Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we dive deep into networking and relationship building with our great returning guest, Yonah Weiss. Yonah is one of the best connectors in the CRE space and an expert in cost segregation. We talk about community building, mitigating risk, and the newest changes in cost segregation.
Learn more about Yonah and his story at shineinsurance.com/managing-commercial-real-estate-risk!
“Platforms like LinkedIn are a great way to put yourself out there, create a brand that people recognize, and continuously add value.”
At the beginning of the conversation, we talk about building relationships and growing our network. Yonah has always been a good connector and enjoyed meeting people, so building community has always come to him naturally. He shares his best pieces of advice on how to be a good connector.
- Learn how to be a good listener because that is the most important skill in networking.
- Actively engage with other people’s content on social media, especially on LinkedIn.
- Provide value on your social media consistently.
“Risk is very malleable because it changes based on your level of knowledge.”
Yonah talks about the biggest risk he took that changed his life. He moved from the United States to Israel 22 years ago, without knowinf anybody. He’s been working remotely ever since.
This experience taught him to not be afraid of taking risks. According to him, risk can always be mitigated by learning more about the topic.
“The biggest risk for anyone in commercial real estate is the uncertainty of market changes.”
At the end of the episode, we talk about Yonah’s expertise – cost segregation. Cost segregation is a tax strategy for real estate investors that allows them to accelerate their depreciation deductions to a faster pace.
Yonah talked more in-depth about cost segregation in a previous episode. A big change since then is that the “100% bonus depreciation” option ends in 2022 and will start to phase out by decreasing 20% each year for the next several years. What that means is you will no longer be able to take 100% of those accelerated deductions in the first year, you’ll only be able to take 80% of them.
About our Guest, Yonah Weiss
Yonah is a powerhouse with property owners’ tax savings. As Business Director at Madison SPECS, a national Cost Segregation leader, he has assisted clients in saving tens of millions of dollars on taxes through cost segregation. He has a background in teaching and a passion for real estate and helping others.
Mentioned in the show:
- His LinkedIn
- Jeremy’s LinkedIn
Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/
Special thanks to Yonah Weiss for taking the time to share so many great insights with us
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