Any recommendations for CPA in San Antonio who is knowledgeable about passive multifamily real estate? I am investing in passive MF deals (apartments) and I need someone who knows how to maximize the tax benefits of these types of investments. Thanks in advance.
Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
5y
I use https://www.fredflorescpa.com/. He seems very knowledgeable about real estate investing in general. I interviewed a lot of CPAs here in San Antonio that didn't seem to have a clue about a lot of real estate related issues, but he was able to answer all my questions with relative ease. He also seems pretty low priced, for the quality of service. Full disclosure, this is the first year I used him, but so far so good.
Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
5y
I use https://www.fredflorescpa.com/. He seems very knowledgeable about real estate investing in general. I interviewed a lot of CPAs here in San Antonio that didn't seem to have a clue about a lot of real estate related issues, but he was able to answer all my questions with relative ease. He also seems pretty low priced, for the quality of service. Full disclosure, this is the first year I used him, but so far so good.
Are you investing in actual Multi-family real estate? Or are you investing into a syndication as a limited partner / non-managing member?
They are treated slightly different for tax purposes.
You are very fortunate to live in one of the few states that does not require a resident state income tax. This is good for you as this opens you up to being to find a CPA outside of your state. With that said, below are some tips on how to find a local CPA.
1) Attend a Local REIA / Real Estate meetup and see who other investors are using as a CPA 2) Network with other investors from your City/State that you find on bigger pockets and see who they use as a CPA 3) Look for CPA's with good google/yelp reviews where 'real estate' is mentioned in the review. 4) Verify that your CPA is licensed. Many 'tax professionals' lie that they are a CPA.