Be fully aware that the cii will support the advisor in fraud just as #nikkiwest #nicolawest has been supported in fraud despite tye FCA (Financial Conduct Authority) alerting of the breaches by #aviva #StJamesPlace and Nicola West also supported by the Chartered Insurance Institute St. James's Place sells life insurance in 2010 but in 2021 breaches a death claim to agree to pay a widow and pays money into the wrong bank account and REFUSES to correct it...! Harming a widow her #autistic #disabled #nonverbal son and 4 year old twins see the FCA (Financial Conduct Authority) Annual meeting 2024 talking about Amy Lawson Gill and this breach in #ConsumerDuty by #stjamesplace kzbin.info/www/bejne/p2erkKGPlLuFjJIsi=j0MIfyfEyAbnMNMU

Depends on how quickly you can pay off your mortgage because of the amortization schedule and how the interest actually works. If you can pay it off really early, you can still invest what was going to principal and interest once the mortgage is paid off and still effectively get a decent return with the remaining years. But only worth doing of you can pay it off fairly quickly.

Dont you need 6 months of reserves for a multi family ?

All animals are emotional support. You have a right not to support that.

Holy smokes..everyone with a youtube channel is a saviour these days. We do whole life for high net worth clients and it makes perfect sense. You really want someone making $100k to take out another 100k from their corporation to invest? First you will be paying almost 50k in taxes alone on that 100k. Then you invest and may be in 10 years you will net it to 100k after taxes on those investments. Then you start growing the money. Now you have to do this every year. Like stop you people. There is a place and time for every product. Stop thinking everyone buys term insurance will automatically going to invest the money. Most people we deal with blow the difference.

What is the average income for your area

When you set your screening criteria, nothing irritates me more than when I hear landlords say you need to have “GOOD rental history”🤦🏻…. Before I get into my response, I want to let you understand where I’m coming from with this. I have decades of experience working at the large, statewide and national property management organizations. Here, we train our leasing agents the proper and right way to do things. Now, with that said, you want to stay away from evaluating a potential renter with subjective metrics. Your screening criteria (and evaluation process) needs to be 1) OBJECTIVE and 2) MEASURABLE. For example, your income criteria would never say “the applicant needs to make PLENTY OF MONEY, right? Here , you understand that this is neither objective nor is it measurable. The same goes for a “clean car”. If you don’t have the ability to precisely measure what a “clean car” actually is, my advice to the small landlords is ‘stay away from using this as one of your metrics’. That said, I understand where you’re coming from with this. However, it’s best to keep your evaluation process away from any ‘subjective’ metrics. That said… GOOD RENTAL HISTORY does not mean anything. You need to be (again) OBJECTIVE and MEASURABLE with these standards - no lease violations, no money owed to current or previous landlord, etc. when I hear things like this (good rental history, good credit rating, etc) this only indicates to me that this is coming from a small mom and pop landlord who does not have the training that we provide our staff at the large, national organizations….. I teach small landlords (via my website )on all sorts of topics that we train our leasing agents on. Many of these topics are things that never get taught to the small landlord/apartment investor, such as leasing safety protocol, helpful documentation practices, advertising dos and donts, application processing tips, creating proper screening criteria, etc.

Can spouses use this?

Financial Advisors don't recommend Cash Value life insurance, only Insurance Salesman do. What I mean by that is that most "advisors" that sell this crap aren't licensed to do investments for people outside of an insurance product. Therefore, they aren't financial advisors at all!

100% C

My aunt died and her roommate won't move out. I inherited the house but she had a reverse mortgage. Can I sue the tenant for expenses.

You need to add the phrase "Bad Whole Life Agent" into this presentation. I sell "Whole Life" I DO NOT DO WHAT YOU'RE SUGGESTING ALL WHOLE LIFE AGENTS DO.

So, you're assuming everyone who sells "this crap" (whole life) is doing what you claim they're doing?

You overpaid for your house that's why you're crying about the money that you could have invested when you paid off your mortgage now shut the hell up

Im not going to lie that there are felons you can get along with, but there are certain kind of felons that put the community in danger when they get placed with law-abiding citizens. It is the landlord's right to decide that they dont want to rent.

May God judge you like you have judge all your renties!

You didnt mention how during an economic collapse, most retirement funds tank but IUL has a minimum floor... Also cash value is a good feature that term does not have...

Are u a millionaire??

But then i cant hide 20% of my income from the IRS

Ok I'm sold

We buy term and invest the difference and when you get old you have no need for insurance because you are self-insured. Do not worry at the end of your life I will sell you a whole life policy for $40000. The truth is all insurance is term insurance. The difference is how you pay for it when you become more uninsurable.

I like to pay in advance just coz is easy to me manage the rest of my money.

How the hell do you loose money by paying your house off? That's idiotic a

Yes!

I think the Zillow tenant application form is great for prescreening people before showing them the property. But I would strongly suggest running your own check before signing with a Tenant

I agree. I find it very difficult to rent to self-employed because during some application reviews in the verifying process proved that the documents were doctored

So we ended up in a similar situation except it was to be a rental not a flip. It was restored beautifully and then not only did the tenant not take care of the pool and it ended up in worse condition than before restored but the same tenant also destroyed my home. Now we use a lot stricter criteria based off a lot of your recommendations. Thanks for this channel

I change it myself every 3 months using the higher end filters so that I can also do a "maintenance inspection" haha.

I won't contest that a low credit score could be an indicator of poor debt management. However, it's pretty clear that the credit score system is designed to coax people into taking on debt. It rewards having debt and paying on it but penalizes paying debt off completely.

Good for you buddy talk to the mirror next time

Whole life is a “scam”, but Term Life that pays out less than 1% of the time is somehow less of a “scam”..?? This guy sounds majorly uneducated and ignorant about Life Insurance in general. I would advise anyone who wants to learn the truth about different Life Insurance to do more research than “avgjoeonmoney” 🙄

I can understand why he would say pay your mortgage off early though think about it. If you have a mortgage, then you don’t own the house the bank does. If it’s paid off now, it’s yours minus the property tax of course because if you don’t pay that the government can steal your house, but that’s another discussion for another day. I believe his advice to pay off your mortgage as soon as possible so it’s yours. It’s in your hands you own it.

Personally I think checking account statements is going a step too far, but I see where you're coming from. Just remember that you are morally obligated to guard all that private information with utmost jealousy.

To each their own. As a 51 yo with paid off mortgage, no debt, maxed 401k and IRA, investments and $100k cash in savings I can say that I was happy to pay off my $400k mortage in 7 years as it allowed for growth in other areas. It allowed freedom to take risks, especially professionally and financially. So yeah, I may have missed out on some returns but gained in many other ways.

Credit worthiness cares nothing about age, sex, race or religion. Just your likelihood you will repay 😮

What’s the minimum score you require? Someone can have a low score without missing a payment. I look at the the report over all to decide

It sucks that a landlord can use a credit score to decline a renter but not report the ontime payments. How much better would their score be if the 10 years of ontime payments showed up on their report?

Maybe people are more likely to default on their loans when they have a low credit score because they also get charged higher interest and therefore more money, when it’s clear they have less money than someone with a high credit score. Hm sounds like those things could be related. Credit score is a magic number that is basically only used in the US, a place with a criminally high rate of homelessness. Yeah seems to be working out great for us.

Landlords are just leeches on society like banks so it makes sense

You had me till you said "Limited cases". There is no reason PERIOD! that anyone should have cash value life insurance. Whole Life, Universal Life, Variable Life, Universal Variable Life, Index Universal Life. It is all crap. The longer the name the worse it is. I am a licensed financial advisor and licensed for life and investments. I teach buy term, biggest bang for your buck. The amount of years depends on your debt situation and the age of your kids. Take the difference you saved from cash value life and invest into high growth mutual funds for retirement. My mutual fund that I used for my Roth IRA in 2023 had a rate of return of 22.9%. I do have term life insurance on myself. Things to look for are does it pay out in one lump sum? A lot of term doesn't pay out in one lump sum. Normally the first $5k is paid immediately then in 20 year increments. How do you collect the money? Many companies have you bring the paperwork (death certificate and the life policy) to them. They could be in another state, or the love one who passed might not have told you about the life policy. They know when you die. The U.S. government has a master death file, every person that is legally dead is in this file system and they have access to it. They should be contacting you. Cash value is a plaque that should be wiped off the face of the earth and not all term is created equal. Stay informed, stay strapped, and stay safe. Semper Fi, Always.

The baby steps are good because they're simple for people to follow. This method outlined here may result in better overall results but is more complicated and stressful while doing it.

I am 100% sure though, even if you guys all disagree with Dave Ramsey…. He is still richer than all of us here in the comments 😂 Prove me wrong LOL

Find an attorney! Then what's is the point of the video!

It should be illegal for one to apply without making 3.5 times the rent amount in verifiable income.

does this work for apartment buildings ?

Sounds like a pos to me. "some abuse the system so lets punish everyone even those who are legit...."

Rich misses a bunch of stuff. For starters lets be honest--most young people never start a retirement savings plan by the age of 20, but even if they do, using his examples, you are looking at 70 by the time you max returns. As he stated a term policy will never pay--as a matter of fact less than 2% of term policies pay a death benefit. Thats a great thing because it means not many people are dying young. But what happens when your term policy runs out--say in your mid 50's and you still have a need for the insurance? You know what else starts to happen in your 50's--natural aging and a slight decline in health. Not to mention worse sicknesses or health issues that can make you uninsurable even for a new term policy. The person with a whole life policy is insured for life as long as premiums are made regardless of health. Whole life policies also can include riders like living benefits that can pay for things like the cost of assisted living while you are alive. I do agree that it's not your best investment option. I never recommend it as an investment tool. And that's the pitch here . Just like the investment advisor who gets paid---A COMMISSION- a salesman should only have their clients best interest in mind. Unfortunately, that's not always the case. Each person is different. Each need is different. Having a good mix in your product portfolio is always the best practice. Buy whole life because you want to make sure that there is tax free money for your family when you pass, no matter the age. Don't buy it to increase your investment portfolio.

Real estate investors/landlords don’t produce value, their service is just to leech value from other people who work real jobs, of whom have no choice but pay for their services lest they be homeless. They aren’t the ones who actually build the housing or do the maintenance, they pay others to do that. Their jobs are not difficult. They literally just collect money and use it to pay others to do the hard work, and oftentimes they are beneficiaries of inter-generational wealth. They take advantage of a finite resource that everyone requires in order to live by exploiting it as much as possible. The only alternative to not paying them is 1. Buy a house, this option is prohibitively expensive for most people due to absurd inflation, market manipulation by real estate investors and government. 2. Become homeless

I offer my tenants free yearly replacement HVAC filters. If they are not cooperative, I will increase the rent in the next renewal. I'll make sure the increase is too high they'll leave. LOL

Mortgage lenders also require a debt-to-income ratio to be approved. Good luck making that illegal. LOL.