Attorney, realtor, lender and cpa all in one place?
Member since 2024 · 2 posts · 2 votes
Attorney, realtor, lender and cpa all in one place?
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@Laura Dagenais That's kinda lot to put into one company. Licensure, insurance, business lines, etc would be all mashed together. Maybe some sort of "white glove" organization exists, but doubtful.
Also, it would be better to split it up for sourcing issues, just like hiring trades instead of general contractors.
For example, it took me two years to find my agent. My "problem" is that I've outlived multiple good attorneys --- unfortunately, those are the good ones. I've always done my own bookkeeping. over 20yrs prepared and file my own returns, but financials became more complicated so I had to turn to an accounting firm. I went with a large 400+ person firm that can cover anything.
Either way, the chances of one or two people having all those licenses/capabilities is pretty rare. So, you'll be working with separate people anyway. Lets face it, in most cases one doesn't care about the other. No one should "care" what the realtor is doing --- it doesn't affect your accounting or legal matter. Sure, what you do will affect those latter two, but nothing about the realtor.
Perhaps with in your setup the lawyer and accountant may need to confer, but the accountant will prepare the return according to whatever income/expenses you provide and whatever legal structure your lawyer puts together for you. Also, I've of the camp that LLC's and expecially anonymity in many situations is overrated...
And, if you are investing in FL, then you'll need realtor licensed in FL. Your attorney, for your legal structure, will need to be FL and perhaps MA (so two attorneys anyway). Since FL doesn't have an income tax, go with a MA accountant. Although, that doesn't always really matter too much, for example, my accountant can all 50 states.
Hope that helps some. Happy to chat. Good luck.
4 Replies
- 2yLien VuongBusiness MemberReal Estate Agent · Boston, MA · Member since 2018 · 2k+ posts · 1k+ votes
No as they all require different licenses and very different areas of expertise. Typically they work alongside with one another and have mutual connections but where the interest of the clients are far and wide, it is very difficult to have an agency that services all of those needs under one house.
The Elle Group5152 Reviews @Laura Dagenais That's kinda lot to put into one company. Licensure, insurance, business lines, etc would be all mashed together. Maybe some sort of "white glove" organization exists, but doubtful.
Also, it would be better to split it up for sourcing issues, just like hiring trades instead of general contractors.
For example, it took me two years to find my agent. My "problem" is that I've outlived multiple good attorneys --- unfortunately, those are the good ones. I've always done my own bookkeeping. over 20yrs prepared and file my own returns, but financials became more complicated so I had to turn to an accounting firm. I went with a large 400+ person firm that can cover anything.
Either way, the chances of one or two people having all those licenses/capabilities is pretty rare. So, you'll be working with separate people anyway. Lets face it, in most cases one doesn't care about the other. No one should "care" what the realtor is doing --- it doesn't affect your accounting or legal matter. Sure, what you do will affect those latter two, but nothing about the realtor.
Perhaps with in your setup the lawyer and accountant may need to confer, but the accountant will prepare the return according to whatever income/expenses you provide and whatever legal structure your lawyer puts together for you. Also, I've of the camp that LLC's and expecially anonymity in many situations is overrated...
And, if you are investing in FL, then you'll need realtor licensed in FL. Your attorney, for your legal structure, will need to be FL and perhaps MA (so two attorneys anyway). Since FL doesn't have an income tax, go with a MA accountant. Although, that doesn't always really matter too much, for example, my accountant can all 50 states.
Hope that helps some. Happy to chat. Good luck.
- 2yTyler GibsonBusiness MemberReal Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes
Quote from @Laura Dagenais:
I reside in Massachusetts and my boyfriend and I want to purchase a vacation home in a specific resort in Davenport FL. Our primary goal is to have a long term investment that pays for itself (or at least offsets the cost) over time through short term rentals like air bnb. We want to protect our individual personal assets and maintain anonymity as much as possible. We are looking for a firm that is familiar with multi state partnerships that can give us legal advice or set up our business correctly from the start.
Is there such a thing as an all inclusive agency that handles all of the legal and accounting and licensing for you in one place or do we need to hire a lawyer, accountant, realtor and broker individually? Should they all be located in Florida or Massachusetts?
Any guidance is appreciated!
You're unlikely to find one person or company that offers all of these services. However, if you connect with the right real estate agent in the market where you're looking to invest, they can probably get you connected to all of the individuals that you need in that local marketplace.
- Investor · Minneapolis · Member since 2023 · 265 posts · 162 votes2y
If you're interested, I have a partner network for STR investors that includes those specialties. Happy to connect you.
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