Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Daniel Hyman

Daniel Hyman has started 17 posts and replied 2023 times.

Post: LLC versus personal umbrella policy for Indianapolis SFH rental

Daniel Hyman
Posted
  • CPA
  • Milwaukee, WI
  • Posts 2,076
  • Votes 1,607

You may want to speak with an asset protection specialist. 

Also, keep in mind that an IN multi member LLC would require a separate tax return, so you would want to budget for extra admin fees.

Post: Cost for a Tax Specialist

Daniel Hyman
Posted
  • CPA
  • Milwaukee, WI
  • Posts 2,076
  • Votes 1,607

Whether you need a CPA with just three rentals depends on the complexity of your situation and your comfort level with DIY tax prep.

If things are pretty straightforward, you might be fine with tax software for now. But a specialist could be helpful if you have unique situations, want to explore advanced strategies, or simply save time.

Cost varies - some charge hourly, some a flat fee.

I'd recommend checking the tax pro button on top of the page and scheduling a free consultation. This will help you understand your options and decide if it's the right time to hire a pro. 

Post: L.A county California fires

Daniel Hyman
Posted
  • CPA
  • Milwaukee, WI
  • Posts 2,076
  • Votes 1,607

Yeah, that’s absolutely insane! It's terrifying to think how fast it can spread with that kind of force behind it. Hopefully, everyone stays safe and the firefighters can get a handle on it soon.

Post: Smoky Mountain Vacation Home/STR

Daniel Hyman
Posted
  • CPA
  • Milwaukee, WI
  • Posts 2,076
  • Votes 1,607

Short Term Shop is a wealth of info on the area.

I would also speak with a handful of PM's.

Post: Is Myrtle Beach the right place for investing?

Daniel Hyman
Posted
  • CPA
  • Milwaukee, WI
  • Posts 2,076
  • Votes 1,607

@Magda Lipinska

The lower property taxes in SC may be related to the higher state taxes. TX has none as you know. Be sure to include state taxes in your deal analysis. 

Post: LLC Best Practice

Daniel Hyman
Posted
  • CPA
  • Milwaukee, WI
  • Posts 2,076
  • Votes 1,607

CPA's are a good resource to talk these matters out with, but ultimately the realm of asset protection should be reserved for attorneys imho.

Post: Best cities for real estate investment

Daniel Hyman
Posted
  • CPA
  • Milwaukee, WI
  • Posts 2,076
  • Votes 1,607

Exploring cities outside of California for real estate investment can be a smart move, especially if you're looking for markets with strong growth potential, reasonable property prices, and good rental yields. You may want to visit a few cities to get a feel for the different markets and meet local real estate professionals. Connect with local real estate agents, property managers, and other investors to get insider knowledge and help identify potential properties.

Good luck!

Post: 1st investment. Moving to Sacramento. Buying duplex and do househacking. need advice!

Daniel Hyman
Posted
  • CPA
  • Milwaukee, WI
  • Posts 2,076
  • Votes 1,607

Aside from speaking with local investors, agents, and lenders in Sacramento, I would recommend speaking with local property managers. They are usually a wealth of information about market conditions.

Post: Duplex interest rate 8.25% good?

Daniel Hyman
Posted
  • CPA
  • Milwaukee, WI
  • Posts 2,076
  • Votes 1,607

You may want to shop around. Get quotes from multiple lenders to ensure you're getting a competitive rate. 

Negotiate by using your credit score, down payment, and comparison quotes as leverage.

Also, a mortgage broker can help find the best rate tailored to your situation. Consider speaking to one.

Post: Looking for experienced CPA

Daniel Hyman
Posted
  • CPA
  • Milwaukee, WI
  • Posts 2,076
  • Votes 1,607

@Bill Burkhead

Try the "Build Your Team" tab at the top of the page and click on "Find a Tax & Accounting Pro."