ilmscore | Prediction Details
"Now you can go back to the bank and say, 'Hey, we drove up our profits, before we were only making $70,000 a year, that's when we were worth a million dollars, but now we are making $100,000 a year.' Now the bank is going to say, 'Oh yeah, you've definitely increased the value of your property.' So we don't think worth a million dollars any were; we think that your apartment complex is worth $1.5 million. So now what you get to do is you get to refinance against this property. So if you do the same thing and you pull out some cash, let's assume that you pull out $1.1 million... And that still leaves $100,000 that now you can put in your pocket for putting this deal together, and remember this is tax-free because this is debt. This isn't income."
By Minority Mindset | November 12, 2023 | Pending
From video
How The Wealthy Pay No Taxes (And How You Can Too) | Jaspreet Singh 00:38:08 - 00:39:07
Interpreted Prediction
By improving a real estate property and increasing its value and cash flow, investors can refinance the property to pull out equity as tax-free debt, which can then be reinvested or used for personal expenses.

Prediction Details

Topic
Refinancing Real Estate to Pull Out Cash Tax-Free

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