Video Call Property Inspections

Nick describes building a cost segregation business (RE CostSeg) that uses virtual property assessments instead of in-person visits to analyze real estate for tax depreciation purposes. The company reached $250,000 in monthly revenue within 9 months of launching.

Key Points:

• Service Overview:

  • Engineers analyze commercial/income properties via video calls
  • Break down property components for accelerated tax depreciation
  • Create documentation for IRS submission
  • Clients can get 20-70% first-year depreciation (varies by property type)

• Virtual Assessment Process:

  • Property manager does video walkthrough with engineer
  • Engineer takes screenshots and documents key elements
  • Reviews specific components like:
    • Windows
    • Doors
    • Water systems
    • Ground improvements
    • Landscaping

• Business Structure:

  • 23 employees total
  • Engineers located globally (Miami, Colombia, Philippines)
  • Led by former KPMG management consultant as CEO
  • Uses Support Shepherd for hiring overseas talent

• Competitive Advantage:

  • Lower pricing than competitors who do in-person visits
  • 20-30 minute virtual assessment vs. traditional site visits
  • Faster turnaround time
  • More cost-effective for clients

The business demonstrates how traditional in-person services can be transformed into efficient virtual operations while maintaining quality and dramatically reducing costs.