How Loft turned my life around (financially...at least).
I was one of those agents who just paid everything out of whatever credit card or checking account that had money available to use. I ran fast and didn't have time for bookkeeping. Still don't to this day!
Low and behold, I was a financial mess. Not only did I hate paying taxes, but the thought of organizing all the paperwork and going through my bills was unbearable! Especially since I was doing the taxes after all the possible extensions were due, and to figure out what was business and what was personal? What a mess!
What do I do now? The same rat race? Heck, no! I was introduced to Loft47 and Xero and WOW -- CHANGED MY LIFE! Yes. THAT WAS IT. Then something else happened that I thought was interesting -- now that my books were clean (essentially automatically with a few minor exceptions), I was actually saving thousands of dollars a year because my accountant recommended a new tax strategy that saved me a lot on taxes. And I mean A LOT. My accountant could se my books and where I was spending my money much clearer. I can now get reports in a flash (easy for lending...I'm just in the process of buying another rental property and they asked for my Profit & Loss. Had it up in just a few clicks!).
Other benefits include:
- What my brokerage REALLY costs (that was an eye-opener for me!)
- Optimizing tax and cash flow forecasts
- Being best prepared for an audit, if one should ever come
- Saving money with accounting and bookkeeping by automation
- Taxes are done in a moment
- And many, many more!
To put it in a nutshell, I could never run my business without Loft47 and Xero. Never. It's a must for agents selling real estate today.
You can personally reach out to me and ask questions. I've become a raving fan of Loft's. Agents should be more aware of their financial house and Loft and Xero allow them to.
Looking Forward to Serving You -- Ted