Intro of first time investor

6 Replies

Hey!

just wanted to introduce myself to some fellow Kansas people. 

I grew up in Overland Park, went to school at K-State... now my wife and I live in Hillsboro, KS... I own an insurance agency in Newton, KS. My wife and I are looking to get into investment properties within 6-9 months. I'm trying to soak up as much knowledge as possible between now and then. They'll be self managed at first. We really have a passion for our small little communities. They are full of great hard working people and I just hate to see people living in dumps. Our motivation is to help clean up some of these towns and give people a rental they can be proud of. We love our small town of Hillsboro (pop. 2900) and wouldn't trade our small schools and community for anything. Obviously the numbers have to work and we need to make money, but there's definitely an emotional "save rural america" motivation behind everything. Our plan is to start with single family dwellings... our potential markets are basically Wichita, Newton, McPherson, Great Bend, Salina, Hutch, Emporia, Manhattan... that also includes all the small towns that surround these larger cities. 

We have a great lender lined up. I can obviously handle the insurance. I have 2 lawyers in Wichita I've interviewed and like both of them. I can't seem to find an accountant in Newton that I like... does anyone have a recommendation for a creative small business accountant. I have 2 entities currently and with the rental properties that will be one more and we'll have a farm here shortly as well which will be another entity. So I need a good accountant to keep everything straight... and the more they use technology the better.

Let me know if anyone has a recommendation! 

@Travis Tannahill You could always join the closest REIA. However, you might not want to limit your search to your local area. You can find CPA's on BP who work with clients all over the country. We do so by utilizing all possible forms of technology (Skype, secure document sharing, cloud based accounting and tax software, etc). If you are comfortable with a digital relationship, then the pool of qualified CPA's really opens up and you stand a better chance of finding someone who fits your style.

That being said, I would still make sure that the CPA is personable and a good communicator because you want to make sure that you are setting yourself up for success with a CPA that you can have a long term relationship with. Good luck in your search!

I am in KC. I use Heather Hoyle and really appreciate her insight. HG&CO. But I'm not sure if she works remotely.

I'd really like to find someone semi local. My day job of insurance is dependent on referrals. So whenever I hire someone I like to make sure there's going to be a mutual referall source going on. 

If i wasn't in that situation I would totally be on board with a virtual CPA. who likes going to their CPA office anyways!? 

There is a Wichita REIA meeting June 3rd and there will be a presentation on taxes when it comes to Real estate.

Welcome Travis.  I use Brian Wilkinson at GJ & Company in Wichita.  He does a great job with both of our companies.

I'm in KC & have a good one here.  If that works pm me.  My in laws are in Wichita & I could ask them about someone there.  Good luck!

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