I am looking for some general Tax Strategy/Planning help and a referral to a CPA that is good with real estate investing.
Our goals: To make sure we are taking full advantage of our current situation and not leaving money on the table and to build a relationship with someone that can help us understand the potential tax implications of moves we hope to make.
I have a W2 job with the military and will be eligible for the retirement pension in 3 years, but will probably stay in 5 and then hope to transition to REI full time.
My wife is a realtor with 3 years working part time, but starting to get closer to 3/4 time.
We have a 4Plex that brings in approx $50k in rental income and cashflows about $2k per month managed by a property manager in CO. We live in Colorado.
REI Goals: now-end of 2022: Purchase 2 x addl 4plex, 2023: buy 3 x 4plex, 2024 buy 3 x 4plex (max 10 mortgages), buy 8-12 unit apartment building. Currently looking in state, but considering out of state markets to get a better mix of properties between cash flow, appreciation, and balanced markets.
Any general advice or questions are welcomed and appreciated.
Any referrals to good CPAs willing to help us learn along the way as we build a long term relationship are great appreciated. Colorado preferred, willing to work with great CPAs living elsewhere if the know Colorado well.
Linda Weygant with Clue Business services is my CPA. She was a podcast guest a few years ago.
I use Long Law Group. They are good with real estate on the tax planning and CPA sides.
@Douglas Spence and @Natalie. Thank you, I will reach out to @Linda on Monday.
@Candice De Thanks! I will also reach out to Long Law Group, I ended up on their website a few days ago.
Also thanks to those who sent PMs.
@Russ McKelvey As of 6 months ago or so, she's only adding new clients via referrals from current clients, so make sure you let her know you were referred. I don't get a referral fee or anything like that, just giving you a heads up.