Profit First for Real Estate Investors with David Richter

In this episode of Profit First for REI podcast, we are joined by Dan Haberkost. He is a real estate investor focusing on new development, land investing, and consulting.

Dan talks about marketing and the fears he had about spending money on it. He also talks about incentivizing employees and the expectations he sets for them.

Listen and enjoy!

Key Takeaways:

[00:41] Introducing Dan Haberkost
[01:55] The Big Picture Blueprint
[02:34] How did you land on land?
[07:27] Land Investing
[09:59] Room by room rentals
[13:23] Why did Dan choose land investing?
[20:32] The fear of spending money
[26:07] How do you incentivize your employees?
[28:53] Dan's advice to real estate investors
[29:51] Connect with Dan Haberkost

Quotes:

[07:48] "Land is the means of making money. You can do it from anywhere."
[09:28] "I'd rather focus on the active income... and just buy nice real estate."
[28:55] "Get clear on your goals and pick the asset and the business that align."

Connect with Dan:

Website: https://danhaberkost.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

In this episode of Profit First for REI podcast, we have Frank Iglesias. He is a real estate investor who tells several deep things about his real estate journey.

Frank is well-versed in many areas of real estate. He talks about the right coach in his life that helped turn him around, the right timing, and books that helped him. Listen to this episode if you want to become a good business owner. Enjoy the show!

Key Takeaways:

[00:46] Introducing Frank Iglesias
[01:53] How he got into real estate
[05:10] "I wish I would have just picked one route."
[09:04] Sales and marketing in real estate investing
[13:20] Learning about new construction
[15:18] Difference between fix and flip and new construction
[19:49] The money side of new construction
[27:23] Fundamentals and People's Journey to Success
[30:04] Connect with Frank Iglesias

Quotes:

[06:25] "I wish I'd learned more about business because real estate is just the vehicle. It sits on top of this."
[08:35] "Most real estate courses don't teach business, they teach real estate. But it's a different world when you start looking at it as a vehicle."
[18:04] "What I like about new construction is you're creating something. I like the creation process."

Connect with Frank:

Website: https://frankiglesias.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

"I love verbs more than nouns when it comes to money. I don't care what you call my money."

For today's episode, we have Mark Willis. He is a certified financial planner and a real estate investor who works with people from 50 states and around the world to help them build real wealth outside of Wall Street.

In this episode, he talks about the more efficient way to manage your money and how to build wealth in ways that you can control and understand. Listen and enjoy the show!

Key Takeaways:

[00:44] Introducing Mark Willis
[05:45] Bank on Yourself
[07:47] Building up contractual wealth
[09:56] What is banking?
[11:55] T.G.I.F.
[15:38] Averages mean nothing
[20:57] Disgust in marketing
[23:51] Integrating the Bank on Yourself system into Profit First approach
[33:26] Connect with Mark Willis

Quotes:

[08:08] "Owning a property is the same as owning a policy in that they are both founded on the civilization technology known as the contract."
[09:52] "It is the most profitable enterprise in all of human history is banking."
[21:30] "It's impossible to convince someone of something when their salary is dependent on them not being convinced."

Connect with Mark:

Website: https://kickstartwithmark.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

In this episode of Profit First for REI podcast, we have Jason Lavander. He has been an entrepreneur since 2016, flipping houses, building a team, learning the process, and getting coaching and training.

He shares about his journey of Profit First and what he is then versus now. He also talks about the evolution of an investor.

Listen because it will help and give you hope in your real estate investing journey. Enjoy the show!

Key Takeaways:

[00:53] Introducing Jason Lavander
[03:12] The up and down cashflow rollercoaster
[06:34] The Walking Wounded
[07:55] What he does before real estate
[12:20] The time he started Profit First
[17:03] Finding the right person
[19:45] How to know if your business is healthy?
[26:46] Advice for people who want to implement Profit First
[29:22] Connect with Jason Lavander

Quotes:

[07:26] "The system works for you. It's your safeguard. It's your bumpers on the bowling alley. It's your safety net to protect you."
[17:03] "As an investor, much of what I've learned is to find the right person. Put the right person in the seat."
[26:50] "Ask yourself hard questions and give yourselves honest answers."

Connect with Jason:

Facebook: Jason Lavender

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

"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 Trost

Quotes:

[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

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 Sharma

Quotes:

[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

"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 Fettke

Quotes:

[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

"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 Pezon

Quotes:

[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

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 Jarrett

Quotes:

[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

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 Jeremy

Quotes:

[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