Behind the Scenes: The Enrolled Agent’s Guide to Financial Success

Title: “Behind the Scenes: The Enrolled Agent’s Guide to Financial Success” 


Episode: 190


We have our CFO Series for this episode of the Profit First for the REI podcast!

Alexis Sidney, a seasoned Chief Financial Officer, joined us in the show as she shared how she made an impact as a fractional CFO. 

How CFOs make a difference? How did they make an impact? Listen as she answers these questions. Alexis also talks about the struggles that they see daily. Enjoy the show!


Key Takeaways:

[01:00] Introducing Alexis Sidney

[03:10] What does she do as an EA?

[06:37] Interesting part of the CFO Role

[08:15] Different types of struggle people encounter

[15:56] Benefits of Profit First for Alexis as CFO

[19:40] Pros of working with a CFO

[23:48] Alexis’ advice for real estate investors

[26:48] Connect with Alexis and Simple CFO



[06:52] “There was something more just behind a profit and loss report… those number means something.”

[12:55] “It does take time for people to trust you, and you can’t overwhelm them by forcing them… just assure them.”

[20:12] “Working with a CFO allows you to have that person on your shoulder.”


Connect with Alexis:


Website: https://simplecfo.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



Speaker 1:

I introduced to Profit First when Covid first happened. And I was like, what is this profit first? What is it? So, you know, I got the book, I read it and I was like, okay, cool. So funny story is I tried to implement it on my own, just going off of the book and I was like, okay, I’m gonna do this, I’m gonna do this, I’m gonna do this,

Speaker 2:

This. If you’re a real estate investor who’s sick and tired of living deal to deal, then welcome home. Hear from everyday real estate investors just like you, and discover how they’ve completely transformed their business by taking a profit First approach. This is the profit first for R e I podcast, where we believe revenue is vanity. Profit is sanity. It’s time to start making profit a habit in your business. So here’s your host, David Richter.

Speaker 3:

This is a completely different episode than if you’ve listened to all the episodes so far, or most of them that we actually interview one of our CFOs. And I’m going to do that with a couple of the different CFOs that we have. But today’s Alexis, Cindy, she’s an incredible, she’s an enrolled agent. So she has tax work in her background, but now she’s making an impact as a fractional C F O. So we talk about how do we make a difference? How do you make an impact? Where do you come from? The struggles that we see on a daily basis. People that are, she talks about a lot of the emotional things that go, people go through with money. This is just a really good episode. If you wanna kick back and say, okay, what do I need to do? What are the first steps?

’cause She kind of outlined some of the first steps that you can take as well too. Thank you so much for listening. I know that this episode can be a benefit to you and put you on the right path. Thank you again, have a great rest of your day. Hey everyone, I am super excited about this episode ’cause it’s different than what you’ve heard before. We have had, I think over 180 people on the episode so far, but I haven’t introduced you to some of the team members that work with simple C F O and fractional CFOs in general. Like, what the heck is that? Why do we do what we do? Who are we? Like, all that type of stuff. But I have Alexis, Cindy in the studio today, which we’re just doing it on this recording device here. But that’s where I have Alexis, I’m super excited. She’s A C F O with us. She’s worked with several of our clients. She’s an amazing human being. Alexis, thank you for being on the podcast today.

Speaker 1:

Thank you for having me. David. What an opportunity to be here,

Speaker 3:

Right? And I want to, if you’re a listener from this episode, I want you to get why, not only why do we do what we do, but how does it make an impact on people? And then why do we do it? Like what is there, what’s the reasoning behind becoming a fractional C F O versus just a bookkeeper or C P a, or you’ll find out what an EA is too, ’cause Alexis has that in her and her history and then what she does as well too. So that’s where we’re gonna talk about some of that stuff. But I also wanna talk about working with clients and like some of the concerns on both sides, but then some of the wins and like what are we doing like to make sure that people are winning. So just a really interesting episode. I’m talking way too much. I usually don’t talk this much and just dive into questions. So Alexis, let’s get into it. What is your, your background is in the finance space, correct? You have the EA and can you tell people what EA is and like the acronym, what it’s for and what it stands for and like what that does? And just a little bit of your background so people can get to know you.

Speaker 1:

Sure, sure. So again, I’m Alexis Sydney and I am an ea, I’m an enrolled agent. I’m licensed to practice by the I R Ss. So I went through some rigorous exams, studying all of that great stuff to be able to hold that credential. And what it does allow me to do is to be able to represent clients if they have tax issues, troubles, you know, all of that stuff. I can go to war bat to bat with the i r s with you regarding nice. Anything I can also, you know, just get information on you without having to go through hoops and hurdles. So having that EA is really designated behind taxes and just all of the education that you can get. We have to stay up to date with continuous education hours to keep the credential. So I did that because of course I’ve been doing taxes for about 19 years now.

I know I look young. I started in college and you know, I started with it being a side hustle. I had a friend that had many offices all over and I was just like, I wanna make some money. So I got into taxes and I’m still in it. So I’ve went through, you know, many years of taxes and taxes and that’s pretty much all I focused on. But as I got older and started, you know, being in the industry a lot and dealing with small business owners, I saw that there was a need to be able to bring more value to the clients that I served. Yep. And really bring additional service in addition to tax prep. So that opened a door for me to be able to start offering accounting services or just doing things where I’m doing coaching.

 I even in the game, I went and got my real estate license and insurance as well. So, you know, those are key components and things that all clients need regardless of what industry they’re in. Mm-Hmm. <affirmative>. But I just wanted myself to be that one-stop shop for my clients where even if I wasn’t, you know, doing a lot of insurance or things I knew enough where I can talk to them about it and not be in any kind of violation with the state of Georgia, which I’m in but just getting them to the right people, even if it’s through strategic partnerships or whatnot. Yeah. so, you know, that’s me. That’s what I do. Awesome. and I love it. <Laugh>.

Speaker 3:

No, that’s, that’s great stuff because a lot of people don’t <laugh>. This is why if you’re listening, like if you, you, you’ve listened to a lot of real estate investors in the entrepreneur side of that part, but now you get to hear from someone who’s actually taken the test has, you know, does the continuous things you don’t have to do so you can be doing the deals and that type of stuff. And then what I love what you said, Alexis was providing more value to people. Like it’s not just about the taxes, it’s about okay, how are they doing in their business? Which I feel like is a big part of the fractional C F O part. And if you’ve never heard of fractional C F O, that’s a part-time and for a fraction of the cost of a full-time chief financial officer. But Alexis on that side, why did you get into the C F O role and like why did you want to start down that path? ’cause It sounds like you’ve done a lot of stuff on the tax side. You’ve done some on the accounting side as well too, like the actual, you know, bookkeeping and that, you know, and stuff that comes with all of that. So what interested you about the C F O role?

Speaker 1:

Yeah, so I always knew like there is more and you know, as I continued to work with businesses and their level were increasing or they wanted to take their business to the next level, I knew that there was something more just behind a profit and loss report or doing categorization work. Like those numbers mean something. And you know, business owners, they have goals, they have dreams and all of that needs to be connected. The dots have to be connected for them. And I think that’s where the C F O, the fractional service allows you to do that with clients. It allows you to not only take, you know, the numbers ’cause you have to have the numbers, but make sense out of the numbers. Let the numbers tell a story. And if they’re not telling that story that you want to tell, how do we get there and incorporate your real dreams, your goals, your vision, your future, your, all of that stuff gets to play in it. So I love the C F O world because it allows you to do that. It allows you to take it to that next level so that you can have the business that you want and desire.

Speaker 3:

Yeah, I love that. It’s absolutely great. It’s that forward facing, where are we going instead of just like, okay, here’s the stuff that’s happened, which is you have to have both. But then it’s like, what do you do with that? I love how you said that. It’s, again, you gotta turn the numbers into something else. Okay. So then tell me this, since you’ve gone into that role, what struggles do you see that a lot of the business owners having on the financial side? Do you see some struggles that pop up that are pretty normal for a lot of people and maybe they just don’t know it’s normal? <Laugh>,

Speaker 1:

<Laugh>? I’m laughing. It depends. <Laugh>. Yeah. I see so many struggles. You know, and it depends on the level of business owner, like where they are. That makes sense. Like the struggles are so different. You know, I, I was speaking with the business owner I believe over the weekend and you know, their struggle was, they’re not even doing financials, but they have all these goals and dreams and you know, they wanna do this, they wanna do that. And for me, I’m like, will you just take advantage of this service? ’cause You will get all of that. You’ll get that clarity. I see that a lot of business owners are out there their own. They’re not connected to the right people. You know, they may be embarrassed about their financial situation. So they don’t have the inner level conversations with their friends.

You know, they’re ashamed with their finances, they’re embarrassed that they’re not doing what they’re supposed to be doing, but you know, they’re the business owner. They have this, you know, prestige that they have to follow. So I see a lot of that when I’m working with clients and you know, that’s where, you know, we can comment as CFOs and make a difference for them. But like I said, I see, you know, people and it’s like, okay, you are making all of this money. Like, gosh, I wish I, I’m making that kind of money. <Laugh> nice and I’m so impressed. But then it’s like, where is it <laugh>? And I see a lot of that also. So that’s where too, as CFOs we come in and we get clarity around where their money is going so that they have a plan and it’s not their money doing what it wants to do, but them telling where their money, where to go and having control over it.

Speaker 3:

No, that’s really good. And I feel like you hit the nail on the head there a lot, especially when you said embarrassed and ashamed. ’cause I feel like a lot of people think they should know. But I mean, have you seen this? I mean, a lot of people aren’t taught this stuff. No, there’s not really taught anywhere. Do you see a taught places

Speaker 1:

<Laugh>? We’re we’re teaching it, but <laugh>, right. We’re

Speaker 3:

Teaching it. There you go. That’s about it that I see. Oh man, awesome. So I love that. The embarrassed, the ashamed not connected. That was good. And then no financials, man, that’s a big one too. They have all these goals and dreams, but no financials to know, are we on track for that or does it just apply in the sky type thing? Ah, man, see that a ton. So I think that was really good. And then you obviously, where is all the money? Like you’re making all this money, where’d it go? Like we gotta dig in and find that. Now. I, I see that where a lot of people get to that level. They start doing six figures then into the seven figures and it’s like, oh shoot, more money has just escaped me. Where did it go? Right, <laugh>. So no, I, I a hundred percent agree. Those are some of the biggest struggles that I see as well too. Okay. Well then you’ve worked with clients like with your own and like with through simple C F O. How is it working with people? Like are people usually open to receiving what you’re trying to give them? Do they resist it? Is it their walk of life and like the role of A C F O being that type of leader? How is it actually working with people on this role?

Speaker 1:

Well, you know, it’s definitely, it’s a fun experience, I would say. Yeah. I think when they get to the level where they know like, okay, I’m gonna make this investment. Yeah. For me, I haven’t had any resistance with the clients. They’re like open, like, okay, I need your help. I know I’m at a place where I don’t wanna fail and I just need whatever you can give me to help me, you know, get to where I wanna be. So, luckily for me, I haven’t had any resistance when it comes to working with clients, especially on the simple C f O side. However, <laugh> some of my clients, when I try to work with them and implement, you know, some of the strategies or whatnot, I get a lot of resistance. Especially when it comes to implementing the Profit First model for some people, people because they’re like all these accounts, why do I need this <laugh>?

I can do this, you know, I understand what you’re saying, but I’m just gonna do it with my one account for now and I’ll tell you. And so it’s like, you know, for me just being the one that’s, you know, in control and not allowing the client, ’cause it’s like, you made the investment to work with me. You want me to be your C F O? So just building that trust. And you know, it, it’s okay. You may get a by with it a few times. Like, okay, I’m not gonna do it. Or push me off the next meeting, the next meeting, the next meeting. And then it’s like, did you get those accounts set up? And they’re like so, you know, for me being in that role, I, I do know that it does take time for people to trust you.

 And you can’t overwhelm them by forcing them, like you’re gonna beat ’em up if they don’t do something. But just really assuring them like, every time that you don’t meet your goal, let’s bring this to the forefront. And understanding like what is the challenge behind you not doing what you need to do? Like what is the problem? Because it may be something, you know, small to me, but huge to them. But just understanding with them and working with them, you know, on that level and just building that trust and, you know, that friend, I don’t wanna say friendship, like we’re going to hang out, but you know, just that friendship and the time that we spend together, just knowing like, you know, I’m, I’m here to support you. I’m not trying to judge you. I, I want this to work. And just being that confidant with them to help them overcome, you know, whatever struggles they may be having.

Speaker 3:

Yeah. Well that’s really good. ’cause That’s good. Especially on our side. We don’t take bonehead people. Like if we do, we kick ’em right out. Like for the, at least the client part. So it’s good there that you’re not getting a lot of resistance from that side, but it is a lot of like, okay, we know we need it at this point. Like they don’t wanna scale into oblivion, into bankruptcy, and they want, you know, the people that, that are helping them focus on what they’re actually good at. So, and I, I love that because I feel if, do you feel this way that you’re making an impact not just on their business but their life? Like, would you say that, that when you help them on the financial side, that that’s a byproduct?

Speaker 1:

Well, definitely it is because, you know, this is, they do business to, you know, generate the lifestyle they want, or at least most people do. And, you know, it can be a struggle, especially if the business isn’t going right and you gotta attitude walking around and then your family <laugh> has to deal with it or they’re not getting the best you. So we definitely have a, a impact on them and their lives and, you know, how can show up better for their families and be that person that they wanna be. So, you know, it’s so impactful to that level.

Speaker 3:

I love that. That’s, I mean, that’s why we do what we do. That’s why I wanted Alexis on here. That’s why I wanna do a mini series of just interviewing some of the CFOs because that’s what we’re really trying to do. We’re really trying to help, if you’re a listener, that’s why we do this podcast. <Laugh>, like I’ve given you what, 180 examples or something so far of like people in the Profit First world or just the importance of keeping the money you’re making now. It’s like, I wanna make sure you have some resources here too. These are some of the people that we work with that we wanna empower to make an impact on you and making sure that you’re getting to where you really want to be. So it’s like, I wanna make sure that we’re doing everything in our power here and that’s why we have Alexis on. And this has been awesome. I really like this. Like it’s been, this is a breath of fresh air talking with you, Alexis. So, okay. You talk about Profit First and some of the resistance opening up the accounts. What do you see the benefits of Profit First and working with people and what that system can help people do, especially since it’s the Profit First Aria podcast?

Speaker 1:

Oh yeah, definitely. So Profit First is amazing. I was, I introduced to Profit First when Covid first happened and I was like, what is this profit first? What is it? So, you know, I got the book, I read it and I was like, okay, cool. So funny story is I tried to implement it on my own, just going off of the book. And I was like, okay, I’m gonna do this, I’m gonna do this, I’m gonna do this. And then I was like, I knew there was more however I wanted to be able to provide the service. ’cause Again, I felt like there was something needed to be able to give someone something tangible as I was going into C F O services and giving clients advisory services and I’m that tangible person, like, you know, coming from Tax, it’s like I give you a tax return, you pay me, you get a return <laugh>, right?

Yeah. So with the cfo it’s like, well, what am I giving them? Like I just was like, okay, I can really talk to somebody and that’s giving them something and they’re gonna pay. And yes it is, but I still felt like there was some sort of framework or something that was needed to help bring clarity. And that’s what Profit First did. For me, it allowed me to learn the concept and the model to be able to bring financial clarity to people. And I always tell my clients like, you know, if you’re operating your business with one account, you know, how do you have clarity? Because I knew when <laugh>, you know, I was doing it, or even in my personal life, I had one checking account and you know, the young me would go out on the weekends and spend, spend, spend.

And then I’m like, oh crap, you know, when it’s Monday and I gotta sit down and pay bills, I’m like, whoa, maybe I should have moved my party money to another account. So I, I love the system because it’s almost like, you know, an envelope, an electronic envelope system that just really gives you the clarity you, so you can put your money where it needs to go. You can open your bank account at one time and say, Hey, I know what I have available to do what I need to do based on these buckets. So the system is awesome. I, I love it. And I feel like, you know, the clients that we work with and serve, they love it too because they’re wanting to know how to get clarity as well and how to organize their money so that they’re accounted for everything that’s going on within their business operations.

Speaker 3:

Yeah, no, that’s great because how many times does that word pop up, that clarity? You used it earlier, no financials, no clarity, same, same, it sounds like here too. One bank account, no clarity, right? And that’s where a lot of people struggle with that. So I feel like that is definitely a big solution to getting that clarity inside the business, especially around the cash. ’cause I, you see this, I’m sure the cash is one of the biggest things that entrepreneurs think about. Would you agree?

Speaker 1:

Yes, definitely. It, it, it’s the end all be all <laugh> side.

Speaker 3:

So that’s where it’s really where the rubber meets the road. That’s why I like this podcast. I like, we’re just trying to get that message out there that there’s a way to actually make sure the cash is working for you and not against you, especially in the real estate world. Do you find that, that a lot of real estate investors struggle with their cash and the cash position and especially if they’re rehabbing, doing things like that too?

Speaker 1:

Yeah, I, I do. Especially the real estate investors. ’cause What I’m finding is that, you know, they’re in these projects and their thing is, I gotta get this deal closed or exit out of it quickly. Yeah. And a lot of times you, you lose focus on the numbers or what you have to do ’cause you’re trying to get to that mark because okay, this is costing you, you know, you’re have holding costs, you know, all of this stuff that you have going on and you’re just trying to get to that number. So it’s like whatever I need to do to get there, you know? But that’s where we come in at because it’s like, we’re working with you through these processes and we’re like that behind the scenes eyes and ears on your numbers so that you can have that clarity to know like how to navigate through this. So like you’re not losing, but then you have that oversight as if you’re going down that wrong path. Like you have someone there on your side to be like, wait a minute, this may not be the best way to do this. Have you considered X, Y, and Z? Have you looked into this? Maybe this isn’t the proper exit strategy for you. So, you know, working with the C F O allows you to have that, that person on your shoulder <laugh>. Oh,

Speaker 3:

That’s great. That’s a great analogy there because so many people need that person and they don’t. I, it’s like you get a business coach, well, with you, even you have some of the tax background too. ’cause Not every CFO’s gonna have the ea you know designation or that type of stuff. So like with you, you, you even have some more oomph behind you. You’ve got that, you’ve got the business coaching, you’ve got the C F O role. It’s like you get this all in one with this person that’s on your shoulders saying, Hey, did you think about this? Did you not? So I love how you put it there because it’s more about you present them the options, but do they have the final say on what they do or do you tell them what to do <laugh>? What, what, what’s your approach?

Speaker 1:

You know, I always give ’em the final say on what they need to do, but just present ’em with the facts. Do you want these numbers or you want these numbers? There you go. You make the decision. And that’s good. The time they go with what I say <laugh>.

Speaker 3:

Well, it’s good because a lot of people, like you said, especially when we’ve already talked about this, no financials or one bank account, they don’t have that clarity. You provide clarity, you provide that clarity to be able to say, do you want this or do you want this? And I like how you said earlier, it’s more about, you know, like why they started their business. So you could be like, you started for this and here’s the two options that you have and this one will get you closer to it, then this one won’t. Like which one do you want to do? But a lot of people don’t have that. That’s why they’re running around blind. So Yeah. I have you seen that with the people you’ve worked with? It’s almost like a breath of fresh air. Does it feel like, okay, someone’s in the trenches with me helping me know which way I should go because I can’t navigate this whole trench?

Speaker 1:

Yeah. I, I, it’s a beauty when people really buy into, you know, the model of what we’re doing. It’s beautiful because it allows them to kind of just, you know, put their feelings aside, you know, put their self aside and really focus on their dreams, their goals, and why they got into this and you know, let pride go out the door. Right? ’cause again, we all, we all need help. You know, if we knew how to do it without any help, we would’ve done it. And <laugh>, you know?

Speaker 3:

Yeah, exactly.

Speaker 1:

But it is beautiful when you see people really like taking charge, really, you know, moving the money, following the plan that you have in place for them. And that, that really excites me because it’s like, okay, they’re, they’re gonna make it <laugh>,

Speaker 3:

Right? Yeah. That’s good. It’s, see, it’s fun to see when it actually lines up and they’re like, yes, let’s run with it. And then they do and you see them more profitable and it’s like, okay, like finally, like someone’s actually listening here, so, right. No, that’s good because that’s what we talk about. Like that’s why, like I keep saying, we started this to make an impact and that’s the type of impact that you’re able to make. You’re able to see that, okay, they took this advice, they actually had the clarity, they were able to make a better, more informed decision and it got them a better outcome. There’s no feeling like that. So, which is great. I’m, this has been an awesome podcast, so I will, even if you’re listening to this, like, oh my gosh, what is this all about? Like, and you turned me off a long time ago.

I thank you for listening this far because this has been fun for me because this is why we do it. Like, I wanna also make sure we bring amazing people like Alexis Alan to say, okay, this is another person that wants to make an impact and how can I empower her to make an impact, you know, on you as a listener here and then if you work with us as well too. So Alexis, if you had any advice for a person listening to this podcast that wanted to implement Profit first, what in what advice would you give them?

Speaker 1:

<Laugh>? Well, I would definitely tell ’em to read the book depending on their niche. I know we’re talking with real estate investors but definitely read the Profit First for real estate investors. You know, that book was a game changer for me. I knew about the regular book, but then I was like, lemme read this one. And it was so capture and I remember I, I got it. I read it that whole Saturday. I, I couldn’t take my eyes off and I’m like, I know I read the regular one, but you know the story about the guy Dan in the book, you know, that was so real. <Laugh>. Yeah. Yeah, that’s real talk. It was so real and I’m sure that, you know, many real estate investors can probably relate to that story. So definitely first read the book you know, get you some support because again, it’s one thing to read the book and understand the concept and try to implement it yourself, like I say.

But when you get on the inside and you’re working with someone who’s trained and skilled in really implementing the model for you, you have better results, you have better numbers, you have better overview and then you have that accountability. Mm, yeah. So definitely take that leap and you know, get with someone that can help you really get it going and you know, help you stay accountable through the different timeframes of implementing it. And then also in addition to the profit first, because this is where my tax stuff comes in. Yeah. definitely, you know, partner, have the right people on your team as far as your accountant. ’cause Again, I always say with Profit first, yes we have that bucket for taxes, but do you have a tax plan? You know, <laugh>? Yep. That’s good. ’cause If you have one and you have the right one and you have strategies, you know that money you’re saving may be able to come back to you, you know? Yeah. so I always tell people that. So just make sure you have your money team, I’ll call ’em in place so that your system, your business model can flow smoothly. You have your bookkeeper, you have your tax person, you have your C F O and I think you’ll be good to go.

Speaker 3:

There you go. This is good stuff, but thank you so much for being on here, Alexis. This has been a lot of fun. And then if you’re listening to this and you’re like, you know what, this sounds good, David. You’ve talked enough and like we’ve talked, we, I’ve heard all your episodes and now this one was definitely awesome as another one. You could work with people like Alexis, you could work with Alexis. We maybe a requester if she has enough openings. But go to simple cfo.com if you wanna stop worrying about the money, if you wanna get profit first implemented, if you wanna learn how to win the money game and like making sure that you’re able to do what you want to do and get the deals in the door, but then actually keep more of what you’re making. That’s what we do.

We want to make that bottom line impact for you. Put more money in your pocket. That’s why this has been, I I’m, I’m just giddy with like, this has been a lot of fun talking with someone that is making an impact, like literally is making an impact with people just like you if you’re listening to this ’cause. So go to simple cfo.com. I, you know what, since this this, this is the first time we’ve done that. You can, you can request Alexis, see if she’s available and see if she could be your C F O as well too. But go there, schedule a call and if this sounds like something that works for you, great. If not, we can at least help you and guide you to the right money people too on your team. I love that what you said, that money team, because if you are not in the position for a part-time c F O, maybe we can get you to the right person. So there we go. Thank you so much for listening. And Alexis, thank you so much for being on the show.

Speaker 1:

Thank you for having me.

Speaker 2:

This episode of the Profit First for r e I podcast is over, but there are plenty more where that came from. Are you ready to learn how David and his team can help implement the Profit First system in your business? Schedule a discovery call@simplecfo.com right now. We’ll see you next time on the Profit First for r e I podcast with David Richter.


Title: “Realize Your REI Potential with Jennifer Steward: Authenticity, Profitability, and Consistency”

Episode: 240

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


[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


Speaker 1 (00:00):

You need to just be able to solve the seller’s problem and just start with one exit strategy that you’re really confident in. And then once you master that, expand from there. And like you and I talked about, it’s who not how you don’t have time. Most likely to master all of those. So have a referral partner that you can build a relationship with and trust.

Speaker 2 (00:23):

If you’re a real estate investor who’s sick and tired of living deal to deal, then welcome home. Hear from everyday real estate investors just like you, and discover how they’ve completely transformed their business by taking a profit First approach. This is the profit first for REI podcast, where we believe revenue is vanity. Profit is sanity. It’s time to start making profit a habit in your business. So here’s your host, David Richter.

Speaker 3 (00:50):

Today we have Jennifer Stewart on which she is a go-getter. She’s out there, she’s doing lots of things. She’s in the cold calling space. She’s also a real estate investor. But then she’s also someone who I think has gone through a lot in her life and has come out on the other side stronger. And you can tell just from what she talks about and what she sees as the most successful real estate investors, what they do on a daily basis, on a monthly basis, it’s just good bottom line stuff to help you if you want to become someone who’s consistent in business, no matter what the market is doing. So I think this is going to be a really good episode. She gets into the nitty gritty and also just helping you get to where you want to be and making more money as a entrepreneur. Jennifer, welcome to the Profit First REI podcast. I’m so excited you’re here today.

Speaker 1 (01:37):

David, thank you so much for having me. I’ve been looking forward to this all weekend. What a great way to spend a Tuesday at noon and thank you. Thank you so much for having me today.

Speaker 3 (01:47):

Yeah, well I’m excited because we dance around in these different groups and we’re going to these events and you’re speaking a lot, you’re helping a lot of people out there, and I see you as someone who’s just very much, I hope this comes across, but just a very mature human being that has gone through a lot, but you haven’t just been a victim. You’ve been someone who said, I’m going to grow from what I’ve gone through, and that’s what I’ve just observed. And then honestly, there’s lots of my friends that respect you a lot too. I’ve gotten to know you well, so I’m excited about this one. So many things that I feel like we could go down, lots of roads here. So again, thank you for being on the show.

Speaker 1 (02:25):

I appreciate that. That’s very generous and kind observation. I think mature is a very polite word and I am just kind of overwhelmed with that kind assessment.

Speaker 3 (02:37):

Yeah, well, I don’t want to use any rude words for you here today, so we’re going to dive into it. No, but seriously I do. I see as someone who takes a lot of those lessons and applies them right away. I would also say too that you are not scared about sharing what you’ve learned and what you’ve gone through. Where do you get that deep sense of truth to share exactly what’s going on? And I don’t know if you’re a fan of the office or if you’ve ever seen that show. I like the Office, if you like the office. Where is it? I think it’s Kelly’s, Dayton, Daryl, and she says, he said, who says exactly what they’re thinking? What kind of game is that? And I’m like, that is Jennifer to a t. And I’m just wondering how did you get that as part of you? Because I think it’s so genuine, authentic, and it brings more people to you and they resonate. You’re saying what they’re scared to say.

Speaker 1 (03:30):

My business advisors have told me to do the opposite. They said

Speaker 3 (03:36):

Genuine, sorry. That’s great. Basically the

Speaker 1 (03:38):

More money you’re going to make, you have to play the game. And so what I’ll do, David being totally transparent, is I’ll turn that on and off depending on my revenue. So I know that sounds hilarious probably, but if my revenue gets lower, I will turn off the authenticity to a certain extent and go back into my polite game, the system mode. But whenever income is plentiful, I’ll go back to being more my authentic sharing self because number one, sometimes I get more business than I can possibly ever take down, and that’s overwhelming. And so I find that authenticity is like a business repellent, but it’s so much, it’s so stressful for me to be fake. It’s so stressful for me to be something I’m not. And that’s me being a little bit funny, but also kind of realistic as a business woman. And then there’s me as a person who has a soul and that person wants to connect. That person realizes that I’m not just here to make money, I am here to help people who are suffering. And I know that sounds cheesy and cliche, but it’s true. And lemme tell you, I don’t want to be one of those people who are suffering. So I will switch into a mode that is more polished, if that makes sense.

Speaker 3 (05:09):

That makes sense.

Speaker 1 (05:10):

Because I don’t want to starve. And so I do kind of go back and forth between, okay, I need to dial it back. And I think that people notice that if I was just all the time talking about what a person can overcome or the deep parts of our why and our feelings, then I think that would really drive away a lot of business. I’ve seen people who got up on stage and talked about aligning the chakras and they were never invited back. So you have to find a balance between being a compelling human who helps people overcome these internal struggles that we likely all face, especially as entrepreneurs, depression, anxiety, slow times debt overhead, really painful things that will keep up at night and destroy your health and destroy your relationships. And then we also need to focus on, unfortunately we have to project an image of success from time to time because I’ll tell you, I always get the most business whenever I’m on vacation, I can actively ask people to leave me alone while I’m on vacation.


And that’s whenever I get all the messages for, Hey, I want to do business with you. Because they see the success, they see that it works. When really that’s I’m spending the money, that’s whenever I’m the least successful because I’m not putting time into my business and the dollars are just flying out the window like someone who has an open wound. And so it’s funny because it’s whenever you’re doing the best that it doesn’t show, and whenever I’m making the most money, it’s usually whenever I look the worst, I haven’t had time to groom myself. I’m probably still wearing pajamas that day. And so it’s almost always the opposite as to who has money and who doesn’t. So the person you see with the super nice house and the super nice car, those people have confided in me, Hey, I have so much pressure, I feel like I’m going to lose it.


But those are the people that look up to and respect. And so that being said, David, if I was financially independent, 100% I would be genuine and deep and all the time, if that makes sense. It would be like, Hey, when you woke up today, did you thank God for just waking up? And what are some ways that you can lower your overhead? What are some ways you can increase revenue? Are you wasting time on non-revenue generating activities? Are you doing too much stuff for free? Those of us who are in real estate, I think we do too many things for free. And like you and I talked about, it’s not just your expenditures that are on your books, it’s also the expenditures that are on your time. And so I talked to my attorney last week about dropping non-revenue generating businesses that just aren’t converting because there’s hope in one hand and there’s numbers in the other.


And after a certain amount of time, you need to realize which businesses are covering for the businesses that are taking a loss. And so my lawyer kind of sat me down and I know you do this, and we had to look at which businesses are just not generating and which are carrying the ones that aren’t. And he said, just focus on the ones that are. And so that being said, whenever we wake up every day, if we are our real selves all day, it usually doesn’t translate into revenue. But when I have the luxury of being myself, David, I always want to reduce the suffering of others because that’s kind of all I’ve done my whole life is I’ve had to overcome and overcome and overcome and overcome to a degree that just feels, it could feel really unlucky if I let myself go there. But instead of feeling unlucky, I have to see the opposite side of it. So for all the extremely low probability things that happened to me, there’s also extreme low probability things that happened for me. And you have to see both.

Speaker 3 (09:11):

Right. That’s really good. That is really good. So since we’ve gone down this road, and especially for the real estate investors listening, what would you say are some of the best revenue producing activities they could be doing or that you see in your own life that you do that translates into that

Speaker 1 (09:29):

You have to fill a niche that nobody else is filling? You have to see a problem that everyone is facing a hitch in the giddy up that’s keeping everyone from making money. What I’m noticing right now, for example, people don’t have the money for down payments on their loans. So like we mentioned before the call, I’m offering a program where you can do a hundred percent financing as long as you’re one of my cold calling clients. And it blew up because people don’t have the money for a down payment right now, and my cold callers really aren’t that expensive. And so it solves that problem for them. And in the past, the biggest problem was finding deals. And in a market where you can’t find deals, but there’s plenty of money, then you have to be the person who knows how to find the deals.


And so you have to find what’s keeping people from making money today in the current market and then really, really leverage your social media and go speak, like you and I talked about before, go speak on those topics, mention it on social media, put it in your stories, tell people what you do, and then be really consistent with your message because people are watching, they want to see consistency. And it’s like my lawyer taught me, who’s Jeff Watson? If they see you being erratic and all over the place and not consistent in your message, then people don’t trust that they can go to you to solve these problems. And so that’s the big key is leveraging your social media and being really consistent in your message and making sure that you’re solving the problems of today. So those three things, consistency, solving the current problems and just making sure that you’re leveraging pretty much every avenue that you can.


And of course, always want to be competent and run an ethical business because you can spend 10 years building a reputation. And if you hire one bad employee or someone who makes you look bad or doesn’t deliver for a client, unfortunately bad news spreads like wildfire and just whatever you’re buying on Amazon, you’re going to pay more attention to the bad review than the good reviews because we’re looking for to avoid pain for good reasons. I mean, some things could take us out and set us back a decade if we make the wrong investment. And so it’s really, really important in a capital intensive business what we’re in to be someone who’s trustworthy, competent with very high integrity. Like you and I talked last week and I told you, I was like, Hey, I can’t be consulting on a topic that I don’t know about. Thank you for the inquiry. But that would be horribly unethical. And you have to do that. You have to turn down the fast money for the long-term play of having high integrity.

Speaker 3 (12:18):

Yeah, no, a hundred percent. That’s really good. I think that’s consistency, solving the problem for today and then getting the message out. So those are three steps there. And I think that’s where it’s like, it’s so simple, but it’s like that number one, you got to do it consistently and you got to move to where the market is. So I think that’s really good stuff because I can’t agree more because I think, do you think that a lot of real estate investors build themselves into a box and then when that solving the problem of what they used to do doesn’t solve it anymore, that they have a hard time pivoting to something that will and bring the revenue? Yeah,

Speaker 1 (12:57):

I mean you have your fast movers, your highly networked people who are poised to move, but for anyone who doesn’t want to hustle 24 7, it’s hard to pivot like that. I mean, at some point, I think human beings, we all want consistency, predictability. And one thing that’s really tough about this business, and I’m sure everyone notices, is how fast paced it really is. Now, if we were in the paper business, for example, David, how much do you think things change? Speaking of office space or not office space, the

Speaker 3 (13:35):

Office office,

Speaker 1 (13:36):

Yeah, yeah. I mean if we’re a paper company, how often do you think the industry changes? Right.

Speaker 3 (13:42):

It doesn’t really change. I don’t know.

Speaker 1 (13:44):

I mean maybe a paper guy comes and messages us and said, oh, you wouldn’t believe.


But it seems like from the outside looking in that real estate, every day there’s some new gimmicky stuff and you’re just like, I can’t handle this. I need to step away because I can’t handle one more gimmick. I can’t handle one more big change. It’s difficult. And so I think knowing the fundamentals, because I know people who make big money just using a yellow pad for their CRMs still, and some of these people are big names, and I don’t think he’d mind me saying, Adam Johnson, Leon Johnson’s son, he does a lot of deals just using a yellow pad. Courtney Frickey, she has her paper leads that she keeps in a file and only goes through them if she needs to. So a lot of these gimmicks just really aren’t the real deal. The real deal is not necessarily what software you’re using, it’s where are we in the market, are there more deals than money or is there more money than deals?


Those are really the main two shifts that if you pay attention to those in the market, you’re good. And people was like, oh, I do this with AI and I do that with ai. I haven’t seen AI do anything really amazing except for Google search type stuff. I mean, I’ve listened to the AI calls and they’re still not that great yet. And I keep hearing people say, oh, AI is going to be doing our acquisition management soon. Well, yes, true, but when I haven’t seen it yet and still, which problem is it solving the low money problem or the low inventory problem? And right now I think it’s market to market. It’s kind of like mushrooms and in certain markets we still have an inventory problem and other markets are more of a buyer’s market and we have more of a money problem. So you have to take it market by market, city by city and see which problem are you solving. Those are really the main two problems in real estate. And what I’ve seen is everything else is a marketing gimmick. As someone who does marketing myself, we try to repackage it to get people’s attention, but it’s kind of all the same stuff.

Speaker 3 (15:59):

Yeah, no, that makes sense. So would you say then the people like Adam and the people like Courtney, are those three things that you mentioned before consistent solve the problem for today and then the media and the messaging is that their key to success and as long as they’re consistent doing, what’s really is that or is there something that makes them different just because they go out there, and I love how you said with their CRM is a yellow legal pad, it’s none of the fancy stuff and all that where a lot of people get trapped in that rabbit hole. So that’s where my I’m wondering, yeah,

Speaker 1 (16:31):

Courtney’s really consistent on Instagram and she gets a lot of referrals. And Adam’s been in his market for 20 years, so he gets a lot of referrals. So you talk about consistency, it’s decades of consistency in Adam’s case, and Courtney has been doing it I think for 10 years, and she really gets out there in terms of, she speaks in front of realtors groups, she speaks at rhe, she holds her radio show, and she’s very consistent in her branding. She doesn’t just show herself boating on the weekend or shopping or whatever. And if you look back through her Instagram, you can see that in the past she did have more of showing her personal life. And Connor Steinbrook taught me, don’t show your personal life, just make your entire page about business. But there is one caveat to that. You don’t want to look like one of those VA generated pages where there’s no real person behind it.

Speaker 3 (17:23):


Speaker 1 (17:24):

Looks like a VA just runs my page and it’s just my VA who does everything. So I do post pictures of my family and going to the gym, and if I do go on vacation, I do post that. But too much of it makes people think you’re not available for business. So I would say the golden ratio that I’ve discovered is about 90% business and 10% personal, just to add that speckle of reality that you are a real person and not a va. And I think Courtney does that very well on her Instagram for example, and she doesn’t even have to spend money on marketing. She told me she doesn’t do that anymore. She’s a hundred percent referral based now and it’s taken being consistent

Speaker 3 (18:04):

And she does a lot of creative deals or that’s all she does is the creative type deals. She

Speaker 1 (18:10):

Does kind of everything. I know her to do flips, I know her to do. She’s mostly a buy and hold investor and she will do creative when she needs to. But I think I’ve had a lot of clients come to me over the years and try to curate a marketing plan where all we do is creative for them. And that is really tough. You’re going to have a low ratio of being able to do that. Typically creative should be something that comes organically from time to time. If you make that your only goal, and this was a guy with a lot of money, by the way, the one I’m thinking of. He had so much money, yet he was super focused on just doing creative. And I understand if someone has no money and they’re just focused on doing creative, but they get it in their head that this is the way to do it and there is no the way to do it.


You have to just solve the problem of the current seller who wants to sell, whether it’s a listing, whether it’s innovation, whether it’s a flip, whether it’s a wholesale, whether it’s long-term buying hold subject to seller finance, and anything else I’m missing in there. It shouldn’t just be, oh, I’m going to pull this list and I’m just going to do ovations or I’m going to do this campaign. I’m just going to do subject two. You need to just be able to solve the seller’s problem and just start with one, this is something I’ve taught for years. Just start with one exit strategy that you’re really competent in. And then once you master that, expand from there, and like you and I talked about, it’s who not how you don’t have time most likely to master all of those. So have a referral partner that you can build a relationship with and trust for innovations for subject to maybe even for seller financing or maybe master two, but mastering all of the above would be insanity. Even if you had been doing this for 50 years like Leon Johnson, that would be insanity. So be ready to leverage joint venture partners that you can trust with the right paperwork behind it. Of course.

Speaker 3 (20:02):

Would you say that if you go down that road, can you build a business like that? Meaning where a business is systems and other people where eventually you have a business that runs itself or runs it with the people in the processes you’ve put in place. It seems like with real estate, like you’re saying, I have to solve the seller’s problem right then and there. So it almost sounds like you need at those higher level people, you can’t just get the McDonald’s line worker that’s there or the robot or AI or something like that. That’s

Speaker 1 (20:33):

The challenge that I’ve run into. And I feel like conceptually it can be done, but then in psychology we have something called channel factors, these little things that get in the way of what sounds good on paper. And that’s usually where the human element comes in because I have staff of 180 people in my agency and I’ve learned little tricks to managing them. For example, this is going to sound weird, I don’t do company meetings because I just meet with them as I need to. I do spend a lot of time with them upfront, maybe a few hours, and then I never talk to them again except to tell them when a job has come in. And if they need more than that, they’re probably not a good fit. And I don’t do group meetings because I’ve had them all group up against me in the past to raise wages, basically wanting to unionize whenever my clients can’t afford that.


And I said, I’ll let the whole company burn down before I let you extort me in this way. And I did. And I did it privately. I didn’t tell anyone. I didn’t go public about it, but I just stopped the company for six months and just traveled. And it’s like I have plenty of money. And then they were suffering. And then once I was done traveling, they were like, Jen, please, please, I’ll come back. So who would think that there’s a human variable of needing to stop people from organizing against you, or it’s like Adam Johnson says, you have to make sure that you’re always in the way of a deal in order to get it done. So that’s why you can’t fully replace yourself for the most part unless you sell the company, is because at some point somewhere you need to add value. And yes, you can have an integrator, and yes, you can have a CEO, and yes, you can have a CFO, et cetera, but if you notice even in a C class corporation, you still have shareholders.


The shareholders are still in the way in some way because they own a part of the company. So no matter what, you have to make sure that you’re in the way of other people just taking over completely what you do and just pushing you out. And so that is the challenge. That’s where replacing, that’s what no one talks about. Everyone wants to sell these sexy business models where you’re just on the beach or whatever, but at some point you have to put yourself between yourself and someone else to make sure you’re still adding value or you’re just going to get pushed out. So another example is, I mean, you can just live like my older gentleman, friends who just own a bunch of mutual funds and they don’t manage anything. They just collect checks from the dividends, but you have to have millions in order to achieve that.


Lemme tell you, those are the people who have the most passive income that I’ve seen, and I know this is an REI podcast, but what’s great about real estate is you can start with a relatively small amount of money and then with appreciation, leverage that into millions, and then you can become the mutual fund, the note owner or your kids can get your portfolio, but it’s not as passive as just having your mutual fund dividends come in and as know the stock market goes up and down where rents typically, there’s not as much fluctuation in rents as there is in the stock market. And so all that being said, going back to what you asked, whenever you’re managing staff, there’s just going to be all these psychological factors that are not going to present themselves on paper with your staff is always the biggest challenge in running a company.


And so that’s why I don’t do company meetings because that’s whenever people get together, and pardon my language, I think it’s a poignant word. They start bitching and then that causes morale issues. All it takes is one person to start griping and then morale goes way down. And I don’t care how well you run your company, I don’t care if you are like you have in the background, I don’t care if you’re Mr. Rogers, as soon as someone starts griping and it takes hold, it’s game over. This doesn’t work if you run a brick and mortar business. But I have doctor friends, for example. They run brick and mortar businesses, and one of my doctor’s friends two weeks ago, his entire staff just walked out. They’ve been with them for 20 years and they couldn’t have organized like that if you keep them separate. If you’re running a virtual business, that’s one of the benefits is you can manage your staff. And I tell you, that has made my income extremely passive.


So if you take nothing else away from this by keeping my staff separated, I have generated true passive income for myself because all I do is bring the jobs, bring the clients, they work the clients, and then they do a good job and then I’m out. The only thing I have to do is keep bringing in new clients because there is always going to be some small amount of attrition no matter how good of a job you do for various reasons. So yeah, if you have a virtual business, keep your staff separate and that way they’re not coming together. And it’s amazing how peaceful things are. I have no drama. I have no complaints. I’ve known go well. so-and-so did this, and so-and-so said this, and so-and-so gets paid this and I want to get paid this. It’s like I have literally zero drama in my agency with my staff now, and that has just been amazing.

Speaker 3 (26:03):

Yeah, that’s the first time I’ve heard it put like that of keeping separate in that you don’t run meetings and you don’t get them together, which is very anti, a lot of the books out there and a lot of those systems and stuff that have the organizational meetings and that type of stuff, level 10 meetings or the level 10 meetings and all that, that goes along with it. So I love hearing a contrarian viewpoint, especially for someone who runs a virtual business like that and who’s gone through almost like you said, the utilization of that type of stuff. Yeah, I’ve been this for

Speaker 1 (26:37):

Six years, and so that’s enough time to where you’ve passed some task, kissed a lot of frogs and had every problem under the sun.

Speaker 3 (26:44):

Yeah, yeah, no kidding. So that’s very interesting. Well, this has been a lot of fun. I love the answers that you’ve given. I think there’s some really good value there too with being consistent, solving today’s problem and getting it out there, being consistent of getting out your message as well too. I also like that what you just went over that was so contrary to what other people say. That was really an interesting take. I want to, and I

Speaker 1 (27:10):

Would bet you my headaches are much smaller than theirs,

Speaker 3 (27:14):

Probably. Probably. I mean, well, most people have the headaches in business, and if you just have less than them that it probably wouldn’t take much if you just had just that many less. So that’s great. I love hearing that. What I wanted to talk

Speaker 1 (27:29):

Authentic draws better clients too. I did want to share that because I know I went on a bit of a rant and a ramble about that, but let me be pointing on one point is that by being my real self, David against my business advisor’s advice, the clients I have now, I have no drama with and I don’t know why I’m not smart enough, I guess to know why. But the ones who come to me whenever I’m going through times of being very authentic and just really sharing whatever it is, whatever business problems or personal problems that I may be facing and how I’m overcoming them, I get so many people, like you said, who may not do business immediately and it scares off a lot of people. But the clients who do come to me, we have no problems, no drama. They don’t blame me for a lack of success.


They just come in, show up, close their deals, and they stay long-term customers. So that is one benefit is I get fewer clients, but the ones that I do get, I have zero drama with, and we’re so simpatico that I work hard to make sure they’re successful and they don’t. Whenever I was being inauthentic and getting a lot more clients, we don’t have meetings about Jennifer, why am I spending this money and not getting any deals and then this, and they’re just being very nitpicky, but clients where I’m my authentic self, they come in and they just close deals, David, we don’t have to have awkward meetings that make me feel like crap about myself, feeling like I’m not really actually helping anyone and I’m just charging money and nothing’s happening for them. They come in and they’re like, Hey, Jen, I did this deal. I did this deal. Your staff is great. And so that was a crazy change to me. I thought, this is self-destructive behavior being this authentic, but I just felt compelled to actually help people. And then these clients are the most low maintenance clients I’ve ever had. So I would be curious what your take is on that in terms of why is it being authentic? First off, it’s interesting. It draws in less clients, but the ones that does draw in, I have zero drama, zero problems with, and they stay with me forever,

Speaker 3 (29:36):

Which is funny because what you’re describing now is in those books that tell you to have the meetings, it’s like it’s your core values. It’s the values that are shining through that. It’s people that resonate with you as a human being. So usually they’re going to be the ones, especially if you’re being authentic and being open and honest and sharing values that are just as a society, we look at and say, it’s mature what you’re doing. You draw those mature people in, so it’s like they’re going to be the ones that sit back, they do the deals, they get it done, and then they come to you and they be like, yeah, let’s keep moving forward. And that’s the low drama because projecting that out there as well too, just from what I can observe right there. But I really like that because very much of if you’re going to be yourself, you might bring in less, but you might bring more of the people that you want to work with. That’s what I took away from makes income

Speaker 1 (30:26):

More passive because that is always my goal. Low drama staff, low drama clients where we’re just doing deals. I’m providing excellent staff who are going to make sure that you’re getting in front of as many people as possible for as little money as possible, talking to those motivated sellers, getting good prices on data, getting good prices on your loans to close your deals, and just keep it simple. There shouldn’t be any insanity. There shouldn’t be a lot of complaints and craziness. And that’s not to say there’s never problems, but when there are, it’s like, Hey, Jen, we need to have a meeting because this caller’s gotten a little too lax and they’re just becoming too rote and they’re going through the motions too much. I had to have that call three months ago, but guess what? He didn’t leave. He didn’t blame. He said, Hey, let’s just fix, let’s just fix their script.


And so I told her, I said, Hey, you’re one of my best, and maybe you’re working too long hours. Maybe you need to take more breaks. Maybe we need to load you up with fewer clients because instead of listening to the seller, you are kind of just pushing through the script. I said, someone who started out cold calling myself, I noticed I would do that towards the end of my shift. And I said, so let’s just be aware that that’s what’s going on. But I didn’t blame or shame her. I just said, Hey, because I was sitting in that seat myself for so many years, David is a cold caller. I know what problems they face, and it makes me a better manager for them. And just say, Hey, it just sounds like you’re getting a little tired. And so take a 30 minute nap, take an hour nap and come back and you’ll see how all of a sudden, instead of just pushing through a script, you’re really an active listener.


But that’s the only problem client meeting I had to have in the last six months where before God, David, it seemed like it was every day. People were just pinging me with this is a problem and that’s a problem. This is a problem. And I think that’s what led to my heart attack last year at 38 years old, was just having all these clients with all these complaints and it was just driving me crazy. And now I don’t have any of that. And so just sharing my experience, whether it’s true or false or somewhere in between. It’s just my anecdotal experience.

Speaker 3 (32:36):

Well, no, that’s really good. I wish we more time, but I’m going to land the plane here. We’ll have to do another episode too about how you got through that and coming out on the other side. But if people want to get ahold of you for your cold calling and what you’re doing there and how would they get ahold of you if they want to start to work with

Speaker 1 (32:54):

You? Yeah, whether it’s the cold calling or like I said, the loans where we’re offering a hundred percent financing on both the rehab and purchase price. If they’re my cold calling client, they can just email me at jen, JEN at rre I data source.net. I’m also a really brave person who gives out my cell phone because as a cold caller, I’m not afraid to call you. You

Speaker 3 (33:18):

Can call me,

Speaker 1 (33:19):

I may think you’re a spam call and answer a little bit briskly, but my cell phone is (469) 952-8011. Feel free to call me there or Jen at REI data source.net.

Speaker 3 (33:32):

Cool. So that’s how you could get ahold of Jen, and that’s the email. And she gave your phone number as well too, so you could call her in and say, Hey, hey, just wanted to see if you answer the phone. I’m sure you will. Like you said, who does that? Right? Who? Their cell phone. Cell phone. And then who does that? And then actually answers too. I feel like today’s age, please go to voicemail. So that was good stuff. Lots of valuable information here, stuff that you could take and I think implement right away to become these type of people out there that are consistently successful. And that’s one of their keys to success is being consistent in solving today’s problem, building the message around that as well too. I really liked your insight of the type of client you draw in when you are your authentic self versus where you might get more, but it might be more headaches if you are not. So it’s like just lots of good practical things today. So that was a lot of good stuff. Thank you for sharing, Jen. I really appreciate all that you did here today.

Speaker 1 (34:26):

I appreciate it. David, thank you so much for having, thanks for asking great questions.

Speaker 3 (34:30):

And I wanted to say too, if you’re listening to this and you’re like, oh my gosh, I’m not making enough or whatever, first of all, call Jen, you can literally call her. She gave you her number. She can help you make more money if you need to keep the money too. If you’re like, I have no idea where my money’s going, don’t know what my overhead is, don’t know how much I’m making, how much I’m keeping, or I want to keep more, you can reach out to us@simplecfo.com. We want to help you get at least that stuff in place because if you don’t have any idea, you’re not running a business. So that’s where I want to help you at least be consistent in knowing where your money’s going too. That’s another consistency factor as well too there. But Jen, again, thank you so much for coming on and sharing, and if there’s anything that you need from Jen, you know how to get ahold of her. She gave you the email address and her phone number. Again, thank you so much for coming on today.

Speaker 2 (35:17):

This episode of The Profit First for REI podcast is over, but there are plenty more where that came from. Are you ready to learn how David and his team can help implement the Profit First system in your business? Schedule a discovery call@simplecfo.com right now. We’ll see you next time on The Profit First for REI podcast with David Richter.