To start your real estate journey, get a good financial team who are experts in real estate. That is Joe Viery's advice in this episode of Profit First for REI podcast.

Joe is a cost segregation professional (CSP) and the CEO of US Tax Advisors Group. He has helped property owners keep a lot of money in their pockets by eliminating millions of dollars in income taxes. 

In this episode, he talks about cost segregation, a strategy you must know when you want to buy an old property. More of this topic, listen and enjoy the show!

Key Takeaways:

[00:51 ] Introducing Joe Viery
[06:11 ] Accelerated depreciation
[09:46 ] Redo cost segregation in the same building
[12:44 ] Depreciation recapture
[20:54 ] Joe's advice for business owners

Quotes:

[06:11 ] "As long as you are a US-based paying taxes entity, whether it's a married couple or corporation, you can use accelerated depreciation."
[10:47 ] "We like to see the building before any improvements are done because one caveat... a lot of accountants do not know the world of dispositions."
[15:19 ] "Cost segregation reduces depreciation recapture."

Connect with Joe:

Website: https://ustagi.com/ 

Tired of living deal to deal? 

If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David