New Member from New Jersey

[Ella Blue]

Hello!

I'm so glad I found this site!  

My partner and I are new to real estate investing and we have 0 experience :).  Our goal is to generate some passive income by either flipping SF or through buy and holding multi-families. We will be investing in Philadelphia, PA , where my partner lives and I live in Central Jersey. 

We are working on setting up our business plan now and wanted to ask if anyone can recommend an attorney for our team that can assist us with setting up an LLC and legal help along the way? And also a CPA or tax advisor?

Thanks in Advance!

[Liz Faircloth]

Hi @Ella Blue:

Congrats on your decision to get into real estate investing. My husband Matt and I are active investors in both NJ and PA and have investing for over 10 years. It takes a ton of hard work but it is a great business if you stay the course, and never give up! 

Many of our rehab projects and investments are in Trenton, NJ and other sections of Mercer County. We also invest in PA - mostly buy and hold apartment buildings and some flips. There is a ton of opportunities in both states - just depends on your strategy and focus. That is great you are working on a business plan! I just wrote a blog post last week for BP on writing a simply business plan - you should check it out if you don't have a template for writing a business plan. Here is the link in case you want to check it out: https://www.biggerpockets.com/renewsblog/5-step-pr...

With regards to local REIA's, I would recommend SJREIA. We have been volunteering with this non profit for 10 years, and it is a great organization with a ton of sub groups throughout Jersey. My husband Matt runs the SJREIA Central group that meets in Princeton. Our next meeting is on 10/20 and there will be a panel of seasoned group of landlords speaking.

With regards to recommendation for a local CPA, I would highly recommend Jason Dubnik. He and his team is outstanding and saved us a ton of money over the years. We recently interviewed Jason on our YouTube Channel (the Landlord's Chronicles) and here is the interview if you want to check him out: https://www.youtube.com/watch?v=ArUgnvnEyrY. His contact information (website, etc) is included in the notes section of the video.

Please let me know if I can help further. Congrats to you on your new venture!

All the best,

Liz Faircloth