The Prosperity Podcast

Summary:

Why are bridge loan investments profitable, and what documentation should you have before starting? What are the risks of bridge loan investments? Find out the answers to these questions and more as Kim Butler and Todd Strobel discuss bridge loan investments, both from the perspective of an investor and a realtor.

Also, please keep sending us all the good questions and feedback. We'd love to answer your questions in one of our upcoming shows and we appreciate your support!

Show Notes:

00:00 Intro

00:44 What Is A Bridge Loan Investment?

02:49 Why Do Bridge Loans Make Sense?

05:14 Three Different Sections of Documentation for Bridge Loans

06:11 1. Documentation Section 1: The Borrower

• loan application for each borrower
• resumes and background for the borrower
• entity validation
• list of projects the borrower has already completed
• written management/disposition strategy for project

07:09 2. Documentation Section 2: The Property

• an appraisal report
• title insurance
• a survey of the property
• sales contract
• hazard or builder's risk insurance

07:54 3. Documentation Section 3: The Construction

• full set of construction plans
• copies of building permits
• itemized cost breakdown of all construction phases
• full building/material specs
• structural engineering report
• construction contract
• contact information for everyone involved

09:26 Looking at Bridge Loans from the Perspective of a Realtor

To find out what rate of return your property should be earning:

• visit truthconcepts.com for Todd Langford'ss calculator system w/ real estate calculator OR
• ask Kim for fillable pdf, email it back to her, and she will do the calculation for you
• (full disclosure Todd Langford is Kim Butler's husband)

12:15 Recommendations on Specific Bridge Loans and Investments

14:01 All Bridge Loan/Mezzanine Financing Are Not The Same

16:34 Outro

Why are bridge loan investments profitable, and what documentation should you have before starting? What are the risks of bridge loan investments? Find out the answers to these questions and more as Kim Butler and Todd Strobel discuss bridge loan investments, both from the perspective of an investor and a realtor.

Summary:

Join Kim and Todd on this episode of the Prosperity podcast as they discuss the importance of creating wills, trusts, and power of attorney and keeping them updated. Find out what the minimum age is to start worrying about these documents, and the minimum amount of money you should have to create a living trust.

Also, for help creating and updating all these documents visit nnepa.com (national network of estate planning attorneys) to find an attorney in your area to help you with you paperwork, for one flat fee.

Please keep sending us all the good questions and feedback at [email protected]! We appreciate your feedback and support!

Show Notes:

0:00 Intro

0:37 Documentation: The Documents That You Sign

1:34 Looking At Wills, Trust, Healthcare, Power of Attorney: The Importance of Paying Attention

2:18 Getting Help to Update Your Documentation

• visit nnepa.com (national network of estate planning attorneys)
• finding an attorney in your area to get to create the necessary documents and keep them current

3:24 Making Changes to Your Documents While You Can

5:34 Is There A Minimum Age To Start Worrying About These Documents?

6:19 Keeping Life Insurance Policies Updated

6:48 At What Dollar Figure Should You Have a Living Trust?

7:45 The Consequences of Neglecting a Living Trust

9:32 How Often Should You Review Your Documents?

10:02 Sharing Financial Information at the Appropriate Time

11:21 Outro

Summary:

On this episode of the Prosperity Podcast, we're proud to welcome a new guest, Gina Wells, President of an Advanced Capital Group in Detroit. Gina Wells is an expert of financial planning and social security, so today we talked about new social security laws introduced in Congress's Bipartisan Budget Act.

Understanding social security and planning for your retirement is a huge part of anyone's financial health, so make sure you don't miss this episode of the Prosperity Podcast!

Also, make sure to call Gina Wells at 801-579-5808 to take receive a free, 6 page social security report for just for you.

And of course, don't hesitate to reach out to us at [email protected], with all your questions, comments, and concerns. We'd love to hear from you!

Show notes:

0:00 Intro

0:31 Introducing Gina Wells, President of Advanced Capital Group

2:01 Understanding New Social Security Laws

3:02 Finding Your Social Security Earnings Record:

1. Visit www.socialsecurity.gov/myaccount to understand your estimated benefits

3:45 Important New Dates to Know with Social Security

5:25 What Is a File and Suspend Rule?

11:03 How to Find Your Free 6 Page Customized Social Security Report

1. Come prepared with your most recent social security report that you can find here
2. Call Gina Wells at 810-579-5808
3. Be prepared to talk longevity, assets, family circumstances etc.
4. Receive your free, completely customized, 6 page social security report!

12:51 The New Social Security: No Guarantees - What Does That Mean For You?

15:39 Outro

Join Bestselling author, Kim Butler and Todd Strobel as they discuss insurance dividends - what are they, where they come from, and what they can be used for. Figure out whether or not you can change your dividend policy, and what the most common strategy for dividends are.

Summary:

Join Bestselling author, Kim Butler and Todd Strobel as they discuss insurance dividends - what are they, where they come from, and what they can be used for. Figure out whether or not you can change your dividend policy, and what the most common strategy for dividends is.

If you're looking to learn about your insurance policy, ask for an "inforce" illustration or ledger from your insurance company. Then feel free to send it over to Kim and she'll be happy to explain it to you, in plain english. She'll tell you whether it's universal life or whole life, the internal rate of return, strategies for how to save the policy if it's starting to have problems, etc.

As always, we appreciate your questions, concerns and comments! Send us an email at [email protected].

Show Notes:

00:00 Intro

0:56 Dividend Election: What They Are, Where They Come From

03:03 Do All Insurance Companies Pay Dividends?

04:33 What Else Can You Do With Your Dividends?

05:42 Can You Change Your Dividend Policy?

06:22 Using the Dividend to Buy Term Riders

07:26 A Strategy for Modified Endowment Contracts and Dividends

08:43 Which of These Strategies Are Used Most?

08:55 Repaying Your Loans Using Your Dividends

10:58 How can I learn about my insurance policy?

• call your insurance company
• ask for an "inforce" insurance illustration or ledger
• email it to kim
• she'll be more than happy to explain and discuss it with you!

12:31 Outro

Summary:

Tune in with Todd and Kim as they discuss one of the most common theories of saving: The Bucket Theory - and what's wrong with it! Learn how to "pick a side of the fence" with your savings and investment for more control over your money. Find out which savings vehicle is best for you and how your government sponsored saving account might be hurting you - especially if you have college aged kids!

If you would like the opportunity for us to answer your question on the show or to be a guest on our show, be sure to keep sending us questions and reach out to us!

Show Notes:

0:00 Intro

0:43 The Bucket Theory: Setting aside buckets of money for specific purposes

1:11 The Big Idea: Why the Bucket Theory is wrong and you shouldn't split up your money

4:22 The Ability to Act Like Equity: What your savings dollars should be available for

5:11 The Other Side of the Fence: The difference between savings and investment

6:33What Type of Savings Vehicle Is Best For You?

7:36 What's wrong with government sponsored saving accounts: don't be penalized for saving

9:24 Resources for listeners:

• The Financial Planning has Failed ebook

• Busting the Retirement Lies: Living with Passion, Purpose and Abundance Throughout Our Lives

• Partners for Prosperity blog

10:18 Outro

Summary:

Are you an honest banker? You probably think the answer to that is yes, but it might not be as simple as you think. Tune in to Todd Strobel and best selling financial author Kim Butler as they discuss the meaning of being an honest banker - especially when it comes to paying yourself back.

If you have an comments, tips, or questions, - or you'd like to be a quest on our show! shoot us an email at [email protected]. Thanks for listening!

Show Notes:

0:00 Intro

1:11 Why You Should Be An Honest Banker

1:31 What It Means to Own A Loan

2:53 Paying Yourself Back: Being an Honest Banker with Your Savings

3:30 Borrowing Against Your Life Insurance Cash Value & Remaining Honest with Yourself

4:45 What Does it Mean to Borrow Against Your Life Insurance Cash Value?

5:52 Why Would You Want to Pay the Principle of This Type of Loan?

8:24 What We Recommend: Handle Your Loan Based on What You Borrowed Against Your Cash Value For

9:44 The Time Value of Money: Paying Yourself Back With Interest

11:47 Being an Honest Banker: Even with Family?

12:40 Outro

Today, on the Prosperity Podcast, Todd and Kim discuss how life insurance companies make money and get paid. Kim explains the life insurance model and how it works. Todd describes how premiums are handled. They wrap-up by separating life insurance from other insurances and why that is important.

If you would like the opportunity for us to answer your question on the show or to be a guest on our show, be sure to keep sending us questions and reach out to us!

Show Notes:

[0:00] Prologue [0:19] Intro [0:47] Overview [1:37] Explaining the Life Insurance Model [4:55] Collecting Premiums [7:36] Separating Life Insurance From All Other Insurance [10:34] Summary and Rates of Return [12:15] Outro

Today, on the Partners 4 Prosperity Podcast, Todd and Kim discuss how life insurance companies make money and get paid. Kim explains the life insurance model and how it works. Todd describes how premiums are handled. They wrap-up by separating life insurance from other insurances and why that is important.