Talking about Become Your Own Banker and how it caught Richard’s attention.
You can and should be the banker in your life.
Everyone should be in two businesses – one where you earn your living and one that finances everything you do for a living.
Infinite Banking Concept: Accumulating a pile of capital in an efficient location that is constantly growing
Utilize contracts to build a reservoir of capital.
Life Insurance: Your Personal Monetary System
Cash Value Insurance: The massive untapped resource of private money
You can have more control over your money.
In this episode of Raising Private Money, we delve into the fascinating topic of the Infinite Banking Concept.
Richard Canfield joins Jay Conner and together they explore how this concept can fund your real estate deals and provide unparalleled control over your money.
Richard also shares his experience of filming a documentary capturing Nelson's knowledge and stories, now available at https://www.NelsonNashFilm.com.
The importance of control in the infinite banking space is emphasized. The concept allows individuals to amplify their control over money and pass on a legacy to their families.
They also discuss the untapped potential resource of private money available through cash value insurance. Jay and Richard explain how individuals working with real estate deals can tap into this resource by asking if people have cash value insurance they would like to put to work for more profits.
A concept called infinite leverage is introduced. Jay and Richard explain how they can borrow against their whole life insurance contract and loan that money to someone else, earning interest on the loaned money.
They emphasize that they are using the insurance company's money and pocketing the spread, resulting in an infinite rate of return. Jay and Richard discuss how owning a whole life insurance policy allows someone to co-own the insurance company and access its capital.
As participating owners, the insurance company must grow profits for the policy owner and share dividends. Reinvesting the dividend increases the tax-free death benefit, leading to more cash accumulation.
The power of controlling and managing your own reservoir of cash value potential is highlighted, enabling unrestricted access to equity for various purposes.
The episode concludes with the belief that everyone should be in two businesses: the one they earn their living from, and the one that finances everything they do for a living.
The importance of being your own banker and controlling your own banking function is reiterated.
Jay Conner is a proven real estate investment leader. He maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal without using his own money or credit.
What is Real Estate Investing? Live Private Money Academy Conference
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Private Money Academy Conference: https://www.JaysLiveEvent.com Free Report: https://www.jayconner.com/MoneyReport Join the Private Money Academy: https://www.JayConner.com/trial/ Did you know there is a way for people to earn unlimited money tax-free? How Jay Conner raised $2.1 million of private money in 90 days is never about asking or begging for money. Building trust is the key to making your private lender invest in you. Discover Jay’s magic question that plays a big role in his Raising Private Money journey. “God Created Us With The Desire To Help Other People” - Jay Conner Learn the direct and indirect methods of initiating conversations with a potential private investor. Revealed today! For the first time, Jay’s three Categories of private lenders and how to grow them so you never worry about funding your deals again. Which problem do you want: “Where will I get funds for this deal?” Or “Where will I find a project to fund with my Private Money?” Find out the be...
Private Money Academy Conference: https://www.JaysLiveEvent.com Free Report: https://www.jayconner.com/MoneyReport Join the Private Money Academy: https://www.JayConner.com/trial/ Brett Snodgrass is CEO of Simple Wholesaling and has been a full-time real estate investor for 10+ years. He specializes in wholesaling, wholetailing, creative financing, and scaling a business from a one-man band to an amazing full team running 100s of deals per year. Brett has extensive knowledge and firsthand experience in several facets of real estate investing. He is an investor in Indianapolis (who loves being a Hoosier) and works with investors all over the country who want to invest in one of the top-rated cash-flowing markets in the nation—that is Indy. Brett’s amazing team buys and sells 300+ properties per year and builds passive streams of income by creating 50+ creative financing deals per year. In a five-year timespan, Brett has gone from a one-person team to a full-time staff of 10+ te...
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