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All Forum Posts by: Bobby Paquette

Bobby Paquette has started 58 posts and replied 174 times.

Post: Investing in Real Estate with Life Insurance

Bobby Paquette
Agent
Pro Member
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 203
  • Votes 83
Quote from @Denver McClure:

Disclosure as well, I'm a General Lines Agent. I would completely agree with @Matt Ruttenberg on an IUL being better suited for the average real estate investor. The tax benefits mixed with the 0 cost loan capabilities are what most investors are looking for when it comes to finding low cost capital for RE down payments, renovations, etc.

Just make sure you work with an Agent who is a licensed Fiduciary and understands real estate investing as well. There are far too many life insurance agents out there that might not care about your financial situation or real estate goals and will just push any product on you for a commission. 


 Thanks! 

Post: Investing in Real Estate with Life Insurance

Bobby Paquette
Agent
Pro Member
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 203
  • Votes 83
Quote from @Matt Ruttenberg:

Full disclosure, I own an agency, but Indexed Universal Life vs. Whole Life is the conversation you're looking for.  I personally lean towards IUL because of the flexibility.  It does take some time to get the policy working for you, but also depends on how you're funding it.  I would wait until you're able to contribute at least $500 a month towards it.

Also, the design of the policy needs to be optimized properly.  In short, the death benefit needs to be "squashed" in order to promote cash value growth.  Thats because the majority of the costs are based on the death benefit and could, in the long term, cost you 6-digits in lost assets to the insurance costs.

The other thing to consider is the loan provisions and how they are calculated.  You want to achieve a "net 0%" loan in order to use it's full potential.  

A few more details here, but this is a good start.


 Thanks for sharing, If i decide to go with a policy, I will be in contact! 

Post: Investing in Real Estate with Life Insurance

Bobby Paquette
Agent
Pro Member
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 203
  • Votes 83

Who is investing in Real Estate with Life Insurance? What kind of policies do you have? How much are you able to use out of the policy? Any other details you can provide on it investing in real estate with it? 

Post: Best Midwest Market ?

Bobby Paquette
Agent
Pro Member
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 203
  • Votes 83
Quote from @Jonathan Klemm:

Well know that you have potential for an awesome team here in Chicago @Bobby Paquette.....let me know when and where...here to help.


 Great, thanks!!

Post: Best Midwest Market ?

Bobby Paquette
Agent
Pro Member
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 203
  • Votes 83
Quote from @Jonathan Klemm:

Hey @Bobby Paquette - Chicago hands down!  Even with the Illinois taxes and Chicago crime...

- We have an endless amount of multifamily buildings that need to be renovated.

- We also have properties at all price points

By far, in my opinion, the most important thing is having a solid team!


 I actually get a lot of multifamily properties sent to my email in Chicago

Post: Down payment of 160k or 0 down and invest the 160k?

Bobby Paquette
Agent
Pro Member
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 203
  • Votes 83
Quote from @Donny Frusciante:

Hello,

We recently sold our house and made a net of around 160k...we now have a contract on a new house and I am trying to figure out how I should finance this new house. Is it recommended to put 160k down on the new house and just have a lower monthly payment with a 15 year loan or should I do 0 down and somehow invest that extra 160k? I can afford the house with 0 down, so that won't be an issue.


As of today, I just have the 160k sitting in a wealthfront account accruing 4.55% interest, which currently brings in about $550 a month.

btw--I have no idea about investing! I simply use the autoinvest robot on wealthfront and just hope it makes good decisions...yes, I know, I need to better educate myself on how to do these things myself!

Please help me make the best decision in order to build my wealth and thank you in advance!


 Depending on the Purchase Price of the new house, and how much you can afford per month, if you want to put something down to lower your payment BUT you also want to invest, you can do both. Just put some money down and use the rest to invest. Since you made a good amount you can even do like a nice trip, and then split the rest up to put down on the house and the rest to invest! Just my thoughts! 

Post: Out of State Landlord who Manage their Own

Bobby Paquette
Agent
Pro Member
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 203
  • Votes 83

What is the best piece of advice you woul give someone who is going to be managing their out of state rentals? (Without saying "Don't do it") 

Post: Beach, Mountain or City location?

Bobby Paquette
Agent
Pro Member
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 203
  • Votes 83
Quote from @Ruth Blue:
Quote from @Bobby Paquette:

If you could only pick one type of location to invest in STR's for the rest of your investing career, which type of location would it be? Near the mountains(Like Gatlinburg), near the beach(Like Destin), or in a city(Like Vegas) and why?

*Doesn't have to be the locations I used as an example just wanted to give an example! 


 WE own in Destin as well as the Smokys as well as in city Huntsville AL. If I could only own in one location it would be the Smoky Mountains. We are the Vegas of the East Coast. Honeymooners travel here year round. Plus small family weekend trips, family shopping trips, et. This location has year over year been more profitable. 


Awesome! Glad to hear it from someone who has a place in all areas!! 

Post: Best Midwest Market ?

Bobby Paquette
Agent
Pro Member
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 203
  • Votes 83
Quote from @Remington Lyman:
Quote from @Bobby Paquette:

What is your favorite Midwest Market to invest in right now? 


Columbus, Cincinnati, and Cleveland, Ohio.

 CCC, Baby! 

Post: Best Midwest Market ?

Bobby Paquette
Agent
Pro Member
Posted
  • Real Estate Agent
  • Charleston, SC
  • Posts 203
  • Votes 83
Quote from @Jimmy Bostic:

I think the Ohio markets, specifically Columbus and Cleveland, are pretty hot right now


 That new chip plant helping !