Raul’s Tips For Money Management In The Real Estate Industry! (Video)
Video Transcription
Raul: What’s up guys? Raul, your real estate guide, to tell you a bunch of cool stuff. Anyway, so today, I’m going to talk a little bit about financials. Number one, I’m not a CPA. I’m not an accountant. I’m not an MBA. I’m not a TTA, a BBA, a CTA, whatever other As there are. But I can give you a little bit of advice of what’s worked for us. If you’re in the real estate industry, you can relate to this, but this works for any industry.
You definitely need to have more than one account. When I say account, I mean bank account. If you have a check coming in to your account … I’m going to draw a little bit. If you’ve got a check coming in here, a check coming into your account, it’s got to go to an account. This account needs to have for taxes, and this account needs to have for investments. Then you got to have one for expenses. You feel me? At the very least, do this. When you make 10 grand, you don’t got 10 grand. When you make 10,000, Uncle Sam has got some of your money. You just haven’t paid it yet, so save for it.
If you make 10 grand, and you don’t invest the 10 grand, the 10 grand is going to be gone by Uncle Sam, by your expenses, by food, by gas, by Blockbuster, which is out of business. I don’t know why I said that. By Netflix, whatever, expenses will kill you, so you guys, separate man. Separate, it’s important. It’s important to separate the money, so you can invest it. Then you log in to your Chase, or your Wells Fargo, whatever. You say, “Okay, this is how much money I got in this account. I can be fun here. I can spend taxes here. I can do what I want.” At the very least, separate something. It doesn’t have to be in this order. The point here, get the money, separate it, so you guys can spend and investment more. Investment with us. Hit us up.