How To Maximize Your Whole Life Policy for Real Estate | How To With Jake and Gino

Jake and Gino Real Estate Entrepreneurs

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5 • 831 Ratings

🗓️ 7 August 2023

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

In This Episode of Jake and Gino: Gino Barbaro, co-founder of Jake and Gino, dives into an enlightening conversation with Kraig Strom, also known as the "income engineer," a certified financial planner and paralegal at Barth Calderon. With special insights and experiences, they discuss the various benefits of whole life insurance, particularly when purchasing real estate. Topics Covered: The historical relevance and resurgence of whole life insurance. How whole life insurance can serve as a secure and tax-favored asset. Gino and Kraig's personal success stories using whole life insurance in real estate. Understanding whole life insurance as a non-correlated asset. Strategies for maximizing the use of whole life insurance. The financial mindset needed to see the long-term benefits of whole life insurance. Special Guest: Kraig Strom Website: kraigstrom.com Email: [email protected] About Jake and Gino: A platform committed to providing educational tools, coaching, and community support to help real estate investors achieve financial freedom and multi-family mastery. Mentioned in this episode: "Wheelbarrow Profits" book by Gino Barbaro. Subscribe to our YouTube channel for more insightful podcasts and follow us on Facebook, Instagram, and Twitter for the latest updates! We're here to help create multifamily entrepreneurs... Here's how: Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors) 👉https://jakeandgino.com/apply About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate. Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/

Transcript

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0:00.0	Hello and welcome. My name is Gino Barbara, one of the co-founders of Jake and Gino, and I have an exciting how to this afternoon. Jake is not with me, but I've got a special guest. Craig Strom, also known as the income engineer, certified financial planner, paralegal at Barth Calderon. And Craig, you know, welcome to the show. We're going to be talking about how to maximize whole life and how to utilize it, you know, with when you're purchasing real estate.
0:24.1	How are you doing? I'm doing great. I absolutely love it. I love this. I love actually,
0:29.7	anytime I get a chance to talk to you in person instead of just listening to your book in my
0:33.4	earpiece, yes. So he's talking about the Wheel of Our Profits book.
0:39.7	And, you know, let's talk about whole life.
0:46.9	And just talk about real quick, some of the benefits to whole life before I want to get into my story of how I had gotten it years and years ago.
0:49.2	And it was actually by mistake.
0:51.8	And one of the better mistakes that I've made in my financial life.
0:52.8	So just jump in.
0:58.2	Give us some of the benefits of whole life and how you're using with your clients. I really appreciate that. Whole life insurance has been around for a long, long time. For example, before the 401k was born
1:05.4	44 years ago, our grandmas, grandpas and great grandpas,, they had whole-life insurance, whole-life and
1:12.2	whole-life companies have been around for hundreds of years. And in recent years, in the last 20, 30
1:18.9	years, the use of whole-life insurance, especially in the real estate space, as an alternate asset class,
1:27.1	insulated from, you know, market ups and downs,
1:30.4	that offers benefits that can be used in the real estate world. That in the last 20, 30 years,
1:35.8	has really taken off. Folks, especially in the real estate world, have been able to see it.
1:41.0	Some of the benefits, for example, just very secure. There's companies, again,
1:47.5	that have been around for 150 plus years that have never missed a profitable year. That's a pretty
1:52.9	secure place to have your money. It's almost like banks keep their money there, like Bank of America,
1:58.6	Wells Fargo, et cetera. So cash value in these policies
2:02.6	grows on a very on a tax favored basis when they're designed properly. There's tax-free
2:09.3	dividends and tax-free withdrawals and tax-free collateral loans available. That's the big ticket on
	...

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