I'm Sharon Winsmith and I will teach you how to achieve financial freedom by using modern wealth building strategies. The methods I use are the same used by the wealthiest people in this country. Topics you'll NEVER hear me cover include: 1. the FIRE movement; 2. budgeting; and 3. anything you've ever heard from Dave Ramsey or Suze Orman.
Why should you listen to me? I'm a tax attorney and wealth advisor. I've spent my career specializing in tax planning strategies, asset protection, and investment strategies that can help you build wealth efficiently. In my former life I was the personal tax advisor to some of the wealthiest individuals and largest Fortune 500 companies. I've worked on some of the most famous tax returns and have advised on over $45B in acquisitions.
Now my passion is teaching you how to build wealth by exposing some of the biggest myths about investing and how to leverage the same secrets the wealthy do.
Been doing this for the last 65 years. Do rentals first. Get double tax exemptions. Quadruple tax write-off, if one counts #1 Deprecation (really only good for 10 years because of inflation, basis do not change) #2 Loan interest is tax deductible, even on commercial RE. #3 Low cost rentals often are RE taxed less (depending on region). #4 Repairs, materials, utilities, management, RE taxes, all write-offs. In my retirement, (I'm 89) Farming has all the benefits of low cost residential plus more AG tax benefits then I have room for here.
So if you had a SBLOC and you used dividends to pay the interest and principal each month do you pay taxes on the dividends used to pay back the loan ?
When GP Stakes are available, why wouldn’t everyone prefer to invest on them vs as an LP? Is it because it’s more expensive to buy into the fund that way? Or some other reason?
This is great content. My only bit of constructive criticism is the videos are a bit long for the amount of content being delivered. I think that’s mostly because you repeat things a lot. As a former educator I learned there’s a difference between teaching through live lectures and teaching an online course through, say, video lectures. With video the student has the ability to pause, rewind, rewatch, slow down, speed up, etc. So my video lectures are more concise and I include more visuals and detail. Just some friendly advice as I would love to see your content reach a much broader audience. I’m actually shocked by how low your subs are given the quality of the subject matter.
Do you have a video (either on RU-vid or one of you courses) that looks more specifically at where and with who to invest the proceeds of an SBLOC? Obviously it could go anywhere, but you've talked a bit about where you personally invest. That info would be very helpful. Thx!
I am trying to do SBLOCK with IBKR. Moved my stock there. Have a pro account. My available funds shows but when to do the withdrawal, the money available to withdraw is ridiculousmy low. Is there something I missed?
I called Interactive Brokers… spoke to their client care, then supervisor, then their trade desk, then their margin team. They said they do NOT do SBLOC’s…. Just accept a margin loan. Do you have a margin loan or something else?
What are your thoughts on using an SBLOC to withdraw in a different currency? I realize this introduces forex risk, but I notice, for example, that the IBKR interest rates for borrowing in CHF appear to be significantly lower. than for USD.
Another informative video with sage advice. Noob question: What's the portfolio balance threshold for acquiring a SBLOC. I realize there are variables like what the loan will be used for, dividends in the portfolio, a 50 percent valie cushion needed just in case, etc..., but is there a minimum value amount?my guess is $100k.
Here's my criticism of this strategy why don't you just leverage your stock portfolio 2 to 1 especially with options Why go through the hassle of trying to find another investment
What about high yield dividend etf stock, is getting a loan better than using my own cash. An let my cash grow somewhere else and just make the monthly payment of loan( an I I would be able to pay off the loan) and possibly a tax deduction somewhere…..? Instead of using my own cash, probably missing on some tax benefits instead by using a loan
Your videos are great thank you. Please keep them coming. Do you think its a good idea too liquidate my 401k to buy another rental property. I stopped contributing a good while ago and wanted to do something with the money.
Thank you for all your help. I took your course on SBLOC I started to use it in the last 2 months and transferred my portfolio to IBKR. IBKR has the best rates. I’m already quite bit up.
@gustavavodiaz4689 Following because I'm seriously considering the same and a transfer to I KR is the next move. You're a step ahead. Feel free to check back on this comment thread to share any experiences you're having on your journey! Good luck to all!
How long before being able to withdraw. In IBKR portfolio balance I see an amount in Cash Available but when I go to withdraw I see a ridiculously low amount. Should I have a specific account (margin account vs Portfolio account)?
I have an appalling criminal record, but have a good-ish paying stable long term job. Because of my record, nobody will rent to me. Its almost impossible to get respectable accomodations, without persecution, that are long term reliable. But the lending company had no problem loaning me/wife for a home of our own, so buying is our only real option. Now, considering the fact that i bought a home, would you recommend plowing my money into the mortgage to get the principal down quickly in the first few years, or instead put extra money into these other true assets? I assume you're going to say the latter.
