Hello everyone. This is Juan Carlos Gastelum. I am a real estate investor in Texas. On February 10, 2022 we welcomed the visit of a cost segregation engineer to one of our properties. An expert in his own field, Mr. Walter O’Connell, from Core Solutions Group based in Michigan, took a direct and physical assessment of our property to determine the depreciable cost which should translate into an enormous accelerated tax break for our partner/investors cost segregation study on this property, and hopefully we will get the benefits from such accelerated depreciation in 2022. Walter O´Connell explained in simple terms that Cost Segregation is reclassifying long term property from 27.5 years to 5 or 10 year accelerated depreciation. “We identify those things that are considered personal property like carpeting or wallpaper cabinetry, and we classify from 27.5 years to 5 years to give you a bigger federal tax savings”. So in 2022 we are expecting an accelerated depreciation tax benefit from an initial tax benefit analysis of $357,000. That equates to almost our total down payment on our acquisition. If you would like to learn more on how this is done, send me a quick email to jcgastelum@onewaytexas.com and I will get back to you for a brief overview. That’s it for now. Take care. Best wishes on your real estate journey and God bless!.
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