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Accounting for Land Investors Reviews


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This class is one of the most important classes for our business! Seriously, I feel empowered with knowledge that I never know i needed :). So glad you offer this class I would be totally lost without it.


Natalie Galyon

Last class really showed what the class had learned and wanted to learn. The students asked for more details and that meant we were listening. I like that Scott said we could keep our classes and refer back to them because like someone else mentioned in the class there were times that I sat down for class paid attention then went back to the business of the holidays and didn't spend enough time on my homework. Scott is a good speaker and easy to follow along with. Thank you for the knowledge. Happy New Year!


Christy zsiros

If you are new to the world of working with CPAs, know that they are great and helpful people, but they can only give you guidance on the things they know. The land business is definitely an unknown to many people, so you can either pay your CPA for their time researching how to account for these transactions and hope they find the correct answer (the tax code is massive, just ask your CPA when's the last time they've read the entire thing) or you can invested in your education and know that you'll have the right answer.


TYLER aNLIKER

Great class!! Scott did a great job keeping my attention in what I would normally consider a very dry subject. Learned a lot of perks that I would've never known existed without taking the class. I do wish he would have spent a little more time with a few different transactions in Xero.


Michael Courcelle

Very good course. Lots of information!


Duncan mccleskey

The accounting class was definitely time well spent. I have so much more confidence that I'm setting up my bookkeeping in a way that's truly optimized for the land business and will save me time and money in the future. Also, appreciated the not so obvious deductible expenses. That alone was worth far more than the ticket of admission! 🙂


Angie McDonald

It is clear you like accounting and know it front and back. But for those like me that are less than fans of accounting it was great. The specific and concise information and examples were super helpful, almost, almost, like it could be likable stuff. The one section on section on deadbeat Dan and how to "unwind" and adjust the things were a bit tough to follow. Need to watch that section several more times.


Brett Peffer

This course provided a lot of useful information on a complex topic. I have an accounting background, but still learned quite a bit. The tax tips will save us a bundle! 🙂


heidi mogensen

Very helpful course and saves me quite a bit of time in research and having to monkey around in xero to find things. One question. Is there an accounting or legal reason why you pay the property taxes instead of forwarding the invoices to the terms buyer and having them pay the taxes directly to the county? Or is it that you want to make sure the taxes get paid and don't want to rely on the terms buyer to do it? Also one suggestion. It would be interesting and helpful to see what automation/zaps you have set up with xero, as I'm always looking for more ideas. Thanks.


gary wilson

Don't make the same mistake that I did unless you love the giving extra money to the IRS! Anyone that dreads accounting for their land business should take this course. Scott really broke down how accounting works for our business and explained the process in a manner that was easy to understand. I also found Xero to be much better than my current accounting software, and am switching to that SAAS. I am re-watching every class to be sure I absorb all the knowledge provided. The only negative for me is that I wish the course started few weeks earlier. I didn't know until the 4th class (just before year-end), when Scott explained some crucial details – that I had made a critical (yet simple) mistake which will end up costing me much more (on the tax return) than the cost of this course. Everyone that sells land and hates paying income taxes needs this information.


Tal Freibergs

As land investors, we all need to know our numbers. We also need to know how to get the most out of our business, and that means we need to know how to account for things the right way. Scott clearly and concisely cuts through the accounting jargon and tells you in plain English what needs to be done and guides you on exactly how to do it. You can waste time, money, and headache attempting to figure all of this out on your own or you can let this class give you the tools to quickly get the number side of your business up and running- the choice is yours. To me, this class is a no brainer if you value your time, your money, and want to know exactly how to run your business the right way.


Avery mcLean

Consistant with expectations from previous classes like Flight School. It has been worthwhile.


LaMar Bunts

I personally thought the class was awesome. I was fairly ignorant about accounting, and you were able to explain so even I could understand. I especially liked the part on dealing with the term sales. I believe after taking your class ,I can successfully set my business up and grow it. Thank You Scott!!


Alan Messmer

I thought the class was very beneficial and I am very glad that I took it. I am not sure how long or painful it might be if we didn't take this class but I imagine it would be significant? I really appreciated that it was broke out into five separate sessions. I can see some real value there just because it is just so much information and it would be too much all at once. I appreciate the value of the facebook group as well for questions as we move forward, so overall I just think it is an incredibly valuable class and very necessary quite frankly if you want to have things in order from the start. I really liked the flow and content of the class so thank you very much. Great job, thanks so much for putting it together!


Adrian Petrillo

This was incredibly valuable information. If a land investor had choose only one supplemental class to take, this would be the mandatory one. One suggestion for improvement: have a syllabus or outline of material covered in each session so we know what's coming up. It would also help for going back and using the recorded sessions. Thanks again


Patrice Anderson

I, surprisingly, really enjoyed this class. I'm very familiar with Quickbooks as I have used it as a bookkeeping software for my previous employer. I found Xero to be quite easy to use and actually prefer it to Quickbooks. I'm so thankful that you provided the opportunity for this learning experience because I'm not sure I would have been able to accurately keep books on our land acquisitions and sales. I think you did a great job by providing video as well as PDF's. I like to watch things first and then try to go back and read instructions and implement myself. The spreadsheet is PRICELESS! Thank you so much for providing this to us. That spreadsheet is worth the price of the class! 🙂 Chet and I have enjoyed learning from you in Flight School and now with the Accounting for Land Investors class. We both appreciate your attention to detail and cut-to-the-chase, no nonsense approach. Keep up the good work and thank you again for this wonderful learning opportunity!


Ashley Swartzentruber

This was an awesome class and accounting is one of those "necessary evils" (not meant in a negative way) that is required to run your business effectively and efficiently. Scott is an excellent instructor/coach and has a very good way to simplify, as best can be done, the complexities in accounting. My Thanks to Scott, and for anyone considering taking this course....JUST DO IT!


Jerry Jones

Scott Todd made Accounting for Land Investors clear and simple. The Balance Sheet setup was really pretty simple, and Scott showed the Balance Sheet's relationship to the Profit and Loss Statement with simple examples. I thought the best part of the course was Scott's examples of land purchases and sales, and the journal entries and statements necessary to account for them. I would certainly recommend the class to any serious land investor. The most important lessons related to how to set up owner-financed sales. These transactions require careful handling that meets IRS requirements and Scott made it very clear how to handle them. All-in-all, a very valuable course.


Ray Young

I found the class enjoyable and informative. Scott covered a lot of information in a short amount of time and gave us, and our CPAs, the knowledge and tools we need to conduct the financial end of this business with aplomb. Scott is an excellent teacher and great subject matter expert. I highly recommend taking this course before you go to far down the land buying rabbit hole.


Doug Hoyer

This class was extremely helpful! I am being really picky at this point but want to try to give something constructive... As difficult as it may be I think getting even more organized and covering ahead of time more of the common questions that came up will make this even better. But then again this is likely to be ever changing. Perhaps even more "Homework" type activities that create different example situations would be most helpful. You have been a great sherpa! I hope that I can put everything you have taught me to good use and create a business that can help me fulfill my dreams. I think I am about there but, I do have a bit of debt to fight my way out of. Thank you so much for everything and I look forward to meeting you one day at bootcamp.


Justin German

Even though the accounting transactions seemed overwhelming at first, once Scott explained the entries and proper allocation it all made sense. You need to have a firm grasp of how to account for the costs and profits of each property as each payment is made. This was broken down into step-by-step instructions that you could then practice on your own with the templates provided. Also, the closing tax tips were CRAZY AMAZING!!! Implementing those into my business alone will more than pay for this course. Thanks Scott for taking the time to teach us how to accurately and efficiently run our business!


Jen Ramquist

Great course - lots of valuable info. Only 1 complaint - I wish this course was released in January-February instead of mid-March. I am scrambling to get this all done before Tax Day.


Jim

Lots of Good and Need to know Land Investing Accounting information. Don't know where one would have sought out the information Scott imparted. Disclaimer, Understand Double-entry accounting principles for the full benefit of this class. Thank you Scott


Tam Eden

enjoyed the course. Would have liked more time in xero to get more comfortable with you available for guidance in real time.


joseph chiarello

My wife and I debated about whether or not purchase this class, since we already watched some of the accounting course videos on Investor Ninja. We are very pleased with the decision to sign up for the course. Scott gave us extremely helpful information that was clear and easy to follow. We highly recommend this class.


Cody Cuvillier

Great Class. Scott, as you know, I am a CPA. This is the second time I have taken this class. While I know the basic concepts, it is always valuable to see how other accountants set up their bookkeeping. This year, this class gave me some new ideas on how I want to track my business and I am currently working to implement those changes. Thank you.


Mark Livingston

If I had to choose one word to describe this class it would be "thorough". You are shown how to set up your books, walked through some typical transactions and even some common tax issues that land investors encounter. I wish I had found this class when I started selling land, as it would have saved me a lot of time and frustration. Thank you for all of the effort you put into this class it has really been a huge help to me!


Sarah pearson

Class was full of good information even for newbies like me. I’ve already listened to the sessions more than once because accounting at 7 am (PT) was a little rough on Sat mornings! :). I’m glad I can return to the recordings as I get into different phases of the process to review what I’m supposed to do. It would be nice to be able to download them to go vs stream. Great job overall!

PS: Could it be expanded fir accounting for other business expenses than just the land. Other tax write-offs, like lunch, entertainment, home office, etc.


Caron Hardy

There is an incredible amount of information in this course. I hesitated a year in taking this class as I didn't have the money in the business starting up. That was a big mistake. I am now going through a painful migration between accounting systems to put in place the installment method. Lesson learned upfront investment in education would have saved a lot of effort now. I would definitely recommend this class to anyone who does not have accounting figured out. This course spells it out really well.


James Wollmer

Excellent! Presents a tough, complex topic in a very straightforward, step-by-step manner. The 5 weekly sessions allowed time between sessions to digest and review material. I re-watched each episode at least twice and picked up something more with each viewing. Thanks!


Sonny holbrook

It was very informative and good to know something out there other than quickbooks that is more geared toward land investing. I took accounting in college and was never good at it and will probably have someone do it for me. Will I be able to find a CPA and Bookkeeper that knows Xero?


Walter Jones

Scott Todd's accounting class is essential to understanding how to properly run a land investing business. He lays out the big picture as well as all the details needed for those doing their own accounting. The small fee to take the class is nothing compared to the cost of making mistakes down the road and wasting time. The tactics and tax tips should save every land investor thousands.


Brian

I really enjoyed the class, I started out with the tool kit, then this accounting for land investors class and I am currently enrolled in Flight School. I feel this class has set me up well for future land purchases and will curb many mistakes I would have had learned the hard way without the class. Understanding the fundamental of accounting for land investing is a must for anyone who want a successful business. It accelerates you forward as a business owner and Scott Todd's tax tips are wicked smart and worth the price of enrollment!


Troy Smith

This class was awesome. There's a ton of material and information that will make things so much easier for tax season and getting straight with the IRS. My taxes are a mess because I never followed a system like Scott teaches


Paul do campo

The class provided critical information for getting the most out of your business. One takeaway - If you don't set up accounting right in the beginning, you will end up with a large tax bill at the end of the year. Then you will go back and rework all your accounting to show that you didn't really receive all that money yet (especially with terms sales). It will be a lot more work and very confusing to figure out... or you can just take the class and do it right the first time. Invaluable information if you intend to continue in this business. Thanks Scott for this and all the other instructions you provided!!!


Stephanie Naquin

I found this class to be very illuminating. I'm so glad I took it early in my endeavor as a land investor because it's clearly going to help keep me organized from the start. Accounting is not going to be an area of strength for me so having the Excel worksheets, knowing how to navigate an accounting website, and having some understanding of the vocabulary will be incredibly useful! I'm so grateful that Scott offers this!


Teresa M Lind

This accounting class is amazingly thorough, organized, detailed, and custom-tailored to our business. Sooooo much information, so many specific examples and instructions which Scott presents very patiently. I only wish Christmas and New Year hadn't been smack in the middle of the course so we would have had more time to practice, integrate and digest all the data. Still, great class. We will definitely review all the videos and practice, practice, practice. Thank you Scott. Five stars!!!


Tom & Arlette Conway

Thank you, Scott. This class was very helpful and well worth the investment. I had previously hired a bookkeeper to take care of this and I didn't really understand most of it, and now I think I at least understand the basics and can process transactions on my own. In the spirit of Kaizen, here's a couple of things that you might consider for the future: 1) I am an engineer by training and good with numbers, but I have no prior experience with accounting in any business, let alone land. The first couple of sessions were a bit overwhelming because I lacked basic accounting knowledge. It might be helpful to add one more session up front, or maybe provide a pre-recorded high-level "accounting 101", or identify some other generic/non-land pre-requisite that students can review before the first session so we can come to the first class and at least know what a balance sheet is, and basic concepts like assets, liabilities, etc. 2) The spreadsheet you provide is helpful when entering manual journals, but it could be slightly modified to include a more complete step-by-step instruction for each transaction type. I rewatched the recorded sessions to come up with my own version at the following link. Feel free to copy and modify for your own use. https://docs.google.com/spreadsheets/d/1TFtWPnWg0px9jR4dnCnblHgDkkVGPg-WELyubndnanM/edit?usp=sharing


Jim Mellentine

Tremendous value. Complicated topics were explained in a way that is easy to understand. The most applicable and engaging accounting class I've ever taken.


David

This was a refresher class for me and I'm so thankful for Scott's course. I highly recommend it. Scott has simplified the process and streamlined how to account for installment sales, as well as other aspects of tracking the business. If your new to the business please do yourself a favor and take this course as soon as you can. It's totally worth it! Thanks again Scott.


Marilyn

Everything he teaches is spot on, and even when I meet with my accountant, he thinks i'm well educated in the subject on accounting for our specific situations. The bonus is, I'm able to keep up with my accounting and never behind on what's going on! Would definitely recommend to everyone who is in the land business!


Greg Metevelis

Extremely useful course, easy to follow (and IMPLEMENT) material. This class does a great job of taking a complex subject and paring it down for the average joe. I highly recommend this course to anyone in the land business -- from beginners to veteran land investors! Best money I could have spent on accounting for my business. This course will more than pay for itself, for years to come!


Cole Sonner

Thank You Scott Todd! I am really glad I took this class. I have already learned than I need to be educated in order to have a productive conversation with my CPA and I need to be prepared before these meetings! He provided some golden nuggets which we can use in our business. I am just starting the Land Journey and I have so much to learn! I like to learn from THE BEST though!!! Scott is an excellent TEACHER ! Barbara


Barbara Kowalewski

It was a lot of material, but presented well and simplified otherwise complex concepts. I do think more material would be necessary on reconciling with automatic bank feeds and how that works alongside manual entries. I can see getting a lot of that wrong in the real world, so more examples in that area (and how to troubleshoot) would be very helpful. Thanks for a great course!


Ray Seaman

Scott, This class was very helpful. I like how you have it set up. I think splitting it across multiple weeks is definitely the way to go rather than cram it all into one day. You may think about creating the links for questions between each class rather than just the last one so that as people are doing the exercises they can submit questions while they are top of mind. You have obviously spent a good deal of time creating this class. I appreciate it. Thanks. Matthew


Matthew DIckson

This is information I would not have gotten elsewhere unless I wanted to take a full accounting class which would have had too much irrelevant information. Scott lays out the essential steps needed to document cash and terms sales and keep the books balanced. It's easy to see that a lot of time and effort went into preparing this information for us. It is easily worth the price of admission. Now I need to go rent my house from myself for a business retreat. Thanks, Scott!


Dennis mason

I am kicking myself for not signing up for this course sooner! I've put this off for 18 months before taking it. Another way to put it... "I've been losing money for 18 months by not taking this course." All the tips and tools that were taught here have shown me what I was doing wrong, and enabled me to correct this in the future and retain more earnings and profit from my business. In addition, this course has empowered me to actually have an intelligent conversation with my CPA. Another reason to take sooner rather than later... I'm spending time backing out of my old system (bad habits) to implement the new system when I could be selling more land. The sooner you implement, the better off your company will be! Thanks Scott for your well thought out training!


S.L. Ruble

I think the bulk of the class was a promotion for Xero. I got good information out of Scotts teaching points yet would not pay for another web app to help do another part of the business. There are so many already I will stick to my spreadsheet for now.


Christy Zsiros

This was my first accounting class... EVER. Needless to say there was a lot of new information for me. How would you make a Saturday class better on such a brain draining topic? In addition to going step by step on live video with each transaction, I would create screen shots of Xero and include that on the powerpoint. I would use as my model the Visual Teaching computer books like : https://www.amazon.com/Teach-Yourself-VISUALLY-Office-2016/dp/1119074770 That way when the training is done accounting morons like myself could refer to this ppt. Additionally, After converting to Video I would put in a timeline of topics with approximate minute location as a episode notes file. Example Terms transaction 1:30 Cash Transaction 8:30 Setting up tracking code 12:00 Thank you so much for this class. Now it's time for me to continue with the implementation! -MIke


Mike Robinson

This was my second time and I'd pay for it again. You do a great job Scott! Very helpful even for accountants. 🙂


Amy Breazeale