Multifamily Syndication Accountant/Bookkeeper

4 Replies

I am building my multifamily syndication team and I am looking for an experienced multifamily syndication accountant who can ALSO serve as my bookkeeper. My geographic focus is large Sunbelt metros, but I am physically located in Los Angeles, and my partners are in Washington DC. Does anyone have recommendations for accountants who also function as bookkeepers for syndication deals? Thank you!

I assume you will have third party property management so they will prepare the books every month. then you could get some investor management software that automate the calculation for investors. Some syndicators have their PM company cut and paycheck to them and their investors. So lets say for April 2020 after paying all the bills there is $108k left over. Lets so for argument sake is 80/20 split with no Pref and 2% Asset management fee. For argument say the Asset management fee is $8k that leaves $100k. So 80% of $100k that is $80k you advise the PM the ownership percentage. $20k goes to GP. If you need a CPA to do the tax return and K1 send me a message will give a talented firm. 

Originally posted by @Tim Mason :

I am building my multifamily syndication team and I am looking for an experienced multifamily syndication accountant who can ALSO serve as my bookkeeper. My geographic focus is large Sunbelt metros, but I am physically located in Los Angeles, and my partners are in Washington DC. Does anyone have recommendations for accountants who also function as bookkeepers for syndication deals? Thank you!

 I have a great CPA who I use to help manage 18 of my syndications, shoot me a message and I'll get an intro going 👍

@Tim Mason @Blake Dailey

Somethings to consider when picking your CPA.

Have you spoke to your investors on when they will receive their K-1's?
If you tell your investors that they will receive K-1's by March 15, you better make sure that you work with an accountant who will not miss that deadline.

Taxation for syndications can be complex - especially depending on the investor pool that you have.
Do you have foreign investors? if you do - foreign withholding may be required.
Are you dealing with investors who prefer composite filings? Composite filings provide relief for the investors to have to file in each state.
Do you have Exempt partners? If you do, you may need to provide details to them listing out their share of UBTI(Unrelated Business Taxable Income).