Profit First for Real Estate Investors with David Richter

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 Mauch

Quotes:

[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

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 Faircloth

Quotes:

[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

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 Dombeck

Quotes:

[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

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 Richards

Quotes:

[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

"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 Lemaster

Quotes:

[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

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 Wegert

Quotes:

[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

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 Mathis

Quotes:

[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

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 Pezon

Quotes:

[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

"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 McIntosh

Quotes:

[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

"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 Trang

Quotes:

[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