David Richter

It's literally just a holding bucket for all the rehab money for all your rehabs going on to see, do I have enough to finish all of them or do I need to tap into and like go dive into my system to see how much do I have left for each project? But it's more of just a holding bucket there to make sure, you know, this is what I have in OPM to finish my projects.

It's literally just a holding bucket for all the rehab money for all your rehabs going on to see, do I have enough to finish all of them or do I need to tap into and like go dive into my system to see how much do I have left for each project? But it's more of just a holding bucket there to make sure, you know, this is what I have in OPM to finish my projects.

The rest of the system is to make sure the business is healthy. And if you're like, good God, David, that was like five or six bank accounts that you just said. Like, what do I do? Like, I can't do all this. You know, I'm barely struggling to stay afloat. I would do one. I would pick either profit or owner's comp. Pick one of those to start with.

The rest of the system is to make sure the business is healthy. And if you're like, good God, David, that was like five or six bank accounts that you just said. Like, what do I do? Like, I can't do all this. You know, I'm barely struggling to stay afloat. I would do one. I would pick either profit or owner's comp. Pick one of those to start with.

Start to keep more of the money because that's honestly, if there was a magic secret sauce, that's it. And it's not even though it's magic secret sauce, it's doing that for a long time over a long period of time. And it's like it's not sexy or exciting once you have it there for four years. But you know what's sexy and exciting?

Start to keep more of the money because that's honestly, if there was a magic secret sauce, that's it. And it's not even though it's magic secret sauce, it's doing that for a long time over a long period of time. And it's like it's not sexy or exciting once you have it there for four years. But you know what's sexy and exciting?

Taking money out and doing something sexy and exciting, you know, like going out on that cruise or going to wherever you wanted to travel to or whatever you wanted to do. That's where I would start with that. And if you're if you are like, good God, my hair is on fire. I can't even do this. I would start with one percent.

Taking money out and doing something sexy and exciting, you know, like going out on that cruise or going to wherever you wanted to travel to or whatever you wanted to do. That's where I would start with that. And if you're if you are like, good God, my hair is on fire. I can't even do this. I would start with one percent.

Start with 1% to one of those accounts, like one of those keep accounts, profit, owner's cap, and put the rest of it into OpEx and run the business. But every quarter, can we do a little bit better instead of 1%? How about 2? Can you go to 2? From 2 to 3, 3 to 5, 5 to 10.

Start with 1% to one of those accounts, like one of those keep accounts, profit, owner's cap, and put the rest of it into OpEx and run the business. But every quarter, can we do a little bit better instead of 1%? How about 2? Can you go to 2? From 2 to 3, 3 to 5, 5 to 10.

We just want to build the... If you were going to the gym, you're not going to go from lifting no weights to double your weight and bench press. You're not going to do something crazy. You're going to start with where you are, and that's where... a good system like this is almost like a personal trainer, like coming in and saying, this is what you need to do in the system.

We just want to build the... If you were going to the gym, you're not going to go from lifting no weights to double your weight and bench press. You're not going to do something crazy. You're going to start with where you are, and that's where... a good system like this is almost like a personal trainer, like coming in and saying, this is what you need to do in the system.

And like, that's where just starting it, starting it is the habit. So there you go, Justin, there's like the overview of profit first. I know we take a long time, but then also the nitty gritty of like, here's the actual bank accounts to get set up.

And like, that's where just starting it, starting it is the habit. So there you go, Justin, there's like the overview of profit first. I know we take a long time, but then also the nitty gritty of like, here's the actual bank accounts to get set up.

Yep, exactly. So, yeah, even though I'm not personally a CPA or tax expert, so I just there's that disclaimer. And this is not financial advice. And this is not financial advice for you. So but this is where a lot of people have that mentality of like, OK, I'm just going to put everything on the business card or I'm just going to run everything through the business.

Yep, exactly. So, yeah, even though I'm not personally a CPA or tax expert, so I just there's that disclaimer. And this is not financial advice. And this is not financial advice for you. So but this is where a lot of people have that mentality of like, OK, I'm just going to put everything on the business card or I'm just going to run everything through the business.

And while there's a certain degree of like, yes, you should run as much as you can. It's also at the same time, like you want the LLC to protect you like an LLC is supposed to protect you or like a corporation is supposed to protect you, where if you are just like commingling everything, that's like a separate issue, even maybe from what we're talking about.

And while there's a certain degree of like, yes, you should run as much as you can. It's also at the same time, like you want the LLC to protect you like an LLC is supposed to protect you or like a corporation is supposed to protect you, where if you are just like commingling everything, that's like a separate issue, even maybe from what we're talking about.

It's like, don't commingle everything because then you pierce the corporate veil of yourself. Like that very famous, infamous statement, you know, in American, you know, our society here, it's like, I don't want you doing that. Another thing is,

It's like, don't commingle everything because then you pierce the corporate veil of yourself. Like that very famous, infamous statement, you know, in American, you know, our society here, it's like, I don't want you doing that. Another thing is,