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All Forum Posts by: Steve K.

Steve K. has started 14 posts and replied 45 times.

Quote from @Alison Brenner:

I own 24 self-managed units in Anaheim. I'd look into Beachfront PM. They have a wonderful rep. If you want cheap management, try Consensys. They will work with you in terms of creating a hybrid model in which you play a management role. It depends on what you want.

I had professional management until April 2022....NEVER again. As my grandfather used to say, the worst owner is still a better manager than the best professional property manager.


 Hi Alison! Thank you so much for your thoughts. Just starting out, I am torn between wanting to learn the ropes by working with a PM company initially versus saving the money and self managing (especially as we are just starting out). How did you obtain all of the documents for being a landlord? Like a lease agreement, deposit agreement, etc. 

Post: California CPA recommendations

Steve K.Posted
  • Posts 45
  • Votes 18
Quote from @Basit Siddiqi:

California can be an extremely difficult state when it comes to tax planning for real estate investors as there can be a lot of federal / state tax differences.

Not recognizing bonus depreciation and real estate professional status are just a few of them.

best of luck to you in your search.


 Thank you, Basit!

Post: California CPA recommendations

Steve K.Posted
  • Posts 45
  • Votes 18
Quote from @Katie Balatbat:

@Steve K.

I have names in the San Diego area if you're interested.  Feel free to send me a message.

*This post does not create an attorney-client or CPA-client relationship.


 Hi Katie, thank you so much. I will reach out to you shortly. Thank you in advance :)

Post: California CPA recommendations

Steve K.Posted
  • Posts 45
  • Votes 18

Hi everyone,

Can anyone please recommend a few good CPAs with very good knowledge of Real Estate investing in California. Preferably in Southern California.

Thank you very much! 

Quote from @Mackaylee Beach:

Hey Steve, sorry I do not have any recommendations as I am from Kansas City.

Just wanted to wish you luck on finding the best fitting PM for your needs.

Take your time to do your research. Finding the right PM with the right team is important for your cashflow and well-being of your properties!

Thanks for the advice, Mackaylee!
Quote from @Melanie Thomas:

Bridge Property Management affiliated with NARPM.

https://www.narpm.org/find/pro...


 Thanks, Melanie! I will check it out.

Hi everyone,

Can anyone recommend a few good property management companies in Orange County, CA.?

Thank you in advance!

Post: LLC versus Umbrella Policy

Steve K.Posted
  • Posts 45
  • Votes 18
Quote from @Nathan Gesner:
Quote from @Steve K.:
Quote from @Nathan Gesner:

Would you recommend an LLC at any point? Or is it sufficient just to have a really good umbrella policy for all of your rentals? Thank you very much!

I formed LLCs myself a couple years ago. I had about $2 million in net worth, a dozen properties, my PM business, and a self-storage business. I wanted anonymity because I am in a small town and don't want anyone knowing what I own, plus I wanted the legal protection. I also created a trust that monitors everything. It was a little complicated, cost me a few thousand dollars, but now it's riding smoothly and won't cost much time/money to handle from here on out.

There's a time and place for an LLC. I just hate seeing people get spun up about it before they buy an investment, or when they only have a couple investments. It is far, far more important to spend your time, energy, and money on learning the laws and how to manage your properties well.

 Sounds good. Thanks so much for your help and input, Nathan. I'm trying to learn as much as I can. I will definitely keep your advice to heart as I move forward!

Quote from @Mark Pedroza:

@Steve K.

For on-line real estate education try this webpages:

https://www.firsttuesday.us/Sa...

https://www.retrainersca.com/

I'm in no way affiliated with these schools ........

Good luck...


 Thanks so much for the info, Mark. I will check both of them out!

Quote from @Matthew Valeriano:

I used https://www.retrainersca.com/ to get my license online.


 Thanks, Matthew! I will check them out. Do you feel like their curriculum prepared you well for the Real Estate Exam?