Chaos Or Opportunity: Which Will It Be In 2023? | Raising Private Money With Jay Conner

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Start raising private money now! The time to get private money for your real estate deals is when you do not need it.

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!

Today we have Tim Herriage!

Tim is definitely a veteran in raising private money. He has raised private money to invest in over 2000 houses and 1500 apartment units. In this video, he will share his strategies on how to find private money and how to get the money chasing you.

In addition to that, he will also reveal what you can expect in this crazy, chaotic real estate market from now through the end of 2023. So, If you want more private money than you can spend, don’t miss a second of this episode!

Tim Herriage is the Executive Director at RCN Capital and host of The Uncontested Investing Show.

Tim is a professional real estate investor and entrepreneur. For two decades he has been on the leading edge of the Real Estate Investor (REI) space. This includes being the Founder of the 2020 REI Group, Co-Founder and Managing Director of Blackstone’s B2R Finance (now Finance of America), Founder of the REI Expo, as well as a Franchisee and Development Agent for HomeVestors® of America.

He has completed well over $2 Billion in real estate investment transactions. These transactions include the acquisition of more than 2,000 houses, more than 1,500 apartment units, more than 100,000 square feet of commercial space, and more than 10,000 loans to real estate investors.

Tim is an active investor, purchasing single-family and multifamily properties throughout the United States while serving as Executive Director for RCN Capital. He built and sold six companies by the age of 40, most recently taking Finance of America Public with Blackstone.


0:01 – Raising Private Money with Jay Conner

1:06 – Today’s guest: Tim Herriage

4:01 – How Private Money Will Change Your Real Estate Investment Business

6:07 – Why Use Private Money On Your Real Estate Deals?

8:37 – Listen! 3 TakeAways From Using Private Money

11:27 – Where Do You Find Private Lenders?

14:38 – Why Use Private Money And Not Your Own Cash?

18:23 – Jay’s Free Money Guide:

19:08 – RCN Capital: We Are Not A Hard Money Lender Nor A Bank

22:19 – Chaos Or Opportunity: Which Will It be In 2023?

28:54 – Affordable Median Housing: The Opportunity In The Midst Of Chaos

30:00 – Connect With Tim Herriage:

30:35 – Tim Herriage Parting Comment: “Start Raising Private Capital Now! You Don’t Want To Look For Money When You Need It”


Private Money Academy Conference:

Free Report:

Join the Private Money Academy:

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 

What is Private Money? Real Estate Investing with Jay Conner

Jay Conner is a proven real estate investment leader. He maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal without using his own money or credit.

What is Real Estate Investing? Live Private Money Academy Conference

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Listen to our Podcast:

Chaos Or Opportunity: Which Will It Be In 2023? | Raising Private Money With Jay Conner

Jay Conner


The time to get private money for your real estate deals is when you do not need it for a real estate deal. So now is the time to get private money. I tell you, the worst time to raise private money is when you’re actually meeting the money for a particular real estate deal. Well, my guest in this episode of Raising Private Money has raised private money to invest in over 2000 houses and also over 1500 apartment units. My guest, Tim Herriage, knows how to raise private money. Tim’s going to share how to find private money and how to get the money chasing you. Tim will also reveal what you can expect in this crazy, chaotic real estate market from now through the end of 2023. So if you want more private money than you can spend, don’t miss a second of this episode. Let’s dive in right now.

Jay Conner


Welcome to another amazing episode of Raising Private Money. I’m Jay Conner, The Private Money Authority, and also your host here on the show. And I’m so excited to have a fellow mastermind member joining me here on the show today that has got a ton of experience when it comes to raising private money. And boy has he got the credentials and the experience. He’s the executive director of RC and Capital, and also the host of the Uncontested Investing Show. He’s a professional real estate investor and entrepreneur. For at least 20 years he’s been on the leading edge of the real estate investor space. Now this includes being the founder of a 2020 REI group co-founder, managing director of Blackstone’s Finance, which is now called Finance of America. He’s the founder of the REI Expo. He’s a franchisee, he’s a development agent for home investors, a ton of experience. And on top of that, he’s completed well over 2 billion. That’s with a b over 2 billion in real estate investment transactions, which includes 2000 houses, 1500 apartment units, more than a hundred thousand square feet of commercial, and more than 10,000 loans to real estate investors. So he knows how to raise private money and he knows how to loan it out as well. I’m so excited to have Tim join me on the show.

Jay Conner


Tim, you are an amazing individual when it comes to raising private money. You’ve raised a ton of private money. So let me ask you, what was your investing business like prior to private money that is if you had experienced prior to private money and how did private money change your real estate investing career?


Tim Herriage


I think before really building up my own stockpile of available capital, you know, you, you’re really at the whim of deal partners, joint venture partners, and 20 years ago the hard money lenders that wanted to charge you 14% and four. So, you know, it’s really started just at the bootstrapping level. So private money really in oh seven became a necessity for me.

Jay Conner


Same thing for me, Tim. I started full-time investing in single-family houses in 2003 and for my first six years, I relied on the local bank. That’s all I knew. I didn’t know anything else. I’d never heard of hard money, I’d never heard of private money. In fact, I had never even heard of buying houses on terms and all that kind of stuff. I thought you just went to the bank and borrowed your money. And I tell you, Tim, I remember it like it was yesterday. I called up my banker in January 2009. So you see, I didn’t know we had a global financial crisis going on until 2009 when I called up my banker and my line of credit had been shut down with no notice. Now I’ve got a financial crisis. Right, Right. And you know, my definition of coincidences is God’s way of staying anonymous.

Jay Conner


I learned about private money the very same day that I got caught off in the bank. I just called up one of my friends that were a real estate investor in Greensboro, North Carolina, and I said, How are you funding your deals? Cause he’d been cut off too. He told me about private money, and I learned about it. I put my program together and I put my teacher hat on it. I, I started teaching my network what private money’s all about. And, yeah, I was able to raise not 2 billion, but I was able to raise over 2 million in less than 90 days. So Tim, how did you start with private money? How did you start attracting people to, you know, loan you money for your real estate deals?

Tim Herriage


Well, one of my partners early in my business life, he was also a hard money lender and I would say more than 50% of his capital that he loaned out was, you know, to the, from the investors that had 30, $50,000 invested with him. So I watched him do it and I understood it kind of from observation and, and being near it. But there was an old man named, not was, he’s still here, he’s still a good family friend of ours. Clayton and Clayton just kind of became friends. He was an old high school f basketball coach. And when, when our bank line got called in April of oh eight, and we, you people listen to this thinking, well, I may never need private money. The most interesting thing, looking back at that period, if I may segue a little, is it was the ones that thought it, it was the good borrowers, the strong borrowers, the ones who weren’t behind on payments, the ones that had a hundred percent accuracy.

Tim Herriage


It was those of us that got our lines called and, and got our lines non-renewed. And ultimately, looking back now as an institutional lender, what I understand is the bank had a really good feeling that I would do what it took to get the loan paid off, whereas the ones that were already behind or had a 50% vacancy rate or, or, or maybe didn’t have the liquidity or credit we did, the banks gave them workouts, right? Like they got, they got, they got like lower interest and longer to pay. So when I look back at it happened almost on accident and I guess it’s an industry as old as time Jay. We had been doing a lot of business helping Mr. Clayton sell his personal house and said, Well, what are you gonna do with that half a million dollars? And he said I’m gonna stick it in the bank.

Tim Herriage


And we said, Man, you know, we could do this and, and pay you that. And he had never made 8% interest before in his life. And he’s, he was just more worried about actually preserving his capital with us since he trusts us than even the income, but the income turned out well for him. So, you know, when you really look at it, it was, you know, the Chinese symbol for chaos and opportunity are the same. And I feel like the chaos of oh eight pushed us towards the opportunity of raising that capital that time.

Jay Conner


Well, Tim, I just heard you say three takeaways that are worth pointing out to our listener, and that is, first of all, you said that the gentleman sold his house, he’s got this cash coming, he was gonna put it in the bank. Well, right, there’s a takeaway. I have gotten private money from private lenders that have just sold real estate and I knew they had cash coming to ’em. So, you know, one popular question and a common question I get all the time is, well, you know, who are the people that are loaning you money? And right, there’s a great category, people that are selling real estate that have cash coming in. Another takeaway I heard you say is he’d never received 8%, so you’re gonna pay him 8%. That’s exactly what I pay my private lenders today. And I’ll tell you to him, with the craziness in the market today of interest rates going crazy high, guess what?

Jay Conner


My private lenders are still at 8%. They’ve been at 8% since 2009. And the thing of it is, even though the local certificate of deposit for 12 months has gone from 0.17% for a 12-month yield to last week, it was 0.97%, still less than 1%. Where else are they gonna get 8%? Another takeaway I just heard you say is he trusted you. And so I would venture to say that you would agree with me when it comes to doing business with private lenders’ trust, even though you’re collateralizing the note and giving them a mortgage or deed trust. Would you agree? Trust plays into the factor rather strongly as to whether the private lender does business with you or not.

Tim Herriage


You know, Jay, in the 14 years that we’ve been doing business with Clayton, because he’s almost 85 now, we still cycle his money a couple of times a year. The only time that he’s ever kind of, I hate to say gotten swirly, but the only time I’ve ever really sensed hesitancy in him was when something didn’t happen the exact way I said it would on a property, right? We’re gonna buy this house, fix this house, sell this house, and pay it back in three months. And we always communicate in advance, but, it’s always been interesting that even after we’ve borrowed and repaid millions from him if your plans change, it increases their, I’d say not skepticism, but worry and decreases trust a little bit. And so my wife and I finally have gotten to the point where we just make sure it happens the way we said it was going to, whether the project goes or not that way or not. And that’s, that’s probably been the reason that we’ve attracted even more capital since, since then.

Jay Conner


Right. So back to that common question, I hear all the time, Where do you find private lenders? Well, I mean, you’ve got a huge network and so I know you can answer that question in more than one category, but how would you identify where, where your private lenders come from, either to invest in your fund or invest? Well, let’s keep it to the question of whether they’re actually investing in, you know, real estate itself as one of your private lenders. Where do you find them?

Tim Herriage


You know, the bulk of our investors in anything we’ve done has been local friends and friends of family and business colleagues, people that we respect and business here locally. I live in a town called Rock Wall. It’s to the east of Dallas. I, I think now though really and truly the bulk of the funds come from people that have just heard about us and because it’s just a referral source, it’s, it’s, we do right by people. And people like to brag, They like to go tell their friends, I’m getting 8% even though the CD’s half, half a percent. And then they, you know, people call you. So I, I think it all started, it’s been a waterfall effect of starting in locally with people that we already knew us and liked us and make, showing them how they could trust us and then just doing what you say you’re gonna do and then getting referrals.

Jay Conner


You know, what’s interesting about what you just said, Tim, is I’ve got the same experience. So when we started out attracting, raising private money, which by the way, I don’t know if you’ve done business this way or not, but I’ve never asked anybody for money. I’ve never asked them for money. They say, Jay, have you got, you know, eight and a half million dollars that you run around on different house projects, you know, all the time and you never ask for any, anybody for money? And the answer is, I teach ’em first what my private lending program is. I’ve never pitched a deal, I never talked to anybody about needing money or wanting money and I got a deal that I need it for. I already sound like I’m begging without even trying. But anyway, I had the same experience as you. So I’ve got, we’ve got four, my wife and I, we’ve got 44 private lenders right now that are funding our deals, Tim, and did you know, not one of them, not one of them had ever heard of private money and private lending and what it was, and none of them had heard of self-directed IRAs and how they can move retirement funds over to a self-directed IRA and then loan that money out and be a passive investor.

Jay Conner


Did you pretty much have the same experience with your private lenders?

Tim Herriage


Yeah, and I don’t know if any of them even know that they’re private lenders, honestly,

Jay Conner



Tim Herriage


People just really do think that Tim and Jennifer invest in real estate and they see what Tim and Jennifer do, and Tim and Jennifer pay them to use their money to help their business. I don’t even know if they realize their lenders.

Jay Conner


Yeah. Well you know, another question that I get every now and then I say, Jay, if you’re making all that money and doing all those real estate deals, which by the way, I don’t do that many, I do two to three single-family houses a month, Most of ’em we fix and flip now, but our average profits now in our little teeny towny area of 40,000 people is now $74,000 per flip. So that math works out. But they will, you know, another common question I get is, Well, Jay, why are you still borrowing private money for your deals? Why don’t you just use your own cash and you don’t, you know, you don’t have to pay 8%, you know, to somebody else? And of course, my answer and I wanna see what your answer is, my answer is, well, when I’ve got 20 projects going, I don’t want all my own money buried in my projects and be real estate rich and cash poor. What would your answer be to that, Tim?

Tim Herriage


My answer would be, to hop on over to Google and look up the oracle of real estate. It’s an interview. Warren Buffet did in March of 20. He bought a house in Laguna Beach, he took a $120,000 mortgage. And the CNBC lady the in the interview said, Why would you have taken a mortgage? Surely you didn’t need it. And Buffet said something that was very astute and I think summarizes my answer and feelings toward your question. He said, I guess I thought the interest rate was attractive and I could do it, I could make more with the money they loaned me than I paid them for loaning me the money. And he used the example that was in 1971 when he was buying Berkshire Hathaway very actively at $40 a share. So he extrapolated that to where he could have bought 3000 shares of Berkshire Hathaway with the $120,000 he borrowed. So conversely, from 1971 to 2017, that house was worth 11 million, which sounds like an amazing thing. It went from hundred 50,000 to 11 million. Well, the hundred and $20,000 he borrowed and he bought 3000 shares of Berkshire Hathaway ended up being worth 750 million.

Jay Conner


So, wow,

Tim Herriage


I don’t care how much money you have leverage, as long as the debt is cheaper than what you can make with the cash, leverage is always the best bet no matter how much money you have.

Jay Conner


Wow. You know, I never heard of that interview and I am for sure going to go listen to it. And the next time somebody asks me, Jay, why don’t you just use your own cash? I’m gonna say, Well, have you heard the interview with Warren Buffett called the Oracle of real estate? And I’m really gonna sound smart, actually, I will give you credit, Tim,

Tim Herriage


You don’t mean I was giving people also don’t understand why people like you and I spend our time teaching educators. I was speaking at a conference in Florida in September and I was looking for, I, I just literally sat down and googled best quotes about 30-year mortgages. I was just going through and looking for people that were smarter than me, more accomplished than me, more reputable than me that had talked about it. And I’m telling you, Jay, it was a two-minute and 54-second interview, it was like three minutes long and I was just like, man, I could just get up there and play that and not even have to speak.

Jay Conner


I love it. I love it.

Jay Conner


I tell you what, Tim, let’s give away a gift to our listeners about halfway here through this interview. I’m so excited, Tim. I just recently started and finished writing my new private Money guide, and it’s called Seven Reasons Why Private Money will Skyrocket your real estate business and help you build incredible wealth. And if you are interested in getting a lot of private money very, very fast and getting on the fast track to private money, you can download it for free at Now, in addition to all that, Tim, you raise private money, but you also lend out to real estate investors. So tell me about your capital fund and how that works and, you know, how our listeners can, you know, do bi possibly do business with your, with your company on loaning out money?

Tim Herriage


Yeah, so RC and Capital, we’ve done almost close to 5,000 loans this year, a little over 1.2 billion. And we’re a private lender, we’re not a hard money lender, we’re not a bank. We, loan money to real estate investors for single-family multifamily and mixed-use properties on a fix-and-flip long-term rental and ground-up construction. Now we do have credit guidelines. There’s a minimum credit score. We do have minimum loan amounts. We’re definitely nowhere as rigid as the bank we have, we’re nationwide, so we have a lot more coverage than your local hard money person. I like to think we fall kind of in the middle. We try to be very relationship oriented. So for instance, if you’re doing a fix and flip deal on your first deal, if it’s the first one you’ve ever done, you probably have to put 20% down.

Tim Herriage


If it’s the fifth one you’ve ever done, you probably have to put around 15 to 10% down. If it’s the 30th one you’ve done in the last three years, we can do zero down. So it’s, it’s, we, we grow the relationship with the customer. We don’t have really rigid lines and, and we’re, we’re a very large company that ha we always have the money to live. So I think we, fill the gap when people tap out on their private money with their lo with their local individuals, or maybe they have a larger opportunity than their private money database feels comfortable with. We like to fill that gap.

Jay Conner


That’s awesome. Well, you know, you are probably, well I would call you a hybrid lender. You’re not hard, you’re not private, you’re sort of, they’re in the middle. But other than now with my private lenders, it’s all no down payment. And in fact, when I’m rehabbing, I bring home a check right When I buy for, for the rehab, Of course, that’s not gonna happen in, in the hard money world, but you’re the only even hybrid lender that I have met and know that actually has a no down. I’m sure there are some others out there, I just haven’t heard of them. An actual no-down payment program for people that’s got experience. So, so Tim, what can you do for me since I’ve rehabbed and flipped over 450 houses?

Tim Herriage


Well, you know, I mean Jay, it’s all different, right? I mean, we have to look at liquidity, right? Because we require monthly payments. We have, we have to look at your down payments at the amount of, you know, how much debt you’ve got in place and you’re taking on, in, in, in, I mean, a guy like you, I’m pretty sure we could do up to 75 loans to value, a hundred percent loan to cost on both purchase and rehab. But we’re not gonna let you take that money home with you from closing.

Jay Conner


That happens in the, in the, in the true world of so. Well, that’s fantastic. Well, Tim, we are in crazy chaotic times and before we started the show, you and I were talking about how every time when chaos does come along, that also breeds opportunity simultaneously. So let me just open this up. Where do you see where we are today and where do you see us going in the next year or two? I know nobody’s got a crystal ball, but with your experience, I would listen to you ahead of a lot of other people.

Tim Herriage


I feel like the fed’s gonna go ahead and raise at least the next two meetings. I feel like mortgage interest rates may not go up that much because of the spreads between the 10-year treasury and the actual 30-year mortgage, they got really wide pretty early and normally they’re like one and a half percent above the 10-year. Right now they’re like two and a half percent above. And, and, and that’s primarily because of the fear of the bond market of kinda like where rates are going anyway. What that’s doing is it’s choking out the middle class and, in the middle class, the median home price, the lower middle home price, they are just not able to, they can’t buy. So it’s forcing them into renters, it the, I would call the stock market crowd, the vacation rental crowd, the high-end luxury crowd. They’re, they’re, they’re, they’re taking the beating so much in the equities markets and the rates are so high.

Tim Herriage


I think that’s pushing them a little bit farther down the ladder if they need to move. But anyone that doesn’t need to move right now isn’t going to move. And then ultimately Jay, you gotta look at the impact of these four years of super-low interest rates. I was reading the other day, 90% of active mortgages are below 5%. So it’s going to be hard to unseat those existing homeowners. And then you look at the fact that there’s no building going on right now, builders have all but stopped it, it, it’s, it’s worsening an all-time record in horrible supply has now gotten worse. So I feel like it’s gonna be a slingshot. The market is pulling back. I feel like it’s gonna get right back where it was sometime late next year once rates go down a little bit and once the sky isn’t falling, but we, we’ve got a crisis on our hands, Jay, there is just not enough shelter for humans. So I think if you are in a market where you can have median home price or median apartment price rent per square foot or monthly rent or below, I feel like you load the boat on that right now. Cause a lot of it’s on sale, a lot of it is turning over. So I feel like that is the opportunity that’s being created out of this chaos.

Jay Conner


You know, it was about two months ago maybe. No, no, no, it wasn’t. No, it wasn’t. It was more like four weeks to six weeks ago I saw a report and the report said 30 years, in fact, I know where I was. I was out in Las Vegas so it was less, so it was less than four weeks ago. The 30-year mortgage prior to rates starting to go up crazy. Like they had a 30-year mortgage that was $1,700 a month and is now $2,600 a month. And you know, that’s a big gap between who can afford 1700 and who can afford 2,600. And you know, with the way rates are moving, I mean the gap may even be, you know, more than that here in our local area in eastern North Carolina. It’s just, it’s like you got two polar opposite variables that are like pull, that are like pulling the real estate market two different ways and you just set ’em both.

Jay Conner


One is you got the crazy interest rates and you just got millions and millions and millions of people that just can’t buy that could have bought, you know, a year and a half ago. But then you look at the supply and the demand, we have no supply. I mean here in Morehead City, North Carolina, there are less than 10 houses on the market in the MLS for less than $500,000. So, you know, so I heard you say a moment ago, it’s like a slingshot. You think the values are gonna go back up towards the end of next year because you think mortgage rates are gonna start coming back down.

Tim Herriage


Yeah, because ultimately Jay, you hit on the ultimate metric is the number of homes sold at a certain price. And right now what you have is just the only thing selling is motivated sellers. That’s it. Otherwise, you, you, you don’t have your house on the market otherwise.

Jay Conner


Well, number one, if you sell it, as you said a moment ago, who wants to go from four and a half percent or 5%, you know, over 7% or whatever it is? And the other problem is where are you going to go right? Where are you gonna go even if you can’t afford it, where are you gonna go?

Tim Herriage


That’s, I mean that’s the, it is a massive tug of war right now between supply and demand and you know, the Federal Reserve, their entire strategy, it’s really what should happen. I agree with it. It demands destruction. The only way they can control prices is to destroy demand and cars, real estate, food, and energy are just huge drivers. The problem is, it’s, it’s, it’s only Harding the renters because there are just fewer houses available than we need, and every day that Delta grows.

Jay Conner


So you said it, but I want you to say it again. So where is the opportunity in the midst of this chaos,

Tim Herriage


Affordable rental housing? So 70 to 90% of the median home price, or 79 per 70 to 90% of the median rent amount for your market. So if the median rent for your market is $2,000 a month, I recommend you look at that 1400 to $1,800 rental. I believe those areas will still see very significant rent growth and the demand will be insatiable. There, there, there, there’s no way the US government would have to start building a hundred thousand projects a month to ever put a dent in the demand for housing. There are just not enough places for human beings in America to go.

Jay Conner


Yeah, makes a lot of sense. Tim. Wow. I could talk to you for hours. Let’s tell your website how people can get in contact with you for RCN Capital and, also what’s the best way for them to start to, you know, actually see, you know, what kind of business they could do with you. So give out your website contact info and what’s the best way for someone to get started?

Tim Herriage


Yeah, so RC and, check us out and sign up on our email list. If you have a property, you think about financing, hit me up. Hit us up. If you’re just wanting to stay connected, look up Tim on any of the social media. I’m there. I’m the only one I think, but I think that the biggest thing I wanna tell people to do is you don’t want to look for money when you need it.

Jay Conner


Ain’t that the truth? Yeah,

Tim Herriage


You’ve gotta look for money when you don’t need it. So if you’re, even if you’re just getting started, get to know me. Take Jay’s course, and start talking to your friends. You may end up having a friend that has a lot of money that has been researching this on bigger pockets for 25 years and has just been waiting for a dealer partner that was ready to take the run with it. That’ll be your number-one lender. So just, you gotta start having conversations, immerse yourself into the right crowds, and start raising capital now. Dry powder will win. I mean the opportunity that will be created in the next 12 months I think is going to be very substantial.

Jay Conner


I couldn’t agree with you more, Tim. And you know what I preach all the time because I did it and it works. And that is the money comes first. I tell people all the time what you just said, the worst time to be raising capital is when you need it for a deal. Like, you know, and I’m not gonna call any names Tim, but I have got a, I got a good friend who, who is very well known and this particular person teaches go get the deal, the contract, the money will show up. And I go, where?

Tim Herriage


Last was a 20 million multifamily deal that landed on me, that they were at the 12th hour and they had not been able to raise all their money. And I invested in multifamily syndications as I told you before, I, my group brought 5 billion, but they had to give up half of the general partnership because either that or they’re gonna walk away from their $500,000 non-refundable. And I hate to sound like that, but you know, the guy with the money gets the, is it can be the shark at the end of the deal. So you want, you wanna have that money lined up in terms agreed before you really need it.

Jay Conner


Absolutely. Tim, thank you so much for joining me on today’s show. It’s just been fantastic having you.

Tim Herriage


Well, thank you for having me, man. I’m always been a big fan of yours.

Jay Conner


Well, thank you, Tim. So there you have it, my friend. Go to, and you can also follow Tim Heritage on his social media. He spells his last name H E R R I A G E, Tim Heritage and he is all over the place on social. So there you have it. Another episode of Raising Private Money with Jay Conner. I’m the Private Money Authority. Wishing you all the best and I need your help. Yes, yours, I need your help. I need you to share this episode with at least just one friend that you believe would give it valuable information and inspire as well. If you’re watching on YouTube, by the way, be sure and click that bell so you don’t miss any more amazing episodes I really appreciate the five stars and the reviews. We’ll be seeing you right here on the next episode of Raising Private Money.