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All Forum Posts by: Yonah Weiss

Yonah Weiss has started 65 posts and replied 1373 times.

Post: Short term rental tax planning

Yonah Weiss
Posted
  • Cost Segregation Expert and Investor
  • Lakewood, NJ
  • Posts 1,416
  • Votes 1,521
Originally posted by @Stephan Nemeth:

Hey BP,

I have converted a couple long term rental units to short term in 2017 and plan to convert several more in 2018.  I was hoping to get in touch with a CPA to work on some tax planning for 2018 as well as get a better handle on 2017.  I am in Atlanta, GA but haven’t come across any knowledgeable resources yet, any recommendations would be greatly appreciated.  

Thanks in advance,

Steve Nemeth

I could recommend Roc Hayslip in Atlanta. As well as Michael Silver, at Hermansilvercpas.com

Post: New Member Greater Detroit Area

Yonah Weiss
Posted
  • Cost Segregation Expert and Investor
  • Lakewood, NJ
  • Posts 1,416
  • Votes 1,521

@Paul Yousef The benefit of cost seg is dependent on the amount of '5-year' property (i.e. non-structural components in the building) that can be identified, 'segregated', and accelerated. As well as '15-year' land improvements, to simplify things.

That being said, we have done cost seg studies on every fathomable type of property. Those that rank the highest in maximizing tax benefits are: Golf courses (that's right!), heavy industrial, office buildings, nursing homes/assisted living facilities.

I would be happy to send you some more info, feel free to PM.

Best of luck!

Post: Need to place $2.5M of 1031 within 30 days

Yonah Weiss
Posted
  • Cost Segregation Expert and Investor
  • Lakewood, NJ
  • Posts 1,416
  • Votes 1,521

$2.5MM of 1031- need to ID within 30 days of today. Will put debt on to buy larger. Seeking cash flowing mutli-family or mixed-use, within tri-state area and possibly beyond. Would consider an investment with a best in class sponsor/operator. Please advise.

This is for a client of mine.

(323) 395-2734 yonah [email protected]

Post: CPA in the Metrowest area?

Yonah Weiss
Posted
  • Cost Segregation Expert and Investor
  • Lakewood, NJ
  • Posts 1,416
  • Votes 1,521
Originally posted by @Julia Ann:

Does anyone have a recommendation for a good CPA in the Brookline area?

Thanks!

 I can highly recommend Izzy Zuber in Brookline you can google him or PM me for details.

Post: New Member Greater Detroit Area

Yonah Weiss
Posted
  • Cost Segregation Expert and Investor
  • Lakewood, NJ
  • Posts 1,416
  • Votes 1,521

@Paul Yousef I f you invest in a property, one great way to save on taxes is through accelerated depreciation (cost segregation) on that property. This method allows you to make very large depreciation deductions from your property, to offset your income tax.

Post: RE familiar CPA in Rhode Island

Yonah Weiss
Posted
  • Cost Segregation Expert and Investor
  • Lakewood, NJ
  • Posts 1,416
  • Votes 1,521
Originally posted by @Christian Allen:

Hey everyone,

I'm looking for suggestions for a CPA in the Rhode Island area who is familiar with the tax strategies of real estate investing.  I currently own 3 multifamilies that I have purchased in the last year and a half and need some help planning for the upcoming tax season.  I live in Providence but would be open to professionals in the surrounding towns or someone who can work well remotely.  

Hi Chris, you should try Moshe Goldin at http://www.bfmmcpa.com in Providence. Very experienced in REI.

Post: 96 units Multifamily deal/ looking for equity partners

Yonah Weiss
Posted
  • Cost Segregation Expert and Investor
  • Lakewood, NJ
  • Posts 1,416
  • Votes 1,521

I work with a firm that represents hundreds of high net-worth individuals and places equity for good deals being purchased by experienced sponsors. If you fit those two criteria, please PM me to find out more info.

Post: Equity Available for Multifamily Deals

Yonah Weiss
Posted
  • Cost Segregation Expert and Investor
  • Lakewood, NJ
  • Posts 1,416
  • Votes 1,521
  • Looking for a particular type of investor, but don't know where to find him?
  • Wish you could hire a team of well-connected CRE professionals to help you raise equity and package your deals, but can't justify the cost?
  • Sick of paying high commissions that eat so heavily into your profit?

We raised $100M in last 10 month for multi family properties.

Welcome to the Equity Division of one of the Nation's Largest Commercial Mortgage Brokerages 

With hundreds of vetted investors in our growing database, we have become the trusted source for sponsors seeking accredited investors who share their particular investment appetite.

Our equity team will show your deal to specifically matched investors from our vast network of high net-worth individuals, and will arrange for you to be introduced to those investors who express a high level of interest in investing in your deal.

Aside from the uniqueness of focusing on LP money, our pricing model also plays in our clients' favor. Instead of charging commissions for the equity, we offer you the option to pay our equity team for their time and introductions so that you can expand your network of investors. 

Potential sponsors please be prepared to provide resume/experience. (Unfortunately inexpereinced investors will be turned away)

Call (323) 395-2734 or email [email protected] to learn more.

Post: Can I have 2 different accountants?

Yonah Weiss
Posted
  • Cost Segregation Expert and Investor
  • Lakewood, NJ
  • Posts 1,416
  • Votes 1,521

The advantage of having an up-to-date RE accountant, is that they can help you strategize utilizing tax benefits, that a non-specialist may not even be aware of. As you grow your portfolio, this may handicap your investing potential. 

Take for example accelerated depreciation (cost segregation). Many non-RE specializing accountants, and even many "RE specializing" accountants are not utilizing this cash-flow mechanism for their clients; Thereby, causing unnecessary tax liability. 

Post: Trying to find companies that Underwrite

Yonah Weiss
Posted
  • Cost Segregation Expert and Investor
  • Lakewood, NJ
  • Posts 1,416
  • Votes 1,521

@Jason Cohen These two companies are subsidiaries of a company I work for Madison Commercial Real Estate Services.

Check out LeaseProbe • Lease Abstracting & CAM

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