On this episode of Free Coaching Friday, I’m sharing how you can raise hundreds of thousands of dollars without asking for a single penny!

When I lost my line of credit in 2009, I was devastated…but it turned out to be the best thing that I could do for my personal wealth. With private money, you can finally stop relying on bank loans and start taking control of your own terms and interest rates. Tune in to learn how you can replicate exactly what I did to raise private money without ever having to ask for money!

I’m also excited to share my brand new free resource that can guarantee you exceptional profits and success when investing with private money. Check the links down below to kickstart your private money journey today!

Key Takeaways

• Learn how to stock up on private money for future deals
• Understanding what private lenders do
• Why you will earn MORE with private lenders
• Where to easily find private lenders

Check out my book: 7 Reasons Why Private Money Will Skyrocket Your Real Estate Business and Help You Build Incredible Wealth!

Get it here for FREE: www.jayconner.com/moneyguide

Sign up for the Private Money Academy and get 4-weeks free: https://jay-conner.mykajabi.com/offers/AMM4hCPW/checkout

Timestamps:

0:01 – How To Raise Private Money Without Asking For It

0:31 – The Traditional Way

0:45 – I am Offering A Mortgage

2:42 – The Biggest Blessing In Disguise

3:22 – Jay’s Free Money Guide: https://www.JayConner.com/MoneyGuide

4:11 – What Is A Private Lender?

6:34 – Why Jay Conner Loves Using Private Money

How To Raise Private Money Without Asking For It Free Coaching Friday – Real Estate Investing Minus The Bank With Jay Conner

 

[00:00:00] Jay Conner: 

What’s up, guys? Jay Conner here, The Private Money Authority, and today on Free Coaching Friday, we are talking about how to raise private money for your real estate deals without asking for money. Check that out. Raising hundreds of thousands of dollars in private money without asking for any money. So people ask me all the time, they say, Jay, how do you have millions of dollars available to you?

To use for your real estate deals and you don’t ask anybody for money. Here is the secret. You see the old traditional way of raising money, you would go to the bank, get on your hands and knees, put your hands underneath your chin, and you’d say, please fund my deal. Please fund my deal. Listen, in this world of private money, we’re not asking for a mortgage.

We are actually offering a mortgage. Back in 2003, my wife Carol Joy and I started investing in real estate single-family houses. Here in Eastern North Carolina and from 2003 to 2009, I relied on the local banks. They made the rules, but then I was on the telephone right here in my office in January of 2009, and I learned after having two deals under contract I had the contract talking to my banker, and I’d had this conversation many times with my banker about funding my deals.

Listen, I lost my line of credit, like every other real estate investor in the nation and in the world. You remember maybe what was going on in 2007, 2008, and 2009. And so I hung up the phone and I asked myself, who in the world can help me with my problem? I’m getting ready to lose over a hundred thousand dollars in profit on these two deals.

So I called my friend Jeff up in Greensboro, North Carolina. He was a real estate investor. I said, And I told him what had happened. He said welcome to the club Jay. I said, what club? He said, the club of losing your line of credit at the bank. I said, oh. I said how are you funding your deals? And he said, private money.

I’d never heard of private money. I’d never heard of self-directed IRAs and how individuals can move their retirement funds over to a self-directed I r A and actually funds their deals. So I studied private money. I put my private money program together. I started teaching people here in our local area, my private lending program, what interest rate I would pay ’em, the length of a note, and how they could earn high rates of return very safely and very securely.

So I was able to raise and attract $2,150,000 in new funding that I didn’t even have. Listen, it was the biggest blessing in disguise that I’ve ever had in our investing business. In fact, our business tripled the first year that we were using private money. I’m gonna share with you some step-by-step instructions here on Free Coaching Friday, on how exactly to get all the funding.

In fact, you’ll have a problem. There’ll be more money at your disposal that you can use. For your real estate deals, then you can actually put in the work. So I want to go ahead and give you a free gift and then we’re gonna dive into this training of how to raise private money for your real estate deals without ever asking for any money.

And so I wanna give you this free gift. I am so excited about this new private money guide I recently finished writing. You can download it for free, and it’s called Seven Reasons Why Private Money Will Skyrocket Your Real Estate Business and Help you build Incredible Wealth. That’s right how seven Reasons Why Private Money will Change your business.

You can download this for free. At www.JayConner.com/MoneyGuide.  Again, you can download that for free at www.JayConner.com/MoneyGuide. So let’s get into this. That’s exactly how you raise money for your real estate deals. Without asking for it. First of all, let’s be very clear as to what I mean by a private lender.

A private lender in this world is an individual who loans you money from your investment capital or from their investment capital and or their retirement account. So private money in this world for your real estate deals, it works for single-family houses, it works for commercial deals as well. It is a one-on-one transaction between you.

And an individual, so I’m not talking about JV partners. The old business model is somebody puts up the money, somebody else finds the deal, negotiates the deal, oversees the deal, and then at the end of the transaction you share in profits. Guess what? That is not this world.

That’s called joint venturing. So we’re not in this world of private money. We’re not sharing any of our profits with the lender. So we’re not talking about hard money lenders at all. The big difference between hard money lenders and private lenders. A hard money lender is typically a broker of money. A hard money lender goes out and raises money from private lenders and then loans it out to real estate investors and makes their money on origination fees and points.

In this world, there are no origination fees, there are no points, and we set the interest rate. Okay? It’s our program, and in the money guide that you can download It. It shows you how to structure your program just like mine so that you can start teaching people. Now, there are different categories as to where you find private lenders, and I’ll go over that in just a moment.

So we’re not talking banks, financial institutions, we’re not, we’re talking about doing business with individuals. And we’re not talking about raising money for a fund, okay? We’re talking about raising the money, and then we use the money, and the loan is secured by the real estate that we’re purchasing.

So these are all called one-offs. You have a private lender or a couple of private lenders that are funding your deal, and then you’ve got the real estate, the single-family house. The property is securing that note that they’re loaning you the money on. So each lender’s loan is secured by an individual property.

Now there’s a long list of why I absolutely love private money. Number one, there’s no credit check. Your credit’s got nothing to do with how much private money you can get for your real estate deals. There’s no income verification required. There are no points, there are no appraisals. How about that? And one of my favorite reasons to get private money from deals is that we receive multiple checks on every deal.

How about this? Don’t you want to use private money to fund your real estate deal and you take none of your own money to the closing table? When you borrow private money, you’re actually able to borrow more than you need to purchase the house. How about that? How about a receipt? Who wants to get paid to buy houses?

So you get a big check when you buy. You get another big check when you cash out and sell, right? As I said a moment ago, you get to make the rules. Here’s another big reason I love private money. There’s no limit to the number of private lenders that you can have. Also, you can borrow across state lines because there’s no regulation from the commissioner of banks.

And in this world of private money, you are not limited to accredited investors. You see the law changed a few years ago under DOD Frank Rule D. It’s called 5 0 6 Rule 5 0 6 B. You’re not limited to borrowing from credited accredited investors. So again, this water, private money, it works for single-family houses.

It works for commercials. All right? Now, I mentioned a moment ago, there are three markets where you can get private money. Your existing warm market, that’s people you’ve got some kind of influence with. Then there is your expanded warm market, get even more involved in the community, and then there are existing private lenders.

How can you find existing private lenders that are already loaning money out? I’m gonna be talking about that on the next episode of Free Coaching Friday, so you don’t want to miss that again. Go ahead. Take advantage of getting on the fast track to private money for your real estate deals.

Download for free My New Money Guide. Seven Reasons Why Private Money will skyrocket your real estate business and help you build incredible wealth. Downloaded it www.JayConner.com/MoneyGuide. Look, have a fantastic day. Get on the fast track to getting all the private money you would want for your deals.

I’m Jay Conner, The Private Money Authority. Wishing you all the best and here’s to taking your business to the next level. See you right here on the next Free Coaching Friday.