Rental Property Investor · Honolulu, HI · Member since 2015 · 143 posts · 61 votes
Hi BP!
My question is, what are some services you wish weren't hard to find that could help you when working with a financial planner? What is role is it that you wish they played in your investment portfolio if any. Does having a CPA/Tax CPA pretty much do it for you or is there something they could be more knowledgeable in? From what I'm seeing, they are mostly geared towards selling stocks but unfortunately companies put planners in this position by starting them as salesmen. This makes it difficult when actually wanting to be more versed in real estate and cater to those that believe in this approach (outside of portfolio diversity) as a form of retirement or investing. Long story short, I'm just curious if there is even a market for someone who specializes in this field?
Rental Property Investor · Port Townsend, WA · Member since 2015 · 30 posts · 36 votes
7y
There are very few financial planners that know anything about real estate investing. I've been told by financial planner that, during the 200-hour CFP training program, there is literally only about 30-45 minutes about real estate.
There most certainly is a market for financial planners that incorporate real estate analysis. That's the whole point behind the Real Estate Financial Planner software.
On the tax side, you also need to find a CPA or EA that is versed in real estate matters. Most are not.
Interview all such advisors in order to determine their level of proficiency with real estate as an asset class and as a tax issue.