Profit First for Real Estate Investors with David Richter

In this episode of the Profit First for REI Podcast, I’m joined by Etinosa Agbonlahor—a real estate investor, behavioral economist, and the host of the Her First House podcast. Etinosa brings a unique blend of corporate financial insight and personal real estate experience to the table. From working in publishing and banking across continents to designing large-scale financial behavior interventions, her journey is anything but ordinary.

We dive into the psychology of money, why most people don’t follow good financial advice, and how to design systems that actually help people take action. Etinosa also shares her path into real estate, how she built her portfolio from abroad during the pandemic, and why she intentionally slowed down her investing for the sake of peace and sustainability. Whether you’re just starting out or looking to scale with clarity, this episode will give you a powerful perspective on financial decisions—from mindset to execution.

Timeline Summary

[0:00] - Introduction

[1:35] - Etinosa’s background: from corporate finance to real estate investing

[5:33] - The pivotal book that changed her life (and her career direction)

[9:25] - The mentor who helped spark her interest in behavioral economics

[13:13] - What behavioral economists actually do—and how they help companies change financial behavior

[18:10] - The “Benefits Finder” case study that impacted an entire nation

[20:01] - Why simplifying financial decisions is the real game changer

[21:00] - How a rough year in real estate led her to launch Her First House podcast

[23:20] - The wisdom of slowing down: why she didn’t buy a rental in 2024

[25:38] - Reflections on building a sustainable, peace-driven business and life

5 Key Takeaways

1. Behavioral economics helps bridge the gap between intention and action—especially when people feel overwhelmed by financial decisions.
2. Etinosa’s passion for personal finance was sparked by her first paycheck—and honed through global experience.
3. Mentorship doesn’t have to be long-term to be transformative. A single book or conversation can redirect your life.
4. In real estate, success isn’t always about scale—it’s about sustainability and alignment with your personal definition of peace.
5. Financial education should be designed with psychology in mind. Simplifying the user experience increases the chances people actually take action.

Links & Resources

• Website: HerFirstHouse.org
• Instagram: @RealEstateWithEtsi
• Book Mentioned: Predictably Irrational by Dan Ariely
• Podcast Mentioned: Her First House podcast

If you enjoyed this episode, don’t forget to rate, follow, and review the show. Share it with someone who’s ready to take control of their finances—and take action toward their first or next real estate deal!

In this episode, I sit down with Kevin Choe—a 23-year-old real estate investor who’s done over 150 deals using creative finance, all within two years of getting started. Kevin opens up about his humble beginnings, dropping out of college, scraping together stimulus checks for mentorship, and how that leap of faith changed his life.

We dive deep into the mindset, systems, and strategic shifts that helped him rise from $100 to $15K/month—and then to building a scalable business with seller-financed multifamily deals. Kevin shares what it means to bet on yourself, why mentorship was worth every penny, and how bringing in a CFO helped him step fully into the visionary role of his business.

Episode Timeline

[0:00] – Introduction

[1:04] – Why Kevin hired a CFO at 23—and what it did for his growth

[3:55] – How wholesaling got him to $15K/month—and why that wasn’t enough

[5:47] – Two years of struggle before the big breakthrough

[7:01] – 3 game-changing factors that helped Kevin explode his business in 2023

[10:07] – From community college dropout to creative finance expert

[12:06] – How stimulus checks and desperation led to investing in mentorship

[14:02] – The real ROI of mentorship—and how it saved him years of trial and error

[19:13] – The mindset shift: going all-in when there’s no Plan B

[21:32] – Hiring a CFO early to gain clarity, freedom, and scale

[25:21] – Transitioning into seller-financed multifamily and scaling up

5 Key Takeaways

1. You don’t need experience—you need hunger. Kevin built his business from nothing with grit and focus.
2. Creative finance is a superpower in today’s market. Mastering it opened doors no traditional strategy could.
3. Mentorship changed everything. The right guidance fast-tracked his success and rewired his mindset.
4. Financial clarity is key. Bringing on a CFO gave him the tools to scale without chaos.
5. Belief beats backup plans. Betting on himself was the catalyst behind every big move Kevin made.

Links & Resources

• Follow Kevin on Instagram: @thekevinchoe
• Need help managing your money as you scale? Visit: www.simplecfo.com

If Kevin’s story inspired you, don’t forget to rate, follow, and review the show—and share this episode with someone who’s ready to bet on themselves and go all-in.

In this episode, I welcome back my good friend and legendary note investor, Eddie Speed. With over 50,000 notes purchased and more than 25 years of teaching under his belt, Eddie is known as the “Note King” for a reason. If you’re a tired landlord looking for less stress and more cash flow—or if you’re simply seeking a smarter, more passive way to invest in real estate—this episode is going to open your eyes.

We dig into how note investing compares to traditional rentals, why now is the perfect time to pivot, and what makes a “good” note in today’s economy. Eddie also shares insider strategies on seller financing, leveraging, and how to generate long-term passive income without the tenant headaches.

Timeline Summary

[0:00] – Introduction

[1:17] – Why more landlords are ditching rentals and turning to note investing

[2:22] – What’s wrong with today’s rental math—and how notes solve the problem

[3:06] – What is a “note,” and how it makes you the bank (not the landlord)

[4:40] – $250K in rentals vs. $250K in notes: a cash flow comparison

[5:54] – How seasoned investors are converting entire portfolios to seller financing

[7:00] – The current market cycle: Why we’re in a “note era” not a rental one

[10:21] – The formula for a “good” note: Property, buyer, and sticky payments

[12:23] – How Eddie created a marketplace for burnout landlords to transition to notes

[13:35] – The built-in cushion notes provide vs. rental property risks

[15:16] – What most investors actually want: time back and risk-managed returns

[20:15] – Leveraging techniques for when you run out of money

[23:13] – How to join Eddie’s free note masterclass for Profit First listeners

[26:32] – The #1 business stressor Eddie warns investors about: bad accounting

5 Key Takeaways

1. Note investing provides better cash flow with significantly less stress than rentals.
2. Now is a prime time to be in notes—especially as inflation eats into rental profits.
3. Good notes start with good properties and qualified buyers—there’s a formula.
4. Eddie has created a marketplace and training for landlords to transition with support.
5. Financial systems matter: poor accounting has caused more losses than bad deals.

Links & Resources

• Free Masterclass for Profit First listeners: NoteSchool.com/ProfitFirst
• Want to get your finances in order? Visit www.simplecfo.com

If you’re feeling the squeeze in your rental business or just want a more passive path to financial freedom, don’t miss this one. Be sure to rate, follow, and share the podcast if you got value from this episode. Let’s help more investors go from burnout to bankable!

In this eye-opening episode, I bring back Mark Willis, a certified financial planner and expert in non-traditional wealth strategies, to discuss one of the most overlooked wealth-building tools for real estate investors: dividend-paying whole life insurance—also known as the “Bank On Yourself” concept. Mark shares how you can leverage this strategy not just for life insurance, but to create tax-free income, fund your investments, and even replace traditional rentals with guaranteed returns.

If you’re tired of the uncertainty of tenants, toilets, and taxes—or you’re looking to diversify your portfolio while protecting your wealth—this episode is a game changer. We cover the powerful ways to use whole life insurance for liquidity, tax efficiency, and even legacy planning. Get ready to look at your financial strategy in a whole new way.

Timeline Summary

[0:00] - Introduction

[2:13] - The surprising benefits of using whole life insurance as your personal bank

[4:11] - Why life insurance and real estate investing go hand in hand

[5:07] - The real reason this strategy isn’t widely taught—and who’s keeping it under wraps

[9:23] - How Mark used his own policy to buy a car and save $8,000 in interest

[13:02] - A tax-saving strategy to offset rental income using whole life cash value

[15:27] - Tired of tenants? Mark explains how annuities provide guaranteed passive income

[22:36] - How to use a 1035 exchange to convert life insurance into lifetime income

[26:38] - What to do with a windfall: life insurance vs. annuities

[29:16] - Why Profit First and Bank On Yourself make the perfect wealth-building combo

5 Key Takeaways

1. Whole life insurance isn’t just for death benefits—it’s a powerful financial tool that grows tax-free and can be used to fund real estate investments.
2. You can borrow against your policy while it continues to earn interest, giving you financial leverage without sacrificing compound growth.
3. This strategy is often ignored by traditional advisors because of conflicts of interest with Wall Street-driven products.
4. A 1035 exchange allows you to move funds from life insurance to an annuity, creating permanent, tax-free income in retirement.
5. Pairing Profit First with Bank On Yourself gives business owners and investors a high-control, high-impact way to manage cash and build wealth.

Links & Resources

• Book a strategy call with Mark: KickstartWithMark.com
• Learn more about Profit First for REI: SimpleCFO.com

If this episode helped shift your thinking or opened your eyes to new possibilities, don’t forget to rate, follow, and leave a review. And of course, share this episode with another investor who needs to hear it!

In this episode, I’m joined by Michael Bartolomei of Launch Control to talk about why texting isn’t just a marketing tactic—it’s a foundational part of a scalable business strategy. If you’ve been treating SMS as a one-off tool or cutting it when money gets tight, you’re missing out on one of the most powerful ways to create consistent deal flow in real estate investing.

Michael brings deep insight from working with investors at every level—from solo operators to large teams—and he shares what separates those who scale from those who stall. We dive into the systems, mindset shifts, and tactical frameworks that will help you stop chasing leads and start building a real engine for growth.

Episode Timeline

[0:00] – Introduction

[1:13] – Why SMS marketing needs to be treated as a foundational business tool

[2:04] – Michael’s journey from boutique hotel owner to marketing leader at Launch Control

[4:15] – Why most entrepreneurs need to stop doing everything themselves

[6:07] – What Launch Control actually does and why it’s more than just sending messages

[7:08] – The importance of engagement coaching for text-based marketing

[9:28] – Onboarding vs. optimization: how Launch Control supports users long-term

[11:30] – Big mistake #1: expecting results too fast without a 90-day ramp

[15:25] – Big mistake #2: cutting marketing first when finances get tight

[17:15] – What the most successful investors do differently in marketing and scaling

[20:13] – Why consistent systems (not chaos) are the key to predictable profits

[22:17] – Deconstructing a large-scale business into scalable buckets

[25:40] – How to get started with Launch Control (and what to expect from their team)

5 Key Takeaways

1. SMS should be a long-term growth pillar, not a quick-fix lead gen tactic.
2. You can’t scale if you’re still wearing every hat. Know when to outsource.
3. Success comes from systems that allow you to plug and play—not start over.
4. Avoid cutting marketing during hard times—it’s your business lifeline.
5. Consistency in messaging and process beats high-intensity sprints every time.

Links & Resources

• Launch Control: launchcontrol.us
• Book mentioned: Profit First for Real Estate Investing by David Richter
• Need help with financial clarity? Visit www.simplecfo.com

If you’re ready to stop burning cash on inconsistent lead flow and start building a marketing machine that fuels your real estate business, this episode is a must-listen. If you enjoyed it, don’t forget to rate, follow, and leave a review so we can keep helping more investors put Profit First!

In this powerful episode, I sit down again with the legendary Sharon Lechter—author of Rich Dad Poor Dad, Outwitting the Devil, and Exit Rich—to explore how entrepreneurs can shift their mindset, take control of their finances, and build lasting wealth even in uncertain times. We go deep into how to mentor your kids on money, why foundational business systems matter more than flashy marketing, and how to shift from owning a job to owning real assets.

Whether you’re worried about market instability, struggling to scale your business, or just looking for clarity and focus, this conversation is packed with actionable steps to turn fear into momentum. Sharon shares timeless wisdom, personal stories, and tangible resources that can help you thrive financially and personally.

Episode Timeline

[0:00] – Introduction

[1:21] – Sharon’s early lessons in financial literacy and the moment that changed her mission

[2:30] – Why teaching kids about money starts with conversation, not curriculum

[4:45] – The difference between mentoring and enabling your children financially

[7:00] – Sharon’s tools for youth: ThriveTime and the Business Kit

[8:30] – ATM: Abundance Tips and Mentorship and why mindset matters daily

[11:05] – Advice for entrepreneurs facing fear, uncertainty, and paralysis

[13:15] – Her new course: “Investing in Uncertain Times” and how to take your next right step

[17:01] – How Exit Rich helps owners move from chaos to scale-ready systems

[19:21] – Scaling the right way vs. scaling yourself into the ground

[21:00] – Are you owning a job or building a business? How to tell the difference

[24:46] – Why assets are the true key to financial freedom (and Sharon’s favorite word!)

[26:16] – Inside Sharon’s immersive mastermind retreat at her Arizona ranch

[28:49] – Where to start on your financial literacy journey (no matter your level)

5 Key Takeaways

1. Fear either paralyzes or motivates—choose to turn it into focus, fuel, and faith.
2. If your business relies on you, you own a job—not an asset. Build systems, not just sales.
3. Start teaching kids about money by involving them in everyday conversations and decisions.
4. Financial literacy begins with mindset. Control your thoughts, words, and actions.
5. You can scale successfully—but only with a solid business foundation, not just hustle.

Links & Resources

• Sharon’s Website: www.sharonlechter.com
• ATM (Abundance Tips & Mentorship): atm.sharonlechter.com
• Exit Rich, Outwitting the Devil, How Money Works for Women – available on her site
• Sharon’s Business Retreat: Email [email protected] for details
• Courses & Financial Literacy Tools: Available under “Financial Products” on her site
• Need help keeping your profit? Visit www.simplecfo.com

If this episode sparked a shift in your mindset or business, don’t forget to rate, follow, and share the podcast. Leave a review and help more people discover the power of Profit First thinking!

In this episode, I sit down with Jordan Fleming the co-founder of smrtPhone and author of Click Call Scale, to talk about the one tool most investors overlook when trying to grow their business: the phone system. We dive into how deep CRM integration, intentional data use, and AI-driven sales tools are transforming the way real estate investors manage teams, follow up with leads, and stay compliant.

If you've ever thrown money at leads and wondered why your close rate is still weak, Jordan’s insights are the wake-up call you need. From avoiding six-figure fines to converting more sellers through thoughtful follow-up, this episode is packed with actionable strategies that will change how you view your phone—and your business.

Episode Timeline:

[0:00] – The origin of smrtPhone and how it grew from Podio users to REI giants
[5:20] – Why deep CRM integrations beat generic phone systems every time
[7:10] – What most investors get wrong about calling and follow-up
[10:00] – The power of full communication history in closing more deals
[12:15] – AI call scoring and training: a game changer for growing sales teams
[14:30] – The gold is in the follow-up—how automation unlocks deal flow
[16:55] – Click Call Scale: Jordan’s new book and why data hygiene matters
[19:45] – How sloppy calling habits can get you fined (or blacklisted)
[24:00] – Legal risks vs. carrier risks—why compliance is both a law and a behavior issue
[26:10] – Free book offer and extra gifts for investors ready to scale right

5 Key Takeaways

1. Your phone system is not just a tool—it’s the foundation of your sales engine.
2. Clean, structured data is the #1 factor in avoiding lost leads and legal trouble.
3. AI tools like call scoring are essential for training and scaling your team effectively.
4. The fortune is in the follow-up—but only if you systematize it.
5. Compliance isn't optional. Sloppy calling behavior can cost you five figures—or more.

Links & Resources

• Learn more about smrtPhone: www.smrtphone.io
• Need help keeping the money you make? Visit: www.simplecfo.com

If this episode gave you a lightbulb moment, don’t forget to rate, follow, and share the podcast. And leave a review to help more real estate investors discover the Profit First for REI show!

In this episode, I sit down with Gino Barbaro—multifamily investor, author, educator, and co-founder of Jake & Gino. We dive deep into the mindset, systems, and financial foundations that helped him scale from a pizza shop owner to a real estate mogul managing over 2,000 units.

Gino shares the critical role that Profit First played in helping him gain control over his personal and business finances—and why so many investors fail not from lack of opportunity, but from lack of clarity and discipline. This episode is a masterclass in building a long-term, values-driven real estate business that actually creates wealth and freedom.

Episode Timeline

[0:00] – Introduction

[1:25] – From family business burnout to discovering multifamily real estate

[3:45] – Scaling with partnerships: how Jake & Gino built a vertically integrated company

[6:12] – Why multifamily is more forgiving than single-family investing

[9:00] – Using Profit First to remove emotion from business decisions

[10:40] – You can’t outsource what you don’t understand—why financial literacy is step one

[12:20] – The “3 pillars” of real estate success: buy right, manage right, finance right

[15:15] – Teaching your kids about money, wealth, and entrepreneurship

[17:50] – The one mindset shift that separates successful investors from burned-out ones

[20:30] – Why “purpose over profit” actually leads to more sustainable business growth

[23:05] – How Gino uses Profit First in both personal and business budgets

[26:00] – Where to start if you feel overwhelmed by your numbers

5 Key Takeaways

1. Clarity comes before scaling. Without control over your finances, more doors just means more chaos.
2. Profit First works because it’s simple. Gino uses it personally and professionally to stay focused and disciplined.
3. Vertical integration creates true freedom. Jake & Gino scaled by controlling management, education, and investing under one roof.
4. Teach wealth early. Gino involves his six kids in financial education—because legacy starts at home.
5. Mindset is the multiplier. If you don’t believe you’re worthy of wealth, no strategy will save you.

Links & Resources

• Connect with Gino: JakeandGino.com
• Gino’s book: The Honeybee
• Learn Profit First for real estate: SimpleCFO.com

If this episode gave you clarity or motivation, be sure to rate, follow, and leave a review. Share it with a fellow investor who’s ready to grow with purpose and profit.

What happens when your business loses over half a million dollars—and it’s your own fault? In this episode, I’m joined by my good friend and client Caleb Luketic, who shares how he climbed out of a $550K loss through strategy, grit, and knowing his numbers. We dive deep into the raw, behind-the-scenes reality of being on the brink—and how clarity, accountability, and CFO support helped him rebuild a thriving business in just 18 months.

Caleb doesn’t just talk about the comeback. He reveals the specific shifts in strategy that saved his business—like choosing assignments over flips, getting creative with owner financing, and radically narrowing his marketing focus to only what worked. If you’re in real estate and feeling overwhelmed, this episode will show you it’s not just possible to turn things around—it’s profitable.

Episode Timeline

[0:00] – Introduction

[2:05] – Caleb’s background in marketing and how it evolved into real estate investing

[5:50] – How poor decisions and bad hires led to $550K in losses

[8:30] – Facing the choice: bankruptcy or bounce back

[10:20] – The 18-month payoff plan and how data made all the difference

[12:00] – Why gut decisions nearly sank the business—and what saved it instead

[14:10] – Flipping vs. wholesaling: how choosing cash now won the long game

[16:00] – The $80K wholesale assignment that cleared the final debt

[18:15] – New challenges: when the market shifts mid-flip

[22:40] – Why Caleb is moving away from flips to owner financing and wholesale

[24:00] – The emotional difference between retail buyers and owner-financed buyers

[28:00] – Caleb’s marketing agency focus: SEO, PPC, and Meta ads

[30:20] – Real ROI breakdowns for marketing channels

[32:00] – Why you need someone to help you pivot—before it’s too late

5 Key Takeaways

1. Losing money isn’t the end—lack of strategy is. Caleb turned a $550K loss into a growth story by facing the numbers head-on.
2. Wholesaling brought the cash flow flipping couldn’t. Fast assignments became the engine for rebuilding his business.
3. Marketing without data is dangerous. Narrowing efforts to what worked (and ditching what didn’t) saved thousands.
4. You must pay off the emotional debt too. Caleb shares how personal shame nearly sidelined his comeback.
5. You don’t need more leads—you need more clarity. Profit First helped Caleb make smarter decisions and recover with purpose.

Links & Resources

• Connect with Caleb Luketic: www.calebluketic.com
• Learn more about Profit First implementation: www.simplecfo.com

If this episode inspired you, helped you, or made you rethink your strategy—don’t forget to rate, follow, and share the show. Your reviews help more real estate investors discover the Profit First for REI podcast. Let’s keep growing together!

In this episode, I chat with Chad Harris, a former missionary turned full-time real estate investor, who’s quietly mastered the art of building a rental portfolio without ever using traditional bank financing. Chad walks us through how he raised millions in private money—starting with zero savings and a $2K/month income—and why less interest is actually more attractive to lenders.

From structuring win-win deals to understanding what private lenders actually want, Chad breaks down his strategy with a calm, no-hype approach that cuts through the noise. If you’ve been scared to ask for money, or you’re stuck using your own cash, this episode will completely change how you think about raising capital.

[Timeline Summary]

[0:00] – Introduction

[1:01] – Why higher interest rates actually scare off private lenders

[2:06] – Chad’s journey from rural Kenya missionary to real estate investor

[3:33] – No savings, no job, no bank—but a vision that convinced others to fund him

[4:32] – Helping others become investors through lending

[6:12] – Where to find private lenders (hint: they’re everywhere)

[8:21] – Why 6–8% is a gift to most retirees and stock investors

[9:18] – The 3-part pitch Chad uses every time to start the private money conversation

[11:08] – 37+ places to find lenders (free resource)

[12:17] – Why Chad chose rentals over flips or wholesale

[14:10] – How he generated cash at acquisition and refinance without using banks

[17:03] – The turning point: when cash flow pressure finally eased up

[18:22] – The lender mindset shift: lower rates = lower risk = more money raised

[22:10] – The case for 10-year, interest-only loans

[25:05] – How to work with Chad or learn more from him directly

5 Key Takeaways

1. Higher interest ≠ more money. Lenders see high rates as high risk. Lowering rates actually increased Chad’s capital access.
2. Private money is everywhere. Most people don’t know they can be lenders—until you show them how.
3. Longer terms, less chaos. Chad now uses 10-year, interest-only loans to reduce stress and balloon headaches.
4. Start with your story. Use a simple “why, what, how” pitch to build interest and trust with new contacts.
5. You don’t need a bank. Chad built an 80-door portfolio using only private and seller financing—and teaches others how.

Links & Resources

• Free guide: 37+ Places to Find Private Lenders
• Learn more or work with Chad: TrueWealthInvestors.com
• Need financial clarity in your business? SimpleCFO.com

Enjoyed this episode? Don’t forget to follow, rate, and review the show—and share it with someone who thinks they need a bank to build wealth.