Using CPA’s and Attorney’s out of your area

Member since 2020 · 9 posts · 3 votes

I thinks it's a good idea to find a CPA and Attorney for your REI business that also invests in real estate. How many of you use an Attorney or CPA that are not local to you?

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Lance LvovskyPro Member

Accountant · Fort Lauderdale, FL · Member since 2013 · 1k+ posts · 753 votes

@Anthony Hofgren

It comes down to preference. I would say about 50% of my clients are in the south florida area. The other 50% - all over the country and world. I am hired by many investors from all parts of the country and world and we work together just fine. For example, with Webex, I can share my screen and review tax and legal documents with clients, etc. very interactive. However, you must do what makes you comfortable and that may not necessarily match what others are doing.

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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
6y
Anthony,

I recommend finding an accountant who specializes in real estate taxation over one that is local.

Are you comfortable working with your CPA remotely? If so, there are 20+ accountants on this site that specialize in real estate taxation.

Check the forums, reach out to a few and see who you connect with.

Good luck and let me know if you have any questions.
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Michael PlaksPro Member
Tax Accountant / Enrolled Agent · Houston, TX · Member since 2014 · 5k+ posts · 6k+ votes
6y
Originally posted by @Anthony Hofgren:
I thinks it's a good idea to find a CPA and Attorney for your REI business that also invests in real estate. How many of you use an Attorney or CPA that are not local to you?

Your accountant can be anywhere. There're 20+ REI specialists accountants on this forum, and most if not all of us work nationwide. Your attorney is better be local (or at least office in the same state) because laws are state-specific, and he needs to be licensed in your state. If you invest out of state or in multiple states, it gets more complicated.
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Lance LvovskyPro Member
Accountant · Fort Lauderdale, FL · Member since 2013 · 1k+ posts · 753 votes
6y
@Anthony Hofgren
It comes down to preference. I would say about 50% of my clients are in the south florida area. The other 50% - all over the country and world. I am hired by many investors from all parts of the country and world and we work together just fine. For example, with Webex, I can share my screen and review tax and legal documents with clients, etc. very interactive. However, you must do what makes you comfortable and that may not necessarily match what others are doing.
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Anthony Hofgren
OP
Member since 2020 · 9 posts · 3 votes
6y
@Lance Lvovsky
Thank you for your input.
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Sean Morrison
Attorney · Slidell, LA · Member since 2016 · 322 posts · 179 votes
6y
For attorneys, it depends on the type of work they're doing. I work with clients all over on things like syndications, securities, asset protection plans, etc. But you will also need a local attorney for real estate closings, local zoning, and anything that requires a state-specific need. So if you're investing in multiple states, expect multiple attorneys.
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