Richard Canfield explains how the Infinite Banking Concept teaches kids to build personal reserves instead of relying on banks. A cash reserve lets you skip bank underwriting, cut costs, and negotiate real estate deals from a position of strength.
Chapters
So I started to introduce the concept and let them know, hey. And I said, just so you know, the reason we have our house is because I started this a number of years ago. And I said, and they're still kind of like, wow, really? And so I explained it to them some more. And it made it that much easier, right? I didn't have to once again go to the bank and beg and plead and jump through hoops like a lot of us real estate investors have to, because it's got to be underwritten and they want to dot every I and cross every T. And that's what I would say. Not that I couldn't get the money because I know where to get it. It's just how much is going to cost. But having this storehouse of reserves kind of tucked away, that was there, I knew I could draw on that, and that's where it gave me that extra, extra confidence. Especially when I made the offer, I knew that the possibility was there.