I will keep this short and sweet if possible.
Thanks to BiggerPockets I got back into real estate sales a couple years ago and finally bought my first "house hack" on a single family home by developing a relationship with a mentor/partner. While I am growing my sales business now, in the long run I could see my focus shift more towards investments and being an investor-friendly agent.
Since I've made solid connections, educated myself and bought my first property I really feel like I got the boulder moving and am excited to see what the future holds.
My focus now is buying multi-families in Somerset County and other nearby counties. In order to do so I will need to continue partnering with this mentor or other new people.
What I need:
1.) An attorney who could help me draft an operating agreement for my current partnership and future partnerships.
2.) A real-estate savvy CPA who could advise and assist me on the tax-side of things. Now only owning one property my taxes should be relatively simple but I want to make sure I set myself up in the best way possible now before I own a real estate empire :)
Any recommendations are greatly appreciated! For any newbies who might be trying to figure out how to get started in NJ (or anywhere for that matter), I would be happy to tell you more details about my journey thus far! Just DM me and I will try share whatever knowledge I've gained along the way.
Hey @Gregory Fazio ,
I used Bob McNally in Somerville all the time - he is one of the partners there. I dont think we are supposed to give out info on the fourms but feel free to PM me. He is who I also use for my real estate and personal business.
Unfortunately, I am looking for a great CPA as well, I use a guy up in Basking Ridge right now, but plan to switch probably after next year. That being said, I would seek a Tax Strategist, someone who can help you on a plan to shelter money from taxes. I recently found two in an article I read. I plan to reach out to them both as that is what I am looking to do moving forward, again probably next year for me personally.
Hope this helps, best of luck, Im in Somerset as well
@Gregory Fazio As far as a CPA goes, I’m in the same boat as you. A good CPA from what I understand doesn’t really need to be state specific and a lot of real estate investor friendly CPAs will do work in any state because it’s more important on the federal level, states just have smaller deviation (again, from what I understand)... That being said, try giving a listen to “Real Estate Hackers” pod case Episode 3 Hosted by Slatehouse a relatively local PM company and present on BP. The interview is with A real estate focused CPA out of Freehold (not super local but worth looking into. Best luck!