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 brigadeGetting scammed and working for a conman
Finding legitimate cost segregation providersUtilizing ASCSP
Helping spread the word to keep new investors from scams
Frank talks about ASCSPFounders 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 sponsorsGroundfloor 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 investmentRenovating 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:
American Society of Cost Segregation Professionals
Marshall & Swift
RSMeans
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
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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.
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