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How to avoid paying taxes:
Step 1: Acquire a large portfolio of under-valued rental properties in appreciating areas. Make sure you’re timing the market to be near the end of the “slump” phase of the Real Estate cycle so you can buy once values have troughed.
Step 2: During the “recovery” phase of the cycle property values will be increasing— either renovate to add value or simply hold since you bought them at a discount while renting them out to cover expenses.
Step 3: During the “boom” phase of the cycle the values will be at peak, cash up on your properties by refinancing or getting Home Equity Lines of Credit on all of your (now appreciated) properties. You now should have access to hundreds of thousands of dollars (even millions?) and because it’s considered DEBT you won’t be taxed on this money and can spend as you wish.
Step 5: Make sure to lower your rents/increase expenses to show a loss on your properties to avoid paying taxes.
Step 6 (optional): Either move back in to your parents house or move to Vietnam to make the money stretch until old age.
Disclaimer: I have no idea if this plan will work and am not liable for any legal issues that ensue. Let me know if you try it though-seems legit!
Step 1: Acquire a large portfolio of under-valued rental properties in appreciating areas. Make sure you’re timing the market to be near the end of the “slump” phase of the Real Estate cycle so you can buy once values have troughed.
Step 2: During the “recovery” phase of the cycle property values will be increasing— either renovate to add value or simply hold since you bought them at a discount while renting them out to cover expenses.
Step 3: During the “boom” phase of the cycle the values will be at peak, cash up on your properties by refinancing or getting Home Equity Lines of Credit on all of your (now appreciated) properties. You now should have access to hundreds of thousands of dollars (even millions?) and because it’s considered DEBT you won’t be taxed on this money and can spend as you wish.
Step 5: Make sure to lower your rents/increase expenses to show a loss on your properties to avoid paying taxes.
Step 6 (optional): Either move back in to your parents house or move to Vietnam to make the money stretch until old age.
Disclaimer: I have no idea if this plan will work and am not liable for any legal issues that ensue. Let me know if you try it though-seems legit!
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