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Imagine making over $600k monthly with wholesaling and still losing money? Unfortunately this is a trap many real estate investors fall into. We tell ourselves the more deals and the more employees we have the better. And without an accounting system and accounting philosophy to keep us in check, we end up living paycheck to paycheck instead of achieving the true financial freedom we got into real estate for. Today\u2019s guest, David Richter, is the founder of SimpleCFO and author of Profit First for Real Estate Investing. He joins Lauren Hardy to discuss the biggest financial mistakes real estate investors make and how to avoid them.

If you liked this episode and are ready to level-up your game and achieve true financial freedom, apply to Lauren\u2019s Virtual Investing Mastery program.

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Show notes:

• (0:48) - Beginning of today\u2019s episode.
• (1:52) - Many investors are living paycheck to paycheck \u2013 here\u2019s how to avoid it.
• (5:30) - The company you DON\u2019T want to be.
• (11:28) - The biggest financial mistake to avoid.
• (19:38) - Why drinking the \u201csocial media Kool-Aid\u201d is hurting you.
• (24:35) - Save this much before hiring.
• (28:35) - Lauren\u2019s Quickbooks hack.
• (33:15) - The importance of a CFO and what to avoid.

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Resources:

• Want to learn more? Check out our Virtual Investing Mastery program.
• To speak with Lauren or one of our other expert coaches call (281) 835-4201 or schedule here.
• Interested in a part-time CFO? Learn more about David\u2019s SimpleCFO here.
• David\u2019s Profit First for Real Estate Investing.

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