All Forum Posts by: Sean Winchell
Sean Winchell has started 5 posts and replied 22 times.
Post: Infinite banking system

- Chicago, IL
- Posts 22
- Votes 14
I am giving some real numbers here so maybe someone can help see what I am, or those that are having a hard time of grasping the benefit missing.
Do all these policies grow at different rates? This one I have looks like grew only at 3.5% (based on a dividend of $1743.54 from a $50,203.23) The part I am having a hard time grasping is if I borrow against the policy close to the max cash in it, 56K at 6% (which is a fixed rate for the life of the policy), I end up paying 3360. My dividend is only going to be $1960. Does this not erode any benefit? (besides the obvious extra death component) Even if I add an extra 20K and over fund the policy the ratio does not change just the numbers.
Thanks again always trying to learn and level up,
Sean
Post: Guidance Starting Out

- Chicago, IL
- Posts 22
- Votes 14
Hey Adam!
It sounds like you and your wife are likely Doc's. I am an ER nurse and have run into this conundrum with some of the Doc's I work with. They have asked my advice after knowing me for a while and hearing I had entered the RE space as an agent and investor. What I told them was to first decide goals and how hands on they wanted to be. So of you don't want to leave the W2 world(goal to replace your income immediately with cash flow) then just decide how much time do you want to invest into your business and how hands on you want to be with the process.
Syndication to me is not too dissimilar to just investing in REITS. If you want to gain true value its all about equity positions over time. Especially for a doc who may not need the cash flow but needs tax benefit, and proper diversification for retirement. If you want to gain equity positions you can do that with partnerships with people that want to and have done the work in the past, and you can be the bringer of mighty capital to the table. There are plenty of us who run out of capital and are looking for partnerships to invest with. Find someone aligned with your goals and works with your limited time. Shoot me a message if you have anymore questions, there is one doc in your exact position who almost syndicated but decided to partner instead after we talked. Good luck brother.
Sean
Post: Infinite banking system

- Chicago, IL
- Posts 22
- Votes 14
What would be the easiest way to tell if the whole life policy I got 12 yrs ago is structured this way? It allows me to pull out overfunded cash reserves as a loan against myself for 6%. Alot of this is very confusing to see if I am benefitting from continuing the policy. I know in the beginning I saw more of premium going towards the cost of the policy but now it looks close to equal. Here are the most current numbers for context.
2022 (1) 2023 (2)
Basic Policy Cash Value $47,920 (1) $54,220 (2)
Basic adds cash value $2,283.23 (1) $2,363.13 (2)
Ending Policy cash value $50,203.23 (1) $56,583.13 (2)
(1) is for 2022 (2) is for 2023
Policy Effective Date 9/24/2012
Total Billed Premium $6475
Base Face Amount 500K
Primary Dividend Option: I chose to apply to reduce premium the dividend I got was 1,743.54. Effectively making it so I paid 4,731 of my cash into the policy this last year.
Secondary Dividend Option: paid up additional insurance
Questions are
1. If i take out a 59K loan does this not erode any benefit of my dividend? Since i will be paying $3540 on the loan. (this erodes into the whole life policy and I am not necessarily required to pay it back but could cause the policy to lapse, which I don't understand how)
2. Having a hard time understanding if this policy is worth continuing and is actually benefitting me besides the death benefit.
3. Is this an example of the infinite banking model?
---Thanks guys interesting topic!
Sean
Post: BRRRR Charlotte and or Fix and Flip

- Chicago, IL
- Posts 22
- Votes 14
Hey BP family,
I am looking to connect with some general contractors in the Charlotte and north of Charlotte area, specifically by Lake Norman. If anyone has any recommendations that would be amazing. I am looking to do some conversions from SFH to duplex on a couple properties and build relationships for future BRRRR opportunities!
---Sean
Post: General Contractors in Charlotte, Lake Norman area

- Chicago, IL
- Posts 22
- Votes 14
Hey BP family,
I am looking to connect with some general contractors in the Charlotte and north of Charlotte area, specifically by Lake Norman. If anyone has any recommendations that would be amazing. I am looking to do some conversions from SFH to duplex on a couple properties and build relationships for future BRRRR opportunities!
---Sean
Lol! Did the initial contract become unexecutable? At least the daughter is not trying to raise the price....Hopefully....
Post: Looking for inspection company recommendation in Charlotte, NC

- Chicago, IL
- Posts 22
- Votes 14
I recently bought a condo seller financed and used buyers protection home inspection and was happy with them. Competitive and competent. Congrats on your deal
Post: 10-Unit Multifamily BRRRR Infinite Cash on Cash

- Chicago, IL
- Posts 22
- Votes 14
Wow that's awesome ! 👏 congrats
Post: Need Urgent Advice: Red Flag Tenant

- Chicago, IL
- Posts 22
- Votes 14
I definitely would not run from the deal if it pencils. You will inevitably run into these tenants no matter what you purchase. Just be firm out the gate, people treat you how you teach them to treat you. I would make sure the current owner serves the written notice that the tenant missed a payment and has 3 days(depending on where you are) to make payment. So if you need to you can proceed with eviction process and not delay further. Good luck, marry the property if you like it, not the tenant.
Post: Fix and flip partner/ joint venture

- Chicago, IL
- Posts 22
- Votes 14
I'm new and could be way off, but I would find a deal then show your plan for a property and what the investors return on investment would be if they did a JV with you. Would probably be more likely to get a partner for a venture. Find the deal and you will find the $$ is what I keep hearing!