When Your Expenses Are High But Your Profit Is Genius - David Richter | 1328

Epic Real Estate Investing

Matt Theriault

Education, Business, Investing, How To

4.8 • 955 Ratings

🗓️ 8 August 2024

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

David Richter discusses the Profit First system for real estate investors, which helps them manage their cash flow and increase profitability. The system involves setting up different bank accounts to allocate funds for specific purposes, such as profit, taxes, and operating expenses. By automating the process and implementing good money habits, investors can avoid the cash flow roller coaster and have more control over their finances. Richter emphasizes the importance of having a CFO or financial advisor to provide guidance and help make informed decisions based on the numbers. He also highlights the need for a strong financial foundation and mindset of coachability and teachability to achieve success. P.S. Whenever you're ready to go deeper and further with your real estate investing, looking into my partner program to help you get your first deal might be the move... take the first step here for free 👉 https://epicearnwhileyoulearn.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Terrio Media.
0:05.0	Hey, strap in.
0:07.0	It's time for the epic real estate investing show.
0:10.0	We'll be your guides as we navigate the housing market, the landscape of creative financing strategies
0:15.2	and everything you need to swap that office chair for a beach chair.
0:18.8	If you're looking for some one-on-one help, meet us at reI-A-S-C-C-C-C-C-O.
0:24.0	Let's go, let's go, let's go, let's go, let's go.
0:27.0	Let's go.
0:28.0	Let's go.
0:29.0	Help me welcome a long-time friend of the show.
0:31.0	Mr. David,
0:32.0	welcome back to epic real estate investing
0:34.4	well I'm excited to be back man I'm I love your content love you good friends and for a long
0:40.3	time now so just happy that I can come back on and provide value how I can.
0:44.2	Sweet super yeah and congratulations on all the success with the whole profit first thing for
0:48.8	real estate investors that's an amazing message and then to bring it out to just this community
0:53.4	exclusively I don't think that responsibility could have been in better hands so
0:57.5	congrats on what you've done with that.
0:58.7	Yeah I appreciate that and I do I feel like it's a calling at this point just trying to get that message out there and and helping people so I appreciate that a lot
1:07.2	Perfect so for those that aren't familiar can kind of give us a brief overview what it actually is and how it helps your clients.
1:14.0	Right, so many people that I feel like if you're in the real estate game are you just
1:18.8	an entrepreneur at some point you probably make money but feel broke.
	...

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