All Forum Posts by: Owen Rosen

We moved our properties to USAA and had no issues in spite of a claim shortly before the move for quite a bit of damage from a burst water heater. If you or your parents are a veteran then you should reach out to them.

@Owen Rosen hi Owen I got my ibc policy 8 years ago. I got my policy based on the principles I learned from Nelson Nash, he’s a pioneer in the field. My policy is structured from what he explained in his book. I would love you to read it and let me know your thoughts. My policy was never meant to pull out my cash as soon as I got an opportunity to do so. I need to make sure It makes sense borrowing money at 8% from myself.

@Owen Rosen,

Thank you for making those points. I'm glad we found common ground on the subject of infinite banking not being in the best interest of most consumers.

You're absolutely right about the distinction between universal life and whole life insurance. My primary concern with infinite banking is its suitability for real estate investors.

Regarding the fees, I wanted to highlight that a significant portion of the initial premiums often serve as commission for the agent. While it's understandable that agents need to earn a living, I advocate for a flat-fee model in my financial advisory practice. This approach ensures transparency and eliminates conflicts of interest. Having worked in a commission-based model at a large insurance company in the past, I've come to believe that flat fees better serve the interests of my clients.

In my Risk Management & Insurance Planning course at Golden Gate University, we delve into the technical aspects of these insurance products. Although infinite banking has its complexities, it's important for investors, especially in the real estate sector, to grasp the implications of such strategies.

I appreciate the opportunity to clarify these points, and I'm happy to continue the conversation if you have further questions.

Best regards, 

Josh

Hi All, I am a landlord in NJ and am seeking your guidance on what kind of renter insurance coverage I must make mandatory to the tenant.

1) So far I have been asking for following bare miniumum coverage. Is this coverage adequate? Am I missing anything I must add/modify?

                    Personal Property: $30,000

                    Personal Liability: $300,000

                    Replacement Cost: Included

                    Medical Payments: $1000

                    Loss of Use: $6,000

                    Property Damage to Others: $500

                    Mold Property Damage: $10000

                   Mold Liability: $50000

                  Tenant Pet Damage: $500

                  Additional Interest: Myself (the landlord)

2) With above coverage added to renter insurance, do I make it mandatory for the tenant to have a separate pet liability insurance?

3) Do I make it mandatory to have me added as Additionaly Insured?

Any guidance would be appreciated.

Tim,

I have to chime in here.  I'm a professor of finance at GGU and a financial advisor for the last 12 years including insurance.  I am a Certified Financial Planner and I now run a firm specializing in helping RE investors and entrepreneurs.  

Stay away from the "infinite banking system"

The main features of putting your money into an IUL (Indexed Universal Life) which is the vehicle used by infinite banking include incredibly high fees (Most of which go to the agent selling it to you during the first year), inability to access your money for 7-10 years, and you having to go through an insurance company to access your own money (As a loan that needs to be paid back per Infinite Banking "rules")

If you are someone who is simply looking to invest in properties just do it through a business bank account and save yourself the headache and fees.  Most people will never need whole life insurance as a "bank" where they can loan themselves money.  If someone is recommending this to you it is almost certain they are making a handsome commission.

Hope this helps and feel free to ask any questions

Just purchased a property out of state with a small pool (it might be a jacuzzi). Home insurance will give dwelling coverage but won’t give liability coverage due to the pool. It is located in the backyard and is raised on the deck/patio area. There is a small fence around it but is under 4 feet. 

This property is a fix and flip and is vacant. Contractors will be working on the property. My team hasn’t decided whether we will get rid of it and make it a patio area. Or if we will leave it. 

As of right now the insurance company doesn’t want any liability. They won’t even cover me if someone slips and falls inside the house, which doesn’t make sense because what does that have to do with the jacuzzi. Any advice? How big is the risk? 

Hello. I've recently come across this system and it is my understanding it is an investor friendly way of accessing cash. Any agents out there that can assist?

 Thanks! So I would want to keep my  honeowners (which covers the entire duplex right now) and also get land lords ?