Insider Secrets Podcast Season 2, Episode 12
Guest: Jim Oliver
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CreateTailwind was founded in 1988 by Jim Oliver in Denver, CO. Originally a full service financial planning firm, Jim and his team weathered two major corrections on Wall Street – and pivoted CreateTailwind’s focus to building wealth beyond Wall Street.
Teaching clients to create wealth without Wall Street brokers and financial planners took off – with inspiration from a groundbreaking book by R. Nelson Nash, How to Become Your Own Banker. To most people, becoming their own banker was something they couldn’t envision or even attempt because they hadn’t seen a viable vehicle like it before – no obvious or effective plan. Most people park their money in prison in qualified plans or with a “broker” and hope that the money grows.
At CreateTailwind, we remind our clients that “hope is not a strategy”. Becoming your own banker is an AND strategy – meaning we accumulate money in our money pool AND we deploy it to make even more money. This is the mind shift!
With this knowledge and advantage, CreateTailwind exploded to become a multi-location nationally recognized firm who have helped thousands of individuals and businesses around the United States. We communicate with our clients both in person and via real-time video conferencing. If you are ready to stop “following the followers” and pursue some real financial independence, we can show you how.
Engaging with individuals from booking agencies facilitates networking and relationship-building opportunities.
Create passive revenue by leveraging borrowed funds for real estate acquisitions.
Seize control of your financial needs through self-banking, bridging borrowing and saving.
Harness loans from insurance policies for enhanced financial flexibility and investment prospects.
Utilize insurance contracts to borrow against and invest in real estate, maximizing returns.
Realize tax benefits through cost segregation and depreciation strategies in real estate.
“I love giving back and showing them and helping change their lives, in the area of money and independence and freedom.” – Jim
“Infinite banking is taking over the banking function to solve one problem we all have… you either pay interest to somebody else, or you give up interest that money could have earned somewhere else.” – Jim
“Every day, somebody will say to me, Jim, what do I do with the money? And I’ll say, okay watch this podcast, watch this.” – Jim
“You’re leveraging, you’re buying real estate already. The only people that say that they don’t get this is they don’t know what to do with the money.” – Jim
“Our need for finance over our lifetime is much greater than our need for investing in Wall Street or 401k or something like that.” – Jim
[00:41] Intro to Podcast
[02:30] Intro to episode guest
[04:36] One word that describes Jim personally and professionally.
[09:11] Jim shares his history and how he got to what he is doing today.
[21:50] What is the difference between me putting money in this versus me putting money in my self-directed IRA that I can still go and put money in an asset?
[23:52] If I deposit $100,000 for a whole life policy and this program today, how soon can I access the funds?
[26:10] What is the cash drag the first year?
Kristen: [00:00:00] Welcome to this edition of Insider Secrets, the weekly podcast that turns real estate investing goals into reality. Each show we interview guests who are seasoned real estate professionals, actively closing and managing real estate deals. Mike is the founder of My Core Intentions and would like to help you make your real estate investing dreams a reality.
Mike coaches you to buy investment real estate, creating short term cash flow and long term wealth. Your host and real estate coach, Mike Morawski, has more than 30 years of real estate investing and property management experience. Here’s your host, Mike.
Mike Morawski: Hey, good morning, everybody. It’s Mike and welcome. Glad that you are here today. If you’re new to the show, thanks for showing up or thanks for stumbling across us. Glad that you’re here. Hopefully we’ll be able to deliver some information, some knowledge, some content to you that’s gonna help you grow your business.
Today we’re gonna talk [00:01:00] about creating generational wealth. And how do we help do that in your life? My guest today is going to bring some content to the platform that, I think will be eyeopening for you. Maybe something that you might not even have heard of or heard about before.
I know the first time I heard about what we’re going to talk about today. I was really enlightened and I thought, wow, what a great concept. So we’ll talk about that a little bit today. I always start talking about intentions. What are your intentions? So, what your intentions are for the weekend, maybe you’re still doing some work or getting some things done around the house or trying to spend some time with family, whatever that is, make sure that you’re focused on your intentions.
The only way we grow, the only way we progress our business is by being intentional about what we do. So whether it’s looking for deals, whether it’s raising capital, whether it’s managing a deal or stabilizing a deal, we have to [00:02:00] be intentional about those activities.
Follow us on social media. I’d love you to be intentional about that. If you are on Instagram or LinkedIn, like us, love us there. We’re always bringing good content out, helping you grow. If you’re on YouTube this morning, please smash the subscribe button because there’s always new information being put out there every day that’s going to help you grow your business.
So let me bring my guest in this morning. I’m joined by Jim Oliver from Southwest Florida. Jim’s company is Create Tailwind, I love that name. And we are gonna talk about infinite banking and creating generational wealth by way of doing that. Hey, Jim, how are you?
Jim Oliver: I’m good, Mike. How are you? Thank you for having me on.
Mike Morawski: Great. This is the first time we actually get to meet and I can already tell that we have a connection between us. So, who connected us, Margie or.
Jim Oliver: I think is it Marie or Christina.
Mike Morawski: [00:03:00] Yeah. Yeah. I always love being connected and having people on my show that come from these booking agencies because there’s always somebody new that you haven’t met before. It’s been a great way to meet people and build relationships. I’m glad that you’re here.
Jim Oliver: Thank you. Thanks for having me. I’m excited to get the talk to your audience today and get to talk to you.
Mike Morawski: So Southwest Florida, where’s that?
Jim Oliver: Yeah. So just a little North, I always say Naples cause I’m in actually technically in Estero, which is, as you go North from Naples, it goes Naples, Bonita Springs, Estero, Fort Myers. And, we’re Estero is this little village that’s only been around for like six years. But it’s growing like crazy.
Mike Morawski: Yeah, I think all of Southwest Florida is growing like crazy, really.
Jim Oliver: It is, and after the hurricane last September, Fort Myers Beach, all that area, our house, we were out of our house for seven months, getting it repaired, and Southwest [00:04:00] Florida is going to look a lot different in the next five years.
Mike Morawski: Yeah, I own some real estate up in Tampa, so we just missed that, right? So I’m very fortunate, very grateful, sorry for the losses other people had, like yourself. We had one tree fall and take a corner of a building off, and very grateful for that. So Jim, I always like to start my show, especially when I meet new people, with one question.
And I always say I’m going to write a book on this and kind of have started that process already. But in one word, what best describes you personally and professionally?
Jim Oliver: I would say giver.
Mike Morawski: Hmm. Giver.
Jim Oliver: And the reason I would say that, Mike, is as a kid, I was growing up, I grew up very poor. I grew up in Los Angeles. I saw this wealth around me. And I didn’t understand why and I studied it my whole life. I went down the wrong rabbit hole more than one time. I spent 15 [00:05:00] years as a full service financial planner fee based thinking that was the key to wealth. That was the key to money. And then I finally figured it out, at 38 and, 58 now. And, I spent the last 20 years giving someone or giving people that knowledge that I learned and I love serving other people and I love giving back and showing them and helping change their lives, in the area of money and independence and freedom.
Mike Morawski: I think that’s awesome. I think that’s really the way we should be in the world. And I think you and I come from a generation that we learned differently than some of the younger people learned today. And I think that philosophy of giving to others and helping others and supporting others, isn’t taught enough today.
So I appreciate you doing that. I’m going to ask an [00:06:00] offshoot question around that, though. Where, I don’t know why I’m even thinking of this, but where in your life did somebody give to you to make you realize that was a way that you should behave?
Jim Oliver: You know what’s funny is, Mike, I would say that I got lessons in my life that I didn’t really anticipate or appreciate at the time. And I’m not sure anybody gave me that. I think it was actually the fact that people didn’t give me that knowledge. I didn’t feel like they were sharing with me that information. And I felt like people did a lot of things like that and kept it. They wanted to compete with other people in their office as a financial planner.
And because I didn’t get that, I grew in confidence. I give all of my stuff away. I didn’t feel like I was competing with anybody. I was more collaborating with people, but I didn’t care [00:07:00] about the competition. And as I did that, I grew professionally. And I realized, you know what? I get if I came up with the greatest presentation of all time, I can give it to everybody else. They still can’t do it like me. They still can’t do it with the passion because the development of it came from the passion, the systems, everything else. So I think it came from actually the opposite of somebody giving to me. I think it came from someone not giving to me.
Mike Morawski: Yeah, that’s awesome. Zig Ziglar said years ago, and I don’t know if you’re a Zig fan, but he said that you can have everything in life that you want if you help enough other people get what they want.
Jim Oliver: Mike, I use all the time because I heard that 20 times before it sunk in. I’m a slow learner, man. I would say, yeah, yeah, yeah. I got it, I’d poo poo that. And the nuggets [00:08:00] that you learn from Zig or, Tony Robbins or Earl Nightingale. I just poo pooed those things in my twenties and I just was total focused on my assets under management and client acquisition, and I didn’t realize until my 30s, oh my gosh, I’ve been doing this wrong. I didn’t listen. I heard it, but I didn’t listen.
Mike Morawski: Yah. I sold residential real estate for a number of years before I went the apartment business. And when I first got into business, it was just a churn and burn business for me. I prospected every day and just blew through people.
And it took me like three years of that model before I got it. And really started to build into people then. And once I did that, my business changed like that. And I sold a lot of houses. But, I think you can’t have that churn and burn mentality.[00:09:00] Hey, so let’s do this. Let’s talk about your background a little bit. You said you grew up in L. A, you were a financial planner for a number of years. What’s your history and how’d you get to doing what you’re doing today?
Jim Oliver: Yeah, so what I did is, first of all, I grew up in foster homes cause seven and then I was adopted and I grew up. My dad drove a trash truck and my mom worked at a casket factory. And those are two important things because we grew up poor. And I wanted, and I was fascinated with money. I really was interested in money. So when I went through school, got out of school, and I went from LA to the Midwest. All right. And so it was like a total change in environment.
But I love the Midwest. I love the people in the Midwest. I loved how everybody was nice in the Midwest. Sorry, Californians, not to say that you’re not nice, but people in the Midwest are just generally everyone is nice and everybody wants to get to know you. But when I got out of school, I was running these gold gyms.
I know you can’t tell it now, but [00:10:00] back in the day in the eighties, I was running these golds gyms, things were going really well, but I wanted more. I wasn’t ever going to get wealthy, just running these gyms. And I had a total vision of getting wealthy. And so I went to Denver where, my soon to be wife was from and started my career, not knowing a soul.
And I did that for 15 years thinking that this is how you hope your clients become wealthy. And then one day, Mike, I’m analyzing, and this is before spreadsheets and, CRMs and everything else, I’m analyzing our average return for our clients. And it says it’s like 9. 38%. This is what all the platforms say. And I said, wait a minute. It doesn’t seem like these accounts are growing at 9. 38%. So I took out expenses, commissions, fees, everything, taxes. And it was around 4% they were [00:11:00] actually getting. Now that’s before I took out, I didn’t take out inflation, which means they were basically getting nothing.
No growth, right? And I went, wait a minute. That’s crazy. So then I said, okay, I’m going to analyze. I’ve got a lot of wealthy clients. How did they make their money? And I looked at it and it took me about a week of analyzing it. And I said, again, it’s before Excel. And I said, oh my gosh, these guys are all business owners or in the real estate business.
Which your business owner, if you’re a real estate investor. And I took out all the people that got lucky. If they were the janitor at Google, I got rid of that. And I went, Oh my gosh, I’ve been teaching people the wrong thing. This is not how to get wealthy. Is it making me wealthy?
It’s making Wall Street wealthy, the banks wealthy, the government wealthy, but not the client. And so I started, I met this gentleman at the time who was in [00:12:00] his seventies. And his name was Nelson Nash, and he’s kind of the godfather of infinite banking. And I said, I went to this 10 hour seminar. And again, like you said, Mike, we’re from the same generation. So what do we do? We go to seminars right back in the day. This is years ago.
Mike Morawski: Hey, I go to seminars today, Jim.
Jim Oliver: I do too. I do too. I love it. Because you know what? I learn something every time. But this seminar was 10 hours. And I thought this guy’s either crazy or he’s brilliant. And I’m like, shh, after 10 hours, I wasn’t sure. So I went up, I asked him a bunch of questions. He looked at me like I arrived on the short bus because all my questions I felt were dumb. And then he said, but I’m doing another one of these in three weeks. So I went back to Texas, three weeks later, did it again.
After that one, it hit me and I was like, this guy’s brilliant. Is we tell people to put our money in wall street and tie it up [00:13:00] for 20, 30, 40 years. While they’re paying the bank interest and they’re letting everybody else that’s not unconventional make tons of money in real estate and businesses.
And I’m going to stop that. I’m going to do this. I went to every client. I said, okay, we’re pivoting from this to this. And not very many people got that excited about it. Cause they wanted to be passive, right? They wanted somebody else to make money for them. And I was like, no, no, that doesn’t work. You can do that but do it in real estate, do it in businesses, hire somebody, a younger person to take over your business, whatever it is.
That’s how I got doing what I’m doing. And all of a sudden you wouldn’t believe it, Mike. And like some people in three or four years, they were financially independent when it was taking the average common strategy, 20, 30, 40 years to build up the sum of money that you live off of [00:14:00] and you hope you don’t run out of money.
Mike Morawski: So I’ve heard that statistic before. That wall street will tell you, Hey, you’re going to make 8%, 9% the average over 30 years. But when you start to back fees and costs out of it, you’re down to 4%. So it’s interesting that you said that today in that light. So explain in layman’s terms for people, what is infinite banking?
Jim Oliver: So what infinite banking is it’s a way to take over the banking function in your life to solve one problem we all have, is that we finance every single thing that you buy. You either pay somebody else interest or you give up interest that you could have earned somewhere else.
Mike Morawski: Okay. I’m gonna ask you to say that again, because I think that’s probably one of the clearest explanations I’ve ever heard.
Jim Oliver: So yeah, infinite banking is taking over the [00:15:00] banking function to solve one problem we all have, every human in the United States, is that you finance every single thing that you buy. You either pay interest to somebody else, or you give up interest that money could have earned if you put it somewhere else, i. e. in real estate or wherever.
Mike Morawski: So, I can take money and put it in a platform and borrow against that money and pay that money back to me and earn and pay myself interest too. So I can become the bank where I’m taking. I’m creating more money because of that model versus if I go to the bank and pay the interest out.
Jim Oliver: Absolutely. Our need for finance over our lifetime is much greater than our need for investing in Wall Street or 401k or something like that. And Mike, what [00:16:00] happens is you put this money in a very specially designed insurance contract because you have it in an insurance contract that’s been around by the way in England for 350 years. And been in the United States for over 200 years before federal income tax.
So there are tax advantages with certain insurance contracts that precede federal income tax. And you put the money in there, it grows tax free. You can use it tax free. And here’s how you use it. This is really important is because you have that money in that insurance contract, the insurance company has to give you their money.
Now, let me say that again. You have money sitting in this tax shelter, growing every day, guaranteed, tax free. The insurance company has to give you their money. As a loan, you’re borrowing their money, interest only, contractual.
Okay, so, [00:17:00] as a real estate investor, I know you’re gonna get this like that. It’s kind of like this. If I would let you borrow my $100 million today, and your only obligation was you got to pay me 5% interest or 4% interest, let’s just say 5, 5% interest one year from today, would you take the loan?
Mike Morawski: Absolutely.
Jim Oliver: Absolutely. When somebody says no, then I always worry about them, but I knew that there was no way that you weren’t going to say yes, because you know what to do with the money.
Mike Morawski: Well, that’s the question there. Is what would you do with $100, 000, 000?
Jim Oliver: So here’s what I would do, okay? I would take your 100, 000, 000 if you offered me that deal. I would go out and either from the seller or the bank, I would borrow another $400, 000, 000, 80% loan to value. I can get that on that kind of money when I’ve got that much cash. And I’m going to buy $500, 000, 000 of real estate.
Mike Morawski: Okay, so listen, [00:18:00] I want you to say that again because I want people to get that because you just talked about three different things, right? And people will miss this unless they get unless it’s explained right. So you’re taking this, you’re borrowing money from the insurance company against your platform, your platform stays intact, gaining interest. You take the borrowed money and you go and you are able to get more money with the borrowed money.
Jim Oliver: Yep.
Mike Morawski: And buy even more real estate.
Jim Oliver: Absolutely. Yes. And so then I’m going to take your money. And I’m going to go get money from the bank or the seller, either one. And when I invest in real estate, across the board, and I would share this with anybody, 25% cash on cash. I can do that all day long.
I don’t care if you’re watching and you think, Hey Jim, I get 20, not 25. It’s just a math thing. Okay. It’s not a big deal. Cause I’ll show you why. So one year from today, I take your money. I go get money from the bank [00:20:00] and I make 25 million bucks. I call you and say, Hey, Mike, I got your check for your interest.
I’d like to fly up, take you to dinner and give you your check. I hand you a check for 5 million bucks. And you say, Hey, Jim, do you want to pay any principal? And I say, Nope. See you next year. I make 20, you make five. Now, I’ll do that forever. So you’re leveraging, you’re buying real estate already.
The only people that say that they don’t get this is they don’t know what to do with the money. And that’s okay because other people do if you don’t. But think about this too, by year 10 of this, I put in a dollar I have a dollar fifty to go put in real estate. Mike, I win.
Now think about that. So now, I’m taking every dollar and the insurance company has to give me [00:21:00] 1. 50. Now, it’s not because that you’re getting a 50% rate of return on that deposit. Because the insurance contract though, is meant to be this long term thing that people, like the Northwestern Mutuals, the Mass Mutuals of the world, they want you to put that money in there, keep it there for 20, 30, 40 years.
Remember it kind of sounds like Wall Street. And I want you to touch it, but we’re going to touch it. We’re going to use it as collateral and get the loan from the insurance company to where now we’re going out and buying things, buying companies, buying real estate, and we don’t have any of our money in it.
Mike Morawski: Okay. So I need to ask a couple of just generic grind in questions.
Jim Oliver: Yeah.
Mike Morawski: The first one is. And I think I know the answer to this, but let’s bring it to the forefront for the listeners, is what is the difference between me putting money in this versus me putting money in my self directed IRA [00:22:00] that I can still go and put money in an asset?
Jim Oliver: So there’s a couple of differences. One difference is the funding limits. So in your self directed IRA, yeah, you might have where it’s a 401k, you’re going to convert it to an IRA, self directed IRA. But if you’re building that you really can’t put enough money in it to make it substantial.
We have people that are putting millions of dollars in these things because they have millions of dollars flowing in real estate. That’s one. The second thing is you can never put in a dollar and have a dollar fifty to use. And by the way, here’s the crazy thing is I said that’s year 10 just because it’s just a reference point.
But every year after that, Mike, it only gets better. Guaranteed. The cash, that’s why we use a whole life policy. It doesn’t have to be sexy. It has to be guaranteed and you can’t put in a dollar and have a dollar 50 to go use [00:23:00] in your self directed IRA. So those are two simple keys of the difference.
And here’s the other thing is. You go out and buy real estate. It cash flows. What do you do with the cash? Don’t put it in your local bank and let them go make money on it. You put it back in your insurance contract so that you can borrow more money from the insurance company to go put in real estate.
So you have this money pool that you can flow money through and if you sell something you can put a windfall in there. And we all as real estate investors always have windfalls sooner or later that we need a place to put the money until we use it again.
Mike Morawski: So let’s try and bring this into perspective for my average listener not a hundred million dollar list.
Jim Oliver: Yeah. It gets people’s attention, Mike.
Mike Morawski: Yeah. You got my attention to it. So let’s say, I have a hundred thousand dollars to go fund a whole life policy and do this program. [00:24:00] I make that deposit today. I opened that up today. How soon can I use my hundred thousand dollars?
Jim Oliver: Week or two. Once we can prove that it left your bank, it’s in the insurance company’s bank. You take a loan and look, we’re not tied to any one insurance company. We use a few of them up to a half a dozen, depending on if you have good health, bad health. But with some of them, you can have it wired. I’ve seen it the same day. But again, when you establish the policy, the first time you got to show that all the money has moved where it’s supposed to move. It can be the same. Let’s just say next day.
Mike Morawski: Can I use the whole hundred thousand right away?
Jim Oliver: The first year you cannot. Now that’s the key because if you could use, if there was no cash drag or anything. Then, I’d have a virtual line out my door, right? But in that first year, there’s a cash drag. The way we design the insurance policy after that, there really isn’t. [00:25:00] And at year four and beyond, it starts to leverage, meaning every dollar you put in, you have more than a dollar to use.
So you’re not going to start first, Mike, but you’re going to end first. But one thing I want to say on that really quick, because I want the younger people in the audience to think about this. And you alluded to it earlier that you and I are in the same generation. And I don’t want to disappoint somebody who’s really young out there, but there’s not that many things in your life that get more efficient as you get older. Like, that get better as you get older, that guarantee, okay, this gets better every year. It gets more efficient every single year till the day you die.
Mike Morawski: So when I tell people about depreciation, I say it’s the only gift left the government gives you.
Jim Oliver: Well, here’s the other thing is, I just had this conversation with a friend of mine yesterday. She makes a couple million bucks a year and she pays everything in tax. And I told her about a friend of mine who happens to be 35 years old, who makes about $6 million a year in real estate and doesn’t pay any tax. [00:26:00] And I said, so you’re really not making 2 million bucks a year. You’re making like 1. 2 and the government’s making the rest.
Mike Morawski: Yep, 100%. So, what is the cash drag the first year?
Jim Oliver: It depends on your age and everything else, but it’s somewhere between say 38% and 25%.
Mike Morawski: Okay, and then year two?
Jim Oliver: It’s pretty close to even. The way we design it, we try to take that hit in that first year so that we can recover from it quicker. And then the next year there’s an anomaly Mike, it’s about the same. And then every year after that, every dollar that you put in, you have a little bit more. By year five, if you put in a hundred thousand and you don’t have to put in a hundred grand in every year, you can flow money through that. It’s hard to explain without drawing it out, but I’ve got lots of videos on our community, and I teach people this, it’s all free.
I walk you through Nelson Nash’s book in two hours and 30 minutes. And it’s free. But [00:27:00] after the fourth year, it starts to leverage. So every dollar you put in, you might have a dollar, a dollar five, then a dollar eight, then a dollar 12. And again, the reason I know the numbers at 10 years is I try to tell people we have to think long term.
Real estate doesn’t get rich quick. It’s get comfortable, wealthy over time. Now it can be four or five years. I’ve seen these young guys crazy. Some of the stuff that they’ve done. And I know that you’ve had some great success and seen great success quickly. People that you’ve helped in real estate, I’m not saying it’s going to take you 20, 30 years. But I’m saying it’s not overnight.
With wealth and generational wealth, I want you to think at least three generations ahead and it’s all about taxes. That’s the same you just said about depreciation. I couldn’t agree with you more. Every year, this time of year especially, what am I thinking? How am I going to get some [00:28:00] depreciation between now and the end of the year? And that’s why you love real estate. By the way, Mike, this is a side note.
Don’t you love that everybody’s down on real estate interest rates are high and probably evaluations and insurance and I’m like, yes, terrible. It’s the same thing I tell people about Southwest Florida in the summer. It’s too hot. You want to go back north. Why? Because then there’s nobody here. I got the whole place to myself.
Mike Morawski: Good for you. So I want to just go back to this cash drag thing for a minute. So let’s say, I put 100, 000 in and I only can get 40 out, your one.
Jim Oliver: No, 60 something.
Mike Morawski: Okay. Alright. So 60. Can I take that 60 and go and get another loan that will give me three times that?
Jim Oliver: Yeah.
Mike Morawski: And now I have 120 to go invest.
Jim Oliver: Yes. That’s what you do. What I show somebody is I show somebody over four years. And I use a hundred thousand dollars Mike because, and I use it every year just so we can see the [00:29:00] cash flow.
Only because then I can see the percentages. I went to public school. I like the math to be simple. I put in a hundred grand. Let’s say I had 60, i’ll make it worst case scenario. So i’m going to take that 60, i’m going to use it as a 20 or 30 percent down payment. And the reason I normally show 20, because I’m going to go to the seller. I’m going to get them to do 10 or zero, the deal.
Or I’m going to go to the bank and I might get 70% loan divide, but I’m going to average a 80% divide. So I’m going to go buy 300, 000 of real estate. On my 100 grand, I’m going to get 25% cash on cash. Again, it’s just an example. Mike, if I use 15, it works great. If I use 35, it works great.
Some of my real estate investors that are doing certain things. They tell me they’re getting 70% cash on cash. So, I make 25 grand on that. That comes back into my bank. So the next [00:30:00] year I get to use that 25 grand again. But remember, I said I was going to put in a hundred grand and I’m going to have like high nineties, but let’s just call it a hundred.
Now I have 125 to use as a 20% down payment to go buy a property. And I only put a hundred in. So now I’m leveraging already, and then I’m gonna go buy, again, to make the math easy, a $500,000 property, and I’m only putting a hundred of my 125 in.
So now, I’ve got $50, 000 a year coming back into me. And in two years, I’ve got passive revenue of 50 grand. And I never say passive income. And the reason I don’t, Mike is because of what you said, I’m not going to pay tax on all this income I pay tax on. Because I’m going to do cost segregation or I’m going to do some kind of depreciation program to where I’m not paying tax on all that money. [00:31:00] So think about it. I put 200, 000 in and I’ve already got 50, 000 of passive income, that’s 25%.
Mike Morawski: And you help people structure all this?
Jim Oliver: Yep.
Mike Morawski: Okay.
Jim Oliver: I show you how to build this system. You show ’em how to invest in real estate, and all of a sudden, in just a few years, they win.
Mike Morawski: And maybe, moving forward, it makes sense for you and I to stay in a little bit better contact because maybe we help each other. Because I know that I deal with some people that have some implications and have some cash issues where this would be helpful for them. And I’m sure you have people that are looking for opportunity.
Jim Oliver: Every day, somebody will say to me. Jim, what do I do with the money? And I’ll say, okay watch this podcast, watch this. And I can’t recommend somebody, but I can introduce somebody and say, here’s somebody that could teach you how [00:32:00] to do this, or do it with you, or you can do it passively through them or whatever. And you know what, Mike, I don’t do it with somebody who’s been doing this for four years. I watched somebody that’s gotten kicked in the teeth a few times.
Mike Morawski: Thank you. My dentist loves me.
Jim Oliver: Yeah, me too. I wasn’t born with any of these. They were a long time ago.
Mike Morawski: Thanks for being here. And I want people listening in today to be encouraged by this conversation and to reach out to Jim. Jim, how do people connect with you? I’ve been so enthralled. I didn’t even put your banner across the bottom today.
Jim Oliver: No, that’s great. Just go to our website, createtailwind.com. We have also a community. If you go to community.createtailwind.com, Mike, or go on the Apple or Android store and search, CreateTailwind, all one word. And you can find this app. It’s got all kinds of courses on infinite banking. [00:33:00] And I literally walk people through the book and anybody that’s listening to this show and you reach out to me, I’ll send you the book for free.
Mike Morawski: Tell people how to get that book. That’s Jim Nash’s book, right?
Jim Oliver: Nelson Nash’s book. It’s 92 pages. It’s the best book. It’s the only book you need to read about infinite banking. Trust me, it is the book. Just send me an email. firstname.lastname@example.org. And I will send you a book directly from the Nelson Nash Institute. Nelson’s passed away, but his son in law, I have a deal with his son in law where they send out the books for me. It’ll go out in a day or less.
Mike Morawski: Do you have any events coming up or anywhere you’re speaking on this matter at all?
Jim Oliver: I speak on it almost every day online. I just changed our people. You’re [00:34:00] further along in this than I am when you’re doing live events and everything else online. So I would tell you join our community and then stay tuned because we’re going to do more of this, but we’re just behind where you guys are at.
Mike Morawski: I’ll tell you what, I’m going to have you come speak at my summit.
Jim Oliver: I’d love to.
Mike Morawski: This year so. We’ll reconnect on that for sure. And so Jim, I appreciate you being here. I like to always wind down with a couple of bonus questions.
Other than Nelson Nash’s book, what is the best book you ever read?
Jim Oliver: The Go Giver.
Mike Morawski: Berg.
Jim Oliver: Yep. The Five Stratospheric Laws of Success. And if you haven’t read that book, Mike, I’ve given that book away. And I give two books away all the time. Well, three. I give Nelson Nash’s book, but that’s specific. I give The Strangest Secret, and I give The Go Giver away.
Mike Morawski: Strangest Secret, Earl Nightingale.
Jim Oliver: Yeah.
Mike Morawski: How [00:35:00] about best restaurant you’ve ever eaten at?
Jim Oliver: I’m a Del Frisco’s guy, man. I’m telling you. I know it’s a chain, but I love Del Frisco’s.
Mike Morawski: Love that. That’s awesome. Hey, thanks for being here. I’m gonna move you to the back room. I’m gonna say goodbye.
Jim Oliver: Thank you, Mike.
Mike Morawski: I appreciate you hang out with me for a minute. Okay?
Jim Oliver: Okay.
Mike Morawski: Everybody. I have to say that was probably the clearest conversation I’ve ever had with anybody on Infinite Banking. I’ve had a couple other guests on, but Jim, really delivers some great content and strategy. And I believe that it goes to the strategy. How are you going to use your money? How’s that money going to create for you to help you grow forward?
So I’m going to encourage you to reach out to Jim. Get a copy of the book. Talk with him on your own about how you build your own wealth [00:36:00] using this strategy and using my strategy, which is real estate investing multifamily. So if you have capital that you’re putting into a real estate offering, you might want to buy it through this platform versus just cash on the sideline because you can still take advantage of the depreciation and some of the other benefits.
So hey, I want to thank you again for being here today. My guest was awesome. There’s always information out there about live events coming up, our webinars, our offerings. And follow us and like us and love us on social media. Everybody have a great week. Glad that you were here and had the opportunity to listen in and, absorb this information.
Kristen: Thank you Mike, and thank you for joining us for another great episode of Insider Secrets. As always, Insider Secrets is brought to you by My Core Intentions wherever you hang out on social media, you will find Mike and My Core Intentions. Please like and [00:37:00] follow us to get the most up to date real estate investing trends.
Visit mycoreintentions.com where you can get expert coaching on all things real estate investing and property management. If you’re looking to become an expert, Mike’s coaching will help you scale your real estate investment business. We’re looking forward to having you back again next week for more Insider Secrets.