How Overcoming Mental Roadblocks Will Make You More Profitable featuring Mark Stubler

Episode 82: How Overcoming Mental Roadblocks Will Make You More Profitable featuring Mark Stubler

THE PROFIT FIRST REI PODCAST

April 10, 2022

DAVID RICHTER


Summary:

Without an intentional focus on measuring and growing cash, as well as profit, your business might turn into an awful 360 degrees. Sharp-witted business owners are always one step ahead in maximizing growth, profitability, and value — especially in a competitive market like real estate. These strategies help leverage upcycles, weather downturns, and achieve your growth and value targets. If you’re not yet convinced, then you should give this episode a listen. 

Mark Stubler, owner and founder of Joe Homebuyer, is here to provide us with a blueprint on how to operate the “franchise model” in your business, understand your numbers better, and focus on profitability so you can achieve high levels of personal and financial success. But of course, success comes with failures. He will also talk about the mental roadblocks he encountered throughout his journey. So be ready to deep dive into these exciting topics!


Key Takeaways:

[1:44] What is the hardest lesson he learned as a real estate investor?

[4:53] What keeps Mark going in real estate?

[6:34] Has he had any money struggles in his business as he grew business and branched out?

[8:07] What are his struggles? How did he get past some of those, and what systems does he have to make sure that he’s taking as few risks as possible?

[10:40] Has he incorporated the profit first system

[12:24] The franchise model, how can you turn a successful business into a successful franchise?

[16:27] What early lessons did he learn about money, and how does that compare to how he thinks about money today?

[23:54] Understanding your numbers better and focusing on profitability


Quotes:

[2:03] “There are many ways to make money in real estate; if you’re not careful, you can chase two rabbits and catch none.”

[5:30] “It’s not an easy industry, but it’s simple. And if you apply consistently, you can yield such incredible returns on a fair amount of effort.”

[11:07] “At the end of the day, if you’re not paying yourself, if you do not realize profits, you’re looking at it backward.”


Links:

Mark’s LinkedIn- https://www.linkedin.com/in/mark-stubler-a201b56b

Joe Homebuyer’s Website- https://joehomebuyer.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


Transcript:

Mark Stubler:

I adopted this idea that I actually believe that we’re all entitled to becoming the best versions of ourselves. And a lot of times that translates to financial independence, there is a greater law, being, whatever you call it, a God that actually has interest in you, not just surviving, but thriving.

Intro:

Welcome to The Profit First REI Podcast, where real estate investors, master financial management, eradicate entrepreneurial poverty, and learn to be profitable from day one. Now, for your host, David Richter.

David Richter:

Today, we have Mark Stubler on The Profit First REI Podcast. I am your host, David Richter. I am really excited about this episode because he is the co-founder with Cody Hofhine at Utah Sell Now, Texas Sell Now and Joe Homebuyer, which does franchising, which is amazing if you want some help and getting the deals done. We talk about that inside this episode, but we also talk about some other things which are incredible from what Mark is talking about.

He talked about some of the mental roadblocks of when he started actually making money in real estate. So many people make money in real estate, but they don’t know what to do with it, and he gives you the answer. If you listen to the very end, he gives you the answer of how he got out of that mental block. And we talk about how revenue is vanity, profit is sanity and how his businesses really reflect that now and what he had to go through. I’m super excited about this episode. So let’s dive into it. Mark, so tell me just right out of the gate here, what is the hardest lesson you’ve learned as a real estate investor?

Mark Stubler:

Dude, I love the question. Stay in your lane. I realized early on that when I tried to get a little bit of commercial and land development, and even in the early days, taking on a rehab before I knew what I was doing or had somebody to manage it, man, it’s stay in your lane. There’s so many ways to make money in real estate. If you’re not careful, you can chase two rabbits, as the saying goes, if you chase two, you catch none. And I’ve been guilty of that.

David Richter:

Yeah. I think that shiny object syndrome gets a hold of everyone and then it’s like that focus and you just go, crazy everywhere. That’s a big one, stay in your lane, and that’s where if you’re wearing too many hats in your business, it’s very easy to drop the balls in the air if you’re trying to juggle 15 of them at a time and you’ve never juggled before.

Mark Stubler:

That’s right. Now, there’s a time and a season to take on additional exit strategies, additional focuses, but be good, really good at what you’re doing. We started wholesaling in Utah and we thought, “Hey, we’ve been doing this for 12 months, now it’s time to expand to another market.” And it was a foolish mistake. We weren’t ready to expand. We didn’t even have our infrastructure built out in Utah. Just that simple step of now we’ve expanded to another market, but it was after we had the infrastructure, the foundation in place. And we were in a position where we could take on another project or take on an additional element to real estate.

David Richter:

Yeah. Awesome. So, tell me then, why real estate? Why did you get into it?

Mark Stubler:

I feel fortunate that real estate found me or I felt found real estate. I have to tell you a quick story. So I was a fence and deck salesman for 10 years, worked with a great company. Regional sales rep, had a lot of success, made pretty good money because I’d been there, felt comfortable, worked with a great organization. And it was just time, I realized through what I referred to as a gift that the employer gave me. They said, “Hey, you’re an outside sales rep. You’re killing it. You’ve been doing great for us for 10 years. But by the way, to cut budgets, we actually need you to come into the office and be an inside sales rep for four to six hours a week.” And so I called that the pencil sharpener position. Now all of a sudden, instead of having complete autonomy, showing up once a week to report sales, I felt like I was literally sharpening pencils.

And it just triggered in my brain that, “Wait a minute, I don’t work for myself. I’m not completely autonomous. I got to do my own thing.” And it was a blessing in disguise because I started on a heavy journey to find my next path. And because I’d had a rental and done a rehab, I knew a little bit about real estate. Fortunately, I knew I needed to get on that path. So, I started taking friends out to lunch, started asking questions. Cody Hofhine and I were close friends. We stayed in touch because he and I worked together years prior. And I said, what are you doing, man? He says, “I’m doing wholesaling in real estate and it’s working great.” And that was my introduction and kind of the beginning of the journey.

David Richter:

Awesome. I love knowing how people got into it. And how about now, you’ve been in real estate now for years, what keeps you in real estate?

Mark Stubler:

Oh my heck, it’s such a journey, man. To be honest, real estate to me is really just a really fantastic industry. I just feel fortunate to found it in the sense that, I mean, what industry can produce the type of income without having the requirement to have brick and mortar, you don’t have to hire a bunch of pimple faced teenagers, you don’t have to have a ton of overhead, you don’t even have to have an inventory, a bunch of stuff that you have to buy and try to sell. It’s just unique. And then to be able to do a transaction that could be 20, 30, $100,000 or more if we’re talking a multifamily or commercial or development. I mean, it’s just wild. So, I guess it’s the return. It’s not an easy industry, but it’s simple. And you apply the simple principles consistently, you can yield some incredible returns on a fair amount of effort. And I don’t know of an industry that can yield that type of return relative to the contribution.

David Richter:

Awesome. Now, I love that. Real estate is such a great game. And then what you said before about there’s so many exit strategies too, it’s like there’s so many options and opportunities. It’s like, yes, you need to stay in your lane, but you get to pick a lane because it’s a very wide road there on the real estate journey where you can have … there’s enough for everyone to do something and to help people and to go out there.

Mark Stubler:

Well said.

David Richter:

That’s the real estate side. Let’s get to the business side of things, because if you want to be in real estate for years and years and be successful, you have to learn some business principles and abide by them. But I want to ask you first, maybe you’re the first one, but have you had any money struggles in your business as you have grown your businesses and branched out and done those things?

Mark Stubler:

We all have business struggle, or financial struggles and cash needs and I feel the pinch for sure. Because even when things are going great, you can leverage and tie up your cash, and before you know it, you’re still feeling the pinch even though you’re doing pretty well. But you have to have that because it makes you appreciate the profits that you are making and it makes you appreciate the grind. So yes, the day in the life of what we do with the several exit strategies we have is a lot of our cash is tied up, tied up in a rehab, tied up in investment on a bigger project. You never really feel overly a fluid as it comes to cash, but I am a pretty conservative guide. I like to take risk when it’s calculated, but I’m pretty conservative in terms of I like to keep a healthy number in the account so that at least I feel like I’m in control. So I feel like I can write a check for something if I need to. It’s finding that balance at the same time.

David Richter:

Yeah. Man, that’s good stuff, because it is. There’s a huge difference between being profitable, I love what you were saying there. We could be doing good, but our cash is all tied up and I feel like, “What’s going on here?” So, there’s a big difference between your profit and what cash is in the bank. So, don’t always trust those numbers. Here we go. With your struggles, how did you get past some of those or what systems do you have in place now to make sure that you’re making that risk as less as possible for running out of the cash?

Mark Stubler:

So, a couple things that we’ve done and this may not be overly orthodox, but obviously we do whatever we can to leverage other people’s money as often as we can at the best rates possible. So, we do that and we always want to have a baseline relative to the amount of projects we have going on so that we have buying power when we need it. But one ninja trick that we’ve used, and I can tell you, this is not going to be overly typical or it’s a variation of other people’s techniques, but we’ve actually paid for property without having a lean position on it. Meaning we don’t have a lender on it. And we paid, we own a rental that’s collecting whatever per month, small multifamily or a single family. And then we’ll put a line of credit on it. Generally, banks because it’s a non-owner occupied.

Don’t want to … Home equity line of credit more or less. It’s a little different because it’s not owner occupied, and we’ll leverage it. Meaning, we’re 100% cash flow positive on everybody. We’re tying up cash, that’s the an orthodox part that people are going to be like, “I don’t know if I like this strategy.” But I like it because I feel like I’m double dipping the chip. I’m able when I’m not leveraging the funds and I don’t need the cash, I’m not paying any interest at all on that property. And the rent that I’m collecting each month go straight to the bottom line. There’s no debt affixed to the property. But I can leverage up to 60, 70% of the property. So, if that property’s worth 500,000, I might be able to leverage 350 at the drop of a hat.

It’s totally liquid, and I can put it into something for two months, three months, a year, whatever I want. Sure. Then I’m paying interest at a little bit higher rate than you would if it was a fixed mortgage, not much higher. So, I feel like I have the autonomy, the flexibility, leverage it, but at the same time, there’s plenty of times when I’m in a cycle where I might not need the money for a month or two or three. And I like being able to draw small quantities, large quantities. Anyway, that’s an ninja trick that we leverage to have as much cash as we have, can have accessible, but not necessarily be committed to it in a fixed payment.

David Richter:

Okay. That makes sense. So, on this show too it’s all about the Profit First REI Podcast, have you incorporated, or anything with the Profit first system as far as like different bank accounts or are you able to see at the drop of a hat like, “Okay, this is how much money we have and I know we could spend this or whatnot too,” because that’s where a lot of people come and say, “Oh yeah, now we’ve got a good system to be able to see where that money’s going at any time.”

Mark Stubler:

Yeah. That’s obviously the most fundamental aspect of it is I think we get ambitious to, all right, I’m going to scale, I’m going to grow, I’m going to double down on this efforts, I’m going to put more into marketing. But at the end of the day, if you’re not paying yourself, if you’re not realizing profits, you’re looking at it backwards in the sense that you’re not really experiencing success if you’re not able to pay yourself. It doesn’t have to be a killer amount, it just needs to be modest, it needs to represent growth, and again, profit. So, I’ve found that multiple bank accounts that are dedicated, you have the tax, you have owners pay, you have some of these things that are set aside so that you’re in a position where you’re not surprised, but yet it’s very clear, calculated the way to know where I’m actually at as a result, where am I actually at when I’m talking cash? How much do I actually have?

David Richter:

Right. Exactly. What’s yours versus what is other people’s. So yeah, I love that, which as I was reading your bio, and as the questions that I love reading those things of everyone what they send over, but you seem to have a corner on the market on how do you take a business and franchise it as well too? Because if you’re going to franchise a business, you better as heck know your numbers and know to a T because that can get very tedious and very much, you could go down a slippery slope there if you don’t know it. So, can you talk about that a little bit, the franchise model and how you can turn a successful business into a successful franchise?

Mark Stubler:

Yeah. It’s been the most rewarding and challenging experience as a business owner that I’ve been ever had. And one of the most challenging experiences. So we started Joe Homebuyer franchise, which is a home buying franchise almost two and a half years ago. And you’re exactly right, we have franchisees that have a lot of I would say money background or finance background, and we have others that are very fairly elementary with their experience. That’s okay. And so we have to have a pretty systematic way of helping them utilize these principles that are going to set them up for success and making sure that they leverage even the most fundamental things like, “Hey, we’re going to track your expenses. We’re going to track your profitability. There’s going to be metrics that are going to be meaningful to you so that you can drive the bottom line and be as healthy as possible.”

And so that’s a fun aspect of the business for them to realize their profits, to help them recognize what’s going to help them get to revenue as quickly as possible and maintain and keep as much of it is as they can as well. So yes, in implementing systems is simple as like, do you have a bookkeeper and helping them plug into a system to track those things, very elementary, but can have just instrumental impact on their business if it started from the beginning that way.

David Richter:

Right. Yeah. That’s really good. I’m sure you see all types of owners, all types of different people, how they handle the business. And what would you say with the franchise model, what provides the most value to that end person that’s purchasing a franchise to be able to go out there and be successful?

Mark Stubler:

David, I appreciate the question. We have some franchisees that are already successful wholesalers and they just were ready to scale their business to the next level. And they were doing lots of deals, but now they just … What do I need to do to become you in my market? I want to do more deals. I want to be more profitable. I want to scale my business. And then we have others that didn’t do anything with real estate, but they wanted to get into real estate because they wanted to have rentals and passive income. So, every franchisee, I can tell you that there’s just some common themes. A lot of people like the culture, the community, the mastermind behind it. Others like the resources. We’re really big on the art of negotiation and the acquisition, how to acquire properties at a deeply discounted rate.

And what are the best processes to structure deals with sellers. And a lot of acquisition related and negotiation specific type support and training. And then it’s how do I maximize my profits on the back end, the disposition process? Do I rehab this one, do I wholesale it? And various things. How do I build out a plan for the next five years to become financially independent by keeping rentals? That’s what the franchise model is, is a turnkey system to leverage our experience, our team, and the collective group that we’ve put together, this guy can help you build out a plan for … create a finance structure with the sales you’re working with and that type of thing. So, every franchisees, if you talk to 30 of them, you’d probably get 20 or 30 different answers as to my favorite part of the franchise is this. But I can tell you, it’s been a rewarding experience to see our franchisees thrive and grow their businesses.

David Richter:

That’s awesome. Sounds like it’s a great way for, like you said, community, for structure, for system, for negotiation, for knowing what’s important, the numbers and making sure they are actually profitable at the end of the day-

Mark Stubler:

That’s right.

David Richter:

… and knowing those things as well too. That’s awesome. I think that provided a lot of value to the listeners here. And if you’re looking for something like that, make sure to reach out to Joe, we’ll make sure Joe at the end, that there’s a way that people can reach out to you. But we’re going to like take it a little different direction here now. I’m going to get a little bit personal if you’re okay with this.

Mark Stubler:

Absolutely.

David Richter:

I want to see what early lessons did you learn about money and how does that compare to how you think about money today?

Mark Stubler:

I might go a little different direction with this, but for me, I have to be honest, when I started making a decent amount of money, I have this mental block, maybe it was a confidence thing where I wondered if I was one that was supposed to … Is there some bigger law out there that says, “Mark, you’re not going to be wealthy. That’s not just the plan I have for you.” And it took me some time to realize, and again, I’ll try to be sensitive to the listeners, I adopted this idea that I actually believe that we’re all entitled to becoming the best versions of ourselves. And a lot of times that translates to financial independence, there is a greater law, being, whatever you call it, a God that actually has interest in you thriving, not just surviving, but thriving.

And it took me a minute to get there, both the self confidence and reminding myself that prosperity is available to all of us, and prosperity comes in different forms. We all know that. I’m a father of four and a husband of 18 years. And so I feel like I’m prospering. But there was a time that I was like, “Man, am I supposed to be wealthy? Am I supposed to accomplish these great things?” And at the end of the day, I’m here to tell you that I’m a pretty average dude. You’re going to find that even on this presentation on this podcast, I don’t know that I have a silver tongue.

I do work incredibly hard. I’m really disciplined, but at the end of the day, I’m a pretty average dude that feels grateful to say that I’ve been able to prosper in some areas and I think that’s available. In fact, I’m confident it’s available to all of us, but it does require the disciplines and the hard work to achieve it. That was my biggest roadblock I had to overcome is, “was this an opportunity for me?” Am I being afforded the opportunity to be prosperous and develop these wealth strategies and be fortunate enough to have those.

David Richter:

Man, you just hit on what I believe most real estate investors that get into this game struggle with, because they come from, they read Rich Dad Poor Dad, or they read a book or they have a mentor, they have a good person, a friend that helps them get into real state-

Mark Stubler:

That’s right.

David Richter:

… and they come from a background of maybe they make good money, but in real estate you could do a 20, $30,000 on one deal. It’s like-

Mark Stubler:

One deal.

David Richter:

“Holy crud. I just did.” If you do two of those deals in a month, like beginners luck here and you get two deals, like right away, it’s like, “I just made as much as I made in a year or whatnot,” for some people.

Mark Stubler:

Right. Right.

David Richter:

They’re like, “I’ve never made this much money before.” And then that’s when those feelings start coming in. They feel, “Am I worthy?”

Mark Stubler:

Crazy.

David Richter:

“Do I need to do this?”

Mark Stubler:

That’s right.

David Richter:

Man, I love that you bring that up because there’s so many people that feel like that I talk to. Man, I’ve already had 100 calls this year just with investors that are in that mind space of, “I’ve never made this much money, I don’t know what to do with it. Just help me know, is it okay that I take money out of my business? I’ve never taken out $20,000 for myself in a month. Is that okay?”

Mark Stubler:

Is that okay? Yeah.

David Richter:

It’s like giving them that permission. So, that was really great. You did say you’re a father of four, I do need to ask, what lessons about money do you want to pass on to your children?

Mark Stubler:

Thank you for asking that. I actually have an 18 year old son, three daughters after him. He’s kind of at the later stages. And I have to be honest, in some ways I feel like I’ve failed him. He’s had to earn his own money. I’ve made it pretty hard. My kids think I’m poor in a lot of ways. So, maybe that’s the one inherent principle I’ve succeeded at. Not that they think I’m poor because we have some nice things, we go on some nice vacations, it drives them nuts that they have to buy their own shoes. And it drives them nuts that they have to earn everything. And they’re just like, “Well, why don’t you just pay for it?” Type thing. And we have a good relationship, but we have a friendly banter about it.

But with my 18 year old, I’m realizing, “Hey, you’re going to the real world.” So recently, in fact, a day or two ago, I’m like, “No, I want you to get on Google Sheets. I want you to create a financial plan. I want you to look at what you’re bringing in. I want to look at what you’re saving.” Again, don’t know that I’ve done anything perfect, but I’m realizing at least with him, I’m a little behind the eight ball. I’ve got to put some more things on his plate so that he can have those tools, evaluate, and hopefully, be a little bit better prepared as he takes on the chapter of his life. But such a important thing to do. So, do better than I’ve done, those that are observing and listening because it’s important.

David Richter:

I would say, I just want to give a little bit maybe of advice right to you. I think you’re already providing a good example for them of where you are. That’s the biggest thing you can and give them. You can talk to you’re blue in the face, but if you’re showing them hard work, that discipline, you’re showing them, “You have to, you have to buy this stuff.” And you’re guiding them on that path. I think that you’ve been married, you said 18 years, right?

Mark Stubler:

That’s right. 19 in June.

David Richter:

  1. See, it’s stuff like this that they’re really looking at. That’s where I’m like, if you’re listening to this now as a listener, or Mark right here, it’s like, “That’s what they’re really looking for.” So I feel like you’ve already … Just the fact that you’re on here talking about like, “I had to go through some growth pains in myself as I was growing, because I never made this money before.” This stuff, that’s the stuff that they’re seeing, that they’re like, “Okay,” even if they don’t see it specifically behind the scenes at your real estate company, we bring all this stuff to every conversation with who we are. So, I just think-

Mark Stubler:

Well said. Thank you.

David Richter:

I think you’re doing … Yeah, don’t beat yourself up too, I think you’re doing well with what you’re doing there, and it sounds like your kids have a great example. And being married for 18 years, I mean, that really solidifies a lot of things with them as well too.

Mark Stubler:

Yeah. Thank you.

David Richter:

That’s stability. Awesome. We’re going to wrap up here pretty soon. I just want to know a couple other things. Let’s go to the business side. That was kind of the personal side, let’s go back to business. In your business, what would you say is the biggest challenge when it comes to the finances in your business? Is it still the cash flow of, I’ve got a lot of money tied up would you say? Or now at a different stage, years down the road, do you see different challenges?

Mark Stubler:

Well, I can tell you knowing your numbers is super important. I’m technical in a sense, I like to know my numbers, I like to know profitability. I like to know net. But I can also tell you that I’m better at hiring somebody to know those numbers for me. Because there’s somebody that’s better, there’s somebody that pays attention to the detail. The one thing that I would share with you that I have observed from myself and learned recently, it’s just so important to know your numbers, and learn how to read your P&L and understand it. And when I say that, I’m challenging myself to continue my journey with understanding it and really appreciating the details there. But as I’ve learned to really understand my numbers better, profitability, and really I’ve been focused so many years.

David, you might appreciate this and some of the listeners, I was so focused on top line and how set that sounds and how big my business is and how much revenue I’m pulling in. It just doesn’t matter. End of the day, top line means nothing if … I mean, there was years we had some pretty sexy top line, but the net, we just kept on adding personnel. Our labor efficiency was going down, our net profit was going down, but yet our gross rev, our sexy top line looked attractive. And that’s the wrong way to look at the profit ability in your company. That’s one major lesson I’ve learned.

David Richter:

No, that’s good stuff right there, because that’s what this podcast is all about. I don’t care how much you make, I care how much you keep. At the end of the day, that’s really what it’s about. It can sound sexy to say, “I have a seven figure business,” but if you’re seven figures in debt after that year two, it’s like, “What’s going on? I think I spend a little too much.” No, what a great thing to bring to the listeners as well too because it is, is we’ve all heard that cash is king, that net is what really matters and it’s like the top line. What is that? Revenue is vanity, profit is sanity. That’s really what we are.

Mark Stubler:

That’s right.

David Richter:

That’s really what it’s all about. Here we go, just a couple last questions here. What advice would you give to the real estate investing community? This doesn’t have to be financial related. It can be anything on your journey that you’ve taken down your path.

Mark Stubler:

Well, and you just said, one of the words I’d use here is enjoy the journey. I will tell you that the thing I share with anybody any chance I get is that I believe that part of what helped me overcome the psychology of money, and am I worthy of this wealth or this opportunity type thing is developing myself as a leader. And that’s an ongoing journey, meaning that I’m continually studying what does it mean to be a good leader? What does it mean to build a good organization and to bring and establish a team of other great leaders and develop leaders within them. And I have to tell you that the more I’ve developed personally and focused specifically on leadership, that would be my advice. That has been, I believe, a catalyst to the success that I’ve experienced. I have a great mentor. The other thing I’d quickly share is I have a great mentor that I work with regularly. He’s not just a very financially successful person.

This is a person that his family’s successful. He’s successful as a husband, as a father, he’s posterity, he’s almost 80 now, but I meet with him regularly. Has just an incredible history of success in business and family and community and his involvement in so many different notable causes. But surrounding yourself with people that inspire you to be the best version of yourself, that’s another one. And I think that compliments well this idea of this journey of developing as a leader. As I’ve done those type of things, I see the world differently, I focus on the right things and I’m able to enjoy the entire process and realize … because I’m a pretty imp person, David, I want results, I want them now. And I think that’s part of what makes me good. But at the same time, as I realize, “No, this is all part of me developing as an individual and becoming better and well rounded.” A better husband, better father, better contributor. All of those things helped me enjoy the journey and made everything more meaningful.

David Richter:

Awesome. There you go, enjoy the journey. That’s definitely a big one, because it’s easy to get wrapped up in the day to day and just being yourself up. And it’s like, “No, this is it.” This is the journey that you’re going through right now. So, great stuff. Mark, you provided a ton of value here and I just want to always give back to the person that’s given to our audience. So, how can people get in touch with you? What are you working on right now? And I just want to make sure that we can connect you with the listeners.

Mark Stubler:

Thank you so much, David. I would love to connect with any of you. You can reach me on LinkedIn. It’s Mark Stubler. And then if anybody was attracted to this because they’re in investing, they want to scale their investing business, they want to buy more single family or small multifamily or focus in real estate, which is obviously what you listeners do, and you like the idea of a franchise model being part of a community where you plug into a turnkey system. That’s what Joe Homebuyer is. You can find us at joehomebuyerfranchising.com, joehomebuyerfranchising.com. I would love to connect with people, just talk ideas, love the community of investors and find some common things to hang out and talk about.

David Richter:

Awesome. Well, there you go, that’s how you can find him. We’ll make sure to put that in the show notes as well too. So I just want to recap. So, we talked about some awesome stuff on this episode. I mean, we talked about growing and scaling the business, growing it profitably, what to do when your cash is tied up. And I love this, the one top line versus net, revenue is vanity profit is sanity. Enjoy the journey. And then those mental blocks of wealth. I mean, if you can go back to that space in the middle of that episode and how he got out of that, he gave us the answer at the end, which I thought was coming full circle there, is prepare to be that leader, study, grow yourself, get out of that mind trap that you’ve laid for yourself. I thought that was great. This was a great episode. If you are a real estate investor or business owner and you want to double cash, profit and keep more of your profit, head over to Simplecfosolutions.com and click the get started button. Remember, start making profit a habit.

Thank you so much for listening to today’s show. If you found this episode valuable, could you do me a quick favor? Could you give us an honest rating within iTunes? And be honest, you could say whether you liked it or not. And obviously, with iTunes, the more reviews and ratings we have, the better it is for other people that are searching for The Profit First Podcast. So, we’d love to be ranked on there and that’s thanks to your help. We would really appreciate that if you would like to go give us a rating. Also, if you’re looking to connect with us further, I would highly recommend checking out our Facebook group, Profit First for Real Estate Investors, and that’s literally what it’s called. So you can type in Profit First for Real Estate Investors, and you’ll be able to find our Facebook group right there.

So come join active, real state investors who are supporting each other and growing their businesses and profits together. That’s what that group is all about. The links should be in the description below. And if you’re interested in working with us in implementing profit first in your real estate business, we offer coaching and guidance. So if you want to work with someone who’s actually Profit First certified and who works right now currently with real estate businesses, you can actually go start your application process by going to simplecfo.wpengine.com/apply. Or just go right to simplecfo.wpengine.com, and there’s an apply button right on there if you want to actually start your Profit First journey with someone who can actually walk you through those step by step, and help you know and grow your cash flow. Thanks again for joining us for another episode of The Profit First REI Podcast. See you next episode.