Welcome to a groundbreaking episode of Unstoppable REI Wealth! In this riveting discussion, I, Billy Alvaro, sit down with the brilliant David Richter from Simple CFO to unravel the secrets of managing and preserving profits in real estate investing. Brace yourself for a mind-blowing conversation that will forever change the way you approach your financial endeavors. David, a seasoned real estate investor himself, flips over 850 properties, shares invaluable insights and strategies on ensuring that the money you generate from your real estate ventures stays securely in your pocket. He unveils the hidden truth behind focusing not just on top-line revenue, but also on the amount that truly fills your coffers. Prepare to have your mind expanded as we challenge the conventional mindset of sales minus expenses equals profit. We delve into the revolutionary Profit First methodology, urging you to prioritize paying yourself first and allocate a portion of every sale towards profit and personal financial security. Buckle up as we explore the profound impact of implementing Profit First in the real estate industry. Discover how this system can transform your business, empowering you to make better decisions, cut unnecessary costs, and ultimately drive your bottom line to new heights. But wait, there's more! We uncover the importance of setting up multiple bank accounts, the "golden trio," to effectively manage your business finances. These accounts safeguard your hard-earned money, ensuring that you prioritize your well-being and build a strong financial foundation. Join us on this incredible journey as we unveil the secrets of financial clarity, success, and freedom. Don't settle for mediocrity; let us guide you towards unstoppable wealth. Tune in to Unstoppable REI Wealth and unlock your true financial potential. Remember, success is not a matter of chance but a result of strategic financial management. Get ready to take charge of your destiny with Unstoppable REI Wealth and our enlightening discussion with David Richter from Simple CFO. Don't miss out on this life-changing episode! - Managing real estate profits - David's transition to finance - Implementing Profit First - Importance of financial clarity - Common financial mistakes - Multiple bank accounts for clarity - Setting up the "golden trio" - Implementing practical strategies - Importance of a CFO - Proactive financial management - Importance of a good financial foundation - David's passion for helping businesses - Promoting the book on profit first KEY POINTS [0:6:13] With the Profit First formula, entrepreneurs can expect to dramatically increase their profits by up to 300%, simply by shifting their mindset and prioritizing profitability first! [0:7:5]Discover how the revolutionary Profit First system can help you maximize your real estate investments and achieve financial success with David's "Profit First Real Estate Investors"! [0:11:58] By teaching individuals the essential rules and strategies of personal finance, we can empower them to take control of their financial lives and experience the joy and satisfaction that comes with financial freedom. [0:16:33] Staggering statistics show that a shocking 70% of small businesses fail due to poor financial management, illustrating the dire need for more education and discussion around handling business finances. [0:16:33] Discover how Profit First can give you unprecedented clarity into your business finances, allowing you to make smarter decisions and skyrocket your profits! [0:19:13] "Don't rely on 'hope and pray' strategies to build your business – instead, set realistic financial goals and devise a plan that works around your lifestyle and aspirations." [0:25:37] Transform your business with a fractional CFO and unlock powerful financial insights to budget and forecast with confidence. [0:28:14] Discover the power of a fractional CFO to help drive your business forward: wi