In this episode, I sit down with Alex Pardo, a self-storage magnate who transitioned from a thriving wholesaling and house-flipping career to building wealth through self-storage facilities. Alex shares his raw and honest story of realizing he’d built a stressful business that left him feeling stuck, and how he used Profit First principles to regain control of his finances and peace of mind — both in business and at home with his wife.

We unpack what it really takes to pivot into self-storage, why he believes it’s one of the most overlooked but recession-resistant assets available to investors, and how Profit First helped him save aggressively for big capital expenses. Alex also discusses who should consider investing in storage, what makes a deal profitable, and how adopting a disciplined money system strengthened his marriage and overall life satisfaction.

Timeline Summary:

[0:00] – Welcoming Alex and swapping Monopoly stories that reveal his competitive edge.

[1:59] – Alex’s first exposure to Profit First through Mike Michalowicz’s books and why it felt like a lightbulb moment.

[5:00] – How implementing Profit First let Alex save for a $100K+ CapEx budget, giving him confidence to move forward with major facility improvements.

[8:00] – How Alex and his wife adopted Profit First at home with dedicated accounts for vacations, Christmas, and giving — creating harmony in their marriage.

[12:52] – What led Alex to ask himself the crucial question that sparked his exit from the wholesaling rat race.

[14:35] – Why he calls scaling his wholesaling business “irresponsible growth” and how his experience taught him to value peace over profit.

[16:02] – His initial fears about moving into self-storage, and the surprising ways his wholesaling skills carried over perfectly.

[18:18] – A look back at whether he regrets leaving wholesaling given the hot post-Covid market, and why he doesn’t.

[21:04] – The powerful “play the movie forward” exercise Alex uses to make big decisions with intention.

[23:06] – His success story of acquiring, stabilizing, and selling a 638-unit storage portfolio — and why he only needed 1-3 good deals per year to move the needle.

[25:23] – Why self-storage can be semi-passive after stabilization, and how Alex spends just 1-2 hours a week managing hundreds of units.

[27:04] – Breaking down the three phases of acquiring a storage facility: marketing and analysis, financing and due diligence, and maximizing operations.

[29:03] – Why self-storage is recession-resistant: the unique psychology of people downsizing but unwilling to part with their stuff.

[32:05] – The differences in operating expense ratios between storage (30-40%) and multifamily (45-55%) — and why this margin creates more breathing room.

Key Takeaways:

1. Asking yourself tough questions — like whether you’d want to be doing the same thing a year from now — can change your entire trajectory.
2. Profit First isn’t just for business; applying its principles at home can bring couples closer and build long-term stability.
3. Your existing real estate skills may translate seamlessly into self-storage — don’t underestimate how much you already know.
4. Location and demographics are critical; a rough market can mean higher break-ins and delinquencies, even in storage.
5. Storage can provide high cash flow with lower management demands than single-family or multifamily rentals — making it ideal for those seeking freedom.

Links & Resources

• Learn more about self-storage investing and get free training from Alex at https://storagewins.com
• If you want to keep more of what you make with Profit First, visit https://simplecfo.com

What if you could stop chasing deals and start collecting payments like a bank? In this eye-opening episode, I sit down with Patrick Franz, founder of Note Investor University, to explore the power and potential of note investing—an often-overlooked strategy that’s changing the game for savvy real estate investors. Patrick pulls back the curtain on how owning mortgage notes can create more security, scalability, and true passive income than traditional rentals or flips.

Whether you’re tired of toilets, tenants, and turnover or just looking for smarter ways to grow your portfolio, this episode is packed with insight. We talk about the difference between owning real estate and owning the paper behind it, how to find and evaluate notes, and how you can leverage private capital to build a cash-flowing note portfolio—even if you’re brand new to the space.

Timeline Summary

[1:18] - Patrick Franz explains what note investing is and why most real estate investors haven’t explored it

[2:56] - Key differences between real estate investing and buying promissory notes

[5:03] - A side-by-side comparison of the landlord model versus the lender model

[10:06] - How buying notes at a discount creates instant equity and above-market returns

[13:51] - Understanding the secondary mortgage market and how to legally step into the bank’s shoes

[17:08] - Where to find notes and why sourcing them isn’t the hardest part

[20:03] - Why notes are safer and easier to pitch to private lenders than rental properties

[22:21] - The magic of amortization and why it benefits note holders over time

[24:28] - How third-party servicers manage the process and make it truly passive

[27:12] - How to work with Patrick and what Note Investor University offers

[29:35] - Real success stories and what’s possible within just 12 months of learning and applying note investing strategies

Key Takeaways

1.You don’t have to own the property to profit from real estate – owning the debt can be even more powerful.

2.Note investing offers instant equity and stable, predictable cash flow, often with double-digit returns.

3.Notes are easier to pitch to private lenders because they are safer, backed by real estate, and not subject to market fluctuations.

4.You can scale your portfolio using OPM (other people’s money) once you master the process and build your expertise.

5.Financial freedom is achievable within 36 months with the right note investing strategy and education.

Links & Resources

•Schedule a call with Patrick: calendly.com/thenotementor

•Learn more about Simple CFO: https://simplecfo.com 

•Contact David Richter and Simple CFO: https://rei.simplecfo.com/scheduleacall

•More about David Richter: https://join.simplecfo.com/david

•Want David on your podcast? Contact us at: john@simplecfo.com 

•Browse notes: paperstac.com

•Financial clarity and coaching: simplecfo.com

If this episode opened your eyes to a smarter, more secure way to invest in real estate, follow, rate, and review the Profit First for ROI podcast. And don’t forget to share it with a friend who needs to hear this. Let’s help more investors make profit a habit in their business.

"Our favorite way to buy real estate is to learn how to buy rentals without banks, without using your credit, and this is the strategy we've been using now for eight years."

In this episode of Profit First for REI podcast, we interviewed Joe and Jenn Delle Fave on the show. Joe and Jenn are real estate investors, coaches, and the duo behind the Creative Finance Playbook—a YouTube channel where they share the wonders of non-traditional financing for real estate.

Listen as they share their experiences with Profit First and what it feels like working with a CFO. They also talked about learning to buy rentals without banks and credit cards, how to get leads, and more! Enjoy the show!

Key Takeaways:

[01:05] Introducing Joe and Jenn Delle Fave
[03:21] Jenn's experience with Profit First
[05:26] Surprising things working with a CFO
[12:19] Learn how to buy rentals without banks
[18:16] How does marriage help them on the financial side of things?
[22:20] How do I get leads?
[25:35] Connect with Joe and Jenn Delle Fave

Quotes:

[03:48] "A CFO is for anyone looking to get their financials in order, and take that stress off of you as an entrepreneur because there are a lot of other things you can be doing, and should be doing with your time."

[14:19] "The key [in real estate] is to have a strategy that isn't depending on the rates of banks and things like that..." 

[22:31] "This was probably my biggest challenge, and I've noticed this is a lot of folks' biggest challenge: How do I get leads?... We've found a free method. It costs zero dollars to do... by using Facebook groups."

Connect with Joe and Jenn:

Website: https://creativefinanceplaybook.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 with David Richter, he interviewed Tiffany Milttal. She is a seasoned multifamily real estate expert with over 13 years of hands-on experience. 

Tiffany is the founder and CEO of Utility Ranger. Utility Ranger is a revolutionary tenant utility billing software company founded in 2020.

Today, David and Tiffany talked about her real estate journey, the mechanism of the Ratio Utility Billing System, and how she founded her company, Utility Ranger. Enjoy the show!

Key Takeaways:

[00:44] Introducing Tiffany Milttal
[02:12] Her real estate journey
[04:41] RUBS
[08:01] Switching to the Property Technology side
[10:06] Utility Ranger
[20:19] Property Conservation and Property Appreciation
[24:49] Connect with Tiffany Milttal
[25:42] Lesson learned from her real estate journey

Quotes:

[03:53] "When you have third-party management, you need what you need to know. You know how to asset managed versus property managed."
[06:28] "Utility Billing Service Companies, they are companies that take all these master metered utility bills and rebuild them out to your tenants with a mechanism called RUBS."
[10:06] "How can I take this service model and turn it into a software model? This is how our company Utility Ranger was born."

Connect with Tiffany:

Website: https://utilityranger.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 interviewed Josh Chapman. He has been a real estate investor, entrepreneur, and engineer for ten years.

While learning about real estate, he read Profit First and implemented the system immediately. Having the cash flow issues, he wanted to keep his finances organized. 

Listen as he shares how Profit First helped him in his real estate investing journey. Enjoy the show!

Key Takeaways:

[01:13] Introducing Josh Chapman
[01:40] His Profit First Journey
[02:51] Cash flow issues
[07:31] Types of real estate he gets into
[10:08] Scaling up properties
[12:57] Life without Profit First
[16:36] Small Town Investment
[17:54] Connect with Josh Chapman

Quotes:

[03:43] "I knew I had to find a system to help keep things organized and not run into cash flow issues as I started other businesses."
[08:26] "Fast forward about six months, I am operating five Airbnb's. I realize there is some great money to be made doing this, but instead of renting properties, I started exploring what it looks like for me to buy properties."
[17:46] "Keep their eyes open. Don't feel like you have to be in the big market. You can do well in small markets."

Connect with Josh:

Email: josh@smalltowninvesting.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 interviewed Matt Theriault.

Matt has been a real estate investor for a long time and a big Profit First fan. He shared advice for people on escaping the rat race and how did he stay out of inflation.

He also shared a great insight about real estate, how it allows us to deal with money, and what it produces. Listen and enjoy the show!

Key Takeaways:

[01:07] Introducing Matt Theriault
[02:28] Following the traditional route
[05:47] Rich Dad, Poor Dad introduced passive income to Matt
[10:26] Micro trading
[15:12] Compounding asset
[20:35] A homeowner who owns one house is 40 times wealthier than the renter
[22:05] Matt's book
[23:10] Connect with Matt
[25:53] His advice for real estate investors

Quotes:

[06:39] "Kiyosaki's definition of wealthy is just having more money come in each month than you spend."
[11:38] "You need to be careful on what you hold so dear to your heart and what you believe to be absolute facts... the system will always win."
[19:34[ "You know what? It may be a bad investment, but if that is your only way to get in, get in with your primary residence."

Connect with Matt:

Website: https://epicrealestate.com/
His Book: https://myescapebook.com/freedom-formula 

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

There are 15 reasons to love about borrowing private money over traditional money. One of them is making your own rules for your private money.

In this episode of Profit First for REI podcast, Jay Conner, a nationally renowned real estate investor and the king of private money. He talks about how private money works.

Jay helps you get your money from private lenders and will share with you the mindset that will get you money in the door without you ever having to worry about it. 

Listen and enjoy the show!

Key Takeaways:

[01:01] Introducing Jay Conner
[05:00] Introduction to private money
[08:30] The Great News Phone Call
[11:23] Why don't you use your own money?
[13:18] Maintaining relationships with private lenders
[15:40] Private money vs traditional money
[22:05] Things that make them want to recommend you
[25:18] Advice for real estate investors
[29:01] Connect with Jay Conner

Quotes:

[07:34] "If you are talking about private money and raising private money with an individual and you got a deal for them to fund, you already sounded desperate."
[12:07] "If you want to scale your business, private money is the way to go."
[16:05] "In this world of private money, we make the rules. We set the interest rate, we sent the length and all of that."

Connect with Jay:

Website: https://www.jayconner.com/book-details/

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 must not just be successful financially but become a thriver in life."

In this episode of Profit First for REI podcast, we interviewed Greg Slaughter. He is a real estate investor with a massive portfolio, especially in residential real estate.

Greg talks about his real estate investing journey, through emotional ups and downs. He also shared how he lost everything back in 2008 and how he recovered and went to the best time of his life.

He will ensure that you will be a great business owner and that your business will serve you. Enjoy the show!

Key Takeaways:

[00:49] Introducing Greg Slaughter
[02:01] How he got into real estate
[06:51] His W2 job
[08:30] His first rental property
[12:40] First year being full-time in real estate
[20:54] Business must serve you
[23:07] Helping people financially
[29:10] The right way to do a business
[30:21] Connect with Greg Slaughter

Quotes:

[07:47] "I was trained in the systems. Everything I do is a system, and what I do today is based on systems."
[20:52] "Business is supposed to be serving you. You are not supposed to be serving your business."
[29:10] "The concept isn't to grow business. The concept is to create a business around your lifestyle to provide the finances you desire. It should be built around you."

Connect with Greg:

Website: https://www.gregslaughter.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 are sitting down with Jennifer Steward of REI Data Source, to unveil the secret weapon you've been missing: authenticity. 

Jen will crack the code on how to project a winning image that seals the deal…But wait, there's more! Learn the top revenue activities every entrepreneur should master and discover the power of consistent strategies to solve your REI problems.

This episode is your blueprint to a thriving virtual business. Don't miss out!

Key Takeaways:

[0:50] Introducing Jennifer Steward
[6:07] Project an image of success from time to time
[9:16] Some best revenue activities that every entrepreneur should know
[11:00] Leveraging every avenue that you can, get consistency, and make sure you’re solving current problems
[17:43] The golden ratio in social media marketing is: 90% business and 10% personal
[25:02] The benefits of running a virtual business

Quotes:

[4:20] “Authenticity is like a business repellant.”
[10:09]  “In a market where you can’t dind deals but there’s plenty of money, you have to be the person who knows how to find the deals.” 

Connect with Jennifer:

REI Data Source Website: https://www.reidatasource.net
Jen’s Email: jen@reidatasource.net
Phone Number: (469) 952-8011

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 Amanda Webster. She is a business funding educator, credit expert, leadership consultant, and speaker. She is also the Chief Operating Officer of Fund&Grow.

Amanda talks about her relationship with her CEO, things about purchasing properties or building your business credit and making sure that you are not just always spending your own money. This episode is for you! Enjoy the show!

Key Takeaways:

[00:56] Introducing Amanda Webster
[02:41] How she started working with Fund&Grow
[04:32] Law of attraction
[09:03] What makes a successful COO-CEO relationship
[12:38] About Fund&Grow
[18:12] Personal guarantees
[21:00] The lines of credit
[28:00] The advantage of using credit cards
[30:36] Connect with Amanda Webster

Quotes:

[05:29] "Leadership is what dictates the success of the company and its employees."
[19:04] "A lot of people don't realize the importance of separating business and personal business and how much over-extending your personal hurts you in so many ways."
[28:06] "There is an extreme amount of value in using business credit cards because there are points, rewards, and cashback."

Connect with Amanda:

Website: https://funding.fundandgrow.com/simple-cfo 

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 the Profit First for REI podcast, we have Shauna, the Tax Goddess. Shauna is a highly sought-after Tax Strategist who helps successful business owners, entrepreneurs, and high-wage earners reduce their tax burden.

If you need practical advice on keeping more money in your pocket and not paying too much tax, Shauna has a wealth of knowledge! 

In this episode, she shares ways to save money on taxes and more ways to increase your profitability. Enjoy the show!

Key Takeaways:

[00:55] Introducing Shauna the Tax Goddess
[01:45] 'The Tax Goddess'
[03:18] How did she become a tax strategist?
[07:25] Ordinary, necessary, reasonable
[12:28] Different tax strategies
[17:29] What is your aggression scale?
[19:51] Specific tips for real estate investors
[25:45] Performance vs Culture
[28:40] Connect with Shauna, The Tax Goddess

Quotes:

[10:49] "A lot of what you do as a business owner, you need to run through this filter of ordinary, necessary, and reasonable to determine if for you and what you are doing, you believe that you need those three."
[16:24] "Which strategy will be the best depends on what you as a taxpayer want for you, your family, and your wife."
[18:09] "Your aggression scale will determine which strategies you can use or don't use."

Connect with Shauna:

Website: https://taxgoddess.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

Know other people's stories. It is Scot Poirier's striking advice for investors on their first deal.

In this episode of the Profit First for REI podcast, Scot, a successful real estate investor and coach, gives you practical advice on investing in real estate and how to get a seller to open up.

He also shares his story of his first deal and the challenges he overcame in his journey. Listen to have the right motivation and hope to pursue your real estate investing journey. Enjoy the show!

Key Takeaways:

[00:39] Introducing Scot Poirier
[02:55] Life before real estate investing
[06:17] His very first deal
[09:57] After repair value
[10:49] The wake-up call
[16:51] Learning about people
[25:28] How can you make people open up to you?
[30:22] Remove 'permission language'
[33:10] Connect with Scot Poirier

Quotes:

[05:13] "People are people. They have crises, and they need to have a sense of trust to work with you."
[10:51] "When you don't know that you don't know, you might get lucky on a deal, but when the other shoot drops, it hurts."
[29:12] "Don't give up. Surround yourself with good people. People that have your interest in mind."

Connect with Scot:

Website: https://www.facebook.com/scot.poirier

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

Joining us in this episode of Profit First for REI podcast is Chris Johnsen. He is a lawyer in the real estate space and worked primarily for commercial real estate.

In this episode, Chris talks about the common pitfalls people go through in real estate and when you need a lawyer in your business.

Listen as he explains why you should hire a lawyer for your business contracts. Enjoy the show!

Key Takeaways:

[01:03] Introducing Chris Johnsen
[04:34] Getting into a specific niche as a lawyer
[09:03] Education as an investment
[14:52] The Golden Handcuffs
[17:21] Most common questions he gets as a lawyer
[23:20] Operating Agreement
[26:48] At what point should people get a lawyer?
[30:47] Connect with Chris Johnsen

Quotes:

[02:43] "I saw two things in lawyers. I saw that they provide value that is needed and are expensive."
[09:03] "You should look at your education as an investment in yourself."
[23:20] "Operating agreement is a contract between the company's owners on how to run the company... there are so many pitfalls."

Connect with Chris:

Website: https://www.johnsenlaw.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'm okay with sacrificing now for a greater future." 

In this episode of the Profit First for REI podcast, we have Martine Richardson. She has been a real estate investor for about ten years, from being a full-time employee with no money and no time freedom.

Martine shares practical steps on getting out of the rat race and her experiences on her real estate journey. Listen and enjoy the show!

Key Takeaways:

[00:50] Introducing Martine Richardson
[02:40] Before entering the real estate space
[07:10] Sandwich lease option
[11:31] Buy and hold
[14:04] The Power of Holding
[15:55] Two ways to know how much money you need per month to live comfortably
[19:34] Mid-term rentals
[28:14] Martine's advice for real estate investors
[30:45] Connect with Martine Richardson

Quotes:

[07:13] "Sandwich lease option agreement, when you are leasing a property and you have the option to purchase it in the future."
[13:49] "I've always been like a long-term thinker. I'm okay with sacrificing now for a greater future. Me holding made complete sense to me."
[28:23] "Many people are stuck in the analysis-paralysis stage because they want to know everything about how to do something... I would encourage people to learn the first step and take action on that first step. Learn the second step and take action on the second step."

Connect with Martine:

Website: https://www.facebook.com/groups/thefreedominc

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

Profit First helped a lot of investors. One of them is Trey Nixon, our guest for today's episode. 

Trey is a real estate investor, business owner, and successful entrepreneur. He implemented Profit First in his business and became successful in real estate.

In this episode, he will share how Profit First transformed his life. He will give you hope about this method and how it works. Enjoy the show!

Key Takeaways:

[00:57] Introducing Trey Nixon
[02:18] Life Before Profit First
[06:10] Marathon vs Sprint Mindset
[11:51] From employee mindset to thinking like a business owner
[20:19] Goal of helping other people
[25:14] The importance of systems
[27:16] Connect with Trey Nixon

Quotes:

[06:44] "There are two numbers that every investor needs to know. First, what do I need to run this business, and then what do I want?"
[11:05] "It took us a couple of years to get from employee mindset to understanding what Rich Dad wanted us to do... We were successful but living paycheck to paycheck."[13:14] "Be yourself. Be strategic. Organize and deploy your money, time, and energy strategically."

Connect with Trey:

Website: https://www.skool.com/@treynixonofficial

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 Profit First for REI podcast episode, we feature The Investor Couple Mel and Dave! Today, we have Dave as our guest, and he shares incredible things about real estate investing.

Dave Dupuis of the Investor Mel & Dave are innovative real estate investors and award-winning mentors who have acquired over 240 apartments in just a few short years in Canada, the US, Mexico, and Costa Rica. He will tell about his real estate investing journey, how they creatively buy a deal and some of the things that make them unique in the real estate space.

Enjoy the show!

Key Takeaways:

[00:58] Introducing Mel and Dave
[02:12] What is it like working with your spouse?
[05:01] Getting into real estate
[07:47] Buying Mel and Dave's first property
[15:33] Paying back with interest first
[21:55] The coaching structure
[24:42] Get a coach and keep books up to date
[26:24] Dave's advice for real estate investors
[26:37] Connect with Mel and Dave

Quotes:

[05:53] "One of the biggest breakthroughs that they have with people is fear. Getting over that fear."
[15:26] "The most important thing is I am looking at my time versus effort... and how much money I can make. Most importantly, because I'm using other people's money, paying them back with interest first."
[25:33] "Get a coach and make sure your books are up to date from Day 1."

Connect with Mel and Dave:

Website: https://investormeldave.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 Profit First for REI podcast episode, we have Aaron Letzeiser. He is the co-founder and Chief Operating Officer of Obie, an insurance brokerage designed for the unique risks of homeowners and investors.

Aaron gives you practical steps and things to do to lower your insurance rates and more about insurance in this episode, but he will surely make this boring topic more exciting. Enjoy the show!

Key Takeaways:

[01:04] Introducing Aaron Letzeiser
[06:13] Insurance black holes
[08:15] How Obie helps people
[12:30] Maintaining competitive insurance rates
[16:17] The claims process
[23:48] Actual cash value vs replacement cost
[30:01] Aaron's advice for real estate investors
[31:10] Connect with Aaron Letzeiser

Quotes:

[10:30] "Speed and transparency, and more of a consultative approach to what you are buying or paying for, that's the difference with Obie."
[15:27] "Find an agent that knows and understands the real estate investment space."
[24:36] "Go check out how much property coverage you have."

Connect with Aaron:

Website: https://www.obieinsurance.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

To start your real estate journey, get a good financial team who are experts in real estate. That is Joe Viery's advice in this episode of Profit First for REI podcast.

Joe is a cost segregation professional (CSP) and the CEO of US Tax Advisors Group. He has helped property owners keep a lot of money in their pockets by eliminating millions of dollars in income taxes. 

In this episode, he talks about cost segregation, a strategy you must know when you want to buy an old property. More of this topic, listen and enjoy the show!

Key Takeaways:

[00:51] Introducing Joe Viery
[06:11] Accelerated depreciation
[09:46] Redo cost segregation in the same building
[12:44] Depreciation recapture
[20:54] Joe's advice for business owners

Quotes:

[06:11] "As long as you are a US-based paying taxes entity, whether it's a married couple or corporation, you can use accelerated depreciation."
[10:47] "We like to see the building before any improvements are done because one caveat... a lot of accountants do not know the world of dispositions."
[15:19] "Cost segregation reduces depreciation recapture."

Connect with Joe:

Website: https://ustagi.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 interviewed Maura McGraw. She is a marine veteran, a mother, and an active real estate investor.

Being a marine veteran, she talks about what she learned in the military and how it helped her in real estate investing. She also shares her Profit First journey from where she came from.

You will learn a lot of practical advice in this episode, so listen and enjoy the show!

Key Takeaways:

[01:03] Introducing Maura McGraw
[03:13] What she learned in the military that helped in her real estate investing journey
[08:22] Why real estate?
[11:49] Life Before Profit First
[17:13] Managing multiple types of business
[22:44] Financial benefits of paying yourself first
[27:26] Biggest benefit of EOS and Profit First
[32:12] Connect with Maura McGraw

Quotes:

[04:15] "There is no option except for mission accomplishment and that translates to, you can never give up."[17:48] "It's easy to lose sight of paying yourself as an owner."
[28:22] "Having a financial system, that is like the lifeblood of your business. That is what's keeping everything going and the scorecard of whether you are succeeding or not."

Connect with Maura:

Website: https://www.duratusacademy.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

"Even if you are still working a day job, you can still do this on the side and should do this on the side until you have a pipeline."

In this episode of Profit First for REI podcast, we interviewed David Randolph. He is a real estate investor best known for his highly profitable success in the Short Sales arena. 

He has one of the best systems that gets people real results. Now, he wants to share it with you! 

Listen as you will learn great lessons: ways of buying properties, getting into real estate, and how to do short-sale deals. Enjoy the show!

Key Takeaways:

[00:46] Introducing David Randolph
[02:28] Focusing on short sales[
09:07] The pitfalls of short sales
[10:54] How long is the cash conversion cycle?
[16:10] The team size on short-sales
[20:12] Right way to run a business
[26:00] "I would've sought expert help in the education field earlier."
[27:12] Connect with David Randolph

Quotes:

[08:22] "You want to run a business? You want to make money? Short sales is one way to make a lot of money."
[13:48] "Anybody in the United States can negotiate a short sale with the bank. Anybody, with the exceptions of California and Florida..."
[21:19] "When you are making a lot of money, you don't need a lot of money to live off of. So why should you be making it and paying taxes? Why don't you do these deals in your retirement account vehicles?"

Connect with David:

Website: https://thedavidrandolph.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

"The biggest piece of advice I'd give people of what I learned from that is, nobody is going to manage your money but you."  

In this episode of Profit First for REI podcast, we have Bill Allen. He is a real estate investor and the owner of 7 Figure Flipping. He and his team currently flip and wholesale 200+ deals every year.

Bill shares his advice on how to become a better wholesaler and flipper. He talks about his journey in the real estate world, some of the biggest roadblocks he encountered, and his family program for teenagers. 

Enjoy the show!

Key Takeaways:

[00:46] Introducing Bill Allen and his background                                                     
[02:15] Getting into real estate
[04:30] Educating other people about real estate
[12:15] Tips on becoming a better real estate investor
[15:01] Why do most investors live deal to deal in their business?
[23:21] Talking about the roadblocks in business
[27:19] You have to be financially savvy
[32:24] What is Teenage Tycoon all about?
[41:48] Connect with Bill Allen

Quotes:

[10:02] "If you can figure out where you are weak, there are two options: You need to be higher up those weaknesses, or you can just dive in and strengthen them up."
[25:54] "The longer you sit on a problem like that, the more expensive it gets."
[27:19] "Nobody is going to manage your money but you. Nobody cares about it like you do."

Connect with Bill:

Website: https://www.7figureflipping.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

"Get profitable and pay yourself first."

If you want to become smarter financially and know where your money is going, we have a perfect guest! 

In this episode of Profit First for REI podcast, we have Chris Miles. Listen as he talks about the thought process of people around money. He also shares some tips on how you can pay yourself twice in your business and utilize passive income in your business to get the freedom you want. Enjoy the show!

Key Takeaways:

[00:45] Introducing Chris Miles
[02:35] The Ultra Penny Pincher
[06:20] Retiring at the age of 28
[08:12] Jumping into real estate investing
[11:19] Life Before Profit First
[13:32] Follow your gut
[16:32] Paying yourself twice
[26:45] Business as your number one investment
[27:42] His advice for real estate investors
[28:41] Connect with Chris Miles

Quotes:

[05:49] "You can make better cash flow and income with real estate even if you are on the passive side."
[13:32] "Follow your gut... If something doesn't feel right, don't go for it just because you can get a lot of money."
[28:08] "Just get to the point where your business is an actual business. They can operate even without you, and you can get enough passive income that you don't need it either; to me, that's the true definition of freedom."

Connect with Chris:

Website: https://moneyripples.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 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