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Space Nerd from the 956

[unr @FlippingTexan]

@HawkMan487 @reddit_lies Bruh, we’re talking abr something u cld easily ask grok abt and find out for yourself if it’s true. Chill homeboy.

[unr @FlippingTexan]

@HawkMan487 @reddit_lies Read. Comprehend. Read some more. U should try that. Then maybe u won’t sound like a dumbass who can’t read.

[unr @FlippingTexan]

@caesaropus @reddit_lies Correct. If we’re only talking abt inheriting the asset. High net worth individuals also do it to avoid taxes in life and not just death.

[unr @FlippingTexan]

@HawkMan487 @reddit_lies It’s not the same thing. There’s a big difference between ur personal home and the value of the assets these borrowers are putting up as collateral.

U can disagree all u want but u wld be wrong. It’s what the ultra wealthy do. Just look that shit up on grok.

[unr @FlippingTexan]

@Vince_Schaaf @SgtkevKevin @reddit_lies Well the payment of the loan is implied cuz the bank wld be at closing getting their money before removing the lien on the asset.

The $4.9M referenced is what the capital gains wld have been if this option wasn’t available.

[unr @FlippingTexan]

@SgtkevKevin @reddit_lies This was just an example for how to pass an asset along to ur kids. In practice, these high net worth individuals are borrowing a small percentage of their actual net worth. The banks are fine with interest only or rolling over the principal to earn their other business

[unr @FlippingTexan]

@wlerin @reddit_lies They paid it off. The bank wouldn’t let u sell it if u didn’t pay them first.

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@GMShivers @reddit_lies Lmao.

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@sevi_derk @DAlpha1016 @reddit_lies Ur nonsensical response tells me u should have used grok before getting on here to respond.

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@SgtkevKevin @reddit_lies From the sale of the land when the dad dies.

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@warus85 @reddit_lies No. The banks have to make some money.

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@OriginalHater @smith1095 @kylel556 @reddit_lies Ur rt. Idk the rates but banks are highly motivated to loan high net worth individuals money. Its competitive.

[unr @FlippingTexan]

@AmousIsFamous @reddit_lies That is incorrect.

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@GuyGuy399129004 @son_ofa_car @reddit_lies U have trouble retaining what u read? Read my post. That was my point.

[unr @FlippingTexan]

@ferezV @reddit_lies This is just the example to make it easier to understand. The ultra wealthy are borrowing millions and using hundreds of millions or billions in assets to collateralize the loans. And keep in mind those assets are growing faster than the low loan interest rates.

[unr @FlippingTexan]

@GKaspala @reddit_lies Correct.

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@DAlpha1016 @reddit_lies Thanks bruh. That’s exactly right. That’s why I said they pay off the loan after selling the asset.

[unr @FlippingTexan]

@Wanderlust39118 @FugitiveJacket @smith1095 @reddit_lies The ultra wealthy don’t just do it to avoid estate taxes. They do it to avoid capital gains when they are alive. If their stock is growing quicker than the interest rate, they are ahead of the game.

[unr @FlippingTexan]

@GiveMe2CB @reddit_lies What this guy said!

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@lordothe5points @reddit_lies Yep!