Title: “Cornerstones of Success: Building Your Real Estate Business Brick by Brick”
Episode: 225
In this episode of Profit First for REI podcast, we have Frank Iglesias. He is a real estate investor who tells several deep things about his real estate journey.
Frank is well-versed in many areas of real estate. He talks about the right coach in his life that helped turn him around, the right timing, and books that helped him. Listen to this episode if you want to become a good business owner. Enjoy the show!
Key Takeaways:
[00:46] Introducing Frank Iglesias
[01:53] How he got into real estate
[05:10] “I wish I would have just picked one route.”
[09:04] Sales and marketing in real estate investing
[13:20] Learning about new construction
[15:18] Difference between fix and flip and new construction
[19:49] The money side of new construction
[27:23] Fundamentals and People’s Journey to Success
[30:04] Connect with Frank Iglesias
Quotes:
[06:25] “I wish I’d learned more about business because real estate is just the vehicle. It sits on top of this.”
[08:35] “Most real estate courses don’t teach business, they teach real estate. But it’s a different world when you start looking at it as a vehicle.”
[18:04] “What I like about new construction is you’re creating something. I like the creation process.”
Connect with Frank:
Website: https://frankiglesias.com/
Tired of living deal to deal?
If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. – David
Transcript:
Speaker 1 (00:00):
The numbers are very important, but it’s a different metric of calculations, and we’ve learned to put a healthier profit margin on ’em. It is a lot of work when you build a house and you don’t make much money. You’re like, okay, we didn’t get this right. We got to make a shift.
Speaker 2 (00:19):
If you’re a real estate investor who’s sick and tired of living deal to deal, then welcome home. Hear from everyday real estate investors just like you, and discover how they’ve completely transformed their business by taking a profit First approach. This is the profit first for REI podcast, where we believe revenue is vanity. Profit is sanity. It’s time to start making profit a habit in your business. So here’s your host, David Richter.
Speaker 3 (00:46):
Hey, it’s David Richter of the Profit First RI podcast. Have Frank Iglesias here today. Have a really great episode. He talks about several deep things of his real estate journey of splitting focus and how that hurt on his journey, the right coach in his life that helped turn things around the timing and reading books, and just the books that have helped him, and the books that were shiny objects. It’s just really good information here if you want to become a better business owner. Frank Shears, a lot of wisdom and I look forward to having you listen to this episode and diving right in. Thank you for being a listener of the Profit First RI podcast. Hey everyone, it is David Richter of the Profit First, REI podcast. Super excited to have Frank Iglesias here. I was on his podcast too, you got to check out his podcast as well. But I’m super excited because he’s read Profit First, been down that road in the real estate world, helping other people. So Frank, thanks for being on the show.
Speaker 1 (01:43):
Thank you, David. I appreciate you having me out.
Speaker 3 (01:46):
Well, for people that don’t know you get into real estate, what brought you to this point? So then we can go a little bit deeper.
Speaker 1 (01:55):
How did we get to real estate? Well, I was a former IT guy for 15 years, and toward the end of that world, I like many people back in this is 2008, got that email or I don’t even remember what it was about a Rich Dad Poor Dad seminar.
Speaker 3 (02:14):
Nice.
Speaker 1 (02:15):
And of course I didn’t really know, so it was just kind of, but it was pretty with the purple or whatever his colors, the mouse and all that. So I was like, all right, we’ll go. We’ll check it out. I was just starting to learn a little bit about investing, so I was like, all right, we’ll look. And of course, at the end of whatever it was, couple hours, it was like, whoa. Right. So then that went to, and the drill, right? It goes to the one day thing, and then next thing you know you’re buying three classes. But what I didn’t know was when I bought three classes, I kind of messed myself up the more I think about it, and it’s because it was foreclosure wholesaling and lease options. And with that is all those were great. And of course, this is at the beginning of the real estate crash. So foreclosure of course blew up, but it kind of split my focus. And so I tell people right off the bat, yes, I would’ve done it a little different. I would’ve gone deep on one rather than buy three classes. I would’ve figured out one and go all in on that. But I was a former IT guy, so what was I good at? Multitasking.
(03:30):
So it was just natural. Oh yeah, three more things to do. That’s an everyday thing in my world,
(03:38):
But I didn’t realize what I was really doing was creating a little bit of a jack of all trades approach rather than a focused approach. So I tell people, don’t do it the way I did. Don’t do what I did. Pick one path and go. So what I did was the next few years, so I ended up leaving it because quite frankly, I was bored. Great company, great job, great team, everything was great, and I was bored. So it was kind of like, all right, if everything’s great and I’m bored, clearly it’s time for a change. And so we went all in on real estate, but we were always, it was the wholesale thing. It was buy foreclosures with the idea of renting and then lease options. There really wasn’t too much of back then, right? Because everybody was kind of like crazy. But we did some fix and flip as well. And so we kind of always had multiple things going the whole time. That’s how we got into it and just sort of evolved from there into bigger projects and so forth.
Speaker 3 (04:46):
Since you’re telling people not to go that route, how has real estate been for you? Was there a lot of dark times during that time, or was it like, Hey, this is good, but it’s just not getting us to where we want to be? I’m just wondering in your perspective why you’re telling people, I wish I would’ve just picked one route. You spread yourself too thin, or what were some of those factors?
Speaker 1 (05:11):
So no doubt we were spread too thin, but we didn’t even really realize it
(05:17):
Because we were doing the fix and flip, and then we would do the buy fix rent. But then I learned about wholesaling res from Lee Kearney, which everyone knows he is, and that was fantastic. And in retrospect, I wish I’d gone all in on that, but you can’t change the past. But we still did it, but not to the degree he was doing it, but we always kept that tool in our toolbox, and we did wholesale a lot, but it was just you look back and you’re like, man, if I had just done one thing instead of two or three, or maybe if we didn’t wholesale anything because all the properties were cheap, what if we just bought everything and kept it
Speaker 3 (06:04):
Right?
Speaker 1 (06:06):
We can all look back and go, wow, that’s exactly what we all should have done. Right? Right. Yeah. But you don’t know these things, especially when you’re new. And back then I was learning real estate. I really wasn’t learning business. And so now I’ve learned since then, I’m in some ways I’m like, man, I wish I’d learned more about business because real estate’s just a vehicle that sits on top of business fundamentals.
Speaker 3 (06:32):
So then where would you say you learned fundamentals of business then? If you would’ve gone back, what type of education around business would you have gotten?
Speaker 1 (06:42):
I would’ve gotten a business coach. Basically what’s happened, I got a business coach where a strong, all right, we got to learn sales, we got to learn marketing, we got to learn branding, we got to learn systems, procedures. And the crazy thing about it is I came from it, so it’s like I did it 15 years. It wasn’t like these were necessarily all new concepts, but the reality is I was burned out on it. So I didn’t have that coach to say, let’s pull those things you are good at already. And you understand into your real estate business. Yeah. You go to a class and you’re like, all right, you got to build systems to run a wholesale business, a flip business. And it’s like it’s, it’s some new concept. It’s not new. Every corporate business that’s successful has ’em, but we just didn’t link the two. And so I think to myself, man, I lost a lot of time because I didn’t take advantage of strengths that were already there. And I said, I tell people, if you’re going to be in business, have a coach do not do real estate without a coach.
Speaker 3 (07:52):
I think that’s very interesting what you said, because you’re like, I had this background, I knew systems were around, but it’s almost like you needed someone to point in your situation to be like, Hey, you’re missing this part. And you should have had someone there guiding you along that path. So did you ever invest in a business coach along your journey?
Speaker 1 (08:10):
Yeah, we finally got into that a few years ago. We finally got someone to start helping us, and it’s now opened my eyes to other people that coach business. And now you look at, and once you start getting that knowledge, it’s easy to look back and go, wow, we would’ve done this totally differently, but you can’t focus on the past. We did the best with what we knew at the time, but the reality is most real estate courses don’t teach business. They teach real estate, but it’s a different world when you start looking at it outside of when you see real estate as just a vehicle, you realize there’s a whole layer beneath it that without that it doesn’t run smoothly.
Speaker 3 (08:55):
And you kind of touched on that with those different areas of the business, but what do you think are those important areas that everyone needs to learn that’s not just real estate specific, but more business specific?
Speaker 1 (09:08):
So right off the bat, sales and marketing that you got to know sales, you got to know marketing. I mean, those are the two big ones. I mean, do you need office systems? Of course you do. You need those things to just handle those fundamentals. A big one that I wish we had understood a lot sooner was bookkeeping, the financials, because a lot of investor, I don’t want to deal with it. And then my experience, most CPAs exactly, they’re like, all right, here’s a tax return. Maybe you’ll get a tax strategy meeting, see you in a year.
Speaker 3 (09:46):
Exactly.
Speaker 1 (09:47):
Whereas that whole financials aspect, really understanding the numbers is a huge piece of it. So it’s easy to scale a real estate business and still have no idea what’s going on with numbers, at least you think. And then you start realizing, wait a minute, there’s a lot more to uncover here, but then you’re going back to that same CPA and they’re not a bad person, and they might’ve even done a great job on your returns. But the business coaching is what helps us connect the dots on how all these pieces work together. So you’re a business owner, not just a real estate investor.
Speaker 3 (10:30):
Yeah. Oh, that’s really good. So that reminds me a lot of the, what’s it called, the Cashflow Quadrant or that other book by Robert Kiyosaki? Yeah. Cashflow Quadrant. Did that help you, or where did you get that mindset of, oh, shoot, I shouldn’t just be a real estate investor, should be a business owner as well too. Was it from that training? It sounds like that was a big turning point in your life, was taking a lot of that training upfront, and I just wondered where that came from too, or if you’ve learned something through that or somewhere else.
Speaker 1 (11:07):
So the Cashflow Quadrant’s a great book, right? The whole EIS, all that. But the thing about cashflow quadrants, I read it very early, so I didn’t really, and so anything else, when you read it, it sounds great, but until you start living it, you don’t really
Speaker 3 (11:27):
Your ball game.
Speaker 1 (11:29):
When you start living it, you’re like, oh, this is the difference between a business owner and an investor. Because a lot of times those, and especially in real estate, a lot of times those things can look the same and they’re not. It’s two different worlds. So no, it was several years before I came across a business coach. I was actually doing a speaking thing, and I went a speaking event because I was running real estate meetings. So I got the email, I don’t know how I got the email, but I got the email and I was like, oh, well, I already talk every month at a couple of meetings. Let’s go learn about it. It was interesting, and one thing led to another, next thing I know is I’m signing up for what they’re doing. And I had no idea that what I really was signing up for was, this is the world of business, what it’s like to be an entrepreneur, what are the ups and downs? And it just started, began a slow shift in my mind, and I say slow because by then I’ve done real estate for a decade. And so you start building what you think is what you should be doing, and then 10 years later you’re like, maybe we need to start rethinking this. And I would tell you to this day, we’re still pivoting.
Speaker 3 (12:50):
Yeah, yeah. It’s like you build those habits in, it’s hard to change ’em or it’s hard to, there’s so many areas of business, it’s getting all the pieces to fit. Now, before we were talking or recording here, you jumped more into the new construction space, it sounds like. So what was that journey like going from doing multiple exit strategies, now you’re kind of focusing there, and why new construction? And I’m just very curious to see your take on that.
Speaker 1 (13:21):
So we did fix and flip of course for several years, and that evolved into, someone presented me a deal and it was our first full gut. So back then it was like, oh, that sounds exciting. The numbers look pretty good. It was our first edition. And so we did it and it worked out okay. It was very interesting. But any new toy, it was exciting. It’s like, all right. And then of course, I met people. I would partner with people that led to a pop the top deal we did converting a triplex to a single family, that was an interesting one, learning deal with historic properties. And some were in there, someone brought us a deal and it was a pretty rough looking house all boarded up. And so of course I’m thinking, oh, okay, it’ll be another one of these full gut remodels. And it turns out that it was in really bad shape.
(14:20):
So we had a private lender at the time that was like, all right, well, let’s do it. We got it so cheap. It was silly, especially at the time, it was silly cheap. So we were able to buy it and actually spend a few months learning about new construction, just kind of learning from whoever I could. And then next thing you know, we were like, all right, we’re going to do our first demo. We’re going to knock it down. And then we built it and it was beautiful, and we learned a lot of lessons along the way, but little I know that not only would that start of the business increase, but new construction is a very different animal from fix and flip. It really is. And I tell people, I know you’re seeing hammers and sheet rock and drywall, and you’re thinking it’s the same. I’m here to tell you it, it’s not. It’s two very different worlds.
Speaker 3 (15:12):
Talk about that. What makes the biggest differences between fix and flip and new construction?
Speaker 1 (15:18):
The biggest thing is you’re going to deal with, in new construction, you have a lot of preparatory work before you ever do a thing. There’s a lot of preparation. It doesn’t exist in remodeling because you’re dealing with existing structure. Things are going to get grandfathered in. Could you still meet an architect? Of course you could. If you have a bigger project, you could. And you can make a rehab complicated, but you don’t have to. Whereas in new construction, you’ve got to invent everything. You’re starting from square one. And then if you’re tearing down a house, I tell people a tear down is nothing more than a land deal with an extra step. That’s all. It’s
Speaker 3 (15:59):
Right. Yeah.
Speaker 1 (16:00):
At the end of the deal, at the the day, it’s a land deal that you need to get cheaper. You’ve got to get rid of an existing structure, which is its own process, but there’s a lot more prep, there’s a lot more time. Everything’s got to be up to current codes, depending on municipality. You might have meetings, you might have variances, you might have X number of things to consider. Then in that remodel project you don’t have to deal with. And if you’re doing a spec home, which is typically what investors do, okay, most investors are not doing production neighborhoods of a hundred cookie cutter homes. It’s usually that one house, two house, maybe a small block of houses, and those are treated on a one-off basis, and they’re effectively many custom homes. And you would think if you’re just going to, oh, let’s just go get plans, and it all just flows beautifully.
(16:53):
That is most definitely not reality. So it can flow pretty well, but there’s all these little things and you’ve got to be the person to answer all these questions that come up that quite frankly, you don’t even realize exists until you’ve done it and you’re just like, oh my goodness. And by the way, it might not even be the house. It might be the lot. It might be infrastructure, it might be the neighbor. We have streets in Atlanta that literally flood, and if a little bit of dirt gets off of your yard and down the street, the neighbor’s call in, they’re complaining because there’s a spot, there’s a little piece of mud in front of their yard 50 feet away. It’s like, oh my goodness. Right? Yeah. So there’s a lot of things that go into it that you just generally don’t have to deal with when you remodel, especially if it’s not a huge remodel.
Speaker 3 (17:45):
Okay, but you went the new construction route. So even with all that prep work, is it better than, do you like it better than going into a remodel?
Speaker 1 (17:57):
So this is where it becomes very preferential.
Speaker 3 (18:00):
Yeah, that’s why I want to know what you like.
Speaker 1 (18:04):
What I like about new construction is you’re creating something. I like the creation process. I get excited when you’re like, there was nothing and now there’s something.
(18:16):
And that’s not even necessarily real estate, that’s just what I like. I have that, but not everybody’s like that. Some people are more of the Let’s polish it up mindset. Yeah, well, if that’s your thing, you probably won’t lighten. New construction remodel is going to make more sense. I still enjoy some remodeling. I tend to the easier projects, but the big full Gods fire damage pop the tops. I don’t get as attracted to that because they become very intensive, but you feel like you’re always fixing something, whereas a new construction, even though you’re fixing something, it always feels like you’re creating.
Speaker 3 (18:56):
So
Speaker 1 (18:57):
It’s two different emotional, and that’s just me. Someone else might tell you something different. But that’s how I look at it is, yes, I’m creating in a remodel, but really I’m usually fixing something. It’s usually a result of something else that has to be fixed.
Speaker 3 (19:15):
What about the money side of things? So you’ve got the emotional side of which I really like that this is like your creativeness is what’s driving this. You want to create, what about the money side? Can you make more in new construction? Is that not one of the things that matters to you as much? It’s like I’d rather just create, even if I don’t make as much as maybe if I went and did pop the tops and remodels and stuff like that. I’m just wondering for your situation if you see that or what you think about on the actual dollars and cents side.
Speaker 1 (19:49):
So no, that’s a great question. And what we’ve learned is both can be very profitable
(19:57):
And both can also get you in a lot of trouble, especially if you’re dealing with bid remodels. And we’ve experienced the mountaintop and we’ve also experienced the valley. So we’ve seen both sides. We know what it’s like to win bid. We also know what it’s like to lose where it really hurts. We’ve seen both sides of it. And what I would tell you is it’s important, but it’s like any other deal. You got to make sure the numbers make sense. And the mistake I made, and I use that word carefully, is when we do remodels, what do we typically do? We learn the Mayo formula, maximum allowable offer minus rehab, and we’re assuming you’re not wholesaling. So it’s mats minus rehab, boom, buy it, go. That formula is not very effective in new construction. In fact, I don’t think it’s hardly effective at all, is what I found.
(20:54):
And the reason is in new construction, you have a lot of variables. Again, there’s a lot of preparatory work, so there’s a lot more variables involved than even in a bid remodel is a big remodel. You’re going to do X, Y, Z, and then you’re going to throw a big contingency on there. If it’s, especially on a bigger project with new construction, you’re still going to have that contingency. But there’s so many more variables to consider just now I’m dealing with a lot issues. I’m dealing permit specific issues. I, I did a video on this recently. You have impact fees that doesn’t exist in a remodel on some municipalities, impact fees can go easily well into the five digits for a single home.
(21:37):
That’s a substantial amount of money that you don’t ever have to think about over here. So what we’ve learned is we started new construction using Mayo again, thinking, well, that just makes sense. Well, not really. So we ended up building a different calculator altogether to help reverse engineer the process of new construction to determine is this going to work? And it’s funny because one of the most common questions I get is this, lot’s been sitting here for a while, nobody buys, and I can buy it cheap, very common. And the answer’s almost always the same. Well, the reason it’s really cheap is because no one’s going to make money building on it. If the RV’s 300 grand and with today’s money, you’re not making money. I mean, the seller would have to give you a hundred grand, and this is in our market, the seller would’ve to give you a hundred grand to take it off his hands for you to entertain buildings, say a 1500 square foot simple house because of the way the numbers are. So people get attracted to these cheap lots, and you’re just like, there’s a reason why it’s not too good to be true. In fact, it’s usually not good at all. So the numbers are very important, but it’s a different metric of calculations. And we’ve learned to put a healthier profit margin on it is a lot of work. It’s a lot of work. When you build a house and you don’t make much money, you’re like, okay, we didn’t get this right. We got to make a shift.
Speaker 3 (23:16):
That’s really good. And that’s where now, are you still doing other types of deals or is it just new construction that you’re focused on?
Speaker 1 (23:25):
No, we’ll still do some flips, but we’re leaning towards simple ones.
Speaker 3 (23:29):
Yeah,
Speaker 1 (23:31):
No more of the fold guts. I mean, not to say we wouldn’t do it, but we’re not looking for them per se. We’re more looking for just easy deals, some more wholesale deals, buying whole stuff. After all these years we’ve grown to appreciate, let’s just do deals that make money quickly. And then stuff like new construction is great, but it’s almost like a pet project.
Speaker 3 (23:56):
Okay, that makes
Speaker 1 (23:57):
Sense. Right? Because other, for a while we had everything was new, and the problem is they take so long and you want to have that cash flow in the middle. So if your goal is to invest in real estate, make sure you’re, and again, going back to business fundamentals, had I had that business coach, Hey, make sure your cash flow business deals, whatever they are, rentals, wholesale, whatever is solid. And then you can plug in new construction because that’s not fast money.
Speaker 3 (24:31):
That makes a lot of sense. So you’ve learned that it’s the fastest path to the cash, and then taking on some of these bigger projects where you might make more or might be a good creative outlet, but don’t do those if you need cash quickly if you’re going to dinner, correct.
Speaker 1 (24:47):
Yeah, because you’re basically creating pain. And that’s something we learned the hard way. We’re like, okay, wait a minute. But again, I wasn’t getting that the help I needed until I stepped out of certain circles and put myself in business oriented circles. When you look at it from a business perspective, a new construction or a wholesale deal at the end of the day, a transaction on the books,
Speaker 3 (25:15):
Right? Yeah.
Speaker 1 (25:18):
It’s a transaction. And you work with finance, so I know you’re right. At the end of the day, they’re all just transactions on the books. So what is that time involved to execute those transactions? And then you’re like, oh, wait a minute. I didn’t get that perspective. My perspective before is let’s go get the next deal. Let’s go get the next deal.
Speaker 3 (25:37):
Yep, exactly. And it’s like you said, it’s a transaction and you’re all just going after that same goal of, okay, do we have more money than we had before in this business to make sure that it’s actually working? If you’re going the wrong way, it’s a good way to go down in business. So I like how you put that in just very simple terms. It’s like, okay, at the end of the day it’s just a transaction. But I think there’s been lots of good insights here where you got into it from the Rich Dad seminar, but then from there, I like how you said that perspective of don’t split your focus. I feel like that’s just so resonant with so many people. They get this shiny object syndrome and then they’re like, Ooh, that sounds good. Or, I’m taking these different classes, learning these different things, going to an event and like, oh, I should be doing what they’re doing.
(26:26):
So really focusing, getting a coach in your life is specifically a business coach, someone who knows business and not necessarily just always the niche that you’re doing real estate or whatever. I thought that was really good advice. I liked what you said too about the right timing. When you talked about reading the Cashflow Quadrant, it’s almost like that was good at that point, but then once you’re actually in the trenches, things mean different things than when you read ’em before you were in it. So I thought that was really good too, which I know this is first RII podcast, so it’s like, sounds like that’s what happened when we were talking before about Profit First. It’s like, Hey, this is a great concept. Now let’s start to implement it once we get things rolling here and going down that path. So speaking to that right timing thing as well too.
Speaker 1 (27:17):
And you mentioned the book Cashflow Quadrant, and another thing I’ve learned is we’re always seeing what’s the next great book? What’s the next great book? What’s the next great book? And it’s like the books themselves become shiny objects.
Speaker 3 (27:31):
That’s so good.
Speaker 1 (27:33):
But in reality, the most important books that I’ve learned are one of twofold. One, the ones that focus on fundamentals. And I think the other one, because right, because we need those fundamentals. I always loved that Michael Jordan always talked about fundamentals and he was the best. So it’s like, right. But then you also have those books about people that their journey to success. And I think those are really valuable because when you hit hard times in this business, and you will, everybody will, it can get pretty dark. And we need those people that have walked that path before us
(28:17):
To remind us as dark as a moment might feel, you’re not the only one that’s been there. The sun will rise again. And I think that’s where also having that business coach helps to really help keep you reminded of help keep you grounded, so to speak, that as you go through a tough time, it’s like you’ll pass. And I put myself in some circles where I got to meet some very successful people in all facets of business. And one of the things I really loved about that was the ones I talked to, they echoed a similar sentiment, which was, it’s hard to appreciate a ton of success if you haven’t first walked through a very dark path. You need that when you go through that really dark time, then when you come back up to the mountaintop, it means so much more than it might have if you’ve never had a dark time. So there’s a lot of gratitude in there.
Speaker 3 (29:26):
No, that’s good. I like that last minute advice where you said books can become the shiny objects, and then how the two types of books over your career that have really helped you, fundamentals and the journey to success and knowing that you’re not alone, because that’s really good, because so many people, like you said, feel like sometimes that they’re just that island to themselves, and it’s like, well, lots of people have walked this path and just getting around those people reading the books about, that’s really good. So I really like that. So then Frank, how could people connect with you? I don’t know, a website, you’ve got the podcast, I don’t know, want to, how can people get ahold of you?
Speaker 1 (30:04):
Sure. So I’m on all the social media channels, all the common ones, Facebook, Instagram, LinkedIn, so forth. But I love phone calls. Our number (678) 408-2228. So text or calls. We’re still a little bit old fashioned that way if you call, leave a voicemail, we’ll call you back. We really will. We actually do check our voicemails. It’s pretty cool. And also my website, frank decia.com. There’s a contact form there between any of those. I mean, I’m not, if you Google me, I’m not hard to find.
Speaker 3 (30:38):
Well, there you go. That’s how you can connect with Frank if you’ve enjoyed his wisdom here. What is the name of your podcast so people can look that up too?
Speaker 1 (30:46):
Oh yeah. Our podcast is called What Worked For You? What Worked for You? And it’s a compilation of people that have had entrepreneurial success or still building up to it, having success in the process. And it’s about those journeys that people have taken. And it’s really been humbling because again, it goes back to the you’re not in this alone. People have had all these journeys to get there, and it’s some good stuff. Powerful. Very humbling. Yeah.
Speaker 3 (31:19):
Well, there you go. So what’s worked for you? That’s the name of the podcast. And then, oh man, this is really good. There’s just so many good golden nuggets here today. Remember not to split your focus. Remember to not have the shiny objects in your life, even if they’re books, then I really liked what you said, get that business coach, get the right timing, that type of stuff. But then if you’re also listening to this and you’re like, what the heck? I don’t know what I’m doing with my money and I’m making money, but feeling broke. And yeah, a lot of what he’s saying really resonates, but I don’t even know how to get ahead. You can head over to simple cfo.com. We can help you take that first step on your journey, get someone in your life that can help you and guide you and hold your hand if you don’t like the financial side of your business, so we can help you from the financial coaching aspect if you’re a business owner. Frank, this has been awesome. Thanks for coming on today, being a great guest and sharing your wisdom with all the listeners here.
Speaker 1 (32:19):
I appreciate it. Thank you for taking the time, and yeah, I enjoyed it. Thank you, David.
Speaker 3 (32:24):
And remember, if you’re listening to this Make Profit a Habit in Your Business,
Speaker 2 (32:29):
This episode of the Profit First for REI podcast is over, but there are plenty more where that came from. Are you ready to learn how David and his team can help implement the Profit First system in your business? Schedule a discovery call@simplecfo.com right now. We’ll see you next time on The Profit First for REI podcast with David Richter.
