00;00;00;00 - 00;00;23;09

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;11 - 00;00;42;14

Unknown

All right. We're back again. Cristina Gutierrez and David Richter. Your favorite two people from simple CFO to hear from. And I am leading at this time because I have thoughts of my own and that I want to start sharing. And David is so good at this podcast thing. So he's allowed me to kind of take the sea a little bit and talk about some things.

00;00;42;14 - 00;00;58;24

Unknown

So David, thank you for doing this and thank you for being here. Thanks for having me. It's an honor to be here. I love being on podcast and all the different things that come on with it. And I especially love being on the ones with you. My phone stinking ringing right in the middle of this thing. Let me shut this off.

00;00;58;25 - 00;01;20;07

Unknown

I have such a OCD, you know, not OCD. A what a d d d d yeah, I got a d I don't know if you could hear, but I'm like, this is ridiculous. So there we go. Now it's on do not disturb. No one ever calls me but spam anyway, so there we go. Oh. That's funny. All right, so let's talk about our our our roles.

00;01;20;09 - 00;01;39;04

Unknown

Okay. So we talked about this before our roles and simple CFO because your owner you started this company and brought me along. You know, as we saw value and we saw that we could create this partnership and do great things together, which we are doing. And me as the integrator and, and I just I see things a lot differently than you do.

00;01;39;04 - 00;01;57;29

Unknown

And I know in the past there was. David, what are you doing? David, what are you doing? Oh, sorry. Sorry. Or. Oh, yeah, this is how I see it. And then we have these conversations where it's like, well, I see it this way. So we talk about a lot. And the most important thing is whoever's listening, right. Who could be a potential client or who could potentially need the services.

00;01;57;29 - 00;02;18;12

Unknown

So your side is very big on sales marketing. How do you talk to people? How do you present to people getting in a room of people? Whereas that's not my comfort zone. So I'm very analytical, strategical. I want to look at everything from a strategy and a side that I can really overdo if if I'm not kept in mind.

00;02;18;12 - 00;02;36;09

Unknown

So there are times, though, when I require your help, you require my help. So what I'd like to talk about is your side from sales and marketing. And when you have a client that comes in and you see what they're going through with the information you're given, and sometimes you'll reach out to me and say, hey, can you come on this call?

00;02;36;11 - 00;03;02;13

Unknown

So talk about a little bit of like, why would you make the decision to want me on the call and have me in that same, same room with you? Here we go. The bottom line is, if you're listening to this, I simple CFO can only run because Christina is here like she is ten times smarter than me. I am very good at the empathy and the emotional side of business.

00;03;02;13 - 00;03;24;18

Unknown

So that's why I think I go into the sales marketing side more. Because I can put myself in the shoes of someone. Not saying that Christina can't, but Christina can also put on the operations viewpoint of like, no, I need what's the bottom line? How are we going to get results? It's the how to where my perspective. Usually when I'm sitting with someone and really want to understand, I'm trying to get to the why.

00;03;24;24 - 00;03;44;07

Unknown

Why are they in this position? Why did they even reach out? Why would we be a good fit to help? I'm trying to ask a lot of why questions I need Christina sometimes when they're asking specific questions up front and I'm like, I have no idea how that what the hell's going to be behind here? And I need Christina's help and support.

00;03;44;10 - 00;04;03;15

Unknown

But then that's also how a great business runs. That's why when we use internally for simple CFO, we use the EOS system from the book traction. So I'm visionary and she's integrator. So I'm more of that the vision and the the the big vision of that. And she's more of the okay how are we actually going to get this done.

00;04;03;15 - 00;04;21;13

Unknown

And David, that's a great idea the day. But that's a horrible idea. Or like so we have a lot of that those back and forth, which is great. But for something like working with a new client, sometimes I'll need to bring in Christina because I'm like, I they're asking things or if it's a client that might be like an executive level client because we have different tiers to simple CFO.

00;04;21;13 - 00;04;40;00

Unknown

And sometimes I need that extra support on the back end to make sure, like, I don't say something wrong because we care that we work with the people and that we don't oversell anything. I'm not ever trying to oversell you. I'm trying to tell you this is exactly what we do. This is what we can commit to, and this is how we can help you get to where you want to be.

00;04;40;03 - 00;04;57;03

Unknown

And I never want to stick my foot in my mouth, because I think another reason I brought you on even more recently over the last year in some of those meetings, too, because of the past and mistakes and overselling in the past and saying things that we couldn't do. And I've learned from that as well. So I'm not perfect.

00;04;57;03 - 00;05;13;19

Unknown

I know I need that help. So we're a great yin and yang, especially for these tricky ones where it's like, okay, they're asking some weird things here. I really need you on this call if you can be, to help me out, to make sure I don't say we can do something when we really can't. Yeah. And that's that's a good I mean, that's a good reason.

00;05;13;19 - 00;05;31;06

Unknown

And I think we team up well together too, because what my brain immediately wants to help, help, help help. And, you know, do it all right there. So I kind of have to take a step back. It's good that you lead it because it helps in my brain immediately goes to, like you said, how to what do how do we do this?

00;05;31;06 - 00;05;46;27

Unknown

And I'm already running spreadsheets run. Except I'm doing everything. She's already got your results for you on this call. Like, here's the bottom line here. I can solve all of your problems, and this is all you have to do. It's like I've already got a built for you. Just look at these numbers over here. So that is kind of how I think.

00;05;46;27 - 00;06;06;23

Unknown

But it's, it's because, well, because of my experience and because I, I know real estate really well, and mostly because my husband does a lot of real estate deals. Two and he's done a lot of interesting deals. So you kind of start to learn what happens behind the scenes, what happens in front of scenes. And a lot of people have those same issues and haven't figured it out either.

00;06;06;23 - 00;06;20;10

Unknown

Or they operate with a bigger team, so then it gets out of control a lot quicker. So then I can, I can as of saying it, I can hear like, oh my gosh, this went wrong with us. This has already happened. I know how to solve that. I know exactly what they need to see. I know how to help.

00;06;20;10 - 00;06;40;19

Unknown

So like all these thoughts are running in my head, which I don't want to take over a call, and I don't want to ask a ton of questions because nobody really wants that up front, right? They want to see what you can do and how you can work, not in a ten minute conversation. But I also want to make sure that everybody knows, like how highly trained our CFOs are.

00;06;40;23 - 00;07;03;28

Unknown

So we do CFO podcasts. And we could have sliver of, you know, the results that they give our CFOs. But the reality is, is we have some very high level CFOs that are very equipped and have done deals themselves and do great analysis strategies. Super smart. It's smarter than I am, like, know exactly what is going on. And not just that they have each other.

00;07;04;00 - 00;07;21;26

Unknown

So you don't just have one CFO that's like out on an island somewhere. You have like a whole team of CFOs that if they don't know, they can come to office hours, they can come to me like so it's I like to let people know that they have such a team, like once they join the simple CFO family.

00;07;21;26 - 00;07;38;23

Unknown

And I really do consider us a family. Like we stop at nothing to get them results. Yeah, don't get me wrong, we have a defined and I know that's where I shouldn't say this, because you're in sales and we've yelled at you for selling things. So we do have a defined package in what we deliver because you have to as a business.

00;07;38;23 - 00;07;57;02

Unknown

But we also want to meet them where they're at, and we want them to have comfort in our abilities and knowing that they can come in and we can like, deliver on their specific situation because there is somebody here that has been there and can give them those results. So I like being there and being able to communicate that to them.

00;07;57;05 - 00;08;16;29

Unknown

Quick pause from the episode. I have exciting news that's expanding the world of profit first real estate investors. You may know that years ago I wrote the book Profit First Real Estate Investing, endorsed by Mike McCourt, that has been read now by thousands of real estate investors. And now we're launching three workbooks, one for wholesalers, one for fixing flippers, and one for rentals.

00;08;17;04 - 00;08;45;12

Unknown

These aren't just deal calculators. They're full implementation guides. They're dialed in for each type of business. Wholesalers you're getting assignment fee math, marketing, budgeting, planning, and how to beat the feast or famine cycle. If you're a flipper, you get AR v accuracy, rehab, budgeting and profit forecasting, and running multiple projects at once without going broke rentals. You get your freedom number, cash flow per door, and a five year portfolio plan, plus the full profit first bank account.

00;08;45;12 - 00;09;13;06

Unknown

Set up an allocation system tuned to your business with formula specific for your business type everything you need to go from operator to CEO. And right now they're free. You just need to cover shipping. You go to p e workbook.com. That's PFREI workbook.com. Just like profit first for Real Estate Investing II workbook.com. Grab whichever matches your business or you can grab all 3PE workbook.com.

00;09;13;11 - 00;09;31;21

Unknown

Go get them. Make more profit. All right back to the episode. And that's where if you're sitting out there thinking like oh that sounds great. There's no way I need a CFO. Let me just tell you a story that happened this week. There's a guy that came in and he needs to replace his bookkeeper because they're actually raising the price and they don't understand real estate.

00;09;31;21 - 00;09;51;14

Unknown

And he's like, what is going on here? Like, I think I need a new bookkeeper. But he had also read the book Profit First for Real Estate Investing. So he was like, I'm interested in the profit first stuff, and, you know, the CFO. But there's no way I could afford a CFO now. And so we get to talking and all the questions he's asking me, though, are CFO level questions like, how can I pay myself?

00;09;51;15 - 00;10;05;23

Unknown

How can I make sure that I get the right person in the right seat, and how much can I pay them? And at the end of the call, I'm like, I know you came into this looking for bookkeeping, but if I'm really going to do a diagnosis, I think you really want a CFO because of the questions you're asking.

00;10;05;25 - 00;10;25;04

Unknown

And that's probably what you need to at this point. And he's like, there's no way though, right? And I said, well, we're built for smaller entrepreneur operating, you know, for people that have whether it's a very small team or they're starting to scale. And so we have different options. And then it was great. He's like, wow, this is more affordable than I thought.

00;10;25;09 - 00;10;42;10

Unknown

And I'd like to get the bookkeeping too. Like I need to close it out with my current ones, go to that one. And I just don't want people thinking a CFO is not just someone in an ivory tower that is going to be costing you, you know, $10,000 a month, or if you've got a full time CFO, they're like $250,000 a year.

00;10;42;10 - 00;11;03;22

Unknown

So it's like you get someone of that caliber, though, for, you know, a lot less. That also plays offense and defense for you. That's what a lot of people like when we talk to them to a CFO, should not just help you cut expenses, they should help you see where you can also make your money as well too, and make sure you're keeping more of it in your pocket.

00;11;03;24 - 00;11;21;07

Unknown

So that's what a CFO really is. So if you're listening to Christine and say, that sounds great, and I'd love someone like that on my team, but it's out of reach, I would highly recommend you just reach out to us and we have a discovery call, because really it is a discovery call. Are we a good fit if we're not a good fit?

00;11;21;08 - 00;11;49;18

Unknown

I'm going to either tell you that or recommend bookkeeping, or recommend someone else at whatever stage you're in. But if you're doing over $100,000 in revenue a year in your business revenue, not net profit, it would be a good time for us to talk because of the different levels that we have, just so we can. So that way, someone if you're listening to Christine and you're like, I've loved listening to her and I've loved listening to all these episodes, and I want someone in that caliber, caliber on my team and helping me with these results.

00;11;49;24 - 00;12;06;02

Unknown

Reach out to us if you want to. I even have a nifty banner here. If you're on YouTube and there's a link, right? And then there is. Look at that. I've got the stop feeling Broke QR code. So if you make money but feel broke, or if you're just thinking, you know what, it's time to reach out. Now's the time.

00;12;06;02 - 00;12;21;29

Unknown

You're going to talk to one of us. It's either going to be Christina or myself right now. That's who is covering our call. So I just want to be here for you if you need that help. And if you're just wondering, is this the right timing? I'll tell you. Some people we've told on the call. Christina, you can back this up.

00;12;21;29 - 00;12;36;09

Unknown

Some people we've told it is not the right time. You were even telling me about someone recently. I don't know if you want to tell that story where you like. They need CFO, but there's a bunch of other stuff in the bookkeeping. Do you want to talk about that and just how you to guide them on that? Yeah, yeah.

00;12;36;09 - 00;12;55;02

Unknown

If you come to us and you don't understand your bookkeeping or let's say you're integrating or you need QuickBooks online, or you want something different, or you need to take your spreadsheets like, I always want to do it one step at a time. Because last thing I want to do is rope you into CFO, why you need to clean your books up and even understand where you're at, because I don't.

00;12;55;06 - 00;13;20;21

Unknown

My rule is like as a CFO, like I don't want to charge somebody if I can't make that same amount times, you know, I would say ten because but you just don't know in real estate, but, you know, make that amount and make it worth it and, and show like that value like this is what you're getting. So if we need to clean up first and get you in your system and get you, get you, you know, integrated or maybe you have already in August.

00;13;20;21 - 00;13;39;22

Unknown

So if you haven't kept up with your books in 2026, like I'd want to clean up the books before having a CFO, unless there are times. I will say though, there are times where they're like, no, I'm I'm under the gun with this specific situation and I need the analysis now. So in those cases, like again, we meet you where you are.

00;13;39;22 - 00;13;58;28

Unknown

So we'll bring a CFO in day one and they'll help you with that specific analysis. Wow, your books are getting cleaned up in the back and your CFO is managing the book, the books being cleaned up for you. And all you have to do is feed the information in missing, and you can actually focus on what you need to focus on to grow your books.

00;13;58;28 - 00;14;19;28

Unknown

So it can happen in stages. It can happen all at once, and really 100% depends on where you are at in your business. We we always coin that term of meeting, meeting you where you are because we really do take that serious of like what do you need? That's why we do the discovery call. Then we take a step further and do the onboarding call, because that clears up anything.

00;14;19;28 - 00;14;38;11

Unknown

We might have missed that. Now the CFO needs to know, okay, this is my immediate need right now. Let me let us see what we can do to attack that first. So you want obviously you want that that value with the moment that you come in. And that's what we're here to give you. Yeah. So there's a great book if you haven't read it.

00;14;38;11 - 00;14;57;15

Unknown

And you're listening to this by Benjamin Hardy and Dan Sullivan who not how. That's a where a lot of people who in the financial space for the real estate investing world. Because if you don't want to manage it, if you don't want to worry about the finances, if you want to make sure that someone who knows what they're doing in this space is walking alongside you, that's what we're here for.

00;14;57;15 - 00;15;19;16

Unknown

So whether that's profit first implementation or strategic help or I just don't know where all my money's going, or if there's really like the bookkeeping issues or tax issues, whatever it might be. We want to help you and we want to help and be that. Who for you. There's also another one by Benjamin Hardy that came out recently, time as a tool, which is really good as well too, and just how our life is made up of time.

00;15;19;22 - 00;15;33;29

Unknown

And if you can hand that time off to someone to be able to say, I don't have to learn this thing, I don't have to become the master. Let me hand it to Masters and let the masters teach me what I need to know from this. And that's really what we're here to help with, is help you as a business owner.

00;15;33;29 - 00;15;48;01

Unknown

One of the segments that we'll do, I'm sure, in the future, are some of the best numbers you need to know as a CEO. And like, what do you need to go through? And that's what you're learning just through working with someone like us on a weekly and a monthly basis and making sure that you have someone here.

00;15;48;01 - 00;16;11;00

Unknown

So yeah, that's where I come back full circle. This is why I bring Christina on to some of those initial calls, too, because we want to make sure that it is the right fit and that we do have exactly what you're needing. And no matter where your business size is. So that's why we take a lot of care and a lot of effort, because it's that's a lot of people wonder to like, okay, David wrote the book.

00;16;11;02 - 00;16;31;05

Unknown

I'm probably never going to see him again. If I get him on a discovery call. We do more calls with you afterwards, like you have an orientation call with us. We train you on working with your CFO, so you get the most value from your CFO as well to in that relationship. Because let's be honest, most people have never worked with a fractional CFO or a full time CFO in their business.

00;16;31;11 - 00;16;58;08

Unknown

So you get people like myself, Christina, you get people here that help you on this journey with your people in the finance, because the finances can be emotional. They can be tricky, they can be complicated. And that's where we want to make it simple. We want to make it to where you understand it. We want to make it to where you like showing up to a financial call, whether the numbers are good or whether the numbers aren't so good, and you have someone that you can have there to say, okay, help me, what do I need to do?

00;16;58;13 - 00;17;19;29

Unknown

What's the next step? So that's what we're here for at simple cfo.com. Yeah, definitely I agree. Well this has been awesome. And I we want to just provide some short episode clips like this to wherever you are. And to really help you. We're going to do these on a regular basis where Christina and I talk, but we just want to help you.

00;17;20;00 - 00;17;40;23

Unknown

If you're listening to this and you're wondering if you need this help, just reach out to us. Simple CFO. Com just there's a financial Clarity call button that you can click. And to schedule a time with one of us, we'd love to help you. Thanks for listening. We will. Thanks for listening. Thanks for listening to the Simple CFO Case Files on the Profit First for Real Estate Investors podcast.

00;17;40;26 - 00;17;54;25

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 profitrei.com to apply for a free financial discovery call with our team.