Profit First Radically Changed His Business: An Interview with Pace Morby

Episode 9

Profit First simplifies everything and takes the guesswork out. It allows you to make the money you should be making!

PACE MORBY

Today we have a very SPECIAL guest!

He is the “creative finance” King – Pace Morby!

If you don’t know Pace, you are missing out!

He runs several businesses and education companies and implements Profit First in all of them.

He also brought his bookkeeper on the call who helped implement Profit First.

In this episode, they share their knowledge and experience implementing the Profit First system!

Sit back and enjoy!

Connect With Our Guest

Pace Morby: Website | Facebook | Instagram | YouTube | Twitter

 

Notable Links

Toni Counts Email
Profit First by Mike Michalowicz

Transcription

David: Hey, everyone! Welcome back to the Profit First REI podcast got a couple of extra special guests today. We’ve got Pace Morby. If you haven’t heard of him, you need to hear of him, and he’s- he’s got a lot of great stuff he’s doing in real estate. He’s got a lot of stuff that he can help you with, and I’ll let him tell a little bit about what he does. But we also have Toni here; we have Toni Counts, and she’s his bookkeeper.

Pace: She is the star of the show, bro.

David: She is the star of the show here. So that is what makes Pace stick with a Profit First. So we’ll make sure that we have her talk quite a bit on this episode too. But I just want to kind of introduce them – Pace and Tony. You want to- Pace you want to start off telling a little bit about you? And then Toni, you want to give a little bit of your background too?

Pace: Yes, sir, so let me jump into it. I can tell you I wasted a good ten years of my life not following what we’re going to talk about in this podcast today. No joke. Ten years. It’s a constant struggle as a business entrepreneur that you’re trying to hustle and hustling, hustling you don’t know what to do with your money. All you’re thinking about all day long is I need to make more, I need to make more, I need to make more, but ultimately you’re not following a system. So that’s primarily what we were going to jump in today, hopefully, and I couldn’t do anything that I’m doing. I’m not joking you. I couldn’t do anything I’m doing without three people in my life, and Tony is one of those three people, and we’ll jump into how important she is and what her role is in my life and also my business partner Cody. I think you are going to have Cody on the podcast in the next couple of days, right?

David: Yeah, I am. He’s going to be on very soon.

Pace: Awesome. So let me tell you about what we do. These are the current projects that we have going on: I have a 65 home brand new community that we’re building, so I do a lot of land development. So I’ll buy land, and I’ll do the entitlements, and I will actually do the bills. I was a contractor for ten years, so I have that background. I decided to stop working for other people and just work for myself. So we do a lot of developments. We’re doing probably three to five fix and flips every single month. We find those fix and flips through our wholesale business, which is another business that we run. That wholesale business we primarily do marketing for Phoenix, Orlando, Tampa, and we’re opening up in Atlanta and Texas. We probably do about 10 to 12 transactions a month. Our gross revenue for that business is probably between a hundred grand and maybe a hundred eighty grand depending on the month.

David: Okay.

Pace: Our Fix and Flip business is probably by the end of the year should be putting out about I don’t know we’ve got a couple of deals closing like we got a deal closing tomorrow Coral Bell where will make $70,000 and another one we’re making- we’ve got closing the week after that will make another $50,000.

David: Awesome.

Pace: So we generate a pretty good amount of revenue on those. But what most people know me from is I am known about as the creative finance guy. So what happens is all these wholesalers and Real Estate Investors are going around the country, and they’re trying to find deals- trying to find deals, and they’re spending tons of money on marketing, and what happens is let’s say they get 50 leads and they convert one of those leads to either a wholesale or Fix and Flip opportunity for themselves or if they are implementing Burr model whatever. They’ll get one of those leads converted to a deal. I’m known all around the country as the guy who will take those same 50 leads and turn it into four transactions rather than one, and the way that we do that as we use creative finance more specifically subject Two, which is a form of buying properties but keeping the debt that is existing keeping that debt in place and we just take over the payments. Very simple, people make it way more complicated than it really is.

David: Right.

Pace: and that’s how we are building our portfolio, and Toni is helping us do that as well. So we’re probably right now buying for our own portfolio. We probably buy a rental a week, and we are trying to double that to go to two rentals per week in the upcoming months. So Toni has been super instrumental; she’ll get into like what she is in her background, which I think you guys would care about way more than me. But we just- I had a partnership just recently with four guys. We did make a decision; we’re going to go buy 25 houses together and then see how it went. Well, ultimately, we have completely conflicting ideas on where we want to market. They want to go to Idaho. We want to go in other parts, so we disbanded, and for about 2-3 months, we slowed down our purchasing, and now that Cody, my partner that you will have on the podcast in the next couple days. Him and I are now back to buying and acquiring our and building our rental portfolio.

David: That’s awesome.

Pace: Can you believe that is only half of the businesses that I’m running right now?

David: Yes.

Pace: and can you also believe and can you also believe I literally don’t manage- I don’t go into my Quickbooks. I rarely go into my bank account. I do know what’s going on because my bookkeeper Toni is so instrumental in my life she also is going to talk about Profit First. I just got to go do my job, and so that is, I feel like one of the main reasons why I’m good at what I do is because I finally figured out what my gifts were, and I stopped trying to do what other people’s gifts are. Which is being organizers and implementers and people who are instrumental in making sure things stay organized when you have- people call me a Tasmanian Devil. It’s like dude, you’re just running around causing problems, and I’m like no, I’m creating opportunities; you guys just don’t get it. So anyway, that’s- that’s what we’re up to, and I’ll let Tony introduce herself. I met Toni about a year ago through a gentleman named Tom Croll. He’s one of the most amazing human beings you’ll ever meet in your life, and when I met Toni, I automatically immediately knew she was a special person. So Toni, tell us a little bit about yourself.

Toni: Hello, my name is Toni Counts. I’m based out of South Florida. I run my own bookkeeping business, Innovation counts, and I’ve been in the accounting field since 2002. I have a bachelor’s degree in business management with a focus on accounting, and I just love numbers. I love spreadsheets. I love numbers; I love just peacing it all together.

Pace: So tell me did you make up your last name? Did you change your last name to “Counts”? to fit your business model? What’s up with that?

Toni: No. I did not, but I hear this all the time, and I’ve actually gotten job interviews based on them seeing my resume come through with the last name Counts. They’re like: oh, we are looking for an accountant. This is our person, right here.

David: Wow.

Toni: And I got the job.

Pace: That’s like the most subliminal message of all time.

Toni: Right, exactly.

David: Oh, that’s great.

Pace: So when I- Tony when I met you what was funny is obviously I’m going to try and segway back into David and also us ultimately what we want to talk about. But when I met you, my partner Cody was like, well, I don’t think Toni’s going to like working with me because I like doing profit first. I go, bro, you’ll never believe it. Toni wants to implement everything profit first talks about in our business, and he’s like, oh my gosh! Where’d you find this person? She’s like a unicorn, and so anyway, when we first met that was one of the first conversations like just so you know I follow profit first and this is the way that we do the accounting so I- just to be honest, when you reach- reached out to me said will you be on the podcast? I was like, bro; honestly, the person you should talk to is Toni. Because she’s the one that actually makes it all happen for me, and she is like a disciple of profit first, I think at this point even though she originally started out hating it.

Toni: Yeah.

David: Awesome. Yes, so tell us about that. Tell us about your first interaction with profit first, Toni. And how you thought about it and kind of how that changed?

Toni: so I was working as an accounting manager at my former company, and the bosses came in with this book, and they’re like we want to implement this with our company, and so I started reading through it, and I was like there’s no way this is going to work because how are we going to reduce our expense account when we’re already massing it out? And I was just totally against it at first, but then after I read the entire book and started implementing it, I feel like there’s no other way to operate a business. If you don’t realize by reducing your expense account, you’re also reducing your spending because that’s the only account that you’re going to look at to see what you can invest in now or what you have enough money for.

David: Right. So how long have you been using that then? How long ago was that when you first got introduced to it?

Toni: That was- I want to say it was like 2015.

David: Okay, awesome.

Toni: -2016 around there. Mhm.

David: So then tell me if then- back then and up till now how does it- like the first implementation of that go? what- was it pretty difficult or do you remember like when you first started setting it up?

Toni: It was difficult at first because that particular company I was working for, you know, we were kind of like just going from deposit to deposit.

David: Okay.

Toni: So in my mind, I’m thinking like how are we going to reduce our expense account when we were barely just you know making payroll, making payroll? So once we got that implemented, everything started to flow smoothly, and then as I started my own bookkeeping business, I immediately turn all my clients on to the profit first method and everything just- there’s always a satisfied client everything is so organized as far as like you know what you have enough money for here, here’s your tax account when it’s time to pay your taxes here is your owner pay which is coming twice a month, and it’s always consistent amount because of the way we’re allocating percentages.

Pace: I have a question about that. Do you run into a lot of people that hate it because they’re like, well, no, I need to use some of the tax money to do this or that or whatever? I imagine there’s a lot of small business owners, and even me included. I think Cody has like- when we were like because we’ll go through like moments we have hundreds of thousands of dollars, and then we’ll have moments where it’s like we have $4.65 in our bank account, right?

David: Right.

Pace: so you run it because you know just because of a cash flow and big projects we are working on or whatever. So do you run into- this is a general curiosity I’m not trying to guide the conversation. I’m really curious. is that the number one problem you get with small business owners as if they don’t want to put the money into the account and let it sit there? What’s your biggest pushback you get?

Toni: The biggest pushback is just trying to figure out the percentages upfront. So a lot of them are- they either want to put too much into the tax account, or they want to put too little into the tax account. They’re afraid of reducing the overall allocation to the expense account. They’re just not- when I’m explaining it, they’re not seeing it as I’m explaining it. As it’s implemented, they see it on the financial statements.

David: Okay. That’s what we say too, for sure, because when we implement these the two ones as actual allocation percentages but then setting up the bank accounts too, some people are like, do I really need all the different ones? Are you sure? Are you sure about those? You know, like I- because I see two different like ends of the spectrum. You either got the one who just has the one bank account for all of his businesses, or you’ve got someone who’s got like ten entities and ten bank accounts, you know, like for his properties already. so I definitely see the different ends of the spectrum there but it- I would say in a way you know like for the people who have the one bank account or whatnot. That just totally transformed their life, and we even talked in a little bit before we recorded. You want to tell about that about the like the difference between just having the one bank account versus being able to see it all and just kind of held at it open your eyes too? When you- when you realized the power that especially in the real estate world?

Toni: yes, because with One bank account, you’re seeing just one bottom line number you’re not- you’re thinking like okay I open my bank account there’s a hundred thousand oh great, I have a hundred thousand to spend. But you really don’t know like you’re not factoring in the future expenses and that’s what Profit First does. You take from the top, and you factor in those expenses before they even occur. So you’re prepared for them when they do occur.

David: So then when you were implementing this maybe with Pace or other people, especially Pace since he’s on here we shouldn’t talk about him like he’s not here but did you do anything different than what the book says, or did you open up accounts like the Advanced accounts or anything like that for these businesses and for real estate businesses did you like try and deviate at all or was there anything beneficial then you know following just the basic Foundational accounts?

Toni: I do like to tweak my additional accounts based on the type of business, so like for the rental property business I like to have a special account for repairs and maintenance. That you just allocate 1% of everything and you know you’re not always spending on repairs and maintenance, but if you’re allocating 1% off of each revenue item that account is going to build and then you have to replace an AC unit there you go, it’s ready for you.

David: Mhm, awesome. How about any others? Are there any others? Like fix and flippers, you know we’ve got a wide variety of people that will be listening to this for sure.

Toni: I definitely like to follow the Profit First model as far as like owner pay, profit, tax expense but like I said, just depending on the type of business, I’ll tweak it a little bit just based on what their goals are.

David: Okay.

David: Yeah, we see that too. Because some people want to pay down debt, and some people don’t have debt. You know like that’s not one of their main focus is, and it’s like now they want to save, or they want to give you know they want to give back so. Yeah, I would definitely be seeing that too. So that’s awesome. I love that she- obviously, you need to make it work for each individual business too.

Toni: Yes.

David: and I’m sure for Pace’s, you know there’s probably some things that he has that some others don’t, or there’s some sort of setup for the allocations or percentages. It’s like you need to make sure at the end of the day that it’s working for them, and that’s why I love the system. It’s very flexible. It’s like-

Toni: It’s very flexible, and another one of my clients I’ve set up an illegal account for them because they had a lot of legal transactions, so I allocate 1% to the legal account, and then when that bill comes from the law firm it’s all right there ready to be paid.

David: Awesome.

Pace: Oh, that’s cool.

Toni: Yeah, it is very cool.

Pace: That’s very smart.

David: Yeah. There’s a lot of great stuff. I love that. That’s a great idea.

Toni: I love the book. I reference it all the time. I actually have it right here.

David: Awesome.

Pace: I love that. I think- I think the reason you were nervous to come on the podcast is because you love that book so much.

Toni: Yeah.

Pace: You’re like, oh my gosh, Profit First? That’s like my Bible! That’s like my accounting Bible.

Toni: I’m a stare at spreadsheets all day type of person, not like a social you know-

David: Sure.

Toni: Forecast butterfly.

David: You’re doing great, though. You’re doing great because, honestly, at the end of the day, on this podcast too. We want to provide value to people, and that’s what you’re doing- you’re just you’re telling them what you- what you love and how it’s affecting other people’s lives. I mean, you’ve changed lives. I mean, Pace tell- tell about before profit first, and then once you implemented it, how did your perspective change?

Pace: Well, I think number one in the things that I think about on a daily basis just isn’t there. So like I’m the opposite of Toni like I can sit in front of the computer and I can- I usually the way I think about computer work as I’m like I need to get this out of my way right? and so I wake up really early a lot of people that know me I’m at 3 to 6 in the morning I clear out emails I answer text messages I missed the day before and I do a little bit of research and maybe read the things I need to read on you know maybe somebody asks me a question the day before I don’t have the answer to it I do that in the morning and then the rest of the day my job is to talk to people it’s to close deals it’s to raise the capital it’s to do all of those things. I can’t do that when I’m worried about my accounting. I can’t do that when I’m worried about what’s in my bank account where it’s supposed to be spent. What’s really cool about Toni, too, is that she’ll say, hey, you got to worry about such and such should I just reach out to your CPA? I am like, yes; I don’t- I don’t want to talk to my CPA. You- you to take care of all my accounts and you just go let me make money, and I can tell you that Tony will allow me to add probably 20 to 30% to my top-line revenue because I don’t have to worry about those things and I know she’s doing it the right way. So the biggest thing is just my- my ability to be who I am, and I can tell you most of the entrepreneurs I know have this red personality which is like go go go go go go go, and they’re so disorganized they’re like the contractor that has only stacks of receipts in their front seat like if you ever wanted to jump into a contractor seat and drive somewhere, he’d have to spend 3 minutes moving all his receipts and crap out of it out of the way so you can sit in his car. Profit first makes it so simple it tells you exactly where the money goes and then also having you know somebody like a simple CFO or somebody like Toni helping you actually do it so you can go out and make the money. Now my job is to go out and just go make money and talk to people all day long, and I don’t ever have to worry about the money aspect.

David: Awesome. I- I love that. so how about the actual profit first too because you said like oh we’re going to run it you know like on profit first, so obviously before that you were was it like-

Pace: We’re stealing from ourselves dude. We were stealing from ourselves, and I think number one- I think the one thing that stresses Cody out Toni- just because you and I don’t argue, and I hardly ever talk about this stuff. We only allocate like a certain percentage of our income to our debts, so like when we first started our business, we were funding our fix and flips with credit card debt right like 0% interest credit cards that was funding a lot of our renovation. So we bring in enough money that we could just choose hey, let’s just pay off the debt right, and so those are the things that stress Cody out because he’s watching the debt being paid down slowly. He is like, I want to pay down faster, and I wanted this, and I want the money moved over here, but the benefit of profit first is the way that it breaks up the money it allows every part of your business to actually run and Implement. You don’t worry about paying yourself. You don’t worry about any of that stuff; you just do what is- is told of you, and there is no guesswork. Because- I’m in a mastermind I’m not joking you I’m in a mastermind that costs 25 grand a year and these you know their number one problem is in that Mastermind? all these high-level guys and gals 50 people are very very high-level. Their number one problem is that they don’t have a SimpleCFO or a Tony Counts running their back in and allowing them to do what they’re doing. They spend 20% of their time guessing where their money is supposed to go, and they’re operating at a one stupid bank account stealing from themselves, and it just turns into this chaotic nightmare. In fact, one of my LLC’s I’m going to tell- I’m going to be like full transparency and embarrassing. Tony is going to have to go to one of my LLC’s that I ran incorrectly for like five-six years, and she’s going to have to go and clean all of that up because I ran everything to one bank account I was, you know, commingling things and doing everything the wrong way. Because I’m not an accountant, I’m not- that’s not what I do right, so I feel so bad for Tony when I told her when we first hired her I was like just so you know, I have to apologize upfront. I should have hired you a long time ago. I should have implemented profit first a long time ago. It’s actually in some weird way a lot of people have one bank account they’re like, well it’s more simple this way, and I don’t have to think about all of the stuff it is not. It is actually holding you back from making more money, and I think that’s the number one thing-

David: Powerful.

Pace: A profit first simplifies everything, takes the guesswork out, and allows you to go make the money that you think you should be making, but you’re not.

David: and how many books have you read where it says to pay yourself first or do this do that and it didn’t give that system behind it, and I think that’s right away where profit first was like okay we’re going to actually take that and say here’s how you do that because now you implemented. It’s powerful. It’s life-changing. It’s just like Toni, like Pace, is obviously a disciple of it too and loves Profit First. I’m sure your other clients, too, will say this has been life-changing for their business for everyone that we have implemented with. It’s been life-changing for them. And that’s why we need to get the word out; that’s why we started this podcast. I love that having the people that are on here like this even before we start recording you telling about what you’re going to be doing and bringing this to other people too. I want you to tell. Like I don’t care if it competes or whatever it does is it doesn’t compete we’re out there- there’s- there’s like seven billion people on the planet, and then I feel like- like 8 billion people are entrepreneurs right now so like we need to get this out there to every single person because it’s so life-changing at this could change- stop another real estate investor from going under just because they think all the one account is the answer. No. so I can have someone who actually knows what they’re doing. It can actually get inside of your books inside of your system and say this is what you really need to be doing; this is where you need to be allocating it. You don’t have to stress about your tax next year; you’re paying yourself, you’re able to have profit. I love the whole that- I want to get this out so make sure at the end you do tell about what you do-

Pace: You know what’s interesting? Is I think a lot of people- so business owners it all, whenever they hear of a new idea or concept that they know, is going to change your life. The first question they ask themselves is, what does that cost?

David: Hmm.

Pace: Right? What does it actually cost, right cuz? Everybody was trying to break that down. So let me- let me give you a reviewer’s some insight into that some full transparency.

David: Sure.

Pace: so the cost the- the price of the book or the audiobook or maybe if you have an audible you know account like I do.

David: Right.

Pace: It costs what? Seven bucks eight bucks whatever, so that’s first and foremost. It then takes a couple of hours of your life to understand the concepts you know, taking notes whatever that’s some non-monetary cost essentially. When it comes down to the cost of actually implementing this, I would say having somebody else run this for you, like a simple CFO or a Toni. With Toni, the way that we’re doing is that Toni is in charge of a bunch of virtual assistants, or she will be as we’re rolling this. I think they cost. I mean, you’re talking about the price of how much it costs me to go to sushi one time in a month is what it costs to ultimately have somebody running this. If I take a client to dinner right and I and there’s four of us, we go to sushi; that one meal is the cost of having somebody Implement and handle all of this stuff for me at the end of the day. It’s very, very inexpensive, very, very inexpensive, and the- the payout is 10x, and it’s not one of those things where they wow I had no idea was really this hard or this expensive. It is stupid and inexpensive, and it is absolutely, in fact, one of the first things I would do is this in my life. If I’m going to start a new business, I’d create an LLC actually, scratch that, if I could go back in a time machine to this first day I was going to start an LLC, I’d say: “don’t start your own LLC. Find somebody else is going to do all that paperwork for you because you’re going to screw it up in the first place.” So I would find a simple- simple CFO. I don’t know if you guys do that service, but Toni does that for me. She’ll start at the LLC’s or show you know she did a name change for me the other day. I had a shell LLC that was sitting there not doing anything. I go let’s change the name, and let’s use it for this and show she’d literally taken care of all of that for me. I would just have somebody else from the very beginning to handle my Quickbooks, handle my accounts, tell me exactly how everything is going so I could go out and do my job, which is just talk, talk, talk…

David: Yup.

Pace: I’m not joking you. I pray- this sounds crazy to say out loud, but I probably have an extra 5 million dollars in generated revenue over that timeframe if I had done it the right way in the first place.

David: Wow. That’s powerful. That is- that’s powerful and sad all at the same point- at the same time.

Pace: It is sad. Because how many people do you know are doing the same crap I was doing.

David: Right? Everyone- everyone starts yes.

Pace: That’s the right answer.

David: Everyone yeah, it is- it’s 99% of Real Estate Investors is- it starts out that way, so that’s why we have to get this information out there. It needs to be- it needs to be the opposite. It’s where it’s weird if you’re not setting it up this way when you first start out, or it’s weird if you’re not doing it right now because it will- it will save your business. It’s fun to talk about marketing, of course, the operations of all those other systems, but it’s a lot more fun to have money in your bank account to be able to go out and do the things that you actually want to do.

Pace: A hundred percent.

David: I love that so then Toni just like your experience with what you’ve been doing in the Profit First base with the- with a lot of your clients too. I just want to say thank you honestly like from our podcast to you and like from our company likes just Real Estate Investors we appreciate what you guys are doing and what you guys are doing that because I- I’ve seen it firsthand what is done to change businesses lives and-

Toni: Right.

David: that just that there’s other people especially in the real estate space, that’s why we started it too. that we knew there weren’t many people out here you know and I have a real estate investing background you know doing lots, lots of deals, so I was like this was one of the biggest things that changed my life too, and we have to get this out. So from our listeners too, we want to thank you for actually implementing that with businesses and paste thanks for being on.l I would love now for a kind of wrapping up here unless you have anything else? I’m going to ask you two final questions. Is there any other advice anything else you want to say? And then I have one final question. So Pace or-

Pace: The last piece of advice is to stop thinking you know the answers and just follow a successful people are doing most of the people I associate with once they get to a certain point they start making money ‘they go, man, everybody says the same thing if they had implemented this five years earlier they would have made twice the amount of money twice as fast, and the cost associated with it is so inexpensive to actually have somebody running it like a simple CFO or a Toni Counts. So my suggestion to ever- anybody in this is like a call to action. I know ultimately you can ask me this is again at the end, but a call to action would be reached out to a simple CFO. What do people do like when they- are you, onboarding people? Are you coaching people? How are you doing that?

David: What we actually do in SimpleCFO we- yeah, we onboard them, we go in and manage their bookkeepers. We make sure that they’ve got the actual numbers they need, and then we Implement profit first like we set up- we help them set up the accounts we help them to know what they should be allocating, having the allocation meetings, you know, like and like getting that all. We basically hold their hand that- it’s basically done with your service.

Pace: That is so amazing. this is the stuff that should have been taught to us in freaking high school and college.

David: Yes! Yes!

Toni: I agree.

David: Like running this in your personal finances, your business finances like this just- it needs to get out everywhere.

Pace: Yeah, so that’s all I would say is I’d say stop thinking about it, and I honestly I wouldn’t even read the book right out of the gate. I would hire somebody like a simple CFO or hire somebody like Toni to get moving forward and then read the book as they’re telling you here’s what we’re going to do, here’s what we’re going to do. Stop overthinking stuff and just do it the right way from the very beginning.

David: Awesome. I appreciate that, and I’m sure Toni does too. So Toni?

Toni: Yes?

David: What about you? Is there any last-minute advice here that you want to give on Profit First or just anything in general here?

Toni: I just want to stay for entrepreneurs. You cannot run your books by yourself like you have to have somebody do it for you. The best thing would be to have them follow the Profit First model because that’s going to benefit you the most. But if you don’t have them follow the Profit First model, at least have somebody looking at your books and not you because it’s so easy to just have it turn into a big snowball of I’m a mess.

David: Right.

Toni: Yes, and I’m really excited about the Profit First book for Real Estate Investors.

David: Oh, yeah, I am super excited to work with Mike on that and want to get that out there that information so, but that’s why we are doing this podcast too because probably it’s going to be a little while before it comes out. So I was having you guys on. So my last question is I will start with Toni. If our listeners want to bring value to you like, how would they reach out to you? What’s in you know like what’s the best way? Do you have a website to go to, or how would they connect with you, Toni?

Toni: They can connect with me by email at Toni T-O-N-I [email protected]

David: Awesome.

Toni: and that’s in innovationcounts.com.

David: Awesome.

Pace: That’s such a freaking great company name.

David: Yeah.

Toni: Thank you.

David: That is so great. So and I’m going to be emailing you after this too because I want to connect.

Toni: Awesome.Okay.

David: Because I’m sure I could be pinning leads to you too.

Toni: Right.

David: And make it sure because like if we get too overloaded or whatnot. I would have loved to- now that I know that you’re in this space and like doing it right and helping people like this. I love that so.

Toni: I’m so glad that Cody loves this book too because it’s like somebody that I can brainstorm with that has actually read the book too. It’s like we have our own little mini book club.

David: Nice.

Pace: That’s awesome.

David: That’s great. So Pace, I will ask you, is there any way our listeners can provide value to you?

Pace: The only way you can provide value to me is to follow me on Instagram because I’m always saying funny things on there, and I post a ton of stories. So follow me on Instagram, and we’ll have a good time laughing at all the jokes, and then I would- what I would do is you know how did you do- how did you even- did you know how often that- me and my company actually talked about Profit First? Did you know that, or did you just connect with me through a duster fuel?

David: It was from Lucas, and he said that you talk about Profit First all the time you know-

Pace: Oh, yeah, it’s like literally the top three books that we talk about.

David: Yeah.

Pace: So guys, if you want to bring value to me, do me a favor and have the- the time machine conversation with yourself and say if I could take a time machine back and do this the right way, where would I be in my life? Read the freaking book. Read the first book Profit First and then obviously start- start talking about you guys- do SimpleCFO have an Instagram account, by the way?

David: Instagram? We just started Profit First REI.

Pace: Freaking love it! Is that the name of the book?

David: Yeah, that’s going to- Profit First for Real Estate Investors.

Pace: Okay, guys, follow me on Instagram at Pace Morby and then follow Profit First REI. I’m following you guys right now.

David: Yeah, we have just started it.

Pace: That’s the only way we can provide value to me guys.

David: Well, I appreciate that a lot, Pace, and I know that there’s been a lot of value given here too, like on this podcast to the listeners. This was a huge treat. Toni, you are awesome, and you did not have to worry at all. Pace, thank you so much for being on today. We really appreciate both of you being on, and I’m sure our listeners do too. So once again, thanks from Profit First REI.

Pace: Thank you guys really appreciate it.

Toni: Thank you!

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