All Forum Posts by: Janet Behm

Sondra,

Every investor's circumstances are different. You want someone who is an investor themselves.

Ask them to review your documents and advise you on the best entity (Partnership, Limited Lability Company (which kind), or Corporation, will give you the best tax advantage.

Then see where the conversation goes.  This should get the advisor rolling and asking you clarifying questions. If they are not asking you questions at this point, they may not be as proactive as you desire.

Barry, 

You can take control of this, by doing it yourself.

Contact your county assessor to find out when and how you can appeal.

Get a RE Broker Buddy to write a Broker Price Opinion (BPO). Take that along with the comps the Broker ran with you to the hearing.

Or, for more impact, have an appraisal.

Unless you are already making more than $230,500 in your real estate investing...it is probably worth your time (and the experience of successfully negotiating a  huge savings with the county).

Good Luck!

Tyler,

Congratulations!

You will NEVER FORGET...your first...

Schedule E.

Do a local search for Certified Tax Coach. These folks specialize in tax strategy for REIs

Anthony,

Michael is EXACTLY right.

"Tax advisor" is a relative term.

A generalist "tax Advisor" will not have the time to research all the ways a dedicated real estate advisor will, to research fine points of tax law and strategies.

4th Quarter is the perfect time to find the real estate advisor you REALLY need.   

Kory,

Good point.

We are a small boutique bookkeeping, tax, and Tax Strategist shop. One industry: Real Estate Investors.

Every manager is an REI.

We love our niche and love our clients.

Thanks for the Reply to this post, Janet

Chance,

Contact 
Jeff Breglio, Law

His firm specialized in RE deals.

Check out is REI University. Lots of free content and advice.

Anthony,

Good seeing you again!!

The tax code is like trying to pick up a night-crawler on your sidewalk. Slippery and hard to "grasp."

Real estate is complicated. You probably won't get much from an accounting firm that "specializes" in a half dozen different industries.

Look for help from firms that specialize in real estate, then look to see if they advertise 'being in your niche.'

When we niched "hard" I was amazed at all the stuff I had never heard of! A 'general' firm can't afford to do the research, DAILY, to identify the tax breaks available to an REI.

Karl, 

The County sometimes, makes WILD assessments. 

Call the County Property Tax Division, find out when they are holding "hearings" about adjustments. 

You have done EXCELLENT RESEARCH!

Take your research to them and present it.

They want their money...but it's not personal. I have found them to be receptive and agreeable...and adjust the property tax DOWN.

contact Raymond Sawyer. Tell him I referred you. He is brilliant.

I am wanting to avoid delete of this message 714.

Then this is the number 496. 

Finally, 7024 is the phone you want.

Good Luck!

Bob,

I am excited that you are moving into investing. 

You mention "strategy." This is not enough information to know if this is a good strategy.

I recommend you do a local search for "Certified Tax Coach." 

They will help you plan your REI trajectory, for cash flow and wealth. Those folks love to 'run-the-numbers' to help you see the consequences of various approaches.

Good Luck