The Importance of Staying Liquid and Paying Yourself First

"Get profitable and pay yourself first."

If you want to become smarter financially and know where your money is going, we have a perfect guest! 

In this episode of Profit First for REI podcast, we have Chris Miles. Listen as he talks about the thought process of people around money. He also shares some tips on how you can pay yourself twice in your business and utilize passive income in your business to get the freedom you want. Enjoy the show!

Key Takeaways:

[00:45] Introducing Chris Miles
[02:35] The Ultra Penny Pincher
[06:20] Retiring at the age of 28
[08:12] Jumping into real estate investing
[11:19] Life Before Profit First
[13:32] Follow your gut
[16:32] Paying yourself twice
[26:45] Business as your number one investment
[27:42] His advice for real estate investors
[28:41] Connect with Chris Miles

Quotes:

[05:49] "You can make better cash flow and income with real estate even if you are on the passive side."
[13:32] "Follow your gut... If something doesn't feel right, don't go for it just because you can get a lot of money."
[28:08] "Just get to the point where your business is an actual business. They can operate even without you, and you can get enough passive income that you don't need it either; to me, that's the true definition of freedom."

Connect with Chris:

Website: https://moneyripples.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