Choosing an attorney and cpa

[Sanjoy V.]

I am looking at properties ranging from 70-100 units close to $5 million. I’m trying to understand how do we go about trying to pick an attorney and CPA. this is in the Dallas-Fort Worth area. What are the criteria to look for and what questions to ask the attorney to see if they are good and up to speed. With CPA also, what questions to ask to see if this is a good CPA and is up to speed with the current law. What is the typical fee from attorney standpoint for a deal this size, to do closing, psa, waterfall agreement with 2-3 other limited partners. Any other thoughts, input, would be really helpful. I don’t know if one can make any referrals on this forum, but any referrals will also be great. Thank you

[Stanley Bronstein]

@Sanjoy V. If you're doing a $5 million deal, then you need quality and the deal is large enough to justify paying for it. The main thing is to make sure they have real estate experience and just flat out ask them what are they doing to stay current of the changes in the tax laws.

You might even want to hire someone who is BOTH an attorney and a CPA and knock out 2 birds with one stone.

If you wish, you can go to the American Academy of Attorney-CPAs and find someone in the Dallas area who is both an attorney and a CPA.

https://www.attorney-cpa.com/