Profit First for Real Estate Investors
You’re a real estate investor who is passionate about real estate and making a difference in your community. You’re a hard worker and you love the freedom that comes with being your own boss and owning your own business. You started this business because you wanted more time and money in your life, but financial freedom seems to always be on the other side of that “next” deal. Like most real estate business owners, you are broke and have no control over your finances, and it’s hard to admit it. You know how to make a lot of money, and you keep working harder and harder, but have little to nothing in your bank accounts to show for it. You give the keys to your finances to some bookkeeper or accountant that you “hope” will fix all the problems, yet the problem seems to get worse. You often feel like a rat in a maze, sometimes living from deal to deal, hoping to work your way out debt. This leads to feelings of stress and overwhelm because you aren’t paying yourself enough and you’re just one bad deal away from going out of business. It’s time to stop living paycheck to paycheck and start actually keeping more of the money you work so hard to make! To have less stress, less confusion, to sleep better at night, and have a healthy, profitable business that enables you to have more time with your friends and family, not less. It’s time to start putting more actual profit in your pockets and know what you can spend on yourself, your family, and on growing your business. The key to this future is to put profit first and have a system for your cash flow that is dependable and reliable. Cash is not king, cash management is king.When you control your cash, you control your business. And when you control your business, you’ll have more profit and more time to do more of what you love. You got into this business to achieve true time and money freedom in your life and I’m here to show you, that with the right systems in place, you can have all of those things…and so much more. We’re the Profit First for Real Estate Investors Podcast, where we put profit first because it changes the way we live our lives, build our businesses, and pursue the things that matter the most. Our mission is to make money “one less thing” you worry about by empowering you with the tips, tactics, and strategies you need to finally take control of your finances…and of your life. Join us each week on the Podcast as we speak with real estate investors from around the country who put profit before expenses, value substance over status, and place the health of their business above growing their egos. In each episode, real estate investors from across the country will share how they’ve completely changed their business by implementing Profit First. You’ll hear how these battle hardened real estate investors were able to completely turn around and revolutionize their businesses, and in many cases, their lives, and learn from their mistakes and failures...so you can avoid doing the same things in your own business. We focus on the journey to greater profitability and cash in your pocket without becoming a financial wizard or needing to close more deals. Earning more money and keeping more of what you earn is the only true path to freedom. You don’t need to do more deals to keep more money, you just need to take your profit first. Welcome to the Profit First for Real Estate Investors Podcast.
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Leadership, Team Performance, and Trauma Freedom with Annie Yatch
Want to know more about Profit First and how it works best for business owners and becoming better leaders?Listen to this Profit First for REI podcast episode as we interview Annie Yatch. She has been an entrepreneur for 15 years but originally started working in the Defense Intelligence Agency. Annie talks about trauma, trauma freedom, and how it affects potential leaders in the real estate industry! Enjoy the show!Key Takeaways:[00:54] Introducing Annie Yatch[04:07] What is trauma? [06:08] Trauma and your calling[12:41] Good saver, bad spender[16:54] Where did Annie get knowledge about people's behavior?[22:50] Three big gaps in companies[27:17] Profit First and role in trauma freedom [31:12] Connect with Annie YatchQuotes:[04:06] "Trauma has to do with any time in your life that there is a perceived lack of control."[06:08] "If you figure out what your trauma is, you figure out what your calling is as well."[19:38] "Every problem that you experience in business is a behavior problem... a behavior you have to start, a behavior you have to stop, or a behavior you have to modify."Connect with Annie:Website: https://reisalestools.com/ Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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35:08 | 9/12/23 | |
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From Construction to Wholesaling: A Backwards Journey to Success
"Real estate is the byproduct of caring."In this episode, we interviewed Phillip Vincent. He is the founder and owner of Mom's House. Mom's House is one of the most trusted home buyer networks for seniors moving into senior living.No matter what type of seller you walk into, either virtually or over the phone, get to know how to get the deal done through relationship building and better rapport.Listen and enjoy the show!Key Takeaways:[00:57] Introducing Phillip Vincent[02:13] How he got into real estate[05:01] The driving force of becoming an entrepreneur[13:45] How Mom's House started[18:13] Branding, scripting, what to say, what not to say[22:37] Why do you think investors live deal to deal?[29:28] Phillip's advice to real estate investors[32:03] Get to know more about Mom's HouseQuotes:[03:11] "I've learned two things: I've learned not to get old and if you do, be rich."[07:26] "The thing about real estate is you can make 50 grand today and lose 80 grand tomorrow."[21:32] "A wholesaler is not an identity, that's an exit strategy."Connect with Phillip:Website: https://momshouse.com/ Tired of living deal to deal? If you are a real estate investor or business owner tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either I or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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35:45 | 9/5/23 | |
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Unpacking the Profit First Approach with Jason Marks
This week's episode will save your business and will give you hope to start with your life!The guest for this episode of Profit First for REI podcast is Jason Marks. He has been in the business for 12 years and has run different companies. One of these is a wholesale company.Listen as he shares his experiences on how he started making money and increased profitability through Profit First. He also tells about the stress of the taxes and how Profit First saved his life! Enjoy the show!Key Takeaways:[00:59] Introducing Jason Marks[04:05] Jason's craziness before Profit First[09:29] How goal setting helped him in his investing journey[15:08] First hire in his business[16:33] Importance of delegating[23:19] Jason's tough times[28:51] Making decisions based on your bank account and your goals[34:05] Advice to first-time investors[38:12] Contact us!Quotes:[13:26] "It's very important that you have to know what you want because you also have to get ready if you don't get it."[17:29] "If you're not good at it and don't like it, you should not be doing it."[28:51] "To run a successful business, you need to make decisions based on your bank account and your goals."Connect with Jason:Website: https://simplecfo.com/ Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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39:22 | 8/29/23 | |
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From Claustrophobia to Financial Freedom: Aaron Chapman's Remarkable Path
What are the things many real estate investors are doing, and what should they be doing?In this episode of the Profit First for REI podcast, Aaron Chapman shares his experiences in real estate investing, especially on the mortgage side.Aaron is a veteran in the finance industry and has been doing loans since 1997. He is a published author and has released books and tons of magazine articles. He also runs a team and is now sharing his wealth of knowledge with us!Know more about him and enjoy the show!Key Takeaways:[00:57] Introducing Aaron Chapman[05:51] Transition from working outdoors to being a telemarketer[13:23] Why do you think investors live deal-to-deal on their business?[17:42] Importance of life insurance to Aaron's financial freedom[25:57] First-time home buyer program [29:43] About his books[35:37] Connect with AaronQuotes:[12:40] "Our focus is on giving people practical data to make decisions with, not speculation and theory."[13:27] "Good judgment comes from experience, and experience comes from bad judgment."[33:45] "The most useful, elegant, and powerful tool ever created is the human mind, but if you misuse it for a split second, it can destroy not just you but everything around you."Connect with Aaron:Website: https://www.aaronbchapman.com/ Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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38:40 | 8/22/23 | |
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Creating Cashflow and Control in Real Estate: A Profit First Tale
How does Simple CFO change lives, from CFOs to real estate investors, to the implementation process up to the light at the end of the tunnel?In this episode of Profit First's CFO Series, Tiffany Vogel shares how she became financially free through real estate investing!She is a great speaker, educator, and investor that wants to help you achieve your goals and get out of the rat race. Having young kids at home, she wants to be there for them. Learn more about her and her investing journey. Enjoy the show!Key Takeaways:[00:58] Introducing Tiffany Vogel[02:26] How she started in what she is doing now[07:34] Getting her interest in becoming a fractional CFO?[10:48] Things that people struggle with in real estate investing[14:47] Cashflow 101[18:38] How Tiffany Discovered Profit First[23:03] Advice for real estate investors[25:27] Connect with Simple CFO Quotes:[11:22] "Adding one property might not have a huge cost for you, but running a portfolio of 20 properties, there are some overhead costs that don't get accounted for..."[20:38] "I couldn't go tell clients, 'Hey you need to do this' if I'm not doing it myself."[23:44] "Focus on what matters, usually your family, travel, something along that line and just chase the right dreams and your goals."Connect with Tiffany:Website: https://simplecfo.com/ Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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27:10 | 8/15/23 | |
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Unveiling the Path to Profitable Real Estate Entrepreneurship: From Shiny Objects to Financial Focus
What are the differences between an entrepreneur and an investor?Tony Castronovo clarified the differences between the two, and he has more to share in this another CFO Series of Profit First for REI podcast!Tony tells his stories on how he went from owning a single family to a multi-family, his journey in real estate investing, and the ups and downs of the entrepreneurial world.Listen and enjoy! You might see where you are right now and the areas you are struggling in real estate investing!Key Takeaways:[00:56] Introducing Tony Castronovo[02:58] Journey of becoming a CFO[07:44] Difference between investor and entrepreneur[13:58] How Simple CFO helps in financial clarity[15:40] Tony's Profit First Journey[19:20] Best lesson/s he learned for decades[21:07] Good first step in the real estate investing journeyQuotes:[06:47] "Going full-time just gave me a bit of a supercharged boost to really go after it."[07:44] "An investor is someone looking long-term to build wealth, and an entrepreneur is very much into a day-to-day income to have a business that will eventually produce wealth."[13:41] "If you are not wise about how you buy and operate those deals, it is just chasing your tail."Connect with Tony:Website: https://simplecfo.com/ Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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24:27 | 8/8/23 | |
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Wheelchairs and Real Estate: How Augie Byot Lives His Legacy through Chair the Love
"What I love about teaching real estate is seeing the transformation in individuals, families, and futures..." - Augie.In this episode of the Profit First for REI podcast, we have Augie Byllott, a nationally recognized author, trainer, coach, and speaker who teaches creative real estate investing.He was an investor since the 80s and helped a lot of people by making an impact on them. Augie owns an education and training company, and he supports a foundation.Know more about him and how he gets his life to the fullest by living your legacy!Enjoy the show!Key Takeaways:[01:00] Introducing Augie Byllott[04:40] "Living Your Legacy"[06:12] Becoming a Transaction Engineer[07:18] Becoming a Marketing Master[08:18] Being a Chief Entrepreneurial Officer[15:20] What he loves about teaching real estate investing[25:03] Learning exit strategies in lifeQuotes:[03:16] "You help entrepreneurs learn how to stop trading hours for dollars... Be careful not to become wage slaves."[06:43] "I had to learn how to engineer transactions so that I could always use my money the way I could use it best."[12:30] "Living one's legacy gives you the greatest fulfillment because you are living your true purpose."Connect with Augie:Website: https://www.chairthelove.org/fundraiser/ Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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32:41 | 8/1/23 | |
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Behind the Scenes: The Enrolled Agent's Guide to Financial Success
We have our CFO Series for this episode of the Profit First for the REI podcast!Alexis Sidney, a seasoned Chief Financial Officer, joined us in the show as she shared how she made an impact as a fractional CFO. How CFOs make a difference? How did they make an impact? Listen as she answers these questions. Alexis also talks about the struggles that they see daily. Enjoy the show!Key Takeaways:[01:00] Introducing Alexis Sidney[03:10] What does she do as an EA?[06:37] Interesting part of the CFO Role[08:15] Different types of struggle people encounter[15:56] Benefits of Profit First for Alexis as CFO[19:40] Pros of working with a CFO[23:48] Alexis' advice for real estate investors[26:48] Connect with Alexis and Simple CFOQuotes:[06:52] "There was something more just behind a profit and loss report... those number means something."[12:55] "It does take time for people to trust you, and you can't overwhelm them by forcing them... just assure them."[20:12] "Working with a CFO allows you to have that person on your shoulder."Connect with Alexis:Website: https://simplecfo.com/ Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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27:46 | 7/25/23 | |
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From Crisis to Prosperity: How Chris Prefontaine Navigated the 2008 Crash
"What hinder success is mental blockage and mindset issues."In this episode, best-selling author Chris Prefontaine talks about Real Estate on Your Terms, a book he wrote in 2017. He also tells about his experiences with the crash in 2008 he went through.Listen as he also talks about cash positions and how Profit First helped along his real estate investing journey. Enjoy the show!Key Takeaways:[01:01] Introducing Chris Prefontaine[03:22] What is Creative Real Estate?[06:54] Why do people struggle with money in real estate?[08:17] Chris before his Profit First Journey[11:41] Getting and meeting the right people[15:35] Hardest lessons on his entrepreneurial journey[19:17] Get an Executive Assistant[21:18] Chris' advice to people starting in real estate investing[22:10] Connect with Chris PrefontaineQuotes:[07:16] "If you try a bunch of courses and it didn't have the same success... you get a little bit less aggressive." [10:45] "Exposure means so much more than we think, more effective than we all realize... it means a lot."[15:54] "Don't utilize your personal signature to sign on debt, especially for investment."Connect with Chris:Website: https://smartrealestatecoach.com/ Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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24:08 | 7/18/23 | |
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Profit First in Real Estate: Transforming Your Business for Financial Freedom
If you need help with deal consistency and flow and starting to hire anyone, this episode is for you!We had Jennie Hudspeth, a sales trainer and a talented business professional with a career potential of no limits. She has done over a thousand deals in 12 months.Listen as she shares some great practical tools she has for people starting to hire anyone. Jennie also talked about how important Profit First is. Enjoy!Key Takeaways:[01:00] Introducing Jennie Hudspeth[03:11] Jennie's real estate investing journey[10:42] What you would have done differently on the way up?[13:55] "Everyone has to be on the same boat."[19:15] The Theory of Constraints[26:14] Jennie and the REI Sales Tools[34:38] Connect with Jennie HudspethQuotes:[11:22] "As I matured in management, I learned that it's not about me."[13:55] "To be able to have consistency, everyone has to be on the same boat."[23:46] "If we do more of the right things consistently, the wrong things go away naturally."Connect with Jennie:Website: https://reisalestools.com/ Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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36:26 | 7/11/23 | |
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From Feast-and-Famine to Financial Stability: How Profit First Revolutionized Real Estate Investing
In this episode of Profit First REI, Dave Dubeau joined us to share his knowledge on how to put more money in your pocket, as he does!Dave is a huge Profit Fist fan who now helps people in the real estate investing world raise capital through his new podcast.Learn more about Dave and how Profit First helped him a lot!Key Takeaways:[00:50] Introducing Dave Dubeau[01:41] Implementing Profit First for the first time[09:46] Increasing visibility to raise capital[12:51] What is the 30-second elevator pitch?[15:07] Don't go cheap on business cards[18:56] Exposure to other people's media[28:03] Connect with Dave DubeauQuotes:[12:42] "Just dress business casual when you are speaking with people about money."[14:56] "Figure out something short and sweet that's gonna create curiosity and get the conversation going."[15:10] "If you are looking to raise capital, don't go cheap on the business cards."Connect with Dave:Website: https://www.daveinterviewsyou.com/ Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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29:20 | 7/4/23 | |
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From Chaos to Clarity: How Profit First Revolutionized Our Real Estate Business
From having one of his companies go from a chaotic mess to having more revenue and net profit to pay for taxes and other operational expenses, let us know more about Andrew Lucas' transformation story!In this episode, Andrew Lucas, a real estate investor who runs a family-owned business, shares his real estate investing journey that will give you hope from failure to success!Listen as he also shares how his wife got involved and got her an outlet for her wonderful talent! Enjoy the show!Key Takeaways:[01:30] Introducing Andrew Lucas[04:58] What his business looks like before Profit First[11:20] Starting the wholesaling business[15:51] Challenges Andrew and his wife had to face in the real estate investing journey[21:30] Husband-wife team on their real estate investing journey[24:32] Andrew's Profit First story[28:02] Get in touch with Andrew LucasQuotes:[06:15] "They know they are making money, they don't know where it's going. They know they don't have as much now as they thought they would."[25:40] "It's easy to lose track, but when you implement this, you will have opportunities that open up." [26:14] "The people that succeed in real estate are the ones that can stick around the longest."Connect with Andrew:Website: https://reidealfinders.club/ Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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30:22 | 6/27/23 | |
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Ignite Your Real Estate Fortunes: Insider Strategies from Elite Investors
"Unless you go out of your way and mess up, you'll be okay; unless you go out of your way to find an amazing deal, you'll probably still be okay."In this episode, John Errico and Ryan Goldfarb share their real estate investing journey from working in the corporate world to focusing on short-term rentals, single-family, multifamily apartments, and commercial investing.Listen as they share their amazing partnership and journey through the ups and downs of real estate investing!Key Takeaways:[01:50] Introducing John Errico[03:57] Introducing Ryan Goldfarb[08:04] Most fun part of John and Ryan's real estate investing journey![14:14] Focusing on short-term rentals and value-add construction projects[21:26] Returns to expect when investing in Atlantic City[27:52] Strategies John and Ryan have to make managing short-term rentals less stressful[31:42] Their advice to aspiring real estate investors[35:15] Connect with John Errico and Ryan GoldfarbQuotes:[13:27] "Trying out new things was an exercise in figuring out what I don't like."[26:18] "Short-term rentals are like layering and operating business on top of real estate investment."[32:58] "There are always reasons not to do something, if you want to do it and if it's something where you want to put your money... you just have to do it."Connect with John and Ryan:Website: https://brickxbrick.podbean.com/e/ep-1-meet-the-partners/ Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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37:10 | 6/20/23 | |
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Numbers Don't Lie: Mastering Financial Intelligence in Real Estate
For today's episode of Profit First for REI, Sharon Lechter joined us to tell us more about who she is as a person and as a business mentor.Sharon is a business strategist, mentor, keynote speaker, and co-author of the #1 Best-Selling Personal Finance Book, "Rich Dad, Poor Dad." She founded an organization that helps people through financial education!Listen as she shares her story and what brought her to success, from doing crazy things to affecting millions of lives. Enjoy the show!Key Takeaways:[01:00] Introducing Sharon Lechter[02:58] Brief background of Sharon and what she does today[11:36] "Pay Your Family First"[12:40] Part of the journey that excites her the most![18:21] Sharon's learning opportunities[26:10] Advice to real estate investors[29:54] Connect with Sharon LechterQuotes:[13:41] "Find joy in every single day, and if you know you're making a positive impact on somebody, there's no greater joy."[16:54] "You are financially free when the income from your assets exceeds your monthly expenses."[28:46] "Challenge yourself to do something new and experience a little bit different life."Connect with Sharon:Website: https://sharonlechter.com/ Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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32:17 | 6/13/23 | |
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Mindful Money Management: Real Estate Tips Inspired by Profit First Principle
Entrepreneurs having trouble managing their finances is more common than you’d think. The constant feeling of stress and anxiety over your cash flow, being in the dark about where your money is going, and ending up living deal-to-deal. Our guest today has gone through the same process—until he implemented Profit First.Alan Walker is a realtor and the owner of Origin Real Estate, dedicating his wealth of knowledge and experience to all his clients. In this episode, he shares the story of his personal struggles with money and how he overcame them with the Profit First method, and shares many insights on money management and saving. You’re in for an enlightening and inspiring episode! Tune in!Key Takeaways:[00:00] Introducing Alan Walker, His Background, and His Real Estate Career[09:43] Before and After Implementing Profit First[21:06] The Profit First Method’s Effect on His Taxes[24:28] The Importance of Having Cash Reserves[28:06] Connect With Alan WalkerQuotes: [10:27] “ When I started to read [Profit First], he broke it down in such a way that was so easy to understand. All I had to do is like create a spreadsheet, and anytime money came in it divided it for me and I just made my transfers.”[22:59] “The biggest thing that I always hear people talking about is ‘Oh, it's so hard to set up these accounts, there are so many online banks now.’ It is not hard to set up these accounts—you can have it done in 20 minutes, so stop making that as an excuse.”[26:56] “As real estate people, we always think that we have to have our money working for us, and putting it in the bank is like a cardinal sin. [We call it] lazy money…it's not lazy money. You actually need that money.”Connect with AlanWebsite: https://www.originutah.com/Podcast: https://www.youtube.com/@alanwalkerplayyourgameTired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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30:04 | 6/6/23 | |
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The Profit First Approach: How to Double Your Real Estate Profits
In this episode of Profit First for REI, Jim Manning joined us as he shed hope on how he succeeded in his real estate investing journey!Jim is a courageous implementor and action-taker who transformed from being broke and chasing deals but not getting a profit; now, he generated over $5 million in passive income in 2022 alone!Learn more about Jim and how you can benefit from his story!Key Takeaways:[00:56] Introducing Jim Manning[02:32] Jim's real estate investing journey[09:27] Motivation and driving factor on chasing deals[15:40] Jim's lightbulb moment![21:33] How things started to change for good from being broke[27:26] Advice for those starting their real estate investing journey[30:07] Connect with JimQuotes:[08:04] "Our egos were stroked, but our wallets broke."[12:12] "If I'm going to succeed... I will measure that success by what I give up in the process."[27:53] "Get educated, don't let yourself get in the trap of 'I'm too busy.'"Connect with Jim:Website: https://passivewealthshow.com/ Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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31:59 | 5/30/23 | |
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Conquering Financial Challenges: The Roadmap to Economic Freedom
In this episode of Profit First for REI, Chris Naugle joined us to share hope in his real estate investing journey! Chris is an innovator and visionary in wealth-building and real estate.He is part of the movement BYOB - Be Your Own Bank, and empowers others with his knowledge of how money works. Chris also dedicated his life to being America's #1 Money Mentor.Listen and know more about Chris' Six Laws of Wealth, and how he got back from the lowest point of his life to the other side of it!Key Takeaways:[00:45] Introducing Chris Naugle [02:16] Chris on what he does in BYOB[08:45] Lowest point of his life[11:37] Impact of money on his family[13:32] How Profit First Impacted His Real Estate Journey[24:16] "I built my own banking system."[28:46] Six Laws of Wealth[37:38] Connect with ChrisQuotes:[04:36] "There are only two types of people, people with money and people that need money, and both have a problem. People with money, they want to make more. People that need money, they need money to make more money."[11:45] "Money is the number one cause of divorce in this country."[28:52] "Pay yourself first."Connect with Chris:Website: https://www.chrisnaugle.com/ Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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39:49 | 5/23/23 | |
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Navigating Change and Achieving Profitability: A Real Estate Journey with Profit First
In a regular 9-to-5, affording to travel requires so much more than just money—you need to have the time and energy for it. This is why traveling is one of the many reasons people begin as investors in the first place, with its promise of financial freedom and passive income. If you’re one of these investors or are someone who wants to expand on their lived experiences, this is the episode for you. Our guest today is Shane Mahoney, founder of Lugos Travel, a luxury travel company focused on providing authentic experiences at travel destinations. In this episode, we will discuss how you can reap the rewards of your ventures and enhance your travels beyond the beaten path. Tune in!Key Takeaways:[00:36] Introducing Shane Mahoney and His Background[05:38] The Scope of Lugos Travel’s Offer [19:18] On Lugos Travel’s Standard and Platinum Tours[25:32] Expanding on the Fees and Plans[31:27] Connect With Shane Mahoney and Lugos TravelQuotes: [05:31] “Experiences that change people's lives…that's been our goal for the last 12 years.”[06:53] “I'm going to charge you for my time and expertise. In exchange, I'm gonna work to make sure that your tour is designed around everything that you know and love.”[10:56] “I know what it was like to be a busy professional, to have like absolutely no time to plan things, but still want a great vacation.”[27:01] “So here's my concern—If you come back from Paris from my tour, and your stories are exactly the same as the people that went to Paris, I have failed.”Connect with ShaneWebsite: http://shanemahoney360.com/Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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33:44 | 5/16/23 | |
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How Sheri Fluellen Uses Psychology To Help Real Estate Investors Achieve Their Goals
Today’s guest is Sheri Fluellen, a real estate investor, syndicator, and coach. As a certified high-performance coach and psychologist, she works with entrepreneurs and real estate investors to keep them focused on their goals through research-based success coaching.Sheri’s background as a psychologist, her experience in the investing space since 2007, and her profession as a coach all give her a unique insight into the mindset of investors. Throughout the episode, we discuss financial management, personal fulfillment, the Profit First Method, and more! Tune in!Key Takeaways:[00:44] Introducing Sheri Fluellen and Her Background[04:29] On Selling Her Private Psychology Practice [11:13] Her Background as a Psychologist and How It Adds to Her Coaching[17:21] The Psychology Behind Poor Financial Management in Investors?[22:01] How to Counteract the Insecurity That Can Affect Our Financial Management Skills[26:08] How Profit First Has Helped Sheri’s Business[29:53] Advice for Investors Who Want to Implement Profit First[30:27] Connect With SheriQuotes: [18:39] “Put a sale in front of me, put a prospect in front of me, and I will get them to buy. But then managing the money that we make on the backend, like, you know, a spreadsheet will make his eyes cross and he just can't stand it…I've seen that in a lot of real estate investors. ”[20:28] “There is this strong relationship between how much money I make and how worthy I am…So, whether it's real estate investing or any sort of business when things aren't functioning smoothly, that can significantly impact one's sense of self-worth, self-efficacy, their ability to be a good business person.”[30:11] “[Implement Profit First] now, because the longer you wait, the more complicated it gets to try to undo what you’ve already done.”Connect with Alex & ShimonWebsite: https://www.drsherifluellen.com/LinkedIn: https://www.linkedin.com/in/drsheri/Instagram: https://www.instagram.com/drsfluellenCoaching Mastery Podcast: https://www.coachingmasterycommunity.com/blogTired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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32:46 | 5/9/23 | |
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Prioritizing Profit, Escaping The Deal-to-Deal Cycle with Alex Chizhik & Shimon Lazarov
We’ve got double the value for today’s episode with two great guests—Alex Chizhik and Shimon Lazarov, the hosts of The Dollar Auction podcast! They discuss anywhere from Bitcoin, government regulations, investing, economics, finance, and more.Alex is an experienced executive with nearly two decades worth of experience in managing organizations and is passionate about technology and cryptocurrency. Shimon is a growth leader with an extensive strategy background in digital strategy, market research, and business development.These two strategic minds join us today to discuss various topics surrounding money mindset and intentionality, and how it can greatly affect your business growth. Tune in! Key Takeaways:[00:48] Introducing Alex Chizhik & Shimon Lazarov[03:48] Blitzscaling: Why People Don’t Prioritize Profit [15:49] Why People Live Deal-to-Deal[23:16] Thoughts on Fractional Businesses[25:29] On Real Estate and Cryptocurrency[33:55] Connect with Alex & ShimonQuotes: [15:37] “It doesn't matter if you're making a million a year or hundreds of millions a year. You need to know where you are on the financial side.”[17:05] “If you don't put some [money] aside, then you can literally have 10 years pass by and for nothing to show for it. And I actually have friends who worked on Wall Street and friends who worked in Silicon Valley making over half a million dollars per year. They didn't save too much. ”[31:50] “All these investments, including cash, is a tool for something…So be intentional about what you're investing in.”Connect with Alex & ShimonAlex’s Twitter: https://twitter.com/mrebitdaShimon’s Twitter: https://twitter.com/ShimonLazarovThe Dollar Auction Podcast: https://podcasts.apple.com/gb/podcast/dollar-auction-show/id1492748168Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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37:13 | 5/4/23 | |
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Joseph & Jenn Delle Fave, The Duo Behind The Creative Finance Playbook, Share How Profit First Changed The Course Of Their Business
Family is often a big factor in any person’s life, so when family becomes an obstacle when starting a business, it becomes a significant roadblock. For our guests today, overcoming this hurdle became a major struggle.Joseph and Jenn Delle Fave are real estate investors, coaches, and the duo behind the Creative Finance Playbook—a Youtube channel where they share the wonders of non-traditional financing for real estate.If you're someone who has struggled with family resistance or fear holding you back from pursuing your entrepreneurial dreams, this episode is for you. Tune in as Joe and Jenn share their inspiring story and how Profit First has helped them with their business.Key Takeaways:[00:41] Introducing Joe & Jenn Delle Fave and Diving Into Joe’s Background[07:35] Joe’s Past Struggles[12:23] On Pursuing Real Estate Despite Family Struggles[17:31] How Joe & Jenn Connected[20:29] Jenn’s Background[23:53] On Moving to Florida[27:46] On Learning About and Implementing Profit First[33:39] On Profit First Alleviating Fear[36:55] Connect with Joe & JennQuotes: [29:11] “The whole concept of [Profit First], like the envelope system, that's something that every person needs to really implement. And so even though we were organized, things could be even more organized. ”[21:23] “I feel like the whole time I was listening to your book, you were just speaking directly to me about a lot of the issues that we've been dealing with for years.”[32:03] “[Profit First can benefit you because] of clarity of everything that's going on in the health of your business…Just like being able to open up the hood [of] a car and find out what's wrong with it and tinkering [with] it. But you don't have to. It's just showing right in your face now.”Connect with Joe & JennWebsite: https://www.creativefinanceplaybook.com/Facebook: https://www.facebook.com/CFPlaybook/Youtube: https://www.youtube.com/@creativefinanceplaybookTired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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39:43 | 5/1/23 | |
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Building Wealth Through Passive Income With RJ Bates
RJ Bates III is the CEO of Titanium Investments, a multifamily investment company that assists investors in building wealth through passive income. Additionally, he hosts the Titanium Vault podcast, which centers around real estate investment.Initially, RJ struggled with financial management as he expanded his business, a common problem among investors. Because of his experience, he has dedicated much of his work to educating and helping many investors in the real estate investing space to succeed.In this conversation, we will delve into RJ's challenges and growth, and the current issues in his business that implementing the Profit First method can help solve!Key Takeaways:[01:01] Introducing RJ Bates III and His Story[06:08] RJ’s Passion for Real Estate and His Podcast[13:35] Profit First and How It Can Help His Business[19:15] Why the Growth of His Business Led to Developing Financial Issues[25:31] On Being Open to the Profit First Message and Unlearning Bad Money Habits[31:38] Advice for People Who Want to Implement Profit First[34:32] Connect with RJQuotes: [11:32] “I know that there are people out there that are trying to change their life, but they're struggling on…the management of their finances.”[21:23] “I feel like the whole time I was listening to your book, you were just speaking directly to me about a lot of the issues that we've been dealing with for years.”[33:42] “There is never a perfect time to do anything. The hurricane of being an entrepreneur never stops. At some point in time, you just gotta say ‘I’m making the commitment to start doing [managing my finances.]”Connect with RJFacebook: https://www.facebook.com/OfficialRJBatesIII/Youtube: https://www.youtube.com/c/RJBatesIIIInstagram: https://www.instagram.com/rjbatesiiiTikTok: https://www.tiktok.com/@rjbatesiiiPodcast: https://podcasts.apple.com/us/podcast/the-titanium-vault-hosted-by-rj-bates-iiiTired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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36:35 | 4/27/23 | |
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How Profit First Broke Unhealthy Financial Habits With Paul Sparks
Our guest today is Paul Sparks, a real estate investor and the owner & COO of BunnyHill Properties. He founded the Whale Club mastermind and is the host of the Investor Frame podcast.Paul began his real estate career while working as an engineering salesman before going full-time as an investor. He shares how his lack of formal education in business and proclivity as a salesman made him more focused on making a profit and less on looking at his numbers and data—until he discovered the Profit First method.Tune in as Paul shares his history, Profit First journey, and the practical steps to unlearn bad money habits and begin putting more focus on financial management.Key Takeaways:[00:52] Introducing Paul Sparks[04:41] On His Difficulty Looking at His Numbers and Other Money Struggles[08:10] Profit First and How It Helped Him Grow as an Investor[20:53] On Learning More About Finances and Having Better Money Mentality[25:30] Advice for Investors Who Want to Apply Profit First[28:27] Connect With Paul SparksQuotes: [06:11] “ It's really tough to run a profitable business if you do not collect and analyze the data because otherwise, you're just erring on the side of ‘How do I make more money?’ constantly…more revenue doesn't necessarily equate to more money in your pocket.”[07:38] “I didn't know how to focus on how much money that I kept. It sounds so obvious when you say this stuff out loud. But it's not obvious when you're in the moment…I think it just took maturing as a business owner to understand: it doesn't matter how much you make unless you're keeping it.”[26:18] “It's really, really tough to have financial freedom, financial certainty, if you don't have your finances dialed in.”Connect with PaulInstagram: www.instagram.com/paulsparksofficialWebsite: www.realestatecertainty.comTired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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30:51 | 4/24/23 | |
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More Real State Advise from a Multifamily Investing Academy Creator, Charles Dobens
Welcome back to the Profit First for REI podcast. Our guest today is Charles Dobens, a multifamily attorney investor with years of experience in the real estate industry. He is the founder of Multifamily Investing Academy, the creator of the MultifamilyOS™️ System, and the host of the award-winning Multifamily Investing podcast.Charles joins us to share his insights on the business of real estate and emphasizes the importance of treating it like a business. He also delves into the three parts of a real estate deal, breaks down the benefits of holding real estate, and offers practical steps for those looking to build wealth through real estate investments.Whether you are interested in transitioning from single-family to multifamily real estate or simply want to keep more of the money you make with your investments, this episode is packed with valuable tips and insights that you won't want to miss. Key Takeaways:[00:18] Introducing Charles Dobens[04:08] Why It’s Easier to Treat Multifamily as a Business Compared to Single-Family[05:12] Ups and Downs and Lessons Learned in His Investing Journey[08:42] What is a Cap Rate?[15:43] The Five Ways to Make Money in Multifamily[18:47] Transitioning From Single-Family to Multifamily[22:16] Asset Management and Property Management[26:24] Connect With Charles Dobens Quotes: [15:34] “[What] I really loved about multifamily was no emotion involved. It's just a formula. And if the formula works, you buy the property.”[23:45] “If you set it up right the first time, and you build the systems to be constantly taking care of your clients, your investors? Yes, then you're going to have yourself a nice business.”[26:46] “I spent over $200,000, building a CRM for members of my multifamily OS program. That helps because…acquisition Management is all about finding the deal, right? 90% of the business is sales and marketing and finding the deal.”Connect with Charles and get a copy of his book, How to Get 1,000 Apartments in Five Years:Website: www.multifamilyos.comTired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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30:17 | 4/20/23 | |
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What You Need To Know Before Investing In Real Estate With Joe McCall
For today's episode of Profit First for REI, Joe McCall joined us to share his journey to financial freedom. Joe is a down-to-earth Real Estate Guru that cares for people by helping them to make sure that everyone can make money in real estate investing. He is also helping people to improve their lives and reach ultimate financial freedom!Listen as we share Joe's story, from financial dependence to financial freedom, and how Profit First helped him get out of that!Key Takeaways:[0:55] Introducing Joe McCall[2:33] More of Joe Before Getting Into Real Estate Investing![8:32] Struggles When He Is Starting His Investing Journey[17:27] How He Used His First Paycheck From a Deal[21:00] Trying Different Lease Options[23:25] Reading The Books, "Pumpkin Plan" and "Profit First"[34:52] Joe's Advice to Real Estate Investors[37:03] Connect with Joe McCallQuotes:[11:45] "When you get into real estate, it's different because you deal with people"[20:15] "It's important to understand to keep your expenses low to take on as little debt as possible."[22:19] "I guess I'm the case study of how to do things wrong, but not quit, not give up and learn the right ways to do it."Connect with Joe:Website: https://joemccall.com/ Tired of living deal to deal? If you are a real estate investor or business owner tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either I or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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40:01 | 4/17/23 | |
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Cold Calling Expert Nicholas Nick Explains How Knowing Your Numbers Is Key
In today's episode of Profit First for REI, we are joined by Nicholas Nick. He is a real estate entrepreneur and the founder, CEO, and CFO of Lead Mining Pros, a real estate lead generation company with a focus on cold calling. Nicholas started his journey in the restaurant industry and from there developed a unique skill set that he carries to this day, wearing as many hats when it comes to running his business. He shares how he uses his roles to run his business at the fullest potential but recognizes the importance of eventually hiring someone to take over. Tune in to hear more of Nick’s insights into leadership, the importance of knowing your numbers, and the power of cold calling!Key Takeaways:[00:45] Introducing Nicholas Nick and His Background[06:47] On Knowing His Financials[10:03] Leaving the Restaurant Scene and Starting His Real Estate Journey[18:15] Lead Mining Pros and Their Cold Calling Services[20:31] On Maintaining His Hands-On Leadership Methodology and Exiting His Business[24:54] Seeing the Future in Numbers for His Business[27:58] Why Investors Live Deal-to-Deal: [32:32] Connect With NickQuotes: [27:16] “If you're not good at math, you're never going to get rich. Plain and simple.”[28:41] “What makes me successful is I learned to do everything as cheap as humanly possible myself. And then when you do it as cheap as humanly possible, and you're really good at it. That only means now that throwing money at it makes you better.”[31:46] “My personal secret to success is not being attached to the result…I'm more attached to the experience that I'm getting,”Connect with Nick:Website: https://leadminingpros.com/Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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34:44 | 4/13/23 | |
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How Eric Brewer Has Closed 3000+ Real Estate Transactions
Welcome to the Profit First for REI Podcast! Our guest for this episode is Eric Brewer, a seasoned professional in the real estate industry who has completed over 3000 deals. Eric is the President of Integrity First Homebuyers, co-owner of CR Property Group, and owner of Hillside Financial.Eric joins us today to share his sales methodology and how he has achieved profitability despite having no accounting background. He also discusses how the Profit First method has helped him keep his finances organized and resulted in the biggest write-off in his business's history.Tune in to learn from Eric Brewer's valuable insights on innovation, sales, and the Profit First method. Gain actionable knowledge to help you make more money or keep more of it in your real estate business.Key Takeaways:[00:46] Introducing Eric Brewer and His Real Estate Journey[07:06] Eric and His Experience During the 2008 Crisis[11:55] Eric on Finances and Cash Flow[18:37] Why People Live Deal-to-Deal: The Lack of Formal Education[21:58] What are Novations?[28:12] Eric’s Sales Methodology[32:12] Connect With EricQuotes: [19:12] “All of the education and infrastructure and advice stops at the moment you start making money…I learned how to make money long before I learned how to keep it."[20:19] “If you don't sell, the accountant has nothing to count…And if you don't account for your money, you're gonna [have to] sell 10 times more just to keep your head above water.”[30:06] “When I got into real estate… I realized that…[there are] certain fundamentals of sales that are not changed, like building trust with the person [and] asking good questions.”Connect with Eric:Website With Links: https://brewermethod.com/homeTired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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34:31 | 4/10/23 | |
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How This Professional Athlete Transitioned To Full-Time Real Estate Investor
We’ve got Terrie Schauer joining us here at the Profit First for REI podcast. She is a champion in every sense of the word, as a single mom, 3-time, title-holding ex-athlete, Ph.D. holder, and real estate investor. Her career in real estate began as a property manager before fully transitioning into investments. All the while, she worked as a professional athlete, competing in Brazilian Jiujitsu and even achieving world championship titles. In this episode, she shares her real estate journey, and how she applied a lot of what she learned as a professional fighter to her career. Tune in to the discussion!Key Takeaways:[00:40] Introducing Terrie Schauer and Her Background[03:55] On Mindfulness and How to Use It to Succeed[07:54] On Her Sports Career and How She Found Mindfulness[16:06] Juggling Her Sports Career, Being a Single Mom, and Her Work in Real Estate[21:10] Why People Live Deal-to-Deal: Fear and Not Managing It Properly[24:54] Advice for Real Estate Investors[27:14] Connect With Terrie and Grab Her BookQuotes:[04:37] “Mindfulness is not mindset. It's not positive affirmations. It's not your morning routine. It's not hustling at 5 am…Mindfulness is understanding how the human consciousness works, to be able to get the most out of the tool that is your mind.”[21:52] “The number one biggest [reason why real estate investors get in their own way] is fear, [and] not managing fear properly.”[25:27] “If you're not executing on something, or you're performing below the level at which you want to be in business, it's up here, [in your mind]. [Work] on your mind…Mindfulness training has really allowed me to get kind of get the most out of that”Connect with Terrie:Mindful Landlord: How to Run Rental Property for Profit and Peace of Mind: https://www.amazon.com/Mindful-Landlord-Rental-Property-Profit/dp/1554832365LinkedIn: https://www.linkedin.com/in/terrieschauerInstagram: https://www.instagram.com/terrieschauerFacebook: https://web.facebook.com/TerrieSchauerIncReal Estate Investors Club Podcast: https://podcasts.apple.com/us/podcast/real-estate-investors-club-podcast/id1530582814Tired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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28:47 | 4/6/23 | |
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How Noah Has Developed Security, Control, and Avoiding Ego Investing
Today’s guest is Noah Evans, a realtor and the investment director of Tree City Home Buyers. He also hosts the Chasing Freedom Podcast where he interviews top sellers in the industry, explores knowledge on home buying, renovation, house flipping, and more, and passes on valuable tips to his listeners. Noah's journey is a true testament to the power of Profit First and how it can help you achieve financial freedom, clarity, and control in your business, no matter where you are in your journey.He shares his inspiring story of how implementing Profit First saved him from bankruptcy within the last year and talks about how hopeful he is for his current and future ventures.This is a great episode for investors who’ve gone through similar struggles! Join us as Noah shares his Profit First journey, his real estate journey, and his insights on achieving financial freedom. Key Takeaways:[00:40] Introducing Noah Evans and His Background[06:21] On Implementing Profit First[11:57] What Attracted Noah to Profit First[16:05] How Profit First Saved Noah From Bankruptcy[19:37] How Noah Has Developed Security, Control, and Avoiding Ego Investing[26:38] Advice for People Who Want to Implement Profit First[29:52] Connect With NoahQuotes:[11:05] “In a time of chaos, you fall back to your systems, you fall back to your level of training… I started training myself to be more methodical in the placement of funds on separation of accounts, on treating it like a business and not like a hobby. These are all the things you talk about in the [Profit First] book.”[19:45] “[By implementing Profit First,] not only do I have more peace, I [also] have more control…If we really boiled down entrepreneurship, I would say a lot of people get into it in real estate…because they want control—of [their] time [and] finances.”[32:19] “Accountability at the start is really important…Willpower comes and goes, right? Like, this morning, I woke up late and my willpower to go to the gym was low because I just wanted to get to my day. But I have accountability, [so I show up anyway.]”Connect with Noah:Instagram: https://www.instagram.com/noahevans_realestatePodcast: https://www.youtube.com/channel/UC745tjFMvtRV3oo8F8DPrIwTired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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32:24 | 4/3/23 | |
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What Keeps Investors From Using Self-Directed IRAs with John Bowens
Managing taxes and retirement funds are big factors in any investor’s financial system, which is why self-directed IRAs are such an invaluable investment tool, allowing you to build and control where your retirement funds are invested and pay fewer taxes while growing your wealth.To shed some light on the topic in this episode, we are joined by John Bowens. He is a real estate investor and an expert in the self-directed IRA/401(k) process, serving as the Director of Education at Equity Trust Company's Equity University. Tune in as John shares his wealth of knowledge, providing valuable insights on maximizing your investment and better managing your taxes, and discussing how you can leverage your IRA to buy real estate properties. Get ready to learn from a seasoned pro in the industry!Key Takeaways:[00:44] Introducing John Bowens and the Use of Self-Directed IRAs[06:32] What Keeps Investors From Using Self-Directed IRAs[11:05] The Investor’s Tendency to Live Deal-to-Deal and How It Can Keep Them From Using Self-Directed IRAs[16:30] What Can’t You Invest in With a Self-Directed IRA?[23:50] Types of Accounts Offered by Equity Trust [30:49] Connect With Equity Trust[31:43] Fees Associated When Working with Equity Trust and Their ServicesQuotes:[07:08] “The financial services industry as a whole has failed you, and that's because most instances, in financial services, you're not going to be informed about a self-directed IRA to invest in real estate.”[28:51] “By eliminating the variable of taxation, you increase your annual yield…If your transactions are structured properly, and you're working through the process, and you're doing your due diligence, you could potentially get to your retirement goals and your financial goals by leveraging that component.”[32:19] “[Equity Trust is] not charging a fee based on transactions, or selling investments products…an account holder that moves over, let’s say, a hundred and fifty thousand dollars, they only pay a five-hundred-dollar maintenance fee.”Connect with Equity Trust:Website: www.trustetc.comYoutube: https://www.youtube.com/user/EquityTrustCompanyTired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David
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35:30 | 3/30/23 |