Episode 114: David Richter

Many real estate investors are into fixing and flipping, selling property, and multifamily syndications, but only a few people talk about the accounting aspect, which is the key to why they entered into business in the first place. Learning and understanding accounting is essential because if you do not know your numbers, you do not know your business. As a real estate investor, you should be a good bookkeeper. David Richter is an active real estate investor who has been essential in closing over 850 deals over the last ten years. He has experience with wholesale, turnkey, BRRRR, owner finance, rentals, lease options, and any other exit strategy you can think of. 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 explicitly tailored 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. This is the message that David Richter shares with Fuquan today. It is necessary to ensure that we are good business managers with finances so that we will have something left over at the end of the day. You don't have to live deal to deal anymore, struggling to feel like you are broke. You need to make sure that you have a very simple system to manage the investments' cash flow. Tune in to get insight into David's top tips on keeping the money you earn in real estate investing. Highlights from the Interview Why David Richter is passionate about real estate investing What inspired David to write Profit First for Real Estate Investing book and the message he presents Where does your money go? The services David provides for real estate investors Why scaling a financial team is important as your business grows The common challenges David has faced with his clients The best ways to reach out and connect with David Golden takeaway tips from the show