How Loft47 Turned Real Estate Agent,Ted Schaar’s, Life Around Financially
We met Ted Schaar in November of 2016 when he was at his wit’s end. He had been through two bad experiences with two different back-office solutions and he and his books were paying the price.
I asked him to tell us more about the impact Loft47 made on his world and I wanted to share his words with you. We really are on a mission to help Brokerages and Agents and I think Ted’s story really summarizes the reason why we come to work every day. Enjoy the read!
How Loft turned my life around (financially...at least).
I was one of those agents who just paid everything out of whatever credit card or checking account that had money available to use. I ran fast and didn't have time for bookkeeping. Still don't to this day!
Low and behold, I was a financial mess. Not only did I hate paying taxes, but the thought of organizing all the paperwork and going through my bills was unbearable! Especially since I was doing the taxes after all the possible extensions were due, and to figure out what was business and what was personal? What a mess!
What do I do now? The same rat race? Heck, no! I was introduced to Loft47 and Xero and WOW -- CHANGED MY LIFE! Yes. THAT WAS IT. Then something else happened that I thought was interesting -- now that my books were clean (essentially automatically with a few minor exceptions), I was actually saving thousands of dollars a year because my accountant recommended a new tax strategy that saved me a lot on taxes. And I mean A LOT. My accountant could se my books and where I was spending my money much clearer. I can now get reports in a flash (easy for lending...I'm just in the process of buying another rental property and they asked for my Profit & Loss. Had it up in just a few clicks!).
Other benefits include:
- What my brokerage REALLY costs (that was an eye-opener for me!)
- Optimizing tax and cash flow forecasts
- Being best prepared for an audit, if one should ever come
- Saving money with accounting and bookkeeping by automation
- Taxes are done in a moment
- And many, many more!
To put it in a nutshell, I could never run my business without Loft47 and Xero. Never. It's a must for agents selling real estate today.
You can personally reach out to me and ask questions. I've become a raving fan of Loft's. Agents should be more aware of their financial house and Loft and Xero allow them to.
Looking Forward to Serving You -- Ted