All Forum Posts by: Scott K.

 While what I say does not sound true it really is. When the first personal computers were invented I wanted to go with the IBM version format that is Microsoft, today, but a friend talked me into going with a Commodore computer that ran its own version of software. I had already purchased an Atari 800 computer for $2500, then a Commodore for about $10,000 with an external hard drive and a Compaq portable computer for about $3500 that weighed about 35 pounds and was the size of a sewing machine in entirely covered with a plastic case. I paid more than $20,000 trying to find software I liked for my business. In those days, most people like myself purchased software and had to be software developers and we had to create our own applications. Some of the software I purchased was almost $10,000 and it had so many flaws and bugs the software would not work properly and had to be scrapped. That is why I consider myself to be a fairly good software developed today and can do very well with MS Access even though I should be only a real estate developer and plumbing, heating and construction contractor.

Later, I purchased the IBM, or Microsoft version and did fairly well for several years with Intuit's Quicken. To do my payroll with Quicken I had to pay $99 every year for tax tables that were uploaded to the computer. Then, Intuit increased the price to $125 per year and then Intuit stopped selling the tables and forced everyone to switch to Quickbooks.

I had no problem with trying to switch to Quickbooks and I purchased the full version three times for about $500 each time and literally threw the software in the trash because it asked too many questions during the setup, was cumbersome and difficult to use, was so complicated it left room for making too many errors, had too many whistles and bells to deal with and there three things that make me hate Quickbooks with a passion and they are:

1) it is web based and super slow when changing screens, 

2) the software has so many screens to enter information on it is difficult to know whether or not information you enter goes to where it was supposed to go e.g. you may accidentally type in a wrong number, or you may enter data as a debint when it should be a credit and

3) Intuit is greedy and found that they could charge $109 per month for the software and the tax tables and that comes out to $1308.00 every year, or $13,080 every 10 years compared to the $99 or $990 every 10 years I was paying for Quicken that was simple to setup and use, but it still had some file storage problems that were fairly frustrating to deal with.

I had a major IRS audit about 10 years ago and it was the first major audit I dealt with for several real estate properties in California, Idaho, Las Vegas and Colorado. I did the accounting and bookkeeping for California and Las Vegas and my older son did the bookkeeping for Colorado and Idaho. I moved all the books from my son's records and my CPA's records to software I created with MS Access 2003. My software does not require any setup and every person can be trained to use it in less than 5 minutes. My son always argued with me and said Quickbooks was better, but when I compiled my records from my son and CPA I found that My CPA had made several mistakes with Quickbooks and was about $60,000 off and my son made less mistakes but if I remember correctly I think he was $30,000 off (can't remember). The records with my software were accurate-to-the-penny and I never ever found a mistake (not a lie) and I can prove and back up what I say. The reason my software is so accurate is because I created it with a system that matches with the exact total on all my bank statements and it is impossible to make a mistake when you only need to match the totals with the front page of every bank statement before sending paper records and Excel files to a CPA. 

I hate software that tries to integrate too many features into it. I don't like software that integrates multiple properties and multiple checking accounts at the same time. The nice thing about my software is it is free and takes less than one minute to create a copy. Then, I use a separate software application for each property I own and when I send my CPA my records for each property I don't have to worry about my CPA's ability to do what he needs to do to separate my tax records. My ex-wife was a 10% partner for some of my properties and when I bought her out in 2020 there were some serious tax issues that had to be resolved and it was difficult to come up with the price I paid her plus monthly payments for the rest of her life, but having separate software applications for each of the properties she was a partner for made sending her attorney records simple, accurate, organized and fast.

You can see how my software works and get free copies by going to youtube and searceh blprei checking account and for other software search blprei real estate, or blprei multi-unit. For people interested in trading stocks and options I made a training software about 20 years ago that teaches about 49 or 52 stock and option trading strategies, but if you dig into the software and read all the explanations for trading you should realize that everyone who touts trading stock and/or options should be shot and you should stay totally away from both the stock and option markets with the exception that I keep about a million dollars in a trading account and if you look at the history of the stock market we have what I call a Crisis Day an average of every 2 years. In March 2020, when COVID hit I purchased $10 stocks with a good value of $10 for $2.00 and made about 400% on my money in less than 1 year and that is the only way I would trade stocks and that is what Warren Buffet does. Otherwise, my money sits on the sideline in my trading account and if I find a property to purchase I have the money available, plus I have a large line of credit that costs me only $85 per year if I don't use any of the available funds, just like a credit card.