Credits to:
https://www.youtube.com/watch?v=QmqJVUKLl3A
“300: Private Money vs. Hard Money: The Secret to 8% Funding for Real Estate Deals – Jay Conner”
https://www.youtube.com/@TempoInvestments
In a recent episode of the Raising Private Money Podcast, Jay Conner, the Private Money Authority, sits down with Mike Zlotnik and talks about the most important aspect of elevating your real estate business: Private Money.
Their discussion offered a wealth of actionable strategies for both novice and seasoned real estate investors seeking to unlock the power of private capital — without ever feeling like they’re selling or begging for funds.
The Abundance of Private Money
Jay Conner highlighted a remarkable trend: there is more Private Money available today for real estate deals than ever before. According to Jay, “People don’t know what to do with their money.” Many individuals are searching for new opportunities to put their capital to work, whether it’s investment capital or funds rolled over into a self-directed IRA.
While some sectors, particularly commercial real estate and multifamily, have experienced difficulty accessing capital due to recent market resets, Jay noted that his area — single-family homes in Eastern North Carolina — has been flush with private lending opportunities. He attributes this difference primarily to asset class and market dynamics.
The Power of Education
Jay attributes much of his success to his role as an educator. None of his 47 private lenders had ever heard of Private Money lending before he introduced them to the concept. Jay emphasized, “We take on the philosophy of being an educator… None of them ever heard about this world until we started educating them on what it is, how they can get high rates of return safely and securely.”
Instead of pitching or selling investments, his approach centers on teaching prospects about the benefits of Private Money, comparing returns to typical bank accounts or CDs, and explaining the security provided by real estate-backed loans.
Where to Find Private Lenders
Jay outlined three main “buckets” for sourcing private lenders:
- Your Warm Market: Friends, acquaintances, coworkers, CPAs, real estate attorneys, and even your dry cleaner could all be potential lenders. Professionals often serve as “gatekeepers” and can become great referral sources.
- Expanded Warm Market: Jay recommends joining local networking groups like Business Networking International (BNI), where members actively seek to refer business opportunities to one another. He credits millions of dollars raised to these connections.
- Existing Private Lenders: These are individuals who are already comfortable with lending against real estate, often seeking higher yields than typical retail investors.
The Non-Selling Approach: Diagnose Before You Prescribe
A critical takeaway from Jay’s method is never to “sell” Private Money. Instead, he advises that you diagnose whether someone could benefit from what you offer — before you mention your program. For example, his favorite conversation opener is: “With what’s going on in the investment markets these days, what are you investing in, if anything, that’s giving you a high rate of return?” Depending on their response, Jay determines if it makes sense to share more about Private Money lending.
Building Trust and Keeping It Simple
Both Jay and Mike agreed: building trust is essential before you can ever raise a dollar. Authority, expertise, and credibility need to be established upfront, and all communications should be straightforward. “A confused mind always says no,” Jay pointedly remarked.
Exclusive Tools and Education
Jay Conner also provides additional resources for those interested in learning his system:
- Private Money Conference: A three-day, hands-on event covering everything from raising capital to selling homes and automating your business.
- Script Collection: Free downloadable scripts for initiating conversations with potential lenders.
- His Book, “Where to Get the Money Now”: A national bestseller walking readers through Jay’s step-by-step process.
Fast-Track Selling: The Three-Day House Sale
For investors worried about getting stuck with unsold properties, Jay describes his rapid-turnover “one-hour sale” for single-family homes using lease-purchase exits. This approach brings in dozens of prospective buyers, creates a sense of urgency, and often sells the property within three days.
Final Thoughts
Raising Private Money isn’t about aggressive pitches. It’s about relationships, education, and offering a solution to someone’s problem — namely, the need for secure, high-yield investments. Whether you’re brand new to real estate or ready to scale, Jay Conner’s principles offer a trusted roadmap for unlocking private capital and turning deals into profit.
For more resources or to reach Jay directly, visit https://www.JayConner.com.
10 Discussion Questions from this Episode
- Jay Conner highlights that now there is more Private Money available for real estate than ever before. What factors do you think are driving this abundance of private capital?
- The conversation distinguishes institutional money, private lenders, and hard money. What are the primary differences and pros/cons for borrowers in each category?
- Jay emphasizes the importance of educating potential private lenders. How does becoming a “Private Money teacher” help in raising funds without directly asking for money?
- Mike Zlotnik mentions that while Private Money is plentiful in single-family investments, it’s harder to raise for commercial and multifamily deals. Why do you think investor sentiment differs between these asset classes?
- Jay Conner’s strategy involves diagnosing a potential lender’s needs instead of pitching immediately. How can this diagnostic approach improve your capital-raising conversations?
- What are the three main categories where Jay finds potential private lenders, and how might you leverage each in your own network?
- The episode touches on building trust and relationships before ever asking for money. Why is this foundational when working with private lenders, and how can new investors establish this trust?
- Jay describes using private lender luncheons as a strategy for efficiently presenting to multiple prospects. What are the key elements that make this approach effective?
- The concept of “confused mind always says no” is discussed when presenting investment deals. What steps can you take to ensure your offerings remain simple and clear to potential lenders?
- Jay explains his method for selling houses quickly using lease-purchase options and short, high-energy events. Do you think this approach could be replicated in different markets, and what potential challenges might arise?
Fun facts that were revealed in the episode:
- Jay Conner Has Worked with 47 Private Lenders
Jay Conner and his wife Carol Joy have partnered with as many as 47 individual private lenders—none of whom had ever heard of Private Money investing before Jay educated them about it. - BNI Membership Helped Raise Millions
Participating in Business Networking International (BNI), a business networking group, has helped Jay Conner secure millions of dollars in funding through referrals from fellow members looking for higher returns than what banks offer. - Jay Raised Nearly $1 Million at a Single Lunch Event.
Jay once raised $969,000 at just one private lender luncheon, where he presented to a group of about 20 potential lenders over a meal, showcasing how Private Money lending works.
Timestamps:
00:00 Educating investors on Private Money
03:49 Investor money stuck in bad deals
08:18 Expanding your business network
12:19 Discussing investment opportunities
15:57 Current state of capital raising
17:22 Investing in real estate yields
22:03 Real estate workshop overview
24:54 Helping with credit for homeownership
27:26 Changing habits for future success
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
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https://www.facebook.com/jay.conner.marketing
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https://twitter.com/JayConner01
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https://www.pinterest.com/JConner_PrivateMoneyAuthority
Navigating Private Lending: Tips for Real Estate Investors from Jay Conner and Mike Zlotnik
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.
Mike Zlotnik [00:00:39]:
Welcome to the Big Mike Fund Podcast. I’m Big Mike, Mike Zlotnik, and today it is my pleasure and a privilege to welcome back Jay Conner. Hey, Jay.
Jay Conner [00:00:46]:
Hello there, Mike. Thank you so much for inviting me to come back and, uh, talk with, uh, your audience about how passionate I am about Private Money, how to raise Private Money without ever asking for it, and I’m so glad to be back.
Mike Zlotnik [00:00:59]:
Yeah. Thank you, Jay. You are kind of like one of these foremost experts in raising Private Money for notes, for deals, for real estate in general. You do real estate in North Carolina, right? If I remember correctly.
Jay Conner [00:01:14]:
Yep. Eastern North Carolina, Morehead City, Atlantic Beach, right here on the coast and the southern tip of the Outer Banks.
Mike Zlotnik [00:01:21]:
That’s right. You have that wonderful, I don’t know what’s the word for it, dialect. It’s the, I guess that’s how they talk in Eastern North Carolina.
Jay Conner [00:01:29]:
That’s how, that’s how we talk, man. I can’t get rid of it.
Mike Zlotnik [00:01:32]:
Oh, but it’s wonderful. It sounds very sweet. So that’s great to hear. So what’s new and exciting? What’s, what’s been, I mean, it’s been a few years since you came on a podcast. So what has changed? What’s been really interesting in your world?
Jay Conner [00:01:45]:
Yes. Yes. Well, what I’ve discovered, Mike, is that there’s more Private Money available now for any kind of real estate asset class than I’ve ever seen before. People don’t know what to do with their money. Uh, we take on the philosophy of being an educator. So my wife, Carol Joy, and I, we’ve had as many as 47 private lenders, individuals, just human beings, loaning us money, investing in our deals from either their investment capital and/or their retirement funds that they’ve moved over to a self-directed IRA. And so none of my 47 private lenders ever heard about this world of Private Money until I put on my teacher cap, which says Private Money, teacher. So none of them ever heard about this world until we started educating them on what it is, how they can get high rates of return safely and securely.
Jay Conner [00:02:37]:
So in answer to your question, uh, if you’re, if you’re listening to this show, uh, just know that there’s more Private Money available than I’ve ever seen before. Trillions of dollars just sitting on the sidelines in people’s Retirement accounts, and money is not the issue today. If there’s any issue, it’s finding the deals. And of course we talked about how to do that as well. But there’s no reason to miss out on any deals because you don’t have the funding. BetweenMike and his Tempo Funding and private lenders, plenty of money. Are you seeing the same thing, Mike? Plenty of money out there?
Mike Zlotnik [00:03:13]:
Well, it’s interesting you say that. I almost wanted to say, I will beg to differ. Because things have changed a little bit in the commercial real estate space. So maybe you’re seeing great Private Money supply in your neck of the woods, in your small ecosystem. And I’m not questioning what you’re saying. I’m just saying that what has happened in the industry is that there’s been a lot of investment in multifamily, as you know, right? Multifamily syndications. And there’s been a massive reset. So multifamily got devastated with the market reset.
Mike Zlotnik [00:03:49]:
And if it’s not a complete loss of money, the money is stuck, and it’s sitting and waiting and hoping that one day it’ll get out of these difficult deals. So that’s scarred investors. That is essentially stuck money or lost money. On top of all that, you’ve got a stock market that’s just been doing great. For whatever reason, it’s been in a in a bull run, AI-driven, Magnificent 7. So I don’t have to tell you, you know what’s going on. It’s just been doing really well. So people are complacent.
Mike Zlotnik [00:04:19]:
They’re doing well. It’s almost like they have to be thinking to diversify themselves naturally to get the money out of the stock market, to get the money into the new deals. We have a lot of great deals in the industrial space and open-air retail, but investor sentiment is just hard to find new investors. So maybe you and I need to partner up in some ways because you know how to get the money. You’ve got great deals. It’s gotten harder, I have to say. That’s my observation.
Jay Conner [00:04:47]:
Sure. Well, and of course, this world of Private Money is not institutional money. These people have not been—
Mike Zlotnik [00:04:54]:
Agreed. By the way, we are not talking about institutional money, which is a world of its own. Getting institutional money is much harder and a very different world for sure. Yeah.
Jay Conner [00:05:02]:
So I’ve never invested in multifamily. So I haven’t felt that pain as to what’s happened in the market. I’ve never done syndication. So all the Private Money that I raise and my students raise all across the nation is specifically for single-family houses. And, uh, we don’t syndicate. Everything is asset-backed debt, uh, or one-offs. And so you’ve got individuals. And so, you know, the average, you know, I’ve, I’ve got private lenders that have only $50,000 with me.
Jay Conner [00:05:32]:
I’ve got other private lenders that have over $1.25 million with me.
Mike Zlotnik [00:05:36]:
Wow.
Jay Conner [00:05:36]:
And of course, their investment capital is spread over different properties. You know, one property may only have $250,000 or $300,000 of Private Money lent against it. Another one may have $500,000. So I think part of the difference between what you’ve been seeing, Mike, and what I’ve been seeing is the asset class.
Mike Zlotnik [00:06:02]:
Yeah.
Jay Conner [00:06:02]:
Yeah, yeah.
Mike Zlotnik [00:06:04]:
Understood. So you, you’re talking about mostly fix and flip projects?
Mike Zlotnik [00:06:08]:
In residential houses?
Mike Zlotnik [00:06:10]:
Just basically some kind of investment houses; maybe they will be sold to owner-occupied or maybe sold to an investor at the end of the day, but they are still residential properties in a fix-and-flip type of environment. Hard money loans, that’s the best way to describe it. You’re calling it Private Money or hard money; they’re interchangeable.
Jay Conner [00:06:30]:
Yeah. Yeah. Most of the hard money that I’ve been exposed to is still institutional money where you’ve got a broker that’s loaning that out. And with Private Money, as I say, you know, we’re talking a one-on-one transaction with no broker in the middle. Yeah.
Mike Zlotnik [00:06:48]:
So to you as a borrower, Private Money is less expensive because you’re not dealing with a middleman.
Jay Conner [00:06:56]:
Yeah. It’s 8%, no points.
Mike Zlotnik [00:06:58]:
So that’s less expensive than the hard money. So if you’re borrowing at 8% and no points, that is significantly cheaper than hard money, which would be, let’s call it 12% in this environment and a few points.
Jay Conner [00:07:11]:
Exactly. Big difference. Yes.
Mike Zlotnik [00:07:13]:
So that makes sense. And then essentially you teach people part of your programs how to go raise that money from private folks who don’t know about how they can get an 8% yield. It sounds way better than what the bank pays you. Right. Right. You just give us a standard spiel. How do you, how do you talk to them? But your spiel is very simple. It’s Private Money, private real estate secured by the first deed of trust, the first mortgage, right? Just remind folks.
Jay Conner [00:07:43]:
That’s right. And so, you know, where do you find these people? Well, there are 3 categories of where these people are. The first category is your own contacts. They’re in your cell phone. Um, you’ve got really 3 categories: your social circle, which does include coworkers if you have a W-2 job. And then there is your professional circle, you know, CPAs, real estate attorneys, uh, realtors, uh, et cetera, professional circle. And they are gatekeepers of money. So those end up being great referral sources.
Jay Conner [00:08:18]:
And then the 3rd circle is, uh, your service circle. Who do you see people all the time that you’re giving money to? The owner of the dry cleaners, uh, you know, where you’re buying your cars from, et cetera. So those are your, those are your current contacts, right? The second bucket is what I call your expanded warm market. Well, if you wanna scale your business, you’re gonna run out of your own contacts sooner or later. So how do you expand those contacts? So I teach my students all across the nation how to blow up your network. One great way to do it is to get involved in a local Business Networking International chapter, also known as BNI. Ivan Misner created that back in the 1980s. And being involved in those groups, those people are looking for leads, and they’re looking to give you leads as to who you’re looking for.
Jay Conner [00:09:07]:
So as a BNI member, I mean, this is not a social network; that’s secondary, but it’s to do business. So I’ve gotten millions of dollars from being an active member in BNI, where my fellow BNI members would refer me to potential, uhh, lenders that are looking for a higher rate of return than less than 3% at the local bank in a certificate of deposit. The third category of private lenders is existing private lenders. These are individuals that are already loaning money out on real estate. And of course, for those people, I’m not going to be educating. They, they’re already loaning money out. They know what Private Money is. So it’s interesting.
Mike Zlotnik [00:09:48]:
Stop you for a second. Let’s just dissect this a little bit. So if you, again, BNI, I’ve heard of the BNI. I’m not sure whether it makes any sense in every market, but it sounds like where you are, it’s an effective, efficient way to connect with folks that might help you bring capital. The other quick question: people who are professional lenders today already, don’t they charge more than an 8% interest rate? Yes.
Jay Conner [00:10:14]:
Yes. So you’re not going to be, you’re not going to be offering 8% there. Like when I offer 8% to people that have never heard of this world, then all they’re comparing 8% to is what they can get in the local bank, which is more than twice, more than double. Right. But existing private lenders, that’s going to be a negotiation conversation. That’s going to be, what are you accustomed to getting? And et cetera. 70% of account holders at self-directed IRAs, they want to lend money out. To, you know, real estate investors.
Jay Conner [00:10:45]:
And so most of those people are going to be wanting 10%, 12% in that area, along that line. And a lot of them are not going to be charging as much as hard money, but it’s going to be, it’s going to be in between the private lenders that didn’t know anything about it and an institutional hard money lender that’s a broker.
Mike Zlotnik [00:11:07]:
Yeah, that’s, that’s a very simple approach, of course, talking to existing lenders, and there are plenty of smaller lenders in every market, right? So there are plenty of non-national players. Obviously, with national players, you’re dealing with almost a corporate multibillion-dollar fund or a hundreds-of-millions-of-dollars fund. Obviously, their own sphere of influence. I could agree with you 100%. That’s one thing that we all should do better: be able to contact our friends and family and tell them what we do. And so how do you, how do you tell them? What’s your story? How do you let people know whenever you connect? How do you sell them without selling?
Jay Conner [00:11:40]:
Exactly. So if I’m just having a casual conversation, if I’m having a coffee or lunch with someone or whatever, then what I do is it’s, it’s just part of your, your visit. It’s just part of your connection. And so the first thing that I do is diagnose whether they even have a problem. You know, the definition of malpractice is offering a prescription before there’s a diagnosis. So here’s one way I diagnose, Mike. Let’s just say you and I are having a visit, or we’re having lunch, or we’re doing a coffee, or we’re at the water cooler at the day job. And here’s what I would say.
Jay Conner [00:12:19]:
I’d say, by the way, Mike, with what’s going on in the investment markets these days, it’s a little crazy. What are you investing in, if anything, that’s giving you a high rate of return? That’s my question. That was just a direct question. I’m diagnosing. Are you happy with your investments if you’re investing in anything? Well, your answer to my question is going to give me the answer right away as to whether we should have a further conversation about— I might have a solution for you. So if you give me a sigh and say, ” Oh man, Jay, my 401 is going nowhere. Or you’re disappointed in, like, you can only get less than 0.5% in a savings account at the local bank, then I just diagnosed- you gave me your own answer that you might, could, you know, be interested in some higher rates of return. And then I could say, then my answer or my follow-up statement to that would be something along the lines of, but you know, I got something you might not have ever heard about.
Jay Conner [00:13:15]:
I’m doing these real estate deals. And what’s the interesting thing is really not the deals. But it’s how I’m getting them funded. I’m paying people insane high rates of return, uh, that are backed by. Uh, it’s safe, and it’s secure. Um, would you be interested in hearing about how you can earn high rates of return safely and securely from what I’m paying all my investors? And if they’re interested, great. Now, on the other hand, when I diagnose, and I say, what kind of rates of return are you getting, or how are your investments going? And they say, yeah, man, I got 15% last year. I’m not going to even bring up Private Money.
Jay Conner [00:13:50]:
I’m going to say, wow, that sounds great. I want some of that 15%. Where are you getting 15%? So there’s no begging, there’s no chasing, there’s no selling. There’s just finding out if there’s an opportunity that they might be interested in to earn more money than they are. And then there’s private lender luncheons. I’ve raised $969,000 at one private lender luncheon. Where I invited 20 people to lunch, had my CPA, my real estate attorney, my realtor, et cetera, there, fed them lunch at the nice Dunes Club there at the beach. And, um, I had a 30-minute presentation on what Private Money is and how my program works and, and, you know, what they can expect in returns.
Jay Conner [00:14:35]:
And then they just- I have an interest sheet that I hand out at the end of that lunch. And so, you know, in 90 minutes I can expose 20 people to it. In the same length of time that I could, you know, just one individual. So again, it’s all about having the right mindset, and that’s it, Mike. New capital raisers ask me all the time. They say, Jay, what do I need to do first? What do I need to do first to start raising capital? First thing you gotta do is you gotta own the real estate between your ears and get it straight in your mind that you’re not chasing people or trying to talk them into anything. You’re just offering a possible solution. to them earning higher rates of return safely and securely.
Jay Conner [00:15:12]:
Um, and you, and you’re, and you position yourself as the expert. Again, 47 private lenders never heard of this world. And, uh, they’re just ecstatic that they’re earning these kinds of rates of return. Yeah, Jay, absolutely.
Mike Zlotnik [00:15:26]:
I like the starting point. You’re asking them the question, what are they investing in that’s giving them good returns? Right, right. That, that gets them to open up. Fortunately or unfortunately, a lot of people have been doing really well. It’s kind of interesting. So the times that approach when they were making half a percent or 1% are long gone, right? Most of the banks pay now, let’s call them 3.5%, in some cases, you know, 4%. And on the stock market front, on a traditional basis, the markets have been on a tear. That’s exactly what I mentioned earlier.
Mike Zlotnik [00:15:57]:
So that’s why it’s gotten partially harder because you gotta go find those people that complain about not getting good returns. And that’s 1/10 of what it used to be because when the markets were poor performing, then it just shifts. It goes with the weather, right? It’s a season. This season for capital raising, we are in a deep freeze winter in a manner of speaking. The other quick question: I don’t know if you ever thought about this. Have you ever talked to your people who invest only traditionally, first in secured mortgages? Are they open to some commercial real estate opportunities that are not just first-lien mortgages? In other words, we are seeing wonderful industrial open-air retail deals, and they are, you know, the big difference is this. I’ve compared and contrasted; I mean, I’d love to hear your thoughts. I’ve compared and contrasted: where do you get high income in real estate? There are only 2 buckets, primarily 2 buckets.
Mike Zlotnik [00:16:57]:
Bucket number 1 is exactly what you’re doing. It’s Private Money, private credit, first lien lending. That’s just basically the safest place to be. And you get your yields, let’s call them from 8% to 12%. They could be a little more, a little less, but I’m using that range somewhere around probably 10% on average, plus or minus. It’s generally secured, and it’s generally current income. That’s all you get. So if you’re investing self-directed IRA money, it’s really happy.
Mike Zlotnik [00:17:22]:
If you invest in cash, it’s taxed at the highest tax bracket because it’s current income, right? Interest income is taxed at ordinary rates. And then you go to traditional real estate, owning real estate. And then the deals where you can get really good yield are what we do in industrial and open-air retail because they get bought at the cap rate that is significantly higher than the cost of the mortgage. So we usually use a 2% positive difference or positive spread. Say if we are buying an industrial property at an 8.5% cap rate, its unlevered rate of return is 8.5%. Now you lever it with 6.5% debt or 6.25% debt, you have really strong cash flow. Your cash flow can often be close to the Private Money, and then you have a depreciation shield. Depreciation shields you from taxes for many years.
Mike Zlotnik [00:18:14]:
And on top of that, you have some forced appreciation through rent growth, rent escalation clauses. The reason I mentioned this is, what do you think? I just love to hear because in my head, private credit is Private Money is wonderful, but there’s something potentially a little better for some folks who can get a little more comfortable with an equity investment. And by the way, the equity investments are very conservatively leveraged, like 65%. It’s funny, 65% is a magic number. If you’re lending money, you want to be at 65% leverage, because that’s what makes it conservative. Right. And on the other side, if you’re an equity player, if you are at 65% leverage, that’s also conservative to own a property because you’re not taking too much leverage. What do you think?
Jay Conner [00:18:57]:
I think so. I can only speak to the private lenders that are loaning money for my business and also loaning money to my students across the nation. So all they’ve been exposed to is the asset-backed, what I’ve been talking about. And the reason it works so well is because it’s simple. It’s very simple to understand. So would these people be also interested in other opportunities like you’re talking about? And the answer is yes, if they can understand it, right? If they can understand it and it’s presented simply and the trust relationship is there. That’s, that’s one reason we get so much money so quickly is we establish the relationships first before pitching a particular deal.
Mike Zlotnik [00:19:47]:
That’s given, by the way. That is given. Know, like, and trust must exist before you can ever raise a dollar. Without it, you can never get a dollar.
Jay Conner [00:19:54]:
That’s right. That’s right. So as long as that relationship is there, the trust is there, and then they understand how this works. Then, uh, then the pieces are in place.
Mike Zlotnik [00:20:07]:
Yeah. I like how you think. You, you have an incredibly simple way of thinking, but it’s incredibly practical. So, uh, it’s the, uh, you build authority, credibility, expertise, you build trust, and then simple, simple solution. The more complicated it is, the harder it is to understand, and a confused mind always says no.
Jay Conner [00:20:27]:
Exactly. I was gonna say a confused mind never takes action. Well, actually, uh, not doing something is an action.
Mike Zlotnik [00:20:34]:
Well, no, it’s an automatic no. I mean, it’s kind of funny. Most of us in our lives, we learn the power of no because you have to be saying no way more often than yes. Otherwise, it’d be a lot of, you know, you would never have enough time around the clock if you keep saying yes to everything, and you would never have enough money if you keep throwing money at everything.
Jay Conner [00:20:52]:
That’s right.
Mike Zlotnik [00:20:53]:
So you gotta be, you gotta be very selective about what you do with your time and what you do with the money.
Jay Conner [00:20:58]:
Absolutely.
Mike Zlotnik [00:20:59]:
So talk a little bit about your mastermind, your events. You run some events; you have a book. What do you- how do people reach out, and what kind of education would they receive when they reach out?
Jay Conner [00:21:18]:
Sure. Thank you, Mike. So I’m gonna give everybody listening 3 ways you could take advantage of all 3 for us to connect. And for you all to also learn how to raise a lot of Private Money very, very quickly. So I do this event, and my next one coming up is right around the corner. So when I give out this URL, it’s a special URL, and it will give you all the details of the event. So the event is called the Private Money Conference, the Private Money Conference. And I put this event on 3 times a year.
Jay Conner [00:21:50]:
The next one is coming right around the corner, er and I’ll go ahead and give out the URL. So the URL is www.JayConner.com/Event.
Jay Conner [00:22:03]:
And it’s a 3-day event. Of course, there’s got a, it’s a lot of, um, education on raising Private Money, but I also do the whole A to Z thing. We do a bus tour where we go out into the field and actually look at the houses and the properties that we’re doing, looking at properties that we haven’t started the rehab on, look at other properties that we finished, and now they’re just going onto the market for sale. And you meet my team members, how I run this business on autopilot in less than 10 hours a week. You meet my realtor, my real estate attorney, my interior designer, my general contractors, and how we all work together to make this business run. Secondly, um, I teach how to find deals in this very, very tight market where there’s very, very little inventory now. And, uh, how do you find these deals? I also teach how to sell any house in 3 days or less, never get stuck with a house. And then how to automate this business.
Jay Conner [00:22:57]:
It’s a $3,000 event, but because you’re here on Tempo Funding with Mike, I’m gonna give you that link I just gave out. You get to come for a measly $97 registration fee. That’s it. And that’s to reserve a seat for you and yourself. So again, you can check that out at jayconner.com/event. Secondly, I’ve got a brand new Private Money script collection that you can download for free right now here immediately. And, uh, you can go to www.JayConner.com/Scripts. That’ll get you the Private Money script right there immediately.
Jay Conner [00:23:36]:
And then my national bestselling book that you referred to, Mike, Where to Get the Money Now. Um, don’t give $20 to Amazon. You can go to www.JayConner.com/Book. I’ll autograph it for you. I’ll express mail it to you. And it walks right through how I go about raising Private Money without ever asking for money.
Mike Zlotnik [00:24:01]:
Jay, thank you for sharing the special offers to the audience. But I’ll ask you a quick question on one of those things that you mentioned. So how do you sell a house in 3 days? I’m just curious. Of course, if you could price it low, super low, and you could sell it in 3 days, just give the audience a little bit of the color because it’s an interesting topic. Some people get stuck; they overprice, and then they— nothing happens for a while.
Jay Conner [00:24:23]:
Sure. So this is a program I put together where we have a, uh, a 1-hour sale at the house. And the exit strategy is selling that single-family house on lease purchase. So you get to set your price. Price is non-negotiable. And you have— we’ll have 30 or 40 people inside the home on that Saturday morning. And they’re all applying and, uh, you know, giving over their information. Of course, only one person’s gonna get it.
Jay Conner [00:24:54]:
Sometimes we will actually put the down payment up for bid as well. And so then we, we force them into credit repair, and we help them get their credit ready for a mortgage. And so then we’ll typically cash them out within 12 months or so. So the exit strategy, and the reason it’s 3 days or less, is that you only need Thursday, Friday, and Saturday morning on Facebook that you’re posting this live event on Facebook. And then they show up. We end up having a frenzy of people every time because almost 80% of the people in America can’t even go to the bank today or the mortgage company and get a mortgage, but they want to own a home. So we’re giving them a pathway to homeownership.
Mike Zlotnik [00:25:38]:
Yeah. Interesting. So you’re selling essentially a property that you rehabbed, and you bought it, did a fix and flip on it, and now you need to sell, and you’re looking to sell it to the maximum price. And, interestingly, you’re selling it on lease, an option to buy versus having them try to get an FHA loan or VA loan or USDA loan, wherever the property is at. Well, or—
Jay Conner [00:26:05]:
The reason they’re coming to this opportunity is that their credit scores have got to be repaired. They can’t even qualify for FHA or VA, but they’ve got money to put down. And most of these homes that we sell like this, we don’t even do a full rehab on it because if that house comes back, I don’t want to have to do a full rehab on it again. So a lot of times we’ll buy these homes on terms, subject to the existing note, seller financing, and then turn right around and sell these homes on terms. Say, as I said, with lease purchase.
Mike Zlotnik [00:26:37]:
And the— yeah, that makes sense. If you locked it up on terms, you could sell it on terms because you’re creating arbitrage essentially. But that’s an interesting way to put it. It’s not for every property, not for every house, but for certain situations it can make a lot of sense. Absolutely.
Jay Conner [00:26:50]:
That’s it.
Mike Zlotnik [00:26:51]:
Jay, thank you for sharing the book, the mastermind, the events. Any final thoughts? Any final comments? Any good book you recommend other than the book you just recommended? Sure.
Jay Conner [00:27:03]:
Well, one of my favorite newer books not written by me is by Dr. Benjamin, and the title of that book is Be Your Future Self Now. Be Your Future Self Now. Uh, we heard, uh, Benjamin speak, you know, at one of our mastermind meetings, uh, and he was phenomenal. This is a great book for starting to live your future life now.
Mike Zlotnik [00:27:26]:
I guess it’s all about changing habits, and whatever you think is gonna be the future, you gotta start now. And it’s, it’s kind of funny that you could, in 2 to 3 weeks, you could adopt any habit you want as long as you make it work. I don’t know if that book is that, but I’ll probably get a copy and take a read as well. So thank you.
Jay Conner [00:27:45]:
You’ll love it, Mike. You’ll love it.
Mike Zlotnik [00:27:46]:
Thank you for coming on the podcast. And we’re recording this in spring. Enjoy the spring and the summer.
Jay Conner [00:27:52]:
All right. Thank you so much.
Narrator [00:28:01]:
That’s www.JayConner.com/MoneyGuide, and download your free guide that shares 7 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.