No one goes into entrepreneurship or real estate investing hoping to work MORE forever.
In fact, the most common reason people tell me they want to start investing in real estate is to have MORE time to enjoy life - more time to spend with family, to travel, on hobbies and passion projects.
And ultimately work LESS.
So many of us are looking for ways to make more money, and build wealth in a way that isn’t tied to our time.
And both investing and entrepreneurship can be powerful ways to CHANGE that – to disrupt the notion that the only way to make money is to trade it for your time.
This is one of my favourite topics because I honestly think investing your money and creating time freedom is one of the BEST things any of us can do to make our dreams come true, to create a holistic life we love and make the world a better place.
If you’re listening to this episode and you want to create wealth that isn’t tied to your time, you’re in the right place because I LOVEE having these conversations on the podcast and this episode specifically for you.
In the last year or two, we’ve seen many “successful”, high profile investors in Canada go into receivership, or claim bankruptcy, despite owning millions, or TENS AND HUNDREDS of millions of dollars in real estate.
While that might sound shocking (and trust me, it’s sent shockwaves through the industry and investor community), the reality is that real estate investing can be challenging.
Running a business, and investing in real estate isn’t as easy as Tiktok makes it sound.
It’s not as easy as inserting money into the real estate machine, and being guaranteed that it will vomit cash back at you for the rest of your life.
To be successful as a real estate investor: it’s not just about what you’re worth, what you own, or how many doors you have — it’s about what you KEEP, and how the profitability in your business allows you to make you money to build wealth and free up your time to do more of what you want and spend it with those you love.
That’s why I’m so excited to have David Richter on today’s podcast.
Here’s why this episode is a must-listen, for all the real estate investors out there - the pros, the newbie and the aspiring investors:
The last thing we want is for you to put in ALL This work to invest in real estate, and then… be no further ahead in your finances.
This episode is all about getting you in the financial seat of your business, so you can make a profit – FIRST.
Be sure to hold on to the end because we have a special announcement for a FREE event you can join in happening real soon in 2025 to take control of your finances.
You don't want to miss this!!!
Here’s our promise to you: You’ll learn the keys to building a profitable real estate portfolio, whether you have one door, 100 doors or 1000. This is all about making your business and investments work for YOU and your life goals, so instead of you being overtaken and overwhelmed by your business…. You can use it as the catalyst to build a more fun, adventurous, peaceful, easeful, beautiful, and intentional life.
Grab your notebook, and get ready to learn.
Register for the free workshop: www.lisamichaud.com/profitfirst
.
Here are the juicy bits you can look forward to:
Power of Collaboration (09:15)
How to break free from the rat race as a real estate investor (29:17)
Systems in profit first (32:22)
Importance of building a team as a real estate investor (44:32)
Rapid Fire Question (58:39)
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Resources:
David Richter bio
David Richter is an active real estate investor who has been essential in closing over 850 deals over the last 7 years which includes wholesale, turnkey, brrrr, owner financing, rentals, lease options, and any other exit strategy you can think of. While growing and building a real estate business from 5 deals a month to over 25 deals a month, he realized that as much money was coming in, it was going right out the door.
David had the unique opportunity of being in every seat as a real estate investor, and he found a calling in the company’s finance seat to help businesses see where their money really went. David has helped real estate companies completely turn around from going out of business to building cash reserves by using the Profit First cash flow system.
He wrote the book Profit First for Real Estate Investors, a derivative of the original Profit First by Mike Michalowicz that is tailored specifically for Real Estate Investors.
His goal is to completely transform the Real Estate Investing industry when it comes to how real estate investors view their finances, and He wants investors like you and me to have true financial clarity and freedom, and help every investor stop living deal to deal.
Additional Resource
Register for the free workshop: www.lisamichaud.com/profitfirst
The Road Less Stupid by Keith Cunningham - https://amzn.to/40oNHmi
Quickbooks: https://quickbooks.grsm.io/LisaMichaud
Links to David:
Website: https://simplecfo.com
Head over to David’s Instagram: https://www.instagram.com/thedavidrichter/
Grab your gift: https://simplecfo.com/gifts/
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Thank you so much for listening.
xo,
Lisa
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