Welcome to a new episode of Get Creative! Today, we have David Richter, a highly regarded expert in financial management for real estate investors and author of the influential book Profit First. In this episode, David discusses the critical financial strategies that can help investors manage their money effectively, avoid common pitfalls, and build a profitable business. He shares his journey in real estate, the inspiration behind his book, and practical tips for managing finances as you scale your business.



Highlights:

"Bookkeepers track; CFOs strategize."

"You don’t need a CFO when you’re brand new."

"Scaling to oblivion is a common mistake."

"Understanding your numbers is crucial for success."



Timestamps:

00:00 Welcome to the Get Creative Podcast

01:06 Introduction of Guest: David Richter

02:30 Overview of David’s Company: Simple CFO

03:58 Inspiration Behind Profit First

05:21 David's First Real Estate Deal Experience

07:05 The Importance of Financial Management

09:14 Common Financial Pitfalls in Real Estate

10:15 Transitioning to Better Financial Practices

12:14 Addressing the Epidemic of Financial Illiteracy

14:30 Closing Thoughts and Resources for Listeners



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► Become a Top Tier Transaction Coordinator and Make Money Doing The Paperwork For Real Estate Transactions:

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► Listen To Pace and His Students Share Insider Secrets To Real Estate Investor Success:

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