In real estate, you could be a great operator, a disciplined buyer, even a sharp negotiator. But if you're not tax-efficient, you're giving away the very cash flow that you work so hard to create. Aligning your investment strategy with the right team and tools is more important than ever. Tax planning isn't just a defense. It can be one of the most profitable parts of your investment strategy. I'm Kevin Bup, and this show exists to help you make smarter,

more resilient decisions in every market cycle. And in today's environment, understanding

tax strategy isn't optional. It's a core part of building durable, predictable cash flow.

And so at today's show, we're going to be unpacking the following. We're going to talk about

how cost segregation studies actually helps to shape your investment hold periods, the overall business plan of a respective deal, as well as your exit strategy.

We're going to talk about the real audit risk that investors don't understand and why documentation

and financial organization matters more now than ever.

And then lastly, we're going to cover some of the more advanced strategies that top operators

can leverage in their business today.

And to help us break it all down, I'm joined by someone who sits at the intersection of

tax strategy and real-world operating experience.

Kim Lockridge, who is the executive vice president at Engineered Tax Services, which is a firm

that completes more than 800 Cossack studies each and every month. And just a little fun fact

that I'd like to share with you. Kim actually shared this offline before we started recording

that she first invested in mobile home parks after listening to my podcast many years back and

agrees that mobile home parks are one of the most tax efficient real estate investments that

exist. So with that, Kim, welcome to the show.

Thank you so much. It's great to be back. It's been a while. It has been a while. I was looking back. It was like 17 or 18. So many, many years ago, a pandemic ago, right? Lots of changes that have happened over those last seven or eight years. But, you know, excited to have you back here. And, you know, I guess one thing that hasn't really changed all that much is the benefits associated with doing call-stakes study. So it's excited to have that conversation with you here today. And so, but just I guess I'll back it up a little bit for those that aren't familiar with you, Kim. Maybe just, I'm going to throw it back to you for a minute or two. And tell us a little bit of background of yourself who you are and what ETS does.

Yeah, fantastic. I appreciate that. So my name is Kim Lockridge. I'm the executive vice president of engineered tax services. We are the largest specialty tax provider in the United States.

We run cost segregation studies as well as research and development tax credit studies.

And we also do energy certifications for new construction projects.

The basis of this, I mean, I've been a real estate investor since the late 90s. I've been with this

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