Real estate pros often chase deals instead of playing the money game. The Profit First formula flips the script: take profit first from every sale, then use what's left for expenses. This keeps cash active in your business instead of funding everyone else's.
A lot of people think they're in real estate, but they're not thinking, I'm actually playing the game of money and I need to know the rules of the game. I need to know what I can do, what I can't do, and how it flows through, you know, like my hands and how I make sure that I keep it active inside of my business. And a lot of people don't think that way. So that's why we get mired in that mindset and start paying everyone else because we're just like, oh, as long as I can keep buying deals. But it's not about the buying of deals. It's about making sure you have a profitable business that you're running. That's why I like Profit First, the formula and the, you know, the brain space up here where it says, and it flips the formula on its head. It's sales minus profit equals expenses. That's the profit-first formula. I make a sale, I take my profit first, and then what's left over is the expenses for the business. And it's making sure to focus on the right things first.
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