Using Life Insurance to Buy Real Estate | Wealth Nation
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- Опубліковано 29 вер 2024
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Real Estate is an amazing asset class to invest in but, did you know you can use a Whole Life Insurance Policy to do so? In this video, we discuss our experience Using Life Insurance to Buy Real Estate.
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I love you guys. Been listening to you guys for about a year now, and is ready to dive in. I'm into Real Estate investment and stumbling upon this subject matter was providential. I intend to join the wealth nation and then some.... Keep Kranin' those videos; appreciate you all sharing.
Thanks for breaking this down. I was 25 when I first bought my insurance policy for my parents. My insurance agent was explaining this to me but I had no idea and it sounded like gibberish to me. Now, I'm 29 and am just looking back into this lol. I wish I did earlier
Make sure it's a 90-10
Awesome content🙏
Yes yes and yes!!! I have to get my weight up tho...
Absolitely
Any companies y’all recommend
Thank you...How do I start with $1,000 - $5,000 on hand, no dep't. Not financial savvy, but want to take action instead of having this income laying in a savings account? Have the info from you, but seems the middle of this message is missing, need to grasp it.
You have to be in a good mind & financial space IOT implement this strategy. $1-5k will get you started; however, you have to pin down the concept first.
Keep researching, reading & asking questions.
What is a good company to get Whole Life Insurance with
I don't know who needs to hear this, you've got to stop saving money. Invest some part of it, if you really want financial freedom
Investing for today is priceless because tomorrow isn't promised, trading bit-coins, gold, silver and crypto secures a better tomorrow
Anyone who is not investing now is missing a tremendous opportunity, i really fear for a future without an investment.
A lot of people with high IQs are terrible investors because they’ve got terrible temperaments. You need to keep raw, irrational emotion under control.
That's so true, investment saves.
I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do because i have no idea of how and where to invest in?
I’m 63, retired military and very healthy. Can I fund the whole life policy with an initial cash installment of $100,000 … would I have to make additional monthly payments for a set period of time and would I be able to immediately get a loan for the cash value of the whole life insurance policy
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It’s always important to structure them correctly. I deal with many real estate investors in the US and we use custom Whole Life and also IUL
How long after having the insurance can you request a loan?
@@ohduana6746 generally after 1 year. But there are ways to access it right away.
Now how do we as the client know its structured correctly. Im trying to get a policy like this now.
@@michaelhanderson-wealthcre8155 how
@@raphaelguidry7395 if your goal is cash accumulation for living purposes then it must be structured for that goal. This means that you make the death benefit as low as possible (non-mec) and this will keep all the costs and fees low. The result is a tax-free bucket of money that accumulates over time.
I'm 37 years old why in the world none of this stuff available or knowledge that I could have learned back in my 20s. And how in the world can I learned more from you guys that way when I can I can stop driving a truck.
I wonder what would happen if one opens the insurance policy then uses that funding to pay off the debts?
Nothing would happen, it’s a great way to eliminate interest! So you will have more money to put into your policy.
Whole life insurance….I can borrow as much as I want at 4% interest rate that I pay TO MYSELF and my policy. Compare that to paying 7% interest on a house, or 10+% on a car or credit card interest. No brainer.
Can you use profits of a recent sale of a property towards life insurance instead of doing a 1031 exchange towards another property?
1031 can only be used for another property.
I’m an agent myself and learning all the perks with life insurance has definitely created a different mindset for me. What carriers are you utilizing to gain max cash value?
New York Life
Feel free to research the company, and if you’d like, I’d be more than happy to help. I am an agent ranked in the top 1% internationally with the Million Dollar Round Table.
What do u think with transamerica?
I've had terrible experiences with transamerica. Their policies are never designed for max cash accumulation @@olababs2048
IUL !!!
This is a great resource btw, thanks guys!
Thank you so much! I had to click and watch as soon it popped up. I love your content.
Shared it with my sisters as well because we like to make money together
What if I were to put 50k in a cash value insurance policy and I borrow against it to buy a house worth 100k and I put a 10k down payment and at closing 50k with a 20 year mortgage, can I use the policies earnings or extra money to pay off the mortgage?...would it be enough?
Basically How much money would I take home monthly while keeping my whole life insurance policy?
Great info guys could you recommend some insurance companies that offer good whole life policy?
Nestor, I work with New York Life. Has the highest ratings in the industry with a 177 year history. If you have any questions, I’d be more than happy to answer all of them for you. I’m also ranked in the top 1% of all agents internationally, so you can be at peace knowing you’ll be getting only the best advice.
I seen this idea 10 minutes ago from.a video on IG. I want to buy my 1st house is this a good idea to use my policy?
More power to Wealth Nation.. As always great content!
I have two policies and a substantial amount In a Heloc on my rental property about to have a Heloc on my personal property. I need help. What do I do with all this money. Lol. No but serious.
@patrick joynerDo you have a 1st or 2nd position HELOC? I have 1st position HELOC that I find my policy with. The money is cheaper from the bank, and the rate of return from the policy outweighs the interest on my HELOC loan.
If your policies are fully funded, then it’s time for another policy. HELOC’s are cool; however, there are better paying LOC’s when you arbitrage your policy. The money is revolving, cheaper & the interest rates are simple, no appraisals or ridiculous fees.
Welcome to the beginning, where do I put all of this extra money!
I am a South African, how can I get hold of you.? I would like to know which companies I should look at that provide this type of benefit in the life insurance.
Thank you for laying out pathways for people who don’t have a ton of cash on hand.
Is there a way to instead of paying for death Benefits basically only having living benefits where you don't pay for death benefits and you just got money to invest into stuff
Can this knowledge also be applied to universal life insurance?
Hello, I have a whole life insurance policy. I want to learn how to make money for the whole life, but I don't know nowhere to start
What if you buy a triplex live in one of 3 houses and rent out spare rooms using life insurance money
Thanks for the info as I continue to listen to you guys I get a clear picture of how Life Insurance the cash value works I have a $50,000 policy which I pay over $1000 a year I don’t see where this benefits me too use the cash value in the policy because it’s not much so it depends on how much your policy is in order to use the cash value that’s what I got from this video please comment on my message and tell me am I correct
Your policy is traditional.
You need a custom designed, overfunded CWL policy.
$1000.00, is not going to do it.
I realize that if I’m not paying $500 a month it’s not worth it thanks for the info I’m understanding much better
How do I find these 20 percent deals using gap funding?
Is the guaranteed growth percentage higher than a 401(k) or does it grow at the same rate or less then?
Can you create a video using infinite banking to pay off a mortgage faster? I like the visuals you used previously with the Excel sheets and explanations. I love your videos, btw!
How soon can you pull money out of your insurance from the time you get it? What policy has the best cash value deals?
How did you go about finding private lenders? I'm interested in both the initial borrowing aspect to fund deals and then would like to eventually get to the point where I can lend out money to leverage my money further. I may have not been paying full attention at all times but I didn't hear you mention when you borrow from your life insurance plan, the banks don't view that loan as debt. That is very advantageous in getting that extra cash for the down payment of the closing cost. Nice video. Thanks!
Biggest question is after you open your life insurance when can you start using the money from it do you have to pay consistently for a year or 2 years.
Hey 👋 I’m new to your guys channel… I’m curious who do you guys have a policy through.. Im 34 own my own trucking company LLC and make over 6 figures a yr would really be interested to get some advice from you guys about policies and ways I could leverage my money in my favor thanks 🙏
Aaron, I work with New York Life. Has the highest ratings in the industry with a 177 year history. If you have any questions, I’d be more than happy to answer all of them for you. I’m also ranked in the top 1% of all agents internationally, so you can be at peace knowing you’ll be getting only the best advice.
A properly structured UL policy is great for this also. More cash sooner.
Explain why please. Briefly
God bless you two thanks for sharing this amazing blessings I am looking to move forward with my life and run my business full time and leave corporate for good yesterday I had a meeting with my boss which I was supposed to be promoted which already delayed only to find i won’t be promoted and I will now have to do more work and work on weekends overtime with no extra money 💴 I am so ready for moving forward from corporate and doing things I’m passionate about with work life balance
I wish they would respond to their subscribers. I have a big question 🙋🏽♀️
@Gem1n1Speaks how can we help?
Do you have more than one policy? And how much do you guys open each one for that you plan on using for investing?
Yes we each have multiple policies.
Each premium depends on the disposable income that is available at the time of starting the new policy.
I’m in Ny & hv been interested in being an agent. How can I do that
Nothing new under the sun
At the end of the day, these policies do cost a pretty penny. When you are young the mortality rates are small, when you hits the 70s, 80s, and 90s the mortality rate will drain down the cash value.
When I was young, I was sold a variable adjustable life policy with cash value, dividends, etc. I did cash in the policy. Best decision.
The overall return rate from such policies is effectively less than 4%. It is probably close to 3%.
There are a whole lot better places to invest money.
I see life insurance as a forced investment for people who lack knowledge or discipline.
WL is a replacement for bonds, not stocks especially in a low interest environment. WL is never to be used as the main source of investing.
M1 allows you to borrow against your securities, of course a lot riskier but it is another option.
Can you do a life insurance policy on somebody else and borrow against another person's policy
Hi @ThomasMorris-ro7gi! Thank you for you viewership and your question. You are able to own a policy on anyone you have insurable interest in. Children, business partners etc. if you own the policy you decide how you want to leverage the cash value.
What companies do you recommend to get whole life insurance and get the policies you are talking about?
The ones that offer dividends and have a long track record of dividend payments. These are usually the Mutual insurers. Mass Mutual, New York Life, Northwestern Mutual… etc.
Jeremy, I work with New York Life. Has the highest ratings in the industry with a 177 year history. If you have any questions, I’d be more than happy to answer all of them for you. I’m also ranked in the top 1% of all agents internationally, so you can be at peace knowing you’ll be getting only the best advice.
@@K1ngSur0thanks
Thank you 🙏
I need a video on how to start investing with little money yall was able to borrow from whole ins because yall had alot of money already from real estate and put it into the whole ins.
Not taking away from how great yall videos are but I'm single and I don't make that much money.
Love your videos guys. I have a whole life policy designed for this infinite banking strategy and acquiring real estate etc. But I'm also wondering about using a whole life policy to buy an existing cash flow business from a seller? Not using my policy, but actually buying the seller's business by buying a WL policy FOR the seller in the amount of his asking price for the business? What are your thoughts on this strategy and have you heard of anyone doing this? Cheers & God bless!
I wanna try this. I have to get my life together. Almost there!
You can start where you are and reallocate money from your current bills ie: car, home, credit cards etc. you can redirect the money to your policy.
@@MommyBizTakeover Noted 📝
What happens to the cash value money/ savings when I die??? Will the amount I’ve accumulated in the cash value be paid out along with the death value that’s to be paid upon death?
I’m watching your video right now and I’m interested in doing this. I don’t have a life insurance policy at this time. But I would love to talk to you about this.
I love you guys so much!!! You bring so much light clarity that means a lot and you’re changing more lives and families than you could ever imagine!! God bless you!!!!
very pretty 👍
If I’m 22 with about 13,000 would a 150/month plan be worth it ? And how much would I have to fund to be able to benefit
Suppose if I have a 9 to 5 and decide to put my whole check in a life insurance policy will it still be taxed ? is there way I can automatically deposit it straight to my policy ?
Darius and Carmen, when it comes to real estate investing, what do you think about REITs?🙂
"Buy a house for $5,000" (in the U.S.): Around 1950, 70-75 years ago.
When you say "savings", are you referring to 401K?
Once I purchase a policy is there a certain amount of time that needs to pass before I am able to take a loan against accrued cash value? Also, from your experience what's the minimum amount to pay monthly in a high cash value policy per month??? I gotta sell my husband on this you guys 🤣
You can access the money immediately. The issue is that you need to be patient and wait. If the policy is properly structure you get about 100% available around year #5. Before that you will see between 80 to 85%.
Hello just reaching out to see if you sold your husband on Whole Life Insurance for Investment purposes. I just started watching this videos and trying to do the same.
I am based in the UK, can you help me?
Can I fund my policies with my business?
What company is your policy with or what company do you recommend?
Great stuff!! How do you find ppl who need gap funding?
Great Content Folks 👍
How much cash value can you get from a $50k after about 1 year?
more great ideas and excellent methods!
Is this possible in UK? or is it called with-profits policy in UK?
My whole life is only growing at 4%. My HYSA is growing at 4.25%. Why should I put money into the Whole Life instead of using my HYSA?
It's about using the policy. If you don't plan to ever, then the HYSA is better. If you decide you want to lend on a real estate deal, you could pull the money from the HYSA but you interrupt the compounding. If you take a loan from a WL policy instead, you don't. You earn interest in two places
I thought you only could use living benefits only when you are ill
What is a good life insurance policy
One question, you said if you are sued nobody can touch the money. Does this also apply to divorces?
Do you have an insurance company that you recommend?
This an IUL policy
We only use whole life insurance
Is this possible in the United Kingdom
Yall have great info but you job have too much. Please get more direct and to the point. You know people don't have attention spans anymore. Just a suggestion. Love yall
I would like to know how to invest in real estate.
I just wanted to know why you would want to use an index that is properly structured as they cap at 12.5% now with certain companies. I do both depending on my investors needs
Anyone try this in Australia ?
Can you talk about peer to peer investing
I needed this video because I was just asking my agent about doing this.
Most agents will not know how, what, why, etc.
They have to understand the concept & have a major mutual company as a carrier.
This is a specialized product; therefore, it will require a specialized team/individual IOT implement & guide you down a successful path.
@@applechili2848 thanks Apple Chili, my agent is actually one of the agents who works with Darius and Carmen. He answered my questions about using my policy to invest into real estate. I just thought it was timely that I asked him a question about it and Carmen and Darius did a video on it. Talk about coincidence 😂
@@Mori_Shands yw. Good luck on your journey & in your future endeavors.
The sky is the limit & the limit to reaching the sky is your imagination.
Luckily, I already own property & I’ve recently picked up a second policy, which I can’t wait to max out. Albeit, slow & steady wins the race. There is so much that you can accomplish by maximizing your internal community, then scaling out incrementally.
The only thing better is competing with siblings or like minded friends, family & associates.
My brother started practicing last year & it’s fun to see his progress & exponential growth.
Besides the initial years of a given policy, the only other negative is waiting for payments to process & season.
Again, best of luck & enjoy in great health.
Awesome knowledge.
Great show & AWESOME content.
Thank you.
Yes, I will try it.
This is an awesome video
wow you two are so well spoken and eloquent on such a huge topic, instant fan!!!
Great info
Are you taxed on the money that you ‘borrow’?
No, it's a loan which isn't taxable
Thank you
I was told that as an agent I am not allowed to recommend insurance as a tool to by real estate or college funding.
You cant recommend it. You can always provide information on how to do that though
Wow😮., 👍
What insurance company do y’all recommend?
I work with New York Life. Has the highest ratings in the industry with a 177 year history. If you have any questions, I’d be more than happy to answer all of them for you. I’m also ranked in the top 1% of all agents internationally, so you can be at peace knowing you’ll be getting only the best advice.
thanks
what insurance did you guys use?
I work with New York Life. Has the highest ratings in the industry with a 177 year history. If you have any questions, I’d be more than happy to answer all of them for you. I’m also ranked in the top 1% of all agents internationally, so you can be at peace knowing you’ll be getting only the best advice.
This is an eye opener. Where can I get this life insurance policy from please
Steffy, I work with New York Life. Has the highest ratings in the industry with a 177 year history. If you have any questions, I’d be more than happy to answer all of them for you. I’m also ranked in the top 1% of all agents internationally, so you can be at peace knowing you’ll be getting only the best advice.
@@K1ngSur0 what’s your email
What agency for this to start with?
I work with New York Life. Has the highest ratings in the industry with a 177 year history. If you have any questions, I’d be more than happy to answer all of them for you. I’m also ranked in the top 1% of all agents internationally, so you can be at peace knowing you’ll be getting only the best advice.
My mom and I talked about this yesterday… I will be sharing this information.. thank you 🙏🏾