00;00;09;21 - 00;00;27;00

Unknown

Welcome to the Profit First for Real Estate Investing podcast. Every week we bring you top investors and experts sharing how they create clarity, cash flow and consistent profit. This episode is brought to you by simple CFO. Profit first. Profit always. Lets go.

00;00;27;02 - 00;00;51;16

Unknown

I realized man, this system helps weather the storm not only just be prudent during the good times, but it's it helps. I see it as like storing grain for the winter, you know, and we're in a real bit of a real estate winter right now. And it's cyclical. It'll always bounce back. It historically always has. But it makes sense to store some.

00;00;51;16 - 00;01;17;03

Unknown

So that way when there's a cold season, like right when I migrate back to Brazil, we've got some, runway to help make sure we can get the business run again. And it worked. I mean, we had to use it, but I'm glad we had it. Everyone, welcome back to the Profit First Rey Podcast. Have Jared Franco on today, which I'm super excited because this is someone who's implemented Profit First for years and been in the real estate space, I met him at a mastermind.

00;01;17;04 - 00;01;33;20

Unknown

This is the power of networking and going out there and putting yourself out there and really finding the people that are like minded with you. So I definitely found a believer in this system. So Jared, thanks for being on the podcast today. Absolutely. Thanks for having me. It's good to see you again. Yeah, it's good to see you.

00;01;33;20 - 00;01;54;10

Unknown

And that's where, like I said, we met at a mastermind or a little event there in Nashville, Tennessee. And if you aren't getting around other real estate investors or people that are successful, like that's part of the success formula, is having people in your life that are helping you on this journey. And Jared, how long have you been in real estate up until this point?

00;01;54;12 - 00;02;17;19

Unknown

So March 2019 was when I started my business. So we're smack on seven years right now. Seven years. Awesome. So and what kind of exit strategies do you mainly do? Yeah. So I had always wanted to buy and hold and own lots of rentals. I love that idea. Yeah, and I stumbled into wholesaling on accident because I didn't have any cash or credit or anything back then.

00;02;17;20 - 00;02;38;17

Unknown

And so now that's been our driver, you know, we'll we'll assign contracts and then now, of course, we by building a small rental portfolio and growing that steadily. Cool. And then we fix and flip to whenever we find the the right deal. Yeah. Man, I can't believe that. March. I don't remember exactly which day, but March 2019.

00;02;38;17 - 00;03;00;24

Unknown

So we're right on seven years. Yeah, sometimes it's crazy when you think about, like, how long you've been doing something. And especially it feels like in our generation where it's like most people don't stick around for more than 2 to 3 years in something and you say, oh, dang. It's been like, you know, and for me this year, this is our seventh year coming up in August of simple CFO and all the profit first stuff and everything.

00;03;00;24 - 00;03;16;09

Unknown

So that's pretty awesome. You've been doing this for seven years now. You said you've always wanted to do buy and hold. I have to ask, was this from parents? Was this from Rich dad? Poor dad? Was this from I don't know what what's. Yeah, I hit the nail on that with the rich dad. Well, I've always been interested in real estate.

00;03;16;10 - 00;03;35;27

Unknown

Ever since I was very young. I remember even as a kid watching the HGTV channel. And back then, it wasn't like home flipper. Yeah, mine still houses. It was like how to build a raised garden bed or how to like the wind. It was all like guides on stuff, but I thought that was so cool. I thought, man, I wonder if I could ever get into that.

00;03;35;29 - 00;04;01;11

Unknown

Even as a kid, I remember thinking that I've got a degree in mechanical engineering, but I was at my internship. It was six months before I was going to graduate. I had an internship at an H vac company and doing CAD work, you know, just 3D modeling and yeah, blueprints and stuff like that. And I was listening for something to or looking for something to listen to while working.

00;04;01;11 - 00;04;21;04

Unknown

Stumbled on Rich dad, poor dad, and I kid you not, I stood up and had goosebumps across both my arms. I thought, oh my gosh, this is not what I want to do. Like six months away from graduating, I went ahead and finished. Yeah. And I ended up doing had an opportunity to do some campus ministry for a couple of years.

00;04;21;04 - 00;04;51;19

Unknown

So I did that and but then March, long story short, I moved back to America. I did did campus ministry in Brazil and moved back to America and did. Or in January of 2019. Yeah. And thought, you know what, I, I spent my last money, so I was living on $500 a month. I'm not trying to go too deep in the story, but I was living on $500 a month back then and abroad.

00;04;51;20 - 00;05;07;24

Unknown

Spent the last money I could have come back to America and had nothing. I mean, I had my car parked at my dad's house, but, so I thought, well, if there's ever a time to get in this real estate thing, I might as well start doing it now. And I was just listening to a podcast and reading books and stuff over the years.

00;05;07;24 - 00;05;31;09

Unknown

And you know what I've learned about about this enough. But let me start doing it. And I remember I would the price of gas determined whether or not I could go do anything. So I would drive to the middle of the neighborhood and get on my skateboard and just try to find houses. Wow, that are beat up. And I would write it down on my phone and that's that's how we got started.

00;05;31;09 - 00;06;01;29

Unknown

That was a long time ago, man. That's crazy how fast stuff changes. Yeah, I never would have imagined I would own multiple houses and and have flipped in anyway. Just income. That blows what I would have made it as an engineer out the water. Yeah, that's so interesting, because sounds like you just had to I don't know what is that guerrilla marketing like just out there just getting it on the grassroots and just like literally on your skateboard going out to I had no clue what I was doing.

00;06;02;05 - 00;06;16;29

Unknown

I had no idea what I was doing, I just knew. Hey, these beat up houses probably are the ones that are going to get a good deal on. And I would go back and I had this little spreadsheet on my phone. I would go back and then write them a letter. Hey, I love your house. Would you ever consider selling?

00;06;16;29 - 00;06;41;03

Unknown

I would just buy some stamps and seeing them, I mean, so basic. After three months of doing that, someone responded to me an email and I about just jumped out of my chair. That's awesome. And sure enough, we closed it, man. So. And was it profitable? Was it a good deal that first one. Yeah, we made a little over 95, 95, 50.

00;06;41;04 - 00;07;04;03

Unknown

So 95 just short of 10-K on. Yeah. On my first it was a wholesale deal. Yeah. And and it worked. I couldn't believe it. Right. That first did it's like okay I could do this. So I did want to ask before we go further down your the future in the path that you took. Do you think that campus ministry in a different country helped you with the grit and determination of real estate?

00;07;04;03 - 00;07;21;18

Unknown

Or do you think like this is who you've always been? You've always been mentally tough and you would just get you would do that no matter what or like, I don't know, I'm very interested. You lived in a different country and especially doing something like campus ministry, which I'm sure I don't know, that just seems like an extra layer of mental, you know, like mental toughness.

00;07;21;24 - 00;07;48;08

Unknown

Yeah. I've always liked to do what's challenging. Okay. And it's always been there. And so if it's something that's if it's too easy I get bored, which is kind of my problem in business. I keep chasing the, the shiny thing because when it's repetitive and easy, but I always like something that's big and challenging. I think the, the benefit that I really got from doing the campus ministry in a second world country.

00;07;48;09 - 00;08;13;04

Unknown

Yeah, living on very little was learning how to be completely fulfilled and happy when it that's not tied to money. I know we're on a financial podcast, but like I learned how to be thrive and be happy sharing a house with six guys who none of them spoke English. When I spoke Portuguese a little bit, most of them were from Spanish speaking South American countries.

00;08;13;06 - 00;08;38;01

Unknown

Anyway, we like 6 or 7 of us in this house, you know, roommates, the whole thing. And I figured out how to be happy and thrive in an environment where there was no air conditioning, no comforts that we have here in America. And I think that was the key, is learning how to be very grateful for wherever I am and realizing I can.

00;08;38;04 - 00;09;00;28

Unknown

My future depends on me, and I can do whatever inputs I need to improve it. But I think if we kind of just have like this blaming all, it's my life, is this because of that? And I can't this because of that. It's kind of having a victim mentality. I don't know if if I would have had that mentality, if I've ever would have got started, but not just be grateful with wherever you are.

00;09;00;29 - 00;09;24;28

Unknown

I mean, even now, there's still financial goals and things I would like to do, and there's frustrations, but I'm so grateful for what I have. I mean, I can't believe how far things have come. Right? That good book. Right? The gap in the game. Most of us measure that gap when we forget how far we have come. And even you and I, talking about seven years down the road, it's like, wow, seven years ago, it did not look like it does today.

00;09;24;28 - 00;09;44;19

Unknown

And we have those. It sounds like you matured very quickly on that campus ministry in a different country because I think, well, let's be honest, I'm running the prophet for sorry I podcast. I talk to people who don't really who would never share the stuff they share with me out in public, you know, like talking about their money and their finances.

00;09;44;19 - 00;10;01;26

Unknown

And a lot of them. It comes back to that. I know you said, well, this is a financial podcast, but it really comes back to are you content with what you have? Because like, we have to get to their first because just because you think more deals solves all the problems, it really doesn't. You know, it's like we it just kicks the can down the road, kicks the can down the road.

00;10;01;27 - 00;10;18;06

Unknown

Exactly. And so I love hearing that from you. And I love hearing that from someone who found it, you know, younger than most people do, where, you know, a lot of people are kicking that can for a very long time and they're like, oh, shoot, you know, that can that I kicked years and years ago was probably good enough.

00;10;18;06 - 00;10;36;06

Unknown

But Paul says that right with that, what wherever you are, whatever state you're in, to be content. Yeah. Yeah, exactly. And that's where a lot of people don't get to that point. Well, I love that. I love hearing that from you, because it sounds like when you came back, your expectations were pretty low. Like you could live off of 500 a month.

00;10;36;06 - 00;10;54;01

Unknown

You could, you know, live with people and live with 6 or 7 other guys in a house. It's like your expectation, like there was nowhere to go but up. It sounded like. Exactly. I thought what you were doing and what do I have to lose? Right. Yeah. That's big. I figured out how to eat on $25 a week.

00;10;54;04 - 00;11;02;00

Unknown

Wow. I would get I would go to Walmart because I had no money. When I came back. Literally nothing. And I.

00;11;02;02 - 00;11;24;19

Unknown

Get chicken and rice and ate like a bodybuilder. Basically chicken rice and made some broccoli. Yeah. Drink water. And I would have a like a quarter cup or half cup of oatmeal or something. So that way I could conserve as a little bit of money to buy some stamps. I mean, I thought it was crazy, like, man, I'm sending off $300 of mail that I all hand wrote, bought the stamps and stuck them on there and everything and paid for the letters.

00;11;24;19 - 00;11;42;08

Unknown

And I thought, man, $300 would be a life changing amount of money for me right now. And I was throwing it into the mailbox. Remember having this big block of these bright blue envelopes and I just threw them in the mailbox thinking, man, I'm just throwing the money away. But I thought, I've seen I've listened to so many podcasts or read books.

00;11;42;08 - 00;11;59;21

Unknown

I've heard so many of the success stories of people sending mail to find houses. And I'm like, I'm going to try it because what do I have to lose? Yeah, you know what I believe I, I didn't have this fear of like, man, what happens if it fails? What happens if this, you know, what am I going to do?

00;11;59;22 - 00;12;16;10

Unknown

I just remember thinking like, this is going to work. I just got to show up. Like, I'm just going to do it. Yeah. All right. I have to pause the episode real quick. If you're a real estate investor who's tired of wondering where your money is going or why you're closing deals, but still feeling broke, you need to talk to simple CFO.

00;12;16;11 - 00;12;37;13

Unknown

Simple CFO is Profit first certified and fully endorsed by Mike McCall. It's the creator of Profit First himself. Our team specializes in helping real estate investors finally get control of their cash flow. So you keep more money, you pay yourself consistently and build a business that doesn't run on chaos. We'll help you implement the profit first system the right way.

00;12;37;14 - 00;13;04;17

Unknown

Set the financial processes you've been missing and give you a dedicated fractional CFO who actually understands investing in keeping track of your numbers on flips, wholesales, rentals, private lending, all of it. So if you want predictable profit instead of living, deal to deal, head over to simple CFO and book your financial clarity. Call today. That's simple CFO. Com stop living in confusion and start keeping the money you work so hard to earn.

00;13;04;18 - 00;13;23;07

Unknown

Now back to the episode. That's awesome. I don't remember what book it is it? Man, I forget who said it, but money lives on the other side of fear. Maybe in a branded turner. Think for maybe I. I feel like that's gone quite a rat. You know our circles for sure. Yeah. No, I well, in the original one.

00;13;23;07 - 00;13;42;11

Unknown

Right. That's the, the thousand faces or whatever. Your what you want, your treasure that you seek is in the cave that you fear to enter whatever it's like. So that's where a lot of people don't want to go down that rabbit hole, especially with their money, it seems like. And that's where a lot of people, they just whatever they want is on the other side.

00;13;42;13 - 00;13;59;19

Unknown

That's an incredible start. Okay, I want to now skip from day one and you're doing that to where you are now. And then I want to fill in the pieces like the middle part. So like, what are you doing today? What do you own I'd like to see like what's book this. And then we'll talk about the meat in the middle.

00;13;59;21 - 00;14;21;00

Unknown

So funny story. I'm actually now living in Brazil again. Oh wow. It's a bookend. It really is a bookend right now. It's not because I preferred to, but I've been my wife. I just got married two years ago. I've been trying to bring my girlfriend then to America since 2021 and have had no luck. It's so hard to get her in the front door.

00;14;21;03 - 00;14;40;07

Unknown

We're not going to get political. But yeah, long story short, the best course of action was to move back to Brazil, marry her, and then just sit and wait. I thought it'd been an eight month process, but now we're going on almost two years. Oh, wow. It's just so tough, dude. Yeah, but anyway, so I'm back in Brazil.

00;14;40;09 - 00;15;03;08

Unknown

Thankfully, I learned how to be grateful with the way of life there. No air conditioning, slower pace of life, function systems. You know, public systems don't work as well. But anyway, I love it there. I, I love America way more though. But anyway, I love being with my wife. She's my home. But I'm back in Brazil, and she is.

00;15;03;08 - 00;15;25;13

Unknown

She really is I. But thankfully I've got my real estate business and my rental portfolio actually was able to fund all my living expenses in Brazil. Awesome. I could not have moved back because I still have to keep my American life afloat. So today I'm actually in Texas. Right now I go back and forth once a quarter. So last time I was in America is when I saw you and it happened to line up.

00;15;25;20 - 00;15;49;09

Unknown

Yeah. So awesome. Anyway, yeah. So I've got, we just bought one, we've got six. I own six houses in my own entity, and then we have another eight that I own in a partnership. Yeah. This one I'm standing in now. I've got 0% interest over 16 years. I mean, crazy good terms that we've done a number of deals like that.

00;15;49;10 - 00;16;10;08

Unknown

We always buy either heavily discounted or heavily favorable terms. So I've never had to put any of my own money to buy a house. I mean, just all the stuff that's in the all the real estate books, right? Yeah, I hope that answers. Yeah. I just wonder where you where you are today. Like how many deals and all that just because of where you came from and like taking your risk on yourself.

00;16;10;08 - 00;16;36;13

Unknown

And it sounds like it's paid off. It's fun to Brazil. It's fun to, you know, like going back and forth. It's fun and masterminds. It's fun to like the deals that you're doing. So yeah. And I, I, I'm so grateful that we had the success we did because whenever I moved back to Brazil, there was a lot of unforeseen changes that I just didn't expect the the friction.

00;16;36;16 - 00;16;57;05

Unknown

Yeah, timing and running a business abroad. And so we actually suffered quite a bit financially trying to figure out how to get the business running. Yeah. But if I wouldn't have had the, the systems in place to make sure we're profitable first, I think we really, really could have gone down a bad road. So anyway, I it works.

00;16;57;06 - 00;17;18;17

Unknown

Yeah. I can't tell you putting the tax, putting money aside for tax in an account that I just don't touch. I just don't have to think about it. When it comes down to just stroke the check and go, I'm not work property tax the same way. That's awesome. So it's such a healthy system. So then so then let's talk about that.

00;17;18;18 - 00;17;38;02

Unknown

We talk about the book end. So what prompted you to even read that at the beginning or like it's which is funny because it's you had the mindset of profit first before you had the systems. It sounds like like you had the I need to put the first things first. And you know, it's a priority and you can live off little and like you can do what you need to.

00;17;38;02 - 00;18;05;06

Unknown

But then the system had to be introduced to you at some time. So I'd just like to know that story. Yeah. So I, I think I found the Profit First book sometime early 2020. Cool. So I had only been in business, maybe again, not very long, but because of how I had to stretch just a couple hundred dollars a month, I was very granular and and how I managed my money.

00;18;05;06 - 00;18;24;17

Unknown

And so I even had to think, well, how am I going to pay taxes to this and that? How am I going to fund this? So I had when I got back, I continue doing campus ministry in America for, for about a year. And so that was a contract 1099 job. And so I had to pay taxes out of that and I had to manage it.

00;18;24;17 - 00;18;54;26

Unknown

And so I think I at least had some thought to not wait, but just set aside money each time. So that way I'm okay. I had that thought just naturally. But then I came across the book and it gave me like concrete systems, like the multiple bank accounts, and I'm like, dude, this is amazing. I can just shuffle it all over there, and then whatever's in like whatever's in my owner drawer account, I can learn to oblivion on whatever I want to end up matter, because everything else is already.

00;18;54;27 - 00;19;17;08

Unknown

Yeah, yeah, yeah, yeah. Because. And I love what's in the book. It talks about me naturally make decisions based on how we feel. Right. On what? What is that number of the bank account? And what if it's just one account for everything? Yeah, I'm just making it up ten grand in this account. But actually, I've got a, you know, 2000 a month or 2000, a payment here.

00;19;17;08 - 00;19;39;04

Unknown

I've got to pay this big bill that's coming, this and that. You really have $87 to spend, but right, ten grand says, oh yeah. So you do all that. So I, I'm like, man, I don't ever want to get in that situation. So I found it early. You asked what was my life before. I honestly didn't really have.

00;19;39;06 - 00;20;05;21

Unknown

Different thankfully. Right. It sounds like you were into it and you had some good habits already with money, and then you found it pretty early on in the business to, you know, like a year or less into it, which is great. And then you put those systems in and sounds like all this journey, it's helped you and saved your bacon a couple times or, yeah, the tax account or just not having to think about it because that's I actually interviewed someone else earlier today, and that was one thing that you guys said the exact same thing.

00;20;05;22 - 00;20;24;12

Unknown

Like, I don't have to think about it. You know, it's like it's not now. It's more of a system or something like that. So it sounds like that's helped a lot. Yeah. Don't have to think about it at all. And even like I bought another house and how the time of year you buy it and this and that and like, man, did I have enough to be able to cover the property taxes.

00;20;24;12 - 00;20;29;07

Unknown

And sure enough, it worked out perfect. I just.

00;20;29;09 - 00;20;50;02

Unknown

When like in a W-2 world where your taxes are basically pulled out for you and you find it, I guess you don't have to think about it then, but you're also basically loaning a good chunk of your money to Uncle Sam for most of the year, right? For pennies. And anyway, I thought I could better utilize those funds.

00;20;50;02 - 00;21;12;28

Unknown

So I'm so glad to be where we are. I at this point, I think I'm on high. I love seeing a business owner and I love keeping track of that stuff. And now I've got a relay bank where they have it set up profit first for you. So you have just like you, you put your wires or whatever money comes in, and then on the 10th and 25th, it just auto distributes everything.

00;21;12;28 - 00;21;31;05

Unknown

I even have to think about it less. Before I had it locally and I had to the transfers and everything. I will say though, I have to admit I did. I broke one rule, which is put your tax account at a faraway bank. That you sure? Yeah. I never did that. I'm like, I can just turn it off in my settings and I don't even see it.

00;21;31;06 - 00;21;44;27

Unknown

Yeah, so that's what I did. I'm not saying it's the right thing, but I was disciplined with it. Yeah, I think that's the big part. The big part of that piece is like, do you know you're going to touch it or not? And if there's other things you can do, which is great, and what you did, what worked for you?

00;21;44;27 - 00;21;58;29

Unknown

I just tell people, you know, when it doesn't work, when you don't work the system, like when you're not, when you're not doing transfer, so you haven't set it up because you're thinking all that and sounds like this has served you during your tenure as a real estate investor, because now you're able to see where all the money's going.

00;21;59;00 - 00;22;18;02

Unknown

It gives you how about clarity? It gives you that clarity as well too, if you're ever looking at it. So that's another thing that people bring up. Throttling the income is very helpful. So where you, especially in an industry like real estate where you get a big windfall amount of money, but yeah, you may it may not happen with the frequency of like every week or something like that.

00;22;18;04 - 00;22;37;25

Unknown

Exactly. And so throttling the income is very helpful too for a number of reasons. One is so that you don't overspend to you. You spread out your time so you can emotionally not just think, man, I've got ten grand or whatever. I got to close a $30,000 thing. Let's just go celebrate or something. When I wait for the 10th 20.

00;22;37;26 - 00;22;59;13

Unknown

This is the two dates we've picked. When I wait for the 10th, oftentimes I'm like, all right, yeah, that deal. Close them on to the next one. And so you let it hang out. And so that's helped keep motions in check. But also with how the real estate industry is right now it's very depressed. It's not as hot as it was post-Covid.

00;22;59;16 - 00;23;16;03

Unknown

Right. Or during Covid when it was crazy stuff. Would just appreciate like fast. You buy a house, wait a month and it would go up 20 k and value, you could resell it. I mean, it was just nuts back then. Now it's not that way now. It's a lot more challenging. You can still find deals. Don't get me wrong, it's just a different environment.

00;23;16;04 - 00;23;42;10

Unknown

And I realized, man, this system helps weather the storm not only just be prudent during the good times, but it's it helps. I see it as like storing grain for the winter, you know, and we're in a real bit of a real estate winter right now. And it's cyclical. It'll always bounce back. It historically always has. But it makes sense to store some.

00;23;42;10 - 00;23;59;28

Unknown

So that way when there's a cold season, like right when I migrate back to Brazil, we've got some, runway to help make sure we can get the business run again. And it worked. I mean, we had to use it, but I'm glad we had it, right? Yeah. The. Where a lot of people don't even have anything. And then winter comes in.

00;24;00;02 - 00;24;18;23

Unknown

Like what? Where did it all go? And now I love that. And I love what you said. Weathering the storm and really having a system, a place that's supposed to protect you for these types of times. And it sounds like you've utilized that and you've used it to the ability of, okay, there is winter and now we've got to use, you know, that stuff.

00;24;18;23 - 00;24;42;07

Unknown

But it's a different question. It's a different question for you okay. We're going to use it. Where are we going to use this. And how are we going to use it. Versus I have nothing. What am I going to do. You know like so it's like a better question that you've given yourself and set yourself up for, which I love because this is where if you're listening to this and you've been following me for any amount of time and you haven't done anything, you listen to people like Jared, like been doing it for years.

00;24;42;07 - 00;25;09;28

Unknown

And it's like, now you've seen Jared, several different real estate cycles, ups, downs now like stagnant. And it's like, okay, I need something that helps to equal it out throughout the year. I think he even said that it helps to make sure that in something that's so cyclical that it spreads it out. So I did wonder that, okay, if you get a big chunk in and you say you kind of throttle it, do you put it in like another account and you just slowly drip it out over a while or like, what do you do?

00;25;09;29 - 00;25;28;13

Unknown

Or you just put in the percentages and they all go to the places. And now you got some reserves in those accounts. Yeah. I don't necessarily throttle it like drip it out, whatever. I let it let it hit on the 10th, you know, talk about twice a month or whatever. Yeah. The rhythms and what, what Mike in the first book talked about was, yeah, in the 25th.

00;25;28;13 - 00;25;47;04

Unknown

That's what we did. But instead of like, man, I closed today being on that high of just like closing a deal and like one of those celebrate man ten grand that go a lot of ways. What I just throw in the count and I don't get to use it until it breaks down. And then my owner draws significantly less.

00;25;47;04 - 00;26;07;08

Unknown

Right? Right, than the 10-K that you got. Well, I'm a little bit more aggressive on because I want to grow the business more. So I'm feeling a little bit more into the business than the recommended 30% or whatever. So I put 50 there, but let's just say so then five K is actually what I have. Well, that's a little bit less of the emotional feeling.

00;26;07;08 - 00;26;27;04

Unknown

And it's been a few days. So I can or two weeks or however long. Yeah. So it helps me manage emotionally to not just be dumb. Yeah. No, I love that. And I'm just so impulsive by nature. Like I, I call people last minute to go do stuff. I, I don't plan a whole lot. I just like to do it.

00;26;27;04 - 00;26;41;13

Unknown

Just personally, I just like to do what I want to do, like, you know, go see a movie, bam, and just go right then and there. I don't plan it out. I don't look ahead. Well, I think I really plan ahead for really well is flights. I've got very good flights. Travel internationally so much. Yep. Now that makes sense.

00;26;41;13 - 00;26;57;04

Unknown

I love and I love that where you know yourself. So it sounds like the system has helped you where you know yourself of like if you just had that one account or if you just you had that bigger hit, you'd be like, oh yeah, let's go do this where it's like, well, no, I'm going to remove the emotional factor.

00;26;57;04 - 00;27;12;17

Unknown

I'm going to have it run its normal course. It's going to go in there and I'll take what I need out of the the one that's mine. But like the other part that's for the business. I'm not touching. It's like it's for the business and and I love it. And you say, well, I'm doing more to grow. And I tell people that's great.

00;27;12;19 - 00;27;44;21

Unknown

Like, as long as you have money for yourself still, as long as you're still profitable, as long as you've, you have intentionally used some of the profit percentages or whatever it might be, or pay yourself percentages to grow the business, that's fine, as long as there's still some there for you. Yes, you're just, and especially if you're going from one level to the next, where I feel like that's a part where I probably could have talked a little bit more in my book of like, it's great when your percentages change, because if you see the target percentages in the book, they, they change from depending on the size of business.

00;27;44;21 - 00;28;01;27

Unknown

So it's like you have to throw more into operational expenses and other types things if you want to hire people. And that so sounds like you've really taken that to be like, okay, I want to intentionally grow the business now. And so I'm putting more towards this, but I still hear you saying you're still paying yourself and you still have the other accounts funded.

00;28;02;00 - 00;28;25;19

Unknown

Yes. It also got to where like especially during that 2020 to 22 time when money was so easy, it got to like I was. I had refinanced the deal and bought the sweet car for cash. Okay. And I'm like, man, I mean, which is cool. Like, I wouldn't have financed it, but I'm like, do I need to spend all this?

00;28;25;20 - 00;28;45;05

Unknown

I'm glad I did it because I bought the sweet car and send my garage right now. Love the thing. Yeah, it's a it's a 22 mark, one Mustang. But, I'm glad I did it because I realized, like, the sweet car doesn't really fulfill me deeply. I mean, it's a cool thing to have, and it's joyful. Deeply enjoyable.

00;28;45;05 - 00;29;06;26

Unknown

Yeah, but it's not fulfilling what's really fulfilling its purpose and and all that. So I thought, man, I don't need what I really want is to not go spend this money up. I really want to grow my business and build it and make a bigger impact. It'd be use. I feel like I was placed on the earth for a reason, and I don't want to squander me as a resource, right?

00;29;06;28 - 00;29;36;11

Unknown

My time is infinite. I'm still pretty young, no. 34, but I. I don't want to just waste. Waste. I want to see what can I do? What's the potential? What? So that's I don't need the extra income. I can okay with delaying some gratification. Yeah. And even then, I'm still living way above and better than I think the typical, you know, average if you just whatever the statistical average is.

00;29;36;11 - 00;30;00;00

Unknown

So I don't need to be doing a whole lot better than that on spend right now. I really rather focus on building and allowing others to enter my circle. I've real estate made me a millionaire, so to speak, with with net worth if you want to consider that in a few short years. And so I thought, man, if I can do this, anyone can.

00;30;00;01 - 00;30;19;13

Unknown

And so I want to help direct. I want to help directly influence hundred people, to also become millionaires, to real estate. So it's like, well, people that come in my, in my business have the opportunity to buy properties discounted through us the same way that I did. And so anyway, I want that outreach to happen and that happens by the business.

00;30;19;13 - 00;30;42;08

Unknown

And so I realized I don't really need to spend on myself right now. We're good, we're happy, and we're anyway. No, I love that. And it sounds like what you've had that theme throughout your life, like once you went through some of the more challenging times and living off $500 a month, it's like you really did learn some deep lessons there that have taught you that when you have money as well too, it's like, okay, what do I really want to use this for?

00;30;42;08 - 00;30;59;23

Unknown

And then having a system for the money, it's like now you can direct it towards those things, towards the business or towards helping people. And it's like as long as your monthly nut for yourself is taken care of, it's like, okay, great, well then I can invest the rest for the things, for your purpose, that passion. And like pouring into what that means for you.

00;30;59;23 - 00;31;18;09

Unknown

That's really what I love about a system like that. It's like money just stops so many people from their potential because they don't know what to do with the money. And it's like, that's the reason they're stopping. It's like, oh man, that should be more of the like the catalyst or the gateway to the things that you want to do and like help you on your journey.

00;31;18;09 - 00;31;35;29

Unknown

But it's like a lot of people let it stop. So it's encouraging to hear from you, Jared, that you've leaned into the system and you've gotten what you want from it, and also you're helping other people as well, even with this podcast. Just help them understand that there's a light at the end of that tunnel. But I'm going to wrap up around here.

00;31;35;29 - 00;31;53;08

Unknown

I just have one more question for you, Jared. Is there any other advice that you give to the real estate investors listening to this or anything else that's helped you and you want to share? Sure. For real estate investors, the deal of a lifetime comes around once a month. So.

00;31;53;10 - 00;32;15;14

Unknown

Stay stay consistent. The systems are are very good when you apply them. So stay consistent. You're going to. Growth is so much easier than we expected. Yeah. As long as we stay faithful to what's working, stay faithful to what's working. Trust the systems and the deal of a lifetime comes around once a month. So just stay the course.

00;32;15;14 - 00;32;32;03

Unknown

That's good stuff. And then, Jared, if people want to get in touch with you on your own social or how can they if they want to. Yeah. More Jared. In my life, I'm on Facebook and Instagram primarily. I don't use LinkedIn or that stuff too much. Yeah, but Jared Franco is my username on both of them, so if you can find me there.

00;32;32;04 - 00;32;56;09

Unknown

Cool. So that's how you can find him. And if you loved this episode because you're like, oh my gosh, my, my, my life is a financial mess and I need some of this in my life. I need profit first. I need what Jared was talking about. You could go to simple CFO. Com we implement the proper system. We also just honestly hold you accountable to if if you don't have some of the things that Jared has built into him, some of this discipline, that type of thing, sometimes you need someone to go and guide you.

00;32;56;09 - 00;33;15;00

Unknown

And if we can do that, great. If you've got some of those things, great. If you just need someone to help you get it up, we can do that. Simple CFO. Com Jared, thanks again for not just this episode, but for the life that you've lived to show other people that it's doable. It's possible. And that profit first is more than just about the money management.

00;33;15;00 - 00;33;36;06

Unknown

But like how you direct that money and like what it can really mean for you and all the cool things you've done with it. So thank you Jared. Appreciate it today. Awesome. Thank you very much David. This is great. That's it for today's show. Be sure to subscribe, review and share this episode. If you're serious about financial systems and keeping more of your profit, visit simple CFO to take your free discovery call today.