*** Guest Appearance
Credits to:
https://www.youtube.com/@gatheringthekings
“Private Money Tips in 2024: Secret Framework”
https://www.youtube.com/watch?v=CLUARp0bf6Q
In a recent episode of the Raising Private Money podcast, Chaz Wolfe and Jay Conner delve into the world of private lending, offering invaluable advice for real estate entrepreneurs on how to navigate financing without traditional banks. This conversation highlights essential principles, from developing the right mindset to leveraging networks such as Business Networking International (BNI), which can transform the way you approach your real estate ventures. Here’s a comprehensive look at the key insights from this enlightening episode.
The Formula for Success: E + R = O
Jay Conner introduces a powerful concept that challenges conventional thinking: E + R = O (event + response = outcome). This principle dictates that while events in our lives are often outside our control, our responses to those events are key to shaping our outcomes.
Jay recounts a personal story where his funding line was abruptly cut off by the bank during the 2009 financial crisis. Instead of succumbing to despair, he chose to seek alternative funding solutions. This proactive response led him to discover private money and self-directed IRAs, which played a pivotal role in his continued success in real estate.
Mastering the Mindset of Abundance and Service
One of the major takeaways from the episode is the importance of adopting an abundance mindset and focusing on service. Chaz Wolfe applauds Jay Conner’s emphasis on these aspects, noting how they can transform the approach to private lending and real estate.
Jay underscores that having an abundance mindset—believing there’s plenty of money for good deals—can significantly impact how one interacts with potential lenders. He stresses serving others, reassuring lenders about the safety and high returns on their investments.
Unpacking the Three Tips for Private Money Success
Jay Conner outlines three fundamental tips for utilizing private money effectively:
- Serve and Secure the Right Mindset:
Approach private money with a mindset of service, not desperation. Educate lenders about the benefits and security of their investment without pitching specific deals upfront.
- Establish Control and Make Your Own Rules:
Unlike traditional mortgage applications with stringent requirements, private lending allows you to set the terms and create win-win scenarios.
- Recognize the Benefits of Private Money:
Understand that private money offers limitless availability, no credit checks, quick closings, and fewer fees compared to hard money options.
Leveraging Networks for Private Lending
Networking is a crucial element in private lending. Jay Conner highlights the role of Business Networking International (BNI) and self-directed IRA companies in expanding one’s network of potential lenders. By engaging in these networks, real estate entrepreneurs can present their investment opportunities to individuals already familiar with and confident in the program.
Chaz Wolfe reinforces this idea, noting how BNI’s structured framework facilitates meaningful connections which can lead to securing private funds.
The Art of Making a Good Offer
Jay Conner also discusses the importance of making a compelling offer to mitigate risks and close deals quickly. He introduces a formula for determining the maximum allowable offer, which ensures offers are both attractive to sellers and secure for investors.
He emphasizes the urgency in real estate deals, suggesting that “time kills deals.” Therefore, presenting a strong offer promptly can mean the difference between closing a deal and losing it.
Avoiding Desperation in Sales
One crucial aspect of securing private money is maintaining a professional demeanor without appearing desperate. Chaz Wolfe highlights the significance of simplicity in sales—keeping information straightforward and critical helps maintain credibility and control.
Jay Conner advises against overwhelming potential lenders with excessive details. Instead, a concise and confident presentation of investment opportunities is more effective.
The Influence of Mastermind Groups
Beyond technical strategies, Jay also lauds the benefits of mastermind groups in nurturing personal and business growth. He shares how joining a mastermind group in 2011 provided accountability, new perspectives, and a safe space for sharing, significantly contributing to his success.
Conclusion
The episode with Jay Conner and Chaz Wolfe provides actionable insights for real estate investors seeking to master private lending. By focusing on mindset, strategic networking, clear communication, and leveraging mastermind groups, entrepreneurs can navigate the complexities of real estate financing and capitalize on abundant opportunities. Embracing the formula of E + R = O and approaching lenders with confidence and service-oriented mindsets can unlock transformative potential in the real estate sector.
10 Lessons Discussed this Episode:
- Formula for Success
**Event + Response = Outcome**
Jay Conner emphasizes the importance of taking 100% responsibility for your life’s outcomes. Your response to events shapes your future.
- Creative Financing
**Raising $2.15 Million Easily**
Jay shares his story on how he raised $2.15 million in new funding using private lenders, highlighting the innovative ways to secure finances without directly asking for money.
- Teaching, Not Selling
**Educate to Attract Funds**
Education over sales. By educating potential lenders about earning high returns, you can generate interest without appearing desperate, creating a more attractive proposition for investment.
- Right Mindset
**Confidence is Key**
Jay stresses the importance of having a confident and abundant mindset. Believing in yourself and your offers is crucial for attracting private money in real estate.
- Rules of Private Money
**You Set the Rules**
Unlike traditional loans, private money allows you to set the terms and conditions. It’s a paradigm shift from seeking approval to granting opportunities.
- Benefits of Private Money
**Limitless and Flexible Financing**
Private money brings enormous benefits: limitless availability, quick closings, no credit checks, and no hard money terms or fees. It’s a flexible and powerful financing option.
- Networking Tools
**Expand Your Network with BNI**
Utilize Business Networking International (BNI) to grow your personal network. It’s an effective way to find private lenders and other professionals who can support your real estate ventures.
- Risk Mitigation
**Making Strong Offers**
Mitigate risks by making sound offers. Jay provides a formula to determine the maximum allowable offer, ensuring that deals remain profitable even if things go wrong.
- Win-Win Scenarios
**Everyone Should Benefit**
Jay and Chaz discuss the importance of creating win-win situations in business, personal life, and marriage. Your success should come from mutual benefits.
- The Power of Masterminds
**Synergy and Support**
Joining mastermind groups brings invaluable benefits like building deep relationships, sharing in a safe environment, and holding each other accountable. These elements significantly contribute to long-term success.
Fun facts that were revealed in the episode:
- Jay Conner raised $2,150,000 in new funding for his real estate deals without directly asking for money.
- Jay Conner learned about private money and self-directed IRAs from his friend Jeff Blankenship during a global financial crisis.
- The concept E + R = O (event + response = outcome) was discussed, highlighting the power of one’s response in shaping their life outcomes.
Timestamps:
00:01 Raising Private Money Without Asking For It
04:06 Transition from mobile homes to single-family houses.
08:18 Steve reveals the bank’s closure of the credit line.
10:17 Using private money to fund real estate deals.
15:08 Pitch program to lenders for high returns.
19:23 Simplicity in communication leads to successful outcomes.
21:57 Confidence is crucial for success and partnerships.
24:26 Abundant mindset, serving others, changing lives through investments.
27:44 Private money is vital for limitless business scaling.
31:18 Private money fuels real estate investing success.
37:33 Profit on a deal involves various expenses.
40:56 Urgency and irresistible offers are essential for success.
45:36 The Mastermind principle is integral to success and growth.
50:25 E plus R equals O, taking responsibility.
54:01 Podcast on raising private money for real estate.
Connect With Jay Conner:
Private Money Academy Conference:
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 #RealEstateInvesting #RealEstateInvestingForBeginners #Foreclosures #FlippingHouses #PrivateMoney #RaisingPrivateMoney #JayConner
YouTube Channel
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Creating Win-Win Scenarios in Real Estate with Jay Conner and Chaz Wolfe
Narrator [00:00:01]:
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 [00:00:29]:
This question that I ask myself will help you fix any problem you’ve got in your business, your financial affairs, your relationships, and your health. I don’t care what it is.
Chaz Wolfe [00:00:41]:
What’s up, everybody? Welcome to Gathering the Kings podcast. I am your host, Chaz Wolff. I’m a serial entrepreneur across franchising, construction, real estate, and online education. And my mission in this show is to transfer courage to you, our listeners, by sharing the real and raw stories of success from 7, 8, and even 9 bigger business owners. Today, we are joined by Jay Conner, an expert in private lending and creative financing. Jay has been in real estate for over 20 years, rehabbed over 500 homes, and completed $52,000,000 in transactions. So how has Jay managed to navigate the volatile real estate market and secure consistent success using private money, especially with all the turbulence in the market today? We’re about to find out. In this episode, you’ll learn 3 things, how to get private money without ever asking for it.
Jay Conner [00:01:36]:
I was able to raise $2,150,000 in new funding for my real estate deals without asking anybody for money.
Chaz Wolfe [00:01:44]:
Jay’s top three tips for using private money in real estate deals. You make the rules. They’re not making the rules. And Jay’s formula to mitigate risk using private money.
Jay Conner [00:01:54]:
How you mitigate the risk is the reason 100% of my private lenders have always been paid exactly what they were expecting according to the promissory note.
Chaz Wolfe [00:02:05]:
If you wanna learn how to secure unlimited funding for your real estate deals and leverage private money to achieve financial freedom, you’re in the right place. Stick around. This is one episode you won’t wanna miss. Enjoy the show. Jay, my man. Welcome to the king stage. How are you doing today?
Jay Conner [00:02:23]:
Oh, my lands, Chaz. How in the world am I doing today? Let me tell you how I’m doing. I’m so excited to be here.
Chaz Wolfe [00:02:29]:
That’s that’s fantastic. You’ve been doing this for a long, long time, and you’ve got not only just, some great information, but some real strategies that work. You’ve been doing real estate for over 20 years. How did you get started in real estate?
Jay Conner [00:02:41]:
I was born into real estate. I grew up with my dad in the real estate business. He was the largest at one time. He was the largest retailer. His company was the largest retailer of mobile homes, and manufactured housing in the nation. Wow. And so I grew up around my dad and his company, helping people own a home in the affordable housing industry. And so in the early 2000, the financing for that product, unfortunately, went away and fell out of favor with Wall Street.
Jay Conner [00:03:17]:
Well, I knew if I ever got out of mobile homes and manufactured housing, people used to call them wobbly boxes. If I ever got out of that business, I wanted to get into single family houses, and here’s why. And this was way before the HGTV days. Right? And all the, you know, sexy shows of flipping houses. I wanted to get into single family houses because way back in the 19 nineties, I was selling single wide mobile homes trying to make a $3,000 profit. And good friends of mine and Carol Joy, she’s my wife of 37 years, good friends of ours in Newbern, North Carolina, flipped a house and made $30,000 in less than 90 days back in 1993. And I said, wait a minute. 30,000 versus 3,000? I like 30,000 better than 3,000.
Jay Conner [00:04:06]:
If I ever get out of mobile homes, I’m getting into single family houses. So that’s what I did. So in 2003, my wife, Carol Joy, and I embarked on this very exciting journey. We bought our very first house by using an unsecured unsecured line of credit at the local bank and how you could get that back in 2003 if you had a decent credit score. So we had a $250,000 unsecured line of credit and, burning a hole in my pocket. And so one mistake I made in this business is I didn’t get the right training or education. I just relied on my experience from the mobile home days, which was not a very, very smart decision. Nonetheless, I read in one of those books on how to flip houses back then that look for the nastiest smelling house you can in the multiple listing service.
Jay Conner [00:04:59]:
I found it here in Morehead City. It had been on the market for, 9 months over 60 showings. No offers. I said that sounds like my house. So I took that $250,000 unsecured line of credit, and I bought it for $50,000. I put $50,000 worth of rehab in it, so I had $100,000 in it. Well, it was so bad when I bought it. My wife, Carol Joy, wouldn’t even get out of the car and look at it.
Jay Conner [00:05:26]:
My dad did get out of the car and look at it. He told me I had lost my mind. So, anyway, I rehabbed it. But what are you supposed to do when you’re selling a house? You list it with your realtor. Right? That’s what I did in January of 2004. I listed it from my realtor for 1499. It sat on the market, Chas, for 45 days with 0 showings. I said, well, baloney on that, I’ll sell this thing myself.
Jay Conner [00:05:52]:
So I put an ad in the local paper. This is used when you have classified ads. Chaz, I know you don’t remember that either. That was before the Internet. So, anyway, I put an ad in the classified section with owner financing for this house. Well, my phone blew up. I had to cancel the ad after 2 issues. One of the first guys I talked to on the phone, his name is Linwood, Earl Linwood.
Jay Conner [00:06:16]:
He met me at the gas station. He followed me in. We pulled into the driveway. I had it beautifully staged, absolutely gorgeous. He walked in. He came back. He said, Jay, I’ll give you an 18 $1,000 nonrefundable lease option deposit right now. My problem was I didn’t know what a lease option deposit was.
Jay Conner [00:06:34]:
But my dad had told me if somebody offers you money, you take it and you’ll figure it out. So I said, Lynn, would you write me that $18,000 check? We’ll put this deal together. Well, luckily, I was still an active mortgage broker back in those days. And if you had a mid-score credit score of 580, I could get you done and cook you in the oven and get you a mortgage. And so he had a 583 credit score. So I cashed him out on that first house, really not knowing what I was doing, and profited $40,000 less realtor fees. I said, well, this is better than 3,000, so I like this business. So that’s how I got in the business, and that’s how I did the business the 1st 6 years.
Jay Conner [00:07:16]:
From 2003 to 2009, I relied on the local bank. That’s all I knew to do to fund my deals. But then something happened in January 2009 that changed everything.
Chaz Wolfe [00:07:31]:
Yeah. It was, just just a little blip in the real estate map. Right? The mechanics of what you were just saying are are are known. Right? Like, there’s I’ve I’ve interviewed hundreds of flippers, and and that’s cool. Like, you did a great job. Good for you. But in 2009, this sticky got you thinking differently. Tell us.
Jay Conner [00:07:51]:
Yeah. I remember it like it was yesterday, Chaz. January 2009, I had 2 houses under contract. Bear in mind, I have been using the same bank and the same banker for 6 years funding all my deals. Fantastic relationship. I called him up. His name was Steve. I called up Steve, and I told him about these 2 houses that I had under contract.
Jay Conner [00:08:18]:
I told him where they were located, the funding required, same song and dance that Steve and I had had many, many times for 6 years. Steve cleared his throat and said, Jay, I’m sorry to tell you, but the bank has closed your line of credit. And I don’t know if you ever heard somebody say something to you and you didn’t quite understand that they said it, and secondly, you wish you hadn’t heard what they had said. I said, Steve, what do you mean the bank has shut down my line of credit? He said, Jay, don’t you know there’s a global financial crisis going on right now? I said, no. But now you have just given me a global financial crisis because I can’t fund my two deals. So I hung up the phone, today as I asked myself a question that I’m gonna share with your audience right now. This question that I asked myself will help you fix any problem you’ve got in your business, your financial affairs, your relationships, and your health. I don’t care what it is.
Jay Conner [00:09:24]:
And here’s the question I ask myself after hanging up the phone with my banker. I said, Jay, who do you know that can help you with your problem? Who do you know that can help you with your problem? And by the way, Chaz, these people going around saying every problem’s an opportunity. I wanna throw up. I didn’t have an opportunity. I had a problem. I got these deals under contract, and I can’t fund them. Let’s face reality. This is a problem.
Jay Conner [00:09:51]:
Well, you know, it’s not it’s not how it’s who. It’s not how it’s who. So immediately, I thought of my good friend, Jeff Blankenship, who lived in Greensboro, North Carolina at the time. And he was he was investing. He was flipping houses in Greensboro, North Carolina. I called him up, and I told him what had just happened with my conversation with Steve. He said, well, Jay, welcome to the club. I said, what club? He said, the club of losing your line of credit at the bank.
Jay Conner [00:10:17]:
They just cut me off last week. I said, well, Jeff, how are you gonna fund your deals with no bank, with no line of credit? He says, well, have you ever heard of private money? I said, no. He said, have you ever heard of self-directed IRAs and how individuals can use their retirement accounts to loan that money out to real estate investors and earn unlimited money per year, either tax-deferred or tax-free? I said, no. He said, well, let me tell you about it and you need to learn about it quickly. So I did. I studied private money, what it is, how you can get it fast, and how you can raise it without ever asking for money. Did you know, Traz, ever since January 2009, I’ve never asked anybody for money or to fund my deals? How in the world have I got 8 and a half $1,000,000 in private money available, and I get all my deals funded without ever pitching a deal? I’ll answer that in just a second. So I studied private money.
Jay Conner [00:11:15]:
You know what I did, Chaz? Here’s what I did. I put on my teacher hat. I put on my teacher hat, my private money teacher hat, and I started teaching people, leading with education, teaching people in my local market here, my network, people that I go to church with, people that’s in my cell phone, people that I love to go boating with. I just started sharing with people how they can earn high rates of return safely and securely without mentioning any deals. I’m just talking about the program. I’m talking about the opportunity, and how they can learn to earn high rates of return safely and securely with very, very minimal risk. And so in less than 90 days, with me just leading with education, I’ve been I put on a private lender luncheon. I invited 20 people to the luncheon, friends of ours, and I raised $969,000 just at that 1 90-minute luncheon by just sharing how they can earn high rates of return, save it, and securely it.
Jay Conner [00:12:19]:
So I was able to raise $2,150,000 in new funding for my real estate deals without asking anybody for money. You know, the traditional way to raise money is you go to your local banker, you get on your hands and knees, you raise your skirt up for them to look at your assets and your financial statement and show all of the, you know, your personal stuff you got going on. And then you’re saying, please fund my deal. You know, please fund my deal. But you know what? That’s the traditional way. There are applications. There are two. There are credit scores.
Jay Conner [00:12:50]:
None of that applies in this world in this world of private money. Because you see, we’re not asking for mortgages. We’re offering a mortgage to people who have never seen this kind of opportunity. You know, this side of COVID, I’ve had more money chasing me. I’ve never had to chase the money. So that’s what you do. You lead with education. You show them how it works, and now the money is chasing you.
Chaz Wolfe [00:13:18]:
Love it. And then the opportunity here I loved how you kinda separated the 2 here. It was I’m not asking. I’m educating, and I’m letting people know this is what’s possible Because you’re right. Most people think when you think of even today, I think experienced real estate folks think of raising money. It’s just calling mom and dad or friends and family and saying, what cash do you have? And I didn’t even hear you say that. I heard you say reaching into a little bit more of a specific bank, if you will, with these self-directed IRAs. I know that’s part of your solution here.
Chaz Wolfe [00:13:51]:
Do you wanna give a little bit more on the details? And we’re gonna get you wrote a book on this and, you know, you got all kinds of, you know, tactics. Sure. Well, you
Jay Conner [00:13:58]:
know, one popular question that I get is, well, Jay, I still don’t understand how you get the money without asking for it. So here’s the magic sauce. We separate the conversations between teaching the program and then having a deal for your private lender or your private lenders to fund. You see, desperation has got a smell to it.
Chaz Wolfe [00:14:23]:
That’s right.
Jay Conner [00:14:24]:
Even if you’re not trying to sound or look desperate, desperation’s gotta smell. So let me let me explain here in a few seconds how you, as a real estate investor that’s wanting to borrow money, and raise money for your deals, smell desperate without even intent intending to smell desperate. If you are sharing your program, here’s the interest rate I pay to my private lenders. Here’s how they can get their money back in case of an emergency. Here’s the maximum loan to value, etcetera. And in that same conversation, you talk about a deal that you’re looking for funding, you’re desperate. Without you even saying a word, you’re saying, hey. Here’s my program.
Jay Conner [00:15:08]:
Please fund my deal. It’s really what you’re saying. So what do we do? We teach the program to a potential private lender or lender. I don’t even have to ask them if they’re interested. It only takes 20 minutes, 15 minutes to walk through, you know, how the program works, how they can get higher rates of return safely and securely, and then I shut up. Well, they’re gonna tell me how much they’ve got if they’ve got investment capital, 150,000, 500,000, whatever. Or if they’ve got retirement funds and they’re not happy with it being volatile and then maybe it’s in the stock market or whatever. Well, then I’ll introduce them to the self-directed IRA company that I recommend because they’ve got fantastic customer service.
Jay Conner [00:15:50]:
So let’s say they moved their money or part of their retirement funds over to the self-directed IRA company. So they’ve moved it over there. Well, guess what? They’re not making any money until you put their money to work. They’ve moved it over to your recommendation. So how do I get all my deals funded without ever pitching a deal? There’s a good question. How do I get all these deals funded and never pitch a deal? Well, here’s the answer. The answer is I call them up with the good news phone call. Well, here’s the good news phone call.
Jay Conner [00:16:26]:
Chaz, let’s say you’re one of my private lenders or maybe you’re one of my new private lenders, and let’s say you’ve you wanna start with a 150,000. By the way, new private lenders always have more money than they tell you. So let’s say you wanna start with 150,000. So I say, Chaz, I’m gonna put your money to work for you just as soon as possible. You’ll probably hear from me within the next couple of weeks or so. So I call you up. You and I have a little chitchat. I say, Chaz, and here’s the script, folks.
Jay Conner [00:16:56]:
Here’s the script as to how to get your deal funded without pitching the deal. You see, Chaz already knows the program. He already knows what interest rate I’m gonna pay. He already knows my maximum loan-to-value, which, by the way, is 75% of the after-repaired value, not 75% of the purchase price. Very big difference. Anyway, he knows the program. He knows I’m not gonna call him up with a deal that doesn’t match the criteria of the program that I’ve already taught him. So I called up Chaz.
Jay Conner [00:17:25]:
We have a little chit-chat. Here’s the script. Chas, I’ve got great news for you. I can now put your money to work. I’ve got a house under contract in Newport with an after-repaired value of $200,000. Now the funding required is 150,000 for the deal. Closing is gonna be next Friday. So, Chaz, you’ll need to wire your funds to my real estate attorney’s trust account by next Thursday, and I’m gonna have my real estate attorney email you the wiring instructions.
Jay Conner [00:17:56]:
End of conversation. First of all, if I had asked Chaz, does he want to fund the deal? That’s the most stupid question in the world I could ask him. Of course, Chaz wants to fund the deal, particularly if he’s moved his money over to the self-directed IRA company. He’s waiting for me. I’m ethically bound to put Chaz’s money to work because he’s moved the money over in anticipation of me putting his money to work. So I need to perform. Right? I need to have Chaz fund the deal. So, again, the magic is to educate and teach.
Jay Conner [00:18:34]:
They give a verbal pledge. Here’s how much they got to work with. Now I call them with a good news phone call and done deal.
Chaz Wolfe [00:18:41]:
I love the simplicity, and I’ve taught sales for so long now, and it never goes as a point that can never be over that it’s overstated. I’ll say it again and again and again, which is what you just did you used words in a particular way to make it make sense. You didn’t overcomplicate. I say things all the time like a confused mind can’t buy. Like the listener right now is following this makes sense. Of course. But I don’t wanna move on too fast because thousands of sales reps. I’m sure you’ve seen thousands of real estate, professionals who overcomplicate the process or the deal, and that’s actually when most things kinda spiral down.
Chaz Wolfe [00:19:23]:
Is that everything in the process going well, and then you complicate it, and a confused mind doesn’t buy, or there can be no agreement where there’s disagreement? And so if you can just keep it simple, not the onto the way of of keeping information, I think that’s probably where a lot of people in their integrity feel like, well, no. I have to explain everything. It’s like, well, actually, the investor is, like you said, relying on you to be the expert or, you know, in the case of a sales process, you know, the prospect is relying on you to be the expert. And so now they don’t have to know every single nuance of the deal or the product. They need to know the important things that are, that are for them. And then we gotta get their money to work. That’s that’s the main point.
Chaz Wolfe [00:20:03]:
We gotta gotta make them some money. Gotta perform.
Jay Conner [00:20:06]:
That’s it. You know what you just said reminds me of this. Sometimes people will say, well well, Jay, when someone is starting out raising private money, what’s a common mistake they make? I can tell you what the common mistake is. They talk too much. They talk too much. It’s like yeah. Look. You’re not selling anybody on anything.
Jay Conner [00:20:25]:
You’re not trying to persuade them. You’re not trying to talk them in anything. You’re just you’re just sharing information that you have that they do not have. Right? Most people walking around, even financial advisors walking around, never heard of us of a crew self-directed IRA. What in the world is that? What in the world is a third-party custodian approved by the IRS that allows people to invest their retirement funds truly self-directed? So you’ve got information that other people don’t have. Keep it simple in terms that they can understand and use in terms that they do understand.
Chaz Wolfe [00:21:04]:
Yeah. Yeah. I think that all of that is super good. Let’s let’s just kinda roll in. I mean, you’re you’re giving us so much already. I mean, the book that you wrote about this is called Where to get the money. Now you’ve got, you’ve got a lot of success around that book. So congratulations on that, but inside of that, you give all kinds of tips, but I want your top three top three tips
Chaz Wolfe [00:21:22]:
for using private money. You kind of gave us, the script on how to get it, but how do we use it? Top three tips.
Chaz Wolfe [00:21:25]:
Script on how to get it, but how do we use it? Top three tips.
Jay Conner [00:21:29]:
Top three tips on using private money. So first of all, number one tip. Number 1. It’s gonna be very hard for you to own real estate using private money until you own the real estate between your ears. Now, what in the world do I mean by that? Because this is a 90% head-head game. This is a 90%. I mean, I guess that’s true in pretty much any kind of business that you’re in. But
Chaz Wolfe [00:21:56]:
I agree.
Jay Conner [00:21:57]:
You got you gotta be confident. If you don’t believe in yourself, nobody else is going to. Who’s gonna loan you money if you’re not confident about what you’re offering people? Who’s gonna loan you money about you being confident as to the offers that you’re making on deals? If you’re not confident, then how do we get that fixed? Will you join hips with somebody who knows what they’re talking about and has been through the mines, whether that’s somebody locally or whatever, your mindset is that when you’re talking with someone about private money, how they can make high rates of return safely and securely about this opportunity. I want you to picture in your mind you got one foot out the back door getting ready to leave. Because whenever you feel like you’re selling, stop. Stop.
Chaz Wolfe [00:22:53]:
Both Peter in.
Jay Conner [00:22:55]:
Stop. In other words, when you feel like you’re pushing or you’re trying to convince somebody of something, wrong approach. Wrong approach. You are confident. You are offering something that’s gonna be for the betterment of them. It’s gonna be a win win win scenario. And here’s another part of your mindset. Realize that they need you more than you need them.
Jay Conner [00:23:20]:
And here’s why. That’s not an arrogant statement. It’s a fact. Here’s why. There’s more money available than there are deals. How do I know that? Before COVID, there was $18,000,000,000,000 in cash. Before COVID, in cash sitting on the sidelines here in the US of people not knowing what to do with their money. Today, $31,000,000,000,000 in cash sitting on the sidelines either in cash and when I say cash cash, I mean I don’t mean cash.
Jay Conner [00:23:56]:
I mean investment capital sitting in a checkbook. Or retirement funds just sitting there. They don’t know what they don’t know what to do with it. Right? The stock market is so volatile. So there’s just so much of it all around you. What’s another part of your mindset? Abundance, not scarcity. If you have a mindset that there’s not enough to go around, we gotta get that fixed. There’s more than enough to go around.
Jay Conner [00:24:26]:
So the abundant mindset, there’s plenty to go around, there’s more money than you can ever use, you’re serving, you’re leading with a servant’s heart. Hey, Carol Joy and I have received so many handwritten notes and in-person thank yous from our private lenders over the years saying we have changed their retirement years. I’ve got one couple. By the way, these private lenders are everywhere. I mean, we have one couple who are both retired teachers from the public school system. And guess what? We have helped them grow their investment capital to over $1,000,000. They have over $1,000,000 that they now are using to loan back to us and fund their deals. And they’re saying, you know, without your program, we wouldn’t have been able to enjoy our retirement years the way we have.
Jay Conner [00:25:18]:
So that’s the number one tip. We wanna get the mindset right that we are out here serving people.
Chaz Wolfe [00:25:25]:
Now you’ve got 2 more, but give me just a couple of attaboys towards you on this because, I mean, it’s so cliche. Right? Business mindset, take care of the real estate between your ears. But I just wanna, like, echo for the listener. Just like, hey. Wait a second. Don’t move too fast. Listener, Jay is giving you the map, like, literally the map. We’re not talking about private money right now.
Chaz Wolfe [00:25:48]:
We’re talking about your mind and abundance and your knowing or believing that things can be a different way than they are currently right now for you. And so I just want to not only encourage the listener but to thank you for being so real with tip number 1. I know you’re going to come hot and heavy with tip 2 or 3 here, but tip number 1, if that was all that you gave, they’re ready to roll. I’m ready to roll. I’m inspired. Alright. Give us 2.
Jay Conner [00:26:15]:
So tip number 2, and this is a distant cousin to tip number 1, but it’s a specific. Tip number 2, you are not applying for a mortgage. You’re not applying for a mortgage. In words, this is 100 I mean, the strategies, and the steps are 180 degrees opposite directions of borrowing money traditionally. You borrow money traditionally, they make the rules. The lender’s making the rules. And you see, this is this is a challenge for some new real estate investors or people that are first gonna be attracting private money is to get out of your mind that you are asking, that you are applying, that you are having to think through this traditional way of borrowing money, and this could be no more opposite than traditional. You’re not applying.
Jay Conner [00:27:21]:
You’re not playing by their rules. You know, you grew up thinking, well, whoever the lender is makes the rules. They set the the lender sets the interest rate. The lender sets the frequency of payments. The lender sets the length of the note, etcetera. Not the case here. The lender is not making the rules. So number 1 tip, we wanna get the mindset right.
Jay Conner [00:27:44]:
The number 2 distant cousin to that is you’re not applying. You make the rules. They’re not making the rules. And number 3 tip is to understand why you need private money. Some people going around are going to say, well, why why do I why do I need private money? Well, let me tell you why you want private money if you don’t know you want it yet. Let me give you a few reasons why you want private money. Number 1, there’s no limit to the amount of private money you can have available to you. You can scale your business to anywhere you want to go.
Jay Conner [00:28:20]:
When I was borrowing money from the banks, I had a limit. I had a $1,000,000 line of credit. That was it. When I used that line of credit, I had to pass on deals. Unless I was buying on terms subject to the existing note or whatever, I had to pass up on those deals. Well, guess what? No limit. I got 8 and a half $1,000,000 now and just moving from project to project. So there’s no limit to the amount of money you can get as opposed to traditional.
Jay Conner [00:28:49]:
Number 2 big tip, why do you want private money? There’s no limit to the number of private lenders you can do business with. Why is that? Because we’re not regulated by the commissioner of banks. We can do business we’re individuals. We’re doing business individual to individual. So no limit. Number 3, no credit score. No credit check. Your credit has absolutely nothing to do with how much private money you can get, and that’s because all the notes are collateral-based, so the private lenders are loaning you money not based on your credit, but based on the collateral that’s back in that note.
Jay Conner [00:29:28]:
I mean the list just goes on and on. There are no appraisals. You know, my lands. How often have you been shackled by an appraiser as far as, you know, what’s going to happen? Well and delays. So there are no appraisals. We simply use comparative market analysis. And there’s another reason you want private money. All my offers on deals that I offer to buy a property, I offer to close in 7 days, and as a result, I get more offers accepted because I can close quickly.
Jay Conner [00:30:00]:
You can’t close in 7 days if you’re using commercial money. They’re gonna order an appraisal. I mean, maybe if you have a good relationship, maybe you could close in 3 weeks. Maybe with a hard money lender. And another thing you wanna understand is this world has got nothing to do with hard money. This is not hard money. Hard money is typically a broker of private money that has raised private money for their fund, and now they’re gonna loan it out to you at a higher interest rate with points, etcetera. There’s another reason you want private money.
Jay Conner [00:30:34]:
There are no origination fees. There are no points.
Chaz Wolfe [00:30:37]:
Skip over the middleman.
Jay Conner [00:30:39]:
You know? I mean, it’s just a straight I’ve been paying the same interest rate since 2009 when I started, and that’s 8%. It doesn’t matter what the market does. The market can go up. I’m talking about interest rates. The market can go down. And so, you know, I, one question I get recently in this market, Chaz, I say, Jay, how in the world are you still paying your private lenders the same thing you were paying them before COVID? I said, well, there’s 2 big reasons. Number 1, I make the rules. Number 2, 8% is still a whole lot more than 4% or 4 a half percent that you can get in a 12-month CD and is backed by real estate.
Jay Conner [00:31:18]:
I’m telling you, I’m telling you, if I’m lying, I’m dying. Private money will skyrocket your real estate investing business because at the end of the day, what are the 2 what are the 2 questions all of us have? How do you find the deals and where do I get the money? I got the money I got the money answer for you. There are 3 categories as to where you find private lenders. You might wanna write these down if you’re not driving. The first category of finding private lenders is your own warm market and connections. The second category is what I call your expanded warm market. I say the more money you wallow in, the more money sticks to you. And some people say, well, my network is broken.
Jay Conner [00:32:01]:
I don’t have a very good network. Well, you need to fix that because there’s a direct correlation as we all know between your network and your net worth, of course. So expand your network. Well, how do you expand your network? I can tell you how to expand your network overnight at a place where I’ve gotten 1,000,000 of dollars in private money. You wanna know where that is? Here it is.
Chaz Wolfe [00:32:23]:
We do. Www.bni.com,
Jay Conner [00:32:28]:
Business Networking International. Business Networking International is an organization, if you’re not familiar with it, to where you join and, you know, Morehead City where I live has only got 8,000 people. Even we have a BNI. Right? So the purpose of BNI is not social. It’s not civic group and fundraising. You are in Business Networking International to give each other leads in your group. So if there are 20 people in your group, like here in Morehead City, then I’ve got 19 other people that are endorsing me and promoting me and referring people to me that want a high rate of return safely and securely. Well, in that group, there’s one realtor.
Jay Conner [00:33:12]:
There’s one real estate attorney. There’s one general contractor. There’s one plumber. There’s one HVAC. And so we are endorsing each other. So just through the endorsement of Business Networking International, I’ve had 1,000,000 of dollars referred to me just from BNI. That’s a quick way right there to grow your network very, very quickly. The 3rd category of private lenders is existing private lenders.
Jay Conner [00:33:41]:
These are individuals that already know the game. They are already lending money out to other real estate to real estate investors. Where do you find those people? Well, self-directed IRA companies, third-party custodians. Did you know over 70% of account holders at self-directed IRA companies want to loan money secured by real estate? They want to be a passive investor and just get the returns. So, self-directed IRA companies have regular networking events on Zoom, and you can go there and network, and you don’t even happen to have an account. You can network with existing private lenders. But here’s the catch.
Jay Conner [00:34:25]:
When you’re networking with an existing private lender, you’re not putting on your teacher hat. They already know what private money is because they’re already loaning it out. So now you don’t get to make the rules. Now it’s a negotiation conversation, and I’d rather not negotiate. I’d rather make the rules. But that’s where you can get private money.
Chaz Wolfe [00:34:50]:
Hey, kings and queens. Chaz Wolfe. I wanna talk to you about something super important to me. We put a lot of time and effort, meaning myself and my team, into this podcast, and into the content that goes out every single day. And if you have been getting any sort of value or insight from this, we wanted to be able to reach other business owners too. So we would love it if you would like, comment, share, leave a review, post, and share again, all of the things on social media, on all the different platforms, or even on the podcast mediums of Apple and Spotify. We would love to be able to get our content into more hands, and more entrepreneurs so they can grow their business as quickly as possible. Together, we are building a community of like-minded entrepreneurs who are committed to growing their businesses to new heights.
Chaz Wolfe [00:35:34]:
So let’s do this. Let’s help each other grow. What happens though when a deal’s gone wrong? What’s the sticky? What’s the black eye? What’s the, oh, the I wish this had never happened, but it did. What was that moment?
Jay Conner [00:35:46]:
Well, let me share a revelation. Every deal goes wrong. Every deal goes wrong. Truth. Every deal goes wrong. What do I mean by every deal goes wrong? Well, when you’re rehabbing and renovating, have you ever had a rehab or renovation budget come in on budget? Of course, you have. I’ve rehabbed over 500 houses, in our little teeny tiny area here of only 40,000 people. I’ve never had one come on budget.
Jay Conner [00:36:16]:
So what, how do you mitigate that risk? How do you mitigate the risk? Here’s how you mitigate the risk. And by the way, what I’m getting ready to tell you on how you mitigate the risk is the reason 100% of my private lenders have always been paid exactly what they were expecting according to the promissory note. So how did that happen whenever I have had a deal come in on budget? Here’s the answer. The answer and the mitigation of risk is not in estimating repairs exactly perfectly. The mitigation of risk is in your offer. The mitigation of risk is in your offer. So one mistake that new real estate investors make is they pay too much. You’re paying too much for the property.
Jay Conner [00:37:07]:
You’re emotionally involved, particularly in that first deal. You’re dying to get that first field deal, and you pay too much. And I’ll tell you what, HGTV has ruined a lot of people when it comes to real estate investing. Because first of all, by the way, I love watching HGTV. Nothing against them. I love the shows. But the only thing about reality TV is there’s nothing real about reality TV. Right? It’s a show.
Jay Conner [00:37:33]:
And so, like, you know, so when they’re showing like the profits let me tell you the profit on a deal is not what you sell it for minus repairs minus what you paid for it. That is not the profit of a deal. There’s this thing called realtor fees and carrying costs and private lender fees and closing costs and insurance and taxes and utilities and cutting the grass and on and on and on. So what I’m saying is, how do you mitigate the risk? Well, let me give you the formula. Let’s just don’t talk seminar jargon. Let me give you the formula. Here’s my formula for when I pay, what I pay for cash on a house when I’m using private money. I take the after-repaired value.
Jay Conner [00:38:18]:
So my realtor gives me all these values. He knows that I’m gonna turn this home into a home that’s ready for Southern Living Magazine pictures when I finish the rehab on it. So he knows what the ARV is. He’s gonna use comparable sales of other homes in the area that have been renovated to the hilt. So we take the arb. If the after-repaired value is over $300,000 I multiply it by 80%. If you’re in California, you’re gonna be multiplying times 80% because you can’t even get an outhouse for 200,000. So anyway, when the after-repaired value is over 300,000, I multiply it times 80%.
Jay Conner [00:38:57]:
If the after-repaired value is less than 300,000, I multiply it times 70%. I then take that figure. I subtract the estimated repairs on the property. That’s going to give me a figure known as the maximum allowable offer, but don’t offer that all cash. You gotta give yourself some hedge room. So if it’s less than $300,000 on the after-repaired value, I then subtract another $10,000 for the unexpected. Now that’s the maximum I’m gonna pay. If it’s over $300,000 after paired value, I’m gonna subtract an extra $20,000 for what I will is the maximum that I’m gonna pay.
Jay Conner [00:39:39]:
One way I get a lot of offers accepted besides saying I can close in 7 days, which I can with private money. But a lot of times people don’t have anywhere to go. They wanna sell, but they don’t have anywhere to go. And they say, well, we’re not ready to sell yet. Well, here’s another rider downer. Time kills deals. Time kills deals. The more time that goes by, the less likely you’re going to do a deal.
Jay Conner [00:40:01]:
I want to close now. I want to close right now. So I say, look, we can close next week and and the problems will be mine. The taxes are gone. The insurance is gone. You got no more mortgage payments if you had a mortgage. And I will let you live in the home for free, rent-free for whatever time we we both agree is reasonable. I get a ton of my offers accepted because, oh, they don’t get all the cash, by the way.
Jay Conner [00:40:30]:
They get half of their cash at closing and they get the other half of their cash when they’ve moved out. But close that baby now because time kills deals.
Chaz Wolfe [00:40:42]:
That mantra so long ago in sales is what led to what you talked about earlier, having a stench or or commission breath is what we call it in sales, but it’s this desperation. And so I want to close now, which makes me like like, hurry up, hurry up, hurry up, hurry up.
Chaz Wolfe [00:40:56]:
And it automatically puts us into desperation where it’s like, well, actually, no. That foot out the door of philosophy that you talked about is, hey, look, I’ll offer you an amazing deal so much so that’s where I want to close right now. Otherwise, I’m going to go to your neighbor or whatever the scenario is, you know? Exactly. Make the offer something that they can’t say no to. So okay. So you’re building it into a formula to make sure that when things go wrong, which is I love how you said every single deal, it’s I think it I don’t know how many deals I got in before the frustration of what you just described became just like, oh, this is just how it goes. Got it. I’m kind of an exact guy.
Chaz Wolfe [00:41:40]:
Like, you know, before we hit the record button, you were you were commenting on our process here. And, you know, even the thing that we mailed you as a podcast guest, and I like the details. I like I like I like knowing exactly. And it’s just it’s just rounded in real estate. And I love how your philosophy isn’t just you as the investor are winning. The person that you’re buying from is winning because of the cool things that you’ll be able to do close fast and get in, allowing them to stay in the house. The investor is winning. Because they’re probably not making the same amount of return as they would with your deal.
Chaz Wolfe [00:42:15]:
And, of course, you get to get in and get out and do the thing and make your money as well. So this is a true win-win win like you said.
Jay Conner [00:42:22]:
My dad, Wallace Connor, that I told you about when we started out, he told me years ago, he says, Jay, if everybody isn’t winning and everybody’s got at least a little bit of meat left on the bone, don’t do the deal. Everybody’s gotta win.
Chaz Wolfe [00:42:39]:
Yeah. I think that that that that goes into life in so many different ways. Right? Like, I mean, I was just in a coaching session. 1 our one of the benefits of being part of the Gather the Kings community, we say we’re winning in all areas. And so we talk about business, we talk about investing, of course, all those things. But we have a monthly marriage call where entrepreneurs and their spouses come to the call. We bring in marriage coaches and we get to all work on our marriages together. And inside of that environment, we were talking about creating win-win wins.
Chaz Wolfe [00:43:08]:
And even between the husband and wife, it’s like, man, how many times have I unknowingly proposition something, whether it be for my family or for my wife? And she says yes, knowing that, like, she was trying to, like, honor me or do it for me, but it’s not a win-win. And so it doesn’t work long term. Right?
Jay Conner [00:43:28]:
I love that. I just love it in that you just shared in your mastermind or your mastermind calls or whatever it is that you those marriage calls. Because the reason that impresses me so much is that business is not a 1-dimensional or 2-dimensional aspect of our lives.
Chaz Wolfe [00:43:53]:
Right.
Jay Conner [00:43:53]:
Our business affects everything else in our lives. Our personal life affects as our business. Our spiritual life, whether you view yourself as a spiritual person or not, affects your life. It’s all intertwined. And if one part of your life your health your health is all intertwined here, your sleep, all that. And if it’s and if there is a if there’s a spoke in that wheel that’s not performing the way it is intended, it’s going to affect everything else. So if your marriage is screwed up, don’t you think that might have an effect on your business as well? So I love that, Chaz. I love that that you’ve got that as a component for your mastermind members.
Chaz Wolfe [00:44:40]:
Yeah. I appreciate that, Jay, because you’re right. It does matter. And all of the elements is kinda funny. It’s almost like you were you had my website up and you were going through what we call the 5 dimensions of kingship because all of what you just said is is basically there. And you’re right. We even use a wheel-type tool for our members to be able to grade themselves. And so inside of that mindset, it’s the mastermind principle.
Chaz Wolfe [00:45:02]:
And so I’m kinda leaving this to one of my next questions for you here, but the mastermind principle defined by Napoleon Hill and Think and Grow Rich chapter 10 is 2 or more minds working together in harmony to achieve something definite. And so for us in the group, that’s living an exceptional life. And so to live an exceptional life, you have to win in all areas. And so we help each other do that via a lot of the things that you just mentioned, which is which is great. But inside of private money, inside of real estate, inside of your marriage, how have you used the mastermind principle to be successful and be where you are today?
Jay Conner [00:45:36]:
The mastermind principle has been such an integral part of my and Carol Joy’s success on multiple fronts. First of all, the very first mastermind group that Carol Joy and I joined was back in 2011. 2011. I’d never really heard of mastermind groups before 2011. But, of course, Napoleon Hill has been talking about them since the early 1900s. What I learned about becoming a member of the mastermind group of working with like-minded people, there are so many benefits. One huge benefit, in addition to getting the results for the reason we joined, and that is to help us grow our business, is I forged Carol Joy and I, we have relationships with people that we did not know before mastermind, and we’re still best of friends with those people. I tell you another big benefit of being in masterminds is we have this thing that we enjoy that we call safe space.
Jay Conner [00:46:45]:
And in this safe space, we’re able to share confidential information. We’re all under nondisclosure and we’re able to, share information that we don’t even tell our blood relatives about ourselves. I mean, the question is, where can you go? Where can you go? And, you know, we all walk around with filters on our faces. All of us walk around with filters. Where can you go and take your filter off and share what’s going on inside your heart? Because your fellow Mastermind members, you know, Masterminding is just as much about giving as it is receiving. And in my opinion, it’s a whole lot more about sowing than it is about reaping. It’s all about sowing. It’s not about reaping because, you know, I can’t reap anything really until I plant something first, give value first, and share with my fellow mastermind members.
Jay Conner [00:47:43]:
And, in addition to that, I love being in my masterminds and the mastermind that I run and etcetera. What a wonderful way to hold each other accountable and you can count on your fellow mastermind members by telling you the truth. There’s not many people walking around out there that’s gonna tell you exactly what the truth is. And, yeah, we know who said the truth to set you free and it does.
Chaz Wolfe [00:48:08]:
Yeah. I agree. I was it’s making me laugh because I had a conversation with a guy just yesterday. And it was around just some busyness that he’s got and, you know, he was making some excuses. Was what it was. And I just let him know that he was making excuses. Yeah. And I just appreciated him for his willingness and his desire to share and his, you know, his really what he underneath the excuses, it’s he wanted to win, but he was he the way that he was going about it wasn’t working for him.
Chaz Wolfe [00:48:40]:
And so what was coming out was excuses. And what I have found even in my journey, very much similar to what you just said is if we don’t have other people around us, even on a call like this where I’m being provoked to a different thought, like from you, if we don’t have those different, you know, ways of changing our perception, then then we’re always gonna do the same thing. And if the same thing isn’t working, then guess what? You’re just gonna always make excuses and always have the same results. And so sometimes you’re right. It is just a little bit of truth to change your perspective or your perception so that you can see it differently and then make adjustments. Right?
Jay Conner [00:49:16]:
Absolutely. Unfortunately, a lot of people are walking around, and they live in a world that I call blame, shame, and justification. Blame, shame, and justification. And that’s sort of the cycle that a lot of people go through. Whatever’s going on in their life is never their fault, not their fault. Therefore, if it’s not my fault, it’s somebody else’s fault. So I have to blame. And then after I do the blaming, I’m still stuck with how I suck.
Jay Conner [00:49:44]:
I’m still stuck with how I suck. And so now I feel shameful because I still suck even though it’s somebody else’s fault. And so now I gotta justify why I suck. And so now I’m justifying and now I’ve got this cycle going around the blame, shame, and justification. I tell you one of my favorite books, Chaz, is, written by Jack Canfield, co-author of the Chicken Soup for the Soul series. It’s called the success principles and has very and there’s 69 of them. And his very first success principle says, to be 100% responsible for everything that happens in your life. And I love his formula as to how you can be responsible and I love it.
Jay Conner [00:50:25]:
It’s e plus r equals o. Well, what’s E plus R equals O? That stands for the event that happened in your life, whether you caused it or you didn’t. Plus R is your response to that event equals your outcome. E plus R equals O. Unfortunately, the people who are living in blame, shame, and justification are living in a world of a different formula called E equals 0. They’re living in a world of events, whatever happened in my life, whether I caused it or not, of course, they never think they caused anything. The event that happened in my life equals the outcome and I can’t do anything about it. Guess what? You can be and you are 100% responsible for the response to what happens in your life, and therefore you get to change the outcome.
Jay Conner [00:51:14]:
That’s what happened to me with the story I shared about being cut off from the bank. When Steve told me I was cut off from the bank, I had a choice. I could live in e equals o. Oh, I’m cut off from the bank. I have no funding. I’ll put my tail in between my legs. I’ll go home and I’ll be in blame and shame and justification and, you know, just cry in a corner. Or be responsible.
Jay Conner [00:51:39]:
I can respond, 100% response. I can respond to the event of being cut off from the bank. How do I respond? I ask, who do I know that can help me? And now I’m looking for a better and quicker way to fund my deals than being having my destiny determined by an event. Your destiny is determined by your response to the events, not by the event.
Chaz Wolfe [00:52:04]:
Yeah. It’s so good. People people mix up, you know, having that fault or the the reason the event happened. Right? The fault or the blame of it. And they mix that up with the responsiveness. And so if you break down responsibility, it’s the response to your ability, right, or your ability even to respond. You can kinda take it a couple different ways. And so I love everything that you just said there.
Chaz Wolfe [00:52:27]:
I think that the listener just got a nice little nugget there at the end. If they’re paying close attention, that nugget right there will change their life. And I’m not kidding on that one. The rest of the show has been incredible. Jay, you are incredible. But that last little piece, if they grab onto that, their whole life will be different.
Jay Conner [00:52:44]:
I got one last question.
Chaz Wolfe [00:52:44]:
I wanna make it clear how these folks can connect with you. You’ve been sensational, like I just said. You just kinda, halfway muttered that you’ve got a mastermind group. I know that you coach entrepreneurs and investors. I know you’ve got a book. You gave us a little website earlier of your deal room. Someone’s just like, man, I gotta get more Jay in my life.
Chaz Wolfe [00:53:03]:
How can they find you?
Jay Conner [00:53:04]:
Yeah. Well, the great thing about the challenge that I just launched is you get to interact with me. Right? And my book, Where to Get the Money Now, is, you know, it’s been a best seller. You can pick it up for free, just cover shipping at www.JayConner.com/Book And by the way, folks, I’m an ER, not an OR. Most Conners are ORs. I’m an ER.
Jay Conner [00:53:24]:
You can get it at www.JayConner.com/Book. I’ll autograph it, and ship it to you. If you really wanna interact and really dive deep, come join me in my world in the 7-day challenge at www.PrivateMoneyChallenge.com. And then of course we have my podcast, we have over 700 episodes right now. Believe it or not, the name of my podcast is Raising Private Money with Jay Conner, Raising Private Money.
Chaz Wolfe [00:53:58]:
It’s like you’re still educating people on it.
Jay Conner [00:54:01]:
And so, yeah, you can find me on any of your favorite podcast platforms, Raising Private Money with Jay Conner. And what do I do on the show? I interview amazing guests, and all of them have raised private money. So I interviewed them on how they have gone about raising private money for their real estate deals. By the way, by the way, Chaz answers. If you’re listening to this episode and you’re finding it enlightening, and inspiring, and you’re learning some stuff and you really wanna learn about private money, I have a brand new private money challenge, a 7-day challenge I want to invite you to where we dig deep. I go about 15 to 20 minutes per day, so it’s digestible. And come into my world and get into the private money challenge. You can join me at www.PrivateMoneyChallenge.com.
Jay Conner [00:54:54]:
That’s www.PrivateMoneyChallenge.com. Come on into my world and let’s have fun. Chaz, what an honor and a fun time of being here on your show. Thank you so much.
Chaz Wolfe [00:55:06]:
Yeah. No. The honor is mine. Thank you for being here. The hour that you’ve spent with us can be compounded into decades of experience, And so I appreciate you sharing all of that. The listener would be silly not to reach back out to you and connect with you, grab your podcast, grab your book, and all of the things that you just mentioned. All of that will be in the show notes as well. Jay, blessings to you and your family.
Chaz Wolfe [00:55:27]:
Thank you for being here. Good, sir.
Jay Conner [00:55:29]:
Chaz, thank you, and God bless you.
Chaz Wolfe [00:55:31]:
Thank you for listening to Gathering the Kings today. I hope that you were able to pull out a few nuggets to go apply to your business right away. More importantly, though, I hope that you’re realizing that it takes more to be successful than just being by yourself, doing it all on your own, carrying the weight all by yourself. What I have realized, not only in my own journey from multiple businesses and multiple different industries, and now interviewing over 2 or 300 other very successful 7, 8, and 9-figure business owners is that it’s tough to do it alone. And so Gathering the Kings exists to bring together successful entrepreneurs. We are putting together 1,000 kings, specifically who are grateful, but not done. We’re intentionally assembling kings who fight tooth and nail for their businesses, families, and communities, and here’s what we believe, in the pursuit of excellence in those areas that it ignites within us, the responsibility to govern power and forge a lasting legacy. So if that relates and resonates with you, and you know that you need people around you, sharp, qualified, and other very successful business owners, I want you to go to gathering the kings.com.
Chaz Wolfe [00:56:41]:
I want you to take a look at what we’re doing and see if it makes sense for you to be part of our pursuit of 1,000 Kings. Talk soon.
Narrator [00:56:53]:
Are you feeling inspired by the knowledge you gained in this episode? Then head over to www.JayConner.com/MoneyGuide. That’swww.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.