Does anyone have recommendations for a CPA that works with investors in the St. Louis/St. Charles area? I'm just starting out and in the process of setting up an LLC. I've already talked to a real estate attorney but would also like to work with a CPA going forward. Thanks.
Hi Sam -
Being in the St. Louis area is a gem because you have an option of many cash flowing properties.
Hopefully people chime into this post and are able to give you some recommendations.
However, i'd recommend the following if no one chimes in
1) add the words "St. Louis" & "St. Charles" to your keyword alert. Visit the posts with these keywords and notice who the frequent posters are. Network with them and ask them who they use as their CPA.
2) an alternative is to attend REIA's(which it seems like you are doing from your first post). Network with a fellow investor and ask them who they use for their CPA.
If you are still unable to find a quality CPA to meet your needs; you may need to broaden your search to look for someone who works remotely. I along with others on this website work with people remotely.
Did you have any tax questions?
Just an FYI - creating an LLC does not create access to additional tax savings that you wouldn't be able to achieve with owning real estate personally.
It seemed liked you had an interest in acquiring RE through wholesalers a couple months ago. Have you brought property from a wholesaler yet?
Thanks for the advice and recommendations.
I have been attending the local REIA's and have met several investors. I was going to ask at the next meeting if anyone had any suggestions.
I do realize that creating an LLC doesn't create any tax savings, I was more concerned with personal liability. I don't want to lose my own assets if someone decides to sue. I wanted to talk to a CPA to make sure I'm doing everything correctly with transferring cash, etc. to the LLC.
I haven't bought a property yet but I have an offer on an REO property. My finances will be changing in March 2018 which is when I plan on aggressively purchasing properties.
Thanks again for the advice.