Today, I have my buddy, David Richter and we are going to talk about a topic that a lot of real estate investors try to dodge, which is your financials. More specifically, how to easily track your financials, your P and L. Whatever you use to track your financials right now, really tells the story of the health of your business.
[00:00:00] Mike: [00:00:00] Hey everybody. Welcome back to the show. Today I’m going to talk about a topic that a lot of real estate investors try to Dodge. Uh, my buddy David Richter is here. We’re going to talk about really your financials and how to easily more easily track your financials and how your financials, your P, andL or, uh, your, uh, whatever you use to track right now really tells the story of the health of your business.
Professional real estate investors know that it’s not really about the real estate. That real estate is just a vehicle of freedom. A group of over a hundred of a nation’s leading real estate investors from across the country meet several times a year at the investor fuel real estate mastermind. To share ideas on how to strengthen each other’s businesses, but also to come together as friends and build more fulfilling lives or all of those around us.
On today’s show, we’re going to continue our conversation [00:01:00] of fueling our businesses and our lives. I’m glad you’re here.
Hey David, welcome to the show and
David: [00:01:14] very glad to be here. Thank you.
Mike: [00:01:16] Yeah, yeah. Glad to see you. Um, so it’s going to be interesting topic because you know, my, I told you, you know, my wife is really kind of buttoned up. She’s our CFO and she’s like kinda militant about tracking our financials. We almost know real time what’s going on in our business, but I know that the average real estate investor.
You know, doesn’t have that. They don’t have a partner necessarily that has that skillset. And, um, you know, a lot of real estate investors, let’s be honest, are kind of flying by the seat of their pants, even if they’re doing a lot of deals, but their financials might be a bit messy. And so that’s probably your experience as well, right?
David: [00:01:48] Definitely my experience, they’re doing the more they’re flying by the seat of their pants.
Mike: [00:01:52] Right, right. And so, you know, it’s just important. There’s a lot of things. One, it kind of tells the health of your business in two. [00:02:00] When it comes to tax time and like all these things, it’s just a lot better to have clean books, had everything cleaned up and not have it be this like you have to take a month out of your life to get all this stuff ready.
So we’re kind of timely here. I mean, we’re a kind of February. A lot of people are working on their taxes are about to start working on taxes. I can, I’ll be very honest with you. Our taxes are literally done right now. It’s February 13th for the entire. For all of our businesses for last year, just because that’s how my wife rolls.
She often says, this time of year. This is sucking the IRS is sucking my soul out of my body. So, um, but anyway, she just wants to get it done. But I know a lot of people put it off to the last minute and then, um, file a extension and stuff like that. So depending on where you are in there, you’re either going through it right now, probably are about to, so pretty timely.
So, uh, Hey, before we get started with this, tell us a little bit about you and your, and your background, how you kind of found your way into this role.
David: [00:02:53] Sure. So about eight years ago, I read rich dad, poor dad, eight or nine years ago. So that got me into the investor [00:03:00] world. I started working with the company then, and it had, I had bought a couple of my own houses and fix them up, but I wanted to work with a real estate investment company.
So I started doing that, and for about five years I was with them and saw it grow from about five to 10 employees to about 25 to 30 and we were doing, it’s fixed and flipped turnkey wholesale. Retail rent to own? Well, you know, straight rentals. So we were doing everything inside of real estate. At our highest point, we’re doing about 30 deals a year.
So I got to see every single role too, from acquisitions, dispositions to to property management, project management, transaction coordination, the accounting role too. And that’s really. I saw that I really liked the accounting role, not because I didn’t go to college for accounting or anything. I didn’t go for that.
I went actually for it to be a teacher, and I like teaching and helping people, and I saw that that was a huge need. And I actually moved about a year and a half ago, so that was after my five years stint with a real estate investment company. I’ve worked with another company where I moved [00:04:00] to in Richmond, Virginia, and one of the big things I was able to do was to give that investor.
Accurate and up to date financials and really helped on the team, pull those together. And I saw the power of that because he kinda changed his whole business model then. And you saw that he wasn’t as profitable as he thought he was. And it kind of gave him a lot of good insight. And so now. What I did last year, I jumped into this full time where I’m, I’m helping the investors on the financial side of their business.
And I’m not really, I’m not a bookkeeper. I’m not that. What I do is I help on that higher level. Make sure, number one, you’re getting that stuff in there and getting all the numbers and they’re up to date. And then from there, really planning on how can we, are you actually making money? Are you not making money?
What, what story is your, are your numbers telling you? So, and I know that the topic of today, and so that’s just a little bit. Really 30,000 foot view of how I got to one.
Mike: [00:04:53] And I know you, you teach and you follow the profit first a methodology. And the interesting thing about that is, even in our [00:05:00] business for many, many years, you know, we pay ourselves kind of a small salary and the way until the end of the year.
And then we make most of our money when we, when we kind of know how we’re going to settle out for the year with taxes and all that stuff. And it’s really a terrible way, cause you’re kind of like, you know, uh. You’re, you’re the last, if there’s anything left like you, you might get some right. And that’s just as we run a business.
The truth is that that’s just not really the right way. To run your business,
David: [00:05:24] right? You all those books too. There’s a bunch of books. I mean, even rich dad, poor dad to the richest man in Babylon by George place in, you know, written years and years ago. It’s about paying yourself first. And as a business owner, you can truly do that because you’re not a w two employee, so you’re not, you don’t have to give the government that money first.
You can pay yourself and then your expenses it where profit first says it’s really sales. Minus profit equals expenses versus sales minus expenses equals profit. It’s just a different way of thinking about it and making sure that you can actually sustain that too. So it’s made, it’s forcing you to be a profitable [00:06:00] business versus like, I’ve got so many expenses, I just need to pay all of those first.
Mike: [00:06:04] Yeah. Sometimes we forget, like at the end of the day, we want to run. If you really want to run a business, you should. You’re your, what’s your paying yourself should be. I mean, you know, you should, your business should account for a salary to pay a CEO or the leader of your company, right? Not just like, well, the CEO will get paid if there’s anything left at the end.
It’s like account for that. So we all, we all really aspire to, many of us won’t, but aspire to step out of our business and really be a business owner. And there’s some other, somebody else. What else? Running it that you would of course have to pay a salary too. So just kind of position yourself and just say, look, if it was somebody else, you’d have to pay them.
Why not pay yourself? Right,
David: [00:06:41] exactly. Yeah. No, you’re profitable to you. You need to be able to sustain that.
Mike: [00:06:46] Yeah. So let’s talk a little bit, cause I know we talked a little, uh, beforehand, and I work with a lot of real estate investors, so I know that many real estate investors, you know, they know, Hey, I just made 20 grand on an assignment fee.
I just flipped this house and I think I’m going to make [00:07:00] 25 or 30, whatever it might be. But they really don’t know what’s going on in their business. They don’t really know their numbers as clean as they should. Right. So talk a little about kind of what you see and maybe a little bit about what they could do better.
David: [00:07:12] Right. So I see a lot of that where they’re like, Oh yeah, we’re going to make 25 or 35 but they don’t take into account the operating expenses. What actually went into making that deal? They might account for the marketing that went into that property. What else did went into that to know? Because there’s a lot difference between the net property profit and your net profit as a business.
That property profit is pretty easy to calculate. You just take, you know, what ever is tied to that property and you see what it is at the end of the day, but as long as you have that number that needs to go into. Okay, what did the rest of the business have to do in order to support me getting that deal?
Whether it’s. You have virtual assistants or you have other other people on your staff, or if you are out there running around doing the deals, you know, and getting stuff out there. If you’ve got systems and processes, all that stuff. That all goes into that. And a lot of people don’t [00:08:00] account for that. So they’re like, yeah, 25 or 35 and I’m going to take the 25 or 35 from that and either pay myself or do whatever, and no, you need to be able to see what did you actually make.
Across the whole entire business. It’s really the difference between just being a wholesaler and being like a business owner, like you were talking about where you want to eventually replace yourself in all those roles, but you need to know first how a business owner thinks and that business owner thinks not just on the property level, but on the business level too.
And that’s a lot of people get hung up there because they just don’t know how to think that way. And it’s really not. Once. I mean, once you have someone tell you that a light bulb goes on, and a lot of investors that I’ve worked with where they are just like, okay, that’s how I can tell if we’re actually profitable or not, or this is what I need to change.
Because obviously me just accounting for our property profit is not good enough to see what our business is actually healthier.
Mike: [00:08:51] Yeah. We all have other expenses. I’m here in my office. I have, I hear a bunch of activity outside. I have, I have employees to pay. I’ve got rent. I’ve got . The [00:09:00] utilities I have, of course, marketing expenses, right?
All those things. I think what you just said is really important. Now, I really want people to understand that this is the truth is if you’re a real estate investor, a lot of us say, what do you do? I’m a real estate investor, but you know, at the end of the day, this is how I look at it. I’m a business owner and real estate is my product, right?
If you think you’re a real estate investor, and that’s, that’s everything that you’re missing out on, the fact that you have a business that just happens to be the product that you. So, and as your business matures, you start to get more product variety. You’ve got rentals, you’ve got, you know, in my case, I’ve got coaching and have masterminds and all sorts of other things.
And at the end of the day, the overarching thing is you need to operate like a business. And you might have some different products inside of there.
David: [00:09:42] Right? Yeah, exactly. So that’s so important. Just having the, the older mentality versus, like you said, just the real estate investor. Because if you think that way, then you’ll think, I don’t need to do these numbers.
I don’t need to know that stuff. I just need to go out and do another deal taxes, or do I got to go out and do another deal. So it’s the, it’s [00:10:00] that versus saying, am I truly running a profitable business that can cover the taxes when they come due or when, you know, or in the long term. Versus a short term.
Mike: [00:10:09] Yup. And I’m sure you’ve seen, and I’ve known a bunch of people that are appear to be successful, and I’m not saying that they’re not, but they get to the end of the year and they have like some box full of receipts or who knows some, some system that’s not really a system. You and a bunch of bookkeeping at the end of the year here, we’re pretty buttoned up, like day to day.
Like we have a bookkeeper on staff, my wife has our CFO, and we have, you know, we’re, we have a systematic approach for how to easily track stuff. But I know a lot of real estate investors are not like that. So talk about some tips for easily tracking, um, information, whether it’s getting the receipts to the right person so they can log them in QuickBooks or whatever it might be.
Just kind of talk about some basic kind of. Good practices for people that are listening.
David: [00:10:51] Sure. It depends on the size of your organization too. If you’re a, if you’re a smaller team and, but you still have a lot of transactions cause you’re doing a real estate deal and there’s a [00:11:00] lot of things tied to that.
You might want a part time bookkeeper or something where you have a system in process where either it goes to a, an uh, a program like receipt bank where it’s receipt-bank.com or Evernote. Or just QuickBooks has a receipt function to where you can literally snap a picture, all those different things.
You can snap a picture of that receipt, put in some information like who, what char, you know what Carter was charged to, what property it was for, and then literally you’re sending it out to your bookkeeper or into the system and that they’re putting in the actual entry. So you’re not wasting a lot of time, but you’re getting.
The, the end goal is to be able to see the, what the true business owner needs to be looking at. Are we profitable on this property, but are we profitable overall? And getting that information doesn’t seem like, well, this isn’t a high dollar per hour task. No. But the end result of that data is being able to actually analyze that.
So if you have a system, and that went back to being a business owner, if you have a [00:12:00] system for it, you can make it to where. A lot of the technology or other people are doing that for you. So you’re just telling them, here’s what it was for. Then it’s off your plate. Takes 10 seconds to do that, and then you’re on with your day.
So having an actual system like receipt bank or QuickBooks, if you have the online version, has the receipt capture or something like Evernote where you can. Put it in there and someone’s scraping your bookkeeper, scraping that stuff. Yeah, and
Mike: [00:12:25] that’s what we do. I told you, I told you a little bit about my story up front, but for years we would like, I would come home from home Depot or wherever I was because rehabbing really heavily for a long time and you know, we’d have to write on the receipt.
I’d write at the top of the receipt what property is for. And then just like put them in an inbox and my wife would scan them and then, you know, she was kinda hating life. And over time we realized that it’s like, Hey, just take a picture of it and we use an email address. I send the email and I say, Hey, it’s for this property.
Um, and it goes into Evernote and then our bookkeeper captures it and she just, when our bookkeeper comes in, she just knows they’re all set up his tasks and in Evernote [00:13:00] effectively say, go put that into QuickBooks. And there’s a lot of different ways to do it, but, you know, I think it all starts with, um, having a system for, this is how the information flows and it can’t flow anywhere if it’s stuck in your pocket or it’s in a box or it’s in your console and your truck or your car or whatever.
David: [00:13:16] right. Yeah, exactly. And if you have contractors, if you’re a little bit bigger company, then maybe get something like a bill.com where they’re sending your invoices all to one email address. It goes into a system like that and then you don’t even have to cut checks. You know, that’s kind of more on the accounts payable process.
But I mean, a lot of people that I see are still cutting checks out of their own office or they’re sitting down to write those things. And, and I’m not saying you shouldn’t approve those, but like bill.com is all, you can send it all in there and set different approvers and so it can get paid, you know, out of.
That system. So there’s a couple of different things that you can do depending on the size company you are too. Cause if you’re not the one out there with the receipts, then you need to be able to, if you like hiring a new contractor, here’s our process. Like on a one sheet of paper. If you want to [00:14:00] get paid on this day, you’re going to send bills here.
And then the next step is we’re going to approve it and then we’re going to pay it on this day. And then you’ll have money in your bank account by this time, you know, the following week or like whenever it actually hits. So it helps you cause. Have that system and get that off your plate. But it also will help you build that relationship with your contractors and those people too, because they’ll see, wow, they actually run a business here and they’re going to be approving these things, and it’s not just going to be like, okay, yeah, I got that invoice and I’ll pay it some time, or you know, or whatever.
So if you have kind of a system and process to hand your contractors to, depending on how the, how big of a business you have or whatnot, if you’re not alone out there, being able to.
Mike: [00:14:40] simplifies your life to you. I know are very early on, so we’ve been investors for a little over 12 years, but back then, you know, we learned pretty quickly.
Everybody wants to get paid immediately and we’re like, okay, we have to, just like you said, we’re like, if you have an invoice to us, if you email it to this address. Which was like billing at which we’d go to kind of our bookkeeper [00:15:00] by 5:00 PM on Wednesday, you will have a check ready by 5:00 PM on Thursday, whether you’re picking it up or we’re mailing it to you.
Or now, of course, like you were using, uh, you know, other systems for delivering the money so they don’t have physical checks, but we just, the cutoff is if you send it to us at 6:00 PM on Wednesday, you’re going to get it the following Thursday. If you send it to us. You know, after that the payment day is, is Thursday for our employees, vendors, everybody.
Like that’s when payments get made. And I think once you set that expectation, then your contractors, like you said, they start to act differently. Right? Right. And, uh, it just, a smoother process for you internally is that you don’t. Drive yourself nuts, right?
David: [00:15:38] Yeah, exactly, and I’m all about systems and processes and making sure you’re getting the highest dollar per hour tasks done, and just letting the contractor know that is a high dollar per hour tasks, you know, and having them all your system is a high dollar per hour task, like getting that off of your plate onto their plate to make sure they follow the rules.
Then also that frees up your time too. I’m all about. Having the business owner, like you said at the [00:16:00] beginning, really step out of the, the nitty gritty as those day to day roles and be more of that, the manager of that system and eventually the manager of the manager of that system. Like you said, replacing yourself with a CEO eventually.
Mike: [00:16:12] Yup. Yup. And so talk, you wouldn’t talk, maybe this is a, you know, not the sexiest thing for the average person, but. Some easy ways. We use QuickBooks online, like you said, and like set up set. We use classes, like a property is its own class for us and whatever system you’re using, whether it’s QuickBooks online or not, you can have classes and subclasses what?
And then we always had a, we always, we have a, a kind of a central class that’s like corporate class. It’s just like everything that’s, you know, rent and all this stuff for our business. And all of our properties are on a P. and. L is that a common. Set up? Is that kind of what you advise?
David: [00:16:43] Yes. That’s a common set up for sure.
And I, the big thing is you need to be able to see at the end of the day, very clearly what your actual P and L is and not confusing. Like if you’re, if that stuff is inventory or assets, you know, it really sits on your balance sheet until itselves so we can get [00:17:00] into the weeds there. But at the end of the day.
You as the business owner, the highest dollar per hour thing that you can do is analyze your data and see what it’s really telling you. So you want to make sure if you have properties like, uh, Mike was saying that you are classing them so that way you could pull up a P and L not just for your business but on that actual property too.
Cause once it sells and it’s, it’s sitting on your profit and loss, now you’re able to see what was the true. The true P and L not only for my business, but for my properties too. So you can run that on those also. And so setting those up as classes, making sure that you’re setting it up on the front end to be successful months down the road when you’re either looking at that for a quarterly meeting or if you have a monthly meeting, or if you’re looking at your P andL weekly, you want to make sure you’re saying it up upfront so you’re setting yourself up for success and not failure.
Because then if you’re like, ah, I really wish I had this data, you know, now, or whatnot, and you could set it up then, but okay. Taking a little bit of time to think how do you want to see the data too, and what do you want to get out of it? Because that’s a big portion of [00:18:00] what will be most beneficial to the actual investor
Mike: [00:18:03] at one one is just knowing that my profitable or how profitable are we so you can celebrate or understanding if you’re doing things well.
The other part is to figure out what you need to stop doing, right. It’s like, I think a lot of real estate investors are kind of surprised. When they get their books cleaned up or, you know, there’s other things that we track that are outside of, uh, outside of accounting. Like, you know, you’re a member of investor fuel.
We push pretty heavily on our members to track their KPIs, like how many leads they got by lead source, how many deals they got from that, the profit by lead source and things like that. And so we’ve, it’s routine that we have people that join and within a few months they’re like, I just turned paper, click off, or something else.
Don’t want to offend any PaperClick people. But. Cause I’ve put $25,000 into it. And I didn’t realize until I analyze this that I’ve never even gotten a deal from it. Cause we just kinda, we do, we have so much going on that sometimes we just like assume things are going well cause there’s maybe cash in the bank account or whatever.
But it’s like now once you dig in, you start to realize. You start to be able to get more [00:19:00] efficient because you can make better decisions, right?
David: [00:19:01] Yep, exactly. And that’s why having a good CRM too, that works in tandem with your QuickBooks or like with your books, because that way you can say, okay, on my CRM, it’s going to tell you that we, we sold this many deals from this many lead sources, and then you can go see, okay, what did we spend on that and be able to put that together.
And that’s exactly what you’re saying. Get those true numbers that are going to help you determine whether you’re being a success in a certain area or if, like you said, if you need to turn it off
Mike: [00:19:27] or no. Yeah. And you start to, sometimes you look, we got, you know, that you could go once you have the information that you can slice and dice it however you want.
But I know I actually once a, once a quarter, I get, I’m not going to show you, I guess I’ll show you. I get a report from my, uh, our bookkeeper that basically says these are a bunch of expenses that we have and a bunch of recurring ones. And. In our business and like a lot of real estate investors, and I have a bunch of other businesses too.
We ended up getting a bunch of subscriptions to things and to the tune of like thousands of thousands of dollars a month, and it’s not, it’s not [00:20:00] uncommon for me to look once a quarter of this and say, Oh my God, I thought we turned that off, or we stopped using that a year ago. Why are we still paying for it?
Or whatever. And I think with real estate investors, because we had the opportunity to make big money, sometimes we get sloppy with those expenses that really add up right.
David: [00:20:14] Yeah. And that can affect your bottom line. I mean, that can really affect your, your net profit and what you’re actually bringing to home.
So that’s, that is very key to be looking at those things too. I like pretty consistent basis.
Mike: [00:20:26] Yup. Yup. So David, what are the, what are some other tips for real estate investors too? If they’re like. I don’t want to do the accounting. I don’t want to do the bookkeeping. You know? The answer is not to stick your head in the sand.
What are some kind of simple solutions, if you will, to start moving in that direction? Or maybe you know the, as they say, in some programs it admits you have a problem
David: [00:20:45] first. Right? That’s where I see a lot. When I started working with people, they just, they don’t know where they stand because. First of all, they just think that, okay, this is going to be too hard to dive into, or they don’t, or they don’t want to know the numbers.
They really don’t want to [00:21:00] know, like, am I profitable or not? Where a lot of people I’ve seen with the investors, they’re not profitable. They know their pain themselves or whatnot, and they’re not looking at it. From the actual business overall, but then guess what? From there, they get to actually see that, okay, now we need to pivot and do something different.
Where I’ve seen people really turn themselves around and say, obviously my fix and flip arm or this arm over here either needs a total revamp or we need to cut something off that we’re doing currently. And not even just one expense, but maybe a whole operational part that you’re doing. So it really. The first thing is, like you said, admitting that problem.
But then as far as like actually getting a system in place, it’s either getting a good bookkeeper who knows what they’re doing, or someone who is like a CFO type person who can help you, guide you all in those ways. But honestly, a lot of people, if you’re just starting out, can start using QuickBooks online.
Cause that can do, and there’s some other programs too, like FreshBooks and like apps and whatnot for the accounting software, but getting an actual software [00:22:00] that can help you. Automate some of these things. Cause if you’re like, I’m only doing a couple of transactions every month, you know, it’s not a ton.
I’m doing maybe one fix and flip deal every couple months or every or every month. And you know, I want to handle it myself. Well then get a system that you can automate a lot of that where you’re just. Pointed in, you know, you’re snapping that picture. It’s going into that system and then having your wife or your spouse or whoever help you with the actual bookkeeping or get a bookkeeper who is part time or full time, and I take that off of your plate, but then have a system like we were talking about using a lot of those things in tandem, either receipt bank and the bill.com and Evernote or whatever works for you, where you can actually create that system in order because what you’re trying to get at the end of the day.
Is what that data is telling you. So you have a system to capture that data, like QuickBooks, and if you need that piece of the arm, like a bookkeeper, then getting a good bookkeeper. And then from there it’s making sure that you have a system to get that information to that person on a consistent basis where you don’t have to think [00:23:00] about it a lot because that’s, a lot of investors don’t want to think about that nitty gritty, but they want the end result of here’s what the numbers are telling me.
So having that system of being able to get it to the person that. It’s actually, I’m trained to do it.
Mike: [00:23:12] Yeah. And one other, one other thing in there is a, you know, a tax, a tax strategy person too. So real estate, unlike many other businesses, there’s some amazing opportunities for, uh, reducing your tax bill at the end of the day.
And if you don’t have clean financials, like a tax strategist or a tax person can’t help you because they don’t know that’s for them. That is the story of your business, is your financials. And if you’re, if you’re living out of a shoe box or something, uh, they can’t help you. Right.
David: [00:23:38] Exactly and it’ll just, and it’ll save you money with them too if you’re handing them over clean financials, they don’t have to spend a bunch of time cleaning that up if you’ve been doing your job upfront with your system and process to get it in there.
That way they can come in and do what they’re good at. They’re probably not as excited to go in there and clean up a bunch of stuff, but they are excited to go in there and help you save money on [00:24:00] your taxes.
Mike: [00:24:00] Yeah, yeah. So David, I know you have your, uh, as a member of investor fuel, you’ve started helping some of our fuel members, and you’ve got this, a book here that I’ll share with you that you share with people, less stress, more profit.
I know you have this on, on your website. You could give us a link here in just a second, but you guys should check this, this, uh, check out David’s book. If you heard this and you’re like, I’m not super excited about it, but I know I need to do something. Or maybe you are really excited about, you know, either way.
Uh, you need to kind of align yourself with people that can help with these things. So, um, if folks wanted to learn more about you and your, and your, so you have a, you have a bookkeeping service for real estate investors that can help put transactions and stuff into QuickBooks and basic, uh, bookkeeping stuff.
And then I know you have a fractional CFO service as well. I mean, for real estate investors out there, I know that this common theme that’s been going on for a long time is. None of us really want employees and we just like want to come and go as we pleased and all that. And there’s nothing wrong with that.
The cool thing is on like ever before, [00:25:00] there are like fractional CFOs or it’s somebody that’s virtual that’s kind of tracking things for you, fractional accountants, bookkeepers that are, you know, a virtual, but they can, you can do everything through online systems like QuickBooks online and stuff like that.
So where do people go if they want to learn more about your, your services and about your book and things like that, where should they go.
David: [00:25:19] Simple CFO solutions.com is the website, and then on there there’s a tab called recession-proof business, and that’s where the link to the book is, and you can purchase it off of Amazon.
Also on that link you can find on Amazon that it’s on ebook too, and audio book. Because I as an investor myself, I knew that a lot of the books that I read over the years, I’ve been on audio books so. It’s a quick read. It’s about an hour and it’s stuff we talked about here, but it goes into it a little bit more in depth.
I try and give real practical applications in there too, so that way it can actually help you. It’s not just a lot of stories and stuff, it’s about how can you actually have less stress, more profit in your business. And [00:26:00] a lot of that is looking at your numbers as a business owner and seeing where you stand currently.
And do you need to pivot today or do you need to do more of what you’re doing.
Mike: [00:26:08] Right, right. Awesome. And David, uh, we’ll have links down below in the, in the show notes. For those of you that are, might be listening right now and not have the ability to write. So just check out this, uh, show. Um, so David, if, uh, any recently joined us at investor fuel, and you got to experience our event here.
Just, uh, just last week, right? Got it. Seems like it was a while ago, but just last week at our event and we had, gosh, we had probably 170, 180 people there at its peak on Wednesday. Any, any, uh, IX. Can you kind of share a little bit of testimony on your experience of being a part of the investor fuel network so
David: [00:26:40] far?
It was a great group. I have been a part of other masterminds over the years and especially when I was a part of the bigger group, I got to see a lot of different masterminds. And investor fueled definitely stands out, is that it is a truly giving group. Where there’s everyone is in there not to beat their chest and say, look at me and how big, you know, how many deals I’ve [00:27:00] done.
No, they’re proud of their accomplishments, but they’re also, okay, this is what I did. How can I help you? So it’s really a huge, a huge group of people that really care about each other and about giving back. And it’s not just about, Oh, this is how many deals I did, and guess what? You know, I’m the best, and whatever.
It’s about really giving back. So I’m even repping my investor for today. So I really enjoyed being at that. At the meeting and it’s the . It’s the type of environment that I like surrounding myself with those type of people too. And it’s definitely a great mastermind if you want to be around a given group of people.
Mike: [00:27:34] Awesome. Well I appreciate that. So thanks. Thanks for being a part of it. So, uh, again guys, we’ve got the links down below where you can learn more about David, get access to his book and his services, and he’s been a great guy. He’s, he’s really highly respected in the industry. I’d definitely encourage you to check it out if you haven’t already subscribed to this show.
Uh, the investor fuel mastermind show on iTunes, Stitcher radio, Google play, YouTube, anywhere where you could possibly watch or listen to this, we’d appreciate it if you, uh, [00:28:00] subscribe, maybe even share it on social media so that you can share it with the other people that, that, you know, we get some value out of it.
We certainly appreciate that. Of course, you can get access to all of them. Our investor fuel shows on investor fuel.com as well, so appreciate you a bunch. We’ll see you guys on the next show.
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