00;00;00;00 - 00;00;23;11

Unknown

Welcome to the Profit First for Real Estate Investors podcast. This series is the simple CFO Case Files, where our CFOs break down real client scenarios, financial systems and practical decisions from inside the business. Enjoy the episode.

00;00;23;13 - 00;01;01;10

Unknown

Hey everyone! I am super excited about this because we are starting a new series together, Christina and myself, where we already meet on a weekly basis. Christina is my business partner, Christina Gutierrez. You might already know from the CFO Case Files, and this is kind of a continuation of that. We're going to just put out there some content around what we see all the time as the owners of this business, but then just business owners and business partners and just all the things that come with being business owners and especially being able to see the back end and the finances of so many different companies, I think we have a lot of insight to give,

00;01;01;10 - 00;01;20;07

Unknown

and I think it's going to be something very valuable for you if you're listening to this. So we actually have the same page meeting every week, Christina and myself. And if you're wondering what's the same page meaning? Well, we run off of traction, the book traction and the EOS System Entrepreneurial Operating System by Gino Wickman, who wrote the book traction.

00;01;20;07 - 00;01;37;17

Unknown

And that's how we run our whole back end operations. And one of the meetings that's in that structure is the same page meeting where you, the owner or the visionary integrator or whoever your second, you know, your right hand person is you have a weekly mean to make sure you're on the same page. Go figure. That's the name of the meeting that we have.

00;01;37;17 - 00;01;55;23

Unknown

And so we are going to do some recordings after our same page meetings just around relevant topics for today or things that are on the top of mind, whether it's clients that they're bringing this a lot of issues or if it's other people or the marketplace, whatever it might be. So we've got a good one today and we'll go into that.

00;01;55;23 - 00;02;18;13

Unknown

But Christina, how are you feeling today? I'm feeling great. Great. The middle of the week. There we go. Yeah, we're recording this on a Wednesday, but this is where we want to just provide extra value. We were already meeting. It's like we might as well just talk about some of the stuff that we're already talking about and be able to share this and share this knowledge with other people instead of just keeping it all internal.

00;02;18;15 - 00;02;37;28

Unknown

So I'm excited about this. Christina, are you are you excited for this this series that we're going to be doing? I mean, yeah, I'm excited every time we get on the phone together because I, I was introduced to iOS, so I feel like I've come a long way with like even being being open, being transparent, being able to talk about things.

00;02;37;28 - 00;02;58;08

Unknown

And I never realized the importance of it because, you know, never been a partner with someone before you. So you usually had a boss that like, would look over you, walk past you, didn't fill you in with what was going on. And as you know, as a CFO, as I had person at a company, you want to know, like you want to know what's going on with the company.

00;02;58;09 - 00;03;17;18

Unknown

Is there something that I could help you with? Is there something that could make the company better? And then nothing ever happens. So I love how you and I can sit down and we can say, how can we make this company better? Let's talk about what we're seeing from clients, what we're seeing from CFOs, any issues, any great things that we see that we want to do more of, and then we can talk about how to implement it and how to make it better.

00;03;17;18 - 00;03;43;23

Unknown

So we have really good ideas that we can bounce off of each other. And this is my favorite meeting of the week. Awesome. Hey, hey, you all here. Heard it. Here I am, one of her favorite. I know she said her favorite meeting of the week. I'm going to take that mantle there, so I love that now. And now we get to bring that to you as well to listening to this, because that is so key that so many businesses don't have great communication.

00;03;43;23 - 00;04;19;01

Unknown

But right, communication really is the thing that makes the world go round. If you're a great communicator, usually you have great relationships in your personal life and your professional life. Life really is about being able to communicate. And I think that a system like iOS really gives you a structure that makes sure that the people that need to know, know, like if you have an organization and you have more than just yourself, even if it's 2 or 3 other people in the organization, at least gives you a foundation and a structure to keep the people on the same page and to have these types of meetings.

00;04;19;03 - 00;04;45;25

Unknown

Because this is just one meeting we have throughout the week. It's Wednesday, Wednesdays, a heavy meeting day for us. We start out with meeting with all of our CFO team in the morning, and all of the bookkeeping team as well too. And that's kind of like a town hall where sometimes we'll do a fun meeting. Lots of times it's training and internal training because we do not want to fall behind the curve like we want to make sure we're doing what we can to help our team and grow our team as well, personally and professionally.

00;04;45;27 - 00;05;10;10

Unknown

We also have an operations meeting this day. We have a marketing and sales meeting on this day. Right now, today we're doing the same page. Usually that takes place on Monday, but we have other meetings as well. We have a finance meeting. We have a level ten meeting on every single Friday as well too. So this helps especially and when I say this like a system like us helps as you grow and as you scale, because you can start having these types of meetings.

00;05;10;10 - 00;05;29;12

Unknown

Because then what the bane of my existence as the owner visionary like, the more I guess the visionary role is that I hate the God of minute meetings. And it's like if I'm trying to do a deep thinking session and I'm really like in the middle of something, but you're constantly getting bombarded with, hey, can you help me with this?

00;05;29;12 - 00;05;53;29

Unknown

Hey, can you do this? Hey, hey, what do I need to do here that will drag down the visionary a lot to be able to say they can't live in that visionary state then very long. And that's. You got to get into that flow state to have the good ideas. But at the same time, you also have to have someone like Christina who says, yeah, that's a great idea, we should do it, or that's a great idea, but what's do it next quarter or like, let's do it down the road.

00;05;53;29 - 00;06;12;04

Unknown

So there's that portion of it. But having an outlet like iOS to put it where sometimes I have a great idea and I have to say to myself, which meeting does this need to go on? Like, which meeting do we need to bring this up? Right. Yeah, that's something that's really helped us, I think. So we just wanted to bring as an introduction here.

00;06;12;05 - 00;06;32;15

Unknown

This is when we're doing this podcast recording is at our same page. That's a little bit of the structure of how we run the business is with the iOS system. We'll go into that more in depth, probably on another episode as well too, because that we could probably take Christina several episodes just going through how the system works and operates for us and for other people, but we just want to give a little foundation.

00;06;32;15 - 00;06;52;21

Unknown

But one of the things that we're coming up on the same page mean today was how many people have walked through our door and said, I wish I would have known this. And this being like the finances and clarity, and whether it's profit first or the numbers or whatever it might be ten years ago, five years ago, whatever it might be.

00;06;52;21 - 00;07;14;10

Unknown

And so we're going to talk about that a little bit today. So I'm going to I know I'm talking a lot here, but I have a very recent example of this that has happened. And one guy came to us probably, I don't know, six months ago any we got on a call and the guy's hair was a little bit on fire.

00;07;14;11 - 00;07;30;10

Unknown

Like literally I had to put it out through the screen and like, pat his head because it was just like what's happening in the business. And he said that we had actually had a call like two years before, and I did not remember this at all. And he said, yeah, we got in the call two years before we didn't move forward.

00;07;30;10 - 00;07;51;15

Unknown

And, you know, like now we don't know our numbers. Everything's a mess and someone's looking to buy our business. So do you think you can help us like in the short term to get our numbers cleaned up. And he's like, we really should have moved forward a couple of years ago because now we'd probably be worth a whole lot more, and the offer to bias would be a whole lot better.

00;07;51;15 - 00;08;13;26

Unknown

And that to me, my heart was bleeding for him on that call because my yes, yes, indeed, it probably would be a lot better because for the last year, I think it was something like the person that was in that seat or something was really, really wasn't doing a great job, wasn't keeping this stuff up to date. And they weren't they didn't really have a great handle on the numbers in the business, and they didn't get to where they wanted to.

00;08;13;27 - 00;08;38;06

Unknown

But I hear that a lot that a lot of people wish they would have known. Or when I speak on profit First, they wish they would have known that system was even out there, you know, like a lot earlier as well too. And a lot of people just. Do you see that, Christina? Have you seen people, whether it's our clients or whether it's people out in the marketplace, just that they wish they would have known the clarity around the numbers and what the power of the numbers provides to them.

00;08;38;08 - 00;08;59;09

Unknown

Yeah, absolutely. And I think it's they just don't know what they're looking for. And I think that's the biggest issue because like, oh, well, I have a bookkeeper or I have a CPA because I have to I have to file taxes. And then what is your CPA ask for for books. And some people don't have bookkeeping. They just give them give their CPA a box of receipts at the end of the year.

00;08;59;13 - 00;09;17;15

Unknown

But when you flip houses or you're involved in real estate, like everything's a property and you you can't keep up with that. But I think it's the lack of knowledge of like, who actually can help me with what I'm trying to understand. And not only do they not know what they want, but they have all these thoughts of like, should I get a partner?

00;09;17;16 - 00;09;35;25

Unknown

Should I add money to my business? Should I get a loan for this? How should I do these things? And they're not going to ask a bookkeeper because they don't know. They're not trained for these specific strategic things and then they're CPA. Most CPAs, I'm not going to say all, but most CPAs are not really going to do that either.

00;09;35;25 - 00;09;52;09

Unknown

They're going to say, give me your stuff and let's do your taxes. And a lot of them don't really know strategy around real estate either. So when our owner sits and thinks like, well, I really could do this or I really want to start holding rentals, I really want to start, or CPA says you should hold more so you have a tax offset.

00;09;52;15 - 00;10;11;16

Unknown

They don't know how to do that. How do you go from flipping and getting a big paycheck if you don't have any money, or you don't have a lender to then starting to hold it because you're not getting any money when you're holding it so you don't turn any type of profit, you're just stuck holding a property. So these like specific strategic things.

00;10;11;17 - 00;10;33;00

Unknown

An owner has even told me, like I didn't know. I didn't even know a fractional CFO existed. And I knew I didn't have the money to hire CFO in my business. Because when you look it up, if you go Google how much a CFO makes, you're going to look at like 250,000. No small business owner is going to think anything about, I'm going to go.

00;10;33;02 - 00;10;56;03

Unknown

I'm going to go hire this person. That's never going to happen. So they had no idea any of these fractional positions existed. And I still have people that are like, okay, so your CFO, what are you going to do for me? So when we break it down and let them know, like this is like some serious strategy and it's not just someone sitting there saying, I think you should do this, this sounds good, which is really what they do.

00;10;56;04 - 00;11;12;07

Unknown

It's this is the what do you want to do? How much is that going to cost you? What does it look like? How many people do you need on your team to do that. So we go through all those real questions that they would never really even know to ask themselves. And sometimes it's not even a viable option, and sometimes it is.

00;11;12;08 - 00;11;41;00

Unknown

And you just need the accurate steps to get there. So people that think, I want to grow my business, I want to add another person. I want to do this. They need that strategic advice to know those steps to take to be able to make like a solid decision for their business. And that's why people say, I wish I would have known this, because those are people that I've heard that actually went bankrupt, started another business, bought a partner out, but did it incorrectly, and now owe their partner a ton of money that they should know them.

00;11;41;00 - 00;12;10;09

Unknown

Money, you know it's right. They make like these decisions that you're thinking now and your boat is like underwater. And now you found out about this new fractional CFO. And now you have all this new information and we're trying to pull you out of the water, for lack of better ways to say it. I think what you hit on to is like the magic source of a fractional CFO is being able to pull the questions out that you don't know to ask, because that's usually the most dangerous thing.

00;12;10;12 - 00;12;30;23

Unknown

Just in life is the things that we don't know, but that are true. Like your business is going down, but you don't know the questions to ask in order to know if it's really going down and how many people have walked through our door. Christine. Me okay, even within the last month who have said, I don't even know if the business is viable at this point, like, should I keep going?

00;12;30;24 - 00;12;49;21

Unknown

Because I just don't know. I don't have that clarity. So sometimes people know they need something, but they don't know what to ask. Which was a great point, and I honestly think is like, why we're going to be in business till the end of time and why a fractional CFO? Because that's something that a person can give you versus just like an AI system or something spitting out.

00;12;49;21 - 00;13;19;26

Unknown

It's like talking with that person. But then on the flip side, I think that you brought up something else as well. It's the questions that they do know to ask, like they're asking, but they're asking the wrong person, like they're asking CFO level questions of their bookkeeper or of their CPA, but then their bookkeeper or CPA does not answer them, because that's not their field of expertise, because the owner ask business management questions, but a CPA and a bookkeeper look through it.

00;13;19;26 - 00;13;50;11

Unknown

Only the financial management piece. They don't look at it as the whole picture of like, okay, if I make this decision, how does this affect everything else in the business? Or if I make this decision, how does this affect like how this flows into our reserves or our personal finances or into, you know, these other areas where you might be asking a great question as the CEO or the owner of your business, whether you're just a one person team or a 10 or 100 person team, you might know to ask some good questions, but you're not getting any straight answers from anyone because you don't have the right person.

00;13;50;11 - 00;14;08;06

Unknown

They're on your team as well. That's where a lot of people come in and they're like, I've been asking my bookkeeper for this for like the last year, and I've never gotten like within the first month, I was able to get this answer, you know, like within the first 16, 90 days. Like I finally got some of this clarity that I've always been looking for.

00;14;08;12 - 00;14;42;24

Unknown

Some they just didn't know. Like you said, they didn't know a fractional person was out there, especially on the financial side. That's let's be honest, Christina. That's usually the area that the people that owners don't love the most. Like they just think accounting numbers, someone else can handle that. But then when they really want to become a great business owner, they start to ask some of the business owner great questions of like, okay, how much should I reinvest and how much should I put into this, you know, to this project or how much until I can hire another person or what is my next best move when it comes to the finances?

00;14;42;24 - 00;15;02;08

Unknown

How much should I have in reserves? And they're starting to ask good questions like that, but then they have no answers, and then they're still just running on their gut feeling. And something that I've hit on recently as I've been teaching. And because I teach a lot when I go out and speak or do it virtually, is that if you're listening to this as a business owner, you should be a master of money.

00;15;02;08 - 00;15;20;10

Unknown

And but you're afraid that means you'll need to be a master of accounting. And that's not true. You do not have to become the bookkeeper, the CPA, the person that files the tax is the person that puts everything in QuickBooks. And honestly, even the one that has to translate everything off of the financial statements like, you don't have to do that stuff.

00;15;20;10 - 00;15;35;16

Unknown

What you need to do, though, is be able to have numbers. To make decisions, you need to be a master of your money, whether that's the cash in your business, being able to say, okay, how are we doing it from a cash perspective? And then number two, how are we doing from an actual numbers perspective as the health of the business?

00;15;35;16 - 00;15;51;11

Unknown

So that would be like the two major things that and that's what we want to help you with through this podcast, through all the materials that we're doing. And then obviously if you need this help you can go to CFO. Com I think if you're watching this, I can even throw a little QR code up here. Look at this I love this thing.

00;15;51;13 - 00;16;07;23

Unknown

We're using StreamYard as our platform. And I found this like a month ago. And now we can do QR code. So if you're watching this on YouTube it's there. If you are listening to us, I can also do this simple CFO. That's where if you go to that site, we have a big button that says book a call with us.

00;16;07;23 - 00;16;22;22

Unknown

So if you're feeling that way, like I needed this ten years ago to be able to know my numbers, I want to be able to actually keep more. I would highly encourage you. You can just reach out to us. We're not going to be pressure sales and like push you in the door if it's not right for you.

00;16;22;23 - 00;16;40;12

Unknown

We don't want to do that. There was another guy. It was okay, I'm still I'm hogging the mic too much. I should point it back to you. But there was another guy that I talked to very recently where he's been in real estate for ten years, and I, he said, I do not want my next ten years to be a repeat of the last ten.

00;16;40;13 - 00;16;58;17

Unknown

He's like, they've done a great job, they've built a great portfolio, they've made money. But he's like, I don't feel like I got closer to freedom. I don't feel like I had actual cash reserves. I don't feel like I had these things in place. And that was one of the reasons he said, like, I don't want the next ten years to be like the last ten years.

00;16;58;17 - 00;17;22;22

Unknown

So if that's you reach out to us, we'd love to help you. But this is where, like a tag team like us, like I'm much more the visionary and Christina is much more CFO integrator boots on the ground and has seen a lot of this take place behind the scenes. And she she even echoed here that a lot of people that they either do know the questions to ask and they are not asking the right person or they don't know the questions to ask.

00;17;22;22 - 00;17;49;02

Unknown

And that's where the real magic comes into play. So anything else on that, Christina, on this topic that you want to say? I think the biggest thing is you're asking your bookkeeper and CPA and honestly, like they don't know you like your bookkeeper is filing your books by transactions that come across your bank. Most people don't talk to their bookkeeper a time and your CPA, you might meet within year if you do a planning, but if not, you just give them their stuff.

00;17;49;02 - 00;18;09;03

Unknown

They do a tax return and they want you to sign off so they don't know you. And the biggest thing about like, let's be honest, like you used to be an owner by yourself, I've been an owner of my own business. It can be lonely. Very. You don't have people to run numbers by. You don't have people to talk through your goals, your aspirations, your issues, why you even started the business.

00;18;09;03 - 00;18;30;05

Unknown

So when you have this, this CFO, it's like you gain this trust, you gain this relationship. Like they become your right hand person and you can go to them and ask them anything. Like, that's what we pride ourselves on, the fact that we're there with you every step of the way. And I think that's what it is like when you ask your bookkeeper and your CPA these questions, they don't know you.

00;18;30;05 - 00;18;52;07

Unknown

So even if they answer you, it's a it's a textbook answer. It's a transitional answer, not a relationship, not a oh, you know what? When we talked in February, you did mention that. But you've been working on this. And when we ran some numbers, we think it's better to go this route. You know, you can actually like start to, to spit it out, to digest it, to think more about it.

00;18;52;08 - 00;19;10;25

Unknown

Sometimes things don't work the way that you want them to, but it's because you have concrete data to back it up. You're not just saying now it's not going to work. I don't think you should do that as a CPA or a bookkeeper. Wild thing. A bookkeeper or CPA might be doing it too, based on well, if you shut your business, then you're not going to be able to pay me, right?

00;19;10;26 - 00;19;32;06

Unknown

And I'm going to fire your returns. So let's figure this out. You know, and that could be the case. Whereas you're a partner that is a CFO can actually say, let's work through this. Let's talk about what you really want. And if you can figure out that ultimate decision based on accurate data. So it's nice to have the person to bounce those questions off.

00;19;32;06 - 00;19;48;21

Unknown

Like that's the relationship that I build with all my clients. I just I am we say like just very easy to talk to, very open. It's not just about strategy, it's about having that person that you can sit down at the end of the day and have an honest conversation with about money, which is very hard to talk about.

00;19;48;23 - 00;20;06;28

Unknown

Yeah, exactly. And that's what we want people to feel, feel safe talking about the finances, whatever they need to whatever questions. Even when I do orientation with all new clients, I train all new clients that work with us on like how to get the most out of their fractional CFO. And that's one of my biggest things, like be open with them, be honest.

00;20;06;29 - 00;20;24;26

Unknown

Like we're not here to judge you. Like we need all the data from you of what you're thinking, of what you're feeling. Money can be emotional, like just talk about it so we know what's really going on in your brain, so we can really help you get to where you want to go. And Christina, you've mentioned this before, a great fractional CFO meet you where you are.

00;20;24;28 - 00;20;45;15

Unknown

And it really is a financial partner in your business, not just a vendor, not just another person. Like you said, they know you. And I really like what you were saying there. It's really the difference between a transactional relationship versus a relationship. You know, like an actual something where you get to know the person and know, okay, like you said months ago, here's what you told me your goals were.

00;20;45;17 - 00;21;02;09

Unknown

We're back. Then ask the still your goals. Yes. Well, the decisions were making aren't going to get us to that goal. So we need to do something different or we need to do better here or we need to. This is we need to look at it from this angle and being able to have that person, that's where we want to just let you know that these people are out there.

00;21;02;10 - 00;21;25;28

Unknown

Obviously, for our sake, if you're listening to this, we run this type of business or for actual CFO business, but these are becoming more popular, not just on the CFO side, but maybe a fractional COO or a CMO cough, like chief chief operations officer, CMO, Chief Marketing Officer. So there's people out there where you can pay for high level help without the price tag.

00;21;25;28 - 00;21;42;28

Unknown

That just says, what the heck, there's no way I'll ever be able to afford this. No, there's a lot of things like that. So, Christina, one of the questions that we'll probably be getting from this episode, if you people listening, is when would be the right time to reach out? You know, like for a fractional CFO and we have several different levels.

00;21;42;28 - 00;22;03;12

Unknown

If you're making at least 100,000 to 500,000, we have a smaller tier program like 60 days where we're building a financial foundation for you, getting profit, first up and running, building a dashboard, making sure your books are all in order and you've got the right pieces there. On the bookkeeping side, sometimes if people bring their bookkeepers will actually just manage their bookkeeping team.

00;22;03;13 - 00;22;23;26

Unknown

Like, you don't have to use our bookkeepers even though we have them. We just want to make sure your CFO is guiding you. And then if you're above 500 K in revenue, then usually there's ongoing, like that's when we become more of the financial partner, like we're there with you on your team as a leader to guide you, the owner, where your CEO, this is CFO to be like, yes, I love your ideas.

00;22;23;26 - 00;22;42;17

Unknown

Let's make sure the numbers back this up. Or like that's a great investment, but let's just see if we don't like how long should we let this go before we need to see a return? Like just asking one follow up question. You know, to most owners, you know, their ideas will help you as an owner, protect the thing that you've worked so hard to build.

00;22;42;17 - 00;23;02;06

Unknown

And that's really why we're here, is to protect it. But then also, Christina, you've mentioned this. We play offense and defense, so we are there to make sure you protect yourself. But then how do we make sure you're growing how you want to as well. So do you have anything to add on that. Yeah I mean we said a lot I did I did lots of there.

00;23;02;06 - 00;23;22;13

Unknown

So that's where it's being offense, defense, being proactive not reactive making sure that you're set up to be successful. Same type of it's just having data to make decisions because I don't know I just feel like, you know everyone when you I think you said earlier like everyone thinks that neck seal is going to get them to the next step in their business.

00;23;22;13 - 00;23;44;22

Unknown

They need more revenue, they need more money to come in. And cash is king, right? Cash is king of the business. But if you're just not managed, doesn't really matter. And if you're if you're in statements as you made, you know, $1 million this year, but you kept nothing or you still operated at a loss, like that's a serious problem that you might want to pull apart the income statement and figure it out.

00;23;44;22 - 00;23;59;14

Unknown

And it could be bad bookkeeping, too. So you just never know. Some people are like, they come to us and they say, I wish, you know, we say, you've heard it before. How much money did you make this year or last year? Where are you at? I don't know because I don't feel like I can trust the books.

00;23;59;16 - 00;24;20;25

Unknown

I'm looking at it and I feel like I made money because there was I made a lot of deposits, but I have no idea what's there and what's happened. And that's that's what I feel like. That's what half, if not more of people that come to us that just just don't know. And it's not I wouldn't blame anybody for that, you know, because they say, oh, I'm probably a bad business owner.

00;24;20;26 - 00;24;37;29

Unknown

That doesn't make you a bad business owner. You just you don't know what you don't know. And that's why we're here. That's why we do these podcasts to make sure that we can put that information out there and help all the business owners. Like, I have this dream. I always say that business owners, everyone can be successful. They just need to know the right people.

00;24;38;00 - 00;24;54;17

Unknown

Like when I see restaurants go out of business, I'm like, oh man, I wish they would have come to me. I would have them in business. They were a great restaurant, right? Because I think everybody has the right to be successful. If they know the right people. You just you just have to figure out who that right person is to keep you in business.

00;24;54;18 - 00;25;22;06

Unknown

Right. So in order for you not to wake up ten years from now, if you're listening to this and saying, I wish I would have known two areas to for you to explore, first of all would be obviously what we're talking about here. If the fractional CFO world, if you need someone like that, if you're making money but feeling broken, like, okay, I need someone on the team that's actually going to help me get to where I want to be and know the numbers and know how to explain it to me in the business owner language versus just the language of accounting.

00;25;22;07 - 00;25;41;22

Unknown

Like then look into that. And that's why I said you can go to our website or simple CFO. Com if you want to book a call. The other thing is I believe the profit first system is a great entry point for most entrepreneurs where if you don't want your next ten years to be like Christina was saying, like, hey, it says you made $1 million, but you have no money in the bank.

00;25;41;23 - 00;26;01;16

Unknown

You need some type of system to manage your cash. Then that's the bottom line. And I believe cry first is one of the simplest systems out there that puts it into business owner language. That really helps you to start building, whether it's cash reserves or owner's comp or whatever it might be. Literally just interviewed someone yesterday on our podcast where I interview people that have implemented Profit First.

00;26;01;18 - 00;26;16;04

Unknown

And he said, like one of his big goals was to get to a year's worth of owners cop like in that one bucket because he wanted to have that security and he's got big dreams and big goals, and that gives them a lot of security. So he's taking the next like four weeks off because he made a commitment to his wife.

00;26;16;04 - 00;26;37;18

Unknown

His wife's from Sweden. So they go there every year. And so profit first was a huge part of him being able to make that dream a reality every year, because he's built up reserves, and being able to have that gives him the opportunities to step away from his business for a while to go over literally across the entire world, you know, to the other side to be able to say, hey, I want to be able to do these types of things.

00;26;37;18 - 00;26;57;06

Unknown

So that's where proffers can actually help you manage cash and not just have it be some fictitious number on some profit and loss that someone says you like here, here's what you made, and then there's no money to back that up. So those would be the two things from this episode. If you don't want the next 5 or 10 years for you to wake up and say, man, I would have wish, I wish I would have known this earlier.

00;26;57;07 - 00;27;13;09

Unknown

These are two areas, especially on the financial side. If you're not feeling like you're getting what you really want to from there, what you can explore here. So simple CFO. Com on our end, then the profit first. I obviously if you're listening to this you probably like the real estate investing world. I wrote profit first for real estate investing.

00;27;13;09 - 00;27;37;00

Unknown

So you can always go to simple CFO. Com and you can actually download my book. My whole book is at that link. So you can get that there as well to audiobook or the book as well too. But Christina, I was excited and I think this first episode is just really all about if you don't want to wake up ten years from now not knowing what you or wishing you would have known something, we at least have opened their eyes.

00;27;37;00 - 00;28;00;20

Unknown

So thank you for lending your insight today and I enjoy this. Honestly, I'm looking forward to us doing a lot more of these recordings together. Me too. Definitely. Well, if you're making money but feeling broke and you need that help, head over to simple CFO. Com thank you for listening and have a great day. Thanks for listening to the simple CFO Case Files on the Profit First for Real Estate Investors podcast.

00;28;00;23 - 00;28;14;28

Unknown

If you found this helpful, make sure you're subscribed so you don't miss our guest interviews featuring other real estate investors and our Profit first chats with David Richter. If you're ready to bring clarity and structure to the finances in your business, visit profit. To apply for a free financial discovery, call with our team.