Ep 61: Cost Segregation and the Power of Social Media with Yonah Weiss
Updated: Jun 15
You may or may not have heard of cost segregation, but do you know what it means? Today’s guest is Yonah Weiss, Business Development Director at Madison SEPCS, and he’s going to tell us all about it! Essentially, cost segregation is a strategy that commercial real estate investors use to maximize tax savings through bonus depreciation but, in this episode, Yonah debunks the myth that these tax benefits are only for multimillion-dollar developments, and tells you how to put it to use in your real estate investing business. Yonah goes into detail about cost segregation studies, who can and can’t employ it, and the types of properties that are most ideal. We also talk about social media, specifically LinkedIn, where Yonah has carved out a very successful niche for himself. We discuss organic reach, SEO, and networking, and Yonah gives us some practical advice on how to grow our connections with the right people for maximum benefit. Don’t miss this episode!
Key Points From This Episode:
Yonah introduces himself, where he’s from, what he does, and how he got into real estate.
Yonah explains exactly what cost segregation is and how it works.
What components you can deduct separately and their effect on depreciation.
Yonah gives an example based on a $100 million multifamily property over 5, 10, 15 years.
Paying a third party to help you with cost segregation will reduce your audit risk.
Yonah debunks the myth that cost segregation is only for multimillion-dollar developments.
Why mortgages and debt services don’t affect cost segregation.
Using deductions for depreciation to offset income from the property, but also other income.
Who can and can’t use cost segregation for real estate investment or business properties.
The SEO power of social media platforms like LinkedIn and how Yonah got started.
The difference between LinkedIn and other social media and why Yonah prefers LinkedIn.
The organic reach of LinkedIn and why you should have a professional profile.
The importance of doing your research and tailoring your content for each social platform.
Yonah suggests using platforms with organic reach, like LinkedIn and Bigger Pockets.
Where to find and connect with Yonah, including his upcoming podcast, Weiss Advice.
“Component depreciation is another name for it. It’s depreciating the property according to its different components” — Yonah Weiss [0:09:00]
“One of the main values of cost segregation is the time value of money. It’s taking those deductions earlier on” — Yonah Weiss [0:30:02]
“I see LinkedIn as a place, not just to put out content… but a place to really meet new people who you want to do business with. Potential clients, potential investors, potential business partners, like you would at any other networking event” — Yonah Weiss [0:35:24]
Links Mentioned in Today’s Episode:
Get in Touch
Interested in Investing With Us? Click Here
Connect with Chris - https://linktr.ee/chrisgrenzig
Toro Real Estate Partners - http://tororep.com/
The Real Estate Investing Experience - https://www.thereiexp.com/
The REI Experience YouTube - https://www.youtube.com/channel/UCjt6pmkA8ogACZ26oqhBM0g
The Real Estate Investing Experience Podcast - https://podcasts.apple.com/us/podcast/the-real-estate-investing-experience/id1481520260