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4 episodes with simple cfo solutions
2 episodes with simple cfo solutions
2 episodes with simple cfo solutions
Many business owners and real estate investors make money but struggle with profitability. In this episode, David Richter shares his journey from scaling to 25 deals a month yet barely keeping any profit, to discovering and implementing the Profit First system. Now, as the author of Profit First for Real Estate Investing and founder of Simple CFO Solutions, David helps entrepreneurs keep more of their hard-earned money and build true financial freedom. Key Takeaways: Why making money does not equal keeping money The three must-have bank accounts for financial clarity Avoiding the “hope and pray” financial strategy The biggest financial mistakes investors make How to implement Profit First in your real estate business Why a fractional CFO might be your secret weapon Free Resource: Get David's Profit First Checklist Resources Mentioned: Profit First for Real Estate Investing – https://simplecfosolutions.com/profit-first-david-richter/ Simple CFO Solutions – SimpleCFO.com Episode Sponsored By: Discover Financial Millionaire Mindcast Shop: Buy the Rich Life Planner and Get the Wealth-Building Bundle for FREE! Visit: https://shop.millionairemindcast.com/ CRE MASTERMIND: Visit myfirst50k.com and submit your application to join!
Join us in this engaging episode of Growth Amplifiers as we sit down with David Richter, the founder of Simple CFO Solutions. Discover how David's journey from real estate to becoming a financial expert influences his approach to helping businesses thrive. Learn about his transformative experiences, the challenges he faced, and the principles that guide his successful fractional CFO company. Tune in to hear valuable insights on effective leadership, financial management, and growth strategies that you can apply to your own business. 00:00 Introduction and Guest Welcome 01:05 David Richter's Journey to Success 03:22 Founding Simple CFO Solutions 04:25 Celebrating Wins and Achievements 09:47 Overcoming Challenges in Business 15:10 Effective Growth Strategies 17:45 The Importance of Speaking and Networking 23:44 Final Thoughts and Advice
David Richter is a real estate investor, author, and the founder and owner of Simple CFO Solutions. He took the Profit First system developed by Mike Michalowicz and turned it into Profit First for Real Estate Investing, designed specifically to empower real estate professionals to make more profit and achieve financial freedom by gaining financial clarity and having control over their business finances. Listen now to learn more about the importance of managing your business' finances and how the Profit First system can help you generate more profit as a business owner! Key Talking Points of the Episode 00:00 Introduction 00:40 What is David's background? 02:42 How important is networking in real estate investing? 04:44 What was the turning point that gave David the idea for Simple CFO Solutions? 08:28 How does helping business owners with their numbers help change people's lives? 10:44 How does the Profit First system help provide financial clarity? 13:13 What was it like for David to take the leap of faith for Simple CFO Solutions? 20:40 How does David's passion give him confidence to do what he does best? 23:29 Why did David decide to start a podcast? 25:22 What has been the most challenging part of starting a podcast? 27:06 What is the biggest deal maker and deal breaker in business? 29:50 How important is your team to the success of your business? 33:48 How did David get to writing Profit First for Real Estate Investing? 36:39 Where can you get a copy of Profit First for Real Estate Investing? Quotables “I would say networking is paramount. I don't know if that's a cliche statement now, but it is very true – your network is your net worth.” “If you're a real estate investor, you have to have that element of faith of diving into it and getting it up and running.” “I want you to know that the key to any good thing here is the ability to ask great questions and to make your point as simple as possible.” Links Free Book: Profit First for Real Estate Investing https://www.simplecfo.com/rcn Book: Crucial Conversations https://www.amazon.com/Crucial-Conversations-Talking-Stakes-Second/dp/1469266822 Website: RCN Capital https://www.rcncapital.com/podcast Instagram: RCN Capital https://www.instagram.com/rcn_capital/ Website: REI INK https://rei-ink.com/
As each has received a gift, use it to serve one another, as good stewards of God's varied grace. – 1 Peter 4:10 David Richter is a fractional CFO helping people in the real estate industry understand growth, profit and cash flow in order to effectively steward their businesses well. David's book "Profit First for Real Estate Investors" is based on the Profit First concept by Mike Michalowicz. In this episode David explains how to apply the Profit First concept to the specifics of real estate investing and why it's so important to know the numbers. Learn more about Simple CFO Solutions here: https://simplecfosolutions.com/ -- Men's Leadership Summit: https://www.cairnleadership.com/mens-leadership-summit-rocky-mountains/ Join our new TKM Reflections Group! Subscribe to the Level-Up Video Series Subscribe to our newsletter, The MENifesto here! Join our New Kinetic Man Facebook Group! Check out the Kinetic Men Events on Meetup! Know someone who would make a great guest on our podcast? Let us know! takeaction@thekineticman.com
In this episode, I interview David Richter, the CEO of Simple CFO Solutions and author of the book “Profit First for Real Estate Investing.” We discuss his real estate journey, book writing, and his current passion–helping small business owners optimize their financial management. This episode is a GOLD MINE for real estate investors and business owners. Follow David Richter: @richterscale91 Profit First for Real Estate Investing - a MUST READ! Simple CFO Solutions Leave a comment on our YouTube video and be entered to win a signed copy of David's book! Follow Duratus: Website Newsletter Facebook LinkedIn Instagram YouTube Pinterest TikTok Follow Maura: Facebook Instagram Pinterest TikTok Bigger Pockets
You don't have to continue living deal to deal. It is time to end the cycle, step into this episode, and enjoy the advantages of strategic planning. Today, David Richter, the founder and owner of Simple CFO Solutions, discusses how to set us up as a priority to build a quality of life without harming the business along the process. He talks about what drove him to Profit First and get out from doing deal to deal. David explains the value of putting systems in place around money. So, start turning your business into a money-making machine instead of a cash-eating monster by tuning in to this episode with David today!Love the show? Subscribe, rate, review, and share! http://getfundablepodcast.com/
Real Estate Investing With Jay Conner, The Private Money Authority
We have a special episode today featuring a successful real estate investor and author of “Profit First for Real Estate Investing”, David Richter!On today's podcast, David shares his insights on how to transform your real estate business and achieve financial freedom using the Profit-First cash flow system.David Richter is the founder and owner of Simple CFO Solutions, a company dedicated to bringing financial clarity and freedom to investors. With his extensive experience in various real estate strategies, David has helped countless investors turn their finances around and maximize their profitability. His best-selling book, "Profit First for Real Estate Investing," provides actionable steps to help you not only make money but also keep and utilize it effectively in your business.In this episode, David and Jay discuss the concept of the "Golden Trio" - profit, owner's cap, and owner's taxes - which are key accounts in any successful business. They delve into the importance of setting up separate accounts and allocating funds correctly to ensure that you're not only making a profit but also paying yourself consistently. David shares stories of successful real estate investors who have implemented this system and achieved incredible results in their businesses and personal lives.One of the highlights of this episode is the discussion on how paying yourself first doesn't harm your business. In fact, it helps you break free from the real estate rat race and build a solid financial foundation. David emphasizes starting small and gradually increasing the percentage of income allocated to paying yourself, all while maintaining a healthy business. By implementing the profit-first system, you'll gain a better understanding of where your money is going and be able to make smarter financial decisions to grow your business sustainably.If you're tired of living deal to deal and want to create a thriving real estate business that supports your financial goals, this episode is a must-listen. David Richter's expertise and insights will guide you on a path to financial freedom in the real estate investing industry.Timestamps0:01 - Raising Private Money with Jay Conner3:39 - Profit First for Real Estate Investing: Summary of Cash Flow Management System.6:30 - Income solves all problems, but systematic management is key.11:32 - The Core Finance Principles14:04 - The Golden Trio17:48 - Profit account builds confidence and financial freedom.22:31 - 90% of Business Owners don't pay themselves enough.25:10 - Start small, gradually increase payments, and prioritize survival.28:09 - https://www.SimpleCFO.com/freebies/ 29:31 - Financial leader helps businesses manage their finances.31:29 - Jay's Free Money Guide: https://www.JayConner.com/MoneyGuideConnect With Jay Conner: Private Money Academy Conference: https://www.JaysLiveEvent.comFree Report:https://www.jayconner.com/MoneyReportJoin the Private Money Academy: https://www.JayConner.com/trial/Have you read Jay's new book: Where to Get The Money Now?It is available FREE (all you pay is the shipping and handling) at https://www.JayConner.com/Book What is Private Money? Real Estate Investing with Jay Connerhttp://www.JayConner.com/MoneyPodcast
Share on FacebookShare on TwitterShare on Google+Share on Linkedin 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
Multifamily Investing the RIGHT Way with Multifamily Attorney Charles Dobens
In this episode, we sit down with David Richter, renowned author of "Profit First for Real Estate Investing" and the owner of Simple CFO Solutions, LLC. With over 850 closed deals under his belt and expertise in various exit strategies, David shares his insights on how to transform your real estate business from struggling to thriving. Learn how to implement the revolutionary Profit First cash flow system, gain true financial clarity, and break free from the cycle of living deal to deal. Don't miss out on this opportunity to take your real estate investments to new heights and make your money work for you. For more information or to get started in multifamily investing, please visit: https://www.multifamilyinvestingacademy.com/.
Real estate investors are the athletes of entrepreneurship. In one transaction, we can earn enough money for the whole year, and that's both a gift and a curse. So many of us close a lot of deals but find ourselves with no money to show for it. It's safe to call it an epidemic. The Profit First strategy allows us to unjumble our finances, and experience the fruits of our labor. How do we install this system in our businesses? In this episode, real estate investor, founder of Simple CFO Solutions, LLC, and author of Profit First for Real Estate, David Richter shares how to change your financial future by genuinely taking care of your money. Three Things You'll Learn In This Episode Good at doing deals, bad at taking care of money Instead of living on the deal-to-deal hamster wheel, how do we bring some predictability to our finances? Give every single dollar a name What's the ‘golden trio' of finances we need to implement in our businesses? Stop running an accidental non-profit We can't make an impact when we're worrying about money all the time. How do we eliminate that stress? Guest Bio David Richter is an active real estate investor who has closed over 850 deals, the founder of Simple CFO Solutions, LLC, and the author of Profit First for Real Estate. He wants to bring investors true financial clarity and freedom and help every investor stop living deal-to-deal. For more information, to listen to the podcast, and to get a copy of the book, head to https://simplecfo.com/.
Today Shimon and Alex discuss the latest news in the #Crypto and #Bitcoin markets, analyzing the latest regulatory challenges brought to crypto by U.S. Regulators. They also touch on national security and #AI – examining how ChatGPT can enable a productivity gain.The featured guest of this episode is David Richter of Simple CFO and the Profit First for REI Podcast.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.https://simplecfosolutions.com/https://simplecfosolutions.com/podcast/Apple Podcast: https://tinyurl.com/36u8fmbrSpotify Podcast: https://tinyurl.com/4zv6syfcHardcorefinanceshow.comFollow us on Twitter@MrEBITDA@ShimonLazarovSupport the show
Esteban Andrade meets with David Richter to talk about a system that will ensure that you profit first and avoid bankruptcy as you scale up. David Richter is the author of Profit First for Real Estate Investing. He has built frameworks that will help you never to lose money and profit more. On this episode of the Online Hustlers Podcast, he will share tons of golden nuggets that will help you build cash reserves. Find financial peace. Tune in to learn more. Here's what to look forward to in today's episode: · David Richter's origin story · What's the most challenging thing for business owners to grasp? · The Golden Trio: the three important accounts of business · What type of frameworks does David make his clients go through in order to keep their money in a consistent basis? · Direct the flow of the money · What are the most important key performance indicators (KPIs) for real estate businesses? ~ About David Richter: 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 turnaround 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. ~You can find David Richter on... Website: https://simplecfo.com/ Facebook: https://www.facebook.com/thesimplecfo LinkedIn: https://www.linkedin.com/in/david-simple-cfo/ Connect with Esteban Andrade! Website: https://www.heselmedia.com/ Connect with me: https://estebanandrade.com/ LinkedIn: https://www.linkedin.com/in/estenick/ Instagram: https://www.instagram.com/estenick --- Send in a voice message: https://anchor.fm/estebanandrade/message
Have questions? Great. You can ask David yourself on our free webinar: Friday 2/17/22 at noon PST www.bit.ly/IWCProfitFirst This week Anthony and Cameron sit down with David Richter, owner of Simple CFO Solutions and author of Profit First For Real Estate Investing. David has created a process to match real estate investors to a fractional CFO to grow their bottom-line profit and decrease financial stress. Investing can be confusing and overwhelming at times, especially if you do not have a finance background, but David provides steps you can take today to simplify your finances. Whether you have already begun real estate investing or hope to in the future, David can help provide insight to strengthen your entrepreneurial potential. Enjoy this week's episode Resources: David's Website: https://simplecfo.com/ Subscribe to our podcast at https://infinitewealthconsultants.com/podcast/ Schedule your 15-minute call with Anthony or Cameron here: http://bit.ly/iwc15podcast Check our online course at www.InfiniteWealthCourse.com Buy Becoming Your Own Banker by R. Nelson Nash http://bit.ly/BYOBbookIWC
After you have figured out how to make money in real estate, the next most important thing you need to learn is how to hang on to it. Today we are talking about some stuff I wish I had known… David Richter is an active real estate investor who has been essential in closing over 850 deals over the last 10 years. He has experience with 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 to over 25 deals a month, he realized that as much money was coming in, it was all going right out the door. With the unique opportunity of being in every seat as a real estate investor, he found a calling in the company's finance seat to help businesses see where their money really went. David has helped real estate companies completely turn around from going out of business to building cash reserves by using the Profit First cash flow system. He has been featured on Biggerpockets, Real Estate Disruptors with Steve Trang, and many other podcasts, shows, and Stages. To help even more people, he wrote Profit First for Real Estate Investing - a companion to the original Profit First by Mike Michalowicz that is tailored specifically to Real Estate Investors. His goal is to make a difference by helping real estateinvestors make and KEEP more money in their businesses. As the founder and owner of SimpleCFO Solutions, he wants to bring investors true financial clarity and freedom and help every investor stop living deal-to-deal.
Entrepreneurs and investors start businesses to make money and keep what they earn. So it defeats the purpose when you find you're losing the money you are making. In this episode, David Richter, a bestselling author and founder of Simple CFO Solutions, highlights the importance of knowing your financial background—because finances uncover the truth of where you're at in your business. He also explains what keeps most businesses and investors from growing and how best to overcome them. Do you want to be in a good position to capitalize on whatever's going on in the economy? Tune in to this conversation and know your profit with David Richter!
Do you want to learn how to give your money a purpose? Join us in today's episode with David Richter as we look into common financial mistakes made by investors and how to prevent them, plus ways to establish a system to help you make the most of your income!Key Takeaways to Listen forBiggest financial mistakes real estate investors makeWhy you should know how much money you need to save from your income5 bank accounts every real estate investor should haveTips to determine your financial prioritiesResources Mentioned in This EpisodeRich Dad Poor Dad by Robert Kiyosaki | Paperback and KindleProfit First for Real Estate Investing by David RichterProfit First by Mike Michalowicz | Hardcover and KindleCrucial Conversations by Kerry Patterson, Joseph Grenny, Ron McMillan, and Al Switzler | Paperback and KindleFree Apartment Syndication Due Diligence Checklist for Passive Investor About David RichterDavid 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.Connect with DavidWebsite: Simple CFOTo Connect With UsPlease visit our website: www.bonavestcapital.com and please click here, to leave a rating and review!SponsorGrow Your Show, LLCThinking About Creating and Growing Your Own Podcast But Not Sure Where To Start?Visit GowYourShow.com and Schedule a call with Adam A. Adams
David Richter has 10 years of real estate experience with a background in acquisitions, disposition, property management, transaction coordination, marketing, and CFO. Through that experience, he realized he wanted to help real estate investors learn how to take control of their finances. After reading Profit First by Mike Michalowicz, he knew he had the perfect framework to help real estate entrepreneurs manage the cash in their businesses. Today, David is the owner and founder of Simple CFO Solutions, which matches real estate investors with a fractional CFO to grow their bottom line profit and decrease financial stress. He is also the author of Profit First for Real Estate Investing. In this episode, he discusses common financial pitfalls he sees real estate investors experience, why he recommends entrepreneurs set up at least four bank accounts to manage their finances, and the services he offers real estate professionals through Simple CFO Solutions and the Profit First System. David Richter | Real Estate Background Owner and founder of Simple CFO Solutions, which matches real estate investors with a fractional CFO to grow their bottom line profit and decrease financial stress. 10 years of real estate experience, including acquisitions, dispositions, property management, transaction coordination, marketing, and CFO. Author of Profit First for Real Estate Investing Based in: St. Cloud, FL Say hi to him at: simplecfo.com Facebook Instagram LinkedIn Greatest Lesson: Make sure to make profit a habit in your business and pay yourself first. Join the newsletter for the expert tips & investing content. Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: Cornell Capital Holdings | PassiveInvesting.com | DLP Capital
David Richter is an active real estate investor who has closed over 850 deals in wholesale, turnkey, BRRRR, owner finance, rentals, lease options, and other exit strategies. 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 going. David has helped real estate companies 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 on how real estate investors view their finances and – bring them true financial clarity and freedom.In this episode, Pamela and David talked about how his success came to be. The highlights are as follows:- What inspired David on his journey toward success?- Who are the people that influenced his upbringing?- What are the challenges that David went through in his life?- What are his recommendations in business for a lot of start-up entrepreneurs?- What will he advise his younger self based on what he knows now?- What's in line for David in the next three to six months?Listen to how Sabastian Enges shares his remarkable story. Listen to the full episode here:- Apple iTunes: https://podcasts.apple.com/us/podcast/underdog/id1534385651- Spotify: https://open.spotify.com/show/6FbSDu0aNtuxAEiderUAfB- Website: https://theunderdogshow.comIf you found this story worth your time and made changes in your life, we'd love to hear from you! Subscribe and leave a review.Catch up with David on his social links here:- Company Website: https://simplecfosolutions.com/- LinkedIn: https://www.linkedin.com/in/david-simple-cfo/- Facebook: https://www.facebook.com/thesimplecfo/The Underdog Podcast host is none other than Pamela Bardhi. She's rocking the Real Estate Realm and has dedicated her life as a Life Coach. She is also Forbes Real Estate Council. To know more about this amazing woman, check out the following:- Website: https://pamelabardhi.com- Instagram: https://www.instagram.com/pamela_bardhi- TikTok: https://www.tiktok.com/@pamela_bardhi
David Richter is an active real estate investor who has been essential in closing over 850 deals which include everything from wholesale, turnkey, to rentals 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. In this episode, Daniel and Keitoh discuss David's journey--how he got started to where he is today and why your business needs a CFO. "In very easy terms, the bookkeeper and accountants or CPAs are like the rearview mirror in a car. They're looking at all the past data, telling you: 'this is what you owe to the IRS.' The CFO should be like the GPS: 'Where are we going? How are we gonna get there? Oh, shoot, you know, this roads blocked? How do we move around it?' So it's more of a leader on the team looking forward to where you're going, and really helping you getting to that end goal." David Richter on the difference between CPA and CFO. Follow David Richter on: Facebook For more information visit: https://simplecfosolutions.com/ --------------------------------- Daniel Blue's Book: B.L.U.E. Print to Your Best Retirement: How to Access Your Retirements Account Penalty and Tax-Free (Click Here to Purchase) --- Through Quest Education, Daniel Blue and Keitoh Spears have helped people all over the country accomplish their financial goals. Do you want to learn how to: Make money tax free? Access your 401k/IRA penalty and tax free? Get funding to start a business? Pay off your debt? Follow Daniel on Instagram:@danielblue__ Follow Keitoh on Instagram: @highkeii
If you're tired of going from one deal to the next, this is the episode for you! David Richter explains how the profit first method can help you build a profitable real estate business and get more deals with this one-of-a-kind system. If you want to learn more about this method, start listening and practicing it immediately! WHAT YOU'LL LEARN FROM THIS EPISODE How to get out of the rat race and build wealth quickly The secret formula for making profits in your business 2 core concepts of profits first for real estate investing How profit-first system ensures positive cash flow and profitability Helpful steps to follow when investing in the real estate business RESOURCES/LINKS MENTIONED Rich Dad Poor Dad by Robert Kiyosaki | Paperback, Hardcover Rich Dad's Escape from the Rat Race by Robert Kiyosaki | Paperback, Kindle Profit First by Mike Michalowics | Paperback, Kindle Profit First for Real Estate Investing by David Richter ABOUT DAVID RICHTER David Richter is the author of Profit First for Real Estate Investing and has assisted real estate companies totally turning around from going out of business to creating cash reserves through his profit consulting company Simple CFO Solutions, LLC. His life's work is to deliver true financial clarity and independence to real estate investors by radically changing the way the real estate investing industry looks at finances. CONNECT WITH DAVID Website: Simple CFO Instagram: @richterscale91 Facebook Group: Profit First for Real Estate Investors CONNECT WITH US Email: shawn@greenbriarcg.com Instagram: Shawn Winslow YouTube: Shawn Winslow LinkedIn: Shawn Winslow FaceBook: Shawn Winslow
David Richter is the author of Profit First for Real Estate Investing and he is the CEO of Simple CFO Solutions, a company focused on helping businesses through fractional or part-time CFOs. He helps businesses make the most out of their income and make sure that they become profitable. Listen to this episode to learn more about the Profit First system, why profitability is important in business, and how you can make sure you're profitable!
Join Mike Cavaggioni with David Richter on the 92nd episode of the Average Joe Finances Podcast to talk about profit first in real estate. David is an active real estate investor, author, and founder of Simple CFO Solutions, LLC. He shares how he brings investors true financial clarity and freedom.In this episode, you'll learn:What Profit First for real estate meansShift to pay yourself first over expensesApplication of the Profit First methodDavid's favorite real estate investing strategyAdvice for those just getting startedAnd much more!About David Richter:David Richter is an active real estate investor. He has been essential in closing over 850 deals, including wholesale, turnkey, BRRRR, owner finance, rentals, lease options, and any other exit strategy. While growing and building a real estate business from five deals a month to over 25 deals a month, David realized that as much money was coming in, it was going right out. With the unique opportunity to be 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 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.Find David Richter on:Website: https://simplecfosolutions.com/Profit First for Real Estate Book: https://amzn.to/3vj2BexProfit First by Mike Michalowicz: https://amzn.to/3xLrIIfAverage Joe Finances®Our social media links can be found here: https://averagejoefinances.com/linksCheck out: https://averagejoefinances.comBalance Your Portfolio with Passiv: https://averagejoefinances.com/passivBuying or Selling a House? https://averagejoefinances.com/realtorInterested in getting your real estate license? https://averagejoefinances.com/prepagentUse the same Audio/Video Editing Team that I use: https://editpods.comHost your own podcast here: https://averagejoefinances.com/buzzsproutSocial Media Management Tool: https://averagejoefinances.com/social-mediaPodcast Book I'm Published in: https://averagejoefinances.com/daniel-larsonBuy an NFT of this podcast: https://ajf.uncut.fmFree Stocks:Robinhood: https://averagejoefinances.com/robinhoodWebull: https://averagejoefinances.com/webullConsolidate debt: https://averagejoefinances.com/sofi-loans/Get Life Insurance: https://averagejoefinances.com/ladderAverage Joe Finances Swag: https://averagejoefinances.com/resources/shop*DISCLAIMER* https://averagejoefinances.com/disclaimer If you are interested in writing for Average Joe Finances or joining us for an interview on the podcast, please visit https://averagejoefinances.com/contactSee our episode transcripts here: https://www.averagejoefinancespod.com/episodes/--------------Tropical Sensation by Mike Leite soundcloud.com/mikeleite Creative Commons — Attribution 3.0 Unported — CC BY 3.0 Free Download / Stream: https://bit.ly/-tropical-sensationSupport the show (https://www.buymeacoffee.com/avgjoefinances)
David Richter is an active real estate investor who has closed over 850 deals and is the founder of Simple CFO Solutions, LLC. He helps other investors to keep the profits they've earned, build cash reserves, and achieve true financial freedom. His goal in life is to completely transform the Real Estate Investing industry by bringing true financial clarity and freedom to investors. Download the episodes https://realestateentrepreneurs.podbean.com Follow me on social media INSTAGRAM https://www.instagram.com/ricardomrosales FACEBOOK https://www.facebook.com/ricardorosalesofficial LINKEDIN https://www.linkedin.com/in/ricardo-rosales-95394234/ MY WEBSITE https://www.ricardorosales.com TWITTER https://twitter.com/Rosales_Reep TIKTOK https://www.tiktok.com/@ricardomrosales REAL ESTATE ENTREPRENEURS EVENT AND MASTERMIND https://www.re3mastermind.com
Sometimes, the challenges we encounter in our lives are there because we're focused on them. Alternatively, it seems that when we begin to focus on what we want, rather than what we don't want, amazingly, the outcomes we want start to occur. In today's episode of The Lead With Trust Show, Sue chats with David Richter, the CEO of Simple CFO Solutions and author of Profit First: For Real Estate Investing. In it, David reveals how the strategies and concepts he outlines in the book apply beyond the world of real estate. Whether you're an entrepreneur, have budget authority within your business or large organization, or if you're running a project these principles can help. You'll discover a little about David's background and his new book, Profit First: For Real Estate Investing. You'll learn what makes real estate different from other business models. You'll also discover how David's insights can help you in your business, no matter your industry. Join Sue and David for this eye-opening and fascinating discussion. Enjoy! What You'll Learn in this Show: A little about David's background and his new book, Profit First: For Real Estate Investing. What makes real estate different from other business models. How David's insights can help you in your business, no matter your industry. And so much more... Resources: https://simplecfosolutions.com (Simple CFO Solutions) https://sudyco.com/the-trusted-leader-sue-dyer/ (The Trusted Leader book) https://sudyco.com/ (Sudyco™ Trusted Leadership Programs) Linkedin: https://www.linkedin.com/in/suedyer/ To access your trusted leader profile: https://sudyco.com/profile/
Inside the Wolf’s Den an Entrepreneurial Journey with Shawn and Joni Wolfswinkel
In this week's episode, Shawn and Joni discuss real estate investing with market expert David Richter. David is the author of the popular book Profit First Real Estate Investing. Through his profit first techniques and his consulting company, Simple CFO Solutions, LLC, David transforms Real Estate Investing Businesses from Cash-Eating Monsters To Money-Making Machines. David goes into great detail as he shares his life's mission to completely transform the Real Estate Investing industry by enlightening how investors view their finances and – bringing them true financial clarity and freedom. Profit First Real Estate Investing Book : https://amzn.to/3oDlkh1 Simple CFO Solutions, LLC Link: https://simplecfosolutions.com/profit-first-david-richter/
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. 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. David joins me today to discuss the Profit First method of managing your business, by making sure that you pay your profits first. David breaks down some of the initial steps of Profit First and shows why everyone needs to have a basic budget set up in their business. He explains the psychological aspect of taking money from your business, and how most people feel guilty when they should acknowledge that it is healthy to have a stable pay-out. "You have to be healthy as a business owner. You have to gain the benefits from the business-your business. You did not start to be a caffeine monster and did not start it to have the expenses go crazy." –David Richter “If I'm going to be doing the work and I'm going to, you know, put my sweat, blood, and tears are being put into this at the beginning to build this, I need to be taken care of to make sure that when, you know if the wind gets taken out of the sails, but I can be taken care of.” – David Richter "Some people feel guilty, they feel guilty for taking money out and saying like, ‘Oh no, I shouldn't take money out of my business.' Right. That's like taboo. Like I need to make sure I use every dollar for, you know, to grow this thing and know, it's like, you need to make sure that you are healthy." – David Richter "So many people will come into this, this industry trying to obtain freedom and trying to make money only to build a prison.” – David Richter This week on Fliptalk: Resources Mentioned: Connect with David Richter: Rate, Review, Learn and Share Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don't forget to tune into our other show: FlipTalk's Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry. Join the community of FlipTalk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.
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. 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. David joins me today to discuss the Profit First method of managing your business, by making sure that you pay your profits first. David breaks down some of the initial steps of Profit First and shows why everyone needs to have a basic budget set up in their business. He explains the psychological aspect of taking money from your business, and how most people feel guilty when they should acknowledge that it is healthy to have a stable pay-out. "You have to be healthy as a business owner. You have to gain the benefits from the business-your business. You did not start to be a caffeine monster and did not start it to have the expenses go crazy." –David Richter “If I'm going to be doing the work and I'm going to, you know, put my sweat, blood, and tears are being put into this at the beginning to build this, I need to be taken care of to make sure that when, you know if the wind gets taken out of the sails, but I can be taken care of.” – David Richter "Some people feel guilty, they feel guilty for taking money out and saying like, ‘Oh no, I shouldn't take money out of my business.' Right. That's like taboo. Like I need to make sure I use every dollar for, you know, to grow this thing and know, it's like, you need to make sure that you are healthy." – David Richter "So many people will come into this, this industry trying to obtain freedom and trying to make money only to build a prison.” – David Richter This week on Fliptalk: How David got started in real estate, and why he felt compelled to work with financing The Profit First Philosophy and how it's relevant to your business Why a healthy business mindset helps motivate you to care for your people The psychological effects of taking money out of your business and what makes you feel guilty How David's business helps change real estate investor's lives through financial mastery The benefits of being in an effective MasterMind Group Why you need 3 bank accounts to help you manage your money Resources Mentioned: Email Don with the Subject “MasterMind” to get information about his MasterMind Book: Profit First, by Mike Michalowicz Connect with David Richter: Simple CFO Solutions Profit First for Real Estate Investors Profit First REI Podcast Rate, Review, Learn and Share Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don't forget to tune into our other show: FlipTalk's Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry. Join the community of FlipTalk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.
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. 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. David joins me today to discuss the Profit First method of managing your business, by making sure that you pay your profits first. David breaks down some of the initial steps of Profit First and shows why everyone needs to have a basic budget set up in their business. He explains the psychological aspect of taking money from your business, and how most people feel guilty when they should acknowledge that it is healthy to have a stable pay-out. "You have to be healthy as a business owner. You have to gain the benefits from the business-your business. You did not start to be a caffeine monster and did not start it to have the expenses go crazy." –David Richter “If I'm going to be doing the work and I'm going to, you know, put my sweat, blood, and tears are being put into this at the beginning to build this, I need to be taken care of to make sure that when, you know if the wind gets taken out of the sails, but I can be taken care of.” – David Richter "Some people feel guilty, they feel guilty for taking money out and saying like, ‘Oh no, I shouldn't take money out of my business.' Right. That's like taboo. Like I need to make sure I use every dollar for, you know, to grow this thing and know, it's like, you need to make sure that you are healthy." – David Richter "So many people will come into this, this industry trying to obtain freedom and trying to make money only to build a prison.” – David Richter This week on Fliptalk: How David got started in real estate, and why he felt compelled to work with financing The Profit First Philosophy and how it's relevant to your business Why a healthy business mindset helps motivate you to care for your people The psychological effects of taking money out of your business and what makes you feel guilty How David's business helps change real estate investor's lives through financial mastery The benefits of being in an effective MasterMind Group Why you need 3 bank accounts to help you manage your money Resources Mentioned: Email Don with the Subject “MasterMind” to get information about his MasterMind Book: Profit First, by Mike Michalowicz Connect with David Richter: Simple CFO Solutions Profit First for Real Estate Investors Profit First REI Podcast Rate, Review, Learn and Share Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don't forget to tune into our other show: FlipTalk's Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry. Join the community of FlipTalk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.
If you've ever felt that you're always chasing the next deal, living deal to deal, month to month, you're going to love this episode with David Richter. David is the owner of Simple CFO Solutions, where his advisory services helped a company not only grow from five to 25 deals a month, but took them from being unprofitable to building cash reserves. David is an active real estate investor who has been involved in over 850 deals from wholesale, turnkey, owner finance, and almost anything else you can think of. He's on a mission to completely transform how real estate investors view their finances–and help people achieve true financial clarity and freedom. His newest book is called Profit First for Real Estate Investing. Co-authored with Michael Michalowicz, David has adapted the Profit First mindset and system–something I personally use in my businesses and really believe in–specifically for real estate investors. In our conversation, you'll learn how to stop living deal to deal, how David adapted the Profit First principles to address the unique challenges of real estate investing, and what you can learn from his incredible new book. Key Takeaways with David Richter Why so many real estate investors end up spending almost every dollar they bring in. How his early struggles with cash management led David to the Profit First mindset. The steps that go into the Profit First mentality–and why you NEED to pay yourself first. How to measure and analyze your success–and why so many people fail to do this important work. How David's business provides CFO services at a fraction of the cost of a traditional, full-time CFO–and how you can work with him. Want the Full Show Notes? To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit https://acceleratedinvestorpodcast.com/244 Rate & Review If you enjoyed today's episode of The Accelerated Real Estate Investor Podcast, hit the subscribe button on Apple Podcasts, so future episodes are automatically downloaded directly to your device. You can also help by providing an honest rating & review over on Apple Podcasts. Reviews go a long way in helping us build awareness so that we can impact even more people. THANK YOU! Connect with Josh Cantwell Facebook YouTube Instagram LinkedIn Twitter Sign Up For My Coaching Program! To unlock your potential and start earning real passive income, visit joshcantwellcoaching.com Get The Flip System Book! To get access to a free copy of The Flip System, visit getflipsystem.com/podcast
Passive Income, Active Wealth - Hard Money for Real Estate Investing
Join the Carolina Capital team every Thursday at 12 pm Eastern for the Real Estate Investor Show - Hard Money for Real Estate Investors! This week, David Richter joins Bill Fairman, Wendy Sweet, and Jonathan Davis to talk about his new book “Profit First for Real Estate Investing. 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 like 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. 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. Timestamps: 0:01 - Introduction 1:30 - https://www.CarolinaHardMoney.com 1:46 - https://calendly.com/wendysweet/wedne... 3:21 - Today's guest: David Richter 4:59 - How David Richter got started in the real estate business. 8:58 - It's amazing what knowing the numbers can do for you. 10:03 - Profit First for Real Estate Investing 13:58 - What's your relationship with Mike Michalowiz? 17:26 - Why you need to be in a mastermind event. 18:31 - Official launch of the book: Profit First for Real Estate Investing 19:01 - Key points that differentiate the Profit First for Real Estate Investing book from the original book. 23:12 - Connect with David Richter: https://www.SimpleCFOSolutions.com 27:58 - Next Show: Passive Accredited Investor Show - https://youtu.be/PDWh1bUbLMA Carolina Capital is a hard money lender serving the needs of the “Real Estate Investor” and the "Small Builder" borrower who is striving to build wealth and generate income for themselves and their families. We offer “hard money rehab loans” and "Ground-up Construction Loans" for investors only in NC, SC, GA, VA, and TN (some areas of FL, as well). As part of our business practices, we also serve as consultants for investors guiding them to network with other investors and educating them in locating and structuring transactions. Rarely, if ever, will you find a hard money lender willing to invest in your success like Carolina Capital Management. Listen to our Podcast: https://thealternativeinvestor.libsyn... Visit our website: https://carolinahardmoney.com YouTube Channel: https://www.youtube.com/channel/UCYzC... Facebook: https://www.facebook.com/CarolinaHard...
CEO Pulse Podcast EP 67 with David Richter Hey! 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. https://www.facebook.com/groups/ProfitFirstREI Stay Focused, you got this! Rafael Cortez CEO Pulse | The Real, The Raw & The Mind of Entrepreneurship. This is your backstage pass into the stories, strategies, and psychology of top-performing entrepreneurs. Follow, Subscribe, Like & Share! Real Estate Coaching Program | www.reiwholesaling.com Full Access links | https://www.rafaelcortez.net/contact Stay Focused, You Got This! Rafael Cortez #ceopulse,#lessbusinessmoreprofits,#business,#startups,#entrepreneurs,#entrepreneurship,#levelup,#lifebydesign#marketing,#sales,#productivity,#leadership,#vision,#mindset,#businessstrategy,#businessManagement
Why you've got to check out this episode: Discover the two main points to a 'Profit First' approach to your real estate investing business, so you make profit a habit inside your business Find out the biggest mistake most investors make so you won't go the same route as others did and end up with nothing. Learn how to set up your 'Golden Trio of Accounts' to make sure your business is always healthy and profitable and always moving forward. 3Rs - Read, Resources, Reflect Read: Expert Secrets: The Underground Playbook for Creating a Mass Movement of People Who Will Pay for Your Advice by Russel Brunson Profit First for Real Estate Investing by David Richter Resources: Marketing Secrets - Podcast Google Sheets Google Gmail Asana unroll.me Reflect: "Anything is how you do everything." - Anonymous As a real estate investor, do you find yourself not knowing where the money comes and goes? Do you rely everything on your bookkeepers and accountants to do money management for you? But often that is only once a year! That's one reason why some investors just wake up one day and find out all their money is gone, and they don't know why. It's about time to arm yourself with knowledge, so you take control of your business finances and have your business flourish. In this episode, David Richter shares how 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 that was coming in, it was going right out again. 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. And that's when the 'Profit First' mindset and the formula were brought into the open and helped turn around whatever outdated practices and beliefs about business finances they previously had. Here, he talks about the two most important things you need to bear in mind to make sense of the whole concept of 'Profit First' and put it into practical use. In doing so, you will not only keep deals going and coming in one after another but make profit a priority. That way, you make a whole system of making profit a habit in your business, ensuring long-term viability. 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. 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. Topics Covered: 03:04 - Eye opening experiences that helped him bring to light needed change in the finance aspect of real estate investing 07:20 - Reasons for most real estate investors losing control of their business finances 09:20 - The concept of the 'Profit First' formula and putting it into practical use 11:39 - One biggest mistake most real estate investors commit in their business 12:41 - A practical step to the 'Profit First' approach – the 'Golden Trio of Accounts' 17:35 - Get out of your own rat race and truly own your financial freedom 20:01 - Making sure you are on the same page with your bookkeepers and accountant about the 'Profit First' approach 24:03 - How to set up accounts for multiple portfolios 25:15 - The big benefit 'Profit First' mindset has given him considering he has no financial background 26:48 - How did the idea of 'Profit First' resonate with him 29:05 - 'Profit First' success stories he is most proud of 37:03 - Explaining what fractional CFO is 39:46 - The reason he loves this brand 40:55 - Book and podcast he recommends if you want to figure out marketing principles 41:40 - Cool tools he uses and enjoys 42:49 - A quote he believes to have helped him be a good steward of what he has now Key Takeaways: "A lot of investors, I feel like, if they just had knowledge – knowledge conquers fear. So, that's where getting this knowledge, that's why the book, that's why the message. That's why I love 'Profit First', of all, the whole story and message behind it. Because it arms people with that knowledge." - David Richter "We're always thinking about, I need to pay all this and hopefully one day I get the benefit. That's where the profit first formula says, well, no, it's sales minus profit equals expenses, meaning I make a sale, I take my profit first. And then the expenses are what's left over to pay for that and fund the business growth and everything. But it's making sure you're healthy first, and you are actually profitable." - David Richter "The biggest mistake most investors make is having one big bank account where everything goes in, everything goes out, and it's just a cash cow that's being tossed all the time. That's where having that one bank account doesn't give you control, doesn't really let you see what your money is versus what to spend on the business." - David Richter "You need to make sure you have three main heroes always pushing your story forward for good that you have something besides the expense account that is making sure that you are actually profitable and healthy and going to win and have a good ending to your story." - David Richter "Everyone wants time freedom, financial freedom like they're looking for the big freedom tickets. And you can't have that unless you have a system in place to keep the money and buy that freedom for yourself." - David Richter "Make sure to find someone you respect in the real estate space, have them hold you accountable, so you don't just go off the rails buying all their properties just because you're emotionally involved with them." - David Richter Connect with David Richter: simplecfosolutions profitfirstrei.com Are you ready for 2022? Get a head start with 12 questions to ask yourself over the holidays and get 2022 off to an awesome start. Download here https://brand-checklist.ck.page/02dc100707 *This episode has been brought to you in part by Bluehost web hosting. Bluehost powers more than 2 million websites online and is the No. 1 recommended hosting provider by WordPress. With 24/7 support, free SSL certificates, and free domain name registration, Bluehost web hosting is a powerhouse. Get their special web host pricing by clicking here: https://www.bluehost.com/track/paulcopcutt/ Connect with Paul Copcutt: reibranded.com LinkedIn Email: podcast@paulcopcutt.com Music: Thank you to Zoax for the intro music. *By clicking on the Bluehost link, I may earn a small commission at no cost to you. However, Bluehost is the web host I recommend to all my clients and use myself.
Financial management is not something that every business owner was taught. If you learned it, you are probably an accountant or a CPA. Find a bookkeeper or a fractional CFO if you're having money problems. If you want to scale, you need to do your finances properly. Join your host Sam Wilson and his guest David Richter as they talk about the importance of a CFO in your business. David is the Founder and Owner of Simple CFO Solutions. He is also the author of Profit First for Real Estate Investing. Join David as he goes deep into what he does in the business. Start managing your finances today!Love the show? Subscribe, rate, review & share! https://www.brickeninvestmentgroup.com/podcast
If you're looking to implement a system that can get 7 figures into your bank account, this episode is going to blow your mind. Listen in as David Richter shares everything you need to know about the Profit First system, including to whom this method is for and an exercise that will help you save up thousands of dollars in expenses. KEY TAKEAWAYS The biggest mistakes people make with their business The right formula to calculate your profits Percentage of your income you should transfer to your profits An exercise to make your transactions and team more efficient Why you need to turn your profits into a habit in your business RESOURCES/LINKS MENTIONED Profit first by David Richter Rich dad poor dad by Robert T. Kiyosaki The richest man in Babylon by George S. Clason ABOUT DAVID RICHTER 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. CONNECT WITH DAVID Website: www.simplecfosolutions.com Facebook: Simple CFO Solutions LinkedIn: Simple CFO Solutions TWEETABLEW “When you implement a system into your business, it has to work for you, not the other way around.” - Alex Pardo “The ultimate goal is to have control over your money and make profit a habit.” - David Richter ASCEND Don't Wait To Enjoy Your Life, Tomorrow, Live It Today! How To Grow Your Business, Expand Your Impact, and Experience Your Perfect Life:
Cash flow is like the heartbeat of your business and needs to be monitored. Real estate investors should manage and ensure cash flow and profitability correctly to be successful. Join JD and Melissa with their guest David Richter as they talk about the ‘Profit First' strategy - a system in which business owners take a percentage from each sale as profit. David has a proven solution that will ensure you never have to worry about money again! Stay tuned! Here's what to expect on the podcast: How did David find his 'lightbulb moment' with business finance? What is the Profit First concept? Sales – Profit = Expenses. Why cash management is key to business success? Why it's vital to review the progress of your business? - Think about longer-term and more strategic planning! The importance of knowing your numbers in your business. Are your numbers up to date? Practical steps that you're taking your profit first - specific bank accounts designated for your profitability! And much more! About David Richter: David Richter is an active real estate investor who has closed over 850 deals and is the founder of Simple CFO Solutions, LLC. He helps other investors to keep the profits they've earned, build cash reserves, and achieve true financial freedom. His goal in life is to completely transform the Real Estate Investing industry by bringing true financial clarity and freedom to investors. Connect with David! Websites: https://simplecfosolutions.com/profit-first-david-richter/ https://cfosolutions.com/ Facebook: https://www.facebook.com/thesimplecfo/ Instagram: https://www.instagram.com/simplecfosolutions/ LinkedIn: https://www.linkedin.com/company/simple-cfo-solutions/ Twitter: https://twitter.com/CFOSOLUTIONS Connect with JD and Melissa! Website: https://therealestatejam.com/ Facebook: https://www.facebook.com/therealestatejam/ Instagram: https://www.instagram.com/therealestatejam/ YouTube: https://www.youtube.com/channel/UCa_CWAV1OvH81yp6fITB4lg Shorefront Investments: https://shorefront-investments.com/ Email: therealestatejam@gmail.com
Welcome to the Next Level American Dream Podcast. We have a wonderful guest for you today, but first please make sure you have subscribed, if you haven't already. We also love getting your feedback through likes, comments, ratings, and reviews. Today on the podcast, Sean welcomes David Richter. David is a real estate investor who has closed more than 850 deals and founded Simple CFO Solutions, LLC to help other investors secure financial freedom. During the interview, David walks the listeners through his approach with CFO Solutions and how their services can maximize profits. If you found any value from today's episode, then please share it with a friend and help us grow. For more information on our sponsor, visit: thomsonmultifamilygroup.com to start taking your American Dream to the next level through passive investing! How to Contact David: https://profitfirstrei.com/ https://profitfirstrei.com/podcast/ https://www.facebook.com/groups/ProfitFirstREI
There are some businesses that are too small to have a full-time CFO, while others are too big to do without one. However, have you ever heard of fractional CFOs? In this episode, David Richter, Founder of Simple CFO Solutions, discusses Fractional CFOs, what they do, and why businesses need guidance not just to create wealth, but to retain it. He also explains how to scale a business by making profit a habit. Discover smarter financing in this episode! HIGHLIGHTS OF THE EPISODE 00:58 – David's background 04:09 – Fractional CFO: what is it and what do they do? 10:56 – Profit First: Making Profit a Habit 18:27 – How do you exercise Profit First? 22:54 – Having a solid direction for your business 25:01 – David Richter: What you can do to start Thank you for joining us in another episode. We are committed to inviting more guests that give value to our real estate journey. Stay tuned for more episodes. To learn more, visit our website at www.tempofunding.com. CONNECTING WITH THE GUEST Simple CFO Solutions Website Profit First for R.E.I. Podcast Profit First for R.E.I. on Facebook
Today on the show, we have David Richter, the CEO of Simple CFO Solutions. Simple CFO Solutions helps business owners, especially real estate investors, make sure that they know their numbers and that they are keeping profit. David is an active real estate investor and through his years in the industry, he learned to understand the business side of it too. Coming from around 5 deals a month to over 25 deals a month, David is now close to about 850 deals as an investor. Key Talking Points of the Episode [02:30] How did David get started in real estate? [04:15] Working with another investor after understanding finances more [05:00] How Simple CFO Solutions was born [06:00] What is the difference between a CFO and a bookkeeper? [07:28] What is David's predictive index? [08:46] What's the Fractional CFO concept? [10:30] Benefits of having a Fractional CFO [11:25] Is a CFO also a CPA or a bookkeeper? [13:17] What kind of businesses does Simple CFO Solutions help? [13:57] The most common and the biggest pitfalls that people have [16:05] Mike Michalowicz and the importance of profit in business [17:53] Getting out of the rat race [18:52] Get in touch with David! Quotables “There's a difference between creating a lot of money and creating a lot of profit.” “Fractional CFO is basically just less cost and just part-time.” “Money is so emotional to everyone and it's not very comfortable for everyone to talk about it on the phone." Links Website: Simple CFO Solutions https://www.simplecfosolutions.com
David Richter is a fractional CFO helping people in the real estate industry to understand the numbers, growth, profit and cash flow in order to effectively scale their businesses. David's book "Profit First for Real Estate Investors" is coming out soon and it is based on the Profit First concept by Mike Michalowicz. In this episode David explains how to apply the Profit First concept to the specifics of real estate investing. He also gives us one key takeaway to help you build a more profitable business than it is today. What We Cover: - The burning need for entrepreneurs to get more clarity on the numbers in their business - What is Profit First for Real Estate Investors - The three types of accounts every real estate investor should have - How to apply Profit First when you want to scale your business - What investors should do with excess cash they generate - The difference between creating wealth and keeping wealth - How your real estate investing business can become your asset Resources: - Profit First for Real Estate Investors https://profitfirstrei.com/ - Simple CFO Solutions https://simplecfosolutions.com/ - "Profit First: Transform Your Business from a Cash-Eating Monster to Money-Making Machine" by Mike Michalowitz https://www.amazon.com/Profit-First-Transform-Cash-Eating-Money-Making-ebook/dp/B01HCGYTH4 - "Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money that the Poor and Middle Class do not" by Robert Kiyosaki https://www.amazon.com/Rich-Dad-Poor-Teach-Middle-ebook/dp/B07C7M8SX9/ - "Exit Rich: The 6 P Method to Sell Your Business for Huge Profit" by Michelle Seiler Tucker https://www.amazon.com/Exit-Rich-Method-Business-Profit-ebook/dp/B08PCK7PMK/ - "Secrets of Sand Hill Road: Venture Capital - And How to Get it" by Scott Kupor https://www.amazon.com/Secrets-Sand-Hill-Road-Capital-ebook/dp/B07KLJQ13R/ Interested in becoming a real estate investor? Sign up of Brad Smotherman's apprenticeship group at support@bradsmotherman.com
If you are trying to scale your real estate investing business, stay tuned for this episode! David Richter from Simple CFO Solutions talks about the Profit First concept for real estate investors, and gives one key takeaway to help you build a more profitable business than it is today. Full interview coming up tomorrow!
If you want to run a successful wholesaling business, you need to understand accounting. However, that could get very technical. Fortunately, our guest today is an expert in that field. David Richter is the founder of Simple CFO Solutions, and his company's goal is to transform the real estate investing industry by changing the way real estate investors view their finances. It empowers business owners to keep more profit in order to live life on their terms by adhering to the “profit first” philosophy. In this episode, David Richter will weigh in on the common mistakes that real estate entrepreneurs make when it comes to the accounting aspect of their business, and then he will give us insight into how Simple CFO Solutions manages those issues. He will also explain why “profit first” is one of the best strategies when running a real estate business. RESOURCES: Virtual Investing Mastery David's Instagram Profit First For Real Estate Investors Facebook group Profit First for Real Estate Investors Profit First REI Podcast Simple CFO Solutions Rich Dad Poor Dad by Robert Kiyosaki Profit First by Mike Michalowicz
Having someone who reports financial performance, prepares budgets, and monitors costs improve profit margins significantly. Dive in with our guest David Richter as he explains a system that could help automate and maximize investor's profit. Key takeaways to listen for Analogy on Chief Financial Officer (CFO) Chief Operating Officer (COO) vs Chief Financial Officer (CFO) Profit First fractional Basic fundamentals of knowing the financial side of a business Finding active investors Profit First Overview: 3 Steps for a quick start at Profit First About David Richter David Richter is an active real estate investor for 10 years who has been essential in closing over 850 deals which include wholesale, turnkey, BRRR, owner finance, rentals, lease options, and any other exit strategy you can think of. 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. Connect with David Website: Simple CFO Solutions Podcast: Profit First for Real Estate Investors Facebook Group: Profit First For Real Estate Investors Connect with Us To learn more about partnering with us, visit our website at https://javierhinojo.com/ and www.allstatescapitalgroup.com, or send an email to admin@allstateseg.com. Sign up to get our Free Apartment Due Diligence Checklist Template and Multifamily Calculator by visiting https://javierhinojo.com/free-tools/. To join Javier's Mastermind, go to https://javierhinojo.com/mastermind/ and to apply to his BDB Mastermind, see https://javierhinojo.com/mastermind/#apply_form and answer the form. Follow Me on Social Media Facebook: Javier A Hinojo Jr. Facebook Group: Billion Dollar Multifamily and Commercial Real Estate YouTube Channel: Javier Hinojo Instagram: @javierhinojojr TikTok: @javierhinojojr Twitter: @JavierHinojoJr
In this episode, we're talking with David Richter of Simple CFO Solutions.(Show Notes: REtipster.com/101)David is a certified Profit First Professional. If you're not familiar with Profit First, this is essentially a financial management system for small businesses. Profit First was a groundbreaking book that was published back in 2017, and it's one of those books I hear people reference time and time again because it has changed the way a lot of people think about their money.David is actually under contract with Mike Michalowicz (the author of Profit First) to write the book on Profit First for Real Estate Investors. David's company provides fractional CFO services for real estate investors nationwide - meaning they perform the job of a CFO on behalf of your company at a fraction of the cost.They can help you clean up your books, assess how healthy your company is in terms of profitability, empower you to manage your business finances based on the Profit First System, assess what business expenses are actually yielding an ROI, and tons more.Needless to say, David has A LOT to bring to the table for us real estate investors, so we're honored to have him on the show today!
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. 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. David joins me today to discuss the Profit First method of managing your business, by making sure that you pay your profits first. David breaks down some of the initial steps of Profit First and shows why everyone needs to have a basic budget set up in their business. He explains the psychological aspect of taking money from your business, and how most people feel guilty when they should acknowledge that it is healthy to have a stable pay-out. "You have to be healthy as a business owner. You have to gain the benefits from the business-your business. You did not start to be a caffeine monster and did not start it to have the expenses go crazy." –David Richter “If I'm going to be doing the work and I'm going to, you know, put my sweat, blood, and tears are being put into this at the beginning to build this, I need to be taken care of to make sure that when, you know if the wind gets taken out of the sails, but I can be taken care of.” – David Richter "Some people feel guilty, they feel guilty for taking money out and saying like, ‘Oh no, I shouldn't take money out of my business.' Right. That's like taboo. Like I need to make sure I use every dollar for, you know, to grow this thing and know, it's like, you need to make sure that you are healthy." – David Richter "So many people will come into this, this industry trying to obtain freedom and trying to make money only to build a prison.” – David Richter This week on Fliptalk: Resources Mentioned: Connect with David Richter: Rate, Review, Learn and Share Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don't forget to tune into our other show: FlipTalk's Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry. Join the community of FlipTalk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.
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. 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. David joins me today to discuss the Profit First method of managing your business, by making sure that you pay your profits first. David breaks down some of the initial steps of Profit First and shows why everyone needs to have a basic budget set up in their business. He explains the psychological aspect of taking money from your business, and how most people feel guilty when they should acknowledge that it is healthy to have a stable pay-out. "You have to be healthy as a business owner. You have to gain the benefits from the business-your business. You did not start to be a caffeine monster and did not start it to have the expenses go crazy." –David Richter “If I'm going to be doing the work and I'm going to, you know, put my sweat, blood, and tears are being put into this at the beginning to build this, I need to be taken care of to make sure that when, you know if the wind gets taken out of the sails, but I can be taken care of.” – David Richter "Some people feel guilty, they feel guilty for taking money out and saying like, ‘Oh no, I shouldn't take money out of my business.' Right. That's like taboo. Like I need to make sure I use every dollar for, you know, to grow this thing and know, it's like, you need to make sure that you are healthy." – David Richter "So many people will come into this, this industry trying to obtain freedom and trying to make money only to build a prison.” – David Richter This week on Fliptalk: How David got started in real estate, and why he felt compelled to work with financing The Profit First Philosophy and how it's relevant to your business Why a healthy business mindset helps motivate you to care for your people The psychological effects of taking money out of your business and what makes you feel guilty How David's business helps change real estate investor's lives through financial mastery The benefits of being in an effective MasterMind Group Why you need 3 bank accounts to help you manage your money Resources Mentioned: Email Don with the Subject “MasterMind” to get information about his MasterMind Book: Profit First, by Mike Michalowicz Connect with David Richter: Simple CFO Solutions Profit First for Real Estate Investors Profit First REI Podcast Rate, Review, Learn and Share Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don't forget to tune into our other show: FlipTalk's Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry. Join the community of FlipTalk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.
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. 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. David joins me today to discuss the Profit First method of managing your business, by making sure that you pay your profits first. David breaks down some of the initial steps of Profit First and shows why everyone needs to have a basic budget set up in their business. He explains the psychological aspect of taking money from your business, and how most people feel guilty when they should acknowledge that it is healthy to have a stable pay-out. "You have to be healthy as a business owner. You have to gain the benefits from the business-your business. You did not start to be a caffeine monster and did not start it to have the expenses go crazy." –David Richter “If I'm going to be doing the work and I'm going to, you know, put my sweat, blood, and tears are being put into this at the beginning to build this, I need to be taken care of to make sure that when, you know if the wind gets taken out of the sails, but I can be taken care of.” – David Richter "Some people feel guilty, they feel guilty for taking money out and saying like, ‘Oh no, I shouldn't take money out of my business.' Right. That's like taboo. Like I need to make sure I use every dollar for, you know, to grow this thing and know, it's like, you need to make sure that you are healthy." – David Richter "So many people will come into this, this industry trying to obtain freedom and trying to make money only to build a prison.” – David Richter This week on Fliptalk: How David got started in real estate, and why he felt compelled to work with financing The Profit First Philosophy and how it's relevant to your business Why a healthy business mindset helps motivate you to care for your people The psychological effects of taking money out of your business and what makes you feel guilty How David's business helps change real estate investor's lives through financial mastery The benefits of being in an effective MasterMind Group Why you need 3 bank accounts to help you manage your money Resources Mentioned: Email Don with the Subject “MasterMind” to get information about his MasterMind Book: Profit First, by Mike Michalowicz Connect with David Richter: Simple CFO Solutions Profit First for Real Estate Investors Profit First REI Podcast Rate, Review, Learn and Share Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don't forget to tune into our other show: FlipTalk's Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry. Join the community of FlipTalk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.
Marketing makes the world go round, but what most business owners do is just spend money and have no idea where it's going and how much is going out. David Richter with Simple CFO Solutions gives us the rundown of creating a healthy budget for your real estate investing business and how to measure the roi along the way.
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 help real estate investors make and keep more money. 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. 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. David is in the process of writing Profit First for Real Estate Investing. He implements the Profit First REI process in real estate companies. He wants to get the message of Profit First to the real estate investing world because he has seen the transformational power in that system. What you'll learn about in this episode: How David got started in real estate investing and grew his investment portfolio, and how Gino Wickman's Entrepreneurial Operating System impacted his business and team How David realized the important role accounting and understanding financials could play in strengthening his investment portfolio How David began working with other real estate investors to help them manage their accounting needs through his Simple CFO Solutions profit advisory company How to get a free copy of David's book “Less Stress, More Profit”, where he outlines high level financial concepts and systems for real estate investors Why understanding your financials is crucial for knowing where best to spend your money and truly master your business What financial changes David made for an investor that completely changed the investor's life and refocused his business Why typical accounting systems generally don't offer at-a-glance monthly cashflow and other key metrics real estate investors should be tracking Why “sales minus expenses equals profit” is the wrong way to look at things, and why using the formula “sales minus profit equals expenses” can be the backbone of a powerful mindset Why setting up a single account dedicated to paying yourself first and transferring a small amount of each deal into that account is a life-changing action you can take today Resources: Get a free copy of David's book “Less Stress, More Profit: www.thementorpodcast.com/profitfirst Website: https://simplecfosolutions.com/ Profit First REI Podcast hosted by David Richter: https://profitfirstrei.net/podcast/ LinkedIn: www.linkedin.com/in/david-simple-cfo/ Facebook: www.facebook.com/thesimplecfo/
David Richter has closed over 850 deals including wholesaling, BRRR, rentals, owner finance, lease options, and just about any exit strategy you can think of. While he was able to successfully scale his real estate business (from 5 deals to over 25 deal monthly), he realized that money has been coming out as much as it was coming in. From there, David decided to help real estate companies avoid going out of business to building cash reserves through his profit advising company Simple CFO Solutions, LLC. David's goal in life is to transform the real estate investing industry and bring them true financial freedom and clarity. If you want to know how to build your cash reserves and keep more of your profit, this episode is for you!
Check out this episode as David Richter from Simple CFO Solutions, LLC talks about how important it is to give clarity and peace to your investors. David Richter is a real estate investor. He has been a part of over 850 deals closed during his real estate career which include wholesale, turnkey, brrrr, owner finance, rentals, lease options, and any other exit strategy you can think of. While doing these deals and while helping to build a real estate investing business from 5-10 deals a month to 20-30 deals a month, he realized that as much money was coming in, it was going right out. He had the unique opportunity to sit in every seat as a real estate investor and found a calling in the finance seat to help the company see where the money was really going. He has helped real estate companies completely turn around from going out of business and helped build cash reserves with his company Simple CFO Solutions, LLC. His goal in life is to completely transform the Real Estate Investing industry when it comes to how they view their finances and help bring true financial clarity and freedom to real estate investors.
Please support our podcast if you like it by hitting that SUBSCRIBE button! Tickets are still available for our Virtual Convention happening September 17 - 18 for just $24.99. Two days packed with value and content on note investing, wrap mortgages, lease options and much more. Visit AttendNoteWorthy.com On today's Podcast, I'm happy to sit down with David Richter from Simple CFO Solutions. David is in the midst of writing a follow up to the best selling book Profit First by Mike Michalowicz that will be focusing on the model for real estate investors. If you're running a real estate business, Profit First is a fantastic way to get a hold of your finances and create a system that will allow you to better understand your cash-flow and produce profit for yourself as a priority. Get the NoteWorthy Newsletter for free at www.notetools.com/freenewsletter Connect with David at:https://simplecfosolutions.com/ and learn how you can outsource your CFO for handling of your business finances. Get David's free ebook by emailing him at LessStressMoreProfit@gmail.com and put NoteWorthy in the subject line to get it. ProfitFirstREI.net for his upcoming book and podcast. Get the book Profit First on Amazon or Kindle.
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