How Much Do I Pay Myself as a Business Owner?

Join Pace Morby and David Richter, founder of Simple CFO and author of Profit First for Real Estate Investing as they discuss how to scale your real estate business and PAY YOURSELF according to the Profit First method. David explains why he wrote the book and how it has helped countless business owners not only make smarter financial decisions, but also PAY THEMSELVES. He breaks down the three big business accounts you need to separate money efficiently. If you’re a business owner, do you know how much to pay yourself? David discusses how to determine what your profit is and how much to take home.

Pace talks about how he’s implemented the Profit First method and how he scaled every business he’s ever operated. Discover why this system works. 96% of businesses will never do a million dollars a year in revenue because they haven’t scaled because they don’t understand the money blueprint portrayed in Profit First.

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Chapters:
0:00 - Intro
1:00 - Simple CFO
2:40 - Profit First for Real Estate Investors
5:18 - David’s First Real Estate Deal
7:56 - Scaling Your Business
11:00 - Profit First Model
20:40 - Different Accounts to Make/Use
24:15 - How Much Do I Pay Myself?
28:53 - Profit First Money Blueprint
33:00 - Outro

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⬇️ Get My Exact Wholesaling Contract For Only $1 (I Paid Thousands) ⬇️

🔌 PLUG IN & SUBSCRIBE 🔌

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⚠️ #CreativeFinance #Investing #Wealth #RealEstateInvesting #Wholesaling #SubjectTo #HowToGetStartedInRealEstate ⚠️

🚧🚧🚧 DISCLAIMER 🚧🚧🚧

❎ I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a YouTube video for entertainment purposes ONLY ❎

[gravityhurts]

Man, I am reading this book right now and this is such a great podcast. Thank you for doing this!

[amyvanslambrook]

Love the original Profit First from Michael Michalowicz book but get to read this one now!

[FadeingRevolt]

Just bought the book ! Let the games begin

[nandingpanelo]

Thanks Pace and community i learn a lot

[thestokesmenchannel]

I’m drowning listening to this 🤣, please do a “Talk to me like I’m new” episode 🤦🏻🤣

I’m literally just starting and just started my first LLC

[bigdavebangs]

Thanks for the info definitely getting the book and thank you and the community for all that you guys/girls do very much appreciated

[JordanVanDelinder]

I had this problem!!!! I wish I would have known about this book! Growth can break a company! Had to learn the hard way