A Psychologist’s Perspective: The Struggles & Difficulties Investors Face; Why Profit First Can Help With Scott Emsley

Today’s guest is Scott Emsley, a real estate investor with Clear Sky Properties. He has been in the since 2020, first starting with single-family homes before eventually dipping into multifamily properties as he does today.

Scott continues to work as a clinical psychologist while starting his venture into investing. Interestingly, he did not have a previous entrepreneurial background like most investors, making the Profit First system an invaluable tool for managing his finances and learning better money management. 

With his circumstances and background in psychology, Scott offers a unique insight into the benefit of Profit First and a psychologist’s perspective on some of the struggles of investors. Tune in!

Key Takeaways:

[00:47] Introducing Scott Emsley and His Real Estate Investment Journey
[07:28] On Analysis Paralysis About Starting Real Estate Investing
[11:02] On Implementing Profit First and Experiencing Its Benefits
[17:40] Profit First in the Multifamily Space
[22:47] Real Estate Investment Without Initial Entrepreneurial Experience
[26:43] Scott’s Thoughts on His Career Without Profit First
[29:05] Advice for Real Estate Investors: Without a Business Plan, You’re Doing It Wrong
[30:30] Connect With Scott

Quotes:

[12:17] “[Profit First] is one of the biggest reasons why I've been able to pick up another 300 or so units [in] the remainder of last year.”
[27:52] “I'm not equipped to be a business owner if I hadn't found profit first.”
[29:46] “If you don't have a good business plan, you're doing it wrong…If you don't have a business plan, a business strategy, the house of cards is going to come toppling down.”

Connect with Scott:

Instagram: www.instagram.com/stewardscotty
Podcast: The Worst Ever Real Estate Investing Podcast (currently in the works)

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