Business owners; financial software

[GetnBigr]

I know there are a few business owners here. I am looking into starting a business of my own and need a good financial software package to build a business plan and maintain finances after it is up and running.

Any ideas, comments, suggestions?

[SuperSport]

Geez...when I started my biz "offically" in 1991 nobody had computers or software...lol.

I just take my stuff and give it to my CPA....let him figure everything out, lol.

The way mine is set up having it on computer would be of no real benefit.. ...however if I had a biz where inventory was involved for example it would be neccessary.

[GetnBigr]

no inventory

buying houses, renovating, and either keeping for investment purposes or reselling at higher price

[SuperSport]

Good idea...I have dabbled in that just a little. My parents do a good bit of it...my mother has been a real estate broker for 35 years.

Don't think I can help you much on the computer side of things...but I can give you just a little advice.

Try to hook up w/ a real estate agent that is involved in repossesions-somebody w/ regular dealings with Freddie Mac, VA, etc....If you establish a good contact they can give you the heads up on properties that are coming available.

My mom deals with alot of repo's...and finds out what is coming up in the next 6-8 weeks before they are even foreclosed on.

You will probably need to find some cheap labor-repo's usually need some clean up, debris removal, paint, etc.

Find a latino center where you can get dependable help at a reasonable price....those guys will work their asses off for 7-8 bucks an hour most of the time.

[Heckman]

I don't use software either. All of my work and contacts are done from a 3 ring binder..nothing else...I only occasionaly will mail the products myself. But I do use email...I believe in keeping it very simple!

[GetnBigr]

Good idea...I have dabbled in that just a little. My parents do a good bit of it...my mother has been a real estate broker for 35 years.

Don't think I can help you much on the computer side of things...but I can give you just a little advice.

Try to hook up w/ a real estate agent that is involved in repossesions-somebody w/ regular dealings with Freddie Mac, VA, etc....If you establish a good contact they can give you the heads up on properties that are coming available.

My mom deals with alot of repo's...and finds out what is coming up in the next 6-8 weeks before they are even foreclosed on.

You will probably need to find some cheap labor-repo's usually need some clean up, debris removal, paint, etc.

Find a latino center where you can get dependable help at a reasonable price....those guys will work their asses off for 7-8 bucks an hour most of the time.

I am half way through real esate school right now. I have 4 weeks left. I go at night so as not to effect my regular job. I will be working under another broker (wife's Uncle) for normal buying and selling for other people. I am opening another company for myself strictly for investing/renovating. I plan on using an accountant but I want to keep records for myself. As far as the work goes, I grew up doing construction for my dad's company so I will do most of it.

SS- I appreciate the tips. I have a connection with a guy that makes his living selling lists of foreclosures; he buys the best ones. flips them for quick profit. I will running all my trasactions thru the real estate broker I work for so I get paid on both ends.

[vanilla gorilla]

This probably won't help much, but the right software program is a gift from god. I sell and finance cars and I bought the Wayne Reeves program and I have to say that is the best investment I made so far for my company. It does anything and everything for the car business. I need no secretary or book keepers. It prints my sales tax reports each month, keeps up with inventory and costs, prints my contracts and bill of sales, and does the biggest pain in the ass of all, title work. Hell it will even cheat the government, but of course I don't practive that. It was pricey, but well worth it, and has paid for itself in the long run.

If you find the right program for what your looking for jump on it. No matter what it costs. If it can save you on overhead than its well worth the investment. I paid a little over $6000 for my program, but hell I don't have to pay a secretary $20k a year or bookeepers.

[Heckman]

I am half way through real esate school right now. I have 4 weeks left. I go at night so as not to effect my regular job. I will be working under another broker (wife's Uncle) for normal buying and selling for other people. I am opening another company for myself strictly for investing/renovating. I plan on using an accountant but I want to keep records for myself. As far as the work goes, I grew up doing construction for my dad's company so I will do most of it.

SS- I appreciate the tips. I have a connection with a guy that makes his living selling lists of foreclosures; he buys the best ones. flips them for quick profit. I will running all my trasactions thru the real estate broker I work for so I get paid on both ends.

Hey, good for you GnB. I just finished my R.E. school and have my state exam on the 28th of the month. This will give me another part time thing to do, beside my current business...With the median price of house out here being 585,000 the commission is not hard to figure out!
Good luck to you!

[GetnBigr]

Thanks VG!!


Heck, commissions where you are will be huge!!! You may decide to take it full time!

[SuperSport]

Guess we all are going to be real estate brokers here at IM.

I am finally going to get my liscence-well at least take the classes and TRY to get my liscense this winter.

Don't ask me what I am going to do with it though. lol.

Like I don't have enough on my plate as it is.

My mother taught the weekend crash course real estate deal for several years, so i figure i can pick her brain and pass the class.

Heck and GB...sounds like a great opportunity for you guys. Donald Trumps in the making, right here on IM. Cool!!!!

Just don't forget your online friends when you hit paydirt!

[Heckman]

Yep, so send all of your friends out here to buy some of our over priced houses!
My broker friend has been on me for years to get my R.E. license . Since I'm so polite, (right IH?) she said I will do well as a buyers agent.

[IM^]

Best software for business planning and market planning
Business Plan Pro 2005 and Marketing Plan Pro 2005 from Palo Alto Software

Best Software for Accounting and Business Financial Tracking
QuickBooks 2004 (2005 coming out soon) from Intuit

Premier Editions available for all three software versions (premier gives you everything you could need). Basic and Pro Editions are also available.

[GetnBigr]

Thanks for all the info!

Before this is finished we might have to get winnie to make us a Real Estate Forum.

IM^, thank you for the suggestion, I will be checking them out today.

[CCapel]

We use Microsoft Money 2004 -small business +.

will do payroll, inventory, manage customer, P&R, invoices, cash flow and investments.

Works well for us and our website.

[GetnBigr]

thanks CC