you make and keep more money in your business.

Jeremy and Joshua Mathis, also known as the “Mathis Twins,” are here to provide you with actionable tips in this exciting new episode. The two are best known for their dynamic not only as brothers but also as lifelong business partners. The twins dabbled their way to businesses that both gave them profit and learning lessons. They have an excellent pang for real estate and have completed numerous real estate transactions.Indeed, these two are a force to be reckoned with when it comes to money-making.Today, we will be hearing the ups and the downs of their journey. We will also listen to their insights on how you can handle your money correctly and be financially smart. Jeremy and Josh will also talk about how they both benefit from the Profit First system. KNOW and GROW your CASH FLOW click that play button NOW!Key Takeaways [1:31] What got them started out for the real estate investing journey?[2:31] How long have they been into real estate?[2:50] The ups and downs of their real estate journey[4:04] How much are they doing in terms of deal volume?[5:18] How is it like working with each other and how does their dynamic work as a team?[7:13] What are their first thoughts and concepts about money?[9:09] Joining big groups such as Masterminds[9:26] What lessons about money do they want to pass onto their children?[12:00] Experience of the Profit First system [13:50] The benefits of the profit first system [15:28] Thoughts on having a CFO on the team[17:52] Recommendations and advice that they have in store for the audienceQuotables[5:33] “The trust is there and we can hold ourselves to a different level of accountability.”[6:19] “We lean on each other a lot and that’s something that I’ve been realizing”[10:23] “ I want them to understand that in order to earn money, you have to work for it.”[12:49] “Once you start becoming engrain and deceitful of the profit first bond you start to understand that, it’s something that’s awesome”[18:16] “Once you start breaking bad habits you’ll see the benefits, why you need to break those habits and it just starts rolling from there”[18:53] “You can always make more money but you can’t make more time”LinksRich Dad Poor Dad by Robert Kiyosaki-https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194Mathis Twins on Instagram-https://instagram.com/mathistwins?utm_medium=copy_linkWant to 2-3X your profit? If you want help implementing Profit First and increasing your revenue in your business, you can go here to book a call. I’d love to chat and see how I can help you make and keep more money in your business.

Luke Harris was a forester and a forestry consultant. Due to the nature of his work, doing timber inventory and all, he was always traveling, and with a young family of his own, he thought it wasn't the kind of sustainable way to raise his family. His goal was to provide for his family and provide a situation for them that he didn't have to be gone all the time. Thanks to Google, where he found notable gurus in the industry, Luke was able to kickstart his real estate business through land-flipping. After three years, it became a full-time gig that paid the bills and sustained his family. He now runs his company “The Farm Finders”, which specializes in providing affordable properties by finding unimproved land and offering it at affordable prices.Growing up, Luke learned the value of money and the discipline one needs to manage money correctly. In this episode, he talks about the importance of securing your business by putting enough cash in the bank to protect it, whatever crisis hits the economy. He also shares how the Profit First system helped him build that kind of discipline he employed to maintain a good standing around the financial side of his business.Listen as Luke drops a lot of knowledge bombs and philosophies around money on this episode.  Key Takeaways[01:32] Luke’s background in forestry and what got him going down the real estate path[03:19] The average deals he sold each year after starting in real estate[06:07] Why real estate? Is there a purpose behind it?[08:37] Luke’s role models about money and the value of giving[11:39] Lessons around money he wanted to pass on to his children[15:59] How Profit First helped him make habits of being a profitable company[19:12] What it’s like having a CFO in his team [20:41] Luke’s recommendations to investorsQuotables[05:15] “The keys to your success were trying to model someone who had gone down this path and getting that mentorship from someone”.[13:49] “Cash balance, personally and in the business, is important especially at some point where we're going to be having another recession or economic downturn and that’s the number one way that you can be prepared for that as a business owner.”[21:10] “Making sure you have a really big cash reserve before you scale is incredibly important.”[21:27] “A lot of businesses will probably go under with whatever economic crisis we have coming…But I think having that cash in the bank, it's like the number one thing you can do to protect your business against that.”LinksEmail Harris at harrislandcompanylb@gmail.com Want to 2-3X your profit? If you want help implementing Profit First and increasing your revenue in your business, you can go here to book a call. I’d love to chat and see how I can help you make and keep more money in your business.

Vance is the founder of SOS Home Offers. He found his purpose in real estate and has dedicated his knowledge industry to impacting other people and helping them see results and succeed in the real estate world. Prior to that, he served in the military. He learned something from his mate, who is always buying a home whenever they move in order to keep it in the hope to have two retirements. That stayed with him even after he got out of the army. So he started buying homes with the intent of holding them. It had always been that way until 2016 when he realized it was a very long-term play. He wanted to get into the game faster and looked for turnkey investment properties, but it didn't work so well for him - he even lost $40,000. Lesson learned.He then started finding investment properties and created a rental business that earned him a lot of revenue. And this is where, like any other business, some financial management issues arose. But with the help of the Profit First model, he was able to get a deeper understanding and control of the financial side of his business and is now growing more than ever. Listen in as we discuss how he effectively applied the method and how the whole concept helped him in directing money in his business.Key Takeaways[02:22] Vance’s journey of getting started in real estate[05:19] The “why’ behind getting into real estate[07:43] How the finances play in bringing in the top dollars and keeping it too[09:31] Finding his identity and purpose in the real estate world[12:10] Understanding the metrics and the KPIs[14:41] How Vance implemented the Profit First system and its result[21:07] Vance’s recommendations to investorsQuotables“If I'm doing the same thing over three times, I'm going to automate it.”“I believe firmly that your wealth isn't created in real estate. I really don't believe that. I believe it's preserved through real estate and wealth is created through businesses.”“Making money is actually not the hard part. The hardest part I'm having is finding my identity, my purpose.”“I believe that when you're in a servant mindset, the money will follow. So I don't stress or worry about the money and let's just serve the people.”LinksSOS Home Offers https://www.soshomeoffers.com/ Want to 2-3X your profit? If you want help making more money, book a FREE Discovery Call  https://simplecfosolutions.com/apply/

Notes are a great way to invest in real estate. They’re not something that everyone knows about, but if you’d like to start creating passive income without much effort, notes could be an excellent option for you. There are many benefits to buying notes, and one thing that should be your main reason is the potential for unlimited passive wealth. And that exactly is what our guest will share with you today.Eddie Speed has almost 40 years of solid experience in buying notes and has purchased more than 50,000 notes in his entire career. He is also the founder of NoteSchool that has bought 3.5 billion dollars in notes. Now, that’s huge!Eddie focused on the seller financing and non-performing note industry and is now helping people leverage in the real estate industry. So, if you think you are one of those people he can help get started in this industry, let Eddie explain the benefits you should focus on and give you some strategies that have helped him succeed in this niche.Key Takeaways[02:02] Eddie's background and how he started with NoteSchool[05:25] How he created solid wealth through note buying and real estate investing[06:32] What he discovered from designing note systems for real estate investors[07:40] How to build a business that doesn't take a lot of energy and becomes your own little bank[12:20] How to leverage note buying in today's booming real estate market[14:44] Best strategies to get started in creating wealth with notes [18:37] How to win landlords to sell or finance you on the acquisition of rental properties[20:23] Techniques on creating long-term passive income through rental properties [22:44] The biggest pitfalls in buying notes you should avoid[25:37] What Eddie's business has been doing so far[28:34]  Lessons about money Eddie wants to pass on[30:00] Eddie's advice for the real estate investorsQuotables“If your income is growing faster than your net worth, you're growing in the wrong direction.”“You are giving a landlord what they want. And as a result of that, they're going to be willing to sell or finance you on the acquisition.”“I've seen a lot of people that have done really well and wake up 10 years from now. And you think what happened to them? And I think it's because they lost a perspective of what they thought was money and how they utilized it.”“Your network is your net worth”. Don't go to some social media site and ask people the deepest, darkest, most important decisions you need to make in your life, unless you understand the competency of the person giving you advice.”LinksA Whole New Ball Game With Creative Financing www.noteschool.com/getstartedWant to 2-3X your profit? If you want help making more money, go to https://simplecfosolutions.com/apply/

Have you wanted to start in real estate investing, but don’t know how to get started? Do you want to build a business that lasts for generations to come? Our guest, Cody Caswell is a 3rd generation real estate investor who shares his family’s hard-earned lessons on the power of collaboration, building your business to scale, and accumulating generational wealth.  From avoiding the pitfalls of doing everything DIY to the systems you need to create a solid financial foundation – you’ll learn firsthand from Cody on how he started his real estate journey with his first rental at 16. [01:32] Growing up in a real estate investing family[03:25] Buying his first rental property at 16 [05:08] Getting an internship in a brokerage in the US[06:38] Choosing his path to flip and build homes[09:00] Childhood lessons about money Cody [12:54] The results of implementing the Profit First system[17:38] An insider’s look on scaling up a real estate business[21:30] Recommendations to investorsQuotables“You can't let money do its own thing, because it will. You have to give every dollar a job.”“Before you try to do something big, before you really try to scale, get everything in order before you do that.”“Lay that foundation solid, get your finances in order, get your business in order, figure out exactly the trajectory you want to go and have somebody ready to go there with you, and then hit the ground running and then do it.”“I'm a big believer that thinking small is just as hard as thinking big, if not harder. So think big.”“It's a lot easier to work with people and do big things than it is to work by yourself and do small things.”LinksConnect with Cody:Email: cody@ivory-company.com   Instagram: https://www.instagram.com/codycaswellrealestate/ Facebook: https://www.facebook.com/cody.caswell.3 Want to 2-3X your profit? If you want help making more money, go to https://simplecfosolutions.com/apply/

Do you want to get a FLOW of steady Highly Motivated Seller leads that has little to no competition?In this episode, you’ll hear from our guest Tony Javier who is a TV marketing mastermind, author, and a business coach who helps real estate investors exponentially grow their leads and deal flow. Tony has 20+ years experience in the real estate space and has closed over 1000 flips by utilizing TV ads as his main marketing channel. If you own a real estate business, then you know how hard it is to be successful in this cut-throat competitive industry. When prospects show a hint of interest in a property, they’re bombarded by all sorts of messages from the robo phone calls, mass texts, emails, direct mail, and even knocks on their front door! The secret to grabbing sellers attention is to utilize a marketing channel produces the highest quality leads in an automated, targeted, and systematized way. Learn how Tony Javier has scaled his real estate investing business and maximized his deal flow by tapping into TV advertising.So, pay attention and click play to get started!Key Talking Points of the Episode[01:56] Tony’s background and expertise in real estate [03:11] How Tony made tax-free money from buying and refinancing properties [04:54] TV commercials as the number one lead source to scale your marketing and business[07:37] Past vs Current mindset around money[10:01] Why business owners undervalue what they provide[12:39] Lessons to pass onto the next generation[16:49] Why TV marketing is the best marketing channel[19:05] Launching Tony’s coaching program that helps real estate investors implement and maximize their results from TV marketing. [22:17] The right time to start TV AdsQuotables“Money is way more accessible than people think…You don't need money to get into this business. You don't need money for anything. You just need access to money.” “If you add enough value to people and you add enough value to what you're doing, you can charge a lot of money. If you under-promise, over-deliver, provide good customer service, your clients are going to pay you as much as they think it's going to be worth.”“Get yourself surrounded by like-minded people that are going to lift you up and get you to that next level.”“Don't hire cheap, hire great. The cheaper they are, you're going to get what you pay for. So sometimes, you just have to pay a premium.”LinksWant to increase your revenue by 2-3X? If you want help making more money, click here. To learn more about Tony, check out his expertise with TV and his podcast.

We often hear “rags to riches' stories, but today, we’re taking you on a rollercoaster story of someone who started as a young millionaire, got hit by bankruptcy, and had to reset to make it all back and more.Matt Theriault became a millionaire when he was only 30. When He got out of the Marine Corps, he spent the next several years in the music business, living the dream and the life, making lots of money. Little did he know that this luxury lifestyle would end soon after the music industry shifted to digital download.  Matt shares the struggles he went through after his business was hit by bankruptcy, how he worked below-average income jobs to make ends meet, and finally how he overcame it all to make more money than he ever had beforeKey Talking Points of the Episode[01:55] Matt’s real estate journey [05:33] How discovering how to make real wealth in real estate transformed Matt[07:13] Starting out as a Real Estate Agend and Matt’s first deal[11:47] His mindset about money and the definition of wealth[15:01] How Profit First creates a wealth mindset[20:32] Velocity Investing[22:34] Matt’s advice on streaming cash, paying yourself first and using assets to buy more assetsQuotables“Real estate, it's the final frontier where the average person has a legitimate shot at creating real wealth.”“And certainly I would have never discovered it and never would have stumbled upon it unless, you know, I had that great upset in my life.”“Having experienced both of those large bank accounts, but having to work and then a small bank account and not having to work, I liked the smaller bank account and not having to work better.”“And in the opening chapters, [Rich Dad, Poor Dad] Mike was just, he was really reading my life. Like you make a lot of money, but at the end of the year, you don't have any left. You just keep on spending every single thing that you make. And it doesn't matter how much you make, you just find a way to spend it. And I was like, you know what, you're right.”“Real financial freedom comes from streaming cash rather than saving cash.”“Pay yourself first and then pay your bills with what's left over.”LinksEPIC Real Estate | Download your free Real Estate cheat sheets https://www.epicbreakthrough.com/?r_done=1 Join the Profit First for real estate investors Facebook grouphttps://www.facebook.com/groups/ProfitFirstREI CFO Solutionshttps://cfosolutions.com/ 

It can be scary to take the next step you know you need to do for your real estate business, especially if you’re just starting out in the industry. A lot of people get hung up on what formula is best or if they should be tracking their expenses or income first. Meanwhile, they lose out on thousands or even hundreds of thousands of dollars while they figure it out. What if I told you that there are steps to help you make and keep more money in your pocket that are very simple and easy to follow?In this episode, I discuss the ‘Instant Assessment'. It’s the first step on your Profit First journey; the actual steps to becoming a thriving, profitable real estate business. So pay attention and be ready to get real with your finances and yourself!Key Talking Points of the Episode[01:00] What is the ‘Instant Assessment’[01:43] 3 numbers you need to run an ‘Instant Assessment’ [04:12] What you made - what you spent = what you keep[05:15] Why you should not mix your business and personal bank accounts[06:58] Being honest with yourself is the first step [08:28] An ‘instant assessment’ into how we handle money[09:52] Ask yourself: Where do you want to take your business?Quotables“What is the instant assessment? It's really to get you where you are right now in your business”.“If you're mixing business and personal, [bank accounts] you're making it harder for yourself.”“If you can get those percentages and those numbers, and be honest with yourself, that is the first step.”“If we can just face those facts and say, we can do better from here. That's what the instant assessment is all about. Honestly, it's an instant assessment into how we handle money.”“You have to be very real with yourself about where you want to take your business.”LinksWant to connect with David or work with his team to 2-3X your revenue? Check out his website hereWant the proven system to make and keep more money in your business?  Click here to get your copy of David’s latest book Profit First for Real Estate Investing. Want to see how real estate investors are growing their cash flow & reserves while paying themselves first? Join our private Facebook group here to learn, grow, and connect. 

Understanding the importance of keeping your profit positive is critical for any real estate investor. David Richter is a speaker, author (Profit First for Real Estate Investing), CFO and an active real estate investor who has been essential in closing over 850 deals. He started his profit advising company (SimpleCFO) to help owners make more money, keep more money, and have more time to spend with their loved ones. In this exclusive webinar, you’ll learn the secrets to how to transform your real estate investing business from a cash-eating monster to a money-making machine. You may have used other methods to keep your books, but once you understand Profit First, you may be surprised how easy the method actually is. Listen to this podcast to learn more about the basic principles of Profit First and how those principles can help real estate investors build wealth with their businesses.Key Talking Points of the Episode03:03 The wrong formula to use to run your Business 04:12 The Profit First formula: Sales - Profit = Expenses08:12 Reasons why businesses are hurting10:25 Why do we have financial insecurities11:39 What inspired David to start his businessQuotables“Profit First is about your owners' benefit; you getting the maximum benefit from your business.”“Make sure your company is healthy and then whatever's left over is the expenses.”“Sales minus profit equals expenses means the business lives off of the leftovers from your profit.”“If you can internalize the formula of taking your profit first and making it a habit and not in a nebulous event at the end of the year, that's what's truly going to help you.”“What is Profit First? It's really that mindset. It's the mindset of “I’m going to make sure I know that I'm profitable.”“Profit First is really about internalizing the concepts of “My profit does come first” and there's nothing wrong with that.”“I started my business because I wanted to make sure that I could help other people get over the same insecurities I had about money.”LinksWant to connect with David? Check out his website here.Do you want help making and keeping more money in your business? Click here to apply to work with David and his team of CFOsHave you seen David’s latest book? Click here to Profit First for Real Estate Investing now! Want to learn how other real estate investors are making and keeping more money in their business? Click here to join our community of over 1100+ real estate investors who are implementing Profit First!