My Journey on Passive Income that 99% Population Don’t Hear About 7 – Do They Know Each Other?

Continuing from my last post, on the last day of settlement negation, the insurance company (ICBC）’s lawyer said: “I’ve reviewed all the reports from all these years, and time has proven that your injury isn’t as severe as you believe. There’s no nerve damage. It’s not the big case you thought, with a settlement amount of xxx dollars. It’s just a typical case in the range of xxx-xxx. We cannot agree to your settlement range. We will go back and regroup, then communicate with your lawyer about the next steps.” I looked at my lawyer, who remained calm, and he...

My Journey on Passive Income that 99% Population Don’t Hear About 8 – Return & Term?

Continuing from last post, my case was finally settled! During those years, I’ve also somewhat realized my entrepreneurial dream, going solo in my career. My main niche was helping people achieve 8-12% (annually) passive income primarily through two products. One involves lending, with an annual return typically ranging from 8-12%, and it provides a steady cash flow. The other is real estate private equity, where I usually convert single-family homes into duplexes or triplexes and eventually manage multifamily properties, ranging from 6-20 units. As I developed my business, my lawyer, of course, knew about it. After quite a while post...

My Journey on Passive Income that 99% Population Don’t Hear About 9 – Purpose of Funds

Continuing from last post, my lawyer and I are both straight shooter. After all, we’ve known each other for quite a few years, and I’ve been lending money on my own for a number of years while helping others do the same; meanwhile, he has become a leading personal injury lawyer in BC with frequent media appearances and commentaries, while even writing curriculum for law school textbooks. So we went straight to the point. He mentioned his current pain point was that the number of cases came to his way has been increasing significantly, reaching several hundreds. Each case requires...

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

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...

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

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...

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

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...

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