Lessons Learned and how Profit First helped him through his hardest year with Brandon Neely

Episode 120: Lessons Learned and how Profit First helped him through his hardest year with Brandon Neely

The Profit First REI Podcast

October 10, 2022

David Richter



Brandon Neely is an experienced entrepreneur and dedicated financial planner who runs the Wealth Wisdom Financial Podcast with his wife and business partner, Amanda.

After a difficult and emotional second year of running a coffee shop business, Brandon and Amanda started their foray into dedicated financial planning. This led them to Profit First and applying its principles in both their business and personal finances.

In this episode, Brandon shares his insight on the importance of valuing your work and your worth, and why you should start implementing Profit First into your life.


Key Takeaways:
[00:46] Brandon Neely and Profit First

[03:26] The Struggles Brandon Experienced During His Journey

[07:12] On People Devaluing Their Work and Not Paying Themselves

[11:11] The Infinite Banking System 

[16:05] On Passing on Profit First Principles

[20:40] On Lessons Learned After His Hardest Year 

[22:52] The Effect of Money

[26:28] The Importance of Quality Questions

[22:44] His Advice for the Real Estate Community



[06:30] “We need to start paying ourselves…as a business owner, we weren’t the only ones dealing with this not paying ourselves. It is like a plague.”

[07:54] “We devalue our own efforts or works…I think that sometimes, we don’t realize that we need to [stop doing] that.”

[15:28] “It’s just thinking about where you put your money so it can multiply.”

[23:18] “What are your goals?…The hard part is most people have not actually thought about them, or talked to their spouse about that.”


Connect with Brandon: 

Still Method- stillmethod.com

Profit First Real Estate Investors FB Group-https://m.facebook.com/groups/ProfitFirstREI/ 

Simple CFO-https://simplecfo.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 


Brandon Neely:

Putting in that Profit First system because that’s another muscle that we’re working and it’s paying myself. It’s almost like going to the gym and doing date night. It’s just another system to make sure all of those things are in line. Same with Faith, right?


If you’re a real estate investor who’s sick and tired of living, deal to deal, then welcome home. Hear from everyday real estate investors just like you, and discover how they’ve completely transformed their business by taking a Profit First approach. This is the Profit First for REI podcast, where we believe revenue is vanity. Profit is sanity. It’s time to start making profit a habit in your business. So here’s your host, David Richter.

David Richter:

Hey everyone, it’s David Richter here. I have another special guest, Brandon Neely, who works with real estate investors, so it’s already great there. And then he works with the Profit First Methodology and he tells his story. It gets really emotional about the second year he was in business and it was the darkest year of his life. There were so many personal events that happened in business events that it is a miracle that he came out of that, but one of the biggest things he attributes it to was Profit First and getting back on track with the money and helping their marriage, helping the business, helping them get to the proper place. So I want you to listen to that story, how the number one thing that investors do that will help them get outta their rat race and will help them actually value themselves. So if you wanna value yourself more as a business owner, listen to this episode. It’s jam packed. I hope this episode impacts your life greatly. Hey, hey everyone. So we have Brandon live here with us on this podcast and I wanted to make sure that you got exposed to him because I have seen him and he’s helped a lot of people. He is someone that I respect in a lot of the groups that we’re a part of. But Brandon, great to have you on today.

Brandon Neely:

Hey, thanks for having me. I really appreciate

David Richter:

It. You bring the Profit First message as well. You’re also a Profit First implementer, which is amazing. What got you first excited about the Profit First message and like, why even go down this, you know, the rabbit hole of Profit First?

Brandon Neely:

Yeah. so, so a couple things. Knowing what happened with Covid being business owners ourselves and seeing like, oh my gosh, a lot of businesses need this system and they needed to have the system way before covid started. Yeah. But being coffee shop owners, I was like, Oh man. There is an opportunity and there there’s experience that we have. Not always good experience, but I would love to make sure that there’s, I don’t know, like the, the failure rate in businesses are not that they’re very high, right? Yeah. And a lot of times it’s because of cash cash flow and it’s because of, you know, the, the same old thing that we all deal with or, or we all think we’re, we’re unicorns about. And that’s usually paying ourselves, right? We say, I’m gonna reinvest in this, I’m gonna re keep redoing this and eventually that’s gonna pay off. And that was me. That was our business. And it’s so many people that I hear as we talk to business owners and, and real estate professionals.

David Richter:

Hmm. So, and I definitely resonate with you there. We could go on and on and on about that all day long. I wanna know first though, what were some of those struggles that you had in the coffee shop? Or like you touched on that like, you know, that you went through some hard times or challenges. Do you mind sharing with the crowd here?

Brandon Neely:

Yeah. So I remember the second year of our business was the worst ever in my life. Mm. You know, my grandmother died, my wife had a miscarriage. My father had a, I think I heart attack mother-in-law to stroke. There was just a lot that happened and then people will come in and say, How’s, how’s business going? And you’re like, It sucks. Well, you can’t really say that because no one really wants to hear it anyway. Right. But that was happening. And then, you know, what I, what I’ve been learning is, you know, the market world day say, Well you need to be investing in 401ks doing all of this. And my biggest investment was in ourselves. So we needed to still be saving. So that’s where we started like the infinite banking kind of idea. Mm-Hmm. <Affirmative> of making sure we’re saving.

Brandon Neely:

And we used our policies to get out of some bad business debt, credit cards. Cuz in order to start a business you need money. Right? Usually in a coffee shop is very intensive on cash needed up front. So, I don’t have a rich relative, a rich uncle or anything. Yeah. So we ended up doing a lot of credit cards and we’re, we were idealistic entrepreneurs and we were like, Yeah, you know, in six months that 0% interest is all we need because in six months we’re gonna be making a lot of money. Right. and six months goes by and we’re like, Oh, now it’s 17% interest. We need to start. And we were on the rat race as a business owner. Yeah. Right. And then as I was going through the system, we’re saving a little bit for our future, trying to make sure we do it right.

Brandon Neely:

Talked to an attorney friend of ours and we’re like telling him, Hey, we’re awesome. We paid off all of our debt, We are doing this. And he said, So how much are you paying yourself? And we’re like, Well that’s not to worry about that. And he’s like, Well, no, seriously, how much are you paying yourself cuz you wanna work with the end of mind? We’re like, well, less the minimum wage. Pretty much. And so we, that was an eye opener. Then I’m listening to this podcast Profit First podcast. Told my wife about it, got the book for free because he offered it for free. If I write a review and I was like, I don’t have any money this is really great. I’m gonna write a review. And I gave it to my wife for Christmas Best Chris Christmas present I could ever give.

Brandon Neely:

She loved it and it didn’t cost me anything which was even better. And then we’re like, Oh, we need to implement Profit First. We need to start paying ourselves. Doing all of that and realizing as a business owner, we weren’t the only ones dealing with this, not paying ourselves. Yeah. It is like a plague or something. It’s just epidemic all over epidemic. Yeah. There you go. That people are doing this all the time and then they think they’re, they’re unicorns that, oh, it’s different for them. It’s, I’m like, no. And I felt really good about at least feeling a tribe of people that are like, Oh, something’s wrong. We need to do something. And that’s how we ended up embracing Profit First. It’s not that easy

David Richter:

Though. So why did you, why do you think it is such an epidemic? Why do you think people don’t pay themselves and live in their rat race? Like, what is, what’s the appeal <laugh>, you know, to that side or like, why do so many people embrace that? It’s like,

Brandon Neely:

Yeah, I think some is we’re told like, you know, if you wanna invest, go invest in Amazon stock, go invest in this. And we don’t really take ourselves that serious and realizing that even the Profit distribution that is a, like you would get a distribution from any other business. Right, Right. As a quarter. Yeah. Same thi same principle. And we devalue our own efforts or works. And I think that sometimes we don’t realize that we need to be valuing that. And especially nowadays as more and more people, even if they’re working for Amazon, right? They, or they think they’re working for, they’re working for Amazon, but they have a truck that’s they’re driving that is really a business owner kind of deal. You know, they’re really a business owner, private contractor. Right. But they just really are Amazon employees just not with the benefits. Pretty much so, and if you are one of those people, don’t get mad at me, but it’s kind of where I’m thinking and it’s moving and how do, how do we help those people make sure that they are taking care of themselves from a profit method

David Richter:

Guess. Yeah. I love what you said there. They devalue their own efforts and work like how many, cuz you work with real estate investors as well too. And how many real estate investors have you seen that devalue their work where they’re not paying themselves hardly anything or definitely not celebrating over profit in their company because of what they’ve been able to build. Like do you see that in the real estate investing world too?

Brandon Neely:

Oh yeah. All the time. I see it. Or, or people use credit cards, 17% interest credit cards to do a fix and flip cuz they think they’re gonna be this other guy and, and I’m like, dude it’s all one wallet. Right? And I like to think about that always. It’s all one wallet. You may be making 10% on this deal or whatever you think you are, but it’s probably not because, but you’re also being charged 20% to, to do the flip or what Anyway. And, I think about the whole system, right? And how do we best have clarity in the system that we do and how do you make sure that’s again, why I love the infinite banking system is because I know if I borrow for myself, my loan cost is 5% simple interest, Right? That’s easy to calculate versus a credit card or other things. And so using that, that idea of other people’s money, I kind of think of myself as a split personality and my business as doing one thing. I’m also leveraging and using both sides. So anyway, that’s kind of, I’m always thinking all one wallet, right? Yeah. In investing in you, first and foremost, you the business owner.

David Richter:

No, I like that a lot. And I like what you said there about the infinite banking and that’s where you’re kind of your own investor, but you kind of have to think of yourself as another investor. But you’ve got other, you could also have other investors that I invest with you, but it’s like, that’s a different level of the game where I feel like Profit First gives you that, that clarity up front and then infinite be takes it to a new level of this is gonna be one of the things where I can start investing in my own deals. And it’s, you know, like you said, it’s the simple interest. So that’s another thing that I feel like, especially in the real estate world, is a great tool to use is the infinite banking concept. Do you wanna just touch on that a little bit? Maybe give a, and I know it’s probably the one of the hardest ones to give a simple, you know, a simple answer of what it is, but do you have that simple description of what that is? So people listening could, you know, if they’ve never heard about it before, could get a brief overview.

Brandon Neely:

Yeah. And some people might turn it off right away because they’ve heard Dave Ramsey say something on the other lines, Right? But it’s, and I’m a bank of yourself authorized. So that is like there’s some, some, there’s only 200 of us, right? It’s kinda like profit for specialists, right? There’s only a few of us that are Profit First certified. So being banking yourself certified is like, we have this system in place where we are building policies that are used to maybe I’m, I’m, I’m insured as a life, as a again, it’s life insurance. So I’m ensuring myself I am the greatest, biggest investment and the biggest risk in my business, right? Mm-Hmm. <affirmative>. And so I, I’ve been, I think a lot about that in that we would always ensure a cash machine if our cash machine broke, we would be pissed, right?

Brandon Neely:

So we wanna ensure that you are the cash machine for your business. Make sure it’s insured and make sure it’s efficient, right? And, and what I love about this, it’s kind of like buying, buying versus renting. Renting and buying, right? Mm-Hmm. <affirmative>, I love whole life insurance because it’s buying, right? I wanna buy instead of just rent, right? And then I can fund a policy, take a loan out for like taxes for example. I have to always pay taxes. So I’ll, I’ll put it through a policy and I might use the cash value piece to do a deal, pay a tax bill or whatever is in there. But you always, always want to be making sure you are thinking strategic when you do loans, Right. Or fill the policy.

David Richter:

Yeah. And I love that because it’s, especially in the real estate world, it’s not just you’re taking the money from that, the cash value and just blowing it or whatnot. It’s like, especially if you could do it something that’s gonna give you a return like a deal, you know? And like you’re able to have that, you know, like working for you instead of you just working for that money that’s out there. You know, like it’s, it’s you, what you said making it more efficient. And we, that it’s way deeper subject than for us to go down the rabbit hole here. But it’s, if you’re in the real estate world and you’ve heard of this concept before and especially like if you’re a Dave Ramsey fan and he just poo poo’s whole life, I was in that camp, like I was totally in that camp of like, whole life is horrible like trash fish because that was someone that was teaching me, you know, like that from this, the big stage like Dave Ramsey, once I really studied it, I’m like, there’s really some good leverage here and some good, you know, efficiency. Especially when you get into, especially paired with Profit First. You know, it’s almost like with Profit First you’re building the habit and discipline and then with the banking system, like an infinite banking policy, you’re building the efficiency of that, of that banking system that you set up with Profit First. You know, like in the get

Brandon Neely:

Bigger and bigger, which is exactly amazing to me. Like for me I self escrow, right? And instead of having an escrow account, cuz if you do an escrow account is like a couple thousand dollars just to, for set up fees. Right. And, and even whenever I did my mortgage, the mortgage guy was like we wanna do our own escrow. And they’re like, What? You can’t do that? I was like, No, you can, we wanna do it. And if you understand how that works and you’re good at that part of the system, we just pay our taxes on it. Right. We do that and it just happens to go through our money system first before we pay it out. Yeah. and then we build more wealth. And so it’s just thinking about where you put your money so it can multiply.

David Richter:

Yeah. Which if you’re still wondering like, what the heck we’re talking about, reach out to Brandon afterwards or reach out to us afterwards. We can have that conversation with you. Because it’s something that, like I said, and can set you up literally for your life, your children’s, your grandchildren’s life. Like you get this in place. This is something the Rockefellers do and very wealthy families that have been wealthy for generations. It’s, we talk a lot about Profit First being a wealth habit. There’s other wealth habits and principles to learn as well too. So speaking of next generations and whatnot, I always like asking where you’ve got, you’ve got almost a four year old, I think tomorrow is the official day. Yeah. Right. So I want to know which happy birthday to them, but what money principles do you want to pass on to them now that you’ve, now that you’ve had your own business, you’ve seen the ups and downs, you’ve seen Profit First, like you’ve implemented some good things in place, What do you wanna pass on to them?

Brandon Neely:

Yeah, so he is four. So he has these banks, these three banks and it’s saving giving and what is the other one? Savings, Giving and spending. Awesome. and he gets to choose which ones he’s putting his money into, savings, giving and spending. Right. and, and so he knows he doesn’t really understand it too much yet. Right. But, but it’s a, it’s almost like the Profit First system a little bit. Oh

David Richter:


Brandon Neely:

Is different buckets that he’s able to do. The other thing that I know is he’s already has a life insurance, infinite banking policy set up on him. Mm. What’s awesome is I’m not paying anything because his grandmother’s paying for it. Which is even awesome because she’s putting in that money every month and it’s his adulting fund. Right. And so I’m trying to figure out as he grows, you know, how do I teach him how to even make money? Mm-Hmm. <Affirmative> like I, I told him the other day and he’s three he’s like, I want this, I want that. I’m like, Well, you better go, go get some money if you want it. <Laugh>. Yeah. And, and started even telling him, Hey, in about five years you see all these yards around here, you should get lawn mower and, and, and start a business. You know, just heating it for him now. Mm-Hmm. <affirmative>. And, the other thing is teaching him that the whole world doesn’t revolve around him. That’s, that’s a hard thing to do as Americans,

David Richter:

But Yeah. And a hard thing to do at three years old too, you know, like when it feels like everything is, is definitely centered around you. Cuz I have a five year old daughter, so I totally get, totally get where you’re coming from with this stage of life. But I also think it just sparks something when you were telling me that, where you set up the three different accounts with him, like the three different buckets or three little banks with him, how many times growing up, you know, like maybe if you’re listening right now, as in the audience, you might have practiced Profit First at some point as a child, maybe your parents like set up those bank accounts or, or those little like jars or piggy banks or whatnot and instead saving, spending, giving, you know, or whatever it might be. Or maybe you never had that. And that’s why some of these concepts sound so foreign because there was never that in your life at any point in time. And how cool would it be if you listened to something like this, what Brandon just said and implemented that if you have a young child right now and you can literally transform that next generation with how they view money, and I love what you said brand, like what, what you’re trying to instill with them. So I love what you’re doing

Brandon Neely:

And the reason we even sold our coffee shop back in the day, and we used our policies to get through emergencies. We had a flood that happened. We were ultimately able to sell it because of our policies. Basically. We had that emergency fund set up that we could take a loan and use, but my wife was pregnant at the time. Oh wow. And I realized when we had the flood that, hmm, I need to make a change. This is not the lifestyle that I want to have. And so again, beginning with the end of mind, what kind of family do I want? And all of that, and thinking about this, even when he wasn’t even born yet, we started making the transition out of the coffee shop world into this because we also knew the numbers. Right? Hmm. And saying, Hmm, I can eat ramen all day long. Probably not healthy for a newborn. Right. You know, those kinds of things.

David Richter:

<Laugh>. Oh, that, that man. Just good stuff. Good, good stuff. Warning here on this podcast here with you, Brandon, I wanna ask you then, we heard some of like the hardest year. It sounds like that was a rough year of your life, that second year in business where everything was going wrong. What was, and you might have even said it, but I want to, I want to reiterate again, what do you think was the one biggest lesson coming out of that year that Yeah. Helped you?

Brandon Neely:

What I learned is putting myself as a priority. So I almost ended up in the hospital, my marriage almost fell apart. We weren’t paying ourselves. Right. Those things weren’t done. And our marriage like almost fell apart. And what, what my mentor, and we were also church planning at the time too, which was crazy. Don’t follow my steps for sure. But my mentor said, you know, what is kind of like, what is God saying? What are you, what are you doing? And, and realizing all of this stuff I’m trying to accomplish doesn’t matter. Like really the the business this if I’ve not taken care of myself and my wife. Right. And so what I learned from that is put in things that are bedrocks, right? So dating every Friday night we do date night, right? Friday and inside or Saturday night date night, don’t talk about work. We are business partners, right? We can’t talk about work going to the gym regularly putting in that Profit First system because that’s another muscle that we’re working, right? And it’s paying myself, it’s almost like going to the gym and doing date night. It’s just another system to make sure all of those things are in line. Oh, same with faith, Right? Does

David Richter:

That make sense? So good. That yeah, that makes total sense. Because the reason a lot of people get into those situations is they don’t have those systems in place and you start doing them, you can start seeing those results and then it’s like years later and you’re like, holy crud. You know, like the compound effects of those results are even bigger. You know, like the marriage being the best it’s ever been, the bank account’s being the best it’s ever been. And I I wanna ask you that, do you see with yourself, with your own experience and working with other people that money is one of those root causes of absolutely either bringing people down or bringing people to where either on their knees or two, you know, like a better place?

Brandon Neely:

Absolutely. I mean, I talk to people all the time doing financial analysis like you probably do, and asking them, what’s your goals? You know, and, and the hard part is most people have not actually thought about that. Hmm. Or talk to their spouse about that. Yep. And, and you’re like, Dude, really? And they’re, they ask all the time. I hear that’s an in, that’s a great question. I’m like, you should be asking that question. I don’t know, daily, pretty much. And, and I just find that interesting that we’re just kind of sleepwalking through life or hoping that this deal’s gonna do this and solve this. But again, it’s that reverse engineering, what kind of life do I want? What kind of grandparent do I wanna be? You start building that muscle with a four year old. Right. because that’s going to show the family that you want.

Brandon Neely:

Right. My, that’s really son, my son has mantras. You know, every family has a mantra, mantras in general, and he knows that Sundays are adventure days. We go out and we’ll go to a park or something and we don’t know even know what we’re gonna see, but we put those into place every Sunday and he knows it’s Family Day, Adventure day Right. And I’m hoping he sees that. And he knows date night is Saturday. Right. he knows that we do the Profit First system even though he is four. All those things. And, and he also knows, Oh, he doesn’t know yet, but I’m again, building the system. He’s gonna be pretty dang wealthy. So again, what the, what the Rockefellers do, at least compared to me what I’ve built, like what I have, I know I’m setting him up and some people say, Yeah, but I don’t wanna give them money. I’m like, well, I want my son to have a better life than me. So I wanna have that. And, and so building that life insurance is important to me.

David Richter:

Well, and you’re also building the good character habits. I mean, you’re, you’re living out at least a good example, if he messes up, it’ll be on him. Like you’re doing everything you can to put the proper things in place, it sounds like, to give him the best chance to be a good human being as well too. So there’s also that, and you can

Brandon Neely:

Build trust. What would the Rockefellers do as a great book? And that can build some barriers or, or guidelines like the Profit First system. But in the end, I mean, after a couple years generations, I don’t know what’s gonna happen, but I wanna make sure I’m leaving the world a better place.

David Richter:

Right, Exactly. And I like what you said too, like, these are the questions you should be asking yourself every day. But a lot of those, the entrepreneurs or the real estate investors listening now, especially on the financial side, don’t know what question to ask. They don’t, they honestly don’t know that. And for me, I wouldn’t have known 15 years ago, you know, like as a dumb kid, like, you know, like, what questions should I be asking myself to make sure that I’m successful? And it’s like, unless you have someone like that in your life that is mentoring you, like you’re doing with your son, and like I’m trying to do with my daughter and with the people we’re working with, it’s like, unless you have that person, they’re not gonna know those questions. So that’s where I feel like the work that you’re doing, that we’re doing, like trying to get this out there, it’s, it’s trying to get people to ask those better questions. Because I don’t know if you agree with this, but do you think it’s the quality of the questions really determine the quality of our life?

Brandon Neely:

Oh, for sure. Yeah. It’s all about questions, right. And asking the right ones. And that’s where my wife is better at doing this job than I am because she’s, I guess female and a lot better at a questioner or something. Being a good listener is important. And, and I just think that that is, is as, as we think about personal trainers, Right. Or nutrition coaches. Right. It’s the same thing. Yeah. Right. Except the only difference is money and finances touch everything. Well, every part, every park. Right. And we, the, the way I kind of think about it as your job, and my job is to be personal trainers, really mm-hmm. <Affirmative> and we’re asking good questions and saying, Hey, you know, if you do it this way, your form’s a little off, but if you do it this way, you’ll be better. Right. and

David Richter:

Or you’re doing this and it’s totally sabotaging your success. Yeah. So yeah,

Brandon Neely:

Stop eating the, and this is my part. I go to the gym, my diet sucks and I know it because I have a four year old who brings home everything and I’m eating it and, you know, but I also know, and, and being self-aware, and so having those people around you that can help you become more self-aware.

David Richter:

Yeah, that’s good. So I’ve got one final question for you. I’m gonna turn the tables a little bit, but this has been an awesome episode. I mean, you got real there with how hard that year was in your life, but then what you learn from it, of making sure people are making themselves a priority too, because you can’t, you can’t be helping other people if you’re gasping for air. You gotta make sure that, So that was really, really good. We devalue our own efforts, you know, like making sure that you’re valuing yourself too. You know, like not just thinking of yourself first, making sure you get the property place, but like making sure that you’re, that you’re doing something tangibly too for that. We talked about the systems to put in place. We talked about the marriages, you know, like the, what we are modeling for our children as well too. I loved every single part of this. And then, then don’t know what questions to ask, you know, and like how do you ask those proper questions and have those people in your life. But branding, you’ve dropped a lot of knowledge here. So is there any way our listeners can provide value back to you? Like what are you working on? How can they get in touch with you? Give the whole load down.

Brandon Neely:

Yeah. So you could go to still method.com. That is a framework that we’ve created still method.com. And that’s can you spell that? S t i l l. Okay. Sim it’s almost like a simplified Profit First. So excite your sites, track your in and out, inspect your progress, look for 1% adjustments and live deliberately. Awesome. That’s the still method. Yep. So go to still method.com, download that. It’s a lot of questions that you can ask yourself to implement this. And if you do that with your spouse, with your business partner, it will change your life, guaranteed. So still method.com, go to Wealth Wisdom Financial podcast or channel we have YouTube videos and, and all of that. And my wife is, she’s a very good, articulate person. So she writes a lot of the content. So if you hear, I’m usually going back and forth with her, but she’s the, she’s the brains in our

David Richter:

Business. There you go. So if you’d wanna listen to her, there’s a couple different places too where you can find then your wife’s name’s Amanda. Correct. So if they’re looking up the, you know, Brandon and Amanda Neely. So if you’re looking for those and you can find them, so awesome. Thank you so much, Brandon. This has been incredible. And if you’re a real estate investor listening to this right now, and you need one of those people in your life and you want someone to help you, ask those better questions to make more money, put more in your pocket, get that less stress, you can also head over to simple cfo solutions.com. Got a full team there. You could book a no obligatory discovery call and we’ll, if we’re not the right fit, we’ll put you with the right person there. Whether it’s branding someone else, a bookkeeper or cpa, whatever connection you need on the financial side. But remember this, if you’re listening, make profit a habit, not just an event in your business. Thank you so much.


This episode of the Profit First for REI podcast is over, but there are plenty more where that came from. Are you ready to learn how David and his team can help implement the Profit First system in your business? Schedule a discovery call@simplecfo.com right now. We’ll see you next time on The Profit First for REI podcast with David Richter.

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Title: “Realize Your REI Potential with Jennifer Steward: Authenticity, Profitability, and Consistency”

Episode: 240

In this episode of Profit First for REI podcast, we are sitting down with Jennifer Steward of REI Data Source, to unveil the secret weapon you’ve been missing: authenticity. 

Jen will crack the code on how to project a winning image that seals the deal…But wait, there’s more! Learn the top revenue activities every entrepreneur should master and discover the power of consistent strategies to solve your REI problems.

This episode is your blueprint to a thriving virtual business. Don’t miss out!

Key Takeaways:

[0:50] Introducing Jennifer Steward

[6:07] Project an image of success from

time to time

[9:16] Some best revenue activities that every entrepreneur should know

[11:00] Leveraging every avenue that you can, get consistency, and make sure you’re solving current problems

[17:43] The golden ratio in social media marketing is: 90% business and 10% personal

[25:02] The benefits of running a virtual business


[4:20] “Authenticity is like a business repellant.”

[10:09]  “In a market where you can’t dind deals but there’s plenty of money, you have to be the person who knows how to find the deals.” 

Connect with Jennifer:

REI Data Source Website: https://www.reidatasource.net 

Jen’s Email: jen@reidatasource.net 

Phone Number: (469) 952-8011

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


Speaker 1 (00:00):

You need to just be able to solve the seller’s problem and just start with one exit strategy that you’re really confident in. And then once you master that, expand from there. And like you and I talked about, it’s who not how you don’t have time. Most likely to master all of those. So have a referral partner that you can build a relationship with and trust.

Speaker 2 (00:23):

If you’re a real estate investor who’s sick and tired of living deal to deal, then welcome home. Hear from everyday real estate investors just like you, and discover how they’ve completely transformed their business by taking a profit First approach. This is the profit first for REI podcast, where we believe revenue is vanity. Profit is sanity. It’s time to start making profit a habit in your business. So here’s your host, David Richter.

Speaker 3 (00:50):

Today we have Jennifer Stewart on which she is a go-getter. She’s out there, she’s doing lots of things. She’s in the cold calling space. She’s also a real estate investor. But then she’s also someone who I think has gone through a lot in her life and has come out on the other side stronger. And you can tell just from what she talks about and what she sees as the most successful real estate investors, what they do on a daily basis, on a monthly basis, it’s just good bottom line stuff to help you if you want to become someone who’s consistent in business, no matter what the market is doing. So I think this is going to be a really good episode. She gets into the nitty gritty and also just helping you get to where you want to be and making more money as a entrepreneur. Jennifer, welcome to the Profit First REI podcast. I’m so excited you’re here today.

Speaker 1 (01:37):

David, thank you so much for having me. I’ve been looking forward to this all weekend. What a great way to spend a Tuesday at noon and thank you. Thank you so much for having me today.

Speaker 3 (01:47):

Yeah, well I’m excited because we dance around in these different groups and we’re going to these events and you’re speaking a lot, you’re helping a lot of people out there, and I see you as someone who’s just very much, I hope this comes across, but just a very mature human being that has gone through a lot, but you haven’t just been a victim. You’ve been someone who said, I’m going to grow from what I’ve gone through, and that’s what I’ve just observed. And then honestly, there’s lots of my friends that respect you a lot too. I’ve gotten to know you well, so I’m excited about this one. So many things that I feel like we could go down, lots of roads here. So again, thank you for being on the show.

Speaker 1 (02:25):

I appreciate that. That’s very generous and kind observation. I think mature is a very polite word and I am just kind of overwhelmed with that kind assessment.

Speaker 3 (02:37):

Yeah, well, I don’t want to use any rude words for you here today, so we’re going to dive into it. No, but seriously I do. I see as someone who takes a lot of those lessons and applies them right away. I would also say too that you are not scared about sharing what you’ve learned and what you’ve gone through. Where do you get that deep sense of truth to share exactly what’s going on? And I don’t know if you’re a fan of the office or if you’ve ever seen that show. I like the Office, if you like the office. Where is it? I think it’s Kelly’s, Dayton, Daryl, and she says, he said, who says exactly what they’re thinking? What kind of game is that? And I’m like, that is Jennifer to a t. And I’m just wondering how did you get that as part of you? Because I think it’s so genuine, authentic, and it brings more people to you and they resonate. You’re saying what they’re scared to say.

Speaker 1 (03:30):

My business advisors have told me to do the opposite. They said

Speaker 3 (03:36):

Genuine, sorry. That’s great. Basically the

Speaker 1 (03:38):

More money you’re going to make, you have to play the game. And so what I’ll do, David being totally transparent, is I’ll turn that on and off depending on my revenue. So I know that sounds hilarious probably, but if my revenue gets lower, I will turn off the authenticity to a certain extent and go back into my polite game, the system mode. But whenever income is plentiful, I’ll go back to being more my authentic sharing self because number one, sometimes I get more business than I can possibly ever take down, and that’s overwhelming. And so I find that authenticity is like a business repellent, but it’s so much, it’s so stressful for me to be fake. It’s so stressful for me to be something I’m not. And that’s me being a little bit funny, but also kind of realistic as a business woman. And then there’s me as a person who has a soul and that person wants to connect. That person realizes that I’m not just here to make money, I am here to help people who are suffering. And I know that sounds cheesy and cliche, but it’s true. And lemme tell you, I don’t want to be one of those people who are suffering. So I will switch into a mode that is more polished, if that makes sense.

Speaker 3 (05:09):

That makes sense.

Speaker 1 (05:10):

Because I don’t want to starve. And so I do kind of go back and forth between, okay, I need to dial it back. And I think that people notice that if I was just all the time talking about what a person can overcome or the deep parts of our why and our feelings, then I think that would really drive away a lot of business. I’ve seen people who got up on stage and talked about aligning the chakras and they were never invited back. So you have to find a balance between being a compelling human who helps people overcome these internal struggles that we likely all face, especially as entrepreneurs, depression, anxiety, slow times debt overhead, really painful things that will keep up at night and destroy your health and destroy your relationships. And then we also need to focus on, unfortunately we have to project an image of success from time to time because I’ll tell you, I always get the most business whenever I’m on vacation, I can actively ask people to leave me alone while I’m on vacation.


And that’s whenever I get all the messages for, Hey, I want to do business with you. Because they see the success, they see that it works. When really that’s I’m spending the money, that’s whenever I’m the least successful because I’m not putting time into my business and the dollars are just flying out the window like someone who has an open wound. And so it’s funny because it’s whenever you’re doing the best that it doesn’t show, and whenever I’m making the most money, it’s usually whenever I look the worst, I haven’t had time to groom myself. I’m probably still wearing pajamas that day. And so it’s almost always the opposite as to who has money and who doesn’t. So the person you see with the super nice house and the super nice car, those people have confided in me, Hey, I have so much pressure, I feel like I’m going to lose it.


But those are the people that look up to and respect. And so that being said, David, if I was financially independent, 100% I would be genuine and deep and all the time, if that makes sense. It would be like, Hey, when you woke up today, did you thank God for just waking up? And what are some ways that you can lower your overhead? What are some ways you can increase revenue? Are you wasting time on non-revenue generating activities? Are you doing too much stuff for free? Those of us who are in real estate, I think we do too many things for free. And like you and I talked about, it’s not just your expenditures that are on your books, it’s also the expenditures that are on your time. And so I talked to my attorney last week about dropping non-revenue generating businesses that just aren’t converting because there’s hope in one hand and there’s numbers in the other.


And after a certain amount of time, you need to realize which businesses are covering for the businesses that are taking a loss. And so my lawyer kind of sat me down and I know you do this, and we had to look at which businesses are just not generating and which are carrying the ones that aren’t. And he said, just focus on the ones that are. And so that being said, whenever we wake up every day, if we are our real selves all day, it usually doesn’t translate into revenue. But when I have the luxury of being myself, David, I always want to reduce the suffering of others because that’s kind of all I’ve done my whole life is I’ve had to overcome and overcome and overcome and overcome to a degree that just feels, it could feel really unlucky if I let myself go there. But instead of feeling unlucky, I have to see the opposite side of it. So for all the extremely low probability things that happened to me, there’s also extreme low probability things that happened for me. And you have to see both.

Speaker 3 (09:11):

Right. That’s really good. That is really good. So since we’ve gone down this road, and especially for the real estate investors listening, what would you say are some of the best revenue producing activities they could be doing or that you see in your own life that you do that translates into that

Speaker 1 (09:29):

You have to fill a niche that nobody else is filling? You have to see a problem that everyone is facing a hitch in the giddy up that’s keeping everyone from making money. What I’m noticing right now, for example, people don’t have the money for down payments on their loans. So like we mentioned before the call, I’m offering a program where you can do a hundred percent financing as long as you’re one of my cold calling clients. And it blew up because people don’t have the money for a down payment right now, and my cold callers really aren’t that expensive. And so it solves that problem for them. And in the past, the biggest problem was finding deals. And in a market where you can’t find deals, but there’s plenty of money, then you have to be the person who knows how to find the deals.


And so you have to find what’s keeping people from making money today in the current market and then really, really leverage your social media and go speak, like you and I talked about before, go speak on those topics, mention it on social media, put it in your stories, tell people what you do, and then be really consistent with your message because people are watching, they want to see consistency. And it’s like my lawyer taught me, who’s Jeff Watson? If they see you being erratic and all over the place and not consistent in your message, then people don’t trust that they can go to you to solve these problems. And so that’s the big key is leveraging your social media and being really consistent in your message and making sure that you’re solving the problems of today. So those three things, consistency, solving the current problems and just making sure that you’re leveraging pretty much every avenue that you can.


And of course, always want to be competent and run an ethical business because you can spend 10 years building a reputation. And if you hire one bad employee or someone who makes you look bad or doesn’t deliver for a client, unfortunately bad news spreads like wildfire and just whatever you’re buying on Amazon, you’re going to pay more attention to the bad review than the good reviews because we’re looking for to avoid pain for good reasons. I mean, some things could take us out and set us back a decade if we make the wrong investment. And so it’s really, really important in a capital intensive business what we’re in to be someone who’s trustworthy, competent with very high integrity. Like you and I talked last week and I told you, I was like, Hey, I can’t be consulting on a topic that I don’t know about. Thank you for the inquiry. But that would be horribly unethical. And you have to do that. You have to turn down the fast money for the long-term play of having high integrity.

Speaker 3 (12:18):

Yeah, no, a hundred percent. That’s really good. I think that’s consistency, solving the problem for today and then getting the message out. So those are three steps there. And I think that’s where it’s like, it’s so simple, but it’s like that number one, you got to do it consistently and you got to move to where the market is. So I think that’s really good stuff because I can’t agree more because I think, do you think that a lot of real estate investors build themselves into a box and then when that solving the problem of what they used to do doesn’t solve it anymore, that they have a hard time pivoting to something that will and bring the revenue? Yeah,

Speaker 1 (12:57):

I mean you have your fast movers, your highly networked people who are poised to move, but for anyone who doesn’t want to hustle 24 7, it’s hard to pivot like that. I mean, at some point, I think human beings, we all want consistency, predictability. And one thing that’s really tough about this business, and I’m sure everyone notices, is how fast paced it really is. Now, if we were in the paper business, for example, David, how much do you think things change? Speaking of office space or not office space, the

Speaker 3 (13:35):

Office office,

Speaker 1 (13:36):

Yeah, yeah. I mean if we’re a paper company, how often do you think the industry changes? Right.

Speaker 3 (13:42):

It doesn’t really change. I don’t know.

Speaker 1 (13:44):

I mean maybe a paper guy comes and messages us and said, oh, you wouldn’t believe.


But it seems like from the outside looking in that real estate, every day there’s some new gimmicky stuff and you’re just like, I can’t handle this. I need to step away because I can’t handle one more gimmick. I can’t handle one more big change. It’s difficult. And so I think knowing the fundamentals, because I know people who make big money just using a yellow pad for their CRMs still, and some of these people are big names, and I don’t think he’d mind me saying, Adam Johnson, Leon Johnson’s son, he does a lot of deals just using a yellow pad. Courtney Frickey, she has her paper leads that she keeps in a file and only goes through them if she needs to. So a lot of these gimmicks just really aren’t the real deal. The real deal is not necessarily what software you’re using, it’s where are we in the market, are there more deals than money or is there more money than deals?


Those are really the main two shifts that if you pay attention to those in the market, you’re good. And people was like, oh, I do this with AI and I do that with ai. I haven’t seen AI do anything really amazing except for Google search type stuff. I mean, I’ve listened to the AI calls and they’re still not that great yet. And I keep hearing people say, oh, AI is going to be doing our acquisition management soon. Well, yes, true, but when I haven’t seen it yet and still, which problem is it solving the low money problem or the low inventory problem? And right now I think it’s market to market. It’s kind of like mushrooms and in certain markets we still have an inventory problem and other markets are more of a buyer’s market and we have more of a money problem. So you have to take it market by market, city by city and see which problem are you solving. Those are really the main two problems in real estate. And what I’ve seen is everything else is a marketing gimmick. As someone who does marketing myself, we try to repackage it to get people’s attention, but it’s kind of all the same stuff.

Speaker 3 (15:59):

Yeah, no, that makes sense. So would you say then the people like Adam and the people like Courtney, are those three things that you mentioned before consistent solve the problem for today and then the media and the messaging is that their key to success and as long as they’re consistent doing, what’s really is that or is there something that makes them different just because they go out there, and I love how you said with their CRM is a yellow legal pad, it’s none of the fancy stuff and all that where a lot of people get trapped in that rabbit hole. So that’s where my I’m wondering, yeah,

Speaker 1 (16:31):

Courtney’s really consistent on Instagram and she gets a lot of referrals. And Adam’s been in his market for 20 years, so he gets a lot of referrals. So you talk about consistency, it’s decades of consistency in Adam’s case, and Courtney has been doing it I think for 10 years, and she really gets out there in terms of, she speaks in front of realtors groups, she speaks at rhe, she holds her radio show, and she’s very consistent in her branding. She doesn’t just show herself boating on the weekend or shopping or whatever. And if you look back through her Instagram, you can see that in the past she did have more of showing her personal life. And Connor Steinbrook taught me, don’t show your personal life, just make your entire page about business. But there is one caveat to that. You don’t want to look like one of those VA generated pages where there’s no real person behind it.

Speaker 3 (17:23):


Speaker 1 (17:24):

Looks like a VA just runs my page and it’s just my VA who does everything. So I do post pictures of my family and going to the gym, and if I do go on vacation, I do post that. But too much of it makes people think you’re not available for business. So I would say the golden ratio that I’ve discovered is about 90% business and 10% personal, just to add that speckle of reality that you are a real person and not a va. And I think Courtney does that very well on her Instagram for example, and she doesn’t even have to spend money on marketing. She told me she doesn’t do that anymore. She’s a hundred percent referral based now and it’s taken being consistent

Speaker 3 (18:04):

And she does a lot of creative deals or that’s all she does is the creative type deals. She

Speaker 1 (18:10):

Does kind of everything. I know her to do flips, I know her to do. She’s mostly a buy and hold investor and she will do creative when she needs to. But I think I’ve had a lot of clients come to me over the years and try to curate a marketing plan where all we do is creative for them. And that is really tough. You’re going to have a low ratio of being able to do that. Typically creative should be something that comes organically from time to time. If you make that your only goal, and this was a guy with a lot of money, by the way, the one I’m thinking of. He had so much money, yet he was super focused on just doing creative. And I understand if someone has no money and they’re just focused on doing creative, but they get it in their head that this is the way to do it and there is no the way to do it.


You have to just solve the problem of the current seller who wants to sell, whether it’s a listing, whether it’s innovation, whether it’s a flip, whether it’s a wholesale, whether it’s long-term buying hold subject to seller finance, and anything else I’m missing in there. It shouldn’t just be, oh, I’m going to pull this list and I’m just going to do ovations or I’m going to do this campaign. I’m just going to do subject two. You need to just be able to solve the seller’s problem and just start with one, this is something I’ve taught for years. Just start with one exit strategy that you’re really competent in. And then once you master that, expand from there, and like you and I talked about, it’s who not how you don’t have time most likely to master all of those. So have a referral partner that you can build a relationship with and trust for innovations for subject to maybe even for seller financing or maybe master two, but mastering all of the above would be insanity. Even if you had been doing this for 50 years like Leon Johnson, that would be insanity. So be ready to leverage joint venture partners that you can trust with the right paperwork behind it. Of course.

Speaker 3 (20:02):

Would you say that if you go down that road, can you build a business like that? Meaning where a business is systems and other people where eventually you have a business that runs itself or runs it with the people in the processes you’ve put in place. It seems like with real estate, like you’re saying, I have to solve the seller’s problem right then and there. So it almost sounds like you need at those higher level people, you can’t just get the McDonald’s line worker that’s there or the robot or AI or something like that. That’s

Speaker 1 (20:33):

The challenge that I’ve run into. And I feel like conceptually it can be done, but then in psychology we have something called channel factors, these little things that get in the way of what sounds good on paper. And that’s usually where the human element comes in because I have staff of 180 people in my agency and I’ve learned little tricks to managing them. For example, this is going to sound weird, I don’t do company meetings because I just meet with them as I need to. I do spend a lot of time with them upfront, maybe a few hours, and then I never talk to them again except to tell them when a job has come in. And if they need more than that, they’re probably not a good fit. And I don’t do group meetings because I’ve had them all group up against me in the past to raise wages, basically wanting to unionize whenever my clients can’t afford that.


And I said, I’ll let the whole company burn down before I let you extort me in this way. And I did. And I did it privately. I didn’t tell anyone. I didn’t go public about it, but I just stopped the company for six months and just traveled. And it’s like I have plenty of money. And then they were suffering. And then once I was done traveling, they were like, Jen, please, please, I’ll come back. So who would think that there’s a human variable of needing to stop people from organizing against you, or it’s like Adam Johnson says, you have to make sure that you’re always in the way of a deal in order to get it done. So that’s why you can’t fully replace yourself for the most part unless you sell the company, is because at some point somewhere you need to add value. And yes, you can have an integrator, and yes, you can have a CEO, and yes, you can have a CFO, et cetera, but if you notice even in a C class corporation, you still have shareholders.


The shareholders are still in the way in some way because they own a part of the company. So no matter what, you have to make sure that you’re in the way of other people just taking over completely what you do and just pushing you out. And so that is the challenge. That’s where replacing, that’s what no one talks about. Everyone wants to sell these sexy business models where you’re just on the beach or whatever, but at some point you have to put yourself between yourself and someone else to make sure you’re still adding value or you’re just going to get pushed out. So another example is, I mean, you can just live like my older gentleman, friends who just own a bunch of mutual funds and they don’t manage anything. They just collect checks from the dividends, but you have to have millions in order to achieve that.


Lemme tell you, those are the people who have the most passive income that I’ve seen, and I know this is an REI podcast, but what’s great about real estate is you can start with a relatively small amount of money and then with appreciation, leverage that into millions, and then you can become the mutual fund, the note owner or your kids can get your portfolio, but it’s not as passive as just having your mutual fund dividends come in and as know the stock market goes up and down where rents typically, there’s not as much fluctuation in rents as there is in the stock market. And so all that being said, going back to what you asked, whenever you’re managing staff, there’s just going to be all these psychological factors that are not going to present themselves on paper with your staff is always the biggest challenge in running a company.


And so that’s why I don’t do company meetings because that’s whenever people get together, and pardon my language, I think it’s a poignant word. They start bitching and then that causes morale issues. All it takes is one person to start griping and then morale goes way down. And I don’t care how well you run your company, I don’t care if you are like you have in the background, I don’t care if you’re Mr. Rogers, as soon as someone starts griping and it takes hold, it’s game over. This doesn’t work if you run a brick and mortar business. But I have doctor friends, for example. They run brick and mortar businesses, and one of my doctor’s friends two weeks ago, his entire staff just walked out. They’ve been with them for 20 years and they couldn’t have organized like that if you keep them separate. If you’re running a virtual business, that’s one of the benefits is you can manage your staff. And I tell you, that has made my income extremely passive.


So if you take nothing else away from this by keeping my staff separated, I have generated true passive income for myself because all I do is bring the jobs, bring the clients, they work the clients, and then they do a good job and then I’m out. The only thing I have to do is keep bringing in new clients because there is always going to be some small amount of attrition no matter how good of a job you do for various reasons. So yeah, if you have a virtual business, keep your staff separate and that way they’re not coming together. And it’s amazing how peaceful things are. I have no drama. I have no complaints. I’ve known go well. so-and-so did this, and so-and-so said this, and so-and-so gets paid this and I want to get paid this. It’s like I have literally zero drama in my agency with my staff now, and that has just been amazing.

Speaker 3 (26:03):

Yeah, that’s the first time I’ve heard it put like that of keeping separate in that you don’t run meetings and you don’t get them together, which is very anti, a lot of the books out there and a lot of those systems and stuff that have the organizational meetings and that type of stuff, level 10 meetings or the level 10 meetings and all that, that goes along with it. So I love hearing a contrarian viewpoint, especially for someone who runs a virtual business like that and who’s gone through almost like you said, the utilization of that type of stuff. Yeah, I’ve been this for

Speaker 1 (26:37):

Six years, and so that’s enough time to where you’ve passed some task, kissed a lot of frogs and had every problem under the sun.

Speaker 3 (26:44):

Yeah, yeah, no kidding. So that’s very interesting. Well, this has been a lot of fun. I love the answers that you’ve given. I think there’s some really good value there too with being consistent, solving today’s problem and getting it out there, being consistent of getting out your message as well too. I also like that what you just went over that was so contrary to what other people say. That was really an interesting take. I want to, and I

Speaker 1 (27:10):

Would bet you my headaches are much smaller than theirs,

Speaker 3 (27:14):

Probably. Probably. I mean, well, most people have the headaches in business, and if you just have less than them that it probably wouldn’t take much if you just had just that many less. So that’s great. I love hearing that. What I wanted to talk

Speaker 1 (27:29):

Authentic draws better clients too. I did want to share that because I know I went on a bit of a rant and a ramble about that, but let me be pointing on one point is that by being my real self, David against my business advisor’s advice, the clients I have now, I have no drama with and I don’t know why I’m not smart enough, I guess to know why. But the ones who come to me whenever I’m going through times of being very authentic and just really sharing whatever it is, whatever business problems or personal problems that I may be facing and how I’m overcoming them, I get so many people, like you said, who may not do business immediately and it scares off a lot of people. But the clients who do come to me, we have no problems, no drama. They don’t blame me for a lack of success.


They just come in, show up, close their deals, and they stay long-term customers. So that is one benefit is I get fewer clients, but the ones that I do get, I have zero drama with, and we’re so simpatico that I work hard to make sure they’re successful and they don’t. Whenever I was being inauthentic and getting a lot more clients, we don’t have meetings about Jennifer, why am I spending this money and not getting any deals and then this, and they’re just being very nitpicky, but clients where I’m my authentic self, they come in and they just close deals, David, we don’t have to have awkward meetings that make me feel like crap about myself, feeling like I’m not really actually helping anyone and I’m just charging money and nothing’s happening for them. They come in and they’re like, Hey, Jen, I did this deal. I did this deal. Your staff is great. And so that was a crazy change to me. I thought, this is self-destructive behavior being this authentic, but I just felt compelled to actually help people. And then these clients are the most low maintenance clients I’ve ever had. So I would be curious what your take is on that in terms of why is it being authentic? First off, it’s interesting. It draws in less clients, but the ones that does draw in, I have zero drama, zero problems with, and they stay with me forever,

Speaker 3 (29:36):

Which is funny because what you’re describing now is in those books that tell you to have the meetings, it’s like it’s your core values. It’s the values that are shining through that. It’s people that resonate with you as a human being. So usually they’re going to be the ones, especially if you’re being authentic and being open and honest and sharing values that are just as a society, we look at and say, it’s mature what you’re doing. You draw those mature people in, so it’s like they’re going to be the ones that sit back, they do the deals, they get it done, and then they come to you and they be like, yeah, let’s keep moving forward. And that’s the low drama because projecting that out there as well too, just from what I can observe right there. But I really like that because very much of if you’re going to be yourself, you might bring in less, but you might bring more of the people that you want to work with. That’s what I took away from makes income

Speaker 1 (30:26):

More passive because that is always my goal. Low drama staff, low drama clients where we’re just doing deals. I’m providing excellent staff who are going to make sure that you’re getting in front of as many people as possible for as little money as possible, talking to those motivated sellers, getting good prices on data, getting good prices on your loans to close your deals, and just keep it simple. There shouldn’t be any insanity. There shouldn’t be a lot of complaints and craziness. And that’s not to say there’s never problems, but when there are, it’s like, Hey, Jen, we need to have a meeting because this caller’s gotten a little too lax and they’re just becoming too rote and they’re going through the motions too much. I had to have that call three months ago, but guess what? He didn’t leave. He didn’t blame. He said, Hey, let’s just fix, let’s just fix their script.


And so I told her, I said, Hey, you’re one of my best, and maybe you’re working too long hours. Maybe you need to take more breaks. Maybe we need to load you up with fewer clients because instead of listening to the seller, you are kind of just pushing through the script. I said, someone who started out cold calling myself, I noticed I would do that towards the end of my shift. And I said, so let’s just be aware that that’s what’s going on. But I didn’t blame or shame her. I just said, Hey, because I was sitting in that seat myself for so many years, David is a cold caller. I know what problems they face, and it makes me a better manager for them. And just say, Hey, it just sounds like you’re getting a little tired. And so take a 30 minute nap, take an hour nap and come back and you’ll see how all of a sudden, instead of just pushing through a script, you’re really an active listener.


But that’s the only problem client meeting I had to have in the last six months where before God, David, it seemed like it was every day. People were just pinging me with this is a problem and that’s a problem. This is a problem. And I think that’s what led to my heart attack last year at 38 years old, was just having all these clients with all these complaints and it was just driving me crazy. And now I don’t have any of that. And so just sharing my experience, whether it’s true or false or somewhere in between. It’s just my anecdotal experience.

Speaker 3 (32:36):

Well, no, that’s really good. I wish we more time, but I’m going to land the plane here. We’ll have to do another episode too about how you got through that and coming out on the other side. But if people want to get ahold of you for your cold calling and what you’re doing there and how would they get ahold of you if they want to start to work with

Speaker 1 (32:54):

You? Yeah, whether it’s the cold calling or like I said, the loans where we’re offering a hundred percent financing on both the rehab and purchase price. If they’re my cold calling client, they can just email me at jen, JEN at rre I data source.net. I’m also a really brave person who gives out my cell phone because as a cold caller, I’m not afraid to call you. You

Speaker 3 (33:18):

Can call me,

Speaker 1 (33:19):

I may think you’re a spam call and answer a little bit briskly, but my cell phone is (469) 952-8011. Feel free to call me there or Jen at REI data source.net.

Speaker 3 (33:32):

Cool. So that’s how you could get ahold of Jen, and that’s the email. And she gave your phone number as well too, so you could call her in and say, Hey, hey, just wanted to see if you answer the phone. I’m sure you will. Like you said, who does that? Right? Who? Their cell phone. Cell phone. And then who does that? And then actually answers too. I feel like today’s age, please go to voicemail. So that was good stuff. Lots of valuable information here, stuff that you could take and I think implement right away to become these type of people out there that are consistently successful. And that’s one of their keys to success is being consistent in solving today’s problem, building the message around that as well too. I really liked your insight of the type of client you draw in when you are your authentic self versus where you might get more, but it might be more headaches if you are not. So it’s like just lots of good practical things today. So that was a lot of good stuff. Thank you for sharing, Jen. I really appreciate all that you did here today.

Speaker 1 (34:26):

I appreciate it. David, thank you so much for having, thanks for asking great questions.

Speaker 3 (34:30):

And I wanted to say too, if you’re listening to this and you’re like, oh my gosh, I’m not making enough or whatever, first of all, call Jen, you can literally call her. She gave you her number. She can help you make more money if you need to keep the money too. If you’re like, I have no idea where my money’s going, don’t know what my overhead is, don’t know how much I’m making, how much I’m keeping, or I want to keep more, you can reach out to us@simplecfo.com. We want to help you get at least that stuff in place because if you don’t have any idea, you’re not running a business. So that’s where I want to help you at least be consistent in knowing where your money’s going too. That’s another consistency factor as well too there. But Jen, again, thank you so much for coming on and sharing, and if there’s anything that you need from Jen, you know how to get ahold of her. She gave you the email address and her phone number. Again, thank you so much for coming on today.

Speaker 2 (35:17):

This episode of The Profit First for REI podcast is over, but there are plenty more where that came from. Are you ready to learn how David and his team can help implement the Profit First system in your business? Schedule a discovery call@simplecfo.com right now. We’ll see you next time on The Profit First for REI podcast with David Richter.