Profit First for Real Estate Investors

David Richter

You’re a real estate investor who is passionate about real estate and making a difference in your community. You’re a hard worker and you love the freedom that comes with being your own boss and owning your own business. You started this business because you wanted more time and money in your life, but financial freedom seems to always be on the other side of that “next” deal. Like most real estate business owners, you are broke and have no control over your finances, and it’s hard to admit it. You know how to make a lot of money, and you keep working harder and harder, but have little to nothing in your bank accounts to show for it. You give the keys to your finances to some bookkeeper or accountant that you “hope” will fix all the problems, yet the problem seems to get worse. You often feel like a rat in a maze, sometimes living from deal to deal, hoping to work your way out debt. This leads to feelings of stress and overwhelm because you aren’t paying yourself enough and you’re just one bad deal away from going out of business. It’s time to stop living paycheck to paycheck and start actually keeping more of the money you work so hard to make! To have less stress, less confusion, to sleep better at night, and have a healthy, profitable business that enables you to have more time with your friends and family, not less. It’s time to start putting more actual profit in your pockets and know what you can spend on yourself, your family, and on growing your business. The key to this future is to put profit first and have a system for your cash flow that is dependable and reliable. Cash is not king, cash management is king.When you control your cash, you control your business. And when you control your business, you’ll have more profit and more time to do more of what you love. You got into this business to achieve true time and money freedom in your life and I’m here to show you, that with the right systems in place, you can have all of those things…and so much more. We’re the Profit First for Real Estate Investors Podcast, where we put profit first because it changes the way we live our lives, build our businesses, and pursue the things that matter the most. Our mission is to make money “one less thing” you worry about by empowering you with the tips, tactics, and strategies you need to finally take control of your finances…and of your life. Join us each week on the Podcast as we speak with real estate investors from around the country who put profit before expenses, value substance over status, and place the health of their business above growing their egos. In each episode, real estate investors from across the country will share how they’ve completely changed their business by implementing Profit First. You’ll hear how these battle hardened real estate investors were able to completely turn around and revolutionize their businesses, and in many cases, their lives, and learn from their mistakes and failures...so you can avoid doing the same things in your own business. We focus on the journey to greater profitability and cash in your pocket without becoming a financial wizard or needing to close more deals. Earning more money and keeping more of what you earn is the only true path to freedom. You don’t need to do more deals to keep more money, you just need to take your profit first. Welcome to the Profit First for Real Estate Investors Podcast.

Episodes

Mentioned books

Aug 5, 2025 • 31min

The Deal-Closing Machine with Maximum Profit with Matt Kamp

In this episode, I’m joined by Matt Kamp from DealMachine—an expert in real estate lead generation, partnerships, and all things systems. If you’ve ever struggled with keeping your deal flow consistent or wondered how tech can help you scale your investing business, this one’s a must-listen. Matt shares how DealMachine evolved from a simple tool for driving for dollars into a full-fledged real estate marketing platform that helps investors find, finance, and flip properties with ease.We also dive into Matt’s personal investing journey—from doing deals with a full-time job to implementing Profit First from day one with his business partner. He opens up about their process, how they celebrate wins, and why intentionality and clarity in finances have been crucial to their success. Whether you’re looking to close your first deal or streamline your back-end systems, you’ll walk away with actionable insights.Episode Timeline Highlights[0:00] - Introduction[1:05] - Matt’s entrepreneurial roots and how he joined the DealMachine team[2:45] - The evolution of DealMachine: from solving a personal pain to building an industry-leading tool[6:00] - Why referrals and community are key to DealMachine’s growth strategy[9:30] - Driving for dollars 101 and how DealMachine simplifies the process[10:45] - Skip tracing, list building, and marketing—all in one platform[12:20] - How the DealMachine community fosters education, connection, and success[14:00] - Matt’s personal investing story and using DealMachine to source and close local flips[18:00] - Implementing Profit First from deal #1: the accounts, the mindset, and the structure[21:00] - Celebrating profit the right way—how Matt and his partner stay grounded[24:50] - Using partnerships to fund and flip deals without burnout[28:00] - Where to find DealMachine and how to get Matt’s exclusive bonus for listeners5 Key Takeaways1. Don’t just generate leads—build a pipeline. DealMachine integrates data, skip tracing, and marketing to streamline your acquisition process.2. Community drives success. Weekly training and networking calls help users stay engaged, educated, and supported.3. Profit First isn’t optional. Matt and his partner adopted the system from day one to stay disciplined and profitable.4. Celebrate your wins. Even with busy lives, Matt’s team makes time to honor the milestones with family-centered traditions.5. Leverage your network. By partnering with GCs who fund and flip, Matt focuses on what he does best—finding great deals.Links & ResourcesDealMachine.com – Explore the platform and get Matt’s free bonus for podcast listenersContact Matt: matt@dealmachine.comSimpleCFO.com – Learn more about Profit First and getting your finances in orderIf this episode gave you clarity or inspired you to take action, don’t forget to rate, review, and follow the show. Share it with a fellow investor who needs better systems and more profit!

Jul 29, 2025 • 33min

God, Goals & Money Framework: A Spiritual System for Financial Success with Nicole Purvy

In this engaging discussion, Nicole Purvy, a serial entrepreneur and founder of a prominent real estate community in Philadelphia, dives into her inspiring journey from early setbacks to financial success. She shares how getting fired for her YouTube ambitions fueled her determination. Nicole uncovers the importance of her God-centered framework for abundance and how implementing the Profit First method transformed her approach to money management. Her candid take on overcoming trauma and self-doubt resonates deeply, offering valuable insights for aspiring investors.

Jul 22, 2025 • 42min

Surviving a Down Market with Creative Finance Strategies with Joe & Jenn Delle Fave

In this high-energy episode, I welcome back two of my favorite recurring guests, Joe and Jenn Delle Fave—real estate pros who are in the trenches every day. If you’re feeling the effects of a down market, this episode is your survival guide. We break down actionable strategies you can implement today, especially if your go-to tools like wholesaling or flipping aren’t hitting like they used to. Joe and Jenn explain how adding creative finance to your investor toolkit can be a total game-changer.But it’s not just strategy—we talk about the real stuff too. From building teams and family life to handling fear and taking messy action, Joe and Jenn open up about the wins, the hard lessons, and what it really takes to thrive as an investor. Whether you’re new or seasoned, this episode will inspire you to simplify, pivot, and make smart moves—especially in turbulent times.Episode Timeline Highlights[0:00] - Introduction[0:45] - Welcoming Joe & Jenn back and setting the tone for the episode[2:00] - Why mindset and money management are critical from day one[4:15] - Understanding market fluctuations in Florida vs. New York[7:00] - Why owning cash-flowing assets still wins over time[10:00] - The trap of taking every deal and why cherry-picking matters[13:30] - The fear of making offers—and the bigger fear of getting a “yes”[17:45] - How Jenn simplified investing concepts using her background as a teacher[20:30] - What the J-curve teaches us about learning and progress in real estate[22:00] - Profit First in action: Taylor Swift concerts and month-long family road trips[25:30] - Homeschooling, real estate, and building a team that supports the dream[30:15] - The Blue Ad Method: a no-cost Facebook strategy for incoming leads[36:00] - The real reason most people don’t follow through—and what to do instead[38:30] - Where to find Joe & Jenn and get their Creative Finance Playbook5 Key TakeawaysCreative finance is a must-have tool in today’s real estate market, especially if traditional methods are no longer working.Mindset and money habits go hand-in-hand—Profit First helps protect your business from chaos.Don’t rush into every deal. Cherry-picking the right deals leads to long-term success, especially for newer investors.Fear of success is real. Many new investors freeze not from failure, but from not knowing what to do when someone says “yes.”You don’t need a big budget to generate leads. Joe and Jenn’s Facebook “Blue Ad” strategy shows how to bring in deals organically.Links & ResourcesCreativeFinancePlaybook.com – Joe & Jenn’s lead generation playbook and free trainingJoe’s contact: (585) 207-2240Instagram: @jendellefave and @josephdellefaveSimpleCFO.com – Learn how we help real estate investors implement Profit FirstIf you enjoyed this episode, please rate, follow, and leave a review. Share it with someone who could use a new strategy in today’s real estate market. Let’s keep building profitable businesses—one smart decision at a time.

Jul 15, 2025 • 31min

Scaling to a $12M Real Estate Business with the Profit First Playbook with Jonas Medrano

In this episode, I sit down with Jonas Medrano, a powerhouse of discipline and drive who took the principles he learned from sports and fitness and applied them masterfully to real estate investing. From wholesaling his first property to scaling a $12 million business from his dining room table, Jonas’ story is not just about financial success, it’s about the mindset and grit it takes to get there.We dig into how Jonas adopted the Profit First philosophy early in his business and how that has fueled his high-profit margins and lean operations. He also opens up about his new passion for coaching and the exact type of driven individuals he’s looking to mentor. If you’re looking for inspiration and actionable insights from someone who’s done the work and built a thriving real estate business from the ground up, this episode is for you.Episode Highlights[0:00] – Introduction[1:01] – The “Profit First” moment that brought Jonas and I together[2:03] – Jonas lands a $40K wholesale deal right out of the gate[3:44] – Self-imposed “jail” of learning 16 hours a day to master wholesaling[4:48] – Securing his first deal just one month into wholesaling[6:07] – Discipline rooted in sports and inspired by Kobe Bryant[9:35] – How Jonas turned wholesaling into a $12M-a-year business[10:56] – Scaling with low overhead, lean team, and high margins[11:28] – Profit First mindset from day one, and saving $100K before hiring[13:06] – Transitioning from wholesaling to fix-and-flip and holding properties[14:25] – $60K average wholesale fees and $150K minimum on flips[15:30] – Launching a coaching program focused on driven real estate newcomers[20:09] – Jonas’ full involvement and personal access in his coaching model[22:02] – Long-term vision: $1B real estate portfolio and $1M monthly passive income[24:44] – Early signs of discipline, from flipping sneakers to excelling in school5 Key TakeawaysDiscipline is everything – Jonas credits his fitness and sports background for building the mental toughness needed to thrive in business.Start lean, grow smart – He focused on maximizing profit and minimizing expenses, only hiring after saving his first $100K.Education is the edge – Jonas consumed books, podcasts, and resources relentlessly to master his craft before making his first deal.Profit First works – The financial structure and clarity from Profit First helped him build and scale a highly profitable operation.Giving back creates fulfillment – Now Jonas is focused on coaching others and sharing the same tools and mindset that brought him success.Links & ResourcesFollow Jonas Medrano on Instagram: @jonasmedranoLearn more about the Profit First system: simplecfo.comIf you enjoyed this episode, please take a moment to rate, review, and share it with someone who would benefit from hearing Jonas’ inspiring journey. And don’t forget to follow the show so you never miss an episode.

Jul 8, 2025 • 36min

Using Profit First to Pivot into Self-Storage Investing with Alex Pardo

In this episode, I sit down with Alex Pardo, a self-storage magnate who transitioned from a thriving wholesaling and house-flipping career to building wealth through self-storage facilities. Alex shares his raw and honest story of realizing he’d built a stressful business that left him feeling stuck, and how he used Profit First principles to regain control of his finances and peace of mind — both in business and at home with his wife.We unpack what it really takes to pivot into self-storage, why he believes it’s one of the most overlooked but recession-resistant assets available to investors, and how Profit First helped him save aggressively for big capital expenses. Alex also discusses who should consider investing in storage, what makes a deal profitable, and how adopting a disciplined money system strengthened his marriage and overall life satisfaction.Timeline Summary:[0:00] – Welcoming Alex and swapping Monopoly stories that reveal his competitive edge.[1:59] – Alex’s first exposure to Profit First through Mike Michalowicz’s books and why it felt like a lightbulb moment.[5:00] – How implementing Profit First let Alex save for a $100K+ CapEx budget, giving him confidence to move forward with major facility improvements.[8:00] – How Alex and his wife adopted Profit First at home with dedicated accounts for vacations, Christmas, and giving — creating harmony in their marriage.[12:52] – What led Alex to ask himself the crucial question that sparked his exit from the wholesaling rat race.[14:35] – Why he calls scaling his wholesaling business “irresponsible growth” and how his experience taught him to value peace over profit.[16:02] – His initial fears about moving into self-storage, and the surprising ways his wholesaling skills carried over perfectly.[18:18] – A look back at whether he regrets leaving wholesaling given the hot post-Covid market, and why he doesn’t.[21:04] – The powerful “play the movie forward” exercise Alex uses to make big decisions with intention.[23:06] – His success story of acquiring, stabilizing, and selling a 638-unit storage portfolio — and why he only needed 1-3 good deals per year to move the needle.[25:23] – Why self-storage can be semi-passive after stabilization, and how Alex spends just 1-2 hours a week managing hundreds of units.[27:04] – Breaking down the three phases of acquiring a storage facility: marketing and analysis, financing and due diligence, and maximizing operations.[29:03] – Why self-storage is recession-resistant: the unique psychology of people downsizing but unwilling to part with their stuff.[32:05] – The differences in operating expense ratios between storage (30-40%) and multifamily (45-55%) — and why this margin creates more breathing room.Key Takeaways:Asking yourself tough questions — like whether you’d want to be doing the same thing a year from now — can change your entire trajectory.Profit First isn’t just for business; applying its principles at home can bring couples closer and build long-term stability.Your existing real estate skills may translate seamlessly into self-storage — don’t underestimate how much you already know.Location and demographics are critical; a rough market can mean higher break-ins and delinquencies, even in storage.Storage can provide high cash flow with lower management demands than single-family or multifamily rentals — making it ideal for those seeking freedom.Links & ResourcesLearn more about self-storage investing and get free training from Alex at https://storagewins.comIf you want to keep more of what you make with Profit First, visit https://simplecfo.com

Jul 1, 2025 • 32min

Stop Chasing Deals & Invest Like a Bank with Notes with Patrick Franz

What if you could stop chasing deals and start collecting payments like a bank? In this eye-opening episode, I sit down with Patrick Franz, founder of Note Investor University, to explore the power and potential of note investing—an often-overlooked strategy that’s changing the game for savvy real estate investors. Patrick pulls back the curtain on how owning mortgage notes can create more security, scalability, and true passive income than traditional rentals or flips.Whether you’re tired of toilets, tenants, and turnover or just looking for smarter ways to grow your portfolio, this episode is packed with insight. We talk about the difference between owning real estate and owning the paper behind it, how to find and evaluate notes, and how you can leverage private capital to build a cash-flowing note portfolio—even if you’re brand new to the space.Timeline Summary[1:18] - Patrick Franz explains what note investing is and why most real estate investors haven’t explored it[2:56] - Key differences between real estate investing and buying promissory notes[5:03] - A side-by-side comparison of the landlord model versus the lender model[10:06] - How buying notes at a discount creates instant equity and above-market returns[13:51] - Understanding the secondary mortgage market and how to legally step into the bank’s shoes[17:08] - Where to find notes and why sourcing them isn’t the hardest part[20:03] - Why notes are safer and easier to pitch to private lenders than rental properties[22:21] - The magic of amortization and why it benefits note holders over time[24:28] - How third-party servicers manage the process and make it truly passive[27:12] - How to work with Patrick and what Note Investor University offers[29:35] - Real success stories and what’s possible within just 12 months of learning and applying note investing strategiesKey Takeaways1.You don’t have to own the property to profit from real estate – owning the debt can be even more powerful.2.Note investing offers instant equity and stable, predictable cash flow, often with double-digit returns.3.Notes are easier to pitch to private lenders because they are safer, backed by real estate, and not subject to market fluctuations.4.You can scale your portfolio using OPM (other people’s money) once you master the process and build your expertise.5.Financial freedom is achievable within 36 months with the right note investing strategy and education.Links & Resources•Schedule a call with Patrick: calendly.com/thenotementor•Learn more about Simple CFO: https://simplecfo.com •Contact David Richter and Simple CFO: https://rei.simplecfo.com/scheduleacall•More about David Richter: https://join.simplecfo.com/david•Want David on your podcast? Contact us at: john@simplecfo.com •Browse notes: paperstac.com•Financial clarity and coaching: simplecfo.comIf this episode opened your eyes to a smarter, more secure way to invest in real estate, follow, rate, and review the Profit First for ROI podcast. And don’t forget to share it with a friend who needs to hear this. Let’s help more investors make profit a habit in their business.

Nov 11, 2024 • 29min

Creative Financing and Profit First: Building Wealth in Real Estate with Joe and Jen DeFave

"Our favorite way to buy real estate is to learn how to buy rentals without banks, without using your credit, and this is the strategy we've been using now for eight years."In this episode of Profit First for REI podcast, we interviewed Joe and Jenn Delle Fave on the show. Joe and Jenn are real estate investors, coaches, and the duo behind the Creative Finance Playbook—a YouTube channel where they share the wonders of non-traditional financing for real estate.Listen as they share their experiences with Profit First and what it feels like working with a CFO. They also talked about learning to buy rentals without banks and credit cards, how to get leads, and more! Enjoy the show!Key Takeaways:[01:05] Introducing Joe and Jenn Delle Fave[03:21] Jenn's experience with Profit First[05:26] Surprising things working with a CFO[12:19] Learn how to buy rentals without banks[18:16] How does marriage help them on the financial side of things?[22:20] How do I get leads?[25:35] Connect with Joe and Jenn Delle FaveQuotes:[03:48] "A CFO is for anyone looking to get their financials in order, and take that stress off of you as an entrepreneur because there are a lot of other things you can be doing, and should be doing with your time."[14:19] "The key [in real estate] is to have a strategy that isn't depending on the rates of banks and things like that..." [22:31] "This was probably my biggest challenge, and I've noticed this is a lot of folks' biggest challenge: How do I get leads?... We've found a free method. It costs zero dollars to do... by using Facebook groups."Connect with Joe and Jenn:Website: https://creativefinanceplaybook.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

Aug 13, 2024 • 28min

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