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Old 03-08-2014, 10:18 AM   #21
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Its insurance with a twist of banking/insurance BS "puffy talk" they call in on the used car lots!

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Old 03-08-2014, 01:26 PM   #22
Thinks s/he gets paid by the post
Join Date: Jun 2007
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There's an outfit here that's pushing very hard for people to join their real estate investment syndicates. They group buy big apartment buildings, or they counsel you to buy smaller duplex, triplex investment properties. Actually seemed like a legit idea, until they revealed that they have an insurance side of the business and all their "investors" buy big insurance policies that do the bank on yourself thing. By pumping all the cash flow into insurance premiums they claim the cash value builds up and you then "loan" yourself the money tax-free. I was going to ask some hard questions about the real estate commissions paid for deals they put people in, but it seems they are so greedy they grab a second commission on any profits by insisting on "investing" the proceeds with their captive insurance agent (family member). Egads. But they seem to have lots of people doing deals with them.

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