The #1 Mistake New Agents Make With Finances (And How to Avoid It)

Navigating REALTOR® finances in this rollercoaster market means preparing for the ups and downs. Let’s break down a smart money management strategy by setting up four key accounts:

➡️ Biz Account: This is your professional war chest for expenses like websites and marketing.
➡️ Personal (P) Account: Your private vault for personal spending.
➡️ Tax (T) Account: A crucial reserve because, remember, there’s no W-2 in real estate to handle taxes for you.
➡️ Giving (G) Account: Whether it’s tithing or supporting a cause close to your heart this account is about giving back.

Organize your finances with these accounts to navigate through lean periods without panic. Your next financial peak is on the horizon, and setting up this structure early ensures you’re ready for it. Say goodbye to the days of wondering where your money went. With this system, every dollar has a purpose and a place.

If you are ready to take your business to the next level, please check out my online Mastering Real Estate Course
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@LeighBrownSpeaker @weloveconcord @ncrealtors

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00:00 Realtor money management strategies.
01:07 Real estate accounts for new agents.
02:44 Managing finances in real estate business.
04:00 Saving for taxes and investing in real estate.
04:57 Tax strategies for business owners.