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Updated about 4 years ago on . Most recent reply

User Stats

487
Posts
658
Votes
Joshua McMillion
  • Rental Property Investor
  • Madison, AL
658
Votes |
487
Posts

Looking for a CPA in the Huntsville are

Joshua McMillion
  • Rental Property Investor
  • Madison, AL
Posted

BiggerPockets Family, 

I am looking for a CPA that can grow with my family. If you know a qualified person, please let me know. They must have experience with real estate and military tax strategies and preferably invest themselves. I am also looking for my first LLC in 2021 and would like to find a CPA to help with the process. My wife and I will use a legal agency to form the licensing agreement, but having a CPA with knowledge would be great.

Thanks! 

Sincerely Josh

Most Popular Reply

User Stats

487
Posts
658
Votes
Joshua McMillion
  • Rental Property Investor
  • Madison, AL
658
Votes |
487
Posts
Joshua McMillion
  • Rental Property Investor
  • Madison, AL
Replied

@Peter McDonough

Thank you for the reference! I spoke with my lender, and they do not use a Due-on-sale clause. That being said, I like the peace of mind the LLC provides over other insurance options, like an umbrella cover. There is still a level of risk associated with the LLC, but I see the potential for tax advantages as a better trade-off. If I purchase the investment property as a residential loan, I could transfer the title with my name into the LLC. I will still be fully obligated on the mortgage. Also, the LLC will not have an established income and credit history. I would need to provide a signed personal guarantee that I will pay the mortgage if the LLC cannot.

Sincerely Joshua

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