I’m upgrading several of my single-family homes now to multi family properties, so if anyone out there needs any tips or help with a 1031 exchange let me know because I’m right in the heat of it and it’s a great tool to have in your belt.
Yes. Great way to leverage past investments to multiply your next worth.
@Tyler Williams . I am all ears. Pls share
You bet, I’ll keep you posted - in the early stages now.
what about engineering cost segs?
full disclosure that's what i do...
Is love to learn more. What are Engineering cost segs?
We just did a cost seg on my commercial building and it was great.
congrats tyler! Here you go hope this helps!!
Cost Segregation is a tax strategy that helps commercial & residential property owners reduce their tax liability by accelerating the depreciation on fixed assets. An engineering based study Is the most detailed and will get you the most the maxium tax savings.
investor bought small 6 unit apartment complex purchased 1/18
purchase price $1,885,800, of which $1,131,480 is the building being depreciated
Owners 2019 depreciation expense:
$32,573 - without the study
$502,313 - with engineering based study!!
The real issue here is time. Why should an have to wait 27 1/2 or 39 years?
Well with call segregation you don't!
Let me know if you want more information on this I can sit here and talk about it all day :)
Thanks for sharing with us @Tyler Williams !
I recently did a cost segregation study on my commercial building and it helped us save all alot, but I didn’t know it could be done on residential real estate as well.
How does it work if I’m buying an existing residential property?