Hi BP community - We made the leap into RE by leasing our condo and wanted to understand exactly what the experience would be like placing a tenant and subsequently managing the unit and monthly payments. It's been almost a year and we've had success cash flowing the unit with surprisingly little overhead.
Our condo is in Midtown Atlanta and we're starting due diligence with another seller for a multi-family investment property in town.
After having a pleasant experience leasing out our condo, we are looking to make a concentrated effort to grow and expand our real estate portfolio through a series of long-term & short-term rental acquisitions. I have done very little work (zero) in the form of asset protection or tax mitigation strategies, which likely needs to be addressed as we look to grow.
Any advice on how to find a CPA and attorney to help protect our assets and minimize tax liabilities? As for a little context about ourselves, my wife and I are in our early30's and live ITP in Atlanta. I helped found a health-tech start-up, and my wife manages a team of physical & occupational therapists for the Atlanta region.
Best,
Chris & Caroline
