Hello BP! I have my first duplex under contract in St. Paul, Minnesota. Can you please recommend a good local CPA that you use for tax planning? I want to have my all my ducks in a row at closing. I’d prefer someone who is also a landlord themselves. Thanks!
There are many ways to find a savvy CPA
1. Biggerpockets search function - Use the search function to see if a BP colleague requested a CPA in your area. This method allows you to reach out to the BP colleague and ask who they interviewed with, who they decided to go with and if they like working with their CPA. I went ahead and pulled up posts from BP colleagues who requested a CPA in your area.
2. Keyword Alerts - Add the keyword alerts "Minnesota" and/or "Minneapolis". You will notice that there are frequent members who respond to posts that have these keywords. Feel free to send a colleague request to these members to connect and see who they use as a CPA. Connecting with members who have the pro-membership have a higher tendency so be more serious and provide you a good recommendation.
3. Real Estate Networking Events - These events contain seasoned investors and would be more than happy to refer you to a CPA. You can find local networking events through the BP events section or meetup.com
4. Reach out to CPA who works with clients remotely - If you are still unable to find a local CPA that matches your needs. You may want to reach out to a CPA that works with clients remotely. I would argue that working with a remote CPA who has experience in real estate will likely be a better fit for you than a local CPA who is a Jack of all Trades. Technology has enabled communication with a remote CPA through phone calls, emails, skype etc. There are many CPA's on this site that work with clients remotely.
In the meantime - feel free to ask any tax related question. I would be more than happy to help give my opinion.
Good luck in your search!
Definitely @John Woodrich
@Account Closed Is the perfect choice for any investor. Not only does he know the tax code like a like a golf pro knows the dimples on a ball he also is a successful investor himself. The best thing I like about working with John is that he understands there is a balance between saving on taxes and retaining cash for more deals. I think you would be doing yourself a disservice if you don't contact John.
Thank you all for the recommendations! I reached out to @John Woodrich and he was a very knowledgeable and friendly CPA.
If you are not impressed, you cannot go wrong with Ballenthin, Funk, & Johnson. Jeff Ballenthin focuses on real estate specifically, works with large and small investors, and is a landlord. Best.
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