If you were an accountant, how would you setup your REI portfolio

3 Replies

I am planning on investing in out of state appreciating markets (San Antonio). I am looking at multifamily value add opportunities.

I have not setup any sort of business accounts or tax advantaged systems. I am looking for the layman’s version for setting this up, because I’m not yet at a place where I can afford an accountant. But at the same time, I believe there are steps that I can take now to set my foundation up for success now and in the future when I scale my operations.

I am not knowledgeable on taxes or setting up business accounts, so I apologize in advance if my question seems misguided or insufficient with information.

Thank you in advance.

@Matthew Metros

Well, that is certainly a wide open question.  Let me give you some reading  :)

https://www.biggerpockets.com/...

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If you'd just rather chat, feel free to send me a direct message.  I'd be happy to chat about this.

It sounds like before you go out of state and complicate things even more, try to do something locally. Do a flip in your area. Maybe do a brrrr in your area. See if you even like real estate. See if you can make some money.

You dont need llc or corporate accounts to do real estate. Just do something. After you have tried it out and made some money, then talk with an accountant and an attorney and set up your corporate structure. Do not try to set things up for yourself.