Real Estate Investor/Agent and Web Developer · Flower Mound, TX · Member since 2015 · 53 posts · 14 votes
I'm an soon to be investor doing initial education and network setup. My Investment strategies are Buy and Hold using cash and financing, and investing in Tax liens with a self directed IRA. I'm hoping someone has some recommendations for accountants and/or lawyers who are knowledgeable in real estate investment.
I'm also looking for recommendations for a Self Directed IRA Custodian/Company. I'm finding that comparing their fees are difficult and reading a lot Self Directed IRA companies making it a hassle for people to close their account or move money elsewhere.
Would greatly appreciate some hearty recommendations.
If you're looking for lawyers, you can't go wrong with Bryan Dunklin or Scott Horne, just depends on what you're looking for and what you need from them. Bryan is good for someone just starting out. He's been a broker and teaches real estate law, although I don't think he invests himself any more. I know he does litigation as well. Scott is one of the largest investors in Dallas, and he's incredibly knowledgable about all aspects of real estate, including creative financing. You can find either of them through Google.
welcome to BP and congratulating on getting started in REI!
Regarding SD IRA - consider Checkbook IRA, with this structure you are in control of your retirement moneys and don't have to go to the custodian to approve every transaction plus investment and transactions fees are eliminated. Or if you are self-employed Solo 401k would be the best choice for you.
With either of these options you gain checkbook control over your retirement account.
If you're looking for lawyers, you can't go wrong with Bryan Dunklin or Scott Horne, just depends on what you're looking for and what you need from them. Bryan is good for someone just starting out. He's been a broker and teaches real estate law, although I don't think he invests himself any more. I know he does litigation as well. Scott is one of the largest investors in Dallas, and he's incredibly knowledgable about all aspects of real estate, including creative financing. You can find either of them through Google.
Welcome to BP. I think you're off to a good start with looking to build out a network of advisors. I second the recommendation to check out the Solo 401k if you have self-employment activity.
I did end up contacting David Willis and Scott Horne through their websites, but then neither on replied. I did find two other Laywers that looked decent. One charged $300/hr and the other $350/hr for the type of general legal advice I was asking for. One RE investor friend said that sounded about right.
I need to make sure I invest my legal advice cash well and come prepared with just the right questions. Thanks for the recommendations everyone.