Prioritizing Profit First

The chapter discusses the concept of profit first in business and why it is important. It introduces the profit first formula and explains how it applies to real estate investors and protecting profit in the face of unexpected expenses.

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We know what you want: more profit while working less in your real estate business. As a rookie, investing in real estate can sometimes seem like more trouble than it’s worth. But, a few simple adjustments can take HOURS off your plate while making you more money than you can imagine, as today’s special guest will demonstrate!

Welcome back to the Real Estate Rookie podcast! In this episode, we’re joined by Mike Michalowicz—serial entrepreneur, business coach, and multi-time best-selling author. Today, we’re dialing in on two of Mike’s books—Profit First and Clockwork—and discussing how they can help YOU in real estate. If you feel like you’re treading water with your real estate business, this is an episode you need to hear!

By turning the traditional profit formula on its head, Mike shows you how to rewire your brain and the way you think about profit. You’ll learn the importance of paying yourself first and building a buffer for the inevitable expenses you incur as a real estate investor. You’ll also learn about the first hire ALL business owners should make and how to free up more of your valuable time through the power of delegation.

In This Episode We Cover:

The importance of paying yourself first (flip the profit formula!)

How to start delegating tasks you don’t need to be doing

Determining a realistic amount to pay yourself from your property business

The first hire EVERY real estate business owner MUST make

Tools you NEED to effectively onboard a new virtual assistant

Improving your business and freeing up time with “captures”

And So Much More!

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