Today we are joined by Gene Donohue, CPO, a Profit First coach for real estate agents. Gene originally started out in real estate himself and eventually joined a company called Fathom Realty, where he became the national director and developed their mentor program. Witnessing agents fail while in this position motivated Gene to help real estate brokerages, teams, and agents avoid financial struggles and achieve the lifestyle they imagined when they first got their license.
Having a passion for numbers and money, Gene found a solution in the Profit First method, which combines the envelope system with modern technology and professional guidance to help real estate professionals manage their commissions effectively. In this episode, he joins us to talk about the Profit First process and how it helps real estate agents alleviate stress and build sustainable wealth by setting aside money for taxes and breaking down funds into different accounts.
Stay tuned for an insightful conversation with Gene as he discusses how this process works from start to finish. We’ll cover why systems and processes such as this can be so helpful in supporting financial stability in the real estate business.
Here is some of what we’ll cover in this episode:
- Gene shares about his background in real estate. (1:54)
- Gene discusses the basic tenants of Profit First. (4:42)
- Gene talks through what the Profit First process looks like. (10:10)
- The importance of having processes and procedures in place as a real estate agent to create a sustainable lifestyle. (14:30)
- The first steps to take if you are interested in this process. (23:56)
Get in touch with Gene:
gene@genedonohue.com
CONNECT:
Need help on the personal side of your finances? Work with Jordan here:
https://www.quantumplanning.com/financial-planning-for-top-producing-real-estate-professionals/
And if it's the business side where you need the most assistance, check out Michael here:
https://kilneradvantage.com/
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