All Forum Posts by: Mat Lewczenko

So I got Peachtree Pro Accounting 2010 for Free with a Full Rebate but everyone is using QuickBooks.

Does anyone have experience with both? Or, why did you choose one over the other?

Any reccommendations for a newb?

Thank you all for passing on your experience. Very much appreciated. Now lets see what my guys comes up with.

Thanks Bobby, could you share your perspective on why S corp over C corp?

Thanks everyone, I think that helps us out a good bit. At least gives me some great questions to ask my CPA next week.

I feel like we would set up our LLC in the state that we are in, for the main entity that we do buisness in. There will be two of us as managing members (wife). Then our portfolio would be under spearate LLC's.

As far as the main entity that we will be running, I keep getting stuck on the taxation issue. C or S? I have read through article after article and am still not clear on the advantages of one over the other.

Will keep reading though. We will also see what my CPA has to say about it as well.

2% on 250k is barely more than first month, last month and security on a $1500/mo rental, they are tryin to hose you.

It's a buyers market for sure, but they are NOT buyers if they are looking for owner financing, ball is in your court. Cover yourself.

You mentioned that you bought your home four years ago, that was near the beginning of the "slide". You also mentioned that you have a mortgage and a credit on your home? Is that an Equity Line?

Do you know what the current rents are in your area for comparable homes, and will they cover your current payment, or come close?

Also, in the next 12 months are you ready to re-repair your imporvements after the tenants have moved out?

Not sure if a "renter" is your best bet, depending on the answers to a few of those questions, but you may consider an owner-financing strategy. Lease-Option/Contract for Deed, where your tenant has a more vested interest in the property and will treat it as their own, instead of a rental.

Love this topic.
Brian Tracy is really good. Some other great Autohors/Experts on goal setting agree that "Thinking from the End" is the best way to achieve all the things that you want.

Bill has a good point. Goals need to be realistic, but also should be made to stretch you or take you out of your comfort zone.
There seems to be two thoughts on goal setting that Bill touches on.

1. Set them High - "Aim for the stars cause even if you miss you'll still hit the Moon" -which is good if you are super driven. This method can burn you out and be a little demoralizing if you can't bear not meeting your goals. If you can step back and still be proud of what you have accomplished then this method may be good for you.

2. Being Realistic with your goals, which bill covered well in his post.

Another thing I do is try and make myself uncomfortable everyday. I look for ways to stretch my comfort zone as much as possible. Speaking to new people, making 20 extra calls. Door Knocking. Whatever it is - if you are always going a little further than your comfort zone then you are growing and in turn getting closer and closer to your goals.

Good for you! Go for it.
I think you have a good base of aspirations. I think that leaders in all industry have become that way because they have found weaknesses in the industries they represent and filled in the gaps. It sounds exactly like what you are laying out.

I'm always looking to set myself apart from all others out there. It all comes back to "value". - How much you can bring to any given situation. I guess you could make that a #5.

#5: Value - If you can continually bring more value than your clients are expecting, then your compensation will continue to rise to meet your level of "Value".

Sometimes the difference between Good and Excellent is the difference between a "Hey, What's up?" and a "Good Morning Sir." -- and it doesn't cost you a dime.

You sound like you are gonna kill it. I wish you unlimited success. Cheers.

That's so funny, I didn't even realize I was doing it. Every time my dad would come to visit, we always has a project waiting - like a deck, or a shed, or a laundry room.

So, let me get this straight. If get an email to my @email1.com account and set it up in Gmail, when I reply does the receiver get an email from my gmail account or does it still maintain its @email1.com domain? If so then that is a very good thing and I will be switching soon.