Ritter on Real Estate What You Need To Know About Cost Segregation With Yonah Weiss
In today’s episode of Ritter On Real Estate, we chat with Yonah Weiss. Yonah is a self-described “powerhouse” when it comes to helping property owners with tax savings. As Business Director at a national cost segregation leader, Madison SPECS, Yonah has assisted clients in saving tens of millions of dollars on taxes through cost segregation. Over the past 15 years, Madison SPECS has done over 16,000 cost segregation studies covering all 50 states, resulting in over $3 BILLION in tax savings. In addition to helping investors save on their taxes, Yonah is the founder of Real Estate Connections a virtual meetup group hosted every Wednesday at 7 pm EST which allows individuals to learn and network with other multifamily experts. Welcome to the podcast Yonah!
Key Points From The Episode:
- Yonah’s background & upbringing/ his passion for helping others.
- Starting his career as a teacher, then transitioning to real estate.
- Why real estate investing is a great vehicle for wealth building.
- The importance of having a growth mindset.
- Understanding that passive investing still requires being active.
- What is cost segregation?
- The role cost segregation plays in real estate investing/taxes.
- Bonus depreciation laws explained.
- Offsetting taxes in Real Estate Deals.
- How networking positively impacted Yonah’s life and business.
Books Mentioned:
- Jab, Jab, Jab, Right Hook By Gary V.
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Production by Outlier Audio