The Dirty Secrets of Cost Segregation with Frank Giudici
The Dirty Secrets of Cost Segregation with Frank Giudici
The Dirty Secrets of Cost Segregation with Frank Giudici
Frank Giudici is a native New Englander who graduated in 2004 from a top-ranked engineering school in Massachusetts as a civil engineer. He started his professional career in the Construction Management industry, which exposed him to the designing, procuring, scheduling, and building of CRE across the country ranging from high-rise apartments to office buildings to semiconductor facilities. After 14-years in the Construction Management industry, Frank turned his sights to the world of Cost Segregation…a fluke move that could not have resulted in a better fit. He is now the Northeast Business Development Director for one of, if not THE, largest independently-owned Cost Segregation provider in the country and loves the value-add insight he provides to clients on a daily basis!
[00:01 - 06:13] Opening Segment
- Frank’s journey from school projects to real estate
- Looking for a change and stumbling on cost segregation
[06:14 - 15:57] The Dirty Secrets of Cost Segregation
- Frank shares about his truth brigade
- Getting scammed and working for a conman
- Finding legitimate cost segregation providers
- Utilizing ASCSP
- Helping spread the word to keep new investors from scams
- Frank talks about ASCSP
- Founders versus Fraudulent Cost Segregation Community
- Being a CPA is not enough.
- What it Takes to be a Cost Segregation Provider
[15:58 - 25:47] Cost Segregation Providers
- Where new cost segregation providers go wrong
- What can be segregated versus what can’t
- It’s not always common sense!
- Frank talks about unit pricing to make results skyrocket
- Opening people’s eyes in decision making as a cost seg provider
- Cost segregation providers are not just commodities.
[25:48 - 37:35] Closing Segment
- Quick break for our sponsors
- Groundfloor offers short-term, high-yield real estate debt investments to the general public. Check www.passivewealthstrategy.com/groundfloor/ to get started.
- What is the best investment you've ever made other than your education?
- $500,000 worth single family home
- Frank’s worst investment
- Renovating his first multifamily too much
- What is the most important lesson that you've learned in business and investing?
- Do your due diligence
- Connect with my guest. See the links below.
Resources Mentioned:
Tweetable Quotes:
“There’s a lot of con artists and fraudulence out there in the industry.” - Frank Giudici
“Being a CPA doesn’t cut it. Just because you’re a CPA, doesn't mean you can open a cost segregation firm.” - Frank Giudici
“Numbers can be manipulated to the nth degree to make the estimate work.” - Frank Giudici
------------
Connect with Frank through [email protected], LinkedIn, and https://www.bedfordteam.com/
Invest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/
Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.
