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David Richter on The Experience Maker with Dan Gingiss
How to "Profit First" in Your Business
January 27, 2022
In this episode, David Richter, author of Profit First for Real Estate Investors and founder of Simple CFO Solutions, joins Dan Gingiss to explain why traditional business financials often leave owners feeling strapped despite generating plenty of revenue. Richter argues that most entrepreneurs treat profit as an afterthought—something left over once all expenses are paid—leading to inconsistent cash flow and ongoing stress. Instead, he advocates for the Profit First methodology, which flips the conventional formula (Sales − Expenses = Profit) to Sales − Profit = Expenses. By allocating a predetermined portion of every dollar earned to profit first, business owners ensure they actually keep money for themselves and build financial stability.
Key takeaways:
1. Profit should be intentional: Set up systems where profit is taken upfront rather than waiting to see what remains at the end of the month. This creates a business that actually makes money for the owner instead of just processing cash.
2. Financial clarity beats revenue vanity: High sales don’t guarantee health. Real financial success comes when you clearly see where every dollar is going and control expenses through strategic allocation.
3. Use dedicated bank accounts: Separating funds (profit, taxes, operating expenses, owner pay) helps prevent cash bleed and gives owners confidence to make decisions without fear of surprise tax bills or payroll shortfalls.
David Richter on No Flipping Excuses – Real Estate Investing Podcast with Jason Lucchesi
Unlock Your Real Estate Profits with David Richter: Master Profit First Today!
January 24, 2025
Ready to go from deal-to-deal survival to financial freedom? In this exclusive interview, Jason Lucchesi sits down with David Richter, author of "Profit First for Real Estate Investors", to break down proven strategies for managing your cash flow and skyrocketing your real estate business profits. 🚀
Discover:
✅ The Golden Trio of Bank Accounts every investor must have.
✅ Why "deal-to-deal living" is the death of profit—and how to fix it.
✅ How Profit First principles turn small wins into long-term success.
✅ Insider tips on getting lenders to see you as irresistible.
Whether you're just starting or scaling to seven figures, David reveals a system designed to help YOU win the real estate money game. Don’t miss this masterclass on building a business that works for you.
📚 Books Recommended in This Interview:
Profit First for Real Estate Investing by David Richter – The tailored guide for real estate investors to maximize profits.
Rich Dad Poor Dad by Robert Kiyosaki – The must-read book that inspired David and countless others to rethink wealth-building.
Profit First by Mike Michalowicz – The financial system that simplifies profitability for entrepreneurs.
Crucial Conversations by Kerry Patterson et al. – Master emotional conversations in your personal and professional life.
Fix This Next by Mike Michalowicz – Pinpoint and fix the most critical issues holding your business back.
Featured Posts
Why Every Growing Business Needs a Human CFO (And How They Help You Succeed)
As businesses grow, the money side of things becomes harder to manage. There are more bills to pay, more sales to track, more taxes to plan for, and more decisions that can affect your future. ...more
cfo ,Cash Flow &Profit First
December 10, 2025•6 min read
Why Ignoring Cash Flow Can Sink Your Business (and How a CFO Can Save It)
Running a business is exciting. You get to create, sell, and serve customers. But behind all of that, money has to move in and out smoothly. That movement is called cash flow—and it’s one of the most ... ...more
cfo ,Cash Flow Profit First &AI
October 02, 2025•4 min read
The Hidden Dangers of Using AI for Your Business’ Financial Strategy
Many business owners are turning to AI to make financial decisions, whether built into their software services or using ChatGPT, etc. The problem is that AI is not a replacement for a human CFO, and c... ...more
cfo ,Cash Flow Profit First &AI
August 21, 2025•6 min read
When Debt Becomes a Problem
Running a business is hard work. Business owners take out loans or borrow money to buy equipment, vehicles, real estate, or pay bills during slow months. Valid expenses, but If the debt piles up and i... ...more
cfo ,Cash Flow Profit First Budgeting &Debt
July 15, 2025•6 min read
Are You Running Your Business Without a Map?
Running your business without a financial plan is like driving without a map. Many businesses grow quickly in the beginning. But after that first growth spurt, they stop planning. They don’t have a cl... ...more
cfo ,Cash Flow Profit First Budgeting &Debt
July 03, 2025•6 min read
How to Take Back Control When Costs are Out of Control
When your business grows fast, it’s easy to pile on overhead like office space, extra staff, new equipment, and other fixed costs. These expenses don’t go away when business slows down. In fact, they ... ...more
cfo ,Cash Flow Profit First Budgeting &Debt
June 24, 2025•5 min read
David Richter on The Real Estate Syndication Show with Whitney Sewell
Profit First for Real Estate Investing with David Richter
March 23, 2021
Coming out of a year with cash in the bank is a goal most people have but are you behaving your way into profit? No? Then you’ll want to hear what today’s guest has to say! David Richter has been a part of over 850 deals in his lifetime. He is currently writing Profit First for Real Estate Investing because he wants to change the lives of investors by giving them the power to wield money as a tool for their greater purpose through financial mastery.
David Richter on RealDealChat with Jack Haas
Profit First for Real Estate Investors
February 13, 2022
In this powerful episode, I sit down with my long-time friend and serial entrepreneur Eddie Wilson — widely known as the “King of Exits” — to unpack what it truly means to build with purpose. Eddie shares how he has successfully exited over 113 companies and why his mission extends far beyond business. From navigating his first accidental exit to building a global nonprofit impacting 108 countries, Eddie walks us through how purpose, fulfillment, and systems of leadership have shaped his entrepreneurial path.
We also dive deep into his real estate journey, how he integrates tax strategy and endowments, and why legacy means creating something that can thrive without placing a burden on the next generation. Whether you’re a real estate investor, business owner, or mission-driven leader, this episode will challenge your definition of success and ignite a deeper sense of intentionality in your work.
David Richter on Carolina Hard Money for Real Estate Investing with Bill Fairman, Wendy Sweet & Jonathan Davis
David Richter – Profits First
March 24, 2020
Are you making a profit in your business?
David Richter joins Wendy, Bill and Jonathan to discuss how to implement profits first.
When you put your books into order, you see what you are actually spending a month and what's profitable and what wasn't.
You have to look at short term and long term profit centers. What do you spend more time on? Long or short term projects.
AirBNB or long term rentals, which is more profitable? You may be shocked at the answer for you.
Learn more about David at: https://simplecfo.com/
Serial entrepreneur Mike Michalowicz has developed a behavioral approach to accounting to flip the formula: Sales - Profit = Expenses. Just as the most effective weight loss strategy is to limit portions by using smaller plates, Michalowicz shows that by taking profit first and apportioning only what remains for expenses, entrepreneurs will transform their businesses from cash-eating monsters to profitable cash cows.
Carolina Capital is a hard money lender serving the needs of the “Real Estate Investor” and the "Small Builder" borrower who is striving to build wealth and generate income for themselves and their families. We offer “hard money rehab loans” and "Ground up Construction Loans" for investors only in NC, SC, GA, VA and TN (some areas of FL, as well).
As part of our business practices, we also serve as consultants for investors guiding them to network with other investors and educating them in locating and structuring transactions. Rarely, if ever, will you find a hard money lender willing to invest in your success like Carolina Capital Management.
David Richter on Ritter on Real Estate with Kent Ritter
A Profit First Mindset with David Richter
August 2, 2022
On today’s episode of Ritter On Real Estate, we sit down with David Richter. David is an active real estate investor who has been essential in closing over 850 deals over the last 10 years. He has experience with wholesale, turnkey, BRRRR, owner finance, rentals, lease options, and any other exit strategy you can think of.
In addition to investing in his own deals, David has helped real estate companies completely turn around from going out of business to building cash reserves by using the Profit First cash flow system. He has been featured on Biggerpockets, Real Estate Disruptors with Steve Trang, and many other podcasts, shows, and stages.
To help even more people, he wrote Profit First for Real Estate Investing - a derivative of the original Profit First by Mike Michalowicz that is tailored specifically to Real Estate Investors.
His goal is to completely transform the Real Estate Investing industry by helping real estate investors make and KEEP more money in their businesses. As the founder and owner of SimpleCFO Solutions, he wants to bring investors true financial clarity and freedom and help every investor stop living deal to deal. Welcome to the show, David!
Key Points From The Episode:
David's start in real estate. Reading Rich Dad Poor Dad and hanging out with Real Estate Investors to learn.
• Cashflow Management and preparing for the future.
• The importance of hiring for purpose and not just hiring to hire.
• What it's like working with Simple CFO.
• Understanding the numbers and managing accounting properly.
• What tools David recommends for financial management.
• Implying a profit-first mindset.
Books Mentioned:
Profit First For Real Estate Investing
Rich Dad, Poor Dad by Robert Kiyosaki
Profit First By Mike Michalowicz
The Road Less Stupid By Keith Cunningham
David Richter on The DealMachine REI Podcast with Matt Kamp
Putting Profit FIRST in Your Business featuring David Richter
September 15, 2022
Today Matt sits down with David Richter, a successful real estate investor and author of the bestselling book Profit First for Real Estate Investing. They discuss David's real estate journey and how he became an author, good business practices for real estate investors, as well as a bonus tip on how to put an extra $12,000 in your pocket as an investor this year.
DealMachine is a Real Estate Investing Software that provides a Driving For Dollars Function to build an organic list of leads with a team of drivers, and List Builder that allows you to stay in sync with sellers’ situations on a weekly basis.
CHAPTERS:
0:00 - Introduction
1:23 - David's real estate journey
3:56 - How he started his first book
7:59 - Why David thinks there's an "epidemic"
10:25 - The foundations of Profit First
15:56 - The basics of business health
20:29 - How he helps businesses with their finances
24:10 - How he sees the market changes
27:20 - How to get in touch with David
28:36 - BONUS TIP to get $12k more this year
David Richter on Send More Offers Real Estate Show with Brandon Barnes
Profit First Masterclass - How to Make More Money and Keep More of the Money with David Richter
February 14, 2024
The usual shortcomings that a real estate investor can make are neglecting the bigger picture to keep more money to the amount they earn. Learn how to figure out the good habit, mindset, and system to put money where it should be!
David Richter, the author of Profit First for Real Estate Investing and an active real estate investor who has closed 850 deals, is here to lead us in knowing the right tools in investment.
This podcast can show you how to avoid the same mistake; at the same time, look at the solution of implementing the things you want to scale to grow in the business.
Key Takeaways
• David Richter inspiringly shows us his journey as he entered real estate investment and continued his Simple CFO business.
• Beginners can test the waters by looking for a particular real estate investment company that they can learn from about running a business and acquiring properties.
• He emphasized the importance of understanding financial statements and hidden revenue can result in sound bookkeeping and good decisions for the business.
• Acquiring a CFO can help to communicate what the business is trying to get done and translate specific jargon for clients.
• The CFO can maximize opportunities for small businesses to send more offers.
• David teaches us how to save and cut time in half in financial house and order, documents to hold on to, and how to track things.
David Richter on Real Estate Influencer with Matt Andrews & Jason Hartman
Profit First for Real Estate Businesses featuring David Richter
February 25, 2021
David Richter is an active real estate investor who has been essential in closing over 850 deals over the last 7 years which include wholesale, turnkey, BRRRR, owner finance, rentals, lease options, and any other exit strategy you can think of. While growing and building a real estate business from 5 deals a month to over 25 deals a month, he realized that as much money was coming in, it was going right out the door.
Experience
With the unique opportunity of being in every seat as a real estate investor, he found a calling in the company’s finance seat to help businesses see where their money was really going. David has helped real estate companies completely turn around from going out of business to building cash reserves by using the Profit First cash flow system.
He is in the process of writing Profit First for Real Estate Investors. This book is a derivative of the original Profit First by Mike Michalowicz that is tailored specifically for Real Estate Investors.
His goal is to completely transform the Real Estate Investing industry when it comes to how real estate investors view their finances. He wants to bring investors true financial clarity and freedom, and help every investor stop living deal to deal.
David Richter on Property Profits Real Estate Podcast with Dave Dubeau
Profit First for Real Estate Investors with David Richter
December 6, 2021
David Richter is an active real estate investor who has been essential in closing over 850 deals which include wholesale, turnkey, BRRRR, owner finance, rentals, lease options, and any other exit strategy you can think of. He is the author of Profit First for Real Estate Investing.
In this episode, David helps real estate investors transform their real estate investing business in how they view their finances and bring them true financial clarity and freedom.
What you’ll learn in just 17 minutes from today’s episode:
• Find out where most real estate entrepreneurs get messed up and how the Profit First book can help them with that
• Learn how the Profit First Real Estate Investing book enables you to get a clear outline of your gross and net profit
• Discover why you need to set up the Profit First system no matter where you are in your deals right now
Topics Covered:
01:57 - How he got inspiration reading the original Profit First book to writing his own Profit First for Real Estate Investing book
05:33 - Where do investors usually find themselves in trouble, and how does the Profit First book help on this
10:46 - A matter of mindset shift
12:23 - The tangible benefit of getting a clear idea of your gross and net profit
Key Takeaways:
"The biggest thing I see is that the mistake of avoiding finances. Really comes down to lack of control. That's where Profit First, I feel like how does that fix that not only helps you to focus on it, but it helps you focus on your finances from your perspective, from the entrepreneur, because we check our bank accounts. And Profit First is all about bank accounts. It's all about the practical steps, I should say." - David Richter
"It is all about that mindset shift from paying everyone else first besides yourself. That's why I like the practical steps because we hear it so often from so many different sources to pay yourself first. But then, until you start getting into that habit and seeing the tangible benefits of doing that, it's hard for that mindset to sink in. Unless you can totally see the goal line." - David Richter
"Many people, when they think they're savvy, and they can read the financial statements, and they can do this, in that there's a big difference between the financial statements like a profit and loss and the actual cash going in and out of the accounts, especially in the real estate investing world because we deal with loans." - David Richter
How to Get Profit First in Your Business
Let's Find Your Lost Profit and Get You Making More Money with Profit First!
The Only Thing You Have to Lose is the Profit You're Already Losing!
Helping business owners make more profit and pay themselves what they deserve using Profit First.
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