Originally I was hesitant to name the business after ourselves and also to call ourselves CEO and CFO. Di made a point that really resonated with me though. She said that she does not care if people think it is pretentious because she worked hard to get to this stage and she is proud of it. Well, so am I and I am proud of her. After all she is the Chief Financial Officer of a company.
Last night Di was filling out some tax paperwork (we are an S Corp and so there is additional stuff you need to file with the IRS in order to get the tax benefits of being an S Corp over a C corp) and Di had to list her name and title since she was the preparer. In all my life I do not think I will forget the image of "Dimalshi F Heid CFO" it looked so right.
So it has been one real day that I have had the title of CEO but in doing so I realize that it gives me a fine title to live up to. I am CEO so I better act like it. I took care of a bunch of stuff yesterday and will continue to learn in grow in my role and in my industry.
To answer the scoffers, yes we only own one duplex and just closed on it at that. But this is where things start and how things grow. Di and I are both well versed in banking in addition to business and so we have a plan in place to position ourselves perfectly in 5-10 years as business owners. We don't expect to have a free ride. We don't expect to be millionaires and we don't expect to grow a business right away out of nothing.
I would like to point out thought that our company is a property management company. Meaning as we grow and learn our roles we would be able to take on additional rental properties that we might not even own. For example, if you are buying a rental property in a few years and you don't really want to deal with it, we can step in and handle everything for you just like we do with our places. We will collect the rent for you and pay it out to you, manage the yard and snow. Setup utilities and even pay them for you if you so choose. Plus with a CFO who is literally just a test away from being a CPA I think we would be able to help you file your taxes that reflects your new rental income. Now that I am writing this all out, this is all very possible and exciting to me because we are putting ourselves in a place where we can handle all of that.
-Mitch Heid
CEO