Hello everyone. I am new to real estate investment here in the Denver area and working on filling out my team. I am interested in setting up an LLC and wondering if there are any recommendations for good attorneys with other real estate clients? I will also need an accountant so any recommendations for that would also be much appreciated. Thanks.
Thanks for the shout out, @James Carlson! James is absolutely correct - actually filing Articles of Organization with the Colorado Secretary of State to set up a new LLC is super easy. My clients typically set up the LLC themselves. Where an attorney should be involved, however, is in the drafting of the Operating Agreement for the LLC. @Linda Weygant is fabulous!
@Brandon Pope Great idea to start building your team. I can send you a great attorney contact for getting an LLC started and @Linda Weygant comes highly recommended for a CPA - she does amazing work for me and my business!! I'm making an assumption here, but she could probably help you with your LLC as well.
Are you open to working with your accountant remotely? I recommend finding an accountant who specializes in real estate taxation over one that is local. You may want to consider working with your accountant remotely to expand your options.
I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return. You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.
Good luck and let me know if you have any questions.
Congrats on getting started investing in Denver. We use @Linda Weygant for our taxes. She's great but also slammed and normally works with investors who have a couple under their belt.
We've also worked on numerous legal items with @Drew Fein. Though Drew will hate me for saying this, but setting up an LLC is not difficult. You can do it directly through the Colorado Secretary of State's office. We've set up numerous LLCs for properties and other businesses, so you can totally do it. Whether you (or we) can do it correctly, who knows. Drew may have some thoughts on that.)
Thanks for the shout out, @James Carlson! James is absolutely correct - actually filing Articles of Organization with the Colorado Secretary of State to set up a new LLC is super easy. My clients typically set up the LLC themselves. Where an attorney should be involved, however, is in the drafting of the Operating Agreement for the LLC. @Linda Weygant is fabulous!
Andy Meyer with Frascona in Boulder has been wonderful to work with. I'm currently searching for a CPA so I can't help much there, but I know Andy's real estate expertise has been very helpful for me.