(Secrets Revealed) How The RICH Build MASSIVE WEALTH Without Paying Taxes! | Whiteboard Finance
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- Опубликовано: 8 июл 2023
- WATCH PART 2 - • (Part 2) How The RICH ...
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WATCH PART 2 - ruclips.net/video/O57KKqCGkEM/видео.html
😊
Part two with the debt 🤜
I assume you'll address this in part 2, but the interest on the debt you use as income is not tax deductible (since it is not being used to purchase an income paying investment). Hence you pay interest with "after tax" dollars (if that still makes sense in this scenario). And so the interest on that "debt as income" is compounding and must be repaid with "after tax dollars". I'd suggest it needs to be made clear this is a sophisticated and potentially risky strategy. You are reliant on the bank continuing to extend you money to fund your living expenses. And bank policies change all the time.
100%. That so called "Tax Free Money" is BS. Its not tax deductible and higher interest rate.
Additionally - and im not sure how this slips past people - the loan still has to be repaid. It is not "free money" you need a tenant/rent/other income that can sustain the repayments for the duration of the loan. But if you can do this... Why would you take the loan in the first place...
As well as that investment now becoming a ‘mixed used assets’
Spending equity is REALLY risky. It’s a house of cards that will come tumbling down as soon as there is a slowing of growth; or a rise in interest rates; or a vacancy etc. Refer the sub-prime scandal of 2008.
The REALLY wealthy rely on cash flow (like rent), rather than capital growth.
The bulk of capital growth usually offsets little more than inflation devaluation.
Receiving income (like rent) in a business (rather than your personal name) offers MANY opportunities to be more tax efficient.
He’s going to suggest selling the property at some future point to pay it all off. Then you gotta pay CGT and you’re on a one way trip to poverty. You’ve just spent your assets to put food on the table. Insane
Definitely interested in part 2!
Thanks Ravi, this is a door I didn't even know existed. I have learnt so much from you over the last year - Thank you so much for making these videos!
Awesome video! Part 2 please!
Awesome, keen for part 2
Part 2 please Ledg love you work!
Now you got me hooked Ravi!!! Part two please 😊
Definitely interested in part 2.
Fantastic video thing waiting to listen to the video that explains this so simply for two years now thank you and I look forward to part two
Part 2 with the Debt please This is very informative
The best financial advice I ever heard. Never believe any advice from someone that doesn't have at least 100x what you have.
This guy definitely doesn’t have 100x what you have
Fascinating - keen to hear what happens in part 2!
Bankruptcy
Newly subscribed thankyou for making this stuff understandable 👍yes please to part 2👍
Definitely would like to watch part 2 of this video
Part 2 with the debt, please. (Thank you for this video 😊)
Thanks Ravi for explaining this strategy.
I know you aren't telling everyone to go and do this.
It's great to by educated in many different investment options. After all, Knowledge is power. . . .
👍
Interested in Part-2.
I came to Australia just 4 months ago. Now, I am processing my PR. Once I get the PR, the first thing I am gonna do is invest in properties.
Part 2 please.
So if you used this strategy, and your investment property is positively geared even with the equity loan, your tenants are basically paying for your income. Is that right?
Great video, of course part two with the debt!
Dear, I think you can’t use your investment loan equity for personal use and if you do then interest on that line of credit loan is not tax deductible. Please correct me if I am wrong
great video !
This has worked wonderfully in the last 30y with dropping interest rates. Would that work in the same way with interests going up?
This was some thing that Jan Sommers came up ages ago. It all works in hindsight.. until it doesn’t anymore. Super risky and definitely NOT what the rich are doing. The rich have a proper income and equity, they are not living their life by withdrawing equity from their assets
Part 2 🎉🎉🎉 with paying down debt please!
Part 2 please!
looking forward to part 2
Part 2 us mate!!
Can you do a video on the business part mentioned at about 2 minutes please?
Part 2. Please 🙏
Interested in part 2
Part 2 with debt please and thank you 😊
Part 2 debt.. thanks Ravi
The word 'mortgage' actually has its roots in the Latin language, specifically from two words: 'mortuus' meaning 'dead' and 'gage' meaning 'pledge'. So, when you break it down, a mortgage can be seen as a 'dead pledge'.
Bring us part 2!
@Ravi, not understood when you are getting minimal income, how can you invest with that come or do u mean invest with company income? In that case it is the company asset and you cannot avail it straight away.
Don’t ask such hard questions
Bring on part 2
Part 2 please ❤
Part 2!!!
When you top up against equity will the bank look at how will you service the new increased loan?
Of course they will
@ravi, this may have been asked already , I’ve watched this video and the part 2, your saying you can potentially pay yourself an income tax free with a possible equity loan you get off a house , and use your taxed money for other investments etc , but once you use your equity you have access to you need to pay off your equity anyway .. at a interest rate so either way If you use equity to pay yourself it may not be taxed but now you have a larger loan / repayment you have to find money for ..
He can’t talk about that. If he did his video would make no sense
hanging for part 2
100% part 2!
Part 2 asap!!
Part two please 😊
Part 2 please.
Part 2 please
Part two let’s go
Part two please
If you actually grasp the idea on this video it is the secret sauce. Great quality vid man. It is basically the summary of Robert Kiyosaki's book 'why the rich are getting richer'.
It’s the secrets sauce to bankruptcy, Koyosaki makes money selling books
I have question-do you buy the investment property under the business name or the personal name? How would you have borrowing capacity if all the money is under company?
You wouldn’t
I am guessing part 2 has to do with investing in properties with the 90K and doing it over again
Property property property always
It’s easy
Just buy good property as much as your borrowing power allows, and bank allows but this system you will come across your limit. Reaching 3 properties is not that hard but after 4 properties, it’s really difficult unless your mum papa give you heaps of cash for it
Choosing good properties and increase your borrowing power is the key
Part 2 with the debt please
Part 2 please Sir
yeah definitely part 2 required :)
Part 2 asap 😉
woulkd be interesting to know how it works if one is self employed as there are always more hoops to jump
part 2, please ?
Part 2, debt please!
Part two, please
Part 2 🙏
Part 2 with debt...please
Part 2
part 2 with debt please
part 2!!!
Part 2!
There’s no such a thing as retirement. In this era, you just need to accept that you change focus over the years. But you keep earning and making contributions back to the wheel of economy. Retirement is a fallacy we’re offered to really stop being productive.
Part 2 with the debt
Part 2 Debt please
part 2 debt please 😊
Part 2 with the debt! Part 3 how to get youtube algorithm working with comments for side hustle lol
But seriously Part 2 please 😂
Part 2 !!
Part 2 🤞🏻
Easy. Just learn the tax laws. Anyone in Austrakia can be the most wealthy in the country. We have no social or legal laws stopping us. They also have access to financial planning and tax advice.
You only have tax problems when you can earn massive amounts of money. Good luck with being top 1% income earner
I heard a Economics professor explaining that the rich get a 80k accountant and a 100k lawyer for litigation against the ATO. all are tax deductible
What car does your economics professor drive? That will tell you lots about him
The equity i take out will count as capital gains?
Nope because it is “debt”therefore you never made a capital gain. as it is a debt and the rental income will cover the loan repayments
Sure it will, if you own it outright and borrow 10% of the value. But what do you do in year 2?
Are you afiliated with reeba?
Part two with debt please Ravi lesssgo
Part 2 boyo
Part 2 with the debt 💸
In part 2 can you please answer.. if you use equity as tax free income.. is it classed as income for a loan application. How does one get 5x $400k houses only using equity as tax free income? Furthering debt
Only in fairytales
Part 2. I am still missing the part on how to pay back the equity
He will say “sell it” to pay it back
Interest will be no longer be deductible on equity portion taken out for personal expenses
Don’t ruin a good story with facts
Part two with the debt
In principle this is a terrible idea - It heavily relies on appreciation of the asset and you are glossing over the fact that the borrower pays interest on the equity that they extract from their loan. It also relies on the borrower making sound investment decisions (accordingly, taking on more risk) OR in the example you used, they pay themself an "income" and simply add to the debt as the years roll on (assuming they can service/are still working/earning a TAXABLE income). Given the present environment with upward pressure on interest rates that are showing few signs of abating, this video is out of touch and misleading to those that are still learning about managing their finances.
Couldn't agree more. I reckon it's intellectually dishonest of him to say that debt is tax-free and thus results in a higher purchasing power while ignoring the fact that: 1) it attracts borrowing costs; and 2) the borrower will eventually need to work his/her way to pay off the debt.
there are signs the interest rate have reached the peak so if you can afford it, youll get in. In the next 18 months there are approx 750k-1m immigrants coming. There is no doubt we are heading for big Australia
@@thefire-nanceguy4440 Possibly - I think there are further rate increases in store - Also the fixed rate cliff is kicking in now - Investor sales are up 6%. We could see a flood of supply on market. That supply could well be gobbled up by those immigrants, though.
Part 2 with debt.
Property 1: your borrowed 400k, Property 2: you borrowed again 400k. You borrowed 800k. The bank won’t let you borrow more than 1.2million, there is a loan cap, how can you repeat for 5property?.
Part 2 with debt
Part two with debt 🙏
PART 2!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! please
You are still paying interest on that equity drawn.
Part two with that
Doesn't quite make sense to me at least as to have borrowing capacity, you still need an income so you actually can't just stop working.
You actually have a thinking brain
Part two with debt
Part two with debts
Part 2 debt
Part 2 please. You sound like Robert Kiyosaki 😄😄
Step one with kiyosaki is “buy 60 multi family apartments” and the use some magic bank/tax strategy to buy another 180 apartments or alternately start with buying a skyscraper in hawaiii and then buy 2 more after watching his video
P2
The rich builds massive wealthy by having a significant source of income(s). Thats it, there is no other secret.
For sure. Thats the one and only secret. Everting else is just to sell books. Massive income and wisely invested and that’s it.