029 David Richter of Simple CFO and Profit First for REI talks paying yourself first, inertia of money, using the Profit First principles and lessons learned from BRRRR and buy hold investing

David Richter is an active real estate investor who has been essential in closing over 850 deals which include wholesale, turnkey, BRRRR, owner finance, rentals, lease options, and any other exit strategy you can think of. While growing and building a real estate business from 5 deals a month to over 25 deals a month, he realized that as much money was coming in, it was going right out. With the unique opportunity of being in every seat as a real estate investor, he found a calling to the company’s finance seat to help them see where their money was really going. David has helped real estate companies completely turn around from going out of business to building cash reserves through his profit advising company Simple CFO Solutions, LLC. He is the author of Profit First for Real Estate Investing. His goal in life is to completely transform the Real Estate Investing industry when it comes to how real estate investors view their finances and – bring them true financial clarity and freedom.

David is a wealth of knowledge on both investing and financial management. In our conversation, David breaks down the fundamentals of running your real estate investments as a business, how not to create another job and how to keep your money working for you. David's approach focuses on profit first, building inertia and growing quicker. 

 

Josh Wilson:

• Simple CFO: https://simplecfosolutions.com/ 
• Linkedin: https://www.linkedin.com/company/simple-cfo-solutions 
• Profit First for Real Estate Investing: https://www.amazon.com/Profit-First-Real-Estate-Investing-ebook/dp/B098865Y5B 

Investories:

• YouTube: https://www.youtube.com/channel/UCh96X8fbT3oWivXzvcorniQ
• Tik Tok: https://www.tiktok.com/@investoriespod
• Instagram: https://www.instagram.com/investoriespod/
• Email: investoriespodcast@gmail.com

Kyle:

• Facebook: https://www.facebook.com/yourmultifamilymentor
• Instagram: https://www.instagram.com/your_multifamily_mentor/?hl=en

John: 

• Instagram: https://www.instagram.com/hoopeezy/?hl=en
• Airbnb: https://airbnb.com/h/ponderosapinehaus