All Forum Posts by: Jeffrey Evans

@Chris Seveney 

although I suppose anyone looking to do a syndication cold do it from the PMC to find investors.  My understanding is you can use it to try and borrow for pretty much anything.  The members looking to lend just pick who, or a deal they want to lend to.

Quote from @Angie Dickson:

@James French I have been following Chris for a while and I am a firm believer in infinite banking. I didn’t go with his company to set up my life insurance policy. They came across too pushy and didn’t get enough detail and when you’re new to something and about to put an abundant amount of money somewhere, you want to feel safe and like you have all the information and I just didn’t with his team. I do still listen to their webinars, etc. I haven’t loaned any money out and not sure if I will, but definitely believe it is a great way to make money. 

 Same for me.  I like his content and follow him.  But the marketing ect was a little over the top for me to get my policy with them.  Although I believe if you do a IBC policy with them you get a yr membership to the PMC. I am not for sure on that though.  

Quote from @Chris Seveney:

@Jeffrey Evans

$1000 to find a deal I agree - there are tons of syndications and funds available for real estate investors today since jobs act that you can invest in and do your own research on.

 The PMC isn't a syndication or anything.  Although I believe Chris and his team have one.   As Chris describes it PMC is a dating site for people needing money to do a deal and for people wanting to lend money to make a 10-12% return.  Pretty cool I suppose.  Still a lot of work do underwrite a deal and vet the person to make sure you trust them to lend to.  Syndication is def more passive, but usually a 4-7yr deal tying your money up.  In PMC the lender dictates whatever terms he/she is wanting.  Some people on there do a lot of deals.  I guess once you found a good person to lend to and trust them it would be pretty passive after that as long as you just lended to that person.  

My only regret is not starting one sooner.  Plus it helps me be motivated to save the money to put into it each yr.  its much harder for me to just save that money to let it sit in a bank. Now that I trust how easy it is to access it feels safe and comfortable putting it in the policy. 

I watch some of his vids and stuff.  Seems legit but I don't know anyone who has personally done anything in the PMC.  Seems legit though.  Just a place for lenders to find borrowers and vs vrsa.  Its my understanding that the individuals are responsible for all the legalities, contracts ect to make it safe not to get ripped off.  But 1000$ to find a hard money lender, or find a deal you want to lend to seems pricy. But maybe its worth it if you don't have a place to get hard/private money for deals. 

I got a policy recently and it has been great so far and lived up to they hype.  Like everyone says it just has to be set up correctly and all.  Many haters out there when they hear whole life insurance, but it has done everything I was promised and more.  I dumped some money in and 1 day after it funded I had 85% or so of it back in my checking account ready to invest.  Plus it helps put the wife at ease knowing it would pay her enough to pay off everything and keep the rentals for her income.  I advise watching as many vids and webinars ect as you can.  Take notes and write down questions.  Then talk to multiple people that specialized in building these policy's and ask them questions.  Go with the one you jive with better.

Quote from @Alicia Marks:

Quote from @Jeffrey Evans:

I got one recently and it has worked as it is suppose to.  Better actually.   I put money in and it funded on a Friday, I put in to take it back out that day and it was back in my account the next day ready to deploy in other investments ect.   I was able to take out around 90% or so of the cash value the 1st day it funded.  I was very skeptical and put off getting one for a couple years due to it sounding to good to be true.   But so far it has worked as it was designed to.  

 Could you let us know who you went through? There are so many policies that don't work for people that they can get a bad name, so having a list of ones that do would be great.

I got mine through Barry Brooksby at insurance and estates.   He was great and had been answering my emails and questions for over a yr. So wanted to give him the business. I like Chris Myles and his team also but don’t have a policy with him.  

I got one recently and it has worked as it is suppose to.  Better actually.   I put money in and it funded on a Friday, I put in to take it back out that day and it was back in my account the next day ready to deploy in other investments ect.   I was able to take out around 90% or so of the cash value the 1st day it funded.  I was very skeptical and put off getting one for a couple years due to it sounding to good to be true.   But so far it has worked as it was designed to.  

Quote from @Dan Patella:

Quote from @Jeffrey Evans:

Congrats!!  NB was the place I picked up my first rental also..  

 That's awesome to hear! It looks like you also own a property in Louisville. What made you choose that market?

@Dan Patella Long story short... 

The Tx place was a new build, which tied up a lot of capitol. I got obsessed with it all and just listened to every podcast and read everything I could. Everyone was talking about the BRRRR method. It seemed to be one of the best ways to speed up my ability to get places. I was looking into trying it in the San Antonio market but it is difficult to get it all dialed and everything from out of State being a newbie. I randomly heard a podcast with Evan Manship from Mainstay property wholesale group in Indy. They have pre approved hard money guy for the deals and the brother runs the construction/rehab side. I spoke to them and like them so got on there email list. They do deals in Louisville also and I just felt a little more at ease for some reason with Louisville. I think it just felt like a little smaller quant town compared to Indy but big enough to be considered for investing in. So picked a cheap little place up from them. I had planned to rehab it and brrrr it but the tenant that was in it agreed to pay the rent I wanted and I didn't do any work to it. It felt a little safer (even though its prob not) having everything in a one stop shop. The deal the lenders (hard and traditional) the rehabber and the property management. I learned a lot, even though I didn't brrrr the place and would do it again. I Later visited Indy/Louisville and like both and plan to invest there in the future. Tx is Killing it on the appreciation side and the KY place is the cheap cash flow place for me.

anyway hope that wasn't confusing and hard to follow :). 

Have a great weekend.  

I had a place under contract in KY that a room had no closet and found out it couldn't legally be a bedroom.  I would imagine I could have rented it ect but as far as appraisal and all it wouldn't be included in the bedroom count.