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Updated 2 months ago, 09/25/2024
Should I engage a CPA now or wait until we've built up a basic portfolio?
Hi all. My wife and I are still in the 'learning phase' as real estate investors, but we know for sure that in the next year (a) we will be converting our primary residence in to a rental, and (b) buying another house that will be our primary residence for 1-2 years so that we can qualify for an owner occupied mortgage. In the meantime, we may also want to renovate our current home to increase its overall and/or rental value.
The plan is to scale our real estate investment portfolio pretty aggressively after our next purchase.
We're still a ways off doing any transactions, and when we do I can probably figure out the basic financials on my own. But should I? We will inevitably work with a CPA in the future, but are there benefits to starting that relationship now?