Manage episode 379344768 series 3462581
Real estate expert David Richter shares valuable insights on how to escape the profit desert and begin reaping the rewards of your hard work. Discover why most investors get stuck on the hamster wheel, doing deal after deal but still feeling financially strapped.
David outlines specific strategies to expand your margins, take charge of cash flow, and secure the income you merit. This rebel CFO shows you how to terminate unnecessary costs and fund the financial freedom you seek.
If you are ready to break free from the profit wasteland once and for all, be sure not to miss out on David's invaluable principles for building wealth and plugging financial leaks. The promised land is within reach - listen now to start your journey!
0:00 - Introduction
6:12 - David explains the profit first concept - taking profit off the top before paying expenses
10:15 - He set up 3 key "owner benefit" bank accounts: profit, owner's pay, owner's tax
15:10 - When to consider getting a part-time CFO for your business
20:40 - How David would advise on marketing budget as a CFO
25:48 - Managing cash flow with longer cycles in real estate
30:15 - Avoid cutting marketing spend when revenue dips
33:30 - What to do when your expenses equal 100% of revenue
40:00 - Typical net margins for wholesalers vs fix & flip companies
45:40 - Where to get David's book Profit First and cheat sheet
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