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All Forum Posts by: Chad Chalmers

Chad Chalmers has started 1 posts and replied 7 times.

Post: Infinite Banking Concept

Chad ChalmersPosted
  • Financial Advisor
  • Dallas, TX
  • Posts 7
  • Votes 2
Quote from @Ben Zimmerman:
Quote from @Richard Hadley:

 think it's a great idea because you gain the interest that you would pay on a mortgage to a bank on top of the dividends earned.


 You don't actually "earn" dividends.  These dividends are classified as a refund of overpaid premiums by the mutual insurance company which is why the dividends are not taxed.

Think of it this way, if you buy a lemonade for $1 and hand the guy a 20, you will get $19 back.  You didn't "earn" 19 dollars and you won't be taxed on this 19, since it’s our just simply a refund of how much you overpaid for the product.  

So your money doesn’t earn any interest in the policy? That analogy seems pretty farce.

Post: Infinite Banking Concept

Chad ChalmersPosted
  • Financial Advisor
  • Dallas, TX
  • Posts 7
  • Votes 2
Quote from @Ben Zimmerman:
Quote from @Richard Hadley:

 think it's a great idea because you gain the interest that you would pay on a mortgage to a bank on top of the dividends earned.


 You don't actually "earn" dividends.  These dividends are classified as a refund of overpaid premiums by the mutual insurance company which is why the dividends are not taxed.

Think of it this way, if you buy a lemonade for $1 and hand the guy a 20, you will get $19 back.  You didn't "earn" 19 dollars and you won't be taxed on this 19, since its just simply a refund of how much you overpaid for the product.  

Post: Should I pursue this?

Chad ChalmersPosted
  • Financial Advisor
  • Dallas, TX
  • Posts 7
  • Votes 2

@Steve Adler Since it’s more than 4 units the deal we would base the deal on the numbers instead of comparable’s.

Where is this property located?

What’s the capitalization rate?

Do you know the monthly expenses?

What’s the unit mix?

Post: Do I need to be licensed to whole sale?

Chad ChalmersPosted
  • Financial Advisor
  • Dallas, TX
  • Posts 7
  • Votes 2

@Jake Hill it’s prohibited per each state’s law. There are a handful of states that require a license to conduct a wholes transaction.

Post: Is six figures really the norm to join REI training groups?

Chad ChalmersPosted
  • Financial Advisor
  • Dallas, TX
  • Posts 7
  • Votes 2

@Darius Ogloza thank you!

Post: Is six figures really the norm to join REI training groups?

Chad ChalmersPosted
  • Financial Advisor
  • Dallas, TX
  • Posts 7
  • Votes 2

@Joe Splitrock thank you for your input. I really appreciate it. 👍🏾

Post: Is six figures really the norm to join REI training groups?

Chad ChalmersPosted
  • Financial Advisor
  • Dallas, TX
  • Posts 7
  • Votes 2

I understand building a strong network is essential when it comes to real estate investing. If you don’t have your first deal working with those that do almost seems like a waist of their time from recent experience. On another note being marketed to join a community of like minded real estate investors seems to just end up in a sales call to hand over my credit card for $5000 to $20000. Is this normal? There has to be another way where sweat equity can buy your way into a community of investors right?