Accountant, Financial Advisor, Or Attorney? Please Help!
I currently own a 3 family and have an interest in a 2 family I'll be buying in the future. I want to begin buying properties to rehab and flip or rehab and hold depending on the property. Who should I see to help me set up the business as far as which type of entity, LLC., S-corp, C-corp, possible partnerships etc?
Would an accountant, financial advisor or attorney be the place to begin?
Any help would be appreciated.
Mike in NH
An attorney will set up the entity but it will be a combination of legal and financial advise that will guide you to which type of entity is best for your needs.
Talk to your attorney regarding asset protection. Talk to your tax accountant regarding tax strategies. I find that my accountant is also aware of general advantages/disadvantages of each entity in regards to asset protection just because he has been in the business for so long.
GOOD LUCK
I appreciate the feedback. I guess I will probably start with an accountant and then find a lawyer. I don't currently have either of these so I guess I'll try to meet with several and see what their experience is with real estate investors. I don't suppose there's a good place to find competent professionals in my area without being at the mercy of the yellow pages? I may contact the broker I bought the 3 family thru who also owned several other rentals.
Thanks Again
Mike in NH