I am a billionaire in debt you know why because I get tax breaks for borrowing money the more money I borrow the less tax I pay so what happens so let's say let's say on a commercial building I buy a million dollars goes up to 10 million dollars most guys would sell it the moment you sell let's say a basis of 1 million to a basis of 10. I have a 9 million dollar capital gains so instead of selling it and flipping it like those flippers do I don't flip I don't sell see the moment
you sell as you know as an attorney you've now executed a capital event a taxable event so what I do is let's buy a property for a million it goes to 10 million dollars I'll borrow out five tax-free