Looking for Real Estate Account- Trying to incorporate

[Robin Valadares]

Good Afternoon BP community,

I'm starting to try and build my real estate team. I currently have an accountant however he isn't too familiar with real estate investing so I was hoping to find someone who has a bit more expertise. I also want to incorporate so I can house (pun intended) my properties (1 current one and my future ones).

I currently own 1 SFR and my hopes is to get 1-2 more under my belt in the next 12 months. I will eventually move towards multifamily homes. But in my immediate future I will stay in the SFR market.

If anyone has any advice against incorporation please let me know as well.

[Roy N.]

@Matt Geerts

The decision and benefit of holding properties in your name, in a corporation, or even in a family trust will depend on your individual circumstances.   For most folks, especially starting out, your tax burden, and administrative costs, will be lower if the properties are in your own name.   

In our instance it actually made more sense to start with a company due to the source of our seed funding (it came from the retained earnings in another company).

The use of a Limited Liability Partnership (LLP) in most provinces is restricted to groups of professionals (doctors, lawyers, accountants) carrying our their profession. For a real estate venture, you would be able to use a general partnership or limited partnership (LP).