285. Profit First: The Secret to Making Real Money in Real Estate Investing

Hello listeners! This week we have real estate investor David Richter joining us, author of the book Profit First for Real Estate Investing. With over 10 years experience and 850 deals under his belt, David is an expert at helping real estate investors actually keep their profits instead of losing them to the endless deal-to-deal cycle. Many of us got into real estate to escape the rat race, but profit leakage can trap us right back in it if we aren't careful.In this episode, David will break down the fundamentals of profit & loss statements, balance sheets, and implementing financial systems that lead to true profitability. We'll also discuss actionable steps you can start taking today to get your books in order and stop leaving money on the table. Whether you're new to real estate investing or a seasoned pro, David's advice will help transform your business.Let's dive in to unlock the secrets of maximizing your real estate profits! 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 onBiggerpockets, 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 derivative of the original Profit First by Mike Michalowicz that is tailored specifically to Real Estate Investors.His goal is to completely transform the Real Estate Investing industry by helping real estate investors 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.Resources:• Website: simplecfo.com• Book: Profit First for Real Estate Investing by David Richter• LinkedIn: Simple CFO Solutions• Facebook: The Simple CFO• Exclusive Gift for TFV Listeners: simplecfo.com/gift • #STRShareSunday: @theidyllolhouseThanks for Visiting is produced by Crate Media.Mentioned in this episode:Hosting Business Mastery Method | Join us for our live, free, host masterclass and learn how to OWN your digital real estate!HBMM | Sign up today at hostmasterclass.com.Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.Minoan | Minoan helps short-term rentals and boutique hotels enhance their appeal with their customizable, curated retail platform.Minoan | Visit MinoanExperience.com and tell them TFV sent you!