I attended a training session tonight about the IBC. Is anyone out there actually using it? I am looking for the pros/cons and hidden fees.

It sounds even between than a Roth SDIRA or Solo 401K

I know the success of this would depend on your investment strategy that you employ, but most LLs on this site tend to by Buy and Hold Investors.

Maybe you ought to read this (by an insurance agent)

llis.com/tools/download/52/Infinite-Banking-Concept.pdf

"It's a sales technique"

I heard a different version (Bank On Yourself) when I just started in RE and didn't have the extra $ to start that. They painted such a rosy picture, very slick sales pitch, I have to say.

I Googled it a little bit and it appears to be a " High Cash Value " life insurance policy. From what I am understanding it builds cash value quicker then the traditional cv policy. Somehow, you can use it like a bank but I am thinking that you basically borrow your own money. This is an insurance policy so the insurance company is going to make money off of this.

I personally don't like insurance as it is generally a rip off. I have read and been told many times that a term life insurance policy is much better as far as life insurance is concerned. I would certainly read all of the fine print, as I am sure you have.

I read an example of a guy that used this and he said that he bought 2 rentals with it and then just paid himself interest as he would have paid to a bank. He didn't really say specifics about how it worked or how he did it but when I read that I couldn't help but think that that is no different then me using savings and buying my rental and not paying a bank interest but just paying myself back into a interest bearing savings account or some other way. The other savings for me though is that I am not paying an insurance company.

This example was on becomingyourownbank dot com.

I know that you are much wiser then myself but that was my take on it.

BGP how would I get a hold of you.

I can see where this could work if someone was carry a large debt load at high interest rates. Using a 5% loan to pay back a credit card make great sense, but the question would become how long does it take for the policy to self fund itself. I am sure they would advise me to buy more insurance and build up what you can barrow against since you would be getting the discounted rate and a dividend (assuming the insurance company didn't have to pay out too many death claims that year)

@Ray-N-Pa you can message me at goestayproperties at gmail dot com