Today on the Profit First for REI podcast, we’ve got twice the guests for twice the value! Adam and Amanda New are the principal owners of The Cash Offer Company, buying houses from motivated sellers in Richmond, Virginia, and helping them with a hassle-free process.
Adam and Amanda had worked together in some form for a very long time before they decided to focus on their wholesaling business. They got off to a rocky start, almost going out of business several times until they rebuilt their business by taking a Proft First approach.
Catch the insights this power couple shares their story and the benefits of applying the Profit First method from day one of your business! Tune in to this episode!
Key Takeaways:
[00:54] Introducing Adam and Amanda New
[02:04] Adam and Amanda’s Start in Real Estate
[10:00] Why Realtors Often Live Deal-to-Deal
[14:17] On Their Recent and Future Deals
[16:18] On Applying Profit First Into Their Business
[23:20] How They Managed After the Setback They Experienced
[25:24] Planning Around Your Taxes Through Profit First
[28:18] Adam and Amanda’s Future Ventures
[31:10] Adam and Amanda’s Advice for the Audience: Why Profit First is a Benefit for Your Business
[35:50] Connect With Adam and Amanda
Quotes:
[28:36] “I think we've built up a sizable enough war chest at this point, just kind of being unaware of where the economy is gonna go…We don't like to spend a lot of mental energy predicting things…We're just prepared, regardless of what direction it goes in. We've achieved the education that it doesn't really matter which direction the market goes, and we'll be prepared for that, too.”
[31:29] “We started [Profit First] from day one, and what it did is it created space and grace for us to recognize when we can be aggressive and when we need to be concerned. And it gave us so much confidence in what the next step needed to be, whether it was growth or maintain.”
[32:09] “[Profit First] has created firewalls. It has protected us, and it has given us all the confidence we need to know what the right decision is at the right time. And I don’t know what price tag you put on that.”
Connect with Adam & Amanda:
TikTok: @newinvestors
Adam’s Instagram: https://www.instagram.com/theadamnew
Amanda’s Instagram: https://www.instagram.com/amandanew
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
