The Real Estate Investor’s Club brings you a podcast about all things Real Estate. We believe that knowledge is power, and that you can leverage intellectual capital for financial success.
Episodes
Wednesday Apr 12, 2023
Wednesday Apr 12, 2023
Business owners and Real Estate investors / operators share this problem. Very often, we work like crazy without seeing the financial fruits of our efforts.
David Richter, author of Profit First for Real Estate Investing and founder of SimpleCFO.com, has considered how to deal with this issue. In this episode, he breaks down the common mistakes many investors (and business owners) make in how they structure their finances.
David shares proven strategies and tips on how to break free from this cycle and finally begin to capitalize on the financial gains available through Real Estate investing.
We dive into the ‘Golden Trio’ of bank accounts, and how to optimize cash flow. Finally, we discuss the six fundamental accounts that every real estate investor should have in order to give themselves a fighting chance on the financial end of their business. David provides expert insights and advice on how to set up these accounts and how to leverage them to maximize your profits.
Join us for an engaging and informative conversation that will help you empower yourself as a real estate investor and create a life of abundance on your own terms.
Tune in now!
What we learned from David Richter and Terrie Schauer in this episode:
- Tired of being stuck in the endless cycle of the rat race? Learn how to break free and unlock the path to financial wealth.
- How to optimize your cash flow using the ‘Golden Trio’ of bank accounts.
- The six fundamental accounts for real estate investors to give yourself a fighting chance on the financial end of your business.
Success Quotes:
“Making sure that you as a real estate investor, know what you need to keep from the business and making sure it's your business.” -David Richter
“Clarity creates confidence, confidence creates better decisions, better decisions equals more money, top line, and bottom line.” -David Richter
Timestamp:
00:00 - Intro
01:01 - David talks about his real estate investing journey.
06:24 - David shares his top two tips on the things that you shouldn’t be doing as a real estate investor.
15:08 - As a real estate investor, is it good to run the business from one bank account? (... a look at the Golden Trio of bank accounts and the six fundamental accounts for real estate investors.)
26:30 - David talks about the lifestyle hits he took when he started his real estate investing journey.
31:44 - Ways to connect with David.
32:37 - Outro
Connect with David Richter here:
LinkedIn: https://www.linkedin.com/in/david-simple-cfo/
Website: https://simplecfosolutions.com/
Connect with Us:
Facebook Page: https://www.facebook.com/restateinvestorsclub/
Email: reic@clubimmobilier.ca
Terrie Schauer’s LinkedIn: https://www.linkedin.com/in/terrieschauer/
Terrie Schauer’s Instagram: https://www.instagram.com/terrieschauer/
Terrie Schauer’s “Mindful Landlord” book: https://mindfullandlord.com/
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