Thinking Like a Bank

Have you heard of premium financing? If you've been researching the Bank on Yourself Concept as well as cash value whole life insurance, then you may have recently learned about premium financing.

Premium financing is a complex subject that requires careful consideration and research. Check out this episode with Certified Financial Planner, Mark Willis of Lake Growth Financial Services, to learn more about premium financing and how it works.

🔥 This episode talks about:

☑️ ​What is premium financing and how does it work?

☑️ The repayment structure and interest rates typically involved 

☑️ The benefits and risks associated with premium financing?

☑️ How does collateral work in premium financing and what other assets are typically required as collateral?

☑️ The potential risks associated with using Index Universal Life (IUL) in premium financing 

☑️ What is the primary purpose of premium financing and how does it relate to estate planning?

☑️ How does premium financing compare to a non-direct recognition whole-life policy in terms of cash accumulation and risk?

☑️ The advantages of utilizing a non-direct recognition whole-life policy over premium financing in terms of risk management and long-term financial planning.

To connect with Mark Willis, please visit:

👉Website:➡️https://lakegrowth.com/

👉Linkedin: ➡️https://www.linkedin.com/in/marklakegrowth

👉Facebook: ➡️https://www.facebook.com/lakegrowth

👉Twitter: ➡️https://twitter.com/LakeGrowth

👉Instagram: ➡️https://www.instagram.com/notyouraveragefinancia/

👉YouTube:➡️https://www.youtube.com/channel/UCw-DvhKT2EaPFdncLy39LIQ

👉Not Your Average Financial Podcast: ➡️https://nyafinancialpodcast.com/

👉Book: 📚 Amazon: Mark Willis Book

👉To learn more about what we do and how we can help you grow more wealth, please visit ➡️ https://finassetprotection.com

👉You can also schedule a free call with us: ➡️ https://calendly.com/financialservicesins

📢💡 📚 Free "Thinking Like a Bank" ebook. Learn to think like a bank by downloading a free copy here: ➡️ https://thinkinglikeabank.com

🚧 👉 **Not intended to be financial advice. Please consult a professional who knows your specific situation.

Trisha Talbot advises physician owners and investors with opportunities in the healthcare real estate asset class. 

Her track record in investment sales, landlord representation, corporate representation and tenant representation offers clients trusted experience with comprehensive strategies with pricing, market fluctuations and problem solving solutions that result in successfully close transactions.

Aligning the real estate investment requirements of property owners and physician investors together with the corporate goals of the healthcare companies that occupy medical facilities has made Trisha a leader in the healthcare real estate brokerage community. Her performance and production achievements are recognized annually.

Trisha lives in Scottsdale, Arizona with her wonderfully patient husband and two gracious children that support her drive to make an impact helping clinicians share their gift to heal others.

🔥 This episode talks about: 

☑️ Trisha's background in the commercial real estate industry

☑️ Key insights in managing a brokerage firm

☑️ The “Food Groups” of real estate investment

☑️ What is healthcare real estate, and how is it different from other types of asset classes? 

☑️ Important factors to consider when investing in healthcare real estate

☑️ Top considerations for healthcare professionals when searching for medical space

☑️ The key differences between investing in medical office assets versus retail assets

☑️ Underwriting process for these types of assets 

☑️ Has the Pandemic changed this type of asset class? 

☑️ Which geographic areas are more favorable for medical offices? 

☑️ The current interest rate environment and its effect on financing medical offices 

To connect with Trisha Talbot  and learn more about investing in medical office, please visit:  

👉Company Website:➡️https://docproperties.com/trisha-talbot/

👉Linkedin: ➡️ https://www.linkedin.com/in/trishatalbot/

👉Facebook:➡️ https://www.facebook.com/docproperties

👉Instagram:➡️ https://www.instagram.com/docproperties/

👉Email: 📩 [email protected]

👉To learn more about what we do and how we can help you grow more wealth, please visit ➡️ https://finassetprotection.com

👉You can also schedule a free call with us: ➡️https://calendly.com/financialservicesins

📢💡 📚 Free "Thinking Like a Bank" ebook. Learn to think like a bank by downloading a free copy here: ➡️ https://thinkinglikeabank.com

🚧 👉 **Not intended to be financial advice. Please consult a professional who knows your specific situation.

John Neral is a certified professional coach who helps mid career professionals prepare, position, and promote who they are and what they do so they can show up to find a job they love or love the job they have. John's professional walk included a 25 year career in education and a long standing corporate consultant for a Fortune 500 Giant, Cassio America Inc. 

John is the author of Show Up, which explains six strategies to lead a more energetic and impactful career, and Your Mid Career GPS, which talks about four steps to figuring out what's next, and the host of the Mid Career GPS podcast. John is an avid game show enthusiast and professional bowler who won a title on the PBA regional tour and still actively competes.

He lives outside of Washington, D. C. with his spouse.

🔥 This episode talks about: 

☑️ How did John's academic background lead to a significant career change?

☑️ The commonalities between a professional athlete and an entrepreneur.

☑️ The importance of being consistent as an entrepreneur 

☑️ What is the difference between additive and repetitive? 

☑️ The 4 F's to consider in your career search

☑️ John's authored books available on Amazon

☑️ What are stretch goals?  

☑️ How do stretch goals change your life?

☑️ When to pursue stretch goals? 

To connect with John Neral and learn more about career development coaching, please visit:  

👉Company Website:➡️https://johnneral.com

👉Linkedin: ➡️ https://www.linkedin.com/in/johnneral/

👉Facebook:➡️ https://www.facebook.com/john.neral.5

👉Instagram:➡️ https://www.instagram.com/johnneralcoaching

👉To learn more about what we do and how we can help you grow more wealth, please visit ➡️ https://finassetprotection.com

👉You can also schedule a free call with us: ➡️https://calendly.com/financialservicesins

📢💡 📚 Free "Thinking Like a Bank" ebook. Learn to think like a bank by downloading a free copy here: ➡️ https://thinkinglikeabank.com

🚧 👉 **Not intended to be financial advice. Please consult a professional who knows your specific situation.

John Ensley is leading a financial planning revolution to help you take back control of your money, your lifestyle, and your retirement plan. John believes ordinary financial planning is failing too many Americans. After losing almost everything during the Great Recession, John became obsessed with finding safe, predictable ways to save and create wealth, protected from the chaos and corruption of the conventional financial system. 

Founded in 2012, John is president of J-Ensley Financial, a fiduciary financial planning company, and Registered Investment Adviser.  John holds a Chartered Financial Consultant designation from the American College of Financial Services, passed the rigorous series 65, investment advisers law exam, and is one of an elite group of highly trained Bank On Yourself® Professionals. 

🔥 This episode talks about:

☑️ Professional and financial challenges that served as a wake-up call and transformed John's perspective on personal finance.  

☑️ John's introduction to the Bank On Yourself concept. 

☑️ What is conventional financial planning?

☑️ John’s unconventional financial strategies and how they are different? 

☑️ How does the Bank on Yourself concept improve other investments? 

☑️ Examples of how Bank On Yourself is used in a financial planning setting 

☑️ How Bank On Yourself can help in an inflationary environment? 

To connect with John Ensley and to learn more about Bank on Yourself Concept, please visit:

👉Website:➡️https://jensley.com/

👉Website:➡️https://jumponwithjohn.com/

👉Linkedin: ➡️https://www.linkedin.com/in/johnensley/

👉To learn more about what we do and how we can help you grow more wealth, please visit ➡️ https://finassetprotection.com

👉You can also schedule a free call with us: ➡️ https://calendly.com/financialservicesins

📢💡 📚 Free "Thinking Like a Bank" ebook. Learn to think like a bank by downloading a free copy here: ➡️ https://thinkinglikeabank.com

🚧 👉 **Not intended to be financial advice. Please consult a professional who knows your specific situation.

Grace Lee is a  social media agency owner, strategist, content creator, and podcaster based in New York City. She started in the social media space as a personal style blogger in 2010 and shifted to working in social media in a corporate setting after college. In 2020, Grace started Gracefullee Made social media agency where they focus on storytelling through content creation, organic social growth, and brand strategy on various platforms.

Her passion lies in helping brands find their voice on social media platforms while enriching those communities to help meet business goals. 

🔥 This episode talks about: 

☑️ ​​​Grace's extensive experience within the social media industry.

☑️ How blogging has changed over the last 10 years? 

☑️ Is it essential for every small business to have a presence on social media platforms?

☑️ Who is Gracefulleemade? What specific services do they specialize in?

☑️ The importance of social media engagement, and what strategies can be used to improve engagement?

☑️ Quick and actionable social media tips for small businesses to improve their online presence.

☑️ Why is the planning phase essential in the realm of social media management?

☑️ Factors to consider before hiring a social media agency.

To connect with Grace Lee and to learn more about social media management, please visit:

👉Website:➡️https://www.gracefulleemade.com/

👉Linkedin: ➡️https://www.linkedin.com/in/grace-lee-403024127/

👉Facebook: ➡️https://www.facebook.com/gracefulleemade

👉Instragram: ➡️https://www.instagram.com/bygracelee/

👉YouTube: ➡️https://www.youtube.com/graceleeblogger

👉To learn more about what we do and how we can help you grow more wealth, please visit ➡️ https://finassetprotection.com

👉You can also schedule a free call with us: ➡️ https://calendly.com/financialservicesins

📢💡 📚 Free "Thinking Like a Bank" ebook. Learn to think like a bank by downloading a free copy here: ➡️ https://thinkinglikeabank.com

🚧 👉 **Not intended to be financial advice. Please consult a professional who knows your specific situation.

​It's officially episode 100!!!

Thanks for listening this far. We hope you're getting a lot of value out of this podcast.

Please let me know if you'd like me to do an episode about a specific topic you are interested in. Also, if you'd like to share your story and expertise on our podcast, please send me an email at [email protected] to learn more about becoming a guest on our podcast.

I've been spending the last two weeks trying to think of a topic to talk about on the solo episode, and then it hit me. I should record an episode about Nelson Nash's book, Becoming Your Own Banker. Some of our clients haven't read the book, so I decided to do a book review episode where I can discuss some key points of Becoming Your Own Banker since it has a lot to do with the Bank on Yourself Concept, as well as growing wealth from a general financial planning perspective.

🔥 This episode talks about: 

☑️ Who is Nelson Nash?

☑️ How do you become your own banker? 

☑️ What is arbitrage and how does it work when you leverage your dividend-paying whole life insurance?

☑️ How do life insurance loans work? 

☑️ Life insurance loans vs. other types of loans? 

☑️ The advantages of borrowing against your dividend whole life insurance policy

☑️ How can you increase the cash value of your life insurance policy?

☑️ What are headwinds and tailwinds in business?

☑️ What is Fractional Reserve Banking?

☑️ How insurance companies manage a pool of capital? 

☑️ The Law of Large Numbers in the insurance industry and how this helps you mitigate risk 

☑️ What is paid-up insurance? 

☑️ What is a Modified Endowment Contract (MEC)?

☑️ The tax implications of a whole life insurance, if non-MEC

☑️ What is self-insurance? 

☑️ How long does it take to build up cash value in a dividend-paying whole-life policy? 

☑️ Can you take out life insurance on someone else?

👉To learn more about what we do and how we can help you grow more wealth, please visit ➡️ https://finassetprotection.com

👉You can also schedule a free call with us: ➡️ https://calendly.com/financialservicesins

📢💡 📚 Free "Thinking Like a Bank" ebook. Learn to think like a bank by downloading a free copy here: ➡️ https://thinkinglikeabank.com

🚧 👉 **Not intended to be financial advice. Please consult a professional who knows your specific situation.

David Putz, the CEO of JKP Holdings LLC. In 2010, Dave Putz decided he was tired of dealing with the headaches of being a landlord.

He had been involved in property rehabs and rentals since 2005, and five years later, chasing people down for rent, dealing with maintenance issues, and coughing up cash to cover expenses when properties were vacant just didn’t seem worth the return.

Dave began his experience of looking for more passive income with distressed notes by working at a private equity fund. During his time at the fund, Dave analyzed large quantities of non-performing notes and consulted on which assets to purchase.

In late 2012, he left the fund to start personally investing in notes nationwide and later formed his company, JKP Holdings.

In 2016, Dave started a nationally-known webinar where he uses his relationships with other experts in the same space to speak on topics related to note investing.

Dave has created and utilized many forms of automation to expedite repeat tasks to reduce errors and increase time efficiency, which he passionately shares with his community and on his website. In 2021, JKP Investment Community was created. The Community is a weekly mastermind of like minded investors who get together to assist each other in obtaining their 6 month and yearly investment goals.

Together with his experience and strong relationships, Dave’s extensive knowledge in the space of Note investing has provided great success and profit to JKP Holdings and partners.

🔥 This episode talks about:

☑️ The differences between investing in real estate vs notes 

☑️ How can you invest in a note?

☑️ Examples of how mortgage notes work 

☑️ Lienlord vs. Landlord

☑️ Where to find notes for sale?

☑️ How much do you typically need to get started buying notes?

☑️ What types of notes should one buy if he/she is new to the industry? 

☑️ Non-Performing vs. Performing Notes

☑️ What to do after your first note? 

☑️ Expected ROI/IRR when investing in notes? 

☑️ Can anyone buy and sell mortgage notes without any restrictions?

☑️ The advantages of investing in notes and their tax implications?

☑️ Some of the drawbacks to note investing? 

☑️ What is a short sale in real estate?

☑️ The difference between a mortgage deed and a note? 

☑️ Who is JKP Holdings LLC and what services do they offer?

To connect with David Putz and to learn more about note investing private equity fund, please visit:

👉Website:➡️http://jkpholdings.com/about-us

👉Linkedin: ➡️https://www.linkedin.com/in/daveputzjr/

👉To learn more about what we do and how we can help you grow more wealth, please visit ➡️ https://finassetprotection.com

👉You can also schedule a free call with us: ➡️ https://calendly.com/financialservicesins

📢💡 📚 Free "Thinking Like a Bank" ebook. Learn to think like a bank by downloading a free copy here: ➡️ https://thinkinglikeabank.com

🚧 👉 **Not intended to be financial advice. Please consult a professional who knows your specific situation.

Today, Mark Willis of Lake Growth Financial Services and ​Sarry talked about what is happening in the banking world, specifically why banks are in danger. As we record this episode in mid-2023, we'll also discuss what depositors and customers need to know to protect themselves in these uncertain times.

🔥 This episode talks about: 

☑️  ​What are the current challenges in the US banking sector?

☑️  The difference between how banks store money vs. insurance companies.

☑️  Advantages of life insurance companies over banks in terms of safety. 

☑️  What do mutually owned life insurance companies do with your money? 

☑️  Mutually owned life insurances vs stock-owned insurance companies

☑️  Potential negative impacts of the banking industry and what can happen to the depositors.  

☑️  What is the FDIC and how does it affect the banking industry?

☑️  Other than banks, where else can you save money? 

☑️  Borrowing from your life insurance policy vs getting a loan from a bank. 

☑️  Which is better? Life insurance policy loan or a home equity loan in terms of interest rates and control? 

☑️  What is the difference between simple and compound interest? 

To connect with Mark Willis, please visit:

👉Website:➡️https://lakegrowth.com/

👉Linkedin: ➡️https://www.linkedin.com/in/marklakegrowth

👉Facebook: ➡️https://www.facebook.com/lakegrowth

👉Twitter: ➡️https://twitter.com/LakeGrowth

👉Instagram: ➡️https://www.instagram.com/notyouraveragefinancia/

👉YouTube:➡️https://www.youtube.com/channel/UCw-DvhKT2EaPFdncLy39LIQ

👉Not Your Average Financial Podcast: ➡️https://nyafinancialpodcast.com/

👉Book: 📚 Amazon: Mark Willis Book

👉To learn more about what we do and how we can help you grow more wealth, please visit ➡️ https://finassetprotection.com

👉You can also schedule a free call with us: ➡️ https://calendly.com/financialservicesins

📢💡 📚 Free "Thinking Like a Bank" ebook. Learn to think like a bank by downloading a free copy here: ➡️ https://thinkinglikeabank.com

🚧 👉 **Not intended to be financial advice. Please consult a professional who knows your specific situation.

Brandon Hall is a certified public accountant, national speaker, and is the founder and managing partner of Hall CPA PLLC. Brandon works with real estate investors, syndicates and private equity funds to optimize tax positions and streamline accounting and business functions. He believes that real estate investing is critical to building sustainable and generational wealth.

Brandon worked at PricewaterhouseCoopers and Ernst & Young prior to launching his own CPA firm. Through the knowledge gained through working with real estate investors, Brandon has built a real estate portfolio of 25 units consisting of multi-family, single-family, and short-term rentals.

🔥 This episode talks about:

☑️ Brandon's prior corporate experience and his real estate background before he started his own accounting and tax service firm.

☑️ The types of accounting services offered by Hall CPA PLLC

☑️ How remote staffing and outsourcing has helped Brandon and his team 

☑️ How to effectively manage an offshore team?

☑️ The difference between tax preparation and tax planning 

☑️ The importance of having basic tax knowledge for business owners

☑️ What are passive losses? Passive gains? 

☑️ How to deduct passive losses against non-passive income (i.e. portfolio income, active income)? 

☑️ Qualifying as Real Estate Professional Status (REPS) and deducting passive losses against non-passive income 

☑️ What does material participation mean? 

☑️ What counts as material participation in real estate? 

☑️ How to use Short Term Rental losses to offset non-passive income? 

☑️ What is value-based pricing and fixed pricing in accounting firms?

To connect with Brandon Hall and learn more about tax planning, please visit:  

👉Company Website:➡️https://www.therealestatecpa.com/

👉Linkedin: ➡️ https://www.linkedin.com/in/brandonhallcpa/

👉Facebook:➡️https://www.facebook.com/realestatecpa/

👉Podcast:➡️ Tax Smart Real Estate Investors Podcast

👉To learn more about what we do and how we can help you grow more wealth, please visit ➡️ https://finassetprotection.com

👉You can also schedule a free call with us: ➡️https://calendly.com/financialservicesins

📢💡 📚 Free "Thinking Like a Bank" ebook. Learn to think like a bank by downloading a free copy here: ➡️ https://thinkinglikeabank.com

🚧 👉 **Not intended to be financial advice. Please consult a professional who knows your specific situation.

​Steve Hoffman is the CEO of Founders Space, one of the world’s leading startup accelerators. He’s also a venture investor, serial entrepreneur, and author of several award-winning books: These include, Make Elephants Fly”, “Surviving a Startup”  and "The Five Forces”.

Founders Space is a global innovation hub for entrepreneurs, corporations, and investors, with over 50 partners in 22 countries. Forbes and Entrepreneur Magazines ranked Founders Space as the #1 incubator for overseas startups

🔥 This episode talks about:

☑️ What is a venture investor?

☑️ What is a startup?

☑️ What do investors look for in startups?

☑️ The blue ocean strategy versus the red ocean strategy 

☑️ What is a two-sided market and why does it matter?

☑️ What’s the difference between accelerators, incubators, and startup studios? The typical equity share percentage for each type. 

☑️ Some important factors to consider in searching for the right startup accelerator​.​

☑️ Steve’s books he has authored and what to learn from them. 

☑️ How AI will impact the future of work and life​?​

To connect with Steve Hoffman and learn more about startups and venture capital, please visit: 

👉Company Website:➡️https://www.foundersspace.com

👉Linkedin: ➡️ https://www.linkedin.com/in/foundersspace/

👉Instagram:➡️https://www.instagram.com/foundersspace/

👉Podcast:➡️ Founders Space Podcast

👉To learn more about what we do and how we can help you grow more wealth, please visit ➡️ https://finassetprotection.com

👉You can also schedule a free call with us: ➡️https://calendly.com/financialservicesins

📢💡 📚 Free "Thinking Like a Bank" ebook. Learn to think like a bank by downloading a free copy here: ➡️ https://thinkinglikeabank.com

🚧 👉 **Not intended to be financial advice. Please consult a professional who knows your specific situation.