A Profit First Mindset With David Richter

On today’s episode of Ritter On Real Estate, We sit down with David Richter. David 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. 

In addition to investing in his own deals, 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 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. Welcome to the show, David! 

Key Points From The Episode: 

• David's start in real estate. Reading Rich Dad Poor Dad and hanging out with Real Estate Investors to learn.
•  Cashflow Management and preparing for the future.
•  The importance of hiring for purpose and not just hiring to hire.
•  What it's like working with Simple CFO.
•  Understanding the numbers and managing accounting properly.
•  What tools David recommends for financial management. 
•  Implying a profit-first mindset.

Books Mentioned: 

• Profit First For Real Estate
• Rich Dad, Poor Dad by Robert Kiyosaki
• Profit First By Mike Michalowicz
• The Road Less Stupid By Keith Cunningham

SimpleCFO.com

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Production by Outlier Audio