Infinite banking refers to a process by which an individual becomes his or her own banker, but what exactly does that mean? And what are the benefits? Today’s guest is Harper Jones, who is located in Knoxville, Tennessee, where he invests in real estate, focusing on wholesaling and multifamily investments. He prefers to get creative with real estate deals when possible, and utilizes infinite banking alongside his investments.
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There have been a few people on the show who have talked about this infinite banking strategy or concept, but there aren’t too many real estate investors that are using it. In this episode, Harper explains how he and his team are using this strategy, and he shares some tips from a recent deal, and how they creatively financed it. Getting into this business and thinking outside the box is difficult in the beginning, so this will be a very useful episode for many of us. Tune in today!
Key Points From This Episode:
- Harper introduces himself, explains how he got into real estate and some of his first deals.
- The scarcity mindset Harper had early on – how he grew past it and what he learned from it.
- From wholesaling to buying rentals and holding them and having a more long-term mindset.
- The details of this creative financing deal Harper and his team closed on recently.
- How Harper and his team are using infinite banking as investors and how it is beneficial.
- The difficulty of transactions with the insurance company depends on the extent of your research.
- Ask what the company’s policies are upfront and find a good coach or agent to work with.
- The downside is cash drag – you have to be willing to sacrifice a bit in the first few years.
- The biggest benefits are that all of the growth on the money in the account is uninterrupted, compounding, and tax-free.
- Harper is working to improve his business by outsourcing management to a third party.
- Harper attributes his success to being open-minded and building strong relationships.
- Harper likes to give back by providing resources to those reaching out to learn from him.
[bctt tweet=”You want to have someone who is an IBC friendly company, who is okay with you taking a lot of policy loans, or even advocates for it, and has a good product to where it is not affecting the policy when you’re banking with it. — @harperajones” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Harper Jones
Harper Jones is an advocate for Infinite Banking and joined CreateTailwind as a strategist to teach people how to become their own banker. One of his favorite books is Becoming Your Own Banker by Nelson Nash. This book led him to the world of the Infinite Banking Concept. Harper is located in Knoxville, TN and invests in real estate where he focuses on wholesaling, flipping and multi-family investments. He received a Finance Degree from the University of Tennessee, Knoxville.
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