Hi Real Estate Investors!
In our latest episode of Raising Private Money With Jay Conner podcast, we delved into the strategies for raising and leveraging Private Money to maximize profits on every deal, without the need for traditional banks.
Jay Conner, joined by Chaffee Thanh-Nguyen and Crystal Baker, plus featuring insights from Banjo Camardelle and Benjamin Mayo, the episode covered key questions and powerful strategies for real estate investors.
Here are some of the highlights from the episode:
- The timeline for acquiring, rehabbing, and selling your first property after joining the platinum and mastermind coaching programs.
- Insights into using self-directed IRAs and retirement funds to attract private lenders to fund real estate deals.
- Understanding the importance of securing funds and providing protection for private lenders when investing in real estate.
- The role of automation in running a successful real estate business and why being tech-savvy isn’t a prerequisite for success.
The episode emphasized the essential role of Private Money and the systems and strategies that enable real estate investors to attract, secure, and leverage private funds successfully.
If you’re eager to learn more about leveraging private money and automating your real estate business, tune in to the episode now!
Remember, the money comes first in real estate investing, and with the right strategies and systems in place, you can achieve remarkable results!
Timestamps:
0:01 – Raising Private Money Without Asking For It
0:31 – Deals Happen All The Time, If You Are Willing To Work You Will Succeed
3:33 – Establish Relationships
7:15 – We Do Not Borrow Unsecured Funds
12:15 – Take Action: Key To Success
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It is available FREE (all you pay is the shipping and handling) at https://www.JayConner.com/Book
What is Private Money? Real Estate Investing with Jay Conner
http://www.JayConner.com/MoneyPodcast
Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal.
#RealEstate #PrivateMoney #FlipYourHouse #RealEstateInvestor
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How Fast Can You Close Your First Deal?
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 strategies to help you get the money because the money comes first. Now here’s your host, Jay Conner.
Jay Conner [00:00:29]:
Let’s see here. Next one. Okay, Chaffee. I’ll give you this one. How soon can I expect to acquire, rehab, and sell my 1st property When I am just now coming into platinum and mastermind coaching?
Chaffee Thanh-Nguyen [00:00:48]:
Yes. That is the answer, Jay.
Jay Conner [00:00:54]:
Does it depend does it depend on if they do what we tell them to do?
Chaffee Thanh-Nguyen [00:00:58]:
It depends on many things. Should I put my attorney hat on and say it depends?
Jay Conner [00:01:03]:
That’s right. That’s right.
Chaffee Thanh-Nguyen [00:01:05]:
That is a very loaded question. And, and and, yes, it depends upon whether they do what we tell them to do. And, if you were at the mastermind, and I know many of you were, I think the constant theme during the mastermind was to do what Crystal tells you to do the first time. Right? So, we heard that many times. The 1st time, not the 2nd or 3rd time after you’ve messed up. The 1st time. And it also depends upon your prior experience. If you’re brand new and have never done a deal and are transitioning from the corporate world, many of our students do have full-time jobs.
Chaffee Thanh-Nguyen [00:01:47]:
You know, that’s gonna be completely different than somebody that doesn’t have a full-time job and is working 40, 50, 60 hours in the real estate business. So, you know, the times vary, and I will tell you it that is that deals happen all the time. And if you’re willing to work this business and put forth the time and effort to do the business, then you will succeed. I do wanna add 1 final thing, Jay, which is something that you offer that almost nobody offers, which is a guarantee with your mentorship packages. Right? And the guarantee on the platinum plus and the mastermind packages is That if you do what we tell you to do and you follow the processes and the systems that Jay has already laid out for you, you’re gonna double your investment in the program. I’ve never seen any other coaching program or mentorship program that guarantees to double your investment within that period. And that’s in writing, and we’ve offered that since I started working with you, Jay, over, like, 10 years ago. And, you know, you won’t find anything on the Internet that says, oh, Jay is full of Crocker.
Chaffee Thanh-Nguyen [00:02:54]:
Jay is full of that or whatever because it works. Right? And the students know that when they do what Jay tells them to do, when they do what, you know, Crystal and I tell them to do, then they get results. And, and that you’ll show them the path, and you’ll show them the way. So, you know, I don’t know how else to answer that.
Jay Conner [00:03:13]:
I think you covered the bases. Well, now, down here on my screen, I also see Banjo and Erica, longtime mastermind members, graduated platinum plus. For those of you that haven’t met Banjo and Erica, they’re out there in Mississippi, a small town So I’m giving you the next question there, Banjo and Erica. One of the moments, from the event What? They attempt to crack the whip there in the chat. I think that’s for you, Jeffy. One of the moments Sarbanjo and Erika was, let me find it here. There are additional places where private lenders can get money to do business with us And invest in our deals. Home equity lines, brokerage accounts, whole life insurance companies, and self-directed IRAs.
Jay Conner [00:04:09]:
So Banjo and Erica, speak to that. How is it that, I know I’m asking you a 90-minute presentation question, so You have 90 seconds to answer it? But, what’s the gist of how is it that, people can use self-directed well, let’s just do self IRAs. How can people use self-directed IRAs and their retirement funds to, invest and loan you money in their deals?
Banjo Camardelle [00:04:34]:
So there’s a handful of companies that the IRS approves, in the United States called third-party custodians, And those are the companies that have been approved to kinda manage and look over someone’s, retirement account. However, the big difference with these things is that they’re self-directed. When we say self-directed, it means truly self-directed so that, know, if you have if you move your retirement funds over to, the company that we and you also like to use because of the customer service, Quest Trust, If you don’t direct them to invest your funds, then it just sits there. And so you truly self be can self direct it in all kind of, all sorts of things. And a lot of people who use those types of, vehicles lend money in real estate being that real estate is one of them, You know, most proven asset classes in America.
Jay Conner [00:05:30]:
Excellent. So a lesson to take away from that, and obviously, the Sun has gone down here in Morehead City. I need to turn up my light here in a second. I’m getting darker by the second. But, anyway, one of the lessons learned there is, for example, over half of our private lenders are using their retirement funds to fund our deals. But if I didn’t have a relationship with, Quest Trust out of Houston, Texas to introduce my new private lenders to, to get their retirement funds moved over, I’d be missing out on over half of our retirement funds or or half of our funding that we’re able to use. So here’s the rider downer. Establish a relationship with QuestTrust .com out of Houston, Texas.
Jay Conner [00:06:20]:
So then when you’re talking to a new potential private lender in your warm market, you and they’ve got retirement funds that they’re not happy with, Then what can you do? You can introduce them to, in fact, the person that we use most of us, his name is Colin Taylor. He spoke at the live event a couple of weeks ago. And, he’ll help get funds moved over from your private lender that’s got retirement funds, to where they can start, funding your deals. Thank you for sharing, Banjo and Erica, on that right there. And then I saw Ben Mayo here a 2nd ago. Ben, there you are. Say hello, Ben.
Benjamin Mayo [00:07:04]:
Hello, everyone.
Jay Conner [00:07:06]:
Ben’s in Tarboro, North Carolina. He’s a graduated platinum. He’s also, in Mastermind. Here is another uh-huh moment or a question that came in. And so, Ben, I’ll let you take this question. Do we borrow unsecured funds from our private lenders? And if not, why not?
Benjamin Mayo [00:07:32]:
No. That’s a good question. No. We do not borrow unsecured funds. All our funds are secured, by the real estate, and all the closings are done by a Qualified real estate attorney. None of our properties none of our private lenders, well, out there unsecured. They get, put on the insurance as a mortgagee. If the house is purchased with that money, they also get, added to the, can’t think of
Benamin Mayo [00:08:08]:
it’s right now. They get added to the,
Benjamin Mayo [00:08:13]:
just lost it.
Jay Conner [00:08:17]:
Are you Are you talking about, adding them to the insurance policy as a mortgagee?
Benjamin Mayo [00:08:20]:
I got that, but the other one is the, Yeah. Did you get a deed? Get a deed at us and a, mortgage?
Crystal Baker [00:08:29]:
And Additionally additionally insured on title insurance.
Benjamin Mayo [00:08:32]:
Title insurance. That’s it, Crystal. I couldn’t
Jay Conner [00:08:52]:
That’s exactly right, Ben. So all the notes And promissory notes that we are, putting in place for our private lenders, it’s all being backed by the real estate That way you’re purchasing. Absolutely. Let’s see here. Chaffee, let’s give you one.
Chaffee Thanh-Nguyen [00:09:14]:
Hey. Hey, Jay. Before we move on, can I just add something to what Ben said? And, Sure. And that is that There’s nothing to prevent you from doing unsecured funds. Right? And so you can and people have in the past. And I believe that what sets Jay’s program, what sets the students that we work with, apart from any other real estate investor or other, real estate investors out there is that we do have this system, and this system is designed to protect the private lender. And part of that is having everything secured. Part of that is working with professionals, and part of that is having the right documentation to make sure that they’re safe and secure, and all that packaged together is part of what attracts people to you as a private lender or as an investor, for you to, raise Private Money.
Chaffee Thanh-Nguyen [00:10:08]:
And so you have this system that Jay’s put together that says, hey. You know, my focus is to make sure that your money is protected, and this is how we do it, and that’s all part of it. Whereas I have known some Private lenders or some investors in the past, and I’m guilty of this. Before I met Jay, I had no idea where, you know, I would, like, People would go up and say, hey. Send me a $50,000 check. You know? Here’s my account number, and it’s completely unsecured. And, you know, that happens all the time, and I’m not saying That’s bad. I’m just saying that what sets Jay and the students apart that we work with is that we’ve put together this entire system of protection, to make sure that the private lender’s money is protected regardless of what happens to you or the property.
Jay Conner [00:10:56]:
Yeah. And along with that, for example, my 89-year-old mother just turned 89 years old. She is one of my private lenders. And, she was at the event a couple of weeks ago on the private lender panel and at the VIP. And, look, Here’s the point that I made at the event. Even with all the notes that I’ve done with my And so, that’s important. As Chavy said, to look after your private lenders. Now, Chaffee, You were born with a thinking brain.
Jay Conner [00:11:57]:
You were born an analyzer. Right? You’re on mute, by the way. So
Chaffee Thanh-Nguyen [00:12:03]:
I was I was gonna say, yes, I was born, Jay.
Jay Conner [00:12:05]:
Yes. Yep. And so here’s a, Here’s a question that was submitted at the event. The question is, how techie Do you need to be to run this business with automated systems? Now before you answer that question, Chaffee, you know, one automated system that use is our CRM that we recommend that keeps up with all your sellers, all your buyers, etcetera. But how techie do you need to be, to be successful in this business?
Chaffee Thanh-Nguyen [00:12:45]:
Well so, Jay, you are always asking me how to edit PowerPoints.
Jay Conner [00:12:52]:
I sure don’t know how to edit a PowerPoint.
Chaffee Thanh-Nguyen [00:12:55]:
So even if you don’t know how to edit a PowerPoint, You can run a multimillion-dollar real estate company because that’s exactly what Jay does. So, Jay, I think you’re one of the least techie people I know And also one of the most successful people I know in this
Jay Conner [00:13:11]:
I don’t even know I don’t even know what techie means.
Chaffee Thanh-Nguyen [00:13:16]:
Right. So You know what? The bottom line or one of the bottom lines that, we do have people know is the the MAO calculations. Right? The Mayo calculation. However, you wanna say it, which is the maximum allowable offer? And so, you know, as long as you can calculate that and you stick with the math, and you work with the right people, you can run this business. So you can be super nontechie. And I will also say and I will also caution you that if you’re too techie, if you’re too analytical, then you end up falling into this category of what we call analysis paralysis, and You end up not doing anything. And by the time you come around to doing something after you’ve analyzed the heck out of everything 10,000 different ways, The deal’s already gone because other people have made offers and gotten the deal from underneath you.
Chaffee Thanh-Nguyen [00:14:09]:
So, you know, you could be super techie or you could be super techie, and the bottom line is you gotta take action. You have to work with the right people. You have to build relationships, and you have to make offers. And if you’re not making offers, you’re not doing deals.
Narrator [00:14:24]:
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 Jay Conner .com/moneyguide to get your free guide. We’ll see you next time on Raising Private Money with Jay Conner.