All Forum Posts by: Tristan O'Reilly

Quote from @Brittany Kuschel:

@Tristan O'Reilly I have heard wonderful things about @John Woodrich in your area! Another contributor mentioned, but he is also an investor so he is well-rounded on the tax benefits from an investing approach.

Historically, my husband prefers to work with someone local and we recently started working with an investor-friendly CPA in Duluth. We were extremely happy with the outcome from our recent filing. I am a full-time Realtor and we have multiple investment properties, and I felt that he had a vast knowledge of the tax code and our abilities to capture all available benefits as a real estate professional and real estate investor. 

Just emailed him this week with some follow-up questions for 2024 planning and he was quick to respond. I posted his information below:

Craig Chilcote, CPA

Managing Partner

Anderson, Kuiti & Asuma PLLC

5 N 3rd Ave W, Suite 201

Duluth, MN 55802

218.727.5066

 Thank you for the recommendation! I prefer face-to-face and don't make it up to Duluth often. I was there earlier this fall and it was absolutely stunning! Happy Holidays

Quote from @Bryon Andrews:

Hey @Tristan O'Reilly, I have used George Doyle out of St. Paul. Him and his team have been great to work with here in MN!

 Thanks for the recommendation! 

Hey Bigger Pockets community!

I hope you're all crushing your goals! I'm currently on the lookout for a knowledgeable CPA in Minnesota who specializes in working with realtors and has expertise in real estate investments.  If you've had a positive experience with a CPA who understands the ins and outs of the real estate market in Minnesota, especially when it comes to tax implications, deductions, and strategies, I'd love to hear your recommendations.

@Peter Christensen  However you go about it, whether you end up running it by an attorney or not, I would definitely recommend getting her parent's on the new lease if she doesn't qualify by herself. Since she shared that she needs help from them to cover the rent, it's important to get their signatures. Good luck! 

Quote from @Kiersten Hegna:

I got myself ready, I read all the books, I opened an LLC, I set my criteria, I have a realtor. the only think I don't have is a house! I've made several offers at asking price, even offered cash. All rejected. First world problem I know but I am super deflated! Is this me or the market? What do I do next??

Hey Kiersten, It’s been a really tough market here in the Twin Cities. It’s a numbers game when it comes to getting an accepted offer. Make sure your agent is giving the seller a call before you write and is crafting the offer around the seller’s timeline. Good luck with the process! Feel free to reach out if you have any questions. 

@Alison Olson  My clients have had really good luck with 3/2 and 2/1 here in Minneapolis. It will depend a lot on what you're personally comfortable with, financing, and the specific neighborhood that you choose. I'll send you a message and I am happy to answer any other questions a little more thoroughly. 

Hey Ryan, Not sure if you have talked with a lender in the area but, I have a lender here in Minneapolis who is very well-versed in investing and financing in the area and I'm sure he would be happy to sit down and go over the pros and cons of each with you. I see you are also from the Twin Cities and I know there is a lot of good downpayment assistance you might be able to take advantage of. Please let me know if you'd be interested, hope all is well! 

Based on my experience here in MN, I think the one tenant is perfect. It proves the market rent, while still keeping it open for a house hacker to purchase the property. If you're forced to get another tenant, I'd stick with a month-month lease, so the next owner can come through and make the final decision. Good luck!