Rental Property Investor · Salem, OR · Member since 2020 · 33 posts · 19 votes
Hey BP Community!
I am still on the hunt for my first property and while I wait, I am setting up my team.
So, I would love to get some personal recommendations from the community. I have spoken to one attorney so far and he was great. But I am looking to interview a few and see which one offers the best services for what I am trying to accomplish.
I also need a CPA. I don't need one for accounting, mostly he or she would be for tax planning and preparation. If you have any recommendations I would greatly appreciate it.
I am located in the Salem area so any recommendations around here would be sweet but not required.
For your first property you can track the revenue with Stessa. It will keep track of everything so you can take it to your accountant at tax season and get it done. That is really all you need for taxes.
If you're still looking for a deal I'd recommend finding a high output realtor, a good property manager and get pre approved with a lendor. They will find the deal, get you financed and get a tenant in place.
I already have a realtor and lender. Just waiting to find a property that works!
I do not have a property manager. I’ll be house hacking so I’ll do management myself for the first little bit.
I totally understand that for just having someone file taxes, it can wait until tax season. I plan to use tenant cloud which can record everything an accountant will need. Along with being able to produce reports for them. At the moment I want to just chat with a CPA about structuring everything for the best tax benefits.
I’m always looking for recommendations. I see that you’re just north of me. Do you have any Property management companies that you recommend?
That's awesome prep work. It will definitely make everything easier in the long run.
Unfortunately not. I am an active wholesaler in this market but all of my buy and hold investments are out of state. A quick google search can get you quite a few different names to qualify though, I'd start there.