All Forum Posts by: Matt Stemen

@Katherine Serrell

Thanks so much Katherine that is really helpful. As I’ve explored different CPAs the cost seemed expensive and they wanted to sell me on a program/playbook that offered more than I wanted. I’m looking for someone who can help with filing taxes and advising on real estate tax strategies. I’ll definitely do more hunting to find a CPA that specializes in real estate and to pay the hourly rate if I want to talk strategies. Thanks for the help!

@Victor Steffen Great! Thanks for the input Victor!

Hi BP community. I have 4 rental properties currently and wanting to grow the portfolio and take advantage of tax strategies as well. I do not have a CPA currently that will help me as I continue to expand and add more properties. I am talking with a few different CPAs that can do taxes and give tax strategy advice. Obviously the services cost money that will eat some into cash flow. Is it worth paying the $3000 or so annually to a CPA for this or should I wait until my portfolio is bigger to bring on a CPA? I want to put a good team together that can grow with the business, but am not sure if this is a necessary addition at this point. Thoughts? 

@Steven May I’ve had the same thoughts myself and have wrestled through this. I’m curious if anyones thoughts have changed based on our current market being down compared to where it was a couple years ago. I’m considering taking out my Roth contributions to put into a deal before interest rates get even higher

Just started on the investing path. Bought a new home about 3 months ago and am renting out my old home and getting about $600 cash flow when its all said and done with mortgage, taxes, and maintenance taken out. My wife is a teacher and I’m a pastor. We have 2 young kids and we would love to have her go part time in the next 5 years and want rentals to be the solution for that. We are going to be living off of one income and put the other income towards the next rental? After one year of saving we should be ready for our next property, probably a single family. I don’t have a lot of extra time right now. Any suggestions on how to speed up the process without killing myself and neglecting my family? Just trying to start off right. Am I on the right track?