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Profit First for Real Estate Investors

Author: David Richter

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You’re a real estate investor who is passionate about real estate and making a difference in your community. You’re a hard worker and you love the freedom that comes with being your own boss and owning your own business. You started this business because you wanted more time and money in your life, but financial freedom seems to always be on the other side of that “next” deal. Like most real estate business owners, you are broke and have no control over your finances, and it’s hard to admit it. You know how to make a lot of money, and you keep working harder and harder, but have little to nothing in your bank accounts to show for it. You give the keys to your finances to some bookkeeper or accountant that you “hope” will fix all the problems, yet the problem seems to get worse. You often feel like a rat in a maze, sometimes living from deal to deal, hoping to work your way out debt. This leads to feelings of stress and overwhelm because you aren’t paying yourself enough and you’re just one bad deal away from going out of business. It’s time to stop living paycheck to paycheck and start actually keeping more of the money you work so hard to make! To have less stress, less confusion, to sleep better at night, and have a healthy, profitable business that enables you to have more time with your friends and family, not less. It’s time to start putting more actual profit in your pockets and know what you can spend on yourself, your family, and on growing your business. The key to this future is to put profit first and have a system for your cash flow that is dependable and reliable. Cash is not king, cash management is king.When you control your cash, you control your business. And when you control your business, you’ll have more profit and more time to do more of what you love. You got into this business to achieve true time and money freedom in your life and I’m here to show you, that with the right systems in place, you can have all of those things…and so much more. We’re the Profit First for Real Estate Investors Podcast, where we put profit first because it changes the way we live our lives, build our businesses, and pursue the things that matter the most. Our mission is to make money “one less thing” you worry about by empowering you with the tips, tactics, and strategies you need to finally take control of your finances…and of your life. Join us each week on the Podcast as we speak with real estate investors from around the country who put profit before expenses, value substance over status, and place the health of their business above growing their egos. In each episode, real estate investors from across the country will share how they’ve completely changed their business by implementing Profit First. You’ll hear how these battle hardened real estate investors were able to completely turn around and revolutionize their businesses, and in many cases, their lives, and learn from their mistakes and failures...so you can avoid doing the same things in your own business. We focus on the journey to greater profitability and cash in your pocket without becoming a financial wizard or needing to close more deals. Earning more money and keeping more of what you earn is the only true path to freedom. You don’t need to do more deals to keep more money, you just need to take your profit first. Welcome to the Profit First for Real Estate Investors Podcast.
263 Episodes
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In this episode, I welcome back my good friend and legendary note investor, Eddie Speed. With over 50,000 notes purchased and more than 25 years of teaching under his belt, Eddie is known as the “Note King” for a reason. If you’re a tired landlord looking for less stress and more cash flow—or if you’re simply seeking a smarter, more passive way to invest in real estate—this episode is going to open your eyes. We dig into how note investing compares to traditional rentals, why now is the perfe...
In this eye-opening episode, I bring back Mark Willis, a certified financial planner and expert in non-traditional wealth strategies, to discuss one of the most overlooked wealth-building tools for real estate investors: dividend-paying whole life insurance—also known as the “Bank On Yourself” concept. Mark shares how you can leverage this strategy not just for life insurance, but to create tax-free income, fund your investments, and even replace traditional rentals with guaranteed returns. ...
In this episode, I’m joined by Michael Bartolomei of Launch Control to talk about why texting isn’t just a marketing tactic—it’s a foundational part of a scalable business strategy. If you’ve been treating SMS as a one-off tool or cutting it when money gets tight, you’re missing out on one of the most powerful ways to create consistent deal flow in real estate investing. Michael brings deep insight from working with investors at every level—from solo operators to large teams—and he shares w...
In this powerful episode, I sit down again with the legendary Sharon Lechter—author of Rich Dad Poor Dad, Outwitting the Devil, and Exit Rich—to explore how entrepreneurs can shift their mindset, take control of their finances, and build lasting wealth even in uncertain times. We go deep into how to mentor your kids on money, why foundational business systems matter more than flashy marketing, and how to shift from owning a job to owning real assets. Whether you’re worried about market inst...
In this episode, I sit down with Jordan Fleming the co-founder of smrtPhone and author of Click Call Scale, to talk about the one tool most investors overlook when trying to grow their business: the phone system. We dive into how deep CRM integration, intentional data use, and AI-driven sales tools are transforming the way real estate investors manage teams, follow up with leads, and stay compliant. If you've ever thrown money at leads and wondered why your close rate is still weak, Jord...
In this episode, I sit down with Gino Barbaro—multifamily investor, author, educator, and co-founder of Jake & Gino. We dive deep into the mindset, systems, and financial foundations that helped him scale from a pizza shop owner to a real estate mogul managing over 2,000 units. Gino shares the critical role that Profit First played in helping him gain control over his personal and business finances—and why so many investors fail not from lack of opportunity, but from lack of clarity and...
What happens when your business loses over half a million dollars—and it’s your own fault? In this episode, I’m joined by my good friend and client Caleb Luketic, who shares how he climbed out of a $550K loss through strategy, grit, and knowing his numbers. We dive deep into the raw, behind-the-scenes reality of being on the brink—and how clarity, accountability, and CFO support helped him rebuild a thriving business in just 18 months. Caleb doesn’t just talk about the comeback. He reveals ...
In this episode, I chat with Chad Harris, a former missionary turned full-time real estate investor, who’s quietly mastered the art of building a rental portfolio without ever using traditional bank financing. Chad walks us through how he raised millions in private money—starting with zero savings and a $2K/month income—and why less interest is actually more attractive to lenders. From structuring win-win deals to understanding what private lenders actually want, Chad breaks down his strate...
In this episode, I sit down with Isabelle Guarino, CEO of Residential Assisted Living Academy, to talk about one of the most overlooked and impactful real estate investment opportunities in the market today. We dive deep into how owning and operating a residential assisted living home can create lasting income, build generational wealth, and provide critical care for a rapidly growing aging population. Isabelle shares how her late father pioneered the RAL movement, how the industry exploded...
In this episode, I sit down with Mike Webb—firefighter, real estate investor, and co-founder of Jump Capital—to talk about the moment life forced him to stop… and how it reset everything. After a terrifying medical event took him out of commission for months, Mike shares what it taught him about being intentional, building a real business (not just a job), and why profit without purpose means nothing. We get into how his business survived without him, the power of partnerships, and how Prof...
In this episode, I catch up with real estate investor and operator Joe Theriault, who pulls no punches about the gritty reality of scaling a company from solo hustler to a 20-person powerhouse. Joe shares the lessons, sacrifices, and systems that got him from being burnt out on renovations to building a culture-first business with a massive vision—and the finances to back it up. We get into everything from top-grading talent and building true loyalty, to navigating cash flow chaos with Prof...
In this episode, I reconnect with my friend and client Bill Kenny, who shares his powerful transformation from grinding through dozens of flips and transactions a year to building a more sustainable and scalable business. Bill opens up about how burnout pushed him to pivot into commercial real estate and start his own hard money lending company, Jump Capital. We unpack how he transitioned from being in the trenches to funding deals for others, and how implementing Profit First (with help fr...
In this episode, I’m joined by Matt Kamp from DealMachine—an expert in real estate lead generation, partnerships, and all things systems. If you’ve ever struggled with keeping your deal flow consistent or wondered how tech can help you scale your investing business, this one’s a must-listen. Matt shares how DealMachine evolved from a simple tool for driving for dollars into a full-fledged real estate marketing platform that helps investors find, finance, and flip properties with ease. We al...
In this episode, I sit down with the dynamic and unstoppable Nicole Purvy—a serial entrepreneur who transformed early setbacks into a real estate empire and a deeply impactful coaching platform. From being escorted out of her finance job for launching a YouTube channel, to teaching herself web design, building a digital marketing agency, and eventually founding one of the most respected real estate communities in Philadelphia, Nicole’s story is a masterclass in reinvention and purpose. We tal...
In this high-energy episode, I welcome back two of my favorite recurring guests, Joe and Jenn Delle Fave—real estate pros who are in the trenches every day. If you’re feeling the effects of a down market, this episode is your survival guide. We break down actionable strategies you can implement today, especially if your go-to tools like wholesaling or flipping aren’t hitting like they used to. Joe and Jenn explain how adding creative finance to your investor toolkit can be a total game-change...
In this episode, I sit down with Jonas Medrano, a powerhouse of discipline and drive who took the principles he learned from sports and fitness and applied them masterfully to real estate investing. From wholesaling his first property to scaling a $12 million business from his dining room table, Jonas’ story is not just about financial success, it’s about the mindset and grit it takes to get there. We dig into how Jonas adopted the Profit First philosophy early in his business and how that ...
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-stora...
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 o...
"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 expe...
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 Ran...
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Comments (1)

Emilia Gray

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May 3rd
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