Checklist for accounting and legal affairs to have in order?
Whats up BP!
To begin, I am a soon to be real estate investor with enough of a nest egg to begin my first deal here shortly. I have been obsessing lately over books, podcasts, webinars, etc and am starting to put the pieces in place to begin my first fix and flip deal. One thing I am also fascinated with and want to implement into my own business is a set of unique systems to make the most efficient, profitable, and successful business I can. The E-Myth really got my brain churning on this topic and now I have a few questions for some investors involving their systems and their teams!
Firstly, every bit of material I have read/listened to/watched has made it clear that extremely important members of my team will be the lawyers and other legal team members. I intend to protect my properties under an LLC and take the necessary steps to ensure myself and my company are set up correctly. My question here is who are the necessary people to get in contact with, what do I need to set up to have a strong foundation for myself and my business, and how can I get the most out of these legal team members (How do I use them to benefit us both?)
Next, when it comes to accounting and book keeping I have a similar question to the one above! What qualities do I look for in a great CPA, what do I need to set up with him to give myself and my business a great foundation, whats the best system to track all finances, and how can I get the most out of my accounting and book keeping team members?
These are questions that I have really been struggling finding the answers to so I hope some successful BP members who are well versed in this field can clear me up a bit!
Thanks!