Are you looking to break into real estate investing or seeking to expand your current portfolio?
In the latest Raising Private Money podcast we sit down with seasoned real estate investor Ed Mathews as he shares his wealth of knowledge and experience in raising over $10,000,000 for his real estate business specializing in multifamily properties.
Join Jay Conner and Ed Mathews as they delve into the world of real estate investing and uncover the secrets of attracting private money for your ventures.
Ed Mathews discusses the three main problems aspiring real estate investors face—lack of time, finding money, and finding deals—and offers practical solutions to these challenges.
From networking strategies to his new book, “Investor’s Deal Flow Playbook,” he provides valuable insights to help you navigate the real estate investment landscape.
Ed’s forthcoming training course is aimed at assisting investors in building relationships with brokers, property owners, and fellow investors, providing a roadmap to success in the industry.
Both Jay and Ed stress the importance of mindset in attracting and utilizing private money for real estate ventures, emphasizing the value of human-to-human conversations in building trust and making informed investment decisions. They also discuss their experiences with using private money in real estate deals and share practical tips for aspiring investors.
Whether you’re a seasoned investor or just starting, this episode offers a treasure trove of wisdom that can take your real estate investment journey to new heights.
Don’t miss out on this engaging conversation packed with wisdom, expertise, and the potential for life-changing opportunities in the world of real estate.
Timestamps:
0:01 – Raising Private Money Without Asking For It
2:10 – Ed Mathews, A Decade Of Experience With Private Money
8:27 – Raising Private Money Is All About Mindset
16:19 – Raising Private Money With A Servant’s Heart
24:44 – Connect With Ed Mathews: https://www.ClarkSt.com
28:35 – Best Ways To Find Private Lenders
34:44 – Jay Conner’s Free Money Guide: https://www.JayConner.com/MoneyGuide
Connect With Jay Conner:
Private Money Academy Conference:
https://www.JaysLiveEvent.com
Free Report:
https://www.jayconner.com/MoneyReport
Join the Private Money Academy:
https://www.JayConner.com/trial/
Have you read Jay’s new book: Where to Get The Money Now?
It is available FREE (all you pay is the shipping and handling) at https://www.JayConner.com/Book
What is Private Money? Real Estate Investing with Jay Conner
http://www.JayConner.com/MoneyPodcast
Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal.
#RealEstate #PrivateMoney #FlipYourHouse #RealEstateInvestor
YouTube Channel:
https://www.youtube.com/c/RealEstateInvestingWithJayConner
Apple Podcast:
https://podcasts.apple.com/us/podcast/private-money-academy-real-estate-investing-with-jay/id1377723034
Facebook:
https://www.facebook.com/jay.conner.marketing
Twitter:
https://twitter.com/JayConner01
Pinterest:
https://www.pinterest.com/JConner_PrivateMoneyAuthority
Ed Mathews and Jay Conner on Multifamily Real Estate and Private Money Investing
Jay Conner [00:00:03]:
Welcome to another amazing episode of Raising Private Money. I’m Jay Conner, the Private Money Authority, your host of the show, and this is where we talk about raising Private Money for your real estate deals without ever having to ask for money. We’re going to peel that back and show you exactly how we do it. And we’re going to do it with a very special guest that’s joining me today. He is a seasoned real estate investor, and he has already raised over $10,000,000 in his real estate or for his real estate business. So with over a decade of experience, he built a portfolio of multifamily properties. So as you know, I focus on single families. Our guest today has raised Private Money for multifamily, so you got it covered on both ends.
Jay Conner [00:00:53]:
So for 24 years, my friend and guest, he worked for Silicon Valley Startups And he was honing his skills and, you know, he was in the Go-Go Tech world craziness. And it wasn’t until 2011 that my friend bought his 1st rental property. Well, I tell you what, finally, in 2018 He left the rat race to focus entirely on growing his real estate business. He and I are going to be talking in this show about how we go about attracting all this money without ever having to ask anybody for money. In just a moment, you’re going to meet my good friend and special guest, Mister Ed Mathews right after this.
Narrator [00:01:42]:
If you’re a real estate investor And are wondering how to raise and leverage Private Money to make more profit on every deal, then you’re in the right place. On raising Private Money, we’ll speak with new and seasoned investors to dissect their deals and extract the best tips and strategies to help you get the money because the money comes first. Now here’s your host, Jay Conner.
Jay Conner [00:02:10]:
Well, hello, Ed, and welcome to the show.
Ed Mathews [00:02:13]:
Good to see you, my friend. How have you been?
Jay Conner [00:02:14]:
I have been fantastic. And so good to have you come along because, I mean, man, your expertise, your experience, the journey that you have had in your real estate investing business. I mean, you’ve already raised $10,000,000 in Private Money yourself. You’ve got the experience. You’ve got the street-smart experience of actually how we go about doing this. Now my guess is and I don’t know the answer. My guess is you and I had a similar experience. We’re getting ready to find out.
Jay Conner [00:02:48]:
My experience with Private Money and starting to raise Private Money for my deals. I didn’t start that way. I started full-time back in 2003, And for the 1st 6 years, I didn’t know anything about Private Money. I never heard of self-directed IRAs. I didn’t know anything about private lending. All I knew to do was go to an institutional lender, a bank, a commercial lender, whatever, to get funding for my deals. That’s all I needed to do until January 2009 came along. Excuse me.
Jay Conner [00:03:25]:
And I was cut off. I lost my lines of credit. Had to learn about Private Money. Of course, it was a big blessing in disguise. I’ve raised a little over $2,000,000 in less than 90 days. So my banker did me a favor by cutting my lines off. So did something happen along your journey to where you didn’t you weren’t using Private Money to start with? Did you start your real estate journey by using Private Money for your funding?
Ed Mathews [00:03:55]:
Yeah. It’s a great question, Jay. Thanks again for having me on the show. I’m I’ve been. This is one of those days where I circled the calendar. I was excited to be here. So, you know, in terms of where I started, I started with, my own money. And so I would get a commission or get a bonus, and I’d take that money and I’d sock it away.
Ed Mathews [00:04:14]:
Eventually, I bought a 4 family, and There’s a story behind that, but it’s, it’s a long one, so I’ll skip over it. But the, you know, the bottom line is I realized as I was Acquiring new properties, I would get a bonus, get a commission, save a little extra money, Buy a multifamily, and I wasn’t moving fast enough, so I started flipping houses as well. And so we would flip a couple of houses, Take the capital, and go buy another multi and rinse and repeat, rinse and repeat. And we did that for the better part of 7 years. And then when I went full time, I had it, you know, a pretty decent next nest egg from my tech career, and I used that to start acquiring, and I was my mindset was not where it needed to be nor where it is today and that, you know, I’m not infinitely wealthy, so I can only go as fast as I can create force appreciation, refi, And ultimately, going by something else, which I did for the 1st year and a half of my full-time career, And then realized that, there were lots and lots of people around me who would love to get into this business, Just don’t have the time because they work 40, 60, 80 plus hours a week, and this is a labor-intensive jobs. So it is, something that I realized that I could solve a problem for my friends, members of my family and their friends, and then ultimately, a much larger group of people. And so that’s when I started to get into I changed my mindset, which I definitely wanna talk about, and started to raise money.
Jay Conner [00:06:07]:
So you didn’t start just using your own money.
Ed Mathews [00:06:10]:
I did. Yeah.
Jay Conner [00:06:11]:
And it sounds like, what you discovered very, very quickly was that you just can’t scale fast, you know, unless, you know, you’re Warren Buffett or somebody, and you’ve got, you know, no bottom to the bottom of the barrel there. And so Now I hear you correctly in saying you were attracted to raising Private Money so you could grow your business quicker and faster.
Ed Mathews [00:06:39]:
Yeah. You know, I was talking with a former boss of mine, and he was asking, you know, hey. How are things going? And, you know, What’s what’s it like not flying all over the world and slinging software and services? And that part of it, I said I don’t miss at all. I miss the people. I don’t miss the job. Right? And, you know, he was asking, well, how are you Growing your business? And I was explaining to him that, you know, we would dip into, our holdings or we would refi something after a couple of years, and we’ve been able to force appreciation or, you know, I would flip a couple houses and take that capital and go buy something. He said, why aren’t you raising money? Because you come from this business.
Ed Mathews [00:07:23]:
Right? You know, all I did for the 1st 24 years of my professional career was work for companies that raised money from venture capitalists, and that’s how that’s one of the ways they grew. And it was like like dawns on marble head. I thought, why the heck did I not think that through? You know, part of it was a little bit of greed. Right? Admittedly, I wanted 100% of the deal. Mhmm. But the problem was I was Passing over deals because I didn’t have the money to buy them, so I would catch it and, you know, I’d have to either pass or hand it off to a friend of mine, and, that was more painful than giving up, you know, 30, 60, 70% of the, the deals. And, you know, I’ve part of the mindset shift was I would love to own 10, 20, 30% of a deal, and then be able to close on all the deals I find as opposed to just, you know, a few of the deals I find.
Jay Conner [00:08:26]:
Mhmm. You said a word a few minutes ago that is probably the most important word that I’ve heard you say since we started our conversation, and that word is mindset. Yeah. So let me start the let me start the conversation about mindset and how it relates to Private Money and attracting Private Money.
Ed Mathews [00:08:49]:
Yep.
Jay Conner [00:08:50]:
But I’ll let you go first. Why is mindset so important in this arena, and What kind of mindset are you talking about? And then I’ll tell you what I was thinking.
Ed Mathews [00:09:01]:
I went from thinking about I want 100%. It’s a multifaceted answer. Right? I went from thinking about I want 100% to, And I only get every 3rd or 4th deal so I’ll take 10, 20, 30% off and put my own money in as well, but I also can raise money to move faster, and I get all of the deals that or I get a piece of all the deals that come across my desk. And So that was a big mind you know, a shift in my mindset. The 2nd piece of this is that when I started raising money, I came at it as a technology person. Right? And so I had been in the room when, you know, our teams were raising 1,000,000. In some cases, 100 of 1,000,000 dollars. I wasn’t the guy in the front of the room.
Ed Mathews [00:09:55]:
I was one of the people in the back of the room paying attention taking notes and trying hard to learn. And then, you know, the fact is that I learned very quickly that I realized quickly once I got back into that thinking that I’m not asking for money. I’m offering an opportunity or I’m solving a problem. And once that shift occurred, Then I was off to the races because I know that there are, You know, there are roughly 12,000,000 accredited investors in the United States, a little bit more than that. And for me to grow my business, I need Somewhere between 100 and 150 of them that are active at any given time. Right? And so I just need a teeny tiny slice of that world to grow my business, and those 100 to 150 people or families, can then grow their business or their holdings at a rate that is, a, more stable, and, b, higher than what they could get in, say, the stock market. Right? I am you know, part of my approach and the way I think about Raising money is I am helping people get off the roller coaster that is our stock market. I look at it as a casino, and, you know, I’m walking in the door With, you know, huge limitations in terms of my ability to predict where the market’s gonna go Because there are warehouses out there that are trading in the nanoseconds, and I have neither the infrastructure nor the expertise to be able to outplay them.
Ed Mathews [00:11:43]:
And so I’m just on for a ride, and that is not the way my brain is wired. I’m you know, one of the things I love about real estate is it’s tactile. You can go. You can touch it. You can physically change the value of it. I don’t have to count on anyone else. I don’t have to hope that the CEO of GE, for instance, knows what he’s doing, and, you know, I because I know what I’m doing, and so it allows me to Have a lot more control. And now in raising money, I can offer that same control to other people, and that is What I found is valuable to those people.
Jay Conner [00:12:21]:
What you just said, Ed, is just so point on. One word you said, in what you were just talking about was you said the word solution. So I have discovered and I’ve experienced the same thing as you. I talked with other real estate investors. Some of them are new that they come to my world, and they want to learn how to raise Private Money. And the first thing that I gotta fix in their head is what we’re talking about. The first thing I have to fix is, first of all, they have a fear of rejection. And so I have to Explain it in a way that they understand.
Jay Conner [00:13:01]:
And here’s the question. How can you be rejected if you’re not asking anybody for anything?
Ed Mathews [00:13:08]:
And being yeah.
Jay Conner [00:13:10]:
Go ahead.
Ed Mathews [00:13:11]:
And being rejected is fine. You know, one of my mentors, one of my favorite people in the world, Pete Black, a Guy I used to work for, back in my software days, you know, he said, yes is the best answer. No is the 2nd best answer. It’s maybe that’s death. Right? And so I, you know, having been in sales and marketing and operations, and I got very used to hearing people say no, And that’s okay. Right? Because they’re not saying no to you personally. You don’t take it personally. They’re saying no to your offer.
Ed Mathews [00:13:42]:
And so the really smart kinda next level thing that that I’ve learned over time is I I take that no in. I acknowledge it. I understand it. I give it a little bit of space, and then I follow up with him. I say, hey. Let me ask you something. Was it a timing thing for you? Was it, you know, what could I have said or done to make you more comfortable so I can learn from that, so the next time I have this opportunity, I can, You know, present it more effectively? And, you know, half the people will gladly take that phone call, and they’ll tell me, You know, bad timing.
Ed Mathews [00:14:18]:
I don’t believe in the project. You know, my wife didn’t like you. Whatever. Right? And that’s okay because they said no to my offer. Instead of saying no to me. And, you know, when I’m ever when I’m counseling people, And like you do in terms of, you know, getting to that place in their head where they can start to raise money, that’s one of the key things that I need them to understand is that you know, they’re saying no to your offer. When you go home, Your wife is still gonna think you’re amazing. Your kids are still gonna think you’re 8 feet tall, and your friends are still gonna love you.
Ed Mathews [00:14:56]:
And Your life doesn’t change at all when you hear no. Right? All that no gives you is more time because you know not to spend any more time on that person for this particular project. Right? It’s maybe that is is is the worst answer because then you continue to spend time, and, they may or may not move forward. I love no’s because I gamify it. I go 1 step further and gamify it. So I know that you know, if I talk to 20 people, usually 2 or 3 of them will say yes. And sometimes it’s a lot more, sometimes a little less, but, most of the time, it’s usually in that, you know, 10 to 15, maybe 20%. And, you know, every time I hear a no means that I’m 1 step closer to that yes.
Ed Mathews [00:15:48]:
Right? And I track that stuff. I have a little Checkpad here on my desk, and I’m ticking, you know, yeses and noes because I know, you know, it’s a silly little thing that I do, but it motivates me because I know I’m getting closer.
Jay Conner [00:16:00]:
Ed, have you, by chance, heard of the book Go For No?
Ed Mathews [00:16:05]:
I have heard of it. I can’t say I’ve read it.
Jay Conner [00:16:07]:
Oh, it’s fantastic it’s a little, teeny, tiny book. Go for no. I’ve got it over here on my bookshelf. I can’t think of who the author is. But, anyway, it sort of gamifies it. It does. But back to what we were talking about, about not asking for money. It is all one thing I’ve learned, whether it’s raising Private Money, doing deals, talking to Sellers, or talking to buyers, it doesn’t matter.
Jay Conner [00:16:31]:
As long as we are focusing on serving them.
Ed Mathews [00:16:35]:
Yes.
Jay Conner [00:16:35]:
And helping them fix a problem. Right. I don’t have to worry about me. Right? But, I mean, where I get in trouble is when I’m focusing on me, and I’m trying to talk to them, and they know intuitively I’m focusing on me. So how do we fix that? Well, I’ve I used to say it all the time. I now actually have a real I used to tell people all the time, put on your teacher hat. Yep. And start teaching people what Private Money is, and how they can get high rates of return safely and securely, all backed by real estate.
Jay Conner [00:17:10]:
Right. And so here’s how this plays out. I have 47 Individuals and private lenders. We’re not talking hard money or institutional lenders here in this conversation. I have 47 individuals who are investing in our Single house, in our single-family houses. And here’s what’s interesting, Ed. Here’s what’s interesting. Not one of those 47 people had ever heard of Private Money or private lending. Didn’t know what it was? Didn’t know what the phrase meant? They certainly had never heard of self-directed IRAs and how they can move their current retirement funds over to a company, a third-party custodian, self-directed IRA, and invest in our deals and loan us money.
Jay Conner [00:17:55]:
So what did I do? When I was cut off with the bank, I put on this teacher hat, And I just started visiting with people that I go to church with, in the Rotary Club, in Business Networking International. And what I did was put my program together, my private lending program, that I would teach people. Well, here’s my program. Here’s the interest rate I pay. Here’s how you money back in case of an emergency. Here’s the length of the note. And you know what? In my single-family house realm, this does not apply when you’re raising money for syndication on large multifamily projects such as apartments. That’s syndication.
Jay Conner [00:18:33]:
Everything that I do is what we call one-offs. Meaning, that you got a private lender or maybe a couple of private lenders that are funding a single-family house deal. So as a result, part of this that takes all the pressure off I mean, there’s no yes. There’s no no. I teach the program. Well, I don’t have to ask what you think about it, because, after all, they’re not gonna be listening to me teach the program either at a private dinner luncheon or over coffee or whatever. Yep. Unless they have investment capital.
Jay Conner [00:19:04]:
Right. Or retirement funds. Right.
Ed Mathews [00:19:07]:
Right.
Jay Conner [00:19:07]:
And so, I teach the program and then I shut up. It takes 20 minutes to talk through the program, you know, as to how they would benefit. So they simply tell me how much they got to work with. You know, is it in their retirement funds? Do I need to introduce them to Quest Trust out of Houston to move their monies over so they can invest? And then here’s what you’re gonna love this, Ed. And then when I’ve got a deal for them to fund, I don’t call them up and tell them about the deal and ask them if they wanna fund it. That’s the most stupid question in the world I could ever ask them. Of course, they want to fund it.
Jay Conner [00:19:41]:
I give them what’s called the good news phone call. And the good news phone call goes like, hey, Ed. I got great news for you. You’re one of my new private lenders in this You’ve already told me you got $150,000 to invest. And so you’re sitting by the phone waiting for the call because I didn’t have a deal for you when I first taught you the program. So I just called you up and said, Ed, I got great news for you. I can now put your money to work. Got a house in Newport with an after-repaired value of 200,000.
Jay Conner [00:20:11]:
The funding required is 150,000, which I know you have. Closing is next Wednesday. You need to wire your funds by next Tuesday. I’ll have my real estate attorney email you the wiring instructions. End of conversation. Yep. Because I mean, particularly if they have moved their money, their retirement funds, over to a self-funded IRA company, they’re not making any money until you call them up and put their money to work. It’s all about Serving not asking, begging, chasing, selling, or persuading.
Ed Mathews [00:20:43]:
Yeah. If I feel that I’m working that muscle or I’m trying to persuade somebody, I stop because it’s not the business I’m in. Right? It’s, You know, my job is to understand where someone is or a family is, where are they trying to go, and figuring out If this project that we have coming up, for instance, is a fit to help them get a few steps closer to their ultimate goal. If it is, great. Then they get the good news phone call.
Jay Conner [00:21:14]:
Good news.
Ed Mathews [00:21:14]:
And I’m gonna borrow that because I don’t just call it a phone call, but that’s okay.
Jay Conner [00:21:18]:
That’s the good news phone call.
Ed Mathews [00:21:20]:
Yeah. And, you know, so that’s what I do is it’s, there’s an old sales term. I wanna say, Brian Tracy. I got it from Brian Tracy, but, it’s dig your well before you’re thirsty. Right? And so I am like you. I’m out there educating people. I want them to understand not only that we syndicate some of our deals, but most of our deals are just private lending deals, or occasionally, there’s a joint venture, but most of them are private lending deals. And so My focus on that is to do what you do.
Ed Mathews [00:21:59]:
I educate them, and I do that for a couple of reasons. I wanna establish that I understand you know, I need to understand where they’re trying to get. I want them to understand that I’m a, you know, somebody that understands or, you know, is good at their job and knows what they’re doing and that their money is ultimately gonna be safe with us. And then the last part of it is I wanna make sure that they are asking the right questions of me, and Otherwise, you know, I’ve had multiple experiences where I so we have a podcast as well, called you don’t mind, I can mention it, the real estate underground. And, you know, we have a pretty good audience, not quite as big as yours, but that we’re working on it. The, you know, the whole idea is that we’re out there educating people. I interview people, and, you know, we wanna drop those gold nuggets in that 30 to 40 minute Time frame. And what happens is they hear you know, the audience hears The tone, my approach, my mindset, the value system with which we operate, and they start to feel like they know me.
Ed Mathews [00:23:13]:
Right? And they do to a certain extent, but, I’ve had more than 1 meeting where I’ve met with an investor and he or she has Ted, well, I don’t need to ask you any questions. I’ve been listening to your podcast for 6 months. And my eyes go wildly, yes, you do. You have you know, There are 112 questions you should be asking me literally, and I wrote a book about it. And I give it to everybody. Right? And so The, you know, the whole idea here is that I want them to there’s there’s, you know, there are people out there that Say they’re good at their job, but not quite. And so, you know, you’ve got as an investor, you’ve got to Run them through a vetting cycle so that you understand that, you know, that they know what they’re doing from an operator perspective. They know what, You know, they know how money works.
Ed Mathews [00:24:05]:
Right? They also you know, you gotta look at the deal. You gotta look at the market. You gotta break it all down. You have to understand how you get your money back. You have to understand When you get paid, you have to understand all of that. And, you know, I don’t think you should do that in just an offering memorandum and a, you know, and an operating agreement. I think you need to have a human being to human being conversation. And Let me explain it to you like you’re a, you know, a 9th grader because that is how you grow, and it’s also how you Make good decisions on the investments that you make.
Jay Conner [00:24:42]:
Absolutely. Speaking of books, I know that you are now launching a new book. Tell everybody about this new book and how they can get it.
Ed Mathews [00:24:55]:
So when I meet with Real estate aspiring real estate investors. I always ask them, you know, hey. Have you gotten started yet? And some of them have. And the ones that haven’t, like, no. I haven’t gotten started yet. And I always ask them the same question, which is, well, what’s stopping you? Help me understand that. Right? I tell people, I live in Connecticut. You know, whenever I’m at a networking event or anything like that, I always tell people, I’m a cheap date.
Ed Mathews [00:25:19]:
I will you know, for the price of a cup of coffee, I will sit down with you for half an hour and shoot the breeze and answer any questions you have, and in most cases, I’ll buy the coffee. Right? So, The 3 problems that I tend to hear are I don’t have enough time. Right? I work 60, or 80 hours a week, or I work multiple jobs. I have family responsibilities. I have this. I have that. I just don’t have time. The second 1 is the one we’re talking about.
Ed Mathews [00:25:47]:
I don’t know where to find the money. Right? And then the third one is I don’t know where to find the deals. I am a marketing person by trade, sales, and marketing, and so That part of it is the part that I’m very comfortable with and I’m pretty good at. Right? And so I wrote a book called the investor’s, deal flow playbook, and there is a trading course that is about to be launched that goes with it. But, you know, the idea is that there are, you know, there is a handful of constituencies that you need to know they need to know, like, and trust you so you can earn the right to do business with Them. And it’s brokers and agents, it’s property owners, it’s wholesalers, it’s property managers, and, and then other investors. Right? And so I, wrote, the first book, the Deal Flow or Investors Deal Flow Playbook specifically for brokers and agents, and then there will be additional books coming out very soon On how to do it with wholesalers, how to do it with property owners, how to do it with, property managers, and then ultimately, you know, your fellow investors. And I’m giving I I like to call them the missile secrets.
Ed Mathews [00:27:07]:
Right? I’m giving you the missile secrets on exactly how Clark Street operates, and how we grow. You know, if you talk to investors these days, they’ll say, there’s no deals out there. That’s not true. You know, we close on 1 or 2 deals a month. We’re not doing huge 200-unit buildings. We’re buying 7 units here, 10 units there, and 15 units over here, but those things add up. And so I, you know, I wanna show everybody, a look under the hood and let them know, here’s how we do it, and it works well. And you can apply it whether you have no budget or you have a big budget.
Ed Mathews [00:27:48]:
There are specific things you can do to get that get those deals flowing. And
Jay Conner [00:27:53]:
so that’s Well, let’s give out that website, that URL, where they can and get the book. And that is the Go Go Tell It.
Ed Mathews [00:28:01]:
So that’s our main website is www.Clarkst.com
Jay Conner [00:28:32]:
Awesome. Well, before I let you go, Ed, answer this question. And that is when it comes to Private Money, how and where do you like to find your private lenders?
Ed Mathews [00:28:44]:
That’s a great question. So, I have a few ways that I do it. 1 is something I call the 3-foot rule, which is if I’m consuming oxygen, within 3 feet of another human being consuming oxygen, I will strike up a conversation with them and talk to them about, You know, what they’re excited about in their world, and, invariably, they ask me what the what I’m excited about. And I tell them, oh, I’m in real estate, and I’m excited about all the things that we’re doing and the good we’re doing. And some people ask questions. Some people go, oh, that’s nice, and change the subject, and that’s fine. But I can’t tell you how many times, and I’ll tell you a story. It’s not my story.
Ed Mathews [00:29:27]:
It’s a friend of mine, Chris, Morin’s story, But he was at a coffee shop in Connecticut, and he was standing in line, and he had a similar conversation with a gentleman that was in front of him. And turns out that the guy that he was talking to was the CEO of one of the area, large insurance companies. Connecticut is the insurance capital of the world, and so all the big all the big insurance players are here. And it just so happened Chris was standing behind one of the CEOs, and that CEO was telling him that he’s been looking for a partner to deploy, a substantial amount of capital into the real estate market, and now that gentleman is one of Chris’s largest investors. And I’ve had similar experiences, not quite that big, but, where, you know, I’ve met people at the pharmacy or people, you know, at the coffee shop or Waiting in line at, you know, an at a basketball game, and a handful of them are now partners of mine, And it’s worked out great. So that’s that’s one way. The other way that I do it is on social media. You know, I, have a pretty large following on LinkedIn and Facebook, and Twitter, and growing on Twitter and YouTube.
Ed Mathews [00:30:48]:
And The, you know, the whole idea there is people will reach out and ask questions, and you know like I said, I’m a cheap date. I’m happy to answer questions. And so we create a, you know, a conversation and start to build a rapport. You know, it’s a very simple 4 step process to build a relationship. And it’s you know, you’ve gotta make them aware that you’re out there. So that’s social media. Right? I’m out there constantly. I’m not talking about, beating my chest and all the things that we’re doing that are wonderful.
Ed Mathews [00:31:22]:
What we’re doing is we’re educating people. We want people to be smarter about the world that we live in real estate. And so people will gravitate towards that content, Learn from it, and then realize, hey. I wanna do this, but I don’t have time. So, Ed, do you know anybody who can help me invest money? And, you know, we are one of those Entities. So that’s when we have a 15 to 20-minute conversation about their goals and what they wanna do. And I figure out, you know, in that time frame, are we a good fit? Right? So you create the knowledge that, hey. I’m out here.
Ed Mathews [00:31:59]:
You build you start building a relationship, and you become friends. I mean, actual friends. Like, I serve them. They serve me. You know? We Keep in touch. We have conversations. We go out for a beer every once in a while. We grab dinner.
Ed Mathews [00:32:12]:
You know, they’re my friends. Right? And, then over time, trust is built, and sometimes that can take a week, and sometimes that can take 3 years, and it doesn’t matter. Right? So as you build your relationships and you earn trust, ultimately, that trust turns into The, opportunity to do business with them. And I leave that 4th step to them. They’ve gotta ask. I don’t I don’t offer unless they’ve said somewhere along the way, hey. I wanna invest with you. And so it happens kinda naturally, and so that’s the way I prefer to do it.
Ed Mathews [00:32:56]:
Like I said earlier, if I feel like I’m persuading somebody, I stop talking. I didn’t that’s just not the way I’m wired.
Jay Conner [00:33:02]:
It’s amazing, Ed, how much our core values, and the way we approach this business, are spot on the same. This was so much fun. I’d love to be on your podcast.
Ed Mathews [00:33:15]:
Count on it. I’m I’m hoping you will.
Jay Conner [00:33:18]:
That’s awesome. And we’ve got a viewer who is asking a question live right now. Sure. If you tell everybody again where you are based and where you live.
Ed Mathews [00:33:28]:
So I live in Central Connecticut, here in the US.
Jay Conner [00:33:31]:
And your projects all in Connecticut or all over?
Ed Mathews [00:33:35]:
Right now, they’re all in Connecticut. We are Looking at deals down in the Carolinas and in the Midwest and Indiana, specifically, haven’t had Anything that pencils quite yet. We make our offers, but sellers are still stuck in 2021, and we’re trying to live in reality here in 2023. But, you know, by and large, you know, our deals, our local you know, our deals that we’re doing every month are here in Connecticut.
Jay Conner [00:34:04]:
Awesome. Ed, what a blessing to have you on the show. Thank you so much, and God bless you.
Ed Mathews [00:34:26]:
Thank you, Jay. It’s wonderful to see you, and, Have a wonderful Thanksgiving and a a very happy holiday. Merry Christmas.
Jay Conner [00:34:33]:
Alright. Thank you so much. Well, there you have it. Another amazing episode of Raising Private Money with Jay Conner. So glad you decided to join us. And be sure and help us out so we can have more amazing guests here on the show. If you’re watching on YouTube, be sure and ring that bell so you don’t miss out on any future notifications of shows coming up. And your favorite podcast form that you are listening to.
Jay Conner [00:34:58]:
Be sure and follow me right now. I’ll see you right here on the next episode of Raising Private Money with Jay Conner.
Narrator [00:35:08]:
Are you feeling inspired by the knowledge you gained in this episode? Then head over to www.JayConner.com/MoneyGuide. That’s www.JayConner.com/MoneyGuide., and download your free guide that shares seven reasons why Private Money will Skyrocket your real estate investing business right now. Again, that’s www.JayConner.com/MoneyGuide to get your free guide. We’ll see you next time on Raising Private Money with Jay Conner.