The Land Investing Business Secrets
How to Actually Profit from Land?!
Apr 14, 2022
Learn how to make your land investing business profitable using the Profit First mindset. Discover the benefits of implementing this method, managing accounts and costs, and utilizing land investors' strategies. Plus, explore the power of the first deal and a special coaching program announcement.
40:00
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Quick takeaways
- Implementing the profit first management system helps land investors prioritize profitability and effectively manage their finances.
- Choosing the right bank for the profit first system, such as Mercury Bank or North One Bank, can optimize financial management and avoid unnecessary fees.
Deep dives
Applying the Profit First Mindset to Real Estate Investing
In this podcast episode, Jaren Barnes discusses how he applies the profit first management system to his land business. Profit first is a practical accounting approach that prioritizes profitability by allocating revenue to different bank accounts such as income, profit, owner's compensation, taxes, and operating expenses. By setting up these accounts, entrepreneurs can systematically manage their finances and ensure that profit is taken first. Jaren emphasizes the importance of understanding and managing money in real estate investing, as many investors overlook profit and reinvest everything back into the business. By implementing profit first principles, investors can achieve financial stability and success.
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