Ep #230: Cost Segregation Explained - with Kimberly Lochridge

Real Estate Investing for Cash Flow with Kevin Bupp

Kevin Bupp

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4.9 • 675 Ratings

🗓️ 21 May 2019

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of the Real Estate Investing for Cashflow podcast, Kevin, along with his business partner at Sunrise Capital, Brian Spear, talk cost segregation with Kimberly Lochridge. Kimberly is the Executive Vice President for Engineered Tax Services, Inc. (ETS), an industry-leading provider of specialty tax services in the United States. Kimberly’s business management skills have positioned her as a big-league tax expert for Fortune 500, ultra-high net worth individuals, single and multiple family offices, architects, engineers, and CPAs nationwide.

In this informative conversation, Kimberly explains what cost segregation is and how it can help businesses. She also answers frequently asked questions asked by Brian to separate fact from myth surrounding cost segregation. The guests also present and discuss a case study to further shed light on how cost segregation works and tackle other topics pertinent to this business practice.

QUOTES:

“The difference between the 1040 and a 1040 EV is that the EV is the straight line or what you call the standard deductions and your 1040 is the itemized deductions, well, cost segregation is the 1040 for real estate..”

“Essentially when you sell a building, you’re taking what you sold it for minus whatever the purchase price was, which is your gain, but you also have to add in to that gain your accumulated depreciation.”

“There are different types of cost segregation studies and as you dig into this, you’ll have engineered based cost segregation and that’s where we actually rebuild the property from the ground up.”

“I think of the CPA as the family practice doctor and EPS is the brain surgeon.”

“When working with a third party property management company, you need to ensure that they have the information at the ready so that when they do those capital expenditures and do those capital improvements on your behalf, they’re actually handling the depreciation appropriately.”

HIGHLIGHTS

4:20 Kimberly’s background
7:54 Kimberly explains cost segregation
11:13 FAQs about cost segregation
23:14 Brian and Kimberly tackle a case study
33:31 What is the DEERA report?

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Recommended Resources:

Check out our company and our partnership opportunities by visiting SunriseCapitalInvestors.com
Would you like to partner with us on future MHP deals, call 844-CASH-FLW to learn more or click here to schedule a time on our calendar.
Grab a free copy of our book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them click here
Download our Cost Segregation Study
Visit www.engineeredtaxservices.com

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Transcript

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0:00.0	You've been searching for the best way to generate passive income in your life and heard that real estate is a great way to do it.
0:09.4	But you're tired of all the so-called gurus who are all talk and no substance.
0:15.2	Get ready to celebrate because Kevin Bup has spent 14 years successfully making it happen.
0:21.6	This is the Real Estate Investing for Cash Flow podcast.
0:25.2	Now, here's Kevin Bup.
0:31.7	Hey guys, Kevin Bup here.
0:33.0	I want to welcome me to another episode of the Real Estate Investing for Cache Flow podcast.
0:36.7	We're missions to help you build and maintain massive amounts of cash flow through
0:40.8	income producing real estate investments.
0:43.4	Our guest to this week's show is Cost Segregation Expert, Kimberly Lockridge.
0:47.5	Kimberly is the executive vice president for engineered tax services, Inc., an industry-leading
0:52.0	provider of specialty tax services in the United States.
0:55.4	Kimberly possesses a powerful combination of real-world business management skills with a fundamental
0:59.5	understanding and practical application of tax codes as it relate to real estate and energy
1:04.3	efficiency incentives. This knowledge and experience has uniquely positioned her as a big league
1:09.7	tax expert for Fortune 500,
1:12.1	high net worth individuals, also high net worth individuals, single family and multifamily offices,
1:17.2	architects, engineers, and CPAs worldwide. In addition to her, a role as EVP at Engineer Tax Services,
1:23.2	Kimberly also serves on the Investment Council for a private family office where she reviews
1:28.0	potential opportunities and co-investments for the family's portfolio. This activity has earned her a seat
1:33.7	on the tax committee for the Washington, D.C. based real estate roundtable group as well as a
1:38.3	variety of board positions. So guys, I'm very excited to have a candid conversation with Kimberly
	...

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