Madison SPECS Review 2024

Pros

• Free feasibility analysis
• Available in all 50 states
• Uses two approaches for accuracy and maximum benefits

Cons

• Does not disclose fees upfront (not uncommon in the industry)
• No additional tax credits or services
• Lack of client reviews

What Is Madison SPECS?

Madison SPECS (Specialized Property Engineering and Cost Segregation) is a cost segregation firm that helps property owners maximize tax savings through cost segregation. The company has an experienced team of in-house engineers, tax experts, and accountants with 100 years of combined experience to provide cost segregation services to its clients.

Madison SPECS cost segregation services are available nationwide, and the company has already completed over 30,000 cost segregation studies. The firm has helped clients lower their tax liability by over $3 billion over the last 17 years.

Madison SPECS Services

Madison SPECS specializes in cost segregation. It uses a unique approach that combines the tax approach and engineering approach for detailed and accurate cost segregation services for clients in all 50 states.

Unlike some other cost segregation companies, Madison SPECS doesn’t offer any additional tax credits or services.

Madison SPECS Fees

Like other cost segregation firms, Madison SPECS does not disclose fees upfront. This is simply because each cost segregation study is unique, and pricing is influenced by factors including the size and the complexity of the property.

In its FAQs, the company does mention that cost segregation studies range between $4,000 and $11,000, although your actual study fees may vary. User reviews, testimonials, and posts in real estate forums like BiggerPockets indicate that Madison SPECS has competitive fees for its cost segregation services. This positive feedback about Madison SPECS is why we gave it a five-star rating for fees.

Madison SPECS also offers a free feasibility analysis. With some basic information, you’ll be provided with a conservative estimate of your tax savings, as well as a proposal outlining the company’s flat fee for performing the study.

Madison SPECS Features

Madison SPECS has a lot of great features that make it a leader in the cost segregation industry. We did deduct some points from our rating for its lack of some features, including a cost segregation calculator and referral program. Madison SPECS also doesn’t offer additional tax services — a factor that lowered its rating slightly.

But if quality cost segregation studies are what you’re looking for, you’ll find that and more at Madison SPECS. Standout features include:

• Free Feasibility Analysis: Madison SPECS will perform a free feasibility analysis to determine if you qualify for cost segregation and the potential benefits of completing a study. You’ll receive the analysis and a proposal that includes the fee for the study and a timeline for completion.
• Smart Tour: A unique feature of Madison SPECS is its Smart Tour technology. An on-site employee at your property will receive a Smart Tour kit, which includes video and digital equipment. An off-site engineer will assist in capturing property components for a quick, easy, and non-intrusive study.
• In-house Engineers: Unlike cost segregation firms that hire outside engineers, Madison SPECS has 20 in-house engineers with experience in cost segregation studies.
• Experienced Team Of Professionals: Madison SPECS has a team of over 60 professionals with over 100 years of combined experience in cost segregation.
• Works With Companies Of All Sizes: Unlike companies that only work with large businesses, Madison SPECS performs cost segregation services for small companies, real estate investors, property owners, and more.

Madison SPECS Customer Service

Madison SPECS provides multiple ways to get in touch. Potential clients can get the ball rolling with a feasibility analysis by filling out an online form. The company can also be reached by phone or email. The “Help Hub” on the company’s website provides clear answers to frequently asked questions about cost segregation.

Customer service is also responsive and helpful. These factors combined led to our near-perfect rating for customer service.

Madison SPECS has online social media profiles on LinkedIn and Facebook, although the Facebook page is not regularly updated.

Since our last review, Madison SPECS’ website has undergone a complete overhaul, making its services and resources much easier to access.

Madison SPECS Reviews

Most cost segregation companies don’t have many online reviews, and Madison SPECS is no exception. Save for a handful of positive testimonials and recommendations through real estate forums, it’s difficult to find client reviews of this company. This lack of customer reviews led to our low score for Madison SPECS in this area.

Still, it is a good sign that there aren’t many negative reviews, and the testimonials posted (both on and off the Madison SPECS website) paint the company as one that has a good reputation and provides quality work for a competitive fee.

Madison SPECS Complaints

It is difficult to find Madison SPECS reviews online and even more difficult to find negative reviews. There is a negative review on Yelp that first praises the company’s pricing but felt the study was too conservative in its first-year tax savings. The reviewer was also displeased that Madison SPECS did not physically come to the property.

While I can’t speak on the amount of bonus depreciation able to be claimed following the study, I will say that Madison SPECS is clear about how its studies are performed using its Smart Tour kit.

Positive Madison SPECS Reviews

In their testimonials, clients praised the company for:

• Fast and efficient cost segregation studies
• Knowledgable and responsive team
• Competitive fees
• Maximum tax savings

Is Madison SPECS Worth It?

As part of Madison Commercial Real Estate Services, Madison SPECS has built a reputation in the real estate industry for its comprehensive yet affordable cost segregation studies.

By combining engineering and tax approaches, along with using technology like its Smart Tour kit, Madison SPECS has completed over 30,000 cost segregation studies for properties of all sizes nationwide.

Madison SPECS checks all the boxes, but you can see if it’s the right cost segregation company for your unique needs by signing up for a free feasibility analysis. If you’re still on the fence, check out our top picks for the best cost segregation services.

Cost Segregation Review Methodology

We spend hours researching and evaluating each cost segregation company we review at Merchant Maverick, placing special emphasis on key characteristics to generate our service provider ratings.

When rating cost segregation companies, we use an 18-point rubric that looks at features, fees, customer service, and user reviews. We weigh each section differently to calculate the total star rating.

• Features: 50% of the total star rating
• Fees: 35% of the total star rating
• Customer Service: 10% of the total star rating
• User Reviews: 5% of the total star rating

Each section is further broken down into granular, weighted subsections, in which we look at specific attributes, like whether a free initial analysis is available, which cost segregation resources are offered, and availability in all 50 states.

Learn more about how we rate cost segregation companies.

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