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How to Use Infinite Banking with a HELOC
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- čas přidán 7. 06. 2022
- On this podcast episode, we're going to discuss how to use infinite banking with a HELOC. D'Andre Clayton will do another deep dive into the infinite banking concept, Reggie Briscoe will talk about how he used the HELOC strategy in order to pay off 2 houses in 3 years, and I will share how to apply this to your real estate investing business. Check it out!
NOTE: At certain parts of the video, the audio went out. We appreciate your patience.
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Who is Jamel Gibbs (The Family Oriented Entrepreneur)?
"I teach real estate investors and entrepreneurs how to create time and freedom. Helping them get from where they are, to where they want to be, through proven real estate investment strategies. At the end of the day, I take the guesswork out of building a successful real estate business, moving you closer to building a life and business you love, for you and your family."
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#infinitebanking #jamelgibbs #businessandinvestingpodcast #dandreclayton #familybanking #generationalwealth #passiveincome #wholelifeinsurance #taxshelter #reggiebriscoe #HELOC
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I figured this out 20 years ago and i own 5 houses outright through the heloc game.....i did not know about the insurance game....you guys are dead on, best video out there!!!!!!
I am also a life insurance agent and a proponent of the infinite Banking and home equity line of credit. I have never been more proud. Thank you so much.
I hate to ask but is there any way we could get a visual? Like a graphic that shows the variables, and amounts of the transactions?
Here you go: czcams.com/video/j4DB-_coXz0/video.html
@@jamelgibbs
are you guys based in the US or Canada?
So i essentially take $5k buy an insurance policy, a life insurance policy. Then I borrow $2500 from that policy to invest in some assets. While investing the $2500 in assets my $5k is growing from the insurance policy I purchased. Whether it be dividends or gains? How soon does the $2500 have to be paid back. Will I pay a tax penalty for bowing against the policy like a 401k? He’s was talking about it then switched to $50k for a house.
There was one important moment that sort of slid by. The older gentleman said if you have positive cash flow, you just pay that balance right down. Cash flow is the key. You have to have more money coming in than you do going out. If you live above your means, then this will not work efficiently for you. You have to have "free money" every month that would have just sat in your bank account and not being used for something, like a bill or eating out. You have got to be responsible with your money.
Glad I came across this, I have roughly 270K in equity in my home. Bought my house back in 2012 for 86K value went up to 330K now. I'm mad I been paying my house for 10 years and only paid off little over 20K so far
Thx
205k mortgage loan in 2014. Only a little over 30k paid off smh.house current value 340k
Just got set up with my HELOC to use it as 1st position. Planning to pay off my house in less than 5 years. Got my policy (IBC) during pandemic. Perfect information for what I’m trying to accomplish in the 808!🤙🏽Thank you fellas!
The only thing the first position HELOC ensures is emergency liquidity. You actually do not save on interest over paying extra principal to your regular mortgage. Also the HELOC is going to be a much higher rate.
You made a big mistake! You put yourself at higher risk and are not saving money at all !
Mortgage interest is calculated just like heloc or any loan it’s not compounded or some crap like these dumb people say !
@@iamintractable1805 you are correct higher rate but then again it never saves you money to use a heloc they are always higher rates and it’s must limit variable rate so it can go up !
@@iamintractable1805do more homework. You've been mis-guided.
@@sfsfuzzy3597you’re wrong know it all dummy- you obviously didn’t watch the video where D’Andre brings ACTUAL numbers of clients on the show to compare- you are so misguided and negative. Good luck in life pal.
Wow. He mentioned helping teachers and I was like oh Lord this one is for meeeee.
Ok bc we are poor people for sure!!😢
OMG, mind blowingggg. Knowledge is power..It's people like this I want to be IN THEIR CIRCLE to feed me knowledge daily , so I can spread the word more and more to my millennial family instead of the things I watch them learn and ways they throw away their money, as I once did leaving nothing to show later. I truly thank you gentleman for this learning session. Jamel thank you sooooo much for the knowledge you bring on your platform. It is GREATLY APPRECIATED!!
I absolutely love your video , I’m a real estate investor , and want more , just started to do volocity banking in July , and started a infinant banking policy with 10 percent if my rental income monthly I learned a lot from your video and your simple explanation thank-you I subscribed to learn more and shared and liked it. ❤
Man when I tell you, I love your channel. You are the only person that I've come accross that does not leave any information for the viewers to figure out. That information you just shared for free is worth thousands of dollars. I don't like subscribing to anyone who is not giving relevant information. But you sir got a subscriber out of me!! You are truly God's send. I mean that literally because I've been praying that God helps me pay off my house in two years. I just stumbled on your channel God answered my prayers. You are always upfront with the information you shared. Thank you from the heart. Keep doing what you are doing. Lifting people to financial freedom. My goal is to retire at 50, making $15k per month in passive income.
Can’t wait for part three. Big #opportunity moves. It feels almost illegal to know this. Game changer! Thanks to the guests and Jamel for this.
Man you guys are having a conversation that we all need to hear. Continue teaching us. Looking forward to next next video on this subject
Wow. The heloc loan is exactly the same strategy I used to pay off my primary home. Next I will focus on my investment properties. This strategy will allow me and my wife to have our homes paid off soon and retire early. Awesome video guys.
Thank you so much, guys! I see that light shining bright. Paying the house off and getting a HELOC to fund my real estate investment business. I had looked at different ideas, but THIS is clever! Lord Jesus be with you!
Whoa!! Talk about recession proof! This is exactly why Jamel Gibbs' channel is my #1 go to for business and investing information! I did not expect this approach at all. The next installment/episode for this collaborative effort of strategies will completely transform my daily situation. As a newbie investor I personally need to know how to approach incorporating the IBC, HELOC and REI methods in unison. Thank you, D'Andre Clayton, Reggie Briscoe and Jamel Gibbs, for sharing your expertise and experiences with us.
You have to be really ignorant at math to think this is good !
You keep buying more insurance and then you send them extra money each month just so you can borrow it back to invest???
The reason IRS does not tax this money is because it’s not profit !
It’s the dumbest idea ever!
Instead of investing inside insurance policy where if you die you lose it all ( that’s right all you get it face value of the insurance policy)
If you had just purchased term insurance and taken the rest of that money and put it into Mutual Funds then you would have three times as much money in 20 years as you will using their insurance investments strategy!
Don’t fall for these schemes
WOW!!!!! I AM TRIPPING HERE!!!!!!
Jamel this was just the financial information we need to jump start our possible generational wealth strageties. We certainly appreciate how you're using this platform to educate, add discipline, and financial opportunities to help others.👍👍
Opportunity! Thank you so much for sharing your knowledge.
Great Information!!! Thanks for taking the time to do this. I currently have a HELOC that I set up to replace my mortage, and I've paid down over $20,000 in 3 years. Now I just need to set up my insurance policy :)
First time viewer… Received a great deal of Value with this time I spent with you Gentlemen
. Well Done 🙏🏾
Thanks so much I really hope it helps you.😀
I have the same ring tone lmaooo
This interview was so eye opening, I had to share this video? Thanks Jamel!
This is such a game changer! Thank you so very much!!
The way whole life insurance makes its money is by retaining the policyholder's cash value when they pass away. For example, if the policy has a $500,000 death benefit and a $100,000 cash value, you might assume the beneficiary would receive $600,000, but in reality, they only receive the death benefit of $500,000.
This is crazy. I appreciate yall. Salute
Not new concept, I did this years ago but it only really works if your spread is big enough. You have to be able to absorb in times like this where the Fed pushes up the rates. Everything in your 1st HELOC is based on it + prime. I don't hate the concept just people need to be realistic.
The biggest issue in my mind is most of America sees they have access to a lot of money, they spend it on liabilities and then are in a worse position.
Definitely takes positive cash flow and a healthy financial mindset but can work great if you stick to those principals
Jamel, thank you for sharing information about the framework for building wealth. I'm really grateful for running into your videos. Please keep up the good work!
Thanks
I’m not even done with the video and I LOVE IT!!!! I love how he simplified it for everyone. Thank you so much for this video 😁
I cannot like this video enough!!! It is just amazing and I love what they said about the mindset at the end. Don’t do it you don’t have the right mindset and discipline. Hands down one of the best videos I’ve seen on CZcams! I will return to give you an update on my progress in a year 💙
Glad you liked it!!
Thanks Mary we're glad it bought you some value!!
@@mlillys28how is it going 1 year later? Any updates to share?
This is fascinating info… about to go listen to Part 1… may be back here after to see if I can pick your brain a little :)
So far, from all the videos I've watched, this one is the best.
I love this information!!!
I have been researching this method for a long time. Thank you so much for explaining it in a clear and concise way. I’m definitely going to watch all the videos!
I just helped a client put 65k into a policy using a heloc. Great stuff
💪🏾
Opportunity!
Homework:
1) go watch first video- sincerely contemplate and decide on my "Why"
2) rewatch this video- answer questions:
-what will I do with this money? (Create a plan)
-what is my credit score? (If below 700, plan out how to raise it)
-How much money do I want to have access to?
-What habits or mindsets to i need to change to be successful with this opportunity?
3) reach out to these men for assistance with the questions from #2 answered.
4) wait for the next video for how it all connects with real estate.
Thank you so much for the support this is a great summation of how to get started on this journey!!
Opportunity! Can’t wait for part 3! Can’t thank you enough for this information.
Wow! Thank you so much!
Great stuff, absolutely great piece of information and I am grateful for you guys getting together and sharing your knowledge about these strategies!
Look forward to learn more and implement strategies!! Thank you
I agree with most things the older guy is saying but he said you can use the heloc to pay the bank for as long as you want , you definitely can’t do that, because the heloc requires payment and at some point you will run out of money on it.
Hey Dameon, thanks for the participating in the conversation. I just wanted to provide some clarity, the process Briscoe is using is actually drafting his paycheck directly into his interest only HELOC that is in the first lien position therefore it actually counts as a payment.
Thanks for the response Bro!
I’ll have to listen to it again on how he said what he said but that’s definitely something he should have said, I know this strategy very well, I have a few HELOC’S and a All in one loan ( 1st lien HELOC) and I do that strategy with that account! It’s definitely a game changer and blessing🙌🏾🙌🏾🙌🏾
@@bigmann434 Thanks man just wanted to provide clarity and I'm so excited about how well those HELOC's are working for you!!
Gentlemen, thank you gentlemen 😊
24:37 The key to a HELOC...replace your mortgage.🔑We used BB&T now known as Truist bank. You want an "INTEREST ONLY" "FIRST LEAN POSITION" HELOC💎. This really helped to set my wife and I on the road to freedom.
It only good what prime rate is low, now that prime rate is getting raised several times a year, HELOCs are great as First Liens.
I came to the same conclusion. And a million dollars at that. She was with the you know what with that story. Not totally truthful on that part.
Opportunity!!! Thank you for this powerful mind blowing video!
Think the one of the main points that may not have been said enough about a HELOC is if you are not good with your finances and have positive cash flow it's definitely not for you!
I absolutely agree with you. Discipline is one of the greatest qualities anyone of us can have.
I've been on both sides of this and agree 💯. Positive cash flow is a must so if you have a significant life change make sure you set a budget to stay on track
Hey Jamel, D'Andre and Reggie! I'm Ciza from Canada like researching and that way I got your Podcast Videos. I want to become real Estate, But there are so much change to beginner. Thank you to entre unto deeper explanation how to be successful in the Real Estate👍❤
Opportunity!!!!!!
This is my first time viewing your channel. Excellent information and timely. Thank you for sharing knowledge ❤️
you guys are amazing/awesome. i'd love to see a part these with specifics and scenarios: money coming in to HELOC, paying bills, how much principle is getting paid each month, etc. also, what if a used car is at 10% interest on an amortized loan. can HELOC pay that off to save the interest?
Even I can answer that. Of course. There is no one telling you what you can and cannot spend the heloc $ on. And the max a heloc interest rate can go is 11% although rare that high. Plus, you aren’t restricted by time as these guys explain.. you can pay back as much as you can on heloc and it lowers the amount owed and interest over time as well I believe.
Please do a part 3
Freaking awesome 👌 👏. It is so good to see intelligent brothers bless the masses with knowledge 🙏. I am so thankful for coming across this information. Keep up the good work. If no one has told you MEN in a while, I AM VERY PROUD OF YOU AND ALL OF YOUR ACCOMPLISHMENTS! From my soul, not from the bottom of my heart. Thank you....
You guys are such a blessing. Thank you.!!!
Love this information! Thanks for this educational video.
Amazing information...Thank you so much for this.
Extremely grateful for you.
Thank you so much for this information I'm so glad i came across your video. You guys gave me more depth and understanding on how to smartly use a HELOC. For me my house has already been paid off so the purpose for me getting a HELOC is to debt consolidate which is under 8k. You guys did open my mind up to be possibilities
Opportunity! Excellent information!
Funded my IBC. Shopping for a 1st Lien HELOC now. Thank you!!
Thanks for the the Ifinite Banking information. I'm new in the journey and am grateful to have this information.
Opportunity! Thanks for the great information.
Looking for Part 3. Let’s Go!!!!!!!!!!!!
Thanks all three you fellas- the HELOC info is invaluable. 🙏 Part 3 would be excellent and much appreciated. Cheers and a definite thumbs up 👍
Dope information Brothers, Salute ...
🙏🏾💪🏾
Opportunity! Amazing information, time to take action.
Love this info
OPPORTUNITY!! I’m loving this!!
You guys are so knowledgeable thanks for sharing and educating. Looking forward to more great information.
I have heard of infinite banking and understand the concept somewhat. But if I pull out equity to pay of one of my rental property I am not sure if I can still write off the interest paid on the HELOC or if I can depreciate my rental property either. Maybe it's a better idea to pay of a primary residence since that is usually not depreciated on taxes.
So Helpful! Yes, please do a Part III.
Damn good info. 3 guests=3 mics.
It all makes sense. The thing I struggle with, if I've got the money to pay into a insurance policy, wouldn't I have the money save up enough cash to use that cash as a downpayment and then I'm not having to pay anything back. Other than start saving again the only difference is, I'm not having to pay interest on it I get using the equity in your home for liquidity, if what you use it for he's going to pay it's self off
I know I'm late but OPPORTUNITY! ❤
Read R. Nelson Nash (The Godfather of IBC), Becoming Your Own Bank. All the information is correct. Start early and don’t be afraid to take the physical. If you don’t qualify, you can own policies on other people. You need to read about the details about that.
Peace unto u thank you for your time and knowledge on these life changing tools,looking forward for more information thank you and God bless you all!!!!
Opportunity ❤❤
Opportunity!
This blew me away!! I want more!!
Wow this is some incrediable stuff.
Thank you ! Great information
Glad it was helpful!
Great Information! Thank you so much!
👍🏾👍🏾
Information is power... you cats are powering us up big time.
Love all the valuable information you provided
Link to the first and third video.
Wow, thank you for this information 🙏
Thank you for continuously dropping knowledge
Opportunity
Great content fellas! Love this… Thank you for all the generous info!
Yes, show me the Opportunity !!!
Great video too bad Reggie is not talking into the microphone!
Yes I would love to hear more.
So what is the terminology we need to use when looking for an insurance policy? Do I say " I would like to purchase an infinite banking insurance policy ? "
Awesome information, thank you so much.
Mr. Gibbs, this was great info shared. I appreciate what you are giving in these platforms because it shows there is more than one way to accomplish things, and in your very best interest, not so much the institutions. So many more blessings to come your way. I'm interested in learning a little more about the Heloc strategy Mr. Briscoe applied and want to see how this might be an option to consider. How can I get in contact him?
Opportunity! Great breakdown and explanation of how all this all works!
Interest rate on HELOC is high > 8% Feb 2023 especially relative to traditional mortgages.
Thank you for this information.
Great content. Knew about the heloc strategy. But the infinite banking?!?! Sheesh. Im looking into that asap. 35, 2 properties, a tone of equity, great credit and income and ready to take the next step.
On the HELOC the money goes hard (no longer revolving) after so many years where you have to pay what you owe completely off. In order for you to pull off paying off two properties we need to discuss the dollar amount of equity that was used to create the HELOC. Sounds like there was a significant amount than normal scenarios to execute this strategy.
Do you suggest any particular mutual life insurance companies and how do we set it up. Scenario like the gentleman said $10k policy. I thought we could not overload it or it becomes a mec (?). How do we present or should we ask our life insurance agents? Please advise and Thank you for spreading knowledge.
Sounds like great information and would have loved to listen to more but when the microphone only works for two out of the three conversations, it’s very hard to keep your interest when I can’t hear the guy talking about the HELOC
Let’s Go!
I’m a banker and have see. Where banks have frozen peoples line of credit back during the last recession. 2009. They are calling for a recession coming in July. Also at 5/3 bank, 1.99 intro rate on a heloc for 12 months. After the intro rate, the Prime plus 1 or 2 is coming. It’s all strategy.
Hard to hear what exactly he said on how he paid off his mortgage. Will have to replay this on a better speaker. Great info.. thank you!
Awesome information, gentlemen. Can't wait to start IBC
Need to have your guests be closer to the speaker please. Good info, thank you. And what's up with the background music or sounds? It's distracting. Is it the speaker too close to that one guest?
Any info on what banks, lenders, credit unions will structure their HELOC's like this. In my experience most will not and it is extremely hard to find one that will. I know it works and believe in the system but need to find a lender that will structure it properly. Any help would be great. Thanks,
You guys are about to change my life!! Real talk!