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Page 29

My Journey on Passive Income that 99% Population Don’t Hear About 14 – Terms and Conditions?

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Continuing from last post, I created three models based on the profit-sharing data provided by the lawyer. Simultaneously, I cross-checked the various pieces of information online to confirm the range of the numbers he gave, making conservative adjustments. The results were surprising – even the worst-case scenario indicated that he was making a substantial profit on each case, after deducting interest. I mean, a lot of $$! This also included the costs of his team’s salaries and other expenses I could think of! And this was only for car accident cases, not including the compensation from the medical cases he... Continue reading

My Journey on Passive Income that 99% Population Don’t Hear About 13 – Due Diligence?

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Continuing from last post, I asked him directly about his income range, and he made a gesture (to me it was 7 figure range and this was several years ago). I said, “I need to verify this myself. I know how many cases you have, can you tell me the compensation for each case, the profit-sharing situation at the law firm, etc.? This way, I can estimate your future income level. I need this information to consider my decision.” He smiled and then said, “I’ll give you a range; you go ahead and do your due diligence. I have approximately XXX-XXX cases on hand. The interest... Continue reading

My Journey on Passive Income that 99% Population Don’t Hear About 12 – Risks？

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Continuing from last post, I asked him about the success rate of all his cases so far, and whether he had gone through the claims process with the ATE insurance in the event that settlement amount was not enough for his disbursement amount on any file. He explained that the cases themselves were pretty standard to process and out of his several hundred cases up to today, only one couldn’t recover costs (which was the only time he actually went through ATE), so the overall success rate for the cases themselves was definitely over 99%. He also shared that the one time... Continue reading

My Journey on Passive Income that 99% Population Don’t Hear About 11 – ROI & Risks?

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Continuing from last post, this time I will share about returns, terms, risks and other real numbers that you’d be curious about!I told the lawyer that I could get steady double-digit returns elsewhere, so tell me his proposal. He said, “In this industry, the interest rates for legal lending are similar. Both law firms and banks operate in the low teens range, so I can consider offering a similar rate. Initially, let’s start at 10% annual interest rate, and if you find the experience truly good, passive and want to lend more eventually, we can gradually increase the rate depending on the amount... Continue reading

My Journey on Passive Income that 99% Population Don’t Hear About 10 – Why Lawyer Needs the Funds?

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Continuing from last post, the lawyer explained to me that typically, case funding came from the law firm itself. Law firms provided financial support to their lawyers in exchange for profit cut from each claim when the case concluded, and law firms’ funding itself was typically from wealthy partners and banks. The larger the law firm, the more funding it could provide to its lawyers, enabling them to take on more cases. This created a positive cycle where more cases led to more funding, and more funding led to more cases. Therefore, there has never been a shortage of disbursement... Continue reading

Showing 141–145 of 154 posts

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