Frank Palomino

I am a CPA from Orange, TX that has always been intrigued with the real estate industry and how it is a great vehicle for those looking to accumulate both wealth and financial freedom. I have listened to the Bigger Pockets podcast and have read numerous blog posts in the last 2 years while I worked and dished out countless tax returns. To say that 2017 has been difficult is an understatement. In June, I lost my job. It was at this point that I made the decision to stop waiting to take action and took it as a sign to open my own accounting firm instead of grinding away at another 9-5. Upon gaining momentum for my firm, Hurricane Harvey swooped in and rudely required my wife and I to put 99% of our belongings on the side of the road for FEMA to pickup. We're stronger now and very excited to see what the future holds. Experience: I only have one deal under my belt... so far. It was the purchase of our primary residence. The negotiations took several months, but I was able to secure the property by the owner financing it at a rate lower than any bank was willing to offer me. I didn't use a real estate agent and relied solely on my professional experience as an accountant to make the deal. However, it's not as great as it sounds. When Hurricane Harvey rolled through and knocked us down, the owner gave some very bad news. The flood insurance was never renewed! Upon review of our agreement, it was clearly stated that the flood insurance was to be taken care of by the owner. Instead of dealing with a long, drawn out legal process, I suggested the return of equity. He agreed and cut me a check. Now my wife and I are living in a travel trailer looking for a new place to call home... I'm not sure what she'll think of it, but I'm liking the idea of finding an investment property to get us started! Real Estate Goals: As a CPA, I love what I do but have never had the patience to sit idly by. I believe that in order to provide exceptional service to those in the industry, I have to be entirely engulfed in the industry myself. If not, I'm only giving guidance without true experience. I would love to create a portfolio that generates wealth and elevates my knowledge to a point that will allow me to be my clients number one source. Currently Seeking: I am looking for real estate investors who would like to lower their taxes and improve their bottom line through implementing accounting procedures. I believe that financial education is the strongest tool that every investor should have in their toolbox.