***Guest Appearance
Credits to:
https://www.youtube.com/@lily.global
“Get Private Money For Property Deals – Jay Conner And Lily Patrascu”
https://www.youtube.com/watch?v=EHZVZgLbkmI&t=813s
In today’s rapidly evolving landscape, success stories aren’t just inspiring—they’re also instructive. The recent conversation between Jay Conner and Lily Patrascu offers a treasure trove of actionable strategies for anyone interested in real estate investing, personal branding, or simply leveling up their business game.
Jay Conner: The Power of Creative Real Estate Investing
Jay Conner’s journey in real estate is marked by adaptability and creative problem-solving. In the recording, Jay dives into how he got started in the industry and the crucial turning points that shaped his approach. One key insight he shares is the importance of not relying solely on traditional financing.
Traditional banks and lenders can be limiting, especially for newcomers or those seeking flexible terms. Jay explains how leveraging private money became his secret weapon—allowing him to fund deals quickly and with far less red tape. Private investors, according to Jay, aren’t just looking for returns—they’re looking for trustworthy operators. “It’s about trust, relationships, and transparency,” he stresses.
For aspiring investors, Jay’s advice is clear: start building your credibility now. Attend local meetups, connect with mentors, and most importantly, start small but think big. Over time, your reputation will become as valuable as your portfolio.
Collaboration: The Multiplier Effect
A recurring theme throughout the conversation is the exponential power of collaboration. Jay and Lily both highlight how engaging with like-minded individuals, whether through masterminds, podcasts, or business partnerships, multiplies growth.
Jay illustrates with real-world examples—partnering with others led to larger deals, increased reach, and, ultimately, greater profits. Lily echoes this sentiment, noting that collaboration opens doors and accelerates learning. “When you surround yourself with high-achievers, success rubs off on you,” she says.
Bridging Real Estate and Branding
What makes this discussion truly unique is the synergy between real estate investing and personal branding. Jay and Lily underscore how credibility in one’s field—and visibility online—are two sides of the same coin. Whether you’re raising funds for a property or launching a new coaching program, people invest in those they trust and recognize.
The practical takeaway? Start today—document your wins, build your network, and invest in your personal development. With platforms available to amplify your voice and numerous communities to join, there’s never been a better time to carve out your own path.
Conclusion
The conversation between Jay Conner and Lily Patrascu is a blueprint for anyone looking to turn ambition into action. By melding smart financing strategies with intentional personal branding, the possibilities are endless.
If you’re at the crossroads of building a real estate portfolio or increasing your business visibility, Jay and Lily’s insights are your north star. Start small, stay authentic, and remember—the journey is just as important as the destination.
10 Discussion Questions from this Episode:
- Jay Conner emphasizes “not asking for money” when raising private funds for real estate. What psychological or strategic advantages do you think this approach provides compared to traditional fundraising methods?
- In the episode, Jay describes wearing his “teacher hat” instead of a “salesperson hat.” How does leading with education build long-term trust with potential private lenders?
- Jay claims that desperation has “got a smell to it” and that you shouldn’t seek money only when you need it for a deal. How can entrepreneurs practically avoid appearing desperate when networking or searching for funds?
- The concept of separating the education of the lending opportunity from presenting a specific deal is central to Jay’s method. Why do you think this separation is so effective?
- Jay shared the story of securing his first $500,000 in private money by asking for referrals, not investments. What lessons can other entrepreneurs take from this story about the power of indirect requests?
- Jay highlights the importance of teaching prospects about security and protections for lenders, such as deeds of trust and insurance. How does transparency about risk and protection affect a lender’s willingness to invest?
- Compare Jay’s “servant’s heart” strategy to the more competitive and negotiation-driven approaches when dealing with seasoned private lenders. What are the pros and cons of each method?
- Jay outlines five steps to raising private money, starting with having the right mindset. Which of these steps do you think is most challenging for new entrepreneurs, and why?
- Jay mentions the “Rule of Five” for consistent outreach. How might this principle be applied beyond private money raising to other aspects of business growth?
- What are the biggest mistakes entrepreneurs make when raising money, according to Jay, and how can these mistakes be avoided through mindset and practical action?
Fun facts that were revealed in the episode:
- Jay Conner’s Expertise: Jay Conner shares his extensive experience in real estate investing, revealing some behind-the-scenes strategies that most people don’t hear about unless they’re already in the business.
- Lily Patrascu’s Unique Perspective: Lily brings a fresh, international perspective to the conversation, often asking questions that dig deep into the personal and professional stories behind Jay’s real estate success.
- Collaboration Energy: The chemistry between Jay and Lily leads to an engaging and dynamic conversation, with plenty of laughter and moments where they challenge each other’s ideas—making for an insightful and entertaining episode!
Timestamps:
00:01 Securing Private Money for Real Estate
03:13 Securing Funding Without Asking
06:26 High-Return Real Estate Investment Offer
12:18 Teaching Private Money Lending Basics
14:06 Private Money: Be Your Own Underwriter
19:40 Private Lender Luncheon Invitation Guide
22:13 Daily Private Money Outreach Strategy
25:13 Private Lending Misconceptions
28:49 Crystal’s Private Money Success
31:36 Simple Private Lending Process
34:18 Free Real Estate Money Guide
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
https://www.youtube.com/c/RealEstateInvestingWithJayConner
Apple Podcast:
Facebook:
https://www.facebook.com/jay.conner.marketing
Twitter:
https://twitter.com/JayConner01
Pinterest:
https://www.pinterest.com/JConner_PrivateMoneyAuthority
The Mindset and Habits Behind Effortless Private Money Raising for Entrepreneurs
Jay Conner [00:00:00]:
And you know what’s interesting, Lily? After two cups of coffee, that $250,000 became $500,000, and that was with no deal attached to it. Here’s a rider downer. Desperation has got a smell to it. The worst time to be raising private money is when you need it for a deal. So I didn’t talk about any deals. I just talked about the opportunity.
Narrator [00:00:26]:
If you’re a real estate investor and are wondering how to raise and leverage private money to make more. Prof. 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.
Lily Patrascu [00:00:53]:
How would you like to be able to raise private money without asking for money? Jay Connor, a nationally renowned real estate investor, will tell us how. So, Jay, please tell us, how can entrepreneurs raise private money for their property deals without asking for it? Welcome to the Awakened Titans podcast with Lily Patresku. Mind-blowing conversations with influential business titans, sharing how you can manifest abundance, love, joy, and success through quantum awakening, quantum manifestation, quantum healing, quantum miracles, exponential business growth, and innovative products and services.
Jay Conner [00:01:34]:
Oh my lands. Lily, thank you so much for inviting me to come along and be a guest here with you on your show. I’m so excited and passionate to talk about private money because ever since I started raising private money in 2009, I’ve never missed out on a deal for not having the money. So, in answer to your question, how in the world do you get all this private money? How have I gotten all this private money without ever asking for money? Well, here’s the way it works. You see, I now have 4747 individuals, people who are investing in my deals, loaning me money in my real estate deals. I never asked any of them for money. And here’s what’s interesting. Not one of these private lenders, Lily, ever heard of private money until I told them about it.
Jay Conner [00:02:26]:
So how do I do it? I put on my teacher hat, which says private money teacher. And I just go about teaching people, ordinary people like you and me, what private money is, how they can get high rates of return safely and securely. And as I said, 47, all 47 of my private lenders never heard about private money. They never heard about self-directed IRAs. So I went about teaching them about it and never asked. So how do I get my deals funded without pitching? You know, Lily, I’ve never pitched a real estate deal to get it funded. So here’s the secret sauce. Let me pull the curtain back and reveal exactly how it works.
Jay Conner [00:03:13]:
Here’s the answer. You see, I separate the conversation between teaching the opportunity to be a private lender and having a deal with them to fund. So first, I expose them to the opportunity. I might do it one-on-one. I might do it at a private lender luncheon where I have 20 people there, and I feed them lunch, and I tell them about it, right? And then they tell me how much they’ve got to work with. And then I get my deals funded without ever asking for money. Lily, if I may, I’ll share a short story as to how I got my very first private lender without asking for money. And then the exact script as to how I get my deals funded without asking for money.
Jay Conner [00:04:04]:
Is that okay?
Lily Patrascu [00:04:05]:
Yeah.
Jay Conner [00:04:06]:
Awesome. So here’s how I got my first $500,000 in private money without asking for money. So I had just been cut off from the banks back in February of 2 or January 2009. I’ve been in this business for six years, from 2003 to 2009. And I lost my line of credit at the local bank in the midst of the global financial crisis. So the first thing I did was put my program together that I was going to offer and teach how people can get high rates of return safely and securely. So here’s how I got my first $500,000 without asking for money. It was on a Wednesday night at 7:30.
Jay Conner [00:04:52]:
My wife Carol Joy and I live here in Morehead City, North Carolina, a small town. We’ve been going to church at the Church of Christ on Barber Road for a number of years. And so I walked into the church building in the foyer at 7:30 p.m. on Wednesday. And I was looking for a gentleman named Wayne. I walked up to Wayne. Wayne and I had known each other for a number of years. And I walked up to Wayne, and I said, Wayne, I’d like to visit with you confidentially after Bible study if you’ve got a few minutes. He said, Sure.
Jay Conner [00:05:24]:
So we got together after Bible study. We walked down to the nursery. I shut the door, and I said, Wayne, here’s the exact, here’s the exact script. Here’s exactly what I said to Wayne. I said, Wayne, you know everybody in this town. And he did. He was the original Zenith Television dealer in Morehead City, North Carolina. Now, if you don’t remember who the Zenith Television dealer was, that means you’re too young, like Lily, to remember Life before Walmart came to town.
Jay Conner [00:06:00]:
Before Walmart, you got your television from the Zenith television dealer. He’d sell it to you, finance it, repair it. Well, Wayne Beasley was the Zenith television dealer. And I told him, I said, Wayne, you know everybody in this town, you put a TV in everybody else’s house. And here’s the magic phrase, Lily. I said, Wayne, I need your help. Powerful phrase. I said, Wayne, I need your help.
Jay Conner [00:06:26]:
I said, when you run across somebody that’s complaining about the stock market and losing money in the stock market and the volatility in the stock market and not making any money, it’s hard to speak of in the local bank, and a CD, would you refer them to me? Because I have now opened up my real estate investing business by referral only, and I’m now paying insane high rates of return to my investors. Would you refer them to me? What do you think Wayne said? Wayne said, Well, now, brother J, what you got going on there? I said, Well, are you saying you might be interested, Wayne? He said, Well, I might be interested. I said, Why is that? He said, Well, I’m losing money in the stock market. I’m not making any money in the local bank. What kind of interest rate are you paying there, Jay? I said, well, that sort of depends on the deal. I said, What sounds high to you? He said, Well, I don’t know, maybe 5 or 6%. He was earning 3% in the local bank. I said, Wayne, I can’t pay you 5 or 6%, but I can pay you 8%.
Jay Conner [00:07:30]:
He said, Put me down for $250,000. And so the next day on Thursday, afternoo, I went to his and his wife’s home and I taught the private lending opportunity. I put on my teacher hat, and I’m leading with a servant’s heart. I’m not chasing, begging, selling, or persuading. I’m teaching the opportunity as to what private money is all about. And you know what’s interesting, Lily? After two cups of coffee, that $250,000 became $500,000. And that was with no deal attached to it. Here’s a rider downer.
Jay Conner [00:08:09]:
Desperation has got a smell to it. The worst time to be raising private money is when you need it for a deal. So I didn’t talk about any deals. I just talked about the opportunity. And then, Lily, I’m going to share the exact script as to how I get the deal funded without pitching the deal. Then I’m going to turn it back to you, because after all, this is not my show. So here’s the exact script as to how I get my deals funded without pitching the deal. Lily, let’s hypothetically suppose that you and I have known each other for a good while.
Jay Conner [00:08:46]:
We’re good friends. And let’s also suppose I’ve told you about the private lending program and you like it. And let’s also suppose that you’ve got $150,000 in a former 401 (k) at a former employer, and you don’t like what’s happening over there. So I’ve taught you the program. You know the interest rate is 8%. You know how you can get your money back early in case of an emergency. You love the program. And let’s also suppose you’ve told me you got $150,000 over there in that account.
Jay Conner [00:09:16]:
So I’ve introduced you in this example to my Self-Directed IRA company that I recommend. Let’s suppose you’ve moved that $150,000 over to the Self-Directed IRA company and you’re now waiting for me to put your money. So here’s the exact script, Lily, that I call you up with to get my deal funded. Here’s the script. I call up Lily, she answers the phone, we have a little chat, and then I say, Lily, I got great news for you. I can now put your money to work. I’ve got a house under contract in Newport, North Carolina, adjacent to Morris City. The after-repaired value on that house is $200,000.
Jay Conner [00:10:01]:
Now the funding required for the deal is 150,000. That matches up to what you’ve got at the self-directed IRA company. Now, closing is going to be next Friday. You’ll need to have your money wired to my real estate attorney’s trust account by next Thursday. I’m going to have my real estate attorney email you the wiring instructions. That’s the end of the conversation. The most stupid thing I could do is ask Lily, Do you want to fund the deal? Of course, she wants to fund the deal. And here are three reasons why Lily is ecstatic about funding this deal.
Jay Conner [00:10:38]:
Number one, Lily trusted me to move her $150,000 of retirement money over to the self-directed IRA company that I recommended. Secondly, Lily knows I’m not going to bring a deal for her to fund that doesn’t match the criteria of the program that I’ve already taught her. And thirdly, Lily’s ecstatic to fund my deal because Lily’s not going to make any money until I put her money to work. I’m ethically bound to invest Lily’s money because of what I promised her. So just to unpack that, I didn’t ask Lily for any money. I taught her the program. She liked it. I introduced her to the self-directed IRA company, and I promised her.
Jay Conner [00:11:28]:
I put her money to work, and I followed through and I gave her the good news, phone call, all that without ever asking anybody for money.
Lily Patrascu [00:11:40]:
Thank you. Do you not find that people give you some sort of objections, like don’t they have a lot of questions about what about this, what about that, what about the other, and how am I going to do this and this kind of thing?
Jay Conner [00:11:52]:
Yes, they always have questions, and that’s important to know what to teach. So I teach them 20 different points of the program, how they’re protected. I don’t borrow unsecured money. I secured their loan with the real estate that I’m buying. They get a deed of trust. That’s here in North Carolina. Most states call it a mortgage. So I’m collateralizing the note.
Jay Conner [00:12:18]:
If I don’t pay them, the property does. I name them on the insurance policy as a mortgagee. So if the house burns down, they get paid first because insurance companies pay mortgagees. Private lenders, before they pay me, I named the private lender on the title insurance policies and as additional insured. So typically, Lily, by the time I teach the program to a new potential private lender, I’ve pretty much always covered all the questions that they ask. But of course, if they have any questions, we’re glad to answer them as well. What I’ve discovered is that I have 47 private lenders right now, Lily. Not one of them ever heard of private money, private lending, or self-directed IRAs until I put on my teacher hat and I taught them about it.
Jay Conner [00:13:11]:
But yeah, sometimes they have questions. But what I’ve discovered is that by the time they listen and learn about how the program works, they’re pretty much ready to go.
Lily Patrascu [00:13:22]:
Thank you. What makes the difference between this kind of way of raising private money without asking for it and what everyone is doing in the market?
Jay Conner [00:13:31]:
Oh, my lens. Lily, that’s a great question. So what makes this so different from using private money like this in contrast to? Are there any traditional ways to borrow money? You know, the traditional way to borrow money is you go to the local bank, the mortgage company, or the hard money lender. So don’t confuse hard money with private money. Hard money is typically a brokerage that has raised money for its fund from private lenders. And the hard money lender then loans that out to real estate. Investors.
Jay Conner [00:14:06]:
So that’s all institutional money. And so the traditional way to borrow money, of course, is to go to them, fill out an application, have your credit score pulled, and provide financial statements. They’re going to get an appraisal on the property, and you are applying for a mortgage. You’re asking for a mortgage. Well, in this world of private money, there’s no asking, no begging, no chasing, no pleading, no persuading. Instead of asking for a mortgage, we’re offering a mortgage and offering the opportunity. As a result, we, as the borrower, are our own underwriter. We’re our own underwriter for the deals.
Jay Conner [00:14:48]:
We set the interest rate, we set the frequency of payments, and we set the length of the note, as opposed to the lender. Traditionally, you know, the traditional way to borrow money is the. The entity, the person who’s got the money, makes the rules. But not in this world. We make the rules, we set the interest rate. We’re offering the opportunity instead of applying for or asking for a mortgage.
Lily Patrascu [00:15:15]:
Thank you. How does this differ from other private lenders that could come from your network? Like in terms of, like what other people do in terms of raising money from private lenders that they know. How does your method vary?
Jay Conner [00:15:31]:
Yeah, great question. My method varies and is different because I’m leading with a servant’s heart. I’m teaching people who have never been exposed to this world of private money. That’s why we get to make the rules. Most other real estate investors, when they’re raising private money, they’re talking with people who are private lenders already. They’re existing private lenders, and they have already loaned money out. Guess what? That is a negotiating conversation. The private lender is negotiating, and they’re saying, Well, here’s what I’m accustomed to getting.
Jay Conner [00:16:10]:
12%, two points, whatever. What’s so different about that is when you’re raising private money, the way I raise private money, there is no negotiation. I’m not asking, I’m offering. Here’s the program. And you know what? There’s more money and there’s more potential private lenders than there are deals. So that’s the big distinction, the biggest distinction. Borrowing from existing private lenders or institutional money, they make the rules, or there’s a negotiation. My way of raising private money is that I make the rules.
Jay Conner [00:16:48]:
The borrower, you, the borrower, makes the rules, and there is no negotiation.
Lily Patrascu [00:16:54]:
Thank you. Tell us your ten Commandments for someone who would like to implement your method for raising private money without asking for it.
Jay Conner [00:17:03]:
So the 10 methods. So you’re looking for 10 steps?
Lily Patrascu [00:17:06]:
Yes.
Jay Conner [00:17:07]:
Well, there aren’t 10 steps. There are five steps. So here are the five steps. So it’s easier than 10 steps. Right? The first step in raising private money the way I do it is, first of all, to own the real estate between your ears. What in the world do I mean by that? I mean own the mindset. Have the right mindset. Sometimes, Lily, people will say, Well, I’m fearful of rejection.
Jay Conner [00:17:35]:
Well, guess what? Let me answer that fear with a question. How can you be rejected if you’re not asking anybody for anything? You’re simply teaching the opportunity. So that’s the mindset, right? Know that you’ve got something that’s going to make a difference in other people’s lives. They need you more than you need them because there are more private lenders available than there are deals. So again, is the mindset leading with a servant’s heart? That’s the mindset. Number two step to raising private money, the way I do. Here’s a writer downer. Know your program, know what it is you’re offering.
Jay Conner [00:18:18]:
Well, how do you know what you’re offering? Well, I’d say just duplicate what’s in my book. And because you’re here on Lily’s show, I’m going to give you my book for free. Where to get the money. Now, in my book, I explain exactly what the program is that you offer. What’s the interest rate? What’s the frequency of payments? What’s your maximum loan to after-repaired value of a single-family house? How can they get their money back in case of an emergency? How are you protecting them? Right, so you want to know what it is you’re teaching. Obviously, you want to know what it is that you’re offering. So you got the mindset, right?. Number two, know your program.
Jay Conner [00:19:02]:
Next step. Step number three is to make your list. Well, what list am I talking about? Make your list from your contacts as to who your top 44 are. And my book will teach you how to identify your top 44 potential private lenders that are already in your network. They’re in your cell phone, social media, and email contacts. So I can tell you where to start your list. You start your list by making a list of people that you have contact with who are retired. Those who are retired.
Jay Conner [00:19:40]:
Well, why does that make such a good list? Because retired people have retirement funds either in a 401 (k) or in the stock market. And in today’s market, odds are they’re not happy with the returns. They’re getting. So you make your list. All right, the next step, step number four, is simply to invite those people to a private lender luncheon that you are going to host. You say, Jay, what in the world is a private lender luncheon? A private lender luncheon is where you invite people to a luncheon. You’re going to pay for the lunch, and you’re going to present to them and teach them the private lending program. You say, Jay, what’s the private lending program? It’s in the book.
Jay Conner [00:20:28]:
So you’re going to teach the private lending program to the people at your luncheon. That’s step number four. They’re going to give you a sheet. They fill out the level of interest. And then step number five, the money is in the follow-up. You’re going to call them and thank them for attending the luncheon, and you’re going to ask them for any feedback as to how you could have made the luncheon better. You’re not going to ask for money. You’re not going to ask them how interested they are in becoming a private lender? No, no, no, no, no.
Jay Conner [00:21:02]:
You’re going to ask them for their feedback as to how you could have made the luncheon better. And guess what? If they’re interested or they’re not interested, they’re going to tell you without you even asking. Those are the first five steps to raising a lot of private money. At my very first private lender luncheon, I raised $969,000 doing it exactly the way I’m saying.
Lily Patrascu [00:21:28]:
Thank you. What are some good habits for entrepreneurs who want to raise money without asking?
Jay Conner [00:21:35]:
Consistency. So what I mean by consistency is to employ what I call the rule of five. The rule of five. Well, what in the world is the rule of five? I learned the rule of five from Jack Canfield. Jack Canfield is the co-author of the book series called Chicken Soup for the Soul that has sold millions and millions and millions of books worldwide. Well, I’ve gone to many of Jack Canfield’s trainings. In fact, I became certified as a Jack Canfield trainer. And this rule of five principle I learned is this.
Jay Conner [00:22:13]:
At the end of your day, identify five things to implement tomorrow on your next business day that would move the needle and have a big impact on moving your business forward. So what did I do and what do I recommend? At the end of your business day, identify five people that you’re going to reach out to and expose them to this world of private money. Now, in the book, it explains how to get the money. Now that I’ll send you. I’ve got exact scripting in the book as to exactly what to say to them over the phone, or what to say to them in the email, or the text that you would send them. But that’s it. Five days a week, five people a day, that’s 25 people a week. Reach out to them, nd expose them, and introduce them to this world of private money.
Lily Patrascu [00:23:09]:
Thank you. What else would you like entrepreneurs to know about raising money without asking for it?
Jay Conner [00:23:14]:
So what else do you need to know? I tell you the big thing to know. There’s more money out here than there are deals. And so that’s why you don’t have to chase, beg, sell, or try to persuade. Again, it’s all about leading with a servant’s heart, making a difference, making an impact. Have it on your teacher hat. And again, remember, you can’t be rejected when you’re not asking anybody for anything. And take action. Money’s not going to show up for your real estate investing business until you implement.
Jay Conner [00:23:48]:
Knowledge is one thing, but walking across the bridge and implementing what you will learn in the book that I mailed is another.
Lily Patrascu [00:23:56]:
To you, what needs to happen in someone’s energy, charisma, way of being, so that they are secure in themselves enough to present the deals to these private money lenders in a confident, secure way, so that they, you know, project the right kind of energy?
Jay Conner [00:24:18]:
Practice, practice, practice. So, what I recommend is to learn the private lender program, right? I’ll even supply you with a PowerPoint presentation that you can download to your laptop. And so take the presentation, take what it is you’re teaching, and practice it on friends and family. You only have to do that two or three times. And after you’ve practiced that presentation and you’re teaching it, then now you’re ready to, you’ll have the confidence. And now you’re ready to actually share that with people in your warm market, people you have connections with. And that’s important. Nobody’s going to invest money with you until you are first confident in yourself.
Lily Patrascu [00:25:07]:
Thank you. What are the worst mistakes entrepreneurs make when it comes to raising money?
Jay Conner [00:25:13]:
Well, I’ve sort of answered that without you asking that question. So the mistake they make is that they think that they’re borrowing traditional money. They think they’ve got to apply. They think that the lender is making the rules; they think the private lender is setting the interest rate. And it’s all the opposite of that. Remember, we make the rules, we’re offering the opportunity, and you’re making a difference in their lives. I tell you, Lily, I don’t know how many thank you notes that my wife Carol, Joy, and I have received in the mail from our private lenders talking about how we have changed their retirement years. We’ve got elderly private lenders that invest in our deals and loan us money.
Jay Conner [00:25:59]:
One in particular I’m thinking of wrote us a note saying, Thank you for changing our retirement years. We have been able to visit and travel to see our grandchildren so much more than we would have been able to without your program. So that’s just it. The opportunity is here to serve other people, and you’re not chasing and begging; you’re serving them. The biggest mistake is not having the right mindset.
Lily Patrascu [00:26:30]:
Thank you. What needs to happen for you to become an investable person, like, in terms of, like, your overall, like, what you look like or the kind of how you project yourself? What needs to happen there?
Jay Conner [00:26:45]:
Well, it’s ideal. Before you start borrowing private money, it’s ideal for you to have some experience. And if you don’t have your own experience to draw off of, then draw off of your previous experience. You know, you might have never done a real estate deal before in your life, but what else have you been successful in in the past? Right. You can leverage the experience that you’ve had previously. In addition to that, I recommend getting a mentor. Get a coach who has been in this world if you’re just starting, and leverage that relationship. When you have a mentor or a coach, you can honestly say that my business partner and I do.
Jay Conner [00:27:29]:
Let’s say I’m your business partner. Let’s say I’m your coach. Let’s say Jay Connor is your private lending coach. Well, I’ve rehabbed over and flipped over 500 houses. You can honestly say my business partner has flipped over 500 houses in this space. And we work together on these deals. So join up with somebody that’s got the experience that you can leverage and share that story with a new potential private lender.
Lily Patrascu [00:28:01]:
Thank you. Tell us three case studies of entrepreneurs who have implemented this formula for raising private money without asking for it, and what successes they’ve personally had.
Jay Conner [00:28:13]:
Well, I’m thinking of Eric and Erica Carmadell. Eric and Erica Modell. They live in Poplarville, Mississippi. And they came to me a few years ago. I think exactly four years ago, we started working together. They started raising private money exactly like I do. And within nine months, Eric quit his day job working for the railroad. And today, they have over $4 million in private money that they just use from project to project.
Jay Conner [00:28:49]:
And then I’m thinking about Crystal. Crystal lives in Virginia Beach, Virginia. Crystal came to me and started working in the world of private money. She was a full-time physical therapist, occupational therapy, rather, I should say, and she oversaw multiple clinics. She had tried real estate investing on the side with not much success. Anyway, seven months after starting to work with me in this world of private money, she quit her day job. She was making multiple six figures a year, but hated her life because she had no life. And to date, she has over $5 million in private money, and she never misses out on a deal because she has the money.
Jay Conner [00:29:37]:
And then I think of another guy named Dan, Dan Cantilla. Last year, Dan Contilla heard me on a podcast, and he asked me to mail my book to him. And I mailed my book to him. Where to get the money now. I just talked to him earlier this year. He got my book, he read my book, and as of today, he has over $7 million in private money just from reading the book. Where to get the money now.
Lily Patrascu [00:30:05]:
Thank you. What’s a good process to follow when it comes to due diligence so that the offer that you make to the private lenders makes sense?
Jay Conner [00:30:14]:
Well, the important point is that we close all of our deals, and you should close all of your deals with professionals. So here in North Carolina, it’s real estate attorneys who actually do the closing on real estate. Texas, as well as most states, uses title companies. But your private lender needs to know and understand that, first of all, all the paperwork and documents are going to be prepared by your real estate attorney. And then when the closing happens, it’s either by a title company or a real estate attorney. So it’s professionals that handle all the closings to make sure the private lender is protected and is safe and secure.
Lily Patrascu [00:30:59]:
Thank you. I was referring more in terms of. In terms of offering a deal that actually makes sense. You know, like a deal that will make the money that is kind of being promised.
Jay Conner [00:31:11]:
Oh, I understand now. So, yes. Well, that’s why it’s important to teach the program up front. What’s the maximum loan-to-value? 75% of the after-repaired value. What’s the length of the note? Two years. If it’s just investment capital, what’s the frequency of payments? I leave that up to the private lender. So, back to the good news. Phone call, Lily.
Jay Conner [00:31:36]:
When I call the private lender to fund a deal, they know I’m bringing a deal to the table for them. To fund that matches the criteria that I already taught them. So that’s why I don’t have to go into all the details of the private lending program. They already know that. They already know that. All they now need to know is where the property is, the physical address of the property that’s going to secure their note, the amount that they’re loaning out in relation to the after-repair value, and the date that that money needs to be wired. That’s a key point. Keep everything simple, simple, simple.
Lily Patrascu [00:32:17]:
Thank you. Tell us where entrepreneurs can connect with you and find out more about this program on how to raise private money without asking for money.
Jay Conner [00:32:26]:
Thank you, Lily. Well, I would love to give your audience my book, where to get the Money. Now, subtitle how and where to get money for your Real estate deals without asking for money. I will mail the book to you via Priority Mail. You can get it at Amazon for 20 bucks, but don’t spend 20 bucks. Let me give you the book. Just cover shipping and Hamlin. That’s a couple of bucks.
Jay Conner [00:32:51]:
I’m also going to include two tickets to my private money conference. That’s an in-person conference. That’s a $3,000 value. I’m going to include two tickets along with the book. You can pick up the book at www.JayConner.com/Book. Now I’m an ER, not an OR, which stands for extra revenue. So again, that’s www.JayConner.com/Book..
Jay Conner [00:33:26]:
I’ll rush it right out to you. In addition to that, come check out my podcast. I’m now in my eighth year of podcasting. My podcast is called Raising Private Money. Imagine that. Raising Private Money with Jay Connor. It’s on all the podcast platforms and twice a week. I have two shows a week.
Jay Conner [00:33:47]:
I’m always interviewing other real estate investors who have raised private money, and how they go about raising private money. Come join the party, Raising Private Money with Jay Connor.
Lily Patrascu [00:33:59]:
Thank you. Follow us for more interviews with the world’s most influential business titans, providing you with the insights to awaken to your full potential so you can get paid to be yourself, find true happiness, and manifest anything you desire.
Narrator [00:34:18]:
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 jconner.com moneyguide to get your free guide. We’ll see you next time on Raising Private Money with Jay Conner.