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Updated about 7 years ago on . Most recent reply

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Jason Paine
  • Oceanside, Ca
1
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Thoughts on my crypto to real estate idea

Jason Paine
  • Oceanside, Ca
Posted

So I have done well with cryptos over the last year, enough to buy houses in cash.  The problem is the big cap gains tax.  A new company called Salt Lending is giving out short term loans with your crypto as collateral (just bitcoin and ethereum atm) up to and over 1 million.    

My idea was to take out a loan using my crypto as collateral, buy the houses in cash and then do a standard refinance paying back the loan which has 10-15% annual interest.  Once the loan is paid i get my crypto back.

Thoughts on any pitfalls about this strategy?

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