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Updated almost 7 years ago,
Thoughts on my crypto to real estate idea
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?