Brady Richardson sits down to explain to us how he manages his wealth.
Today I had the pleasure of speaking with Brady Richardson, one of our top producers, to talk about wealth. Brady came to Keller Williams seven years ago, and it has been a life-changing experience for him. Last year he closed 61 deals and built five houses. This year he’s on track to build nine houses.
According to Brady, he was a mess when he first arrived: He used one credit card for everything, and when it came to taxes, he was using paper receipts. It would take him a week to get all of those receipts together. Now he has QuickBooks, which has changed his life, and he had an attorney help him set up an LLC. He has Keller Williams pay his LLC, which in turn pays him. This means that not only is his business profitable, but he gets a W-2, which makes getting loans a lot easier.
Brady recently built a duplex, and he was going to do a cash-out refinancing for that. Because he has a profitable four-year-old LLC, this posed no problem for him.
There’s only one credit card for Brady’s business account. Any time he spends money on the business, it goes on that card which is connected to QuickBooks. There’s no searching for receipts for Brady. QuickBooks is connected directly to his accountant, and it’s unusual for them to meet for more than five minutes once a year.
It was super exciting to talk to Brady. If you have any questions about wealth or managing wealth, please don’t hesitate to contact me by phone or email. I’d love to answer your questions.