Creating A Money Multiplier With Brent Kesler

In this episode, our guest, Brent Kesler, who was a Chiropractor and Chiropractic coach for over 14 years, shares a very unique strategy that got him out of $984,711 in third-party debt. He accomplished this in 39 months after implementing The Money Multiplier (TMM) Method. He became so passionate about how powerful this concept was, he began sharing it with others, and he breaks down the basic principles in this interview.

Brent shares his background, explaining how he grew up in Florida and worked his way up the ranks in a grocery store. He had always wanted to be a Chiropractor but was financially constrained. Following a transfer to St. Louis, where he met his wife, she encouraged him to go to chiropractic school and gave him immense support. In the end, though, he found himself with some pretty substantial debts to pay off.

Explaining how he ended up with five chiropractic clinics, Brent notes that he moved from his first clinic upon realizing that the location wouldn't work for his family. He trained an associate doctor to work there and opened another. Subsequently, he did the same for the second clinic when he was craving more free time. After eventually selling all the clinics, Brent believes he should have kept part ownership of the business since it was such a great profit center.

Brent explains that he was recommended a talk called, "The Infinite Banking Concept: How to Become Your Own Banker," based on a book by Nelson Nash. After hearing from his colleagues the power of this particular strategy, and with almost a million dollars in debt, he decided to apply it. He paid off all his debts within 39 months of beginning the use of this strategy, without changing cash flow, working harder, or taking more risk.

Brent said that all he needed to do was change one thing in his financial life and that was developing his own infinite banking concept process. This involves building your wealth with a specifically designed whole life insurance policy in a mutual company that pays dividends. It is a huge cash value policy and you're able to start using money paid into premium within the first 30 days. The idea is that anytime Brent uses money in the policy, he doesn't take money from the policy but instead puts the policy up for collateral to take a loan from the general fund of the insurance company. This means his money is untouched and still growing tax-free.

Brent discusses the details of buying policies and taking loans in this way. He also noted that you never have to pay back your policy loan, because the loan is simply a prepayment of the death benefit and the death benefit is usually far more than the loan or cash available. Also, the insurance company cannot lose because you're guaranteed to die at some point and any outstanding loan you have on the policy will be paid by the death benefit. The difference between the death benefit and the loan will be paid to your beneficiaries.

Brent Kesler describes how to fund your real estate deals using this strategy in his book, Mapping Out The Millionaire Mystery, which he wrote with Chris Naugle, a client of his. Chris is active in real estate investing, and he shows how he uses all his policies to fund his deals. Brent shares that although Chris was a financial adviser, he never learned about this strategy until they met. He explains that insurance companies don't teach agents about designing the policy this way because the agents have to take a huge hit in their commission.

Brent explains that he never tells anyone where to start with their premium and that you don't need to have a huge amount of money to start. He shares that 91% of the clients that have been with him for a year or more, come back and add onto their policy. Before Brent sets up a call with a potential client, he advises them to watch the presentation at the top of his website’s home page, under the Resources tab, to get acquainted with his investing strategies.

Brent shares that all listeners of Mike's podcast can contact him to get his Mapping Out The Millionaire Mystery ebook for free or choose to pay for postage to get the hardback copy. You don’t want to miss this episode of the Just Start Real Estate Podcast to get this unique, exciting, and helpful advice for achieving financial freedom with The Money Multiplier, Brent Kesler!

Notable Quotes:

"Love doesn't buy your lunch."

Brent Kesler

“I told my wife at age 28, ‘If I go and do this, by the time I'm done, I'm going to be 34 years old.’ My wife said, ‘Well, if you don't do it, you will still be 34 years old in 6 years.’”

Brent Kesler

"People think if they're older than their early 20s, they're locked into what they are doing, but they're not."

Mike Simmons

"Make a decision...you can either play for the next 10 years and then have to work the rest of your life, or you can work for the next 10 years and play for the rest of your life."

Brent Kesler

"The decisions that you make today are going to affect the next 5 years of your life."

Brent Kesler

"So I thought to myself, there has to be something to this right? There's no way 10 or 12 of my closest colleagues are lying to me."

Brent Kesler

"All I did was add one step in my financial life and it drastically changed my financial life."

Brent Kesler

"I don't care if you make $10 an hour or $10,000 an hour, everybody needs to break the bonds of financial slavery they don't even realize they're in and start taking control of their wealth."