Straight Up Chicago Investor Episode 205: Be Your Own Bank And Grow your Investment Portfolio with Nick Chaplain
Nick Chaplain joins us to explain how real estate investors can leverage life insurance policies to "Be Your Own Bank". He jumps right into leveraging policies and building cash value as collateral for other investment opportunities. Nick explains how the wealthy take advantage of these strategies and their significant tax benefits. Mark also chimes in on how he has utilized this to help pay for his children's college! Tune in if you're interested in learning more about nuanced strategies to grow your net worth!
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Connect with Mark and Tom: StraightUpChicagoInvestor.com
Email the Show: StraightUpChicagoInvestor@gmail.com
Guest: Nick Chaplain, Boston Cash Flow Financial
Link: The Power of Zero (Book Recommendation)
Link: Confessions of a CPA (Book Recommendation)
Link: The Snowball (Book Recommendation)
Link: Ash Wasilidas (Network Referral)
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Guest Questions
04:00 Housing Provider Tip: Listen to the first 50 SUCI episodes!
05:30 Intro to our guest, Nick Chaplain!
08:06 The "Be Your Own Bank" Strategy!
09:27 Nick explains "compounding money"!
21:55 Different Types of Life Insurance Policies.
28:00 Mark shares his scenario of leveraging his Life Insurance Policy!
39:05 Strategies to Pay for the Annual Premium!
43:57 What is Nick's competitive advantage?
45:40 One piece of advice for new investors.
46:30 What do you do for fun?
46:55 Good book, podcast, or self development activity that you would recommend?
47:54 Local Network Recommendation?
48:08 How can the listeners learn more about you and provide value to you?
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Production House: Flint Stone Media
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