Just starting my Real Estate Investment journey

Wholesaler · Omaha, NE · Member since 2021 · 2 posts · 2 votes

Hi, My name is Curtis from Omaha Ne. I'm just starting my investment journey and have not purchased my first property, yet. I'm in the process of starting my LLC. Would it be best to wait till I have my LLC registered before purchasing? Also, the agency I'm going with offers different options you can add on top of registering and licensing fees. Would it be wise to add their tax services or search for a tax consultant more familiar with real estate investment? Thank you.

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Marc Starkman

Pittsburgh · Member since 2020 · 20 posts · 9 votes

@Curtis Bedford On your first deal you don't really have to have a LLC, so I would say don't wait. But make sure to check with a professional.

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Marc Starkman
Pittsburgh · Member since 2020 · 20 posts · 9 votes
4y
@Curtis Bedford On your first deal you don't really have to have a LLC, so I would say don't wait. But make sure to check with a professional.
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Curtis Bedford
OP
Wholesaler · Omaha, NE · Member since 2021 · 2 posts · 2 votes
4y
@Marc Starkman Appreciate the reply. Will do, thanks!
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Owen DashnerPro Member
Lender · Omaha, NE · Member since 2008 · 1k+ posts · 1k+ votes
4y
It certainly wouldn't hurt to have your LLC setup and ready to go for when you are ready to use it. I would get referrals to local CPA's instead of using an add-on service from an agency. Make sure you join the Omaha REIA and Omaha Real Estate Meetup groups on Facebook. Both have monthly meetings and the REIA has a luncheon on Friday this week at the Tired Texan. Lots of knowledgeable investors and some newbies attend. See you around!
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Dennis Tierney
Investor · Omaha, NE · Member since 2011 · 475 posts · 211 votes
4y
Curtis, congratulations on starting your real estate journey. I would recommend you use a CPA that has real estate experience. It makes a difference. Interview several before picking. I also recommend you join MOPOA - Metropolitan Omaha Property Owners Association. It's a group of landlords whose mission is education of and advocacy for landlords. We have monthly meetings on the second Monday evening of the month at German American Society and breakfast at 7 am on the Saturday following at Farm House Cafe. The breakfast meeting is this Saturday.
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Basit SiddiqiBusiness Member
Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
4y
@Curtis Bedford

I would put your time and devotion into
1) Finding the area you want to invest in(narrow it down by zip code or neighborhood)
2) Connect with agents / realtors
3) Connect with experience investors in the area to provide you tips on the area
4) Property management company / contractor

After the above are done, then I would focus on the back-end professionals such as accountants, attorneys, LLC's, etc

Best of luck
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