(11) REVERSE Mortgage Massive Increase Globally! Huge Fraud and Scams Revealed - YouTube

(11) REVERSE Mortgage Massive Increase Globally! Huge Fraud and Scams Revealed - YouTube



I got a mortgage for my first flat. My parents owned their home and my grandparents owned a shop, their own home and they rented six flats. I was property educated.! Then I became an accountant.

If you rent, the owner has to repair it, which can cost a lot. There are no property market swings to worry about and you know, in advance, your monthly outgoings over the rental period.

If you buy in, then the only thing to do is keep moving, hoping to make a profit as you move. To remain in a home for 25 years is useless. When you need money, in retirement, you can't borrow against the home because you ain't got an income to pay the loan!!

The real game is to rent your home and buy to rent a second property. The rent pays the loan, as the flat increases in value. Now that is money for nothing!! In addition, you can form a company and claim loads of stuff against the taxman!!! You can claim any losses against your normal income. Or if you are really clever you can put ownership 'off shore' and pay no tax whatever on the rental income.

Many make the huge mistake of buying to rent and making the place like a palace with the best of kitchens etc. There is no tax advantage, as these items cannot be claimed, initially. However, if you replace new for broken/old, you can claim the costs and the taxman pays you for them!! Another good reason not to rent a palace is that you may find all of your gear stripped out during a 'moonlight flit!!'

This is the UK position. Other countries may have different tax laws. Consult an accountant  I did lol!!!