CPA, Lawyer in San Antonio, TX for Rental Properties

San Antonio, TX · Member since 2016 · 1 post · 0 votes

I am searching for recommended CPAs and lawyers in San Antonio, TX that have experience in handling rental property investments. We have questions on all financial aspects, but in particular if we can move a Roth 401K to invest in rental properties instead of stocks.

Thanks in advance,

Kristin

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Brian EastmanPro Member

Self Directed IRA & 401k Advisor · Wenatchee, WA · Member since 2014 · 2k+ posts · 2k+ votes

@Kristin Steadings

If the Roth 401k is held by your current employer, likely not, but otherwise you should have the ability to use retirement funds to invest in real estate. Most CPA's do not directly deal with self-directed retirement plans, though a good real estate focused CPA should be able to help you understand the concept to some degree. In addition to working with a local CPA, you will want to reach out to a specialty provider of self-directed retirement plan services. There are a handful of quality providers of self-directed IRA and 401k plan that participate actively here on BP and lots of good information on the topic in the forums.

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Betty Cruz
San Antonio, TX · Member since 2016 · 240 posts · 163 votes
9y
@Kristin Steadings I don't think a CPA or lawyer would be as knowledgeable about that specific question as someone like @Dmitriy Fomichenko or @Mark Nolan. Both are very active here on Bigger Pockets.
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Brian EastmanPro Member
Self Directed IRA & 401k Advisor · Wenatchee, WA · Member since 2014 · 2k+ posts · 2k+ votes
9y
@Kristin Steadings
If the Roth 401k is held by your current employer, likely not, but otherwise you should have the ability to use retirement funds to invest in real estate. Most CPA's do not directly deal with self-directed retirement plans, though a good real estate focused CPA should be able to help you understand the concept to some degree. In addition to working with a local CPA, you will want to reach out to a specialty provider of self-directed retirement plan services. There are a handful of quality providers of self-directed IRA and 401k plan that participate actively here on BP and lots of good information on the topic in the forums.
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Mark Nolan
Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
9y
@Kristin Steadings
Yes a Roth Solo 401k can be invested in real estate which has become a very popular Roth solo 401k investment in the last 10 years. Using a Roth solo 401k to invest in real estate is a very lucrative way to grow your nest egg tax free because all gains grow tax free. Title to the property is taken in the name of the solo 401k plan and all income and expenses flow through the solo 401k.
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Steven Hamilton IIPro Member
Accountant, Enrolled Agent · Grayslake, IL · Member since 2011 · 5k+ posts · 2k+ votes
9y
Originally posted by @Betty Cruz:

@Kristin Steadings I don't think a CPA or lawyer would be as knowledgeable about that specific question as someone like @Dmitriy Fomichenko or @Mark Nolan. Both are very active here on Bigger Pockets.
There are only a handful of us that work with them extensively.
Be mindful when selecting someone to work with.
You definitely need someone qualified, does not have to be a CPA, could be an Enrolled Agent or an attorney. Just make sure they specialize in tax and have significant experience dealing with real estate investors.
Here is a great list of questions to ask a potential accountant: http://www.biggerpockets.com/forums/51/topics/70447-questions-to-ask-a-cpa
Also check out the www.NAEA.org page in your search. It should help you find someone local. If someone comes to me, I'll send them your way.
If you need help in your search or want to verify something don't hesitate to ask.
For example: I have clients worldwide and things are just as easy as I e-mail them, talking on the phone. I even use Skype and TeamViewer to communicate with clients so I'd highly recommend looking for one of the best with great references that interviews well with you.
So look for someone you can connect with that works out for your situation.
Feel free to ask here if you have questions
[email protected]224-381-2660
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Rick Pozos
Wholesaler, Rehabber and Landlord · San Antonio, TX · Member since 2014 · 2k+ posts · 2k+ votes
9y
@Kristin Steadings,
Welcome to the forums!!! As you can see lots of great info here.
Quest IRA is a name that you can google and get all kinds of free info about the subject. They have live as well as facebook and webcast presentations across the state. Very informative. They are sponsors at all the big REIAs.
I have borrowed from a few friends that have accounts there and everything gets done quickly and courteously. Highly recommend.
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Daniel HymanBusiness Member
CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes
9y
@Kristin Steadings I have a great attorney who I can refer you to. Feel free to send me a message in my inbox, and I'll happily reply with the contact info.
My Online Accountant572 Reviews
Website View Page
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Brad LarsenPro Member
Property Manager · San Antonio and Austin, TX · Member since 2016 · 377 posts · 380 votes
9y
@Kristin Steadings Hello Kristin - I would recommend you seek out my accountant who can also assist with turning you over to someone to form an LLC should you choose. Ensure the attorney can help you service the LLC annually with any minutes / notices / updates.
If you message me, I can send you his name and contact number.
I have been with this CPA near 15 years and he was my mentor's CPA. My mentor was around in the 80's when they had non-qualifying VA assumptions!!! He was picking up homes left and right by simply taking over the payments. He would never tell me how many rental homes he really had:)
Good luck out there!
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