I pay my tax professional $6,000 per year
to learn secret hacks of the rich
so you don’t have to.
And one strategy that they taught me was how to get a mortgage
without showing income. On paper,
you’re probably asking yourself,
why would you do this? And the answer is simple.
The more you report, the more taxes you have to pay.
As someone with a portfolio of $15 million with a real estate,
this is extremely important for me.
Instead of looking at your reported income,
lenders are going to use your bank statements
to approve you for a loan.
They’re going to review one or two years of bank activity
to see how much money comes in and out each month
to calculate your expense to income ratio.
This is used to determine how much money you could borrow.
The lowest down payment you can get is 10%.
There’s no tax returns that are needed,
and most importantly,
I can control 100% of an asset that pays me cash every single month.
In fact, most years
I pay zero dollars in income taxes
while making $480,000 for my 40 rentals and seven Airbnbs.
If you want more tips like this,
make sure to give me a follow.