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 Sparks

Quotes:

[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 Paul

Instagram: www.instagram.com/paulsparksofficial
Website: www.realestatecertainty.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