Profit First for Real Estate Investors with David Richter

David Richter of Simple CFO breaks down one of the most practical questions real estate investors avoid: how to actually pay yourself first instead of paying everyone else and their mother. Drawing on the Profit First formula, he walks through the exact system for setting owner's pay when your income is unpredictable. This solo episode swaps the broken "sales minus expenses equals profit...

In this Simple CFO Case Files episode, we go inside the actual client work with Chris Savor, a Simple CFO who's been with the team since April 2022 and manages some of the firm's largest client relationships. Rather than talk about the methodology in the abstract, this conversation pulls back the curtain on how a CFO actually diagnoses a real estate business, cleans up the books, and tur...

Justin Noe spent just over 20 years as an active duty Marine before retiring and going all in on real estate. Today he runs a sales team, flips houses, and holds rentals in the Tampa area, and every piece of it is built on the Profit First system. Justin first read Profit First in 2019 while still in the military, but the real shift came at the end of 2022 when he looked back at a year of solid re...

On this solo episode of the Profit First for Real Estate Investors podcast, the host tackles a counterintuitive trap that catches growing real estate investors and entrepreneurs: scaling yourself right out of business. Drawing on Keith Cunningham's line from The Road Less Stupid that scaling cancer only grows the tumor, he lays out why pouring more marketing money into a business you don&apos...

In this Simple CFO Case Files episode, David Richter and his business partner Christina Gutierrez kick off a new recurring series recorded right after their weekly EOS same page meeting. They pull back the curtain on how they run Simple CFO using Gino Wickman's Traction and EOS system, and why the visionary and integrator partnership has been the engine behind the business. The heart of the c...

Rich Lennon is a longtime real estate investor turned private lender who built one of the largest hard money lending operations in Richmond, Virginia, after a career of flips, rentals, and buy-and-hold deals. He reached financial freedom by stepping out of active investing and into the lending seat, where he now earns 30 to 50% returns doing only a few hours of work per deal while traveling the wo...

In this solocast, the host breaks down one of the most overlooked financial mistakes real estate investors and entrepreneurs make: pricing deals and services without accounting for what they actually need to keep. Whether you're flipping houses, wholesaling contracts, or running a service-based business, most operators look at gross profit as the finish line and miss the real question entirel...

Tony Castronovo is a Simple CFO fractional CFO who has worked with nearly 50 clients across real estate investing and small business ownership. In this second appearance on the show, Tony joins host Christina Gutierrez to walk through a string of five-star client reviews and unpack the real stories behind them — the financial messes, the predatory debt, the overleveraged portfolios, and the moment...

David Richter is the author of Profit First for Real Estate Investors and founder of Simple CFO, a company built to help real estate investors get control of their cash flow, pay themselves consistently, and stop living deal to deal. He spent nearly a decade inside a real estate business that scaled to 25 wholesale deals a month, where he eventually took the finance seat, only to discover they wer...

If you can't tell me your return on every marketing channel you're running right now, you're flying blind. Most real estate investors know they have to spend money on marketing — but very few have a system that tells them whether that spending is actually working. In this solo episode, the host breaks down a straightforward framework for tracking marketing dollars from the moment th...

What if the entrepreneurial principles you spent your 20s and 30s learning the hard way — accountability, financial literacy, win-win thinking — could be baked into your kids' education from the very beginning? David Richter shares the story of how a conversation at a real estate investor mastermind led his family to discover Acton Academy, a nontraditional school with an entrepreneurial fram...

What happens when you run the numbers on the Airbnb you're staying in and realize it beats every turnkey rental you toured that day? For Tim Hubbard, it meant walking away from the long term rental deal he flew to Tennessee to find, buying a historic eight-unit apartment building instead, and converting it to short term rentals. That single property went on to earn roughly eight times what it...

This solo episode breaks down Profit First, the bank account-based cash management system that helps real estate investors and business owners stop bleeding profitability and start keeping more of every dollar they make. Host David walks through the five core accounts, explains why the owner's comp account is the best place to start, and makes the case for why a fractional CFO might be exactl...

What happens when a father believes so much in what his son built that he becomes a paying client — not a cheerleader, not a silent supporter, but someone who put his own business on the line to test whether the system actually works? That's the story of Pete Richter: property management veteran, former client of Simple CFO, and now a fractional team member helping the company he once hired....

Jarrod Frankum started his real estate journey with nothing — no cash, no credit, and a $500-a-month budget he'd carried home from two years of campus ministry in Brazil. Seven years later, he owns six properties outright and holds an additional eight in partnership, runs a wholesaling and buy-and-hold business that funds his life across two continents, and attributes a significant part of hi...

In this solo episode, David Richter breaks down why so many real estate investors and business owners feel like their CPA isn't delivering, and why the problem usually starts long before tax season. The real issue isn't your accountant — it's the quality of the books, the communication process, and whether you have anyone connecting the dots between your bookkeeper, your CPA, and yo...

Christina Gutierrez is a co-owner and fractional CFO at Simple CFO, a firm she helped build over nearly seven years alongside founder David Richter. Her background spans temp agency work across multiple industries, commercial real estate operations, a master's degree, and hands-on experience managing entire portfolios before she ever set foot in a CFO role. In this episode, David flips the sc...

Bobby Triplett is VP of Renovation Services at Offerpad, a publicly traded iBuyer with operations in 20+ markets across 15 states, where he has led the renovation of more than 40,000 homes over nearly a decade. His team now offers institutional-grade, W2-staffed project management to private investors — from first-time flippers doing two deals a year to clients running 120 renovation projects a mo...

Most business owners chase more deals, more leads, and more revenue — convinced that volume is the answer to keeping more money. But as a fractional CFO who has worked with hundreds of businesses, the host knows firsthand what it feels like to scale to 25 deals a month and still bleed cash. This solo episode breaks down the exact system he uses to identify and eliminate hidden cash drains in any b...

Stacey Iddings is the Client Advocate at Simple CFO Solutions, serving as the first voice new clients hear after signing and the ongoing support presence throughout every stage of their engagement. Over two years in the role, she has onboarded hundreds of clients, conducting discovery call reviews before every onboarding call, running 30-day check-ins, quarterly touchpoints, and even post-cancella...

In this episode of the Profit First for Real Estate Investors podcast, host David Richter sits down in person with Mike Michalowicz — author of Profit First — for the fourth episode in their series together. This conversation takes a deeper look at identity and the mindset shifts that separate investors who build lasting wealth from those who stay stuck on the hamster wheel. Mike introduces a powe...

The numbers will tell you what to scale — if you'll actually listen to them. In this episode, David Richter breaks down exactly which financial numbers every real estate investor and entrepreneur should be tracking, why most business owners are solving the wrong problems, and how getting clear on just three simple numbers can make you more financially savvy than 90% of entrepreneurs out there...

"Busy but broke" — it's the phrase Christina hears more than any other from real estate investors who come to Simple CFO. In this episode of the Simple CFO Case Files, she sits down with senior CFO Michael Glaspie, one of the longest-tenured members of the Simple CFO team, to break down exactly why that happens and how a real financial system fixes it. Michael walks through what sep...

In this episode of the Profit First for Real Estate Investors podcast, host David Richter sits down with Mike Michalowicz — author of the original Profit First — for the third episode in their ongoing series together. This conversation zeroes in on one of the most common financial struggles in real estate: inconsistent deal flow and what to do when big chunks of money hit your account all at once....

Hiring the wrong fractional CFO will cost you more than not hiring one at all. In this episode, David Richter breaks down exactly how to know when you're ready for a fractional CFO, what questions to ask before you hire one, and the secret question most business owners never think to ask that reveals everything about whether someone is actually worth trusting with your finances. Whether you&a...