Do it Yourself Cost Segregations w/ Bill Smith

Hey Simplepassivecashflow listeners. Today, we have Bill Smith here who is going to tell us all about the, do it yourself, cost segregation. For those of you guys who own single family homes or rental properties on your own, this can be a great cost effective means for doing a cost segregation, but hey Bill help me.

Let’s start at the top. No investor left behind. What is a cost segregation before we start drilling into this, do it yourself one. Okay. Okay. Essentially a cost segregation study, a real estate asset, mostly residential. What you’re dealing with is 27 and a half years or 39 years.

And so that’s your straight line depreciation. You can take that deduction every year to reduce your. Tax liability. What cost segregation does is we break down a building, essentially dissect it into its component parts, like when you were in eighth grade and you’re in biology and it does dissect a frog and take everything out.

all those parts, we put a different life to them. So those parts have a different life. And by short life, in those certain components that the IRS allows you get greater deductions upfront, realizing time, value of money. And then you can invest in more properties. So essentially that’s what we do is.

Dissect the building assign a new life. They call reclassify that property. And then you have higher deductions in earlier years. Very elegantly said. and if you guys want to learn more about cost segregation, go and check out podcasts. One 37. We did a little bit more deeper dive into the topic.

And I have a master cost degradation guide. If you are more of a reading and on your free time type of person, go to simple, passive casel.com/cost SEG. And while you’re on the page, you can also put it in your email and sign up for the newsletter to get the free Gootee there at, which is the K one tracker form or those syndication investors who have all these K ones all over the place and keeping track of your deductions, which.

You get those deductions by doing these cost segregations and on some of the larger deals, I can see like almost 50. It is 80% come back or what they invest as first year depreciation, but that’s all fine and dandy on the big deals, the syndication deals. But what we’re talking today is this cost effective.

Do it yourself. One that really makes it worthwhile to do on a smaller property. When I do it on my apartments, bill and I were looking at, This last deal and going to cost say get out. We don’t know the exact price yet, but it’s in the range of what, four to $6,000 typically on a large building and on a smaller building, it can be, you’ve got to send a guy out there and there’s a lot of modeling.

but there’s another way of doing it. And maybe bill, if you could go through that, what we’re talking about today, the paired down version. Yeah. so DIY cost sag is a platform we developed after being in the industry since 2002 and doing, well over 15,000 studies and we saw a need in the market for smaller properties under a million dollars.

And whether it’s a single family, residential, duplex, or triplex, we cover those, or it might also be a dentist office or any other kind of commercial property under a million, we actually go up to $3 million, but it’s a lower cost quicker alternative. So how that works is we’ve built a modeling system and we’ll model the property.

So it’s a non inspection product. It takes essentially. Five or 10 minutes to input the data you put in your credit card and you get your results instantly. So what happens with that is you’re done and you get your results. So it is going to air conservative and because we’re not inspecting it, there’s been a lot of talk like on bigger pockets.

Maybe you’re focusing on to BiggerPockets about these solutions. We have tremendous supporters and people that have questioned it, mostly competitors. But we provide audit protection. So in the event, you’re audited, which is very rare, but if you are audited, we are going to send an engineer out there and do a full engineering study, which we do.

again, we’ve done well over 15,000 a year, since 2002. So we will defend you fully. So you’re protected, but it’s a quick and easy solution, whether it’s a one to four family. With the discount code that you’ve got through here, with lane, it is a $640. That’s a one to four. It doesn’t matter.

What’s a single family or quad anything in between. And if it’s under a million dollars in five plus units, it’s 1200 and $1,390. That includes the auto protection is one 95 it’s insurance policy. So basically. It works great. It’s a good solution for the right situation. Certain, there are plenty of properties that are under a million or right in that borderline that justify the full asset detail that you’d get from a cost segregation study for.

A future of abandonment and disposition and things that depending on your purpose with the property and what your plans are with it, I talked to folks and say, this is your best option, or this is your best option. Are you looking to maximize your depreciation and do a lot of value add? Or are you just looking for quick deductions?

And an answer here, if you’re a real estate professional or not, sometimes that makes a difference. how valuable are these, tax deductions to you for an option? And it also takes into account like, how long are you going to put onto the property? It’s just like a turnkey rental that you’re going to dump in three years to go to syndication deals.

Maybe it doesn’t make sense. But if you’re costing out maybe a little bit. Larger property, especially in California, maybe that might be just enough to get some tax savings, to save up more money and eventually, go into deals and get cost segregations there and then sell the properties and not have to do a 10 31 exchange as I don’t like at all.

but you guys can go to against civil pass, a castle.com/costs say, and then there’s the link there with the discount code SPC, but I really wanted to dive into. there’s some controversy with this stuff when they go that’s so let’s speak to it. That’s how that mature conversation about the risks of what they are and some of the cons.

Okay. So you’re asking him what the cons are. The cons are, you have to have a habitats liability and you have to be able to use the benefits. I talk to people to say, okay, I want to get this. I heard about this depreciation. I want a bonus. I want everything.

It’s like Laurie real estate professional will know you got a deputy job. Yes, you’re good. They don’t have that much income where potentially straight line can almost neutralize their needs. they have to actually need it and have the doctors because there are passive, of course, if it’s a business property, and not residential, or it’s Airbnb, I talked to a guy the other day, he was calling about this and he’s doing Airbnb.

He was like, put this on my schedule C and I’m like, yeah, you could, because it’s a 39 year commercial property based on your tax situation. that’s a discussion with your CPA. So he was looking at getting these deductions on a schedule C, which actually did make some sense, but again, we’re not CPAs.

We don’t give that advice. So I talked to folks what makes sense for you? What’s your tax need and is this the right thing to do? And anything from, $58,000 single family, we did the other day with a guy in upstate New York. Too, we just did a $120 million, building in Atlanta, which obviously is a full cost.

Yeah. I’ll, I’m not a CPA, but I’ll walk people through the quick math in their heads. So basically we all know that on the residential rental property. You’re able to deduct one 27, the building value every year. So on a hundred thousand dollars property, let’s just assume that half of that property value is the building value, but in a lot of places that we like to invest in the Midwest and South with lower land values, that probably two thirds of it, but let’s just go at $50,000 and a hundred thousand dollars purchase price.

Now you divide that by 27. so 50,000 divided by 27. You’re roughly talking about a couple of grand a year of deductions, which is great. But. When you do a cost segregation, the general rule, as you’re looking to bottom third of the building value in the first year via cost segregation using utilizing bonus depreciation.

So one third of that building value 50,000. So you’re looking at 18 something like that. Yeah. So 18 grand compared to about two grand. So maybe a little bit less than 10 times, the amount of deductions you withdraw out in that first year.

That is right. But I think in the market, you’re talking about, you’re giving a lot of value to land because you live in Hawaii and usually in a CPA like Brandon Hall, he always wants to use the assessed value. And if the assessed value is below 20%, you go with the assess value. If it’s not, you look at the 20% is the rule.

A lot of people use. I’ve got people to use 10%. On pretty aggressive properties. We have to be able to support that. So we’re going to, it’s a problem. We’re going to say, wait, we can’t justify that land value for you, but usually 20%. So that a hundred thousand deal you’re looking at 80,000, let’s say it was 20% just at a conservative number for a house that’s a $20,000 deduction in year one with bonus depreciation.

And that goes to the end of 2022, unless the new administration happens to change that. we don’t know if they would or can and. And how quick that would actually happen, but it won’t happen on January 23rd. We know that, I’ve got a couple more years thinking and employ this strategy, but it’s ultimately, it sounds great, right?

You’re getting 10 to 15 times more deductions of first year, but there’s a cost to this. And when I do it for my large apartment buildings, I’m usually paying five grand or so on that thing to do this, to extract it out. but that requires sending, out a guy, unexpensive to travel out there, but that’s obviously not cost effective to spend $5,000 to get $20,000 of deductions at 25% tax bracket.

That’s a break even. So that’s where this do it. Yourself. Cost segregation product comes in. But bill, let me put you on the spot here. Why would lane spend $5,000? What else am I getting in my costs say that somebody’s spending 600 bucks and one of these things is getting. Just sitting no eyes wide open what they’re going into.

what does a huge difference? And I think on your bigger deals, if you’re spending 5,000, you’re not getting a very good study. You need to spend more than 5,000. They’re usually between five and 10. So on an apartment complex, it might be 7,500, six, six to eight, depending again, on the engineering that’s done.

So on a full study, we look at it and I think anybody else would look at. What are the engineering hours it’s going to take to do the work? Cause we send somebody on site. We count everything. We qualify everything and we do all the asset detail. So in a full study, you get complete pass at detail, meaning.

All your roof deal tale, all your HVAC detail, all your straight line detail, as well as all your short life detail, carpeting, flooring, cabinets, everything you’ve got. and we give a, a hundred page report back to you showing out all that detail. And we go into everything, electrical breakers, no one else gets the breakers.

We need things that people don’t do. So we wind in our deeper, but everybody goes in an engineer’s pretty deep and gets all the outlets and things. So that’s what a full study is. It’s a lot of pages. It’s a lot of research and a lot of documentation with the guy on site, too. Oh, yeah. You always see a guy inside.

Yeah. You always seen a guy inside an engineer. We send our own engineers. Some people would send picture takers and interviewers and stuff, but somebody all wasn’t goes on site. That’s pretty much what happens now with DIY it’s a non inspection product. So DIY means we’re modeling. So we are going to air conservative.

So if we would have gotten a 25% results by going on site, we might get 19% by the. DIY, because you’re not sending somebody on site. If in fact, you’re audited, though, again, as I mentioned, we will go send somebody on site and we will do that a hundred page report for you. But what you’re going to get with DIY is a model solution, which is what a lot of the people out there do models and residuals and sampling, and they add pictures and some engineering.

But what you get is a one-page report that gives you your five, seven, 15 and 27 and a half year. And then some categories of generally what it would be, and then a receipt. And then your data inputs, because some people input the date wrong. We fix it for them. We don’t charge. You’re afraid of that. you get a very streamlined report, but that’s all the CDA cares about CPR.

And 100 pages, they want five, seven, 15 and 27 and a half to put on your tax return and they’re done. So that’s what DIY does. So it gives you a lower number. It’s a lot less expensive. And so that’s why it’s good for the lower value properties where maybe you can’t justify a five or $10,000 study or for that, and then we also have a hybrid.

So one of the things to think about which I did, we did a million to house and sound like Hawaii, but that’d be a small house and wine LA this year we did a desktop. So a desktop takes our fully engineered study methodology. We use an engineer, but we don’t inspect. We ask the homeowner for answer a few questions.

Maybe get a few more pictures because the appraisals usually don’t have good property pictures. If they have a listing, like this was an Airbnb listing, then we had a lot of great pictures, had a swimming pool and tree. amazing grant, great landscape, good view. We got 52% of the property value for her.

She was blown away. She was like, wow, no, that’s not, doesn’t happen all the time. But that one, she’d been just a little bit under it, it might’ve got a DIY would not get near that because we just don’t know these specialty Palm trees and some nimble hot tub and the things that it says pool. So we’ll do the valuations, but it was, and that’s going to be a lower cost product about halfway between the DIY.

And the, full study, but so on a big house like that, they’re usually in the three to $4,000 range, but you’re going to get a full study, fully defendable, and you get a lot of detail. And that’s the thing, when you do one of these studies, if you were due to one, I would really suggest you guys get the audit protection.

So how does that kick in. I think there’s a pretty low chance of getting audited if you were. I dunno if like the percent chance, but I think it’s pretty dang low. It’s very low. of all the tax returns they get out at 4% of all returns get pulled for audit, which is a low number four or five.

and Cost segregation. Depreciation does not trigger on it. We’ve done over 15,000 studies. We’ve done plenty of audits, but relatively speaking, very few, but cost segregation has never been the trigger for the audit. People have got an audit for something else and when they get an audit. Of course, they look at everything.

They come in, they’re looking at everything. So now they’re going and depreciation schedules on the trip. So they say, okay, we need to check out why you did this or whatever. We send a report. If they asked a specific question, we answered their question. We showed the documentation to the report and the auditors happy.

Cause there’s somebody out of college, working for PWC or something and they go check and they’re off to the next thing. They got a list of 30 or 40 days or so. They’re happy. Our report is Bulletproof. And we’ve helped defend people that have been audited themselves. They got in trouble.

We’ve gone defended them. When guy was an honor, for two years, we did a quick study. We did a 27 page engineering letter, like a study summary. They send to the IRS in two days, the closest case. He had three more plants and was building a fifth plant. And so we, we got a client for life out of that.

Yeah, audits, but they’re rare. you want to anticipate the worst and expect the best. so walk me through this. Like I get the cost SEG, right? If I’m two bucks or so, you use my code to get a little off of that and maybe that helps pay for half of the audit protection and another a hundred bucks.

like a couple of years go by and the audit, maybe something else that gets flagged in my tax return. And he started digging into this. What do I do? so like, all right. I email bill and say, all right, man. the audit protection thing I bought, what’s the steps at that point?

You guys like, all right, man, we got it. We’re going to send the guy out and what’s the timeline and what are the steps? So what’s going to happen in the event. There’s an audit, your CPO, get involved, they’ll call us and say, Hey, we’ve got an audit and they’re looking at your depreciation schedule and say, yes, this one will not support an audit.

So we will then send somebody out onsite. Do the study, get it back and defend it. Usually have a specific question. So we might be able to defend it and just answer those specific questions. But if we need to go out and do a full study of it, and if we go to a full study, we’re going to find five, 10% plus more.

So you’re going to make sense. Oh, thanks for auditing because we actually have another $25,000 in appreciation. We didn’t claim. So we’re going to do a 31 15 change of accounting method. And where do you get this? And actually you owe us a refund. It may not go like that. that’d be a really happy ending, but we will find a lot more detail and we will get more benefit for you.

So there’s no chance there’s going to be any problems. Yeah. I think the do it yourself model is pretty dang close. Anyway. It might be so negligible. That it may not even matter, but I don’t know if that’s true if you do get audited and they do blow things up and you do find that your costs sake comes back even stronger, that you should go back and refile it seems like you should write, maybe just wait till the dust settles and refile next year.

So you don’t piss off that particular auditor. they forget that they’re not that’s that, but if you’ve done it in the year you purchased it. So you’ve already done component level depreciation. So actually you can’t go and do another 31 15 change of accounting method on the same thing you’ve already done.

I had someone ask me if they could reverse it because now they’re real estate professional. Two years later, go back to straight line for two years and then do it 31. I said, no, you can’t that’s well, there’s a lot of tax. I had to go to CPA on that one. And what if they didn’t pay for that insurance a hundred bucks.

Sharon’s how much legal fees or CPA fees does that take to defend something like that, just going out and doing a study or getting a study, you just have to go out and pay that $5,000 for a study, So you do have to defend that. So it’ll be certainly defendable. there’s no issue.

It’s not gonna be wrong. You just have to give them the detail. And that’s what the one big audit we did for that client. He did it. He was basically right. the CEO when they were doing, rubber for Nike and a whole bunch of stuff, he was basically right, but he didn’t have the backup details.

IRS wants you to detail out what you did. And that’s where our study with, our traditional study has straight-line components completely broken out. No one else does that. Unless you pay for an asset detail report. And they’ll charge again, another five or six grand on top of that original five or six brand they charged.

And so okay, now you’re looking at, 12 grand when we get an ELB for maybe seven for a thousand more that you’re looking at because we do the detail on everything. And what happens when you have that is you get dispositioned abandonment, which creates expense. So expense is great. So what you’re not going to get from, let’s say you’re doing roofs and things.

So you get a roof. We’ve put a value on it for if it’s about to be changed and we’re not going to high value with visit, it looks like it needs to be, it’s not a 30 year roof. We might have 20, $30,000 right on the roof, sat in an apartment complex. Like I’m one of the, one of your bigger projects or even a, on a house, houses that , we do with.

So what happens guys are during the shingles that rip off the shingles on the dumpster, they haul them away to landfill and then boom, throw them away and you put on a new $200,000 roof. On residential, you can’t expense it on commercial. You can expense it. Expenses are always better depreciation, but what happens?

You had $20,000 for the value on that roof. You just throw it away. And so at a, a 33% tax bracket that is $6,600, you just throw away. If you don’t have the asset detail and don’t know how to dispose of it or retire that asset that you’re replacing on a straight line. which is actually requirement from the IRS and their TPRS tangible property rates from 2014.

So that’s why asset detail’s important when you’re going to be doing a lot of repairs and maintenance, especially the straight line. It’s also important for the short life property. But now since a hundred percent bonus is in place, anything is five-year property carpeting things you’re replacing. Once you’ve done hardship bonus, it’s already written off.

You’ve disposed of it. It’s off your books. And so you just basically put in five years, so you spent 10,000 on flooring, you put 10,000 five-year life flooring, So when we help our clients identify, life components when they get replacements. Yeah. And the farm is pretty dummy-proof, it’s pretty easy.

Then you can do it in five minutes when I was looking at it. but yeah. So when people, they. Oh, you guys, this insurance, are you guys? Self-insuring it. It’s not through a third party. We’re self-insuring okay. Okay. So you guys, yeah. I’m sure you guys stand behind that percent chance of audit.

Cause your guys, the one, owning up if it’s the higher than that, right? that’s, that’s IO people always ask Oh, what do you think? The steel’s good look, man, I’m putting in my money. That’s what I think. And in this way, you guys are like, self-insuring these audits and not, you guys are going to do the work.

If we had charged with this kind of insurance policy that you guys have in place. so the odds are very low and we’re going to be Aaron conservative. So you’re not going to get maximum benefit. But you’re going to get good benefits and you’re going to get actually very similar to what some of our competitors do because they’re using modeling solution.

They’ve done a little bit engineering. We’ve actually done some tests and comparisons. We actually go up to 3 million now, on that net goes up, it’s not 640, that’s just for a house, but it goes up to close to 3000, I think for, a higher property. And we also, then we just, we do them on mobile home parks.

Those, we almost manually do our guide behind the curtain. He works on those, DIY is a great solution. It’s been really well adopted. A lot of folks in bigger pockets are big fans. A lot of folks are a lot of CPAs that use it for the smaller clients that have investors. I get a lot of calls and I get calls all the time.

They’ll go onto our website. Hey, I’ve got this house, let me know. And so we’ve got it. a number of big CPAs that also refer us when they have a smaller client. I talked to them and I set it up and they got 10 houses, or I get one, got a guy that had 10 houses. We’d get on Thursday. We connected and did 10 houses last Thursday.

All right. So yeah, to close things out, this, the why is this important guys, while you get the passive losses from these things, and you can offset your. Passive income. But if you’re super smart, like how we work our taxes, we played a real estate professional status. There’s a lot of nuances to that which we talk about every other week in the mastermind group, you guys can learn more about that.

It’s full passive cashflow.com/journey, but you can do tricks like this and. Now, I’m sure people who’ve listened to podcasts awhile. No, quite really don’t like 10 31 exchanges. I don’t know why anybody does them, who is a syndication investor, because, here’s my tax form that I have to display.

This is on the cost SEG website, simple passive cashflow.com/costs. So this year was I think, 2017 or 18 when I sold seven of my single valuable rentals. That previously done a 10 31 exchange. So I know all what they’re all about. I would never do one again and I don’t recommend it for most people, but I had a $200,000 capital gain see here on line 13, but because I was doing all these syndication deals doing cost segregations, like bill does, I was getting all these losses and they’re just piling up.

So when I had this big capital gain, I just brought it over here on line 17 to knock it right out and no gain. Without a 10 31 exchange. if you guys are thinking a 10 31 exchange, please don’t do it. Read this article, please don’t waste your money and don’t be a sucker or distressed. We call them the suckers, but they’re distressed buyers.

Whenever we want to sell an apartment, we jumped for joy when there’s a 10 31 buyer, because they are distressed buyers. But yeah. So coming to this page, that’s the main thing we’re talking about today is do it yourself cost SEG bill also does regular cost eggs. He’s looking at some of my apartments right now, to do it the, heavy duty way.

But this is the pair down for the show, slowly on 10 30 ones, because 10 30 ones. for some people generational wealth handing to the kids and what it was really designed for back in like the thirties or something like that. But people not using, Oh, I just want to get rid of taxes.

They use it for the wrong reason. And there’s so many, as you showed a great example, you don’t need a 10 31 necessarily to reduce your taxes. So I’m not a fan of 10 30 ones either. There’s a guy in those internet form that always gets into like an argument on the internet forums.

So to me and buck had 30 ones, he’s a 10 30 ones. He sells 10 31. So they always this is outrageous. You’re like 10 30 ones are like the best, no, man, like just looking at your small world, like this is the bigger picture. yeah, maybe in that world it is the best strategy that you know of, but I know something that’s a little bit better.

That’s right. And Joe Biden had said, he’s going to, the first thing he did was to go after his 10 30 ones is a low hanging fruit. And I don’t know if he’s at that’s just political talk or why, politicians say anything to get elected, but he said 10 30 ones showed more risks than bonus depreciation this point.

I will see what happens. I appreciate it. I don’t think people understand like that. You can depreciate an asset like with bonus depreciation. So therefore it’s out of the vernacular of the common American, like ABC can make an article on it basically. So yeah. let them have the tender one is what I say.

yeah. Yeah. Should we actually say, what bonus depreciation is done? And we define that. Did we. Yeah. Yeah, I think so. And, we also did mention a little bit that it is going to be going away in 2022, I think like stepping down 20% every year. So it’s not going away entirely, but.

Let’s cross our finger and it gets, renewed, right? Yeah, it will. What’s going to happen in 2022 and now it’s a hundred percent. And in 2023, it goes to 80% and then it goes to 60% and it goes to 40%. It’s been a hundred percent once before, and it’s been 50%, several times to infuse the economy, And so let’s say you bought a property in 2020. You didn’t realize cost you do it in 2021 and 2022. You will still, if we knew cross sag in the future and do what we call it, look back study. You still get bonus depreciation in the year that you paid for it. Bonus depreciation was in fact, or if you bought some in 2016, Wayne you’ve introduced me to a whole new world.

Oh my gosh. I bought this $5 million book apartment complex. And in 2016, we can do a site study on that. Now get that lost opportunity in 2016. 50% bonus depreciation. Of course the key thing is all a five-year we’re doing a catch-up you’re going to get it all in year one anyway. So what bonus appreciation is besides the word?

Everybody knows. Okay. We’ve heard about it. We’ve talked about 27 and a half year, 15 year, seven year. And five-year seven years. It’s your phone lines, but your short life, anything that has a shorter life than 20 years. You can depreciate in your one, it’s an election on your software, your CPA software, you still put in your five, seven and 15, but that bulk number, which might be 20 to 25 or 35 or 45%, I’ve seen some multi-families go to, you can take it all in year one doesn’t mean you get extra.

It just means you get it to take in year one. So you get that big deduction like you got in your properties. So you all set that big capital gain. So now you’re going to have to buy more properties next year to offset your other capital gains. So it just keeps going and you’re going to keep building your portfolio and your wealth.

So that’s how it keeps working. I call the, I call that the simple passive cashflow gravy train. Once you keep rolling and rolling. And people always ask don’t you sell your properties and you’ve got to pay back the depreciation and recapture and the capital gains, yeah.

But hopefully in the meantime, you went into dozens of deals and then you accumulated all these passive loss and then you take that money that you did make and put it into two or three new deals. Get the good towns rolling. That’s right. that’s the other thing that people that I don’t like as well as recapture all recapture and like 10 30 ones are also great recapture so bad.

Not necessarily because, one, we know tax rates are going up. And especially capital gains rates. So if capital gains rates go up to ordinary income, right then recapture, you can recapture anyway on your straight-line property. So do you want to, you’re going to pay taxes on that money either in the future or today just saw your tax rates are lower today.

So recapture is not such a bad thing. if you’re using the money, if you’re buying one house and you’re sitting on it for years and you might sell them, buy another house. Yeah. It’s probably makes sense. But if you’re investing. And turning your money. We have big clients. I won’t say the names, but they do it on everything.

They bought hotels in Hawaii, their bicep, all over the country building and buying they’re opportunistic. They might sell it, but they’re using that money. And the return they get on that money is greater than the tax rate they’re paying capita. So again, it could be bad. Again, it depends on your situation, but recapture and especially if.

Ordinary income tax rates or cap gains go to ordinary income tax rates. It makes it a moot point. You’re going to pay me now, pay me later. but the money in your pocket today, but yeah, there are, people are looking at this myopic thing. they’re looking at in one off deal one property and yeah, you do have to pay the depreciation recapture back, but I tell them like, Hey dude, look at the big picture.

You better be in like, 10 20 deals, right? Like in the next five, 10 years. Like they’re not only having one. you’re in multiple deals that are all kicking off these passive losses. So they all help, like in the big picture of things, right? Yeah. you’re going to pay tax on the recapture money anyway, so you can either pay him later in the future or pay them now.

And are not paying now and that’s what cost segregation as it differs, if it’s a tax deferral strategy. so anyway, what, what else? I love all your pictures there. All the parties you’ve had are all the groups, masterminds and networking groups. It’s fun out there in Hawaii.

Yeah. that’s where you get all these strategies, right? It’s not just like the neck when I read about this stuff in a book, because this stuff changes so quickly, right? Like bonus depreciation is a rather new thing, but that’s, I’m always preaching on develop your network.

Right? Most people, myself included when I started out, the best thing was like listening to the senior worker and to keep it going. That’s absolutely not the guy to listen to for financial advice. Yeah. Finding your peer group of pure passive upgraded investors doing this stuff. And that’s when you’re going to find these still chicks tips like this, just like the, do it yourself, cost sake, which, yeah, again, check it out.

As simple as a casper.com/cost say great for smaller property and mango airport folded on it. Cool bill. appreciate it. We’ll talk a little bit later about some loose. They, the larger ones, largest cost variations, but, yeah. Of you even want to get a hold of you? I’m gonna duct you’re contacting for, if not, they can reach out to me and I can do I’d have to you guys later on.

It’s pretty simple. It’s bill. At ELB cost seg.com. So ELB cost SEG is our firm cost segregation. It’s CLB consulting, but the website ELB costs. So just build an ELB cost side. And my phone number is four zero seven four seven five five four seven. It is my cell (480) 747-5547. Perfect. And, if you guys want to learn how to get these costs, surrogation bonus appreciation stuff.

That’s where the syndication deals come in, get yourself educated, pick up the new, go to simple paths to casel.com/syndication to check out the free guide there and see if the e-courses for you. But we’ll see everybody next time. Thanks very much.

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