All Forum Posts by: Mike Loew

As the title states I am interested in hearing opinions on what people on here think is my best option for salary compensation to allow for long term wealth and RE investing. I currently work a J.O.B. that i enjoy where I have the choice to be paid through an Indexed Universal Life Insurance Policy or just a standard paycheck. The job offers no IRA or 401k options but I can place money into a Roth IRA or a Roth 503B if I choose. By participating in the IUL I am able to reduce my taxable income while taking a loan against the cash value. I was told I can withdraw up to 80% of the cash value without worry of defaulting on the policy and undergoing a taxable event. My work pays all the premiums for the policy so I don't pay the costs like individuals would have to if they chose to do an IUL. I am also eligible for a state pension but the money paid out eventually in this pension would not include the money placed in the IUL. So my question is what would people on here do? Would you elect to put a large portion of pay into this IUL which will hopefully build cash value and I could loan against to invest in RE or would you elect not to participate and opt for higher taxes out of your paycheck but have a higher state pension amount in the end which could mean less money for RE investments? My tendency is to utilize the IUL to help build cash value while investing in RE since my company is the one paying the premiums while I'm working. Is this a risky or a smart strategy? What am I missing? I have some friends who said stay away from IUL but I feel this situation may be different since the company pays the premiums? Just don't want to end up getting screwed in the future because I was naive to something from the start and felt this community would be best to help advise me. Thanks in advance for any insight/advice.

@Maureen McCann I am still researching which markets to invest. I live in the midwest so that may be the easiest place to start and it seems the Midwest does have ample opportunities for those looking for them. Seems like they would also be easier to visit if needed but not sure how often that is required with TurnKey investments. I definitely don't want to just blindly let some management company lead my investment as I'd want to check in to make sure my tenants and properties are taken care of appropriately.

@Jonathan Bombaci Thank you for your response. I agree I may learn more doing it myself but what I worry about is not having enough time to find the great or good deals. I haven't completely wrote the idea off and plan on talking to a couple local real estate agents that may be able to point me in the right direction. Maybe I have an unfounded expectation that Turnkeys will allow me to ease into REI and start to learn some of the concepts slowly before going all in but maybe I need to make the jump. Not sure hence the start of this thread. I also don't know a ton about syndications but the Freedom Founders seems to have good connections/relationships and seem to promote them as good investments. I'm still concerned with their costs to be apart of their club however and think my money may best be used investing in myself instead of them.

@AngelaThomas Thanks. I've been in contact with Susan but if I have any additional questions I won't hesitate to reach out.

Hey everyone. I discovered BP a few weeks ago and since have started reading a few of Brandon's books on REI. I just wanted to take the time to introduce myself and let everyone know my desires and hopefully get some advice on where to start. I'm a practicing dentist looking to start building my financial freedom through cash flowing investments such as rentals, lending and syndications. I have pretty much ruled out wholesaling and flipping as I would not likely have the time involved in being successful in these fields while still working full time. I have looked into some turnkey sites such as Memphis Invest and RP Capital. Both seem like good companies but was hoping someone could give some more info on them for me. I have also came across a group called Freedom Founders which is all about trying to reach financial freedom for professionals through real estate but is very costly in my opinion. I know many say avoid these guru type clubs as most of the info can be obtained right here on BP. Has anybody used them or have any advice on these types of programs? I think it has an annual fee of $25k which seems to me to be better used in REI (even turnkey properties) instead of just losing it. I truly believe REI is the best path to financial freedom and I don't trust the stock market and like to have tangible assets. I realize the road ahead will have challenges but nothing that I will not be able to overcome thanks to the support of all of you. Thanks in advance for any input/thoughts. I'm excited to begin my RE journey.