If you want to use the tax benefits, you have to loan money and then you’ll be able to become rich like the rich and wealthy!
00:00 which book you should check out
If you want to become rich, create a passive income, the first thing you need to check out first, is books to increase your knowledge. One of the books you should absolutely check out is my latest book, how to invest 2 minutes and make money on the stock market. Scroll down to find the link to amazon to get your own copy!
01:03 why do we loan?
In the video I show you why loaning money is important compared to using own capital completely. Making money through cash is fine, but making money through other people’s money is even nicer. In the video I show an example through a property of 100k, as how you can do this yourself. By loaning money, you will be able to double your income and profit at the end of the line… Leveraging the power of money.
06:20 how to use tax benefits
Not only loaning will increase your money power, but it will give you benefits within taxes as well. Each property will give you more income, but it will not press your taxes as much, as the tax authorities will think you are heavily into debt, so therefore, taxes will be kept low for you.
11:06 why the bank allows this
One of the questions I get very often in this example, is why the bank would not do this… Since leveraging money will get your more income, but just because the bank is in a different business, their power is to leverage money several times over. Not just once, like we can do.. With our 30% downpayment, but the bank can leverage money over 10 times, and therefore, they will be able to make more money no matter how… The only thing a bank needs to keep in mind, is the risk of their loans. Not giving their money to people who do not have a businessplan with the money, then a bank should be totally fine.
14:10 why you don’t need to worry about the bank
The bank makes their money by taking care of risks, as long as you know how to manage the risk, the bank will just judge your property upon that and then give you the money or not, in the end… If you lose the deal, they’ll just take your property and sell it for money. So even if you blow your deals, the bank will always have money to cover the expenses.
So, if you want to become rich, be sure to check out today’s video as I will go through why loaning will benefit you, and give you more purchasing power, and yet this is something called good debt, as it will generate money in the end for you.
