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Updated over 5 years ago on . Most recent reply

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10
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Do need an accountant?

Victor Taflinger
Posted

I am retired Navy living and working Okinawa, Japan where I will probably stay the rest of my life. I am a resident of Washington State. I have a drivers license but no address to call home. I was born and raised in Fort Wayne, Indiana which is where I am investing.  

Within the last 9 months I bought three houses in Fort Wayne. Property management has house #1 under contract. #2 is waiting for potential renter (hopefully soon) and house #3 has just completed repairs and keys being turned over to property management this week.

So my question is should I get an accountant for my properties and if so should it be in Indiana or Washington State? Keep in mind I'm only going to cash flow about $1400 on all three properties.

Recommendations on accountant would be appreciated if answer is yes.

Thank you!

Vic

Most Popular Reply

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33
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Simeon Miller
  • Fort Wayne, IN
25
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33
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Simeon Miller
  • Fort Wayne, IN
Replied

@Victor Taflinger Than you for your service. I would recommend getting an accountant, one that specializes in real estate. It’s not as much about the $1400 that you made it’s about all the expenses you have that you can write off.

I am looking for one in my home state not my investing state. But that is mostly because I have other things going on as well.

@Simcha Davidman I believe that military personal maintain residency of their home state regardless of where they are stationed.

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