I am going to be using #bitcoin & borrowing from myself to buy my first rental property.

Want to know how?

Time for a thread...๐Ÿ‘‡๐Ÿป๐Ÿ‘‡๐Ÿป๐Ÿ‘‡๐Ÿป

At the beginning of 2020 I set a goal for myself to accumulate as much #bitcoin as possible.

Now this thread isnโ€™t really about whether or not you believe in bitcoin, but more about how to use leverage and other peoples money (OPM) to buy yourself more assets.

Let me explain...
Step 1 - I took all of 2020 to accumulate #btc and put it on an exchange (Blockfi) that pays me interest on my bitcoin.

Not only have I acquired multiple coins this year, but Iโ€™ve created a $100+ gain per month in interest as well (another source of cashflow).
I can now utilize this platform to take loans out against my position (which is in the mid 5 figures.)

Double winning:

I can take a $ amount loan out against my bitcoin and use that to pay the 15% down required on a rental property and allow the bank to pay other 85%.
How I am winning #1:

I am borrowing from myself and a bank to acquire another asset.

That real estate ๐Ÿก will be paid for by someone else and produces more cash flow for me.

I will use that cashflow to immediately pay off the loan I took against my bitcoin.
How I am Winning #2:

I will still realize all the appreciation value of my bitcoin. (I believe it will be much higher a year from now) along with monthly interest still being paid.

This allows me to have used an asset to create another asset...
At the end of the day...

I will have a new cash flowing property & access to my full bitcoin holdings without spending a dollar of my own money.

I will then let the rentee continue to pay off the house for me...
Iโ€™m letting the bank & broker front me the money to buy the house.

Iโ€™m letting the rentee pay off my broker and bank.

All the while I get to benefit from my bitcoin appreciation & interest along with the cash flowing benefits of owning a rental property...
I can now go and repeat this process as many times as I would like.

This is literally how you build an empire without ever spending a dime of your own money.

Capitalism is great. ๐Ÿ‡บ๐Ÿ‡ธ

More from Crypto

You are running out of time to get ahead in cryptocurrency.

You know what's coming:

๐Ÿ”บ๏ธ Regulation
๐Ÿ”บ๏ธ More shutdowns
๐Ÿ”บ๏ธ Banks deciding who gets to do business

It's time you got your own crypto wallet.

Don't know how? I'll show you.

/////THREAD\\\\\

METAMASK

What's metamask? It's a wallet. That you -- I mean YOU -- own.

You see, when you buy crypto through an exchange like CoinBase, you own it but only kind of.

If they get

๐Ÿ”บ Hacked
๐Ÿ”บ Shutdown
๐Ÿ”บ Servers crash

-- your money is STUCK.

We are gonna avoid that ๐Ÿ‘‡


First thing,

Go to

https://t.co/JXAp9o5RzJ

You can download it on your computer. It's a browser extension.

Alternatively, go to the app store on your Android or iPhone. It's there too.

As part of the setup process, you will choose a password.

More importantly though...

SEED PHRASE

As you follow the setup process, you will be given a 12-word seed phrase.

WRITE. THIS. DOWN.

Take it down and guard it like the map to Davey Jones' Locker.

THESE ARE THE ONLY WAY TO RECOVER YOUR ACCOUNT.

DO NOT LOSE.

We good? Great.

Let's continue.


Once you're all setup, your MetaMask wallet is going to look something like the picture below.

See where it says Crypto Address? That's where your actual address will be.

It'll be a random arrangement of letters, numbers, etc.

Click on it to copy to your clipboard

NEXT STEP

You May Also Like

The YouTube algorithm that I helped build in 2011 still recommends the flat earth theory by the *hundreds of millions*. This investigation by @RawStory shows some of the real-life consequences of this badly designed AI.


This spring at SxSW, @SusanWojcicki promised "Wikipedia snippets" on debated videos. But they didn't put them on flat earth videos, and instead @YouTube is promoting merchandising such as "NASA lies - Never Trust a Snake". 2/


A few example of flat earth videos that were promoted by YouTube #today:
https://t.co/TumQiX2tlj 3/

https://t.co/uAORIJ5BYX 4/

https://t.co/yOGZ0pLfHG 5/