All Forum Posts by: Daniel Hyman

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.

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. 

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.

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

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

@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. 

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.

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!

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.

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.

@Bill Burkhead

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