REI Business Foundation Seminars
NEW: Setting up your REI business: step-by-step
1 DVD – 3 hours. Introductory-to-Intermediate level
Part 1: How to set up your REI company
Part 2: How to set up your REI bookkeeping
This class is different from a typical guru class.
Most classes out there are “too much.” They’re too advanced, too detailed, and too long. This is a very short, bare-bones introductory class. Only what you must know, and nothing else.
Most classes out there do not leave you with a clear to-do list. They give you a lot of information, but where do you start? Not this class! You will get a specific actionable plan: step 1, step 2, step 3 and so on. You will know exactly what to do.
Part 1 – How to set up your REI company
I have met clients who spent weeks and hundreds of dollars designing their business cards. They also “invested” thousands of dollars in a website design and search engine optimization. And I know many investors who spent more than $10,000 setting up Nevada corporations with supposedly bullet-proof asset protection. Is it necessary for a new investor? No, it isn’t.
Then what is necessary? Frankly, not much. You can go out and start scooping up wholesale deals with nothing but your cell phone, pen and paper. I know successful investors who did just that. While wearing crocs.
The next level – which I think all investors should implement – is to set up your REI business as something that we call professional.
This term usually implies:
- business name
- branding
- online presence
- LLC
- bank accounts
- payroll
- technology
- office
- assistants
- systems
Which of those do you really need from day one?
Which of those you can postpone?
What is the easiest, fastest and cheapest way to get them?
This is exactly what we will be talking about!
What we’re NOT going to cover? The advanced stuff. For example, partnerships and joint ventures, various business entities such as corporations, asset protection, tax implications, business insurance etc. In other words, everything that most beginner investors do not need from the get-go.
Extremely useful information. After this class I feel prepared to begin this venture if I choose to
Lisa Velasco
Part 2 – How to set up your REI bookkeeping
So, am I going to teach you how to use QuickBooks and customize it for real estate business – in one hour? No way! First, such training would take days. If you’re interested in the nuts and bolts of REI accounting, you can purchase this recording of our 2-day bootcamp. More importantly, it is not necessary. QuickBooks is a very complicated software package, and I have reservations recommending it to beginners.
However, some kind of bookkeeping is certainly needed. Everyone knows that, but almost nobody has decent records. Why?
- It sounds like a major pain. No, it is not. I will show you that this hassle can be reduced to a very manageable task. It’s still not fun, but easy enough.
- There is a common myth that bank and credit card statements are all the bookkeeping you need. I will explain why this is not true.
- We pretend to have a backup plan: hire a bookkeeper next year, and she will take care of it. No, she won’t. At least not the way you hope. I will tell you why you cannot completely outsource it.
What is required for a workable yet not overwhelming bookkeeping system?
- Understanding why bookkeeping for the IRS and bookkeeping for business are incompatible
- Understanding the 2 different real estate business models
- Knowing what information and paper trail to keep
- Knowing how to categorize (and how not to categorize) expenses
- Using software technology to save time and hassle
- Developing some discipline (sorry, this is not optional)
What I just listed is exactly what we’re going to discuss in this class. Expect to gain a clear understanding of the basic bookkeeping requirements.
What is not covered? You guessed it – the advanced stuff. For example, recording of specific types of real estate transactions, financial statements such as Profit & Loss statements, Balance sheets, double-entry bookkeeping, chart of accounts, QuickBooks software or any other software, income tax issues or payroll issues. I will point out where you can get this additional information, but fundamentals first. And this class is about fundamentals.
I have learned so much in this hour. I can just imagine the money that I would have saved if I had met you earlier!
Amanda Trevino
Warning: This is not a “how to make money in real estate”, nor is it a taxation class. This is a business setup class.
Your $297 investment will save you countless hours and thousands of dollars! And you will be able to focus your time and energy where it should be: making deals!
BETTER VALUE: All 4 “REI Foundation” seminars for the price of three: $1,097 – one seminar FREE!
BEST VALUE: Entire library – all 11 seminars for the price of seven: $2,497 – FOUR seminars FREE!