#15 - Unpacking QuickBooks and real estate business strategies with Nick Baldo

The Money Mindset Mentoring Podcast

In this episode, Steve Hamoen and Nick Baldo discuss the future of business, the importance of a strong balance sheet, and the role of auditing in real estate businesses. They share experiences on overcoming QuickBooks fears, exploring its benefits, and delve into the current real estate market. They highlight the value of professional presentation, organized financial documents, community learning, and understanding bookkeeping basics. (0:00) Introduction with Nick Baldo (6:43) Discussion on envisioning the future of your business and importance of a strong balance sheet (15:30) Conversation on auditing and consolidation in accounting for real estate businesses (21:08) Sharing experiences and overcoming the fear of journal entries in QuickBooks (23:12) Deep dive into QuickBooks features: products and services and their benefits (25:13) Insights on the current real estate market and the burst strategy (27:47) Significance of professional presentation in the construction industry and organized financial documents (29:31) Evolution of Nick Baldo's course and the value of community learning (35:08) Managing multiple businesses on one QuickBooks account and consolidating subscriptions (38:02) Introduction to the bookkeeping marketplace and the importance of understanding the basics (41:00) Wrap up of the interview with Nick Baldo and closing remarks