Multifamily Syndication Accountant/Bookkeeper

[Tim Mason]

I am building my multifamily syndication team and I am looking for an experienced multifamily syndication accountant who can ALSO serve as my bookkeeper. My geographic focus is large Sunbelt metros, but I am physically located in Los Angeles, and my partners are in Washington DC. Does anyone have recommendations for accountants who also function as bookkeepers for syndication deals? Thank you!

[Roni E.]

I assume you will have third party property management so they will prepare the books every month. then you could get some investor management software that automate the calculation for investors. Some syndicators have their PM company cut and paycheck to them and their investors. So lets say for April 2020 after paying all the bills there is $108k left over. Lets so for argument sake is 80/20 split with no Pref and 2% Asset management fee. For argument say the Asset management fee is $8k that leaves $100k. So 80% of $100k that is $80k you advise the PM the ownership percentage. $20k goes to GP. If you need a CPA to do the tax return and K1 send me a message will give a talented firm.