David Richter is an active real estate investor who has been essential in closing over 850 deals which include wholesale, turnkey, BRRRR, owner finance, rentals, lease options, and any other exit strategy you can think of. He is the author of Profit Firs...
David Richter is an active real estate investor who has been essential in closing over 850 deals which include wholesale, turnkey, BRRRR, owner finance, rentals, lease options, and any other exit strategy you can think of. He is the author of Profit First for Real Estate Investing.
In this episode, David helps real estate investors transform their real estate investing business in how they view their finances and bring them true financial clarity and freedom.
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What you'll learn in just 17 minutes from today's episode:
"The biggest thing I see is that the mistake of avoiding finances. Really comes down to lack of control. That's where Profit First, I feel like how does that fix that not only helps you to focus on it, but it helps you focus on your finances from your perspective, from the entrepreneur, because we check our bank accounts. And Profit First is all about bank accounts. It's all about the practical steps, I should say." - David Richter
"It is all about that mindset shift from paying everyone else first besides yourself. That's why I like the practical steps because we hear it so often from so many different sources to pay yourself first. But then, until you start getting into that habit and seeing the tangible benefits of doing that, it's hard for that mindset to sink in. Unless you can totally see the goal line." - David Richter
"Many people, when they think they're savvy, and they can read the financial statements, and they can do this, in that there's a big difference between the financial statements like a profit and loss and the actual cash going in and out of the accounts, especially in the real estate investing world because we deal with loans." - David Richter
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