Profit First for Real Estate Investors – Details, episodes & analysis

In this episode, I sit down with Jonas Medrano, a powerhouse of discipline and drive who took the principles he learned from sports and fitness and applied them masterfully to real estate investing. From wholesaling his first property to scaling a $12 million business from his dining room table, Jonas’ story is not just about financial success, it’s about the mindset and grit it takes to get there.

We dig into how Jonas adopted the Profit First philosophy early in his business and how that has fueled his high-profit margins and lean operations. He also opens up about his new passion for coaching and the exact type of driven individuals he’s looking to mentor. If you’re looking for inspiration and actionable insights from someone who’s done the work and built a thriving real estate business from the ground up, this episode is for you.

Episode Highlights

[0:00] – Introduction

[1:01] – The “Profit First” moment that brought Jonas and I together

[2:03] – Jonas lands a $40K wholesale deal right out of the gate

[3:44] – Self-imposed “jail” of learning 16 hours a day to master wholesaling

[4:48] – Securing his first deal just one month into wholesaling

[6:07] – Discipline rooted in sports and inspired by Kobe Bryant

[9:35] – How Jonas turned wholesaling into a $12M-a-year business

[10:56] – Scaling with low overhead, lean team, and high margins

[11:28] – Profit First mindset from day one, and saving $100K before hiring

[13:06] – Transitioning from wholesaling to fix-and-flip and holding properties

[14:25] – $60K average wholesale fees and $150K minimum on flips

[15:30] – Launching a coaching program focused on driven real estate newcomers

[20:09] – Jonas’ full involvement and personal access in his coaching model

[22:02] – Long-term vision: $1B real estate portfolio and $1M monthly passive income

[24:44] – Early signs of discipline, from flipping sneakers to excelling in school

5 Key Takeaways

1. Discipline is everything – Jonas credits his fitness and sports background for building the mental toughness needed to thrive in business.
2. Start lean, grow smart – He focused on maximizing profit and minimizing expenses, only hiring after saving his first $100K.
3. Education is the edge – Jonas consumed books, podcasts, and resources relentlessly to master his craft before making his first deal.
4. Profit First works – The financial structure and clarity from Profit First helped him build and scale a highly profitable operation.
5. Giving back creates fulfillment – Now Jonas is focused on coaching others and sharing the same tools and mindset that brought him success.

Links & Resources

• Follow Jonas Medrano on Instagram: @jonasmedrano
• Learn more about the Profit First system: simplecfo.com

If you enjoyed this episode, please take a moment to rate, review, and share it with someone who would benefit from hearing Jonas’ inspiring journey. And don’t forget to follow the show so you never miss an episode.

In this episode, I sit down with Alex Pardo, a self-storage magnate who transitioned from a thriving wholesaling and house-flipping career to building wealth through self-storage facilities. Alex shares his raw and honest story of realizing he’d built a stressful business that left him feeling stuck, and how he used Profit First principles to regain control of his finances and peace of mind — both in business and at home with his wife.

We unpack what it really takes to pivot into self-storage, why he believes it’s one of the most overlooked but recession-resistant assets available to investors, and how Profit First helped him save aggressively for big capital expenses. Alex also discusses who should consider investing in storage, what makes a deal profitable, and how adopting a disciplined money system strengthened his marriage and overall life satisfaction.

Timeline Summary:

[0:00] – Welcoming Alex and swapping Monopoly stories that reveal his competitive edge.

[1:59] – Alex’s first exposure to Profit First through Mike Michalowicz’s books and why it felt like a lightbulb moment.

[5:00] – How implementing Profit First let Alex save for a $100K+ CapEx budget, giving him confidence to move forward with major facility improvements.

[8:00] – How Alex and his wife adopted Profit First at home with dedicated accounts for vacations, Christmas, and giving — creating harmony in their marriage.

[12:52] – What led Alex to ask himself the crucial question that sparked his exit from the wholesaling rat race.

[14:35] – Why he calls scaling his wholesaling business “irresponsible growth” and how his experience taught him to value peace over profit.

[16:02] – His initial fears about moving into self-storage, and the surprising ways his wholesaling skills carried over perfectly.

[18:18] – A look back at whether he regrets leaving wholesaling given the hot post-Covid market, and why he doesn’t.

[21:04] – The powerful “play the movie forward” exercise Alex uses to make big decisions with intention.

[23:06] – His success story of acquiring, stabilizing, and selling a 638-unit storage portfolio — and why he only needed 1-3 good deals per year to move the needle.

[25:23] – Why self-storage can be semi-passive after stabilization, and how Alex spends just 1-2 hours a week managing hundreds of units.

[27:04] – Breaking down the three phases of acquiring a storage facility: marketing and analysis, financing and due diligence, and maximizing operations.

[29:03] – Why self-storage is recession-resistant: the unique psychology of people downsizing but unwilling to part with their stuff.

[32:05] – The differences in operating expense ratios between storage (30-40%) and multifamily (45-55%) — and why this margin creates more breathing room.

Key Takeaways:

1. Asking yourself tough questions — like whether you’d want to be doing the same thing a year from now — can change your entire trajectory.
2. Profit First isn’t just for business; applying its principles at home can bring couples closer and build long-term stability.
3. Your existing real estate skills may translate seamlessly into self-storage — don’t underestimate how much you already know.
4. Location and demographics are critical; a rough market can mean higher break-ins and delinquencies, even in storage.
5. Storage can provide high cash flow with lower management demands than single-family or multifamily rentals — making it ideal for those seeking freedom.

Links & Resources

• Learn more about self-storage investing and get free training from Alex at https://storagewins.com
• If you want to keep more of what you make with Profit First, visit https://simplecfo.com

In this episode of Profit First for REI podcast, we have Amanda Webster. She is a business funding educator, credit expert, leadership consultant, and speaker. She is also the Chief Operating Officer of Fund&Grow.

Amanda talks about her relationship with her CEO, things about purchasing properties or building your business credit and making sure that you are not just always spending your own money. This episode is for you! Enjoy the show!

Key Takeaways:

[00:56] Introducing Amanda Webster
[02:41] How she started working with Fund&Grow
[04:32] Law of attraction
[09:03] What makes a successful COO-CEO relationship
[12:38] About Fund&Grow
[18:12] Personal guarantees
[21:00] The lines of credit
[28:00] The advantage of using credit cards
[30:36] Connect with Amanda Webster

Quotes:

[05:29] "Leadership is what dictates the success of the company and its employees."
[19:04] "A lot of people don't realize the importance of separating business and personal business and how much over-extending your personal hurts you in so many ways."
[28:06] "There is an extreme amount of value in using business credit cards because there are points, rewards, and cashback."

Connect with Amanda:

Website: https://funding.fundandgrow.com/simple-cfo 

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

Brad Chandler is a seasoned real estate expert and the founder of Express Homebuyers, a company that specializes in assisting home sellers with a fast process and fair pricing. In the 20 years since it started, they have successfully bought and sold over 4,000 properties across the country.

Despite his professional success, Brad's journey was not without its challenges. He struggled with unresolved trauma from his childhood, leading to a lack of self-love and $9 million in business losses. 

Brad has since changed his perspective on success. He now focuses on providing as much impact through his real estate and coaching businesses and commits to having a healthier relationship with money by implementing Profit First. 

We’ve got an inspiring episode ahead of us, and I’m excited for you to tune in!

Key Takeaways:

[00:47] Introducing Brad Chandler
[02:14] Why is Brad in Real Estate?
[09:05] Unresolved Trauma and Why You Should Deal With It
[15:43] Success is More Than Solving Money Issues
[16:55] How Brad Faced His Unresolved Trauma
[19:21] How Brad’s Process Differs From Therapy
[21:04] Unresolved Trauma and How It Affects Your Business
[24:37] Self-Love and Self-Compassion are the Path to Freedom
[25:26] Recommend Resources
[26:02] Self-Development is a Life-Long Journey
[24:51] More Advice From Scott: Go to Flip Hacking Live
[25:30] Connect With Scott

Quotes:

[07:23] “I don't need to go make a bunch of money and prove anything to the world. Because I already know the truth. And I'm enough. So I've switched [to] making an impact.”
[21:54] “When you have unresolved trauma, and you feel unworthy, that means that you're likely in a fight or flight stage. When a lion is chasing you, how creative do you think you can [be]?...How great do you think you can [plan] the next step, or how to plan for the next business meeting, or talk to a seller? You can't.”
[24:42] “The only way that you get freedom in life is through self-love and self-compassion.”

Connect with Brad:

• Find Brad’s Socials on His Website: www.bradchandler.com/contact

Recommended Resources:

• Radical Acceptance by Tara Brach
• Way to Love by Anthony de Mello

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 

Profit First isn’t just a method for struggling business owners. Our guest today is proof that Profit First is a system that can benefit even the most successful entrepreneurs, giving them a better way to manage their cash flow. 

Trey Taylor is a talented businessman, speaker, and executive leader. He holds the positions of CEO at Taylor Insurance Services, Managing Director at trinity | blue consulting, and Founding Partner at Ascend Partners. He is also the author of “A CEO Only Does Three Things,” a book I’ve had the pleasure of reading and applying in my career.

Today, he joins us to talk about his career, the problems he encountered along the way, the importance of partnership, and how Profit First revolutionized his business. Catch the full discussion here!

Key Takeaways:

[00:41] Introducing Trey Taylor
[07:11] How Profit First Fits Into His Business
[08:27] Problems He Encountered Before Profit First
[11:33] The Effect of Implementing Profit First
[16:12] How Profit First Gives You a Better Perspective on Money Management
[20:30] On His Real Estate Business, His New Partnership, and Implementing Profit First Into It
[26:41] On His Book: “A CEO Only Does Three Things”
[29:01] On Using His Book and the Profit First for REI Book to Get as a Way to Start Conversations Between Partners About Money
[35:46] Advice for People Who Want to Get Into Real Estate Investing
[40:13] Connect With Trey

Quotes:

[8:10] “ I remember reading it on an airplane. I came home, got my accountant and bookkeeper together, and we sat down and revamped our entire financial picture.”
[23:21] “Yeah, I think it's all about over; communicating everything before you make the decision. Partnerships are marriages, in almost every sense of the word, they are legal unions…and so you need to have a way to get into that, which should be based on shared values that are authentic to both of you.”
[36:54] “Don't wrestle with the ideas [once] they've been proven out, just implement them...don't study on [Profit First] for too long, just get it into place, and start letting it benefit you, and growing your business through that.”

Connect with Trey:

Website: trey-taylor.com
Consulting Website: https://trinity-blue.com/
Newsletter: https://plantyourflag.substack.com/
Get a copy of his book “A CEO Only Does Three Things”: https://www.amazon.com/CEO-Only-Does-Three-Things-ebook/dp/B08L8FRQQ8

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 

We’ve heard the benefits of applying Profit First and how it can change the way you manage your money for the better, but not about what it can do for you when you start using it from the very beginning.

Our guest today is Scott Carlin, an Air Force engineer, realtor, real estate investor, and the owner of Stellar Realty Investments. He is also a big believer in the Profit First method and has seen firsthand how it has impacted his business.

In this episode, Scott discusses how the Profit First method has helped him set up a system to achieve his goals while still having money for marketing and other expenses! Whether you’re a new or seasoned investor, you’re getting value either way. Tune in!

Key Takeaways:

[00:46] Introducing Scott Carlin
[03:34] On Joining a Mastermind
[05:50] On Getting Five Deals Within His First Few Months of Wholesaling
[08:55] On Learning About Proft First
[11:16] On His Current Deals and What Got Him Into Wholesaling
[13:15] On Scaling His Business and Transitioning to Real Estate Full-Time
[15:13] Scott’s Advice for New Investors: Join a Mastermind
[17:21] On the Importance of Knowing Where Your Money is Going
[19:43] What is Scott Doing With His Profit Money?
[21:22] Scott’s Keys to Success
[24:51] More Advice From Scott: Go to Flip Hacking Live
[25:30] Connect With Scott

Quotes:

[15:22] “Join a mastermind…What made me take action was joining a group and getting a coach.”
[17:21] “Cashflow—they don't know where their money's going. Like I had originally before Profit First, they just had just everything in one account. And I didn't want to do anything with it, because I wasn't really sure how much money I could scale up.”
[21:56] “I have a lot of the things that I've learned in the Air Force. It’s…directly been beneficial in my real estate career…[The] dedication, persistence, leadership. My ability to focus.”

Connect with Scott:

Website: www.floridaREbuyers.com
Facebook: https://www.facebook.com/carlinscottm/

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 

Peter Kolat, also known as Polish Peter, is a multifaceted professional in the business world. He's an investor, entrepreneur, speaker, and transformational coach. He is a coach from Lifeoanaire, an organization with the goal of helping people reach fulfilling lives. Furthermore, he created the Immigrant Masters Unite mastermind, which focuses on helping and connecting immigrant entrepreneurs.

In the past, Peter faced some challenges that made him unhappy, despite his successful career in investing and coaching. He faced difficulty connecting with his family, and his tendency of people-pleasing impacted both his personal and professional life. Peter has been on a journey to overcome these struggles and has found success in both his life and his business with the help of the Profit First and Lifeonaire systems. 

In this episode, he will be sharing more of his story and wisdom with us—a great opportunity to learn from Peter's experiences and gain insights on how to gain true fulfillment!

Key Takeaways:

[00:41] Introducing “Polish Peter” Kolat
[03:47] Peter on the Profit First Method and
[06:56] On Struggling as a Business Owner and Leader
[11:26] On How Work Life Affected His Family Life
[14:58] On Personal Development
[17:53] The Importance of Having a Coach 
[19:42] Why Investors Live Deal-to-Deal: Not Having Support and Clear Goals
[26:39] Questions to Ask Yourself and Conquering Your Subconscious
[29:29] What Would Peter Do Differently If He Started From Scratch?
[31:47] Connect with Peter

Quotes:

[04:43] “When you start looking [at] the profit first and you focus on that number, amazing things happen in your life.”
[21:08] “When you write down what your life is going to look like, and you get very clear what you want to end up in…that's like at this GPS, this Guiding Light. Then the next question becomes, ‘okay, what does my business need to look like to support that life?.’”
[30:34] “One of the worst things you can do when you're a business owner, or when you're in a dark, dark, dark place, is [going] at it alone. You gotta reach out, you gotta surround yourself with other people.”

Connect with Peter and Get a Free Copy of Lifeonaire: An Uncommon Approach to Wealth Success and Prosperity:

Website: www.lifeonaire.com
Facebook: https://www.facebook.com/CoachPolishPeter/
Masterclass Website with Immigrant Entrepreneurs: https://mastersunite.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 

In this episode of the Profit First podcast, we have Al Nicoletti, the Florida probate King, as our guest. Al is a probate attorney known for his problem-solving skills and ability to bring in more revenue through unique marketing strategies. 

In this episode, he shares two of his biggest tips for marketing in the probate industry and his methodology for solving problems. He also talks about the importance of finding good people in his industry and gives listeners the right questions to ask when looking for talent. 

Al provides valuable insights that can help listeners make more money and grow their businesses, so be sure to tune in!

Key Takeaways:

[00:52] Introducing Al Nicoletti and His Background
[05:17] Al Nicoletti’s Money Struggles
[08:01] Al’s Work as a Probate Lawyer
[11:26] Al on Brand Building and Communication
[17:33] What Should You Look for in a Probate Attorney?
[20:59] What is Probate? 
[23:19] Profitable Probate Deals
[26:44] Al’s Advice for Real Estate Investors
[29:15] Connect With Al
[29:38] Closing

Quotes:

[12:28] “Relationships [are] what really [build] the bridges to where everybody's going.”
[12:52] “I think speaking is one of the most—it's the most unique, best form of networking marketing. It's a superpower that you can have because it will drive business, [and] it'll drive leads."
[27:51] “ Time is money and the amount of time that you spend with some of the sellers and they don't get anything. It's crazy…We want to do deals all day, we want to close all day. So that is a huge value add for you out there, you got to start building out a checklist and asking and keeping that right next to you.”

Connect with Al:

Website: www.alnicoletti.com
Instagram: www.instagram.com/attorneynicoletti
Facebook: https://www.facebook.com/alnicolettiesq
Youtube: https://www.youtube.com/c/alnicoletti
Phone No.: 904-999-0053

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 

Joining us today is Rod Khleif. He is a successful entrepreneur, real estate investor, and business owner known for his expertise in the industry which he shares through his podcast, The Lifetime Cash Flow Through Real Estate Investing.

Rod is considered one of the top real estate trainers in the country, and I’m excited for you to hear the insight he has to give. But more than sharing his knowledge, Rod comes on the show to inspire us with his own story, his struggles—financial or otherwise—and how he recovered from them.  

Tune in as he talks about how he made his first $100,000 in real estate, how he recovered from losing a lot of money in 2008, and his amazing mindset on money.

Key Takeaways:

[00:45] Introducing Rod Khleif and His Background
[05:45] Limiting Beliefs That Might Have Contributed to Holding Him Back
[11:32] On How He Recovered After Losing $50 Million
[18:39] How Rod Prepares for Downturns 
[22:50] Rod’s Denver Bootcamp
[26:15] Advice for Real Estate Investors: It Starts With Competence 
[28:30] Connect With Rod and Final Thoughts
[29:38] Closing

Quotes:

[12:57] “You've got to take that first step. Okay? And that first step can be the scariest step of your life. And it could be the most important step, especially for those [of who] you that are analytical. And you'll sit there analysis paralysis stuff, and you can't do that.”
[22:44] “So, how do you get ready [for downturns]? You keep your mindset right you focus on what you want, not what you don't want, you get into cash, you build relationships.”
[26:26] “Competence equals confidence equals passion and success… It starts with competence”

Connect with Rod:

Website: https://rodkhleif.com/
Podcast: The Lifetime Cash Flow Through Real Estate Investing
Text “Rod” to 72345 and remember the code “rodfriend” to get a lower price.

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 

The Profit First method is based on establishing good financial habits. However, to adopt this approach, breaking free from negative behaviors that hinder growth is necessary. 

Our guest today is an expert at helping others break through and develop a better mindset, not just in money but also in leadership, teamwork, and personal growth. He is a knowledgeable real estate investor, coach, mentor, speaker, and real estate investor.

Pat Precourt is a highly skilled entrepreneur who excels in personal development coaching, marketing, business development, and more. Tune in as he provides a rich source of insight into overcoming bad habits and achieving financial growth!

Key Takeaways:

[00:45] Introducing Pat Precourt and His Background in Developmental Coaching
[03:52] The Common Financial Struggles of Entrepreneurs and How Pat Helps Them Recover
[11:32] The Predictability of Human Behavior and How It Can Be Used for Developing Change
[13:12] Pat’s Personal Money Struggles
[14:50] Why Many People Live Deal-to-Deal and How to Break Away From It
[19:31] How Pat Helps Leaders Who are Stuck Grow
[25:55] The Benefit of Having a Coach When It Comes to Creating Positive Change
[28:05] Pat’s Habit to Succes: Show Up and Build Momentum
[30:35] The Hardest Lesson Pat Has Learned
[33:04] Connect with Pat

Quotes:

[15:33] “We don't lack work ethic…We're tough. We can endure a little pain and endurance…but as a result of that, we put ourselves in a position to endure a little pain. And we put ourselves in a position where we have to work long hours, only because we're capable of it, and therefore we let it [happen].”
[26:27] “Your mind that got you this far, which is filled with all of your life experiences, all your wisdom, knowledge, expertise… [it] got you this far, [but it] can't get any further on its own. It only knows what it knows. And that's why you're exactly where you are right now until an outside force leans into you. And that's what a coach does for you.”
[29:06] “ I made a habit of showing up. I think showing up when you're down and out and feel like shit, or you're crabby and grouchy…Just showing up is more important than then staying home and finding excuses why you should why you didn't show up.}

Connect with Pat:

Website: https://patrickprecourt.com/
Social Media: “Patrick Precourt” on different platforms

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