All Forum Posts by: Tommy Schluter

 I am relatively new to this concept, but I have read the book, What Would the Rockefeller's Do? To be clear, when you recommend Maximum Over-Funded Life Insurance, you are referring to a policy with the most possible cash value and minimal death benefit, correct? In the book they mention a few different "Infinite Banking" concepts or ways to utilize the method, however one of the most talked about concepts was the idea that in a case where you didn't pay back the loan, it would just be deducted from the death benefit. So in a sense, wouldn't a larger death benefit allow the potential for access to a larger loan against the policy, that in turn allows for more real estate financing opportunities through the policy, even if it means it takes longer to accumulate the cash value? 

@Thomas Rutkowski, If I have a life insurance policy with an employer for the last 2 1/2 years, but can take the policy with me and convert it to Whole Life would this be more efficient than just cancelling entirely and opening my own personal Whole Life Policy?

Would also like to add that I am entirely aware this is a long-term investment/banking concept. By asking how long does it take and recommendations for beginners, I am by no means trying to insinuate any get rich quick schemes and wind up fooled by some shady sales agent w/ a policy I know nothing about.

Does anyone here finance their real estate investments through a loan against their Whole Life Insurance policy via a Trust? If so, how long does it take to have enough Cash Value to 1.)  Begin financing and 2.) Really be able to not worry about when you need a loan and be able to jump on opportunities as soon as you see them? Also, any recommendations on Mutual Life insurance Companies for beginners.

Thanks in Advance!

Congratulations on getting started, Mason! Like a few of the other comments state, I recommend setting a goal for yourself as to when/where you would like to buy your first property. Begin, researching any and all information on properties in that area, even if it feels like an overwhelming amount of information. In the meantime, save as much money as you can and/or look into any potential creative financing options, or even a responsible & reliable business partner to split costs & profits with (Be extremely particular if/who you may decide to do business with). For legal purposes, I would recommend opening an LLC through your secretary of state and purchasing the property through the LLC. Opening an LLC is generally super cheap and easy and provides a solid blanket over your assets for most legal issues. I would highly recommend, especially if you plan on continuing to grow your RE portfolio.

Congratulation & Good Luck!