Jayson Lowe
Appearances
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
When you implement the infinite banking concept and you do it the way that my late mentor intended and you make it ridiculously simple and you don't sensationalize it, you become all four characters in the financial play. You're the depositor. You pay premium. You're the borrower. You're the one accessing policy loans. You're the banker because you control the repayment schedule.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
And we've been continually replenishing our family's money pool But here's the thing that people need to understand. You used the example earlier about a car. Such a great example. You can either pay cash for it, lease it, finance it, or steal it. Most people don't do that. Probably not going to steal it. Or auction it.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
But when you pay cash, lease or finance, every single one of those methods is a permanent transfer of money away from you. Just think about it. Every payment you make is someone else's passive income. That's right. So if you can redirect where that financial money, where that energy is flowing to inside of an entity that you own and you control.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
If you can do that with property, if you can do it with vehicles, if you can do it with what we do, like my premiums are 1.56 million a year. We have 77 policies in our family banking system. Wow. We practice this process as a family. Think about this.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
When you were growing up, stop me when I'm wrong, did you ever hear your parents or somebody close to your family say, Justin, someday you're going to wake up and you're going to move out and you're going to start your own family. You're going to have your own bills. You're going to have your own financial obligations. You'll truly understand what financial responsibility is.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
We've all heard that growing up. The wealthy don't speak that way. The wealthy circle the wagons around the family. I want the mortgages, the loans, the business investments, the real estate investments, the cars, the property, the appliances. I want all of that money for those things flowing back to the family banking system, not onto the books of someone else's bank.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
So the real estate investors tell us, we love the fact that you coach us on how to do that. If you went onto a job site and you're at one of your flip projects and you handed the best tool to get a job done to somebody who doesn't know how to use the tool, they're not only going to break the damn tool, they're not going to turn out any good work with the tool.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
So that's why you need a really good coach that can be your infinite banking guide. And that's what we are at Ascendant Financial. And we're the best at what we do, bar none. And I am bragging when I say that. I love it. Like we are the best at this, bar none.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
No.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Yeah, happy to do that. And thank you for bringing that up. That's something that we get asked around interest rates and growth. In the United States, the cash value of the policy is contractually guaranteed to match the death benefit by age 121 of the life insured. It's age 100 up in Canada. So every single day that you're aging, your cash value is rising.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
That's a great question. You know, we've been working with, uh, people across America, people across Canada since 2008. So we've been, you've been a real estate investor the past 18 years. Did I hear that right?
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Every premium that you pay, the death benefit permanently increases. The premiums can never go up, but the death benefit is ever increasing. Every dividend that gets declared, which once it's declared once a year is contractually guaranteed to be paid. It can't be repossessed. It can't lose value. That permanently increases the death benefit of the policy.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
So Justin, if you never borrowed against the ever increasing cash value of your policy, It is going to continue growing uninterrupted. Correct. When you borrow against your ever-increasing cash value, it is going to continue growing uninterrupted. It is not the policy loan that is affecting the growth of the cash value. It's you aging daily. That's the difference. Got it.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
And when we hear people use language like... I've got my money, $1 doing the job of two, or this is the secret that the wealthy don't want you to know. And, um, but you know, forgive my language, but that's all just a bunch of bullshit. Okay. You're paying premium into an insurance contract and you become a co-owner of a life insurance company that's never failed to produce a divisible profit.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
And you're dealing with people who cared enough to ensure their own lives. That's the pool of owners that you're dealing with. What a great people, group of people to be in business with. Yeah. And when you borrow capital in the form of a policy loan, the cash value of the policy continues rising uninterrupted as I've mentioned. When you repay that policy loan with interest, that extra interest
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Is a direct contributor to the net earnings of the insurance company that you co-own. So Justin, if you and I owned a Publix grocery store together, would we ever buy our food from Walmart? Never. Because we want our grocery store to be profitable. Right. We want our grocery store to have more money to go buy more groceries. That's right. To more captive customers, right?
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
So when people are introduced to the infinite banking concept in a way that It sensationalizes it. Like you can get rich buying cars. You can get rich buying real estate. You can get rich just being your own bank. That's nonsense. That's sensationalizing the message. It's ridiculously simple. Somebody has to perform the banking function in your life. There are no exceptions to that, period.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
And your money's got to reside somewhere. The person that should be controlling that function of banking in your life should be you. And it's very simple to do. And you should have a good coach that can help guide you so that when you have a system of policies in place.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
You're not creating a scenario where you're not only not turning out any good work with the tool, but you may end up inadvertently breaking the damn tool. And so you've got to have a good coach and a guide to help you along.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
There are two forks in the road. So the first fork in the road is go directly to ascendantfinancial.com. That's our website. It's a treasure trove of great resources. But if your listeners, as I mentioned here before we got on, if they text the word bank, so if they text the word bank to 813-793-7921, that's 813-793-7921. We will courier directly to them at no cost.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Can I get $5? Okay, there you go. You just got it. But through the infinite banking concept, that's what we've been specializing in all this time. And real estate investors love it because they get to control how they borrow capital, how they invest it. They get to repay loans on their terms, not someone else's. They get their money working for them instead of the banks.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
No, hey, you got to pay the shipping or any of that stuff. We'll courier to them what we call a banker's vault. And it's a box of resources, including this number one bestselling book. It's a 92-page read, including... One of our bestselling quarterly books titled Don't Spread the Wealth.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Access to our private Facebook community, access to all of our resources, pre-recorded webinars, live events, our wealth accelerator package, all of that on the house at no charge. Have you ever heard someone give you the advice to give away your best stuff for free? Absolutely. We live and breathe that. We walk that walk.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
And so that is just our token of gratitude to your listeners for investing a little bit of their time and making the right decision to text the word bank to that number.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Yeah, yeah. No, please trick away. Ask me anything.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
But you're in a position of total control as it relates to the repayment schedule of your loans. The only reason why that is true is is because the insurance company itself guarantees the collateral for the loan. And when you borrow the capital, you're not triggering any reporting to Equifax or TransUnion. It's a private loan between you and the life insurance company that you co-own.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
You have all the gold, you make all the rules. And real estate investors tell me that gives them a lot of breathing room when they have projects that run over budget, that run over schedule, that would otherwise create some very tense scenarios where they either have to repay a hard money lender and they're on the hook for that.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
or they've got to repay someone else's bank and their project hasn't been flipped yet. It's not done. It's not generating positive cashflow. The life insurance company doesn't have a lien on the real estate. They place a lien on the death benefit for the loan balance. And so that puts the real estate investor in a position of total and absolute control.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
What a peaceful, stress-free way of life it is when you get the banks out of your life. I mean, it's, I'm looking forward to that.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Plus accrued interest. Yeah. And you know, what's interesting is that. People, again, I can only speak to because we interact, as you can imagine, with thousands of people every year. And we hear some common things from people who have been introduced to the concept out there in the marketplace. And they're leaning toward an either or scenario.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
The banks and the government are the last two entities that real estate investors want their money working for.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Like, should I invest in real estate or should I put money into dividend paying life insurance contracts? Right. This is not an either or discussion. Regardless of what you're choosing to buy, like you mentioned, you can do this with anything that you would otherwise pay cash, lease or finance. The money's got to come from somewhere. supply source.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
And if you're borrowing capital from someone else's bank, you wouldn't do that without every intention of repaying it. So this is about the infinite banking concept being a lifestyle, not a financial plan. And when you borrow capital from the life insurance company, You shouldn't be borrowing it to begin with unless you have a plan to repay it.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Being in control of a repayment schedule can be a downside too from a human condition standpoint. No doubt. And so that's why, again, I can't emphasize enough, just make sure that you're working with a guide, somebody who can sit down with you and say, Justin, let me give you a sample size of 100 reviews from existing clients sharing their experience with me
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
that should give you a pretty good indicator of my proficiency. And then I've got a demonstrated track record of being a good coach. And at Ascendant, we've got thousands. Just hang out with Uncle Google for a little while and check out all the experiences that people are sharing.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Real simple. So as a coach, we're responsible to you, not for you. And we do quarterly group coaching sessions with clients who can parachute into those sessions. They're networking with like-minded individuals who are practicing this process. They're learning a variety of different methods of how to integrate that into their business, their family.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
So it's a very, very strong community of people who implement this and practice this in their daily lives. We do annual family banking events that we invite our clients to. These are incredible events. Clients are bringing their spouses, their kids, their key people in their companies. We do breakout sessions. We coach them by actually coaching them and we show them the way.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
And then it's up to them to do the work and to do the work for their family, their business, for whatever it is that they're implementing the infinite banking concept to achieve. But we make it remarkably clear. The two most important words in the title of this book are right here. Your own. Your own. Becoming your own banker. We don't want people to develop a dependence on us.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
We want people to develop independence so they don't have to rely upon a conventional bank for anything other than the convenience of debit. What a stress-free way of life that is.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Yeah, text the word bank to 813-793-7921. That's 813-793-7921.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
And we amplify that intentionally. So within our client community, we have a program that we've named Lend to Profit. Lend the number to profit. There's typically two parties to the transaction.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Um, and within the community, our clients can engage with one another and say, Hey, we've got a high caliber opportunity. Do we want to joint venture on it? Do we want to pool capital together? And what, again, what a great group of people to be aligned with in that type of transaction, because you know, for certain they're life insured. Yeah.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
And so you've got some indemnification there, God forbid, if the unthinkable happened. And you know that you can close on a transaction quickly because when you contact the life insurance company to get access to capital, they're asking you two questions. Do you want us to electronically deposit the money into your account or mail you a check?
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
There's no income verification, credit check, personal guarantees, letters of credit, any of that additional underwriting that's typically involved with borrowing capital, even from a hard money lender. This is ready access capital on demand on your terms. And so I love that you touched on that because our lend to profit program is nothing short of awesome.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Well, I would say first and foremost, banks are not your friend. I mean, let's, let's be honest. Uh, they're, they're just not. And they create money where no money existed before. That would be like me pouring you a glass of whiskey, drinking it myself and charging you for it. It doesn't make great analogy. It doesn't make any sense.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
How does it go? The world is a stage and most people are actors there on something to that effect, something I've, I've heard stage and everyone in it are actors there on. Yeah. And the way that my late mentor, God rest his soul. I, I miss him. Uh, I think about him every single day. I was just blessed beyond the definition of good fortune, uh, to have spent such quality time with him.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
And he would often use an analogy that was so ridiculously simple. He said, you know, if we were to examine 99% of the American population and we were to take a look at What percentage of that population understand, A, that there are characters in a financial play, or B, that there's even a financial play going on? You've got the depositor, the borrower, the banker, and the bank owner.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Ridiculously simple. You earn money, regardless of the source, W-2, interest income, rental income, dividend income. That money flows onto the books of someone else's bank. You're the depositor. You're the borrower. You're always working with borrowed money, even when you pay cash for things. You withdraw money from your savings account, you pay cash.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
You're permanently giving up the opportunity to earn interest on that money, not only for the rest of your life, but for every generation that comes after you. You're the borrower. When you need access to money to finance something, you've got to do that on someone else's terms, not yours. The banker decides who gets access to capital.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
The bank owner is the character in the play that makes most of the money, understandably so.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
That's money on demand on your terms. You're the banker. You're the bank owner because when the insurance company produces a divisible surplus called positive net income, that divisible surplus must be distributed to the owners of the company. And in this case, we're dealing with a mutual life insurance company. There are no stockholders to participate in that.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
And, but the fundamental truth is, is that your money must reside somewhere. And through the infinite banking concept, there's no better place to have it reside than in the form of dividend paying life insurance contracts, where you essentially become the banker as it relates to your needs. You get ready access money on demand.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
The real estate investors, Justin, that I work with, they owe a lot of money. And so whether they're flipping or whether they're buying multifamily, they're in a long-term buy and hold scenario, they owe a lot of money. And when a ready access opportunity of a high caliber shows up, The real estate investor either has to joint venture to raise capital to take advantage of it. That takes time.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
But if you can pounce on high caliber opportunities when they track you down, then that creates a significant advantage for you in building your wealth. And you don't have to have money flow through the banking system, which is exactly what's been creating the financial mess lately. That we find ourselves in, just look no further than the central banking system. It's a horrible mess. Yeah.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
And the people that I talk to, they say, you know, I feel like there's something fundamentally wrong out there financially. Sure. I just can't quite put my finger on it. Sure.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Well, the better play is to pay premium into high cash value dividend paying life insurance contracts. You become a co-owner of the life insurance company the moment that you initiate a contract. You've got a guaranteed death benefit, which matters.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
We've had to deliver a disproportionate number of death benefit claims to families, and we've never had a grieving family say that they had hoped the check was for less or that it was taxable. And you get contractually guaranteed daily buildup of cash value that you can borrow against without interrupting any of its ongoing compounding on demand on your terms.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
So if you know that there's a place that your money can reside, where you can contribute almost unlimited sums, you pay no tax on the daily buildup, zero tax. You get ready access capital on demand on your terms. You pay no tax on the death benefit proceeds. You've got no government hovering over that asset with a giant knife and fork waiting to consume it.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
How much of your capital do you not want residing there?
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
So when you become all four characters in the financial play, what a peaceful, stress-free way of life it is financially. Yeah. And it's not Nelson. He never said, hey, I want you to be the bank. He didn't want anybody to become a bank in the conventional sense of the word. He wants you to control the banking function as it relates to your needs because someone must do that.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
A thousand percent. If you and I got together with another real estate investor and we were presented with the very same high caliber opportunity. And that outside real estate investor had to borrow capital from the books of someone else's bank to participate in that opportunity. A, that's great. They got to achieve the objective. They got to participate in the opportunity.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Whereas you and I, we request a policy loan from the life insurance company to participate in the very same investment opportunity. You and I are going to come out ahead all day, every day. The other real estate investor can't compete. Because the other real estate investor has no ongoing compounding of capital.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
My cash value and your cash value continues rising daily while the real estate investment is appreciating in value. And we used the life insurance company's money to capitalize it. And when you contrast that with any other way of financing a project...
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
any real estate investor that we work with would never say to you, gosh, you know, I wish it would have taken longer for me to get access to capital for that opportunity. And man, I just don't feel like I'm taxed enough. And gosh, I wish it was just even more stressful to... I mean, the other part is tax-free, right?
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Well, and I would ask you, and you can attest to this. We didn't discuss this before the show, but I'll just ask you, we'll just jam on this for a second. Yeah. So just name one institution that uses compound interest.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Life insurance companies. Okay. That's the certainly one institution. Um, any other that you can think of? Banks. Banks. That's the most frequent response that we get. Banks don't use compound interest. They either charge it or they pay it. So they're the only way for your money to compound is for it to sit still.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
And so the banks want your capital and they want it for a long time because they get to obviously. They flip it. They, they, they, thank you. You took the word right out of my mouth, which aligns perfectly with the show. That's right. Banks, banks are in the flipping business, but they're not dealing with tenants at three o'clock in the morning with a busted water here. That's right.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
They're flipping capital. We're doing the same thing. And if I just bring it right down to the you and me level. Fundamental truth, our money must reside somewhere. Can you and I agree on that? Of course, yeah. And so what better place to have it reside than within the attributes of what we're describing?
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
And when you pay that premium into that policy and it produces cash value and you can borrow against it on demand... Does that take away any of your options as a real estate investor?
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Okay.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
Can I share an example with you that tends to really resonate? Yeah, of course. So when I first began my journey with the infinite banking concept, so this was back in July of 2008, you could still get 40 year amortizations on mortgages. I was an active real estate investor in both the United States and Canada. And up in Canada, you could get a 40-year amortization schedule on a mortgage.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
So we bought a residence. The mortgage was about $426,000. And we thought, wow, this is terrific. Interest rates were below 3%. 40-year amortization schedule. We're standing on top of the world. That was in April of that year. I got introduced to this concept in July of that year. We got rid of the conventional bank seven years later. So 33 years ahead of schedule.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
And we did it in a ridiculously simple way. We paid premium into high cash value, dividend paying life insurance policies on my wife and I, and then our four kids. We borrowed against that ever increasing accumulation, which can't go backward, by the way. So you have several policies. There hasn't been a single day where your cash value has gone backward.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
We borrow against that accumulation without interrupting its daily growth. We pay off the conventional bank, but we now have a policy loan balance, but we don't have any debt owed in the form of a mortgage.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
How are you doing, Justin? It's great to be with you.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
So the payment that we would have otherwise been contractually bound to continue sending to someone else's bank, I say that again, someone else's bank for the remaining 33 years of that 40-year amortization schedule, We're changing the process of who's getting the payments and who's getting the money. The first person I called was this gentleman here, my late mentor, the late R. Nelson Nash.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
He wrote the bestselling book titled Becoming Your Own Banker. This book is self-published. It sold more than 575,000 copies for a reason. Wow.
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
process works so he developed it pioneered it engineered the process he was the first person i called and given that he lived and worked in birmingham he had this uh you know southern drawl and i called him i said no i said nelson you're not going to believe it i got rid of the conventional bank 33 years ahead of schedule and he said take a seat boy and i sat down and he said uh
The Science of Flipping
How to Stop Relying on Banks, Cut Taxes, and Control Your Wealth Like the Rich | Jayson Lowe
you wanna be an honest banker, don't you? I said, yes, sir, I do. He said, well, I need you to finish the original loan schedule. And I said, what do you mean? He said, you've gotta change the process of who's getting the remaining 33 years of payments. Otherwise your expenses are gonna rise to find that new surplus cashflow, aren't they? I said, yeah. And he said, well, get to work.