All Forum Posts by: Daniel Hyman

Sorry for the poor service you received. 

You can check for CPA's that are still taking on new clients by using the search feature above and filter by members. Type in, "CPA."

Try @Michael Plaks down in Houston.

@Ashish Acharya Tears of joy!

@Yonah Weiss Thank you kindly. it's great to be connected here.

@Michael Plaks 1 out of 2,000 isn't so bad. I'll have another good one on 2028 at this rate. :)

@Scott Trench Thank you! Wow, that's so funny that you are at 2,000 posts on the same day!

@Julio Gonzalez Thank you. Yes, it's been a blessing.

@Jay Hinrichs Absolutely. And how could I have forgotten to mention you in my post? Thank you for ALL that you have done for so many of us!

Post #2,000

I want to take this opportunity to thank Bigger Pockets for all it has done for me personally and professionally. I also want to share a tip for newer members.

When I first joined BP back in 2016, my CPA firm had real estate tax clients, but my personal knowledge of real estate investments was very limited. As more clients came to me with real estate tax issues, I needed a community to engage with to better grasp the industry. Enter BP. Wow, was I blown away. Engaging with successful investors from the comfort of my own home was amazing. Learning from those who were giving their time to answer questions was inspiring. I decided to do the same in the BP Tax forum. So I started engaging and posting. And engaging some more. All the way to 2,000.

But it wasn't just about answering tax questions. It was about engaging in posts of all types. Learning from others' success and failures. And then, like many others, I got addicted to the BP podcasts, blog articles, books, and conferences. All the while continuing to post, vote, and contribute to BP, while planning my first investment. I was hooked.

It took a while, but eventually a partner and I purchased our first property. A SFR outside of Pittsburgh. We learned a ton about investing with that one property. Since then, we sold the SFR and I have gone on to invest in multiple syndications, preferring the passive route while growing the CPA firm with both new and seasoned real estate investors as clients.

It has been an awesome ride with Bigger Pockets. I feel so fortunate to be part of a community of like minded individuals willing to give their time and energy to help people like me personally and professionally.

For all the newbies just getting started on BP, here is my unsolicited advice.

Has being an active participant in BP been time consuming? Yes. True engagement with others takes time. Just like an in-person relationship would. Make your questions sharp. Make your answers even sharper. Either way, take the time to engage and be part of the conversation. If you see a good question or answer out there, vote on it. All of this takes time, our most precious asset. I would argue that even more important than the time spent, is the consistency. Post daily or weekly. Whether you are asking unique questions or providing valuable answers, get into a schedule and keep to it. You will see results.

Have I gotten back more than I have given? Yes. And it's not even close. Aside from the knowledge base and community BP has provided, it has allowed me to connect with some of the most successful investors out there, many who have become friends and clients. And, thankfully, our CPA firm has grown exponentially over the years with several CPA's on staff and hundreds of real estate clients across the country. Thankfully, we are recognized as one of the leading CPA firms in the real estate industry and BP was the catalyst!

I am truly grateful to this community and look forward to more interactions with you all in the future!

Thank you to @Scott Trench and the entire BP team for this incredible site and community.

Thank you to @Michael Plaks, @Nicholas Aiola, @Ashish Acharya, and other tax professionals for providing incredible value.

Thank you to @Yonah Weiss the Cost Segregation King.

Thank you to @Luke Carl for leading the way in Short Term Rentals.

Thank you to @Ronald Rohde for the legal advice on the forums.

Thank you to all of the investors who contribute to BP in such a meaningful way.

Thank you to all of our clients for your trust in us. We appreciate each of you.

Google "Schedule E" to get a feel for the type of expenses that you will need to track.

Whether to outsource your bookkeeping depends on a number of factors including your portfolio size and time. I usually recommend to newer investors that they keep their own books for starters to learn the process. As you grow, you can always outsource and confidently manage the bookkeeper once you understand your process.

If you do execute this plan, make sure to check with your tax advisor regarding rules of "substantial services" with regards to how you intend to operate. 

@Angela K.

Try typing in "CPA" in the search bar on the top right. You can filter by members. 

Look for members with a high number of posts and votes.

Then send a colleague request to connect. 

Most real estate centered CPA's fill out their client list by the Fall for the next year. Even then you might be looking at an extension for the highly sought after firms. 

The time to reach out is now. 

@Cody Mitchell

Good question. I think it depends on how rapidly you intend to scale. 

If you are certain that you are scaling up quickly, then it makes sense to jump into software. Otherwise, keep it simple with a spreadsheet and then transition into the software at a later date. We typically see that transition take place at 3-4 properties.

@Steve Keisling

Check around here on the forms for professionals who are still taking on new clients. You can even use the search bar and filter by profession. Most of us work with investors all across the country.