Insider Secrets 49 with Brian Goodwin & Geoff Gann

<p><strong>Standout Quotes:</strong></p> <p><span style="font-weight: 400;">"Cost Segregation at its core is a time value of money play" - [Jeff]</span></p> <p><span style="font-weight: 400;">"Basically if you own a property and it's an investment, most likely you're looking at an opportunity to utilize cost segregation" - [Brian]</span></p> <p><span style="font-weight: 400;">"To kind of grow both externally and internally is what I'm looking for" - [Brian]</span></p> <p><strong>Key Takeaways:</strong></p> <p><span style="font-weight: 400;">- Brian describes himself in one word; "Learning", and Jeff describes himself with the word "Education".</span></p> <p><span style="font-weight: 400;">- Simply put, Cost Segregation allows you to get your future tax savings in the present time.</span></p> <p><span style="font-weight: 400;">- The longer you hold a property, the better a cost segregation study will work for you.</span></p> <p><span style="font-weight: 400;">- 2 types of Cost Segregation studies: one for an already existing property and another for properties you're constructing from the ground up.</span></p> <p><span style="font-weight: 400;">- Best resources recommended include LinkedIn for brand management and outreach, HubSpot to manage activity, and the accounting community like CPAs.</span></p> <p><span style="font-weight: 400;">- Making high stake decisions: Brian shares that he goes with his intuition. Jeff's method is to analyze the situation and expected results. </span></p> <p><span style="font-weight: 400;">- Insider Secrets: Educate yourself on cost segregation and see if it makes sense. Also, cost segregation is not just for new properties, it can be done for properties that have been owned for a long time.</span></p> <p><span style="font-weight: 400;">- Brian notes that if you own a property and it's an investment, most likely you're looking at an opportunity to utilize cost segregation</span></p> <p><span style="font-weight: 400;">- You can do cost segregation on just one property, you don't have