Looking for a REI friendly CPA in Minnesota

Minneapolis, Minnesota
General Real Estate Investing
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Looking for a REI friendly CPA in Minnesota

Brian Binkley
Member since 2025 · 13 posts · 13 votes

First, I apologize if I didn't post this in the right sub-forum, I didn't see a better fit.

I searched the forums already and found a few older posts that fizzled out results for me. I'm hoping to be closing on Monday on my first investment property. I was already going to be looking for a new CPA and now I'm feeling a little pressure that we really need to find a REI friendly CPA with this upcoming purchase.

I saw the name John W. Woodrich get recommended, but I wasn't able to successfully reach him.  Any other recommendations of CPAs in the Twin Cities?  Bonus points if they are located in the west metro.  I'm sure everything can and will be done electronically, but I also like the idea of being able to meet in-person if needed. 

Thanks,
Brian

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Bill HamptonBusiness Member
Accredited Investment Fiduciary, AIF®, Financial Planner, Tax Strategist, Real Estate Investor · Atlanta, GA · Member since 2012 · 2k+ posts · 978 votes
9mo

@Brian Binkley

I recommend finding a tax strategist/tax accountant who specializes in real estate taxation and is proactive instead of reactive when providing advice.

Working remotely with your accountant will expand your options.  

I would also recommend looking for an accountant willing to work with you throughout the year. You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.

Happy to answer any questions. Good luck.

404-482-3170
Hampton Tax and Financial Services LLC4.7106 Reviews
WebsiteView Page
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  • Aaron ZimmermanBusiness Member
    Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
    9mo

    Brian - I'd definitely focus on someone being real estate focused vs being local and not real estate focused. I'd recommend asking local facebook groups as well for recommendations.

    theres a lot of great CPAs on here that are re focused but not local

    [email protected]
    Brick House CPAs53 Reviews
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  • Tim SwierczekPro Member
    Lender · White Bear Township, MN · Member since 2016 · 1k+ posts · 1k+ votes
    9mo

    @Brian Binkley @John Woodrich is great, but he hasn't taken on a new client in about 5 years. I agree with @Aaron Zimmerman location should be a low priority for this search. I can't imagine that any CPA you choose will meet with you in person anyway. The only ones meeting in person anymore are the large firms that charge $1,000/hour for advice and planning. They need to justify their fees and give your courside Wolves tickets. All the others are virtual now, including Woodrich and the other good ones I know that are not accepting new clients. 

    Seventy percent of my clients are investors, and I've been looking for someone to refer for about 2 years, but I can't come up with anyone who is responsive. I have interviewed several, and they all seem too busy.

    0Reply
  • Brian Binkley
    OP
    Member since 2025 · 13 posts · 13 votes
    9mo

    Thanks @Tim Swierczek - disappointing to hear that there's not many taking new clients.  Good for them I guess?  

    My desire for local comes more from being old school where I like to be able to establish a personal connection, but you raise all great points.  

    So with that, anyone have referrals of a CPA, regardless of location.  :-)  

    2Reply
  • Bill HamptonBusiness Member
    Accredited Investment Fiduciary, AIF®, Financial Planner, Tax Strategist, Real Estate Investor · Atlanta, GA · Member since 2012 · 2k+ posts · 978 votes
    9mo

    @Brian Binkley

    I recommend finding a tax strategist/tax accountant who specializes in real estate taxation and is proactive instead of reactive when providing advice.

    Working remotely with your accountant will expand your options.  

    I would also recommend looking for an accountant willing to work with you throughout the year. You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.

    Happy to answer any questions. Good luck.

    404-482-3170
    Hampton Tax and Financial Services LLC4.7106 Reviews
    WebsiteView Page
    1Reply
  • Fulton Abraham Sanchez
    CPA| New Clients Welcome| 50 States · Member since 2016 · 440 posts · 94 votes
    9mo

    @Brian Binkley, hi. Congrats on the upcoming closing, don't panic about finding the perfect REI CPA before Monday. Focus on capturing key info now (closing packet/settlement statement, invoices for repairs/improvements), start clean bookkeeping with a separate rental bank/card, and track the placed-in-service date and any personal use. For CPA recommendations, ask in local MN investor meetups/REIA groups and Twin Cities BP/FB communities for currently responsive names, then vet them on year-round planning, depreciation/cost seg familiarity, and ability to handle MN plus multi-state rentals if you expand. Location is not longer an issue as most CPAs work remotely with clients across multiple states.

    0Reply
  • Daniel Anshus
    Realtor · Bloomington MN (bloomington, mn) · Member since 2016 · 451 posts · 263 votes
    9mo

    Hey Brian send me a message and I can connect you with some good contacts.

    0Reply
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