@blockkboyy615@yoxics Any financial institution that provides loans in general. People that do this will shop around until they find a loan they’re comfortable with.
In theory no taxes at all if he just sticks to loaning and keeps rolling the debt over as his assets increase in value. Major downfall of this strategy is when assets drop in value. A well calculated approach can account for this but with how much of it is going on coupled with the market screaming for a major correction is a recipe for a brutal bear market in stocks once it kicks in. As it drops people will get liquidated which will in turn cause it to drop even more aggressively. All it will take is a catalyst to kickstart it which right now with the irresponsible investing going on regarding AI across the board is soon to come.
@orangeandwet@yoxics You can also use the amount paid toward interest as a deductible. Another strategy is use that deductible to minimize an amount owed in taxes of an asset sold when the time is right.
@orangeandwet@yoxics Most smart people use that money to invest into something that has a higher return than the interest due. Basically rolling over the debt into a new debt while accumulating assets. This is how he has billions in assets.
31, took about a year to afford cost of living and save up 15k with my fiancée. Used it for a down payment and first time home buyers program while avoiding down payment assistance. Got a $315k 4 bedroom 2 bath home with a nice backyard and a 2-1/2 car shop to work in at 5.9% with a mortage, insurance, etc… at about $2200 a month.