Profit First for Real Estate Investors

David Richter
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Mar 5, 2024 • 38min

Unshackling Entrepreneurship: Finding Freedom Beyond Financial Success

"People become entrepreneurs because they want freedom, they want control. What happens is typically, the profession and the phase to get more and do more ends up controlling them."Joining us in this episode of Profit First for REI podcast is Brad Chandler and Yvonne Trost. Brad and Yvonne's passion is to help people. They created a program as an opportunity to help people make a true impact on their lives.In this episode, Brad and Yvonne dive deep into what is holding you back as a human being and as an entrepreneur. They can help you with the key aspects and first steps of getting on a better path, so keep tuned in!Key Takeaways:[00:57] Introducing Brad Chandler and Yvonne Trost[06:04] The self-worth issue[10:57] Being an entrepreneur as a trauma-response[13:34] Everything that they have is inside them[19:17] The limiting beliefs[21:12] Letting go of fear and judgment[26:00] The different money mindsets[30:00] Reason behind perfectionism[31:30] Connect with Brad Chandler and Yvonne TrostQuotes:[07:28] "It's built into us to find safety...our self-conscious mind's job is to keep us alive and safe."[13:22] "Quite often, the things that we seek outside of ourselves are the things that turn around and not give us what we intentionally wanted to begin with... everything that they have is inside them."[19:17] "You are the only person who limits you, not society, not the world, not your education, it's you. Primarily you limit yourself by self-learning beliefs that are in your head."[30:51] "Trauma isn't the actual bad thing that happens to you. The trauma is the meaning that you place on that event."Connect with Brad and Yvonne:Website: https://www.bradchandler.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
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Feb 27, 2024 • 29min

Balancing Business and Family: Lindsay Sharma's Path to Financial Clarity

This episode of Profit First for REI podcast will give you more hope. Wherever you are now, there is a way out of it!Lindsay Sharma, a mom and wife, has been in real estate for a year, but she is doing a great job! In this episode, she tells her journey in the real estate world and the money struggles she has gone through.Listen as she shares how Profit First has helped her in this real estate journey. Enjoy the show!Key Takeaways:[00:55] Introducing Lindsay Sharma[02:30] Being a real estate investor and a parent at the same time[05:48] Money struggles [09:05] Burn out as a real estate investor[11:12] Transition from working for a real estate investor to becoming your boss[13:40] Introducing Profit First[21:01] Being strategic and proactive about finances[24:34] Her advice for people starting their real estate journey[26:46] Connect with Lindsay SharmaQuotes:[03:14] "You have to be extremely organized and efficient as a business owner and mom, so I've learned to delegate, communicate my needs, and be very organized and prepared. Always thinking one step ahead."[13:00] "Starting a business or jumping full time as a real estate investor, you wouldn't believe how fast you can spend your money on everything to operate a business."[24:40] "Be patient, and don't try to scale too quickly."Connect with Lindsay:Website: https://www.lspropertybuyers.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
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Feb 20, 2024 • 27min

Real Wealth Network: Building a Community of Real Estate Investors with Kathy Fettke

"Understand what you are trying to achieve and stick with it because it's easy to get distracted."In this episode of Profit First for REI podcast, we have Kathy Fettke. She is the CEO and Co-Founder of Real Wealth Network and the host of The Real Wealth Show. Kathy is a real estate investor, licensed Realtor, and a certified coach who will give you great information into the wholesale flip-side and the passive side. She also talks about her journey into the passive side of investing. Enjoy the show!Key Takeaways:[00:52] Introducing Kathy Fettke[02:20] Start of Kathy's real estate investing journey[03:54] Her first property[06:37] Understanding the power of leverage and where to use that leverage[10:11] Over leveraged[13:06] What goes on today with Real Wealth?[15:16] Kathy's advice for first-time real estate investors[21:13] Learn and understand investment[24:04] Connect with Kathy FettkeQuotes:[02:55] "Saving the 10% in investment and 10% in emergency savings, you could blow that quickly in an emergency. I wanted to be with my family and have a passive income where money still comes in and you are not working."[08:56] "It's hard to fail when you know your stuff. It is easy to fail when you don't because that's when you trust people whom you think, do know."[15:27] "Where you start is figuring out what you need."Connect with Kathy:Website: https://realwealth.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
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Feb 13, 2024 • 30min

Insider Insights: Mathew Pezon Shares Secrets to Profit First Mastery

"If I would have implemented Profit First sooner, I would have realized the potential that the business had a lot earlier than I did..."In this episode of the Profit First for REI podcast, we have Mathew Pezon. He is a seasoned real estate investor, bilingual engineer, and businessperson. He shares his story of his leap of faith into real estate, where he is now versus where he was.Mathew also digs into what he tracks to ensure he doesn't waste his money. This episode includes KPIs, Profit First, and more cool stuff. Enjoy the show! Key Takeaways:[01:00] Introducing Mathew Pezon[02:04] What's new with Mathew?[03:43] His Profit First Journey[07:40] The transformative power of Profit First[10:46] Tracking the numbers [15:34] Mathew's advice for people who don't have fancy CRM[23:21] Mistake that he made[25:31] Asking the right questions[27:17] His advice for people starting their real estate journey[28:00] Connect with Mathew PezonQuotes:[07:11] "For me the Profit First minds, it's a mindset. It's a continuous pursuit... It's what we live every day."[11:33] "As we are putting together our financial projections in our budgeting, we budget a certain amount for direct mail. But if we are sending it to the wrong list, now we have data we can know that. That's more profit we can keep by mailing to the right list."[17:32] "I would encourage everyone to do that math so that you know if the system is right or not."Connect with Mathew:Website: https://www.pezonproperties.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
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Feb 6, 2024 • 29min

Building a Thriving Real Estate Business with Supercharged Offers

In this episode of Profit First for REI podcast, we have Alicia Jarrett. She is the co-founder at Supercharged Offers and has been in real estate for eight years.Listen as she gives you practical advice on marketing in the real estate investing world. Alicia will also teach you how to get the leads so you can make more money to keep.There's a lot of value in this episode. Listen and enjoy!Key Takeaways:[00:55] Introducing Alicia Jarrett[02:40] How she started in the real estate industry[05:59] What makes Supercharged Offers different from other marketing companies?[12:09] Best Channels for Marketing[17:30] 20% of your profit needs to go back into your business[24:27] Alicia's advice for real estate investors[26:31] Connect with Alicia JarrettQuotes:[08:06] "Marketing needs to cover all demographics, all people, all ways of doing business."[19:03] "Marketing is an investment if done right."[25:35] "To be successful in real estate investing, you've got to move past the fear of the unknown."Connect with Alicia:Website: https://superchargedoffers.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
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Jan 30, 2024 • 38min

From Intent to Impact: Strategies for Successful Real Estate Transactions

Are you having trouble connecting with people? Do you have sellers ghosting you?Our guests for today are Jeremy Beland and Dan Toback. They will give you incredible information about connecting with people. It is one of the best episodes if you want to bring a deal in the door.Be intentional with every conversation. They give practical steps where there is one text message in this episode that you can send to your database, and you will surely get a deal.Listen and enjoy the show!Key Takeaways:[00:47] Introducing Dan Toback and Jeremy Beland[02:58] Jeremy and Dan join together to help real estate investors[06:59] Helping people in real estate investing[11:02] Heart game vs telling game[15:54] The person vs the house[21:13] Verbal commitment[26:33] The text message[30:28] Moving the pressure off of the situation[33:00] Connect with Dan and JeremyQuotes:[08:35] "It wasn't even about becoming a salesperson. It was about becoming a servant... and being able to identify and be honest with the sellers that didn't need my help."[11:02] "I think that this business, real estate investment, and serving sellers is more of a heart game and internal game versus a telling game.[17:33] "Don't make it about the numbers. As soon as you make it about the numbers, you lose because... there's no value there."Connect with Dan and Jeremy:Website: https://reifreedom.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
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Jan 23, 2024 • 32min

Achieving Balance and Prosperity: The Entrepreneur Freedom Formula Revealed

There are three things all investors need, and all business owners need to protect to build the company they want to build.Trevor Mauch, the CEO of Carrot, a tech entrepreneur and investor, is passionate about entrepreneurship and its impact on life, community, and prosperity. He has all the practical advice for investors and entrepreneurs.Listen as he also shares the three S's that sabotage business owners and ways to overcome this. Enjoy the show with Trevor! Key Takeaways:[00:57] Introducing Trevor Mauch[02:32] Starting his entrepreneurial journey[06:17] The hardest thing for entrepreneurs to focus on[09:30] The Entrepreneurial Freedom Formula[13:26] Different business levels and pain lines[21:06] The Business Level 5[28:19] Connect with Trevor MauchQuotes:[03:18] "When you combine those three: Your purpose and vision, with a consistent business model, it creates profits." [13:50] "Business has levels. Every single level requires you to do pretty much the same types of things. You need to delegate the right next thing."[24:18] "The purpose of business is about growth, it is about the journey. Business is the best personal growth tool that I've ever seen."Connect with Trevor:Website: https://carrot.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
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Jan 16, 2024 • 39min

Empowering Women in Real Estate: A Conversation with Liz Faircloth

Want to have a lot of practical advice on your real estate investing journey?We have Liz Faircloth on the show. She is one of the co-founders of a massive movement, 'The Invest Her' podcast. Liz started in her 20s not knowing anything about investing, or business and with no money to invest. Now, she owns and manages millions of dollars of real estate.Listen as she shares how she made this possible! Enjoy the show!Key Takeaways:[00:45] Introducing Liz Faircloth[02:30] Shift to entrepreneurial mindset[05:17] Discouragements along the journey[13:13] Liz' movement in real estate investing[16:59] The Women Multiplier Effect[18:55] Her Profit First Journey[28:42] Best lessons she learned in life[36:25] Connect with Liz FairclothQuotes:[03:29] "There are so many different ways to serve. You can help more people."[05:50] "Insanity is when you keep doing the same thing repeatedly and not getting any results."[29:10] "The more I take time for myself and get my self-care needs met... I'm just a better mom, wife, and business owner."Connect with Liz:Website: https://www.therealestateinvesther.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
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Jan 9, 2024 • 34min

Learning from Setbacks: Lessons from the 2006-2007 Financial Crisis

Vision is essential for your business. In this episode of Profit First for REI podcast, Derek Dombeck will teach you how to create a vision for your business and your life. He will also help you make sure your business aligns with that vision.Derek is a successful investor, national speaker, and international best-selling author. He has been in the real estate business since 2003 and founded Generations of Wealth (GOW).Know more about Derek and things you should know about money. There is a lot of cool stuff and knowledge in this episode. Listen and enjoy!Key Takeaways:[00:58] Introducing Derek Dombeck[02:55] Generations of Wealth[08:04] Why real estate?[12:45] The Rule of 72[15:42] Why do people live deal to deal?[19:12] How to know what your vision is?[26:04] The Hardworker[31:01] Connect with Derek DombeckQuotes:[11:00] "I wouldn't be doing what I'm doing today if I never had that failure."[15:55] "They don't know what their result is or their end goal is because they don't have a vision."[22:44] "Once you have your vision figured out, you should share it with the world. You should start telling people because that makes it real."Connect with Derek:Website: https://gowvoyage.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
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Jan 2, 2024 • 28min

Manufactured Houses and Million-Dollar Dreams: Navigating the Rollercoaster of Real Estate

On this episode of Profit First for REI podcast, we have Brandon Richards. He has been in real estate for nine years, focusing on wholesaling and manufactured housing.He talks about the lessons he learned on his investing journey, the quickest route to success, and his semi-traditional way of real estate investing.Listen as he talks about these topics and more about wholesaling and manufactured housing. Enjoy the show!Key Takeaways:[00:54] Introducing Brandon Richards[02:50] Brandon's favorite exit strategy[05:05] Starting their real estate journey[06:50] The ups and downs of real estate[08:20] Why do lots of real investors live deal to deal?[11:49] Not the typical wholesaling[18:24] Hardest lesson as a real estate investor[23:46] The quickest route to success[25:55] Connect with Brandon RichardsQuotes:[05:28] "We knew we wanted to get into real estate, but we didn't know what it looked like."[18:33] "I had a good amount of equity. I had decent cash flow, but I chose the wrong areas. They are in tertiary markets."[24:13] "What makes real estate easier for me is having access to private money."Connect with Brandon:Website: https://www.instagram.com/fearlesspursuitoffreedom/ 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

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