384: Profit First for Real Estate Investors with David Richter

Accredited Income Property Investment Specialist (AIPIS)

Profit First! That is the battle cry of Jason's guest in today's episode. David Richter is the author of the book Profit First for Real Estate Investing. Here he lays out the 'deceptively' simple plan to maximize your profits by 'paying yourself first' using the "Sales - Profit = Expenses" formula.

Key Takeaways:

[1:35] What is Profit First?

[2:44] What is the Envelope System?

[3:54] Types of Clients

[4:30] Why this Mission?

[6:44] The System

[9:50] The Most Famous Real Estate Investor on Earth

[11:10] Pay Yourself

[12:45] REI Transfer Rhythm

[14:16] Target Allocation Percentages

[17:34] Build & Keep Reserves

[21:55] The Collective with Ken McElroy

Website:

SimpleCFOsolutions.com

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