All Forum Posts by: George Taylor

Quote from @Michael Plaks:

Quote from @George Taylor:

If you don't work for Bigger Pockets, then why did you feel the need to address my post? 

Because I'm old school. Some other people might choose to report you. Not me. I confront the offenders myself. Rules are for everyone. I follow them, and you should, too. If you tried to cut the line in front of me or park on handicapped, I will also confront you. Enough of this exchange.

Old school and wannabe bully are two different things. Confronting through a direct message is old school, calling me out on the thread is a move made by someone looking to embarrass me and make me feel like I'm an "offender" when I never offered a service to someone. Also to try and bully me out of the entire cost seg threads. Again, I actually work for a cost seg firm. Do you typically try and bully someone and then back down when actually confronted on it? Because I can discuss this all day long with you. You're like someone who honks at a car for driving the speed limit and then looking away when they pull up to next you at a stoplight. 

If you don't work for Bigger Pockets, then why did you feel the need to address my post? Just about everyone in this thread has referred someone or offered to refer someone. What you did was ridiculous and if your feelings are hurt that much that you want to try to bring negative attention to me, who is newer to the community, then just report me and be done with it. I'm not going to back down to you because Cost Seg is what I do. I never offered him my services, I told him who I worked for and offered to have a conversation. 

Quote from @Michael Plaks:

Which is a blatant violation of Bigger Pockets rules 

Haaaa, give me a break. You can refer 3 of your friends but try to call me out for reaching out to Jason directly because I actually work for a cost seg firm? You are ridiculous. I didn't realize this community was only for people in the good 'ol boys club. 

Quote from @Jason Coleman:

Does anyone have a trusted contact in North Carolina to perform a Cost Segregation Study? I have 3 properties I need assessed in the next 2-3 months. Located in Greensboro NC. Thanks. 

 Hi Jason, I just messaged you. I'm with CSSI and would be happy to discuss if a cost segregation route makes sense for you. Thanks.

Quote from @Corby Goade:

Already plenty of good advice above, but there's one piece that is missing. 

Does a cost seg or bonus depreciation actually help you in any way? You need to have the income and tax liability to support the depreciation. In my experience, 75% of the time, the tax payer doesn't have a large enough liability to justify the accelerated depreciation anyhow- depending on your income and tax bill, it might not matter at all. As a matter of fact, you might be losing future depreciation by accelerating it now. 

 Cost segregation and advancing depreciation has its pros and cons depending on what the individual investor's goal is. It works for some and not for others. I have clients who are increasing their cash flow by between $19k and $55k and their cost basis is between $145k and $200k. It really does depend on timing of being put in service, that bonus it qualifies for (if any) and the life cycle of the elements that can be advanced. 

A con would be that a cost segregation strategy was implemented, and the investor sells it within 5 years with no intention of doing a 1031. If that investor hadn't planned it carefully and re-invested that money into the property or even the purchase of another then a recapture fee would hit them hard. 

On the other hand, pros include increased cash flow, engineer-based data for the clients CPA, audit protection (with the right firm) and the ability to deflect that recapture fee with a 1031 transaction. I'm with CSSI and we've completed over 45k studies, and this is what we specialize in. 

Best thing on looking for info on a cost segregation study is to go directly to a firm that specializes in it. You'd be amazed at the number of CPAs that I come across who have never even heard of this strategy and are doing their clients an injustice. We run a free predictive analysis for anyone that wants one to see if it even makes sense for them and approach it in a consultative manner and we welcome our clients to have their CPA's join the conversation.

I'm not an expert in this field, yet. However, what makes sense for one might not for the other. Hope this helps. 

I've just had a conversation yesterday with a client of mine to add cost segregation to her sax strategy. Her and her husband both have corporate full-time jobs, own several condos, manager other properties, and own their own PM company. It can be done, I'm just not able to contribute much more than that. 

All I can say is since they are adding cost segregation to their tax strategy, before too much longer, they'll be able to get into their first MF investment. 

Hello Everyone,

I'm glad to be back as part of this great community and to be able to bring value to add to it. My name is George, and I'm located in the D.C. area. I work with CSSI who are the nation's premier engineer-based cost segregation firm with over 45k is completed studies.  Whether you are interested in learning more about if cost segregation is the right tax strategy for you or you are looking  for the best firm to complete your studies We are here and can also discuss referral partnerships, speaking engagements, providing CPA's with CPE credits, bringing value to your clients and/or students or you just want a free predictive analysis to get an idea of what your options are with your property. 

Thanks again and I look forward to interacting with many of you!

If anyone here is interested in learning more about advancing depreciation through an engineer-based cost segregation study feel free to reach out. I'm with the nation's premier cost segregation firm here at CSSI.