

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

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

Dec 26, 2023 • 29min
Air Force Captain to Real Estate Mogul: A Path to Early Retirement
"How to structure business better to create the lifestyle that I wanted?"If you have this question, we have Zach Lemaster to answer it! Zach is a seasoned real estate investor who has accumulated a large portfolio of rental properties across multiple markets.He talks about his "Rich Dad, Poor Dad" journey and doing real estate while he has another business. Listen and enjoy the show!Key Takeaways:[00:58] Introducing Zach Lemaster[02:13] Rent to Retirement[04:58] Starting his real estate journey[07:00] House Hacking[10:39] The Lens of Business Ownership[13:58] Turnkey[22:58] Building long-term relationships with people[26:35] Connect with Zach LemasterQuotes:[03:22] "I like real estate because it is tangible. You could see the results."[12:33] "The good thing about real estate investing is it can start as a side hustle, and it can always be a side hustle."[14:37] "Building true wealth is from owning real estate, maximizing tax benefits..."Connect with Zach:Website: https://www.renttoretirement.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

Dec 19, 2023 • 33min
Sam Wegert's Entrepreneurial Journey: From Martial Arts to Co-Living Real Estate
Do you want to know how to get into real estate in a way where you have fewer properties to obtain financial freedom?Listen as we interview Sam Wegert in this episode of Profit First for REI podcast. He talks about co-living and making more money from the properties you already have. Things like spending, keeping, and making more money, and lots of golden nuggets here. Enjoy the show!Key Takeaways:[01:05] Introducing Sam Wegert[07:57] Getting into the real estate realms[10:47] The co-living space[16:25] Squeezing cash flow out of a property more than it would normally produce[21:05] Two ways to start co-living space[25:58] Co-living space as a legitimate business[30:10] Connect with Sam WegertQuotes:[10:05] "I got to be successful, and successful people are saying real estate."[10:52] "It is [Co-living] the fastest way to achieve financial freedom for the average person in real estate today."[29:11] "If they want to scale big, they need the right systems to manage the tenants."Connect with Sam:Website: https://www.scaleyourrealestate.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

Dec 12, 2023 • 34min
Adapting to Change: Anderson Advisors' Ongoing Evolution in Tax and Real Estate
In this episode of Profit First for REI, we have Toby Mathis. He is a speaker, author, investor, and one of the founding partners of Anderson Advisers.Toby talks about the best ways to get the most from your rentals. He also gives breakdowns of processes for different mindsets and team members he had.How to become an actual real estate investor with the right mindset? Find out on this episode. Enjoy the show!Key Takeaways:[01:10] Introducing Toby Mathis[03:05] Establishing Anderson Partners[10:37] The hard part of scaling up[15:15] Why do investors live deal to deal?[24:24] Maximizing your properties[30:18] Toby's advice for first-time real estate investors[31:49] Connect with Toby MathisQuotes:[13:04] "You have to have a good team, it is non-negotiable."[18:00] "You might want to buy things that are highly profitable, generating income, and use that income to continue to buy more assets."[30:20] "Don't own things in your name."Connect with Toby:Website: https://tobymathis.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

Dec 5, 2023 • 35min
Building Wealth through Real Estate: Mathew Pezon's Buy and Hold Strategy
In this episode of Profit First for REI podcast, we have Mathew Pezon. He is a real estate investor turned business owner and owns hundreds of units.Mathew tells his story from having to live deal-to-deal to now having over a year's worth of cash reserves in the bank. He also shares how the whole process of mental shift helped him on his journey. You have a lot of stories and knowledge to learn from Mathew. Listen and enjoy the show!Key Takeaways:[00:59] Introducing Mathew Pezon[03:18] How he got into real estate investing[08:45] His first investment[12:53] Importance of a system to manage finances[21:30] Plans for the next ten years[23:49] The mental shift[26:55] Mathew's advice for investors living deal to deal[33:00] Connect with Mathew PezonQuotes:[08:26] "Make sure that you are going for a purpose at the end of the day."[12:59] "Before when I was a solopreneur, I was very familiar with all the details but it wasn't scalable because everything was in my head."[27:00] "Slow down and be intentional about what they want and why."Connect with Mathew:Website: https://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

Nov 28, 2023 • 25min
From Failed Flip to Marketing Maven: Bob McIntosh's Real Estate Success Story
"Provide good value. If you do that, you will find success."In this Profit First for REI podcast episode, we interviewed Bob McIntosh. He is an expert in the marketing space, particularly in online marketing.Know more about marketing, internet marketing space, and providing value to find success. If you have trouble making money, this episode is for you!Enjoy the show!Key Takeaways:[00:49] Introducing Bob McIntosh[01:58] Why Marketing?[03:37] Internet marketing then and now[09:30] Are you utilizing all available tools to their top performance?[11:04] More time than money, more money than time[16:01] Bob's advice for those starting in their real estate journey[22:37] Connect with Bob McIntoshQuotes:[06:03] "If I look across time, the thing that always works the best just provides good value... if you do that, regardless of what changes in the technology went today, you will gonna find success."[11:05] "Every single form of marketing requires one of two things and sometimes both, either time or money. Sometimes it takes both."[14:55] "If you find something that works, just dial up the volume until it doesn't work anymore."Connect with Bob:Website: https://go3dc.com/bobmcintosh/ 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

Nov 21, 2023 • 41min
The Human Side of Business: Tough Decisions and Leadership with Steve Trang
"Sales is not just about making the money. It's also about how you make everyday relationships better in your life."In this episode of Profit First for REI podcast, we have Steve Trang, a sales coach who helped hundreds of clients generate millions in sales over the past few years.If you want to close more deals, make more sales, and apply the principles to your family and friends, it is the best podcast for you! Enjoy the show!Key Takeaways:[00:49] Introducing Steve Trang[04:31] The toughest decisions[09:31] Sales at Home (Mirroring and Labeling)[17:01] How is it important for an owner to know sales?[22:11] Steve's book recommendations [24:12] What makes Steve different from other trainers?[34:03] Getting into the sales world[38:18] Connect with Steve TrangQuotes:[04:32] "Systems is pretty easy... vendor relations, that was harder but the most difficult are always people."[11:10] "Asking 'what' and 'how' questions, we create a psychological safety where they can speak freely. When asked 'why' questions, they get defensive and shut down."[24:19] "People don't buy for logical reasons. They buy for emotional reasons."Connect with Steve:Website: https://www.salesdisruptors.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

Nov 14, 2023 • 33min
Strategies for Success: Lessons Learned from Jeremy Beland's 400+ Real Estate Deals
"You need to continue to get better because the market changes, people change, and all that stuff."In this episode of Profit First for REI Podcast, we have Jeremy Beland. He is a real estate investor and a client of Simple CFO, who has acquired 400+ off-market properties since 2017.Listen as he talks about how he got into real estate, what kept him in real estate, achieving REI freedom, and getting the right people in place. Listen and enjoy the show!Key Takeaways:[00:58] Introducing Jeremy Beland[02:29] How he got into real estate[07:10] Importance of self-development and education[11:32] Jeremy starts wholesaling[13:01] Helping other people through REI freedom[19:20] Life look like before Profit First[25:07] Time is more valuable than money[29:03] Connect with Jeremy BelandQuotes:[06:44] "It wasn't easy. I made a lot of mistakes, but I knew it was the way to go because I've wanted to be in control of my own destiny."[21:43] "As you grow, you got to build the team... hustling is just a season."[25:07] "There's nothing more valuable than time."Connect with 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

Nov 7, 2023 • 30min
Ten Years, Countless Deals: Anthony Coffey on the Frontlines of Real Estate Innovation
"I want to talk. I love doing deals and real estate as the vehicle. I love creating value and solving problems."We have Anthony Coffey for this week's episode of Profit First for the REI podcast. He had a lot of great insights from being in the real estate world for over ten years.In this episode, he shared tips on how he built his business and what it takes for him to be successful in the real estate game.Listen and enjoy the show!Key Takeaways:[00:47] Introducing Anthony Coffey[02:43] Burning the boat to real estate[07:35] Hardest thing he encountered in real estate[11:19] Before and after Profit First[18:00] Know, Like, and Trust[26:00] His advice for first-time investors[27:44] Connect with Anthony CoffeyQuotes:[07:47] "Managing the people is by far the hardest... you just never know how another person is thinking or feeling."[11:55] "Managing the debt is like a game in general."[18:02] "They have to know you, like you, and trust you."Connect with Anthony:Website: anthonycoffey@mail.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

Oct 31, 2023 • 36min
Navigating Short-Term Rentals and Real Estate Success with Jen Josey
In this episode of Profit First for REI Podcast, we have Jen Josey. She is a great real estate investor and helped people grow their businesses.She talks a lot about how she was successful in buying into one of those courses that cost a lot and how she got up and running.Let's talk more about money mindset, short-term rentals, and translation of numbers in business. She will also share what are the things that helped her get to where she is right now. Enjoy the show!Key Takeaways:[01:09] Introducing Jen Josey[03:17] How she started on her real estate investing journey[07:19] Jen's first property and first project[13:40] Finding out Profit First[17:38] Focusing on short-term rentals[23:00] Make sure short-term rental works as a long-term rental[28:29] Jen's advice[32:12] Connect with Jen JoseyQuotes:[06:50] "Surrounding yourself with the right people also was a huge benefit as well."[22:52] "Do not buy anything unless it works as a long-term rental because, in this market, you never know if they are going to oust AirBnB."[29:01] "Don't be afraid of paying for coach."Connect with Jen:Website: https://www.therealjenjosey.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