All Forum Posts by: Chris Walters

I was using 10k in my formula. I guess it will help for my searches that target 300k-500k market

Perfect! Thanks!

Hi everyone,

I am located in the Montreal area. Can anyone please tell me what is the average closing cost? I am entering 10k in my formula, but now wondering if that's too much.

Thanks,

Chris

Marc-Andre Bordeleau Hi Marc! Big welcome to BP! :) Don't hesitate if you have any questions!

Hi BP, To make a long story short, I have an agent who is currently sending me deals and he also referred me to a mortgage broker he dels with. That being said, i had already informed them that I started up my RE investment business and that I would also be doing my mail campaign. Do you feel it would be unethical for me to use the broker he referred me to if I obtain a property through a short sale, seller financing or any situation where the agent is not involved? I tend to prefer using another broker but simply wanted your opinion. I do not want to irritate anyone that i consider on my team. Thanks

@Natalie Kolodij Great point! Sometimes i prefer working with the newbies because they will work harder on your cases compared to the dinausors (no offense to any senior CPA's). 

@Carlos Guzman Good point. The better knowledge they have the less it might cost you.

@Natalie Kolodij That's exactly what I thought. I told myself this guy had 2 different ways to contact me. He burnt himself. 

I am down to 2 CPA firms. The first, i interviewed over the phone and the second in person. The interview went very well with the second company, the only hesitation I have is that they do not specialize in real estate accountant but they do have clients who own and manage properties. 

On the other hand, firm #1 has more clients with real estate. My only concern right now is that I called back the accountant I spoke to at firm #1, left a voicemail message and sent him an email. It's been 2 weeks he never returned my call or replied to my email. 

I feel that I should not be running after this guy and therefore I am thinking of going with firm #2.

What do you guys think?

I will advise you to dump them. If the CPA cannot or is unwilling to provide at least approximate numbers, it's either they are new to the business and do not have an idea of what to charge or they do not want to scare you away with their high prices. One way or another it seems to indicate a lack of confidence on their behalf. They should at least provide you with hourly fees. For sure they cannot give you an exact price for filing your tax do uments because that will depend on how organized you are and how much documents you will provide them. Not having an idea of what they might charge you is suspicious and i would not wait to get a crazy high bill for them to tell me i have to pay it because they completed the work. If at least i know in advance that their hourly rates are high but that referrals prove that they are among the best in town, well then it will be up to me to decide whether or not they fit my budget. I warn you, stay away and find another CPA. Unless you like surprises! What i did was type real estate accountant (for my city) in google, looked at most if not all my options, pin-pointed the best ones based on reviews and the info on their websites, call them up and have a 10-15min discussion with the accountant who would be handling my file, book an appointment to talk to them in person if needed (max 30min to an hour... this should be a free session, and ask questions pertaining to your situation without making the person feel as if they are counseling you for free), find out their prices, go back to the drawing board and read reviews and assess your budget, then determine which CPA made you feel more comfortable, will be availablewhen needed and will not make you go broke. Good luck