You Have to Start Somewhere
When I first started my real estate investing career, I was a very small fish in a very big pond, when it came to financial real estate knowledge. Like many today, I was constantly struggling with finding good resources for hard money, private money & bank loans. Who could I trust? Who could I afford? How will I continue payments if the flip took twice as long as planned? There was no shortage to the list of questions and concerns in my head. I always struggled with the fact I was dishing out 2-4 points plus 10-12% interest on financed money, thinking all that money would be far better in my pocket than the lenders.
However, I had to start somewhere.
Don’t we all?
If someone had asked if they could show me how to start a financial system in my own life, that would eventually allow me to replace the need for outside lending - replace the bank - I would have been ecstatic!
If someone had asked me when I was starting out if I’d like to reroute some of my own money through a vehicle that would allow me to dictate my own loan terms for deals – there would have been a resounding ‘Yes!’
If someone had asked me when I was starting out if I wanted to put my money into a vehicle that would grow at a minimum set rate year over year, uninterrupted, even while I’m using that same money on deals, I would have jumped at the opportunity!
Someone eventually did explain it all to me, and it’s called the Infinite Banking Concept.
I had to start somewhere.
Don’t we all?
You can be your own bank. You can borrow from yourself, instead of the lender. You can have your money growing in two places at once. You can have immense flexibility in the money you borrow. You can even use that same money for retirement income. You can provide a legacy to the next generation. All of it is possible. None of it is outside of your reach.
“A little action often spurs a lot of momentum,” says N. Scalin. I have to agree. If I had started when I was first getting in to real estate investing, I would be sitting in a whole different playing field right now. However…
You have to start somewhere.
Article written by Jason K Powers.
Jason K Powers is an Authorized IBC Practitioner, Mutli-Business Owner & Real Estate Investor helping people change the way they think about their money, to create financial velocity that can last for generations. Connect with Jason K Powers at firstname.lastname@example.org, or Olivia McGraw at email@example.com.