Property Management Services. St. George, Salt Lake City, Pocatello, Idaho Falls

welcome to BMG rentals a property management company if you’re looking for a place to rent check out the video tours right here on our website these tours are like having a friend walk through the home for you this saves you the time and money of driving around town when you find a home you like give us a call to schedule an appointment to view the property and then simply apply online our current tenants enjoy the convenience of paying their rent viewing statements and submitting maintenance requests through our secure online portal if you’re a homeowner thinking about renting out your house be sure and download the owner information packet this includes a full explanation of our management system answers to the most frequently asked questions a sample management agreement and what to expect when turning your home into a rental you and your property will benefit from our in-depth tenant screening and our thorough property inspection program feel free to contact us to discuss your property we are happy to give you the numbers and information you’ll need to make the right decision if you’re an investor you’re going to love our services we started this company as property owners ourselves we wanted a better management system we developed our program to work for investors and not against we do not charge set up leasing or other fees that add to the expensive turnover vacancy and maintenance property owners we understand that vacancy and turnover are two of the biggest expenses that you have to deal with and we do not capitalize on your losses through these junk fees our management system works with your best interest in mind plus you’ll be able to take advantage of our smart online owner portal with financial statements real-time reports to track income and expenses customized accounting reports and year-end tax statements when you hire us you’ll get a dedicated property manager assigned to your property as well as an entire team of professionals working for you thank you for visiting our website if you’re looking for a place to live or want us to manage your property we’d love to hear from you you you

How to Properly Manage Your Money Like the Rich | Tom Ferry

So how many of you How many of you were raised perhaps like me where in your family? So how many of you How many of you were raised perhaps like me where in your family? Maybe there was some split How many of you were raised perhaps like me where in your family? Maybe there was some split mentalities around money How many of you know what I’m talking about? You know like maybe mom had a certain way of thinking and dad had a certain way of thinking So how many of you guys know who my dad is? My mom and dad got married when they were like 22 years old, my dad flunked out of college Right as a speech and communication major which is pretty awesome considering he’s like one of the greatest motivational and real estate training speakers ever right and His mindset because his mentor this is what his mentor said to him you want to make a lot of money go buy a rolls-royce Go get a big fancy watch and go get a really expensive car and a real expensive house And you will be motivated like crazy And you will go do whatever it takes to be successful and guess what my dad did He went up a big fancy car big watch.You know rolls-royce the whole nine yards and every day He was like this. Holy shit. I gotta make money My mom on the other hand Grew up in an environment with a few more kids my grandfather. My mom’s mom passed away when she was very young and she Immediately had to go to work at like 14 years old by the time. She was 16 She was working at Disneyland as a Mouseketeer You know Orange County, California, and she’s doing great But all of her money went back into the family So she would work only to basically have no for herself benefit from it so in her mind Every cookie in the cookie jar mattered you should be very mindful with every single dollar Imagine growing up in that house This one is like it’s not how much money You just need to make sure there’s at least one cookie in the cookie jar we could divide it up six ways and my dad’s like we should start a cookie factory and finance the entire thing Well, no surprise that relationship did not last long right my dad actually ended up marrying somebody who was ridiculously financially savvy And I think she’s somewhere inside the room who are you inside the realm? My my other mom somewhere inside her maybe you’re running around the room The bottom line was this I grew up with a completely messed up psychology when it came to money And it wasn’t until in my mid-20s when I met one of my mentors who he showed me something which I’m gonna Show you, the bottom line is this guy’s money is a tool nothing more nothing less say that out loud Money is a tool nothing more nothing less, listen if you’re a jerk money makes you more of a jerk if You are mother Teresa money makes you more mother Teresa It is just a tool, but this is what I know how many of you know someone that doesn’t have enough money, I Don’t know about you guys.I don’t want to be that person and Not that I feel bad for them or less them all I think to myself is That person was never taught what I’m about to teach you They never understood that your money is a tool and just like an app on a phone if you don’t use it and play the game right and follow the steps. You don’t get the results. It’s not how much money you earn It is what you do with the money that matters, you guys with me on this So I want you to write in your notes the following There’s been a lot of research on this and you’ve probably seen something like this before Especially if you’ve ever met with a financial planner, or you know you’ve watched CNN financial. They all say the same thing write down 5, 15 and 80. 5, 15 and 80. 5 percent 15 percent and 80 percent Five percent 15 percent and 80 percent and as all the studies show it Says five percent of the planet are basically generational wealth They have created generational wealth It’s not the top one percent guys somebody who is worth five million dollars Who has paid off their home and when they pass on they Transfer all that wealth over.That’s generational wealth you with me on this Some of them are worth millions some of them ten some of them are hundreds some of them are now billions But that’s the 5% the 15% write this in your notes. You ready. They are the middle class They got a house They got a little savings. They go on a few vacations, and they’re comfortable and there’s nothing wrong with that 15% But where do you think the 80% sets? Darcy the 80% 80% 80% look around the room potentially 80 percent of this room I don’t think so, but potentially with the numbers 80 percent of this room when they are older either A have to work to make money or B are dependent upon the government or their family to subsidize their lifestyle 80% 80% 80% some of your think to yourself my kids better be successful 5% generational wealth and it starts at five million dollars and above fifteen percent comfortable my in-laws are 93 and 90 years old they have a million dollar net worth there in that 15 percent, house is paid for that they bought for $11 300 years ago right in Anaheim, California on Bruce Street Paid that sucker off Every time I talked to my father law you see my Ford stock Right he’s not he started buying Ford stock like in 1948 You with me like I had a dollar that I had two shares then three shares, but over time guess what he’s in that 15% How many of you know someone right now though? That based upon their money behaviors, and their money psychology They’re clearly going to end up in the 80% Don’t point out him if they’re in this room and don’t like you know make them wrong, but I’d like you to consider Maybe they just never heard what I’m about to share with you So I’m gonna show you guys a business strategy for your money you guys have for that a business strategy I’m not gonna tell you what to invest in that’s not my role I’m going to show you ideas of what the very best people do, I’m gonna put it up on the big screen Which means the team’s gonna keep it here the whole time? And you’re gonna take detailed copious notes, so here’s the first thing.I want to show you This is what 80% of real estate professionals do 80% of real estate professionals They get a commission check and that check goes into their personal account their personal account 80% they get a check and it goes into their personal account they go home And maybe they say here honey, or here on by myself, and I put it in my account But this personal account is not an LLC an S. Corp a limited light You know limited partnership. It’s not a corporation.It’s a personal thing now. I’m not gonna Ask you to raise your hands if that’s you But I am gonna say this to you I would like to thank you for paying lots in taxes Thank you very much. I really appreciate you overpaying what you should be paying keep up the good work So what’s rule number one? Should I have a corporation yes, or yes? Yes, or yes? so check this out guys if you answered this, don’t feel bad I will teach this stuff at conferences And I’m blown away by ten people in the room 10,000 people in the room the number of people that go Yeah, I thought about doing that but like I don’t know like which one do I pick I’m no expert Here’s what you do you call your Accountant and say I think I need to get incorporated, which you recommend based on where I live What country what state etc? But rule number one is no one leaves this conference in 30 days if you are not incorporated And you don’t own your business and now your checks come to blankety-blank LLC not you personally Cuz now you get all the tax advantages yes or no guys But I got to tell you, this is what the 80% does and this is clearly bad.Let me show you What the 15% do. I Want you to draw this out I Want you to imagine a world, where and by the way? Did you guys notice the subtle little difference? This one says check this one says checks Because people that get checks Understand the following, I get the check it goes directly into my business account Right I get it wired in from escrow. I don’t get physical checks anymore the money Just gets transferred over, you with me Oh my a escrow company my title coming up won’t do it great get the physical check But it goes into a business account, which means now as you can see I’m gonna have four different Accounts at my bank Four different accounts at my bank. I’m get out my business account I’m gonna have my tax account to me three accounts Tax account business account and my home account my personal account Here’s the reality my friends if I if I can encourage and inspire You know every single one of you to just do that and then Follow the rule you ready write this in your notes above the tax account I want you to write down let’s let’s do an imaginary check and I want you to show you how much money goes where so at the top, let’s say, that’s a $10,000 check, just for easy numbers $10,000 check so all of a sudden $10,000 hits my business account and the first thing that happens is instantaneously 3,300 of the 10,000 goes directly into my tax account 3300 automatically into my tax account because some of you think when you get a check for 10 grand that you actually have 10 grand How many of you are in the state of California or New York or in the country of Canada You get a check for 10 grand, and you’re lucky if you get 4,500 That’s the real deal now you’re an entrepreneur you own your own business you’re gonna start taking better write-offs You’re gonna pay more attention to your accountant You’re probably gonna have your uncle Larry who’s done your taxes forever stop and actually hire a CPA who’s gonna pay attention? But 3,300 bucks automatically goes there then 3,300 or less goes into your business account and This is where I run my business a check comes in I’ve got marketing a check comes in I’ve got expenses a check comes in I’ve got my MLS dues Everything that I need to run my business every check 3,300 3,300, and then what goes over here 3,400 bucks to my home Now it sounds like you might need a home budget.What do you guys think? Because many times what do we do we get a check and we just start spending the money? By the way if you look at this the very first one. This is the the cardinal sin this is what poor people do they get a check and They just start spending Who knows someone like that say I? matter of fact the bigger the check the more they start spending and they never think about Debt reduction because they’ll do that later Because I’ve worked so hard and this was such a challenging transaction And that’s why I’m going to overindulge and over and spend on myself, and we know the financial rollercoaster. You’re actually putting yourself through this my friends is What the people do that take care of their money they know Uncle Sam or Revenue, Canada or Mexico? They’re taking their money. No matter what so when I commit that Check comes in I don’t say to myself I get it all it automatically goes there I leave a piece here, and the balance goes here makes sense so tell your buddy.Are you gonna do this yes or no? Yes or no Now here’s what I know look up here guys The number of clients that have done this and then I see them a year later And they go I have $15,000 and my savings kind of never had that but more importantly I paid all my taxes Like I’m on time and I have money inside my business account and it’s the end of the year and my accountant said I need to take a Dividend so I’m getting a big chunk of change at the end of the year. This is awesome Now I don’t know about you guys, but I like is anybody like nice things You know family trips vacations memories, holidays, you know maybe a new outfit The challenge is if you keep that psychology without requiring or putting in the discipline You know what you end up with a bunch of nice things and a shit ton of debt So do me a favor tell your buddy.Do you know someone personally that has too much debt? Anybody’s anybody inside this room Now listen there’s smart Debt. There’s bad, debt, and I’m not gonna go too in depth with you on this But you know the difference you know credit card, debt at nineteen percent is dumb Debt buying a house and getting a mortgage with three-and-a-half percent is really good debt So we all know the difference, and I just want you to be mindful I want you to take care of your money, but now did you guys get a photo of this? Did you capture it are you sure? Are you promising to do this? Okay, do you want to know what the wealthy agents do? This is what the wealthy agents.Do it’s a little more complex It’s a little more complex I would get it up on the big screen over there guys and take a photo of it, but more importantly I want you to draw the whole thing out in your notes Draw the whole thing out on your notes, this is what the wealthy do This is the stuff that no one taught me so all until Bill Mitchell Pulled me aside and said what do you do with your money? and I’m like I don’t know I just get the check and I throw it inside my account and I spend it like crazy and I never have any cash, and I’m always in trouble Draw this out So play a game with me you get a $10,000 check The $10,000 check goes to what account? to what account and 33% of it goes automatically where To my tax account because I don’t really have 10,000.I really have like you know 6,000 and change that’s the real deal so 3300 automatically here then I take another 3300 over here or less because I don’t know your business expenses But by the way guys here Marketing costs should be no more than 10% of your expected gross revenue Your marketing cost should be no more than 10% of your expected gross revenue So a percentage that 3300 is gonna go for your direct mail and your Marketing and your email and your Zillow leads and your Facebook ads and the prints and the brochures and everything else But no more than 10% No more than 10% got it? Because you’re incorporated now your car and a piece of your house and all kinds of other things get written off into or from this account so we like that but you might also have inside there ready guys a Virtual assistant an assistant well, where is that person gonna be paid from you got a check for 10 grand You didn’t actually get 10 grand you got 6730 3300 goes inside here now I can pay my assistant it starts to work like clockwork you with me, but you can see This is where it gets interesting Some people call this other account your investment account.I like to think of it as my financial hub It’s where the money comes in and then it gets divided again Now I’m not a financial planner nor do. I you know even would even attempt to be, but I’m giving you just an example Of what that extra thirty four hundred dollars could go towards So maybe you need because you do two deals a month you’re like I need Four grand a month to come into the home expenses So I’m gonna take you know two grand of my thirty three hundred or the thirty four hundred. Where does the rest go? Do you have a retirement account? Do you put money in the stock market or in bonds or whatever you believe in 401 K Do you have an account where you just put cash? to buy real estate Why not on every check take five percent of every check put into an account called cash for real estate And you just watch that sucker grow like crazy over time I’n two years, and also you’re like I got 185 thousand bucks in cash sitting inside that account I should go buy a duplex.I should go buy a four-plex. I now have the money to go do these deals retirement account real estate cash account I use this because I did it you know with my kids a 529 B account which is a college fund Cash account since we did real estate cash. What do we call this the fun account? The fun account you know the I’m gonna go spend this money on stupid stuff and Throw it away later and not care or I’m gonna take this money, and I’m gonna use it for vacations and holidays What action are you going to take in the next 30 days around this conversation? There’s no more information.That’s it? Tell your buddy What actions are you gonna take in the next 30 days do it right now? Okay thanks so much for watching we have a number of events coming up and we’d love to have you there Visit tom ferry dot com forward slash events and reserve your spot today.

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