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HOW I SET UP MY REAL ESTATE BUSINESS | LLC, bank accounts, budget, taxes, business credit
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- čas přidán 15. 08. 2024
- In this video I want to share my experience in setting up my real estate business. The video covers the important steps and considerations involved in setting up a business, such as forming a limited liability company (LLC), opening bank accounts, creating a budget, filing taxes, and establishing business credit. I'll provide practical advice and insights into the process of starting a real estate business, with a focus on the necessary legal, financial and organizational aspects. My goal with this video is to educate and guide aspiring real estate entrepreneurs on how to set up and manage a successful business in this field.
LINKS MENTIONED 👇
Budget Template - etsy.me/3JvGt7w
My business/financial binder - amzn.to/3mFJ4CZ
QuickBooks - refer.quickboo...
Wave Accounting - www.waveapps.com/
Chase Bank - www.chase.com/
AMEX - www.americanex...
Brian Jung's Channel - @Jungernaut
• 6 Must Have Business C...
• Ultimate Beginners Gui...
TIMESTAMPS ⏰
00:00 Intro
00:27 Meeting with banker
00:56 Meeting with accountant
02:46 Disclaimer!
02:55 How I got started
03:26 Opening the LLC-Scorp
04:05 Having a financial team
04:58 Business bank account
05:12 Updating my broker & license
05:34 My media company
06:07 Budgeting & accounting software
07:29 My business sinking funds
08:22 Credit
09:20 Taxes
09:31 Outro
FOLLOW ME 📲
TikTok - / julienizbaez
Instagram - / julienizbaez
linktr.ee/juli...
WORK WITH ME 🤝
Are you looking to BUY or SELL real estate? Click Here - bit.ly/3VyvVb6
Are you looking for a REFERRAL partner? Click Here - bit.ly/3i6SYv1
SHOP THESE LINKS 🛍️
My Amazon Favorites - amzn.to/3mWZu73
Keywords:
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*Some of these links are affiliate links. I may get a small commission on your purchase at no cost to you!
#finance #realestate #businesstips
Thank you so much for you content🙏🏻 I’m a new agent and I feel like I don’t even know what I don’t know and your videos are so helpful💕
Thank you so much for your kind words! I'm so thrilled to hear that you found the video helpful and enjoyable to watch. ❤️🔥
I first found your page when I was studying for the real estate exam. It’s amazing to see how far you’ve come and it’s now even more motivating since I’m doing the work now as well ❤
I’m currently studying for my real estate exam. I enjoy your videos and it’s great to see how you have grown-and so young! Very inspiring.
This is exactly what I was looking for I always wondered if realtors tracked miles and got a LLC for their business. Great info thank you!
Great information!
thank you so much for sharing! learned a lot, just wondering why you waited to open a LLC, I’m a new agent and that was the first thing i thought of and wanted to know the cons of doing early
This is fantastic. So many things I didn't think of. Thank you!!
This was a great video! I'm new to real estate and trying to get myself together. Your videos are so helpful!
Thank you for sharing on this topic!!
I have seen a few of your videos and I just subscribed! Thank you for the information. Keep posting!
Thank you so much for subscribing and for your kind words! 💕 I'm thrilled to hear that you've found my videos informative, and I'll definitely keep posting more content. If there are any topics you'd like me to cover in future videos, feel free to let me know. Thanks again for your support! 🙌
Julieniz, how did you reach out to the dbpr to let them know that you have a LLC? I definitely have to do the same? Please help.
What is in your business binder? Like examples to hold onto.
Why wait until a certain threshold before opening an LLC? Like why not right away?
Gracias Julieniez. Can you do a video going more in depth of how you submit your taxes as an S-corp. For example the forms and the process as well as the dates when you submit them. Thanks.
Most businesses have to do this quarterly 4 times a year, especially if she's profitable. Best way to do this is pay a CPA to do it for you. Just don't wait till tax time to start. Start right away w/ a cpa and they submit it for you.
This is such helpful information. Thanks for sharing.
You're very welcome! I'm glad to hear that the video was helpful! 💕
I am a new agent and appreciate all the information in your videos. When you formed your LLC did you use your name for the LLC or something different? Branding is important and have seen both pro and con for using name, so I'm at analysis paralysis :)
Good content, please keep posting!
Thank you for supporting my channel and leaving a comment. I look forward to creating more content for you to enjoy. 🙌❤️
Great video! Thank you
You're very welcome! It means a lot to me that you took the time to watch my video and leave a comment. ❤️
Thank you for this!
You're welcome! I'm so happy that I could be of help to you. Thank you for taking the time to leave a comment. ❤️
I’m in Florida as well and I would like to hire an accountant. Any tips on what to look for?
Thank you 🙏🏼
Great video! Did you use your name for the LLC business name? Or did you come up with a name? And if the latter. Did you use something with Realty in it?
Thank you! I did use my name for my LLC to keep it simple. Every state has different rules when it comes to business names. Some prohibit using the word realty if you are not a broker, for example, others may allow it. I suggest checking your local laws. 😊
@@JulienizBaez Thank you 😊
Hi I just came across your Video and it was so interested i'm here thinking about getting my real estate license. Any suggestion, thank you?
Do you teach realtors anything like what you do?
Amazing ❤
I'm honored that you think so! Thank you for watching and leaving such a nice comment. ❤️🔥
❤i love love love your videos. Thank you soo much. Can I ask what is your LLCs name for real estate? I have a virtual assistant business and wasn’t sure if I should just use that and put my RE things under or create another.
I used my name for my LLC 😊 I suggest talking to an accountant or professional regarding the best way to set up your businesses. But I personally have separate LLCs for both my real estate and media business.
What is the purpose becoming LLC? Like will you be running you own real estate business?
Hi! As real estate agents we are independent contractors meaning we are not employees of our brokers. Therefore, we have to be organized/set up as individual businesses. The purpose really depends on each agent. Some common reasons are to save on taxes, to separate personal and business liability/financial, scaling, hiring/payroll, When you produce over 6 figures annually, it definitely helps to have this set up. This is different than having my own brokerage. Hope this answers your question. 🙏
Hey girl, I have a question. Do you suggest obtaining the LLC as an agent who is pursuing to buy properties as investments? For example, I am looking to buy a second home but simply to start renting it out. Should I do this under an LLC? Thanks in advance.
Hi love! I would recommend first to speak with a professional to help determine the best course of action for your scenario. But it is always good to keep things separate especially agent sales vs investing in RE. It also helps for liability purposes. Hope this helps!
@@JulienizBaez You’re the best! Thank you.
Yaaaaayyyy
Yay, indeed! Thank you for your enthusiasm and for watching my video. 🥰