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PROFIT FIRST

FOR REAL ESTATE INVESTORS

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Episodes

  • David Talks with Tom Nardone & Tanya Collins

The Networking Event That Changed My Whole Business

November 3, 2026

In this special episode of the Profit First for Real Estate Investing podcast, David Richter is joined by his friends Tom Nardone and Tanya Collins to talk about the Investor Addicts Cruise, a week where real estate investors and private lenders get on a ship together and actually do deals. David is openly the one doing most of the selling here, and for good reason.

This cruise is personal for David. He met Rich Lennon on one of these cruises years ago, which led to the move that started Simple CFO and the Profit First book. Tom and Tanya share how the cruise matches investors who have deal flow with lenders who have capital in self-directed retirement accounts, why the days at sea in the conference center are where the real relationships form, and what the week looks like. If you’ve ever felt isolated as a solo investor, this one opens a door.

  • David Richter Talks Money

Why You Make Money but Still Feel Broke

October 28, 2026

David Richter of Simple CFO opens this solo episode with the line that defines his whole message: if you make money but feel broke, you’re in the same boat as most entrepreneurs. He shares his own early days doing 25 deals a month and millions in revenue while spending it all right back out the door.

The big reframe here is that whatever you actually do, real estate, coaching, a restaurant, a service business, that’s not the real game. The real game is the game of money, and nobody taught you the rules. David makes the case for Profit First as the system that teaches you how to win that game consistently, and reminds you that out of 500-plus businesses he’s worked with, the vast majority started in exactly the same spot. If you’re wondering where all your money went, this one names the problem.

  • Featured Posts

Are You Reinvesting in Your Business, or Just Spending Everything?

“I’m putting everything back into the business.” You’re building. You’re growing. You’re willing to sacrifice now for a better future. If every dollar goes back into your business, when does your busi... ...more

Cash Flow ,Budgeting Profit &Owner Pay

October 28, 2026•6 min read

Are You Reinvesting in Your Business, or Just Spending Everything?

Your Bank Balance Is Hiding Something. Here’s How to See It.

You open your banking app and see $40,000. Good month, right? Maybe. But how much of that money is actually yours to keep? Most business owners have a problem with how they monitor the cash their busi... ...more

Cash Flow ,Budgeting Profit &Owner Pay

October 21, 2026•6 min read

Your Bank Balance Is Hiding Something. Here’s How to See It.

Why Your Business Pays Everyone Except You

You started a business to create freedom. But if you’re always waiting to see what’s left, your business may be running on a system that puts your freedom last. Let’s talk about how to change that. It... ...more

Cash Flow ,Budgeting Profit &Owner Pay

October 14, 2026•6 min read

Why Your Business Pays Everyone Except You

Your Business Makes Money, So Why Do You Still Feel Broke?

Your business had a good month. Sales came in. Deals closed. Customers paid. Your bank account looked strong for a few days. Then the money disappeared. Why does the money come in but I still feel bro... ...more

Cash Flow ,Budgeting Profit &Owner Pay

September 30, 2026•7 min read

Your Business Makes Money, So Why Do You Still Feel Broke?

A Downturn May Not Kill Your Business—But Being Unprepared Can

It is easy to blame the downturn. But a downturn does not always destroy a business. The real problem is that the business was not ready for one. Here is the hard question: If your income dropped next... ...more

Cash Flow ,Budgeting

September 23, 2026•7 min read

A Downturn May Not Kill Your Business—But Being Unprepared Can

Leverage Can Grow Your Business—or Quietly Destroy It

Debt can help you buy properties, acquire equipment, hire employees, and expand your business. But if you do not have a system for keeping cash and producing profit, leverage may help you grow faster ... ...more

Cash Flow ,Growth/Scaling &Profit

September 16, 2026•8 min read

Leverage Can Grow Your Business—or Quietly Destroy It

  • David & Christina Talk Needs

The Business Hierarchy of Needs Every Owner Should Know

October 26, 2026

In this Simple CFO Case Files episode, David Richter and Christina Gutierrez walk through the Business Hierarchy of Needs from Mike Michalowicz’s book Fix This Next, the framework that reveals what’s actually broken in your business. This is a screen-share episode, so it’s worth catching on YouTube to see the pyramid laid out.

David breaks down the five levels, sales, profit, order, impact, and legacy, and explains why most businesses break the moment they start making revenue by skipping the profit step. He and Christina cover why cash in hand isn’t the same as sales, why you should grow from reserves instead of revenue, and the trap of getting stuck cycling between profit and order because no one is translating your numbers into decisions. If you’re not sure whether you have a sales problem or a profit problem, this one gives you the diagnosis.

  • David Talks with Christina Gutierrez

How to Project Your Real Estate Business a Full Year Out

October 19, 2026

In this Simple CFO Case Files episode, David Richter and Christina Gutierrez continue their dashboard series with the projections and cashflow tab, the one David says he uses with Christina in their own finance meetings every week. This is a screen-share episode, so it’s worth catching on YouTube to see the sheet in action.

Christina walks through building a year-long projection from the top down: forecasting revenue by exit strategy, layering in cost of goods and commissions, and landing on gross profit, which Profit First calls your real revenue. She and David cover why forecasted numbers sit right above the actuals pulled live from QuickBooks, how to catch the one-off expenses that quietly drain cash, and why the balance sheet (owner distributions, loan principal, big annual bills) matters as much as the income statement. If projecting your year feels overwhelming, this one makes it concrete.

  • David Talks with Eddie Speed

Why Notes Pay More Than Rentals With a Lot Less Headache

October 12, 2026

We’re bringing back one of David’s favorite conversations, this one with his good friend Eddie Speed, the Note King and founder of NoteSchool. If you’re feeling like a burnt-out landlord or your rentals just aren’t cash flowing like they used to, this episode is even more relevant now than when it first aired.

Eddie has done over 5,000 notes, taught this for more than 25 years, and still actively buys hundreds of notes a year. He makes the case that in today’s market, notes can pay you more with far less headache than rentals, breaking down the real math on a $250,000 investment, why he says he can own 1,000 notes or 55 rentals, and the built-in collateral cushion that rentals simply don’t have. He and David also dig into why burnt-out landlords are converting whole portfolios to seller financing, and how NoteSchool helps investors manufacture and buy good notes. If you want a new tool in your belt for this market, grab a notebook.

  • David Talks with Leon Barnes

Why There Are No Overnight Successes in Real Estate

October 5, 2026

We're resurfacing one of David's favorite conversations from the archives: his episode with Leon Barnes, a leader at the Collective Genius and a real estate investor who built his rental portfolio the smart way. It's a message that hits just as hard today as when it first ran.

Leon's path is anything but typical. A former broadcast journalism hopeful who spent 11 years in corporate advertising sales, he got into real estate running operations for a flipping and rental business before building his own portfolio to around 75 doors. He and David dig into why patience beats overnight success, why he walked away from chasing an arbitrary 100-door goal in favor of quality over quantity, and the go-giver culture that defines the Collective Genius. If you're building wealth through real estate and want to do it the right way, this one is worth revisiting.

  • David Talks with Megan Huber

Why Client Success Is a Profit Center, Not a Cost

September 28, 2026

Megan Huber has spent five years teaching client success and far longer doing the role, and she comes on to make the case for the most overlooked profit center in a real estate business. Most investors obsess over stuffing more leads into the top of the funnel while a mountain of money leaks out the bottom, from the customers they already have.

Megan breaks down why client success is a strategic role, not glorified customer service, and how it quietly oversees four of the five types of sales any company makes. She and David cover the four Rs of back-end revenue, the 90-day audit that tells you where to focus, why this person should be a profit center tied to KPIs rather than a cost, and when a growing investor should hire for it. If you're leaving repeat and referral money on the table, this one is for you.

  • David Talks with Brett McCollum

How This Investor Lost Over $1 Million and Clawed His Way Back

September 21, 2026

Brett McCollum ran his own investment operation for a decade, did hundreds of deals, and thought he'd made it, until back-to-back contractor issues and a market shift wiped out over $1 million in a little over a year and took his business nearly to zero. In this raw and honest episode, he shares what actually pulled him out, and it's not what most people would guess.

Now leading REI growth at PropertyRadar and hosting the On the Clock podcast, Brett opens up about reacting instead of responding, abandoning his Profit First discipline to juggle buckets, and the marriage conversation that became the real turning point. He and David also dig into why most investors waste time with AI, and how PropertyRadar's distress scoring and court-sourced data help you reach real sellers first. If you've ever hit rock bottom or wondered if you should quit, this one is for you.

  • David Talks with Benmont Locker

How to Spend $250K a Month on Marketing With Confidence

September 15, 2026

Benmont Locker scaled his real estate operations to $250,000 a month in ad spend, but he didn't start there. In this episode the founder of RAMP, a sales-team training community for real estate investors, breaks down exactly how he ramped up with confidence, and why that confidence comes from data and a sales team he trusts, not from having a pile of cash.

Ben is a quote machine here ("morale comes from profit," "hope is a terrible investor drug"), but the substance runs deep. He and David cover the marketing feedback loop built on qualified leads, the 0-to-90-day break-even framework, why he implements Profit First and a CFO 90 days into every new entity, and how tracking profit by product line exposed a low-margin line he'd have otherwise scaled blindly. If you want to make money fast in real estate and actually keep it, don't miss this one.

  • David Talks with Caleb Luketic

Cash Flow vs Profit: The Counterintuitive Lesson That Changed Everything

September 7, 2026

Caleb Luketic returns to the show for a third-act update on one of the most dramatic turnarounds we've covered. A real estate investor and marketer who once lost around $650,000 when a project manager he'd handed full control mismanaged a portfolio of flips, Caleb previously shared how he clawed back and paid off over $500,000. This episode picks up after the comeback.

Caleb walks through how he shifted focus to building note equity, set a goal of over $1 million in equity, and hit it almost without realizing it. He and David dig into how his CFO Michael turned instinct-driven decisions into math-backed ones, why he threw profit out the window to focus on cash flow, and how hitting his equity goal freed him to pivot toward the marketing work he actually loves. If you're on the cash flow rollercoaster wondering where the money went, Caleb has been there.

  • David Talks with Brandon Bateman

The 4 Marketing KPIs That Matter More Than ROI

August 31, 2026

Brandon Bateman of Bateman Collective has overseen more than $100 million in digital ad spend for the real estate investing community, and he comes on to hand investors the exact numbers they should track to know if their marketing is actually working. As David puts it, Brandon helps people make money while Simple CFO helps them keep it, the yin to the yang.

This is an action-packed, notes-out episode. Brandon breaks down why underfunding a marketing channel is the worst mistake you can make, what percentage of revenue different exit strategies should spend on marketing, and the four KPIs that matter far more than the ROI number everyone fixates on. If you want your marketing to produce leads and profit, grab a pen for this one.

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