Death and Taxes, that's what they say! Vinney goes into everything from single-family to multifamily and explains that in certain states, the taxes are different. Some states have a state tax, and some do not. Which sounds good, but you usually pay more in these states in property tax. The real estate tax is different when you are investing in multifamily. If you are in the multifamily syndication, the taxes to due is based on the type of property, and the value of the property will determine that amount. Vinney explains the right way to buy a multifamily and why. Always pay your taxes through the LLC and never mix with your accounts. The asset value of taxes also known as the "Mill Rate" of the county.
What is the secret of depreciation? Listen and find out…..
- Expenses
- Insurance
- Management companies
- Lead maintenance manager
- Value of the structure
- What are your expenses?
- Exculpated deprecation
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About Vinney (Smile) Chopra:
Vinney is a real estate investor, syndicator, International best-selling author, host of 4 podcasts, multifamily educator, mentor, dedicated husband of over 40 years and father of 2 children-Neil and Monica, residing in Danville, California (near San Francisco) for 40+ years. Vinney came to this country with only $7 in his pocket and a dream. Vinney has now built a portfolio of over 6,500 units amounting to over $650 Million in the multifamily, senior assisted living and hospitality arenas. He is passionate about helping others achieve financial freedom and giving back to our seniors who have given us so much.
Learn more about Vinney: https://vinneychopra.com/
Learn more about investing with Vinney: https://vinneychopra.com/investor/
Apply for Mentorship: https://vinneychopra.com/mentorship/
Vinney's Youtube: https://www.youtube.com/c/VinneyChopra/videos
Vinney's Linkedin: https://www.linkedin.com/in/vinney-smile-chopra/
Vinney's Instagram: https://www.instagram.com/vinneychopra/
Vinney's Free Book: https://vinneychopra.com/freebook/
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