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
- Simple CFO Solutions
- Profit First: Transform Your Business from a Cash-Eating Monster to Money-Making Machine by Mike Michalowitz
- Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money that the Poor and Middle Class do Not by Robert Kiyosaki
- Exit Rich: The 6 P Method to Sell Your Business for Huge Profit by Michelle Seiler Tucker
- Secrets of Sand Hill Road: Venture Capital – And How to Get it by Scott Kupor
Interested in becoming a real estate investor? Sign up of Brad Smotherman’s apprenticeship group
