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David Richter at the SJREI November 2021 Meeting with Lori Greymont

SJREI November 2021 Meeting: David Richter discusses Profit First for Real Estate Investors

November 19, 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, turn-key, 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, David realized that as much money was coming in, it was going right out the door.

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 really went.

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 and he wants to help you, too.

He will walk you through:

The Profit First Cash Flow System

Getting Financial Clarity

Wealth Creation and Accumulation

Visit this link to order David’s book, "Profit First For Real Estate Investing."

https://sjrei.org/profit-first/

The system in his book is tailored to the unique realities of running your real estate investing business.

It will help reduce your stress and build a healthier and more profitable real estate company.

David Richter on Play Your Game wiht Alan Walker

Play Your Game: David Richter, author of Profit First for Real Estate Investors

April 6, 2023

On today's episode, we are talking with real estate investor and author, David Richter about his latest book, Profit First for Real Estate Investors.

I use these Profit First principles in my business and its been a game-changer for me.

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 Every Growing Business Needs a Human CFO (And How They Help You Succeed)

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

Why Ignoring Cash Flow Can Sink Your Business (and How a CFO Can Save It)

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

The Hidden Dangers of Using AI for Your Business’ Financial Strategy

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 Private Money Academy Podcast with Jay Conner

Profit First For Real Estate Investors with David Richter & Jay Conner, The Private Money Authority

November 23, 2021

David Richter joins Jay Conner to talk about his new book, Profit First for Real Estate Investing. This book is a derivative of the original Profit First by Mike Michalowicz that is tailored specifically for Real Estate Investors.

David 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.

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 really went. 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.

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.

Timestamps:

0:01 - Get Ready To Be Plugged Into The Money

2:00 - Jay’s New Book: “Where To Get The Money Now”- https://www.JayConner.com/Book

2:20 - Today’s guest: David Richter

5:05 - Why David Richter gets into the real estate business.

7:18 - David Richter’s early struggles and challenges.

8:29 - What does your organization look like today?

10:51 - Connect with David Richter - https://www.SimpleCFOSolutions.com

Get David Richter’s book at - https://www.SimpleCFOBook.com

11:52 - “Profit First For Real Estate Investing” - David Richter

15:13 - Do you think most real estate investors don’t have the system to pay themselves?

15:57 - What is your advice to these investors?

22:23 - What other opportunities do you see for real estate investors?

24:21 - What piqued your interest in writing this book?

27:37 - David Richter’s parting message: It doesn’t matter if you are doing your first deal or your thousandth deal, get your system in place. Make profit a habit.

Private Money Academy Conference: https://www.jayconner.com/learnreales...

Have you read Jay’s new book: Where to Get The Money Now?

It is available FREE (all you pay is the shipping and handling) at https://www.JayConner.com/Book

What is Private Money? Real Estate Investing with Jay Conner

http://www.JayConner.com/MoneyPodcast

Join the Private Money Academy:

https://www.JayConner.com/trial/

Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $64,000 per deal.

David Richter on The Real Estate Jam with JD and Melissa

Profit First for Real Estate Investors with David Richter

November 8, 2021

Cash flow is like the heartbeat of your business and needs to be monitored. Real estate investors should manage and ensure cash flow and profitability correctly to be successful. Join JD and Melissa with their guest David Richter as they talk about the ‘Profit First’ strategy - a system in which business owners take a percentage from each sale as profit. David has a proven solution that will ensure you never have to worry about money again! Stay tuned!

Here’s what to expect on the podcast:

• How did David find his 'lightbulb moment' with business finance?

• What is the Profit First concept? Sales – Profit = Expenses.

• Why cash management is key to business success?

• Why it's vital to review the progress of your business? - Think about longer-term and more strategic planning!

• The importance of knowing your numbers in your business. Are your numbers up to date?

• Practical steps that you're taking your profit first - specific bank accounts designated for your profitability!

• And much more!

About David Richter:

David Richter is an active real estate investor who has closed over 850 deals and is the founder of Simple CFO Solutions, LLC.

He helps other investors to keep the profits they’ve earned, build cash reserves, and achieve true financial freedom.

His goal in life is to completely transform the Real Estate Investing industry by bringing true financial clarity and freedom to investors.

David Richter on The Next Deal Podcast with Justin and Vince

Master Your Money: Profit First Strategies with David Richter

October 9, 2024

In this enlightening episode, Justin and Vince sit down with financial expert David to explore the transformative principles of the "Profit First" system. Discover how to not only make money but also keep more of it! Whether you're a seasoned entrepreneur or just starting out, this conversation is packed with actionable insights that can help you take control of your finances and build a sustainable business.

Key Topics:

• Setting up your financial accounts: Make, Spend, Keep

• The significance of intentional money management

• Tips for new investors on optimizing marketing budgets

• How to ask better questions to drive business growth

Resources Mentioned:

• Profit First Book (available on Amazon)

• The Big Leap by Gay Hendricks

• The Seven Habits of Highly Effective People by Stephen Covey

Join us for this insightful discussion and learn how to create a balanced approach to your finances, ensuring you enjoy both your business success and personal life. Don't forget to like, subscribe, and hit the notification bell for more expert insights!

Episode Highlights:

1. 00:14 - 🎙️ Podcast Kickoff

Justin introduces the podcast and shares summer challenges.

2. 01:42 - 🙌 Guest Introduction

David shares his background and journey into finance.

3. 04:41 - 📊 Starting from the Ground Up

Discussing the importance of tracking finances effectively.

4. 06:56 - 💰 Understanding Money Flow

David emphasizes knowing how to manage cash flow.

5. 12:04 - 🧠 Entrepreneurial Mindset

The significance of being intentional with finances.

6. 14:12 - 📈 Marketing Investments

Vince shares experiences on investing in marketing.

7. 15:10 - 📚 Fundamental Financial Accounts

David outlines essential accounts for business owners.

8. 21:24 - 🌟 Peace of Mind

The benefits of intentional money management for stress reduction.

9. 23:05 - 🔍 Working with Leads

Justin discusses optimizing existing leads instead of seeking more.

10. 25:02 - 📅 Weekly and Monthly Reviews

David suggests regular financial reviews for better management.

11. 29:23 - ⏳ Time Management

The importance of prioritizing personal and business time.

12. 39:55 - 💡 Spender vs. Saver

Discussing the balance between spending and saving in business.

13. 41:13 - 🏆 Profit First Mindset

David connects personal priorities with financial management.

14. 45:07 - 📞 Connecting with David

David shares how to reach out for more insights.

15. 46:22 - 🎉 Closing Remarks

Justin wraps up the episode and thanks the audience.

David Richter on Where Did the Money Go?

How to Make Money and Stop Feeling Broke | David Richter & Profit First

May 4, 2021

Tired of making good money but still feeling broke? In this conversation with Profit First for Real Estate Investing author David Richter, we break down why that’s happening — and what you can do about it.

Whether you're flipping houses, building rentals, or just trying to make sense of your books, this episode gives you a no-fluff system to finally take control of your cash — without becoming a full-time bookkeeper.

What You’ll Learn In This Episode:

• Why most investors make money but never keep it

• The real difference between income and usable cash flow

• How the Profit First system simplifies your finances

• What 3 bank accounts every business should have

• How to pay yourself first — and still handle taxes, expenses, and growth

David Richter

David is the author of Profit First for Real Estate Investing and founder of Simple CFO Solutions, a company that helps investors get clarity and control over their business finances. He’s worked with hundreds of investors and speaks nationally on financial systems that actually work in the field.

Timestamps

00:00 – Intro & Why This Matters

04:42 – Playing The Wrong Game

06:42 – The Root Problem: How To Keep Money

09:18 – The Rat Race Of Real Estate

11:09 – Be The Small Business Superhero

12:51 – Why Did You Start Your Business

14:24 – Re-Take Your Pen

17:02 – What Is Your Keep Number

19:34 – Create Your Wealth System

22:07 – The Golden Trio Of Accounts

25:26 – Other Foundational Accounts

27:40 – Start Where You Are

28:40 – Building Wealth Habits & Keeping More

32:19 – What is your Why

35:06 – How Simple CFO Can Help

37:45 – Who Not How

David Richter on The Real Estate Investing Club with Gabe Peterson

Putting Profit First in Your Real Estate Business with David Richter

June 25, 2025

In this episode of The Real Estate Investing Club, I interview David Richter, David Richter 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. While growing and building a real estate business from 5 to over 25 deals a month, he realized that as much money was coming in, it was all going right out the door.

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 really went. 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. David Richter is a real estate investor who has a great story to share and words of wisdom to impart for both beginning and veteran investors alike, so grab your pen and paper, buckle up and enjoy the ride.

David Richter on Pave The Way Podcast with Greg Helbeck

David Richter | Profit First For Real Estate Investors

January 10, 2022

Hello everyone! Welcome back to another episode of Pave The Way Podcast!

Today we have my friend David Richter, author of Profit First on the show!

We will talk about how to benefit financially from running your real estate business the right way.

David Richter on the Accelerated Real Estate Investor with Josh Cantwell

David Richter on Real Estate Investing with a Profit First Mindset

December 28, 2021

If you’ve ever felt that you’re always chasing the next deal, living deal to deal, month to month, you’re going to love this episode with David Richter.

David is the owner of Simple CFO Solutions, where his advisory services helped a company not only grow from five to 25 deals a month, but took them from being unprofitable to building cash reserves.

David is an active real estate investor who has been involved in over 850 deals from wholesale, turnkey, owner finance, and almost anything else you can think of. He’s on a mission to completely transform how real estate investors view their finances–and help people achieve true financial clarity and freedom.

His newest book is called Profit First for Real Estate Investing. Co-authored with Michael Michalowicz, David has adapted the Profit First mindset and system–something I personally use in my businesses and really believe in–specifically for real estate investors.

In our conversation, you’ll learn how to stop living deal to deal, how David adapted the Profit First principles to address the unique challenges of real estate investing, and what you can learn from his incredible new book.

STRATEGIC REAL ESTATE COACH is dedicated to giving real estate investors and agents the best, most up to date resources, training, tools, techniques, tips, videos, news, interviews and insider information on today's best strategies and techniques for real estate investing in today's troubled market. This includes marketing for motivated seller leads, wholesaling, rehabs, rentals, foreclosures, pre-foreclosures, REO's, short sales, raising funding and financing, asset protection, internet marketing, real estate investing for beginners, and much much more, including teaching how to make money in real estate and how to become a real estate investor.

David Richter on The Multifamily Investing Podcast with Attorney Charles Dobens

How To Become A Profit First Real Estate Investor with David Richter

December 2, 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. David and I discuss how to become a profit first real estate investor.

And, visit www.MultifamilyInvestingAcademy.com to learn more about Charles Dobens' programs and other training courses.