

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

Sep 15, 2022 • 29min
From Wall Street Misery to Finding Purpose in Real Estate with Daniil Kleyman
In this conversation with Daniil Kleyman, you’ll get a chance to learn how to master REI from a real estate developer expert. Daniil has mastered real estate from the ground up. He’s an owner/operator of a development company and established a management software that’s currently helping thousands of investors. Today we hear from Daniil's insights on how he's been able to grow organically in this field. He’ll be sending us tips on what to do, what to avoid, and how to supersize our efforts and make a profit from them.Key Takeaways:[1:43] Daniil’s background in real estate [6:11] How did he grow as a real estate investor?[9:21] How did the “rehab valuator” help him in scaling up his process?[13:24] What early lessons did he learn about money, and how does it compare with what he’s learned about money today?[18:07] What are the biggest mistakes or hurdles that investors experience as they start their career in real estate?[18:53] Become good at one market and strategy. Focus is incredibly important.Quotes:5:22 "I find real estate incredibly rewarding outside of the money that you make."13:49 "A lot of us learn how to manage money but don’t know what is going on."18:20 "Find one thing that you’re good at. Find one thing that you focus on. And find one thing that you become an expert on. "Links:Rehab Valuator Website-https://rehabvaluator.com/ Profit First Real Estate Investors FB Group-https://m.facebook.com/groups/ProfitFirstREI/ Simple CFO-https://simplecfo.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

Sep 12, 2022 • 37min
Getting Your Time Back and Profit First Basics With Oscar “The Closer” Setiawan
"Start making profit a habit in your business."Wise words from today’s guest, Oscar "the closer" Setiawan. Oscar is a man with great achievements—a real estate owner, investor, private lender, and serial entrepreneur who aims to achieve legacy wealth with the systems and processes that he has been cultivating. Through determination, he turned his side hustle into a full-time business. He now helps distressed property owners solve their real estate problems.Let’s learn about his story entering the real estate investing arena and how he chose real estate to build generational wealth. Listen in and find out how Oscar can help you win in this fast-paced industry.Key Takeaways:[2:30] What’s the story behind his nickname “Oscar the closer”?[4:20] What excites him the most about real estate investing? [8:02] Know your numbers, calculate them, and do all the things in between. [16:11] How does the Profit First system help investors? [18:34] His story about transitioning from real estate investor to real estate owner [22:24] Defining "generational wealth" in accordance with his personal experiences [24:27] What are some "core concepts" about money that he wants to pass on to his children?[27:17] What is one key to his success?Quotes:[4:59] "Real estate is something that will change people’s lives when you do it correctly."[5:23] “It is good to have a goal. It is good to have a drive in real estate, but if you don’t do your homework, you can get into a lot of trouble.”Links:Oscar on Instagram- https://instagram.com/oscarthecloser?igshid=NmNmNjAwNzg= Oscar’s Linktree-https://linktr.ee/oscarthecloser Quickbooks-https://quickbooks.intuit.com/ph/ Profit First Real Estate Investors FB Group-https://m.facebook.com/groups/ProfitFirstREI/ Simple CFO-https://simplecfo.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

Sep 8, 2022 • 39min
Brittany Thompson’s Vision-Driven Journey With Profit First
Every success story always starts with something. As investors, we start these businesses to fulfill our dreams and visions. It’s our fuel to climb high, giving us the might to push through beyond the limits. Without having a clear picture of where we're going, we wouldn’t be able to propel and move forward.We’ve invited Brittany Thompson here to join us as we discuss the ways in which your vision puts you in your driver’s seat. So you can get away from that mind trap and steer your goals towards practicality.If you listen to this, you'll have an idea of how to work your way through as a real estate investor and keep up with the challenges that your business brings.Key Takeaways:[3:16] What excites her the most about real estate investing?[7:00] What financial struggles has she faced in life and business?[8:34] Why does she think that a lot of real estate investors or business owners in general experience money struggles or live deal to deal?[12:36] Was she ever forced to live deal to deal in real estate, or was she able to avoid it entirely?[17:05] When did she start using the Profit First system and how does it apply to her journey in real estate?[29:14] Understanding what it is to have plenty and understanding what it feels like to never have enough.Quotes:[9:30] "The reason that a lot of people struggle in real estate is because they don’t have a vision of why they’re doing it in the first place."[14:06] "There are so many people that want success but don’t want the journey that comes with it." Links:She’s Killing It Website: https://www.sheskillingit.com Get My First Deal Challenge: https://www.getmyfirstdeal.com/august29 Profit First Real Estate Investors FB Group: https://m.facebook.com/groups/ProfitFirstREI/ Simple CFO: https://simplecfo.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

Sep 5, 2022 • 25min
Lien With It, Rock With It: Jay Drexel’s Journey From Retail Arbitrage to Tax Lien Investing
Jay Drexel is the jack of all trades when it comes to tax lien investing. With decades of experience, he will teach you how to skip the learning curve and get profitable faster than you could on your own. Jay has been doing tax yield deals for quite some time... and he loves teaching others his REI secrets.Let’s find out how to avoid the mistakes that most investors make and get the strategies to get guaranteed returns.Key Takeaways:[2:35] What got him into taxing and real estate?[6:46] What’s the process of his tax default property investments?[11:35] One great advantage of foreign investing is the price point.14:44 What early lessons did he learn about money, and how does it compare to what he learns about money today?16:59 What is one of the biggest mistakes investors make in real estate investing?Quotes: [13:25] "Let’s find you someplace that’s easy to invest in, that’s affordable and works within your budget, and has a good rate of return."[15:33] “You don’t have to start with a ton of money to be able to retire comfortably. It’s about what you keep and learning all the different things. "[19:46] "Continue to learn different aspects and different points of view"Links:Text “invest” to 72000 to get access to their free ebook!United Tax Leins: http://unitedtaxliens.com Profit First Real Estate Investors FB Group: https://m.facebook.com/groups/ProfitFirstREI/ Simple CFO: https://simplecfo.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

Sep 1, 2022 • 32min
Generational Wealth and Leaving a Legacy With Trey Taylor
Today’s guest derives his experience from diverse fields such as technology, financial services, venture capital, and commercial real estate. On top of that, he runs a family office where they nurture budding entrepreneurs from generation to generation, optimizing growth and wealth together as a family.Trey Taylor is the talk of the town. He’s the managing director of Trinity | Blue, a consultancy designed to provide executive coaching and strategic planning to C-Suite leaders. He is frequently featured as a keynote speaker and has addressed attendees at the Human Capital Institute, the Ascend Conference, and many other engagements.Key Takeaways:[2:21] What got him interested in real estate?[5:18] What is a family office? [6:52] Understanding that wealth comes through focused action and dedicated hard work[8:30] How does he find a business to invest in?[12:13] What was the thought process behind writing a book?[17:13] What early lessons did he have about money and what does he think about money today?[22:28] How does he manage the money as a real estate investor and implement the Profit First system on his end?Quotes:[3:30] "When you combine multiple generations of wealth into one investment thesis and philosophy, you’d be surprised at how many doors have opened."[25:38] "You better buy it right because the world is changing."Links:Read Taylor’s Newsletter-https://plantyourflag.substack.com/pe Taylor’s Website-http://taylorinsuranceservices.com/ Taylor’s LinkedIn-https://www.linkedin.com/in/treytaylor/ A CEO Does Only 3 Things by Trey Taylor-https://www.amazon.com/CEO-Only-Does-Three-Things/dp/B09HMYRD78 Trinity|Blue Consulting Firm-https://trinity-blue.com/ Rich Dad Poor Dad by Robert Kiyosaki-https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194 Profit First Real Estate Investors FB Group-https://m.facebook.com/groups/ProfitFirstREI/ Simple CFO-https://simplecfo.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 29, 2022 • 29min
So Long, Corporate America: Paul Thompson’s Journey to Freedom and Abundance
Paul David Thompson is always on a mission to help purpose-driven men and women entrepreneurs break the mundane corporate cycle by teaching them to start investing. He’s an expert in scaling up businesses to the next level by guiding aspiring real estate investors through the process of closing record-breaking deals. Today we dive into the finer details of how he’s able to incorporate the Profit First system so he can attain a life of abundance and live his life by design under his control.Key Takeaways:[1:56] How did he get started in his real estate career? [4:42] How does he get passive income in a quicker way? [8:34] What were his early lessons on money like, and how do they compare to how he thinks about money now?[13:08] What money mindsets does he want to pass on to his children? [16:36] What are his thoughts on the Profit First system and how did it help him through his business? [18:30] What other benefits from Profit First has he found out and how does it give him a sense of clarity and control?[23:08] Take what the market gives youQuotes:[3:50] "You’re constantly adjusting to the marketplace and to what marketing channels work, building systems and processes and people around having a business that does that consistently."[9:09] "When you find the opportunity to raise money in real estate, it’s not hard to make money."Links:My Freedom Foundry - https://pauldavidthompson.com Profit First Real Estate Investors FB Group - https://m.facebook.com/groups/ProfitFirstREI/ Simple CFO - https://simplecfo.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 25, 2022 • 29min
From India to America: Kapil Singla’s Profit First Journey
We have a returning guest on the show today, and that's none other than Kapil Singla. The young entrepreneur who skyrocketed his way to the top after moving to the US.In this episode, he'll be giving us an update of where he's at in his life and business after a few years of implementing systems and using Profit First as key drivers to his success.Key Takeaways:[2:05] Kapil shares his whole real estate story with us.[9:12] What early financial lessons did he learn, and how do they compare to where he is now?[13:03] How is profit first factored into his business?[15:15] In terms of finances, what does he value the most in his business?[18:15] What are the lessons around money that he wants to pass on to the next generation?Quotable Quotes:[8:22] "A lot of people, no matter what level they’re at, find it important to surround and connect with people that share the same goals as you."[10:07] "Money was hard, money was everything at some point."[10:35] "A persistent action towards a goal and having the faith to back up your ideas makes money come to you."Links:Contact Kapil: 929-4139-322Kapil’s Facebook-https://m.facebook.com/kapil.singla.756 Profit First Real Estate Investors FB Group-https://m.facebook.com/groups/ProfitFirstREI/ Simple CFO-https://simplecfosolutions.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 22, 2022 • 24min
Action + Action: Mike Fitzgerald's Simple Formula for Massive Results
One dream can change everything. And our guest Mike Fitzgerald couldn’t agree more with that statement. He started with a dream of owning nine rental properties, and now he’s been able to live up to that. Mike is a champion in the REI world. He’s been in the business for quite some time, has purchased over 250 properties, and even gotten an award as "the business person of the year."He’s living proof that if you drive towards your purpose and you drive towards excellence, you’ll be able to achieve success. He’s here today to help us create great habits that make us proud of who we are and what we’ve become and step towards our vision and dreams.Key Takeaways:[1:35] How did he get into the real estate investing world?[6:04] What was it like to grow a team for his business?[8:33] What is the state of his business after years of implementing the Profit First system?[10:42] Mike talks about the evolution of his money mindset throughout the years[12:00] What key things and tactics are essential to his success?[14:22] The importance of having the right people around you[17:52] Make sure to take massive action to get where you are.Quotable Quotes:11:17 "As you evolve, as you move forward, it becomes easier and easier."12:23 "If you dream it, you can do it."18:48 "Stick with your dreams. If you want to do real estate, it’s going to become your reality,"Resources:Mike’s Instagram-https://instagram.com/mike2thefitz?igshid=YmMyMTA2M2Y= Profit First Real Estate Investors FB Group-https://m.facebook.com/groups/ProfitFirstREI/ Simple CFO-https://simplecfosolutions.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 18, 2022 • 27min
Overcoming the Challenge of Fear in Real Estate With Brad Blazar
Brad Blazar has studied the habits of success. He’s an expert when it comes to raising capital and has been raising hard-earned money since the young age of 23. After years of managing his oil company, Brad realized that his true passion lay in helping others while still raising money for himself.Brad’s coaching program , Capital School, has garnered praise across the globe and is highly recognized in the REI space. Helping budding real estate geeks on their business journey.Today, we invited him over to have a chat with us and talk about how to climb up that success ladder the smart way.Key Takeaways:[2:16] How did he start on his real estate journey?[5:46] He learned the value of trust and building relationships with the people around him[7:53] The story of how he launched his first oil business at the age of 23[12:21] Does he teach people how to raise money from different sources?[15:23] How to get off the transactional treadmill and create a passive lifestyle through commercial real estate[16:27] Tips on how to raise money the easy wayQuotable Quotes:[16:56] "We, as human beings, know how our brains are wired, are not wired to be successful. Our brain is programmed into one thing and that is to keep us alive. "[21:46] "Investors do not invest in great ideas."Links:Brad’s Website-https://www.bradblazar.com Books by Brad Blazar-https://www.bradblazar.com/the-book Capital School-https://www.bradblazar.com/capitalschool 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 15, 2022 • 24min
Stop Trading Your Time for Money: A Profit First Journey With Nick Perry
Our guest for this episode started investing in real estate around eight years ago with little knowledge on his hands. 11 months and 104 failed deals later, he finally landed his first paycheck. What made him successful is that he stayed away from the safe route, applied a systematic investing approach, and followed his mentors who showed him the way to accumulating wealth and success. You may be thinking that real estate investing is hard. But once you crack the code, you’ll eventually realize how simple it is. If he can do it, so can you!Today, let’s take a deep dive into how to scale a seven-figure business using Nick Perry’s systems and processes. Learn the hacks and tricks of real estate investing by clicking on that play button!Key Takeaways:[1:39] How did he get into real estate investing and where is he on his journey today?[4:08] What is he doing right now in real estate and how does he help other people?[10:39] How does he make sure to prioritize profit and pay himself first?[15:17] Are they using KPIs to make sure that they’re on track?[17:54] Nick’s real estate advice to the listenersQuotable Quotes:[7:26] "Your business is never going to outgrow you."[11:01] "When you pay yourself first, that’s what’s going to allow you to go out and create."Links:Nick’s Instagram-https://instagram.com/nickperryrei?igshid=YmMyMTA2M2Y= The 7 Figure Cartel-https://www.7figurecartel.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