All Forum Posts by: Eric Kouvolo

Hi Damian. I have a few STR in Glacier on Airbnb. Send me a PM.

Are you considering a Self-Directed IRA to buy Real Estate, Precious Metals or other Retirement Assets?

If you don't know what you are doing or have a knowledgeable custodian or administrator, it can cost you!

Join us for a special event where expert Wealth Strategists show you How To:

• Invest in real estate, precious metals and more without getting trapped in a Self-Directed IRA.
• Create a Private 401k-IRA account that has special tax advantages!
• Avoid paying banks $100,000+ in interest and fees for common loans.
• Generate increasing lifetime income w/o risk... regardless of what happens on Wall Street!
• Get the biggest BONUS for your retirement savings before the next crash.
• Build generational wealth like the richest 1%, no matter what your income!

https://zoom.us/j/4602410229?pwd=VVdlZ20rTUs0OUVQUm0zNWdRNWZhZz09

Money is a tool and an amplifier.  I'm sure we all know a person who is a jerk.  Give them more money=bigger jerk.  I also know good people who are rich and make valuable contributions to their community and society.  

Wealth also allows you to buy back your time.  Don't want to hand wash dishes, mow your lawn or clean your house?  Buy a dishwasher, hire a landscaper or housekeeper and spend more time with the people you love or doing the things you enjoy.   How much is your time worth?  You, me and Bill Gates all have the same 24 hours in a day.  How do you choose to spend it?

Your best skills can grow exponentially when the basic necessities of life are covered and you don't trade time for money.  Andrew Carnegie was considered one of the wealthiest person in history, yet he gave away 90% of his fortune.  Visit a local library and there is a good chance it was somehow funded by his legacy.  

This is why I want to be wealthy and help educate others how they can do the same.

Hi Billy. I felt the same way too before I educated myself.  I was a finance major in college in the 90's. It was until the last decade that I read Becoming Your Own Banker and multiple other books on the subject.

I started two policies and used them to pay off debt first and later invest in real estate. After fully understanding and realizing the power of a PROPERLY designed account, I knew I had to share this with others. Yes, I THEN got my license and help educate people to use it for Banking, not death benefit. 

This isn't my primary source of income and don't care if you use my service or not, I just want to see people avoid my million dollar mistake. I was doing all the things Dave and Suzie recommended, and thus missed out on the opportunity costs of non-direct recognition. Most untrained agents are working for a larger commission based on death benefit. The banking policies are designed for Cash Value (low commission).

Rather than detract from Gordon's question, you or anyone else can join the forum I started just for this topic.

Best of success and happiness in all you pursue!
Eric

https://www.biggerpockets.com/blogs/10914-bank-on-yourself-infinite-banking

@Gordon Forbes

These are the foundations of my wealth building and preservation. How you make more money or what you invest in is up to each individual investor.  We are blessed to live in a time of abundance and infinite opportunites!

When you are getting started or >5 years from retirement:

High Cash Value Life Insurance: liquid in a crises/opportunities, modest growth guaranteed by legal contract, tax advantaged status

When you are approaching retirement:

Preferred Fixed Index Annuities: 20% (currently) rollover bonus, pays you an increasing income for the rest of your/spouses life, never loses value or runs out

Are you considering a Self-Directed IRA to buy Real Estate, Precious Metals or other Retirement Assets?

If you don't know what you are doing or have a knowledgeable custodian or administrator, it can cost you!

Join us for a special event where expert Wealth Strategists show you How To:

• Invest in real estate, precious metals and more without getting trapped in a Self-Directed IRA.
• Create a Private 401k-IRA account that has special tax advantages!
• Avoid paying banks $100,000+ in interest and fees for common loans.
  
• Generate increasing lifetime income w/o risk... regardless of what happens on Wall Street!
  
• Get the biggest BONUS for your retirement savings before the next crash.
  
• Build generational wealth like the richest 1%, no matter what your income!
  

Limited FREE admission tickets for Bigger Pockets members while they last...

https://selfdirectediraseattle.eventbrite.com/?discount=pockets

Thanks Julian for the shout out and welcome back to the PNW Brendan! I am doing some cool Airbnb/VRBO rentals near Mt Baker and am available if you have any questions. Big plans for the spring as I am looking to scale and would like to help create some win-win-win solutions. Until then ... Let It Snow!!!

Eric

#RentalsMtBaker

I have two life insurance "banking" policies. First, I used them to pay off credit card debt. Now I am using them to buy rental real estate. Personally, I would never put my savings in a 401k or IRA ever again.

Most insurance agents, and fewer people, don't truly understand how to design a policy that is optimized for the Infinite Banking Concept.  I listen to Paradigm Life's podcast and Patrick sounds very intelligent on IBC and economics, but I don't know how he structures policies for cash value that is liquid in year one.

Google anything and you will find someone saying "SCAM"!  Do your research, like I did for 2 years, and see if this concept might work for you.  It has for me because I found the right agent. Send me a PM if you want to learn more about my experience with Infinite Banking.

Thanks Mike! That was my initial plan to put each property in a separate LLC. I wasn't sure if banks would be more willing to loan if I had two paid off in the single LLC. That way if I would only need 50% LTV for one entity to get the 3rd property.

I own two vacation property rentals outright. The one I have had since 2012 is titled in my LLC and the other I just purchased in July with cash value from my life insurance policy and titled in my name. I wish to purchase a 3rd unit (or more).

The banks I have talked to so far say my debt/income ratio is not in their range for a personal loan. They also declined a business loan due to seasonal rent variability and the new unit having unestablished revenue.

Should I put both properties into my LLC? Then, how can I get 50+% LTV financing to purchase a 3rd+ property? My annual vacation rents are 25%+ of purchase price and 3x what a standard monthly rental would generate. I don't wish to include personal credit or income as a factor in getting financing.

Any suggestions?