How to Use Infinite Banking with a HELOC
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- Опубликовано: 29 сен 2024
- 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!
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"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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Wow. He mentioned helping teachers and I was like oh Lord this one is for meeeee.
Ok bc we are poor people for sure!!😢
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!!!!!!
NOTE: At certain parts of the video, the audio went out. We appreciate your patience.
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Man... i didn't only clicked that like button, i also smashed that subscribe button.
OPPORTUNITY
This is gold
I have the same ring tone lmaooo
This interview was so eye opening, I had to share this video? Thanks Jamel!
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 RUclips! 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?
Opportunity! Can’t wait for part 3! Can’t thank you enough for this information.
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
Opportunity!!! Thank you for this powerful mind blowing video!
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 ? "
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
Funded my IBC. Shopping for a 1st Lien HELOC now. Thank you!!
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?
OPPORTUNITY!! I’m loving this!!
What is the interest on what you borrow on the life insurance policy
Thank you for continuously dropping knowledge
Opportunity
Opportunity! Thanks for the great information.
I would really like to speak with Reggie!
Interest rate on HELOC is high > 8% Feb 2023 especially relative to traditional mortgages.
Hey Ms. Skeeter, I noticed you mentioned the interest rate which is often a conversation that many need help wrapping their head around. But if I could provide some help one thing I always bring attention to on the appointment is the Truth Lending Page where it clarifies how much interest the client will pay over the course of the loan. Often times that figure is double or a little more than the Principal. Many don't understand that the rate is far less important than how interest is actually calculated in regards to amortization vs simple interest which a HELOC is. The other variable that adds a significant amount more is the PMI payment which needs to stay on until 20% has been paid off. The PMI although wrapped into your monthly payment does not contribute to the interest nor the Principal this creates a serious drag on the mortgage that also helps the mortgage to stretch to a 30 year loan.
There are some good calculators to show this, the rate only dictates the monthly payment, time and balance dictate total interest paid. there can be many benefits, no or low fees and closing costs, no PMI, no escrow so 11 months out of the year that money is now helping lower the interest payments.
Love this info
Gentlemen,
I appreciate the information you have shared. It's greatly appreciated. I got my HELOC through the same company that holds my primary mortgage. I want to get started using the strategies shared in the video to pay off debt and so on, but would this be a conflict of interest from the lenders perspective if my mortgage and HELOC are with the same company? I did this for ease of quickly transferring capital between my accounts. For example, transferring capital from my checking to the HELOC and then paying my mortgage from the HELOC to quickly pay it off.
OPPORTUNITY!
Opportunity ❤❤
Opportunity
Did Mr Briscoe do a line of credit or a cash out?
opportunity
OMG... I am so happy that I found your channel. I live in Atlanta; can you refer me to someone trust worthy to help me get started with infinite banking? I'm serious!!!
Is replacing your mortgage mean cash out?
“Events”
What about the draw repayment period? If you zero the heloc out does the draw period start over ?
How do I get an Infinite banking policy? Also, how do I get a 90/10 policy?
Excellent video
The guest speaker sound is not load enough to head conversation. The mikes aren's infront of speaker.
Great content
Thx
I really appreciate this video. I’ve looked into what the older man said about using the heloc to pay the mortgages and I already pay many of my bills with a credit card and pay the balance every month: I used half my heloc to fix up my house. I have 25,000 left and was wondering if it would b e a good idea to put all my income into heloc and using that 25,000 to pay the principal on mortgage? It worries me that the interest rate keep going up on the heloc. Don’t want to get myself into trouble trying to cover mortgage and high heloc repayment plan
I’ve also never hear of infinite banking policies before. This is new to me and I want to learn more about this type of plan.
#opportunity
That is one way of doing it, people call it the "chunking" method. I've only done it with a first lien position HELOC so I can't attest to that strategy. Personally I would feel more comfortable consolidating into one payment
Opportunity😊
How can I connect with Deandre ?
Check the description. Info should be there.
How do I find a D’Andre Clayton insurance agent in Bay Area of California??? Please tell me what particular position and what type of insurance agency should I start at to find somebody to help me into an infinite banking policy and because I just bought a house this year, I would like this to work in preparation of HELOC strategy when ready.
Hey Sadie we're licensed in California. www.claytonfinancialsolutions.com
Your audio of your guest is way too low
Opportunity
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: ruclips.net/video/j4DB-_coXz0/видео.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.
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!!
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
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. ❤
I think the content is great, but I think if your going to have 3 people in the room you should have 3 mics. Especially if it’s the person that is giving his testimonial. I could barely hear what he was saying.
Great video but man, you really need another microphone . Or at least point the microphone to whoever is talking pleaseeee. A lot of great info though!!
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.
Opportunity
Opportunity
i ran in to problems where they don't do heloc on investment properties
I'm sure there's a lot of good information in this video. However, he wasn't sitting close enough to the microphone for us to be able to hear everything.
sounds like a great way to become financially ruined just borrow more money Robing Paul to pay Peter while betting your house on it how about just live within your means and pay an extra Grand if you could a month on the existing mortgage monthly like I do I only been there 5 years and I'm already more than halfway done
I wish they would have given more info for what life insurance companies to go to. Great info though...
You need your guest to speak into a mic. Sound is awful.
Some of this information is not complete and may be misleading.
Just to give two examples: 1) If you move, the HELOC must be closed (I guess there may be exceptions). 2) the interest rate on a HELOC is higher than a regular mortgage, so paying off your mortgage with your HELOC money does not make sense. If it does, please enlighten me; 3) paying off your credit cards with the HELOC makes no sense! If you use your credit card and cannot pay it off without incurring debt, then you are living above your means! Do not use a credit card unless you can pay it off or have an emergency.
Finally, those sound effects are out of place and make the video be very cringy.
Hey dcrespol I truly appreciate your contribution to the conversation. Just a few things I hope can provide clarity. Many times when people think about the interest rate on a HELOC and try to compare it to the Mortgage they forget that the mortgage has more components than simply Interest and Principal. For instance the PMI which is required to stay on the loan until 20% has been paid off doesn't contribute towards the interest or the principal. The other factor is they forget that interest is not a monolith. A HELOC is a simple interest tool with NO AMORTIZATION. Whenever you have time please review the truth and lending page and see what the actual interest charge is projected to be over the course of the 30 year loan.
In regards to paying off credit card debt with a HELOC that is a bit simpler of a concept being able to centralize the interest of multiple cards that may be charging 19-25% will automatically cause a positive arbitrage and it will get rid of the negative compound interest where the cards charge the interest monthly. Also, mortgage type debt is treated far more favorably than consumer debt. I would love to provide you with realtime information on this though and get your feedback.
www.claytonfinancialsolutions.com
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
Guy needs to get closer to the mike .his low voice is hard to hear
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.
Brother in the middle needs a mic or talk closer to one. It’s annoying that I have to turn up the volume when he talks then when the other brothers talk it’s too loud
Great video too bad Reggie is not talking into the microphone!
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.
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
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
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.
Thank you for this infinite knowledge. ❤ Financial Literacy
I have been studying using the HELOC in recent months. I’ve looked into Infinite Banking in the past. Thank you for further clarifying this concept for me in regards to use of the HELOC. #Opportunity
The explanations of these strategies always sound scammy. It can work but they never tell you that it's basically just transferring some of your mortgage to a HELOC account, and living below your means so that your extra cash pays down your HELOC balance every month.
I can't get approved for a HELOC when I come off of forbearance until I make 12 months of payments in the meantime the banks trying to close me down and take my house over a lousy $9,000. I owe $90,000 on a $300,000 house
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.
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.
Thank you Jamel, I just seen your this podcast from your channel for the 1st time. I'm looking to get into getting and qualifying for a HELOC and I'm a proponent of infinite banking as well. I own my home outright living in Miami and trying to go about it the right way without getting caught into a lot of scams and traps That could cost me my future and my home. any recommendations on how to find a good lender and also be more educated into the real estate market game as described in your video? thanks brother for your genuinely informative video! 👊
Rich - Miami
So what if you own your home already and want a HELOC. HOW DOES THAT WORK WITH REFINANCING?
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.👍👍
This is such a game changer! Thank you so very much!!
“We Do Not Support Violence”!
💪🏾
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,
Please do homework before doing any of this! If you new to finance this can hurt you more than help. Although if you do understand it it completely it is helpful. Don’t loose your assets following others. I gave it a thumbs up because I support my community but this wasn’t delivered that well js. Let the guest speak.. that’s why they are there 🤦🏾♂️.
Very helpful video.
I currently have a rental property. Where can I reach out for guidance to help get a HELOC going. You guys have very good information. How can I reach out for a mentor to figure a game plan.
I can you how to setup an IBC policy using a internal LOC that gets paid back from the death benefit .. No credit needed, premium flexibility.
Opportunity
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.
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.😀
ok...I have a heloc that is worth 48k...it is maxed out..however.
I have 15k in cash on hand I can put towards it...can I start this?
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
The family get the benefits from the policy when you die. But what happens to that cash that was growing??
Opportunity
Opportunity
Sir, I’m presently engaged in acquiring a first lien heloc and I’m interested in also starting a mutual life insurance policy
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
I just came across this video for the first time and would love to have a consultation with you guys I feel like I could use the expert help from the team thanks
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.
What’s a quick way for me to increase my credit score so that o can get a HELOC
Infinite banking with HELOC absolutely not.
Can’t hear your guests
Opportunity
Hi Do you use people good credit score to apply loan for investment property. Or recommend me who does.