Sources and Resources
Optimized savings
Sources
Use the ‘Optimized Savings’ form to determine your maximum savings. Also your monthly cash flow.
Resources
SaveMillionaire
Debt elimination
Sources
Complete the ‘Debt Elimination’ form. Send it to find out quckly the debt can be eliminated.
Resources
SaveMillionaire
Family Bank
Sources
Book: The Wealthy Code
Author: George Antone
More info:
The best bank in the world is the ‘Family Bank’.
With it, recapture upwards of 25% of your lifetime income you give to creditors.
Lower risks by loaning to a family member versus an entity you don’t know as well.
Right now you probably give money to a bank, which returns little or no interest in return. They hit multiple charges when you don’t conform. Credit card rates are high.
Almost any banking you do now can be done with a family Bank. Every time you borrow money from the account, charge interest. Example: borrow $100, put back $110.
Purpose:
– use the family bank instead of a credit card.
– Use it for anything that has to be financed. It can grow to the point of financing a car or home.
Basic rules, that you can adapt:
– each member deposits money monthly. The amount each member determines.
– any withdrawals are charged interests ( I recommend 10%. See the example above.) Don’t exceed the usery rates for the state you live in.
– agree on the terms and what can be purchased with the loans.
– put it in writing.
– use it like a bank and lend it for investments like P2P, cryptocurrencies, etc
Resources
Talk with us and let us help you set up plan.
Infinite Banking
Sources
SaveMillionaire Insurance advisor.
More info:
Creating your own banking system through dividend paying life insurance. It becomes the resource for savings and personal loans.
How it works: Place the same amount of dollars you would normally put into a house, car, credit cards, etc. in to a dividend pay life insurance policy. In about four years you will have enough loanable cash value to fund your lifestyle. Imagine, taxfree living with no bank or finance company interest charges.
Possible Income: This is a cash value life policy which continues to grow. From 6-figures and beyond.
Cons: At least four years of premium payments to develop enough cash flow to loan yourself.
Resources
See our advisors list to help you.
Stock dividends
Sources
Book: Make Bank (when you think like one)
Author: Terence Michael
More info:
Invest in companies which offer dividends for added income.
Add monthly, quarterly or annual cash flow by owning stocks that offer dividends. There tax advantages if held long enough.
Resources
Seek income producing stocks like: Cocoa cola, Walgreens, ExxonMobile, etc.
Sell a product (FBA, Shopify)
Sources
Book: Passive Income Strategies: 11 Simple and Proven Ideas
Author: Brian Freedom
More info:
Start a passive income business.
Resources
Starting, owning and selling business has been one of the best and quickest ways to achieve wealth. Use up-sells to increase business cashflow.
Affiliate Marketing
Lead generation
Sources
Book: Passive Income Strategies: 11 Simple and Proven Ideas
Author: Brian Freedom
Earn commissions by selling other company products.
Resources
Affiliate Marketing offers the opportunity to go from employee to entreprenuer. Earn commissions by selling other people products. Commissions can range from 5% to 75%.
Amzaon, Shopify.
E-business (Content Marketing, Influencer, etc.)
Sources
Book: Passive Income Strategies: 11 Simple and Proven Ideas
Author: Brian Freedom
More info:
Starting or having a business has always been one if not the fastest ways to wealth.
Have the talent? Earn income in one of these businesses.
Resources
1. Find a niche.
2. Choose your social media.
3. Develop you content strategy.
4. Build and maintain a website.
5. Be consistent.
6. Have an opinion.
7. Engage with your audience.
8. Grow you network.
Sell Ebooks
Sources
Book: Passive Income Strategies: 11 Simple and Proven Ideas
Author: Brian Freedom
More info:
Have a story to tell? Tell your story and sell it as a Ebook.
Ebooks can cover journals, calendars, cookbooks and fiction/ nonfiction stories. A $5 book with monthly sales can bring signicant monthly income.
Resources
Create and sell on Amazon.
Airbnb/ rentals
Sources
Book: Passive Income Strategies: 11 Simple and Proven Ideas
Author: Brian Freedom
Resources
Rent a room in your house. Rent through Airbnb and then re-rent for cashflow.
This is actually one of the most lucrative investment strategies today. All you need to do is find the top Airbnb locations, check them, and get rental fees from them.
Bridge loans/ mortgage shares
Sources
Book: Make Bank (when you think like one)
Author: Terence Michael
Own real estate with mortgage shares.
Resources
Groundfloor.com ($25)
Peerstreet.com ($1,000)(Accredited Investor)
FundThatFlip ($5k)(Accredited Investor)
(12mos max.)(10-14% return).
Owning and purchasing real estate is one of the most lucrative investments one can make. 80% of all millionaires have a stakes in real estate. Here is an easy way to invest without worrying about the plumbing. Bridge loans. People and businesses go through transitions. Fix up a kitchen or bathroom. Transition from an existing home to a new one. People need a way to bridge the financial gaps to finance the new. Bridge loans accomplish this.
Own a share of real estate . This can be a mortgage on commercial or personal property. This can be had for as little as $25. Offering rates of 5 1/2% and upwards of 26%, makes it a much better rate than banks and less volatile than the stock market.
Delaware Trust
Sources
Book: Make Bank (when you think like one)
Author: Terence Michael
Become a fractional owner in commercial real estate.
Resources
Alleviate taxes on the sale of income property. Placing the sales dollars in to the trust reduces tax and continues to bring income.
Buy flips
Sources
Book: 10 Other Real Estate Investments You Could Do
Author: Michael Lantrip
Purchase it, repair it and sell it.
Resources
Work with a Real Estate Broker.
Flipping is the practice of buying real estate, rehabilitating it, and then selling it for profit. Be careful. If you do enough of these, you might be considered a “Dealer” and therefore subject to ordinary income tax law.
Hard money lending (buy R.E. @ discount)
Sources
Book: 10 Other Real Estate Investments You Could Do
Author: Michael Lantrip
Partner in real estate purchases using levearge and lower your risk.
Resources
This is the traditional way of owning real estate. Whether it is for a personal or investment property, the purchase and risk can be lowered by partnering on the deal. Typically at a choesn point in the future, the partnership is dissolved and the equity disbersed.
Multifamily
Sources
Book: Make Bank (when you think like one)
Author: Terence Michael
Earn with multifamily real estate.
Resources
Go to CrowdStreet
and
RealtyMogul
Make money with multi-family syndicates. This is not the traditional purchase of a 2 or three family home. Own income-producing real estate with all the benefits.
As a share, equity owner, you collect your passive, monthly checks. And when the property sells, 3, 5 or 7 years later, potentially substantial.
This sector is inherently risky. As a general rule, find deal which average 20% per year during the hold period. This allows you to double your money every 5 years.ng 20% a year over the hold period.
Three important factors:
• Internal Rate of Return (IRR)
• Equity Multiple
• Cash-on-Cash.
Section 121 Investing
Sources
Book: 10 Other Real Estate Investments You Could Do
Author: Michael Lantrip
Earn money on intervals from your own personal property.
Resources
Buy a personal property and live there for 2 years. Then rent it for 3 years and sell it.Collect taxfree capital gains. Start the process again.
Would you like to become a real estate mogul in ten years? Own multiple properties, worth millions of, with thousands of dollars in monthly cash flow? And bye the way, never buy a rental property.
Buy your personal residence. Live there for two years, then convert it into a rental for three years. Then sell it and pay zero taxes on the five years of capital gains that accrued while you owned it. And there is no requirement to reinvest the money. Your only cost will be the Depreciation Recapture for the three years that it was rental property, and you’re probably just giving back money you have already saved by claiming the Depreciation Allowance on your personal tax return. Or you can keep the property and add it to your real estate portfolio. All this is possible using the Internal Revenue Code: Section 121.
Remember, there are no taxes on your profits. To qualify for using Section 121, a taxpayer must own the property and live in the property for at least two years out of the five years prior to the sale. A single taxpayer can exclude $250,000 of Capital Gains from such a sale. Follow this formula of personal residence for two years and rental for three, and beginning in the fifth year, you will have three properties.
Possible Advantages: annul appreciation on all properties, monthly cash flow from each rental property, no taxes and never have to buy rental property.
