Episode Summary
Welcome back to the Luxury Rental Doctor Podcast! đ§
Bookkeeping may not be sexy⊠but losing $26,000 because of bad books? Thatâs painful. đŹ
In this honest and action-packed episode, Dr. Rachel talks with Jonathan Farber, real estate investor and founder of a finance team consultancy, who shares the real-life consequences of poor bookkeeping and how he recovered. From avoiding audits to delegating without losing control, this conversation is a must-listen for high-earning professionals juggling business, family, and financial goals.
Youâll learn how to simplify your finances, clean up neglected books, and manage it all in just 30 minutes a month.
đĄ Key Takeaways:
Donât Wait âTil Tax Time: Bookkeeping should be a year-round process
Bookkeeper vs Accountant vs Tax Strategist â Know who does what
The $26K Mistake: Why guessing your numbers is never a good idea
Clean-Up Process: How to get your books back on track if youâve ignored them
Delegation Without Fear: Maintain oversight while freeing up your time
Jonathanâs Hiring Framework: âPurple Hippoâ filtering, paid trials, and test projects
đ Topics Covered:
[00:00:00] Jonathanâs $26K Loss and Why It Happened
[00:02:45] Bookkeeping vs. Tax Filing vs. Strategy
[00:06:10] Why Most People Are Scared of Their Numbers
[00:10:45] Outsourcing Without Losing Control
[00:13:20] Calculating Cost Per Hour and Delegating Accordingly
[00:17:30] How to Structure Your Real Estate Bank Accounts
[00:20:15] Step-by-Step: Fixing a Year of Messy Books
[00:25:30] Hiring the Right Bookkeeper with âPurple Hippoâ Vetting
[00:29:00] Team Delegation, Ownership, and Scaling Your Time
đ€ Featured Guest:
Jonathan Farber
Investor, podcaster, and founder of a bookkeeping team that supports busy real estate investors. With 16 doors and counting, Jonathan shares how to avoid common mistakes and simplify your business financesâwithout losing your mind.
đ Based between New York and MedellĂn, Colombia.
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