*** Guest Appearance
Credits to:
https://www.youtube.com/@TheBigPictureBlueprint
“Raising Private Money with Jay Conner”
https://www.youtube.com/watch?v=oYvFywuPL88
In the ever-evolving world of real estate investment, securing funding can often be the make-or-break factor for success. Between complex financing options and stringent lending requirements, many investors find themselves in search of alternatives that offer more flexibility and potential for profit. This blog post delves into the insightful discussion between Jay Conner, Dan Haberkost, and Mason McDonald revealing the significant advantages of utilizing private money over traditional hard money lenders. Follow along as we explore the strategies to effectively raise private money, the benefits it provides, and how you can leverage these insights to maximize your real estate deals.
What is Private Money?
Private money involves raising capital from individual investors rather than institutions or traditional lenders. Jay Conner, a seasoned real estate investor, explains that he has successfully secured private money for his deals since 2009, paying his private lenders an annual percentage rate (APR) of 8%. Unlike traditional lenders, private money lenders offer more flexible terms and often provide 100% of the purchase price and rehab money, based on the property’s after-repaired value.
Why Choose Private Money Over Hard Money?
**No Hidden Costs:**
Private money comes without the extra-associated costs that are common with hard money lenders. This includes origination fees, extension fees, junk fees, or appraisal costs.
**Flexibility in Terms:**
Private lenders typically do not require strict credit score checks, making it easier for investors to secure the necessary funds.
**Lower Interest Rates:**
While hard money lenders may charge interest rates upward of 15%, private money has a more appealing 8% rate. These savings can significantly impact the overall profitability of a real estate deal.
**Faster Access to Funds:**
Jay emphasizes the importance of having quick and straightforward access to capital, allowing investors to seize opportunities promptly. Private lenders can often expedite the funding process compared to traditional banks.
How to Secure Private Money
**Building Relationships:**
One of the pivotal strategies Jay Conner highlights is the importance of personal relationships. He suggests targeting your existing network—church members, rotary club peers, and business network groups—educating them about private lending and self-directed IRAs.
**Transparency and Trust:**
Proving your performance to new private lenders is crucial. Jay suggests using their funds first to demonstrate successful deal execution, thereby building trust and credibility.
**Leveraging Personal Networks:**
Jay shares an anecdote about a conversation at church that led to onboarding retired school teachers as private lenders. It’s a reminder to capitalize on the potential within your immediate circle, where you might find people looking to invest their funds more effectively.
Raising Private Money Strategically
**The 7-Day Private Money Challenge:**
Jay underscores the importance of structured learning and highlights the 7-Day Private Money Challenge—a master class designed to teach realistic methods to raise $500,000 in private money. This training is interactive, easy to follow, and helps investors understand the nuances of securing private funding.
**Quantifying Your Needs:**
Being clear about how much private money you require for your deals is essential. Jay outlines an exercise to determine your “freedom number,” which is the amount needed to cover expenses and achieve your desired lifestyle. It’s crucial to plan and fund each deal adequately, ensuring you can comfortably meet your investment goals.
Best Practices in Raising Private Money
**Marketing and Social Media:**
Utilizing various marketing channels like podcasts, books, and social media can amplify your reach. Jay suggests sharing success stories and being open to talking about money on these platforms, which can attract potential private lenders.
**Understanding Legalities:**
When raising private funds, it’s essential to use appropriate legal language and be aware of SEC regulations, ensuring all interactions and agreements are compliant to avoid legal complications.
**Scalability:**
Finally, Jay encourages investors to think big but start small. Begin with raising smaller amounts and progressively aim for more significant sums as you build confidence and experience in managing private money.
Conclusion
Private money presents a robust alternative for real estate investors seeking flexible and profitable financing options. By fostering personal relationships, being transparent with potential lenders, and utilizing strategic marketing, you can effectively raise and manage private funds for your real estate ventures. As Jay Conner emphasizes, knowing how to secure funding before embarking on a deal is crucial—ensuring that the money always comes first. Embrace these insights, and you’ll be well on your way to unlocking the full potential of private money in your real estate investment journey.
10 Lessons Discussed this Episode:
- Raising Private Money
Learn strategies for leveraging private money to significantly boost profits on real estate deals. This includes understanding the crucial concept that securing funds is the first step in successful investments.
- Money Chasing You
Discover how to attract investors so they actively seek you out, eliminating the need to beg, persuade, or sell. Jay Conner shares actionable tips on making money chase you.
- Introduction and Setup
Introduction to the episode featuring hosts Dan Haberkost and Mason McDonald, and guest Jay Conner. The setup emphasizes the importance and insights on raising private money for real estate investment.
- Private vs. Hard Money
Detailed comparison between private money lenders and hard money lenders, discussing key differences in terms, fees, interest rates, and credit score requirements.
- Understanding APR Rates
Insight into Jay Conner’s rationale for maintaining an 8% APR for private lenders since 2009, and how this fixed rate benefits both lenders and borrowers.
- No Credit Score Requirement
Understand the advantage of private money lenders not needing credit scores for loans, contrasting this with the stringent requirements of hard money lenders.
- Zero Extra Fees
Explanation of how private money lending eliminates extra costs like origination, extension, and appraisal fees, thereby increasing net earnings and making deals more attractive.
- Secured Private Money
Importance of securing private money through promissory notes backed by deeds of trust or mortgages, especially for single-family home deals, to ensure investor confidence.
- Performance Proof
Strategies for building trust with new private lenders by proving performance through transparent deal deployment timelines and initial successful ventures.
- Seven-Day Masterclass
Overview of Jay Conner’s 7-day private money challenge, a master class designed to help real estate investors realistically raise $500,000 in private money for their deals. Jay discusses the interactive, consumable nature of the training sessions.
Fun facts that were revealed in the episode:
- Jay Conner has never asked anyone for money:
Since starting his journey with private money in 2009, he has always had lenders chase him rather than him seeking them out.
- Jay Conner’s Queue System:
Jay operates a queue system for his 47 private lenders, ensuring that new lenders get their money deployed first to build trust and prove performance.
- Flexible Fund Usage:
Jay sometimes uses new private lender funds to pay off existing lenders, demonstrating the quick deployment of capital and securing the confidence of new investors.
Timestamps:
00:01 Private lenders build strong, high-integrity relationships.
06:25 Using private money to secure real estate.
08:33 Distinguishing private and hard money lenders, benefits.
13:58 Money access and differences impact property purchases.
15:22 Borrow based on repaired value for profit.
18:39 Securing the promissory note is essential.
23:03 Teaching exercise to calculate financial freedom goals.
25:04 Questioning advice to secure funding for deals.
27:56 Model involves land flipping with quick turnarounds.
33:49 Require $50,000 profit, project, plan accordingly.
34:53 Calculate private money needed for anticipated deals.
39:53 Private money discovery through personal connections and sharing.
42:26 Real estate deals may surprise some investors.
47:59 Teaching real estate investors to raise capital.
49:32 Successful investment: finding non-sophisticated wealthy investors.
53:17 Exercise caution in sharing financial information online.
Connect With Jay Conner:
Private Money Academy Conference:
Free Report:
https://www.jayconner.com/MoneyReport
Join the Private Money Academy:
https://www.JayConner.com/trial/
Have you read Jay’s new book: Where to Get The Money Now?
It is available FREE (all you pay is the shipping and handling) at https://www.JayConner.com/Book
What is Private Money? Real Estate Investing with Jay Conner
http://www.JayConner.com/MoneyPodcast
Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal.
#RealEstate #RealEstateInvesting #RealEstateInvestingForBeginners #Foreclosures #FlippingHouses #PrivateMoney #RaisingPrivateMoney #JayConner
YouTube Channel
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Maximizing Profitability: Private Lenders vs. Hard Money in Real Estate Financing With Jay Conner
Narrator [00:00:02]:
If you’re a real estate investor and are wondering how to raise and leverage private money to make more profit on every deal, then you’re in the right place. On raising private money, we’ll speak with new and seasoned investors to dissect their deals and extract the best tips and strategies to help you get the money because the money comes first. Now here’s your host, Jay Conner.
Jay Conner [00:00:28]:
Here’s the specific story, a specific actionable item to get money chasing you. By the way, in this world of private money, we don’t chase, we don’t beg, we don’t sell, we don’t persuade. I’ve never even asked anybody for money. They’re they’re chasing me. They’re gonna chase you.
Dan Haberkost [00:00:50]:
Welcome, guys. Today, we have a great guest, and we’re talking all about raising private money. But before we get into that, how’s it going, Mason?
Mason McDonald [00:01:00]:
It’s going well. Today’s show was a ton of fun and, I think, extraordinarily relevant to everything that we’ve been doing in our businesses as well as with ground-up funds, which just launched this month in June of 2024.
Dan Haberkost [00:01:14]:
Yeah. No. It’s exciting. We’ve been talking about this and working on it for really over a year now, and, so this was very appropriate timing-wise. So today, we had Jay Conner on the show, and Mason and I know him because we have both been on his podcast, Raising Private Money. And I like talking to Jay because he’s been doing this since 2009. So he’s I think I was in 7th grade in 2009. So he’s been around, and he has done over 475 house flips, which is just crazy to think about.
Dan Haberkost [00:01:49]:
And so he has a 7 figure business that’s very effectively automated flipping homes, and he’s financing everything via private money. So he lost all of his lines of credit at the bank in 2009. It’s just about everyone did, and that’s when he realized he had to go figure out how to raise money on his own. So that’s his expertise. Serious house flipper and razor of private money. And so we’re gonna bring him in and talk some actionable steps to how you can go and do the same.
Dan Haberkost [00:02:20]:
Mister Jay Conner, how are you doing today?
Jay Conner [00:02:23]:
Oh, my lands, Mason. How am I doing today? I’m, like, so excited to be on here with y’all’s show, you and Dan, to talk about my favorite subject, that being private money. Because private money had more of an impact on my and Carol Joy’s Real Estate Investing Business than any other strategy that we have employed. I’ve never missed out on a deal since 2009 because I got the private money, and I’m excited to share with the world what it is and how it works.
Dan Haberkost [00:02:54]:
Heck, yeah. I mean, that’s a perfect intro to it. It’s a perfect segue to our first question, which is, you know, Dan and I, think it’s important to not put the cart before the horse. And have you ever run into the issue of having more capital available than deals to deploy them into?
Jay Conner [00:03:13]:
All the time. Isn’t that a good problem? So it’s like, you know, I’ve got 47 private lenders. I guess first of all, it would be a good idea to define what we mean by private lenders. The Absolutely. Laws in recent times, hard money lenders, and the hard money space, which by the way, no disrespect to hard money lenders. Some of my best friends on the planet are hard money lenders. High integrity I could name quite a few of them. And I say, have as many relationships with people as you can.
Jay Conner [00:03:47]:
Right? Have as many relationships as you can. However, at the same time, when I’m there there’s a trend. Okay? There’s a trend in the hard money lending space that is trying to replace the word or phrase, hard money lender, with private money lender. And they are not the same thing. A private money lender, by its simple foundational definition, is an individual. It’s a human being, like you and me, that loans money from their investment capital and or their retirement funds to the real estate investor. There’s no middle person loan to be paid on the origination fee. So, when we say private money, we’re talking about doing business with another individual that’s gonna loan us the real estate investor, the, you know, either from their investment capital or retirement funds.
Jay Conner [00:04:51]:
But now since I defined what a private money lender really is, I forgot your first question, which was? It was just about having more or more money than deals to actually deploy. Yeah. So, Carol Joy, my wife, and I have 47 private lenders, which tallies up to about $8 half $1,000,000 in private money that these 47 private lenders have. They have from $50,000 each to over $1,000,000 each. And you know, everything in between. And so, yes. Ever since I mean, it’s a good problem. But quite frankly, it is a juggling act on being able to deploy and be called here’s what’s gonna happen.
Jay Conner [00:05:39]:
If you’re listening to this show and you haven’t raised any private money yet, you’re and you do it my way, you’re gonna have a good problem. And that is you’ll have more money than you can put to use. That’s why when I have a new private lender come into our world, I use their money first. Because I mean, next. I use their money on the next deal because I want to prove to them that I can perform and, you know, that I’m doing deals. One of the first questions a new private lender is going to ask you is how soon can you put my money to work. Because you’re not gonna borrow the money until you got a deal. Right? Do not borrow the money unless you have a deal to secure it. The SEC frowns on that greatly.
Jay Conner [00:06:25]:
Right? So we wanna secure that note. And so you need to be prepared to answer that question. So what I do is I use a pry In fact, sometimes in the past when I have a new private lender come on board, if I don’t have a deal coming right around the corner, I will sometimes use that new private money to pay off a current private lender and refinance that property so I can prove right away that I can, I can put that money to work? So when I pay off a private lender and we cash out, as we call it, on a deal, then that available private money now goes into what I call the queue. The queue. Well, what in the world is the queue? Well, it’s not any kind of fancy software, It’s an Excel spreadsheet, is all it is. And so we put that private lender back in the queue and we paid off, say for example, a $200,000 private lender note, that $200,000 and the name of that private lender goes to the bottom of the list and now they just work their way up until we have another deal. Now let’s say that we’ve got a deal coming along and ahead of that $200,000 that that came available that we just paid off on a real estate deal. Well, let’s say the only private lenders above them have smaller amounts of money, only 50,000 or 100,000 I use smaller amounts of money for rehabbing projects.
Jay Conner [00:07:50]:
You know, you can have more than 1 private lender, secured by the same deal as long as the total loan-to-value does not exceed 75% of the after repaired value. So if I pay off $200,000 on a deal and now that private lender goes in the queue with 200,000, well, let’s say the only private lenders that are above them are, you know, less than 200,000. Well, I use larger amounts of money for purchasing properties. So that $200,000 lender is going to jump above to the next deal, for those that only have, like, 50,000 available, or say, 75,000 available. But, does that make sense?
Dan Haberkost [00:08:33]:
It does. And, Jay, a good amount to unpack and a ton of follow-up questions for that. But backing up just one second, I think it was important to make that definition different, distinguish between the private lender and the hard money lender where a hard money lender, has private lenders that they go raise money from, and then they deploy that capital, and they take the spread in between. It’s just debt arbitrage, which is a fantastic model. It’s what banks do. It’s what hard money lenders do. It’s what, tons and tons and tons of people do out there. But that being said, being able to have access to those private lenders, ends up saving you a good amount of money because depending on who you are and how the deal is structured, those origination points or what that interest amount can be can kill the deal whenever it would pro form an out just on a cash basis.
Dan Haberkost [00:09:27]:
But, Jay, how can
Jay Conner [00:09:29]:
I was gonna say I was just gonna say real quick, Mason? Let’s give, if it’s okay, let me share some specifics as to what you just said about, you know, you’re gonna pay the hard money lender a whole lot more money than you are the private lender. So let me give you the specifics. So I pay my private lenders 8%. 8%. That’s why I’ve been paying them 8% since 2009 and it hasn’t changed.
Dan Haberkost [00:09:54]:
I get to Go ahead. And, Jay, on that 8% is that 8% annualized, or is it 8% cash on cash return or how is that structured with your lenders?
Jay Conner [00:10:05]:
Yeah. That’s an annual percentage rate, APR. So if I borrow for easy figuring $100,000 and I’m paying 8%, If I use that $100,000 for an entire year, then I’m paying $8,000 in interest. Not compounded interest, simple interest. Perfect. Now, let’s say I use $100,000 for only 6 months. Then 8% annualized means if I’m using $100,000 for 6 months, they’re gonna get paid $4,000. Right? In interest.
Jay Conner [00:10:40]:
So, it’s for the amount of time that I use the money. So, back to the contrast between hard money, the real cost of hard money, and a private lender. Well, with a private lender, there’s no origination fees, there’s no extension fees, there’s no junk fees, there’s no appraisal cost, etcetera, etcetera. I mean, the only money you’re gonna be paying your private lender is the interest rate. Right? In my case, 8%. Now, contrast that to hard money. You know, this side of COVID, shoot, when COVID came along, hard money lenders shut down. As recently as last year, I’ve got a friend who works for a hard money lender.
Jay Conner [00:11:27]:
And, as recently as last year, unless you had a 720 credit score, they wouldn’t even talk to you. In this world of private money, your credit score has nothing to do with how much private money you can get. I’ve never had a private money lender even ask what my credit score is or wanna see a copy of my credit report, etcetera. So your credit has nothing to do with it. But as far as what we’re you know, hard money lenders. I know hard money lenders right now that are getting paid 11.99%. You might as well call it 12%. I know others that are at 14%.
Jay Conner [00:12:05]:
I don’t know any that are less than 10 right now. Maybe there’s some out there. Don’t know. But, so let’s say let’s say the average is right now 12%. Let’s just say 12%. If you’re brand new, it’s gonna be more than that. Mhmm. But if it’s 12%, you’re gonna pay 12%.
Jay Conner [00:12:23]:
The, for hard money. The origination fee is going to be somewhere between 2 and 4% when you add it all up. But, let’s just say it’s 2%. Well, now you’re at 14%. And then you’ve got, you know, close you’ve got, you know, other types of fees. So it might be 15%. And then, here’s another one, if you don’t cash out within the 6 months or 9 months, most hard money lenders are gonna be either 6 months or 9 months on the length of the note, then they will probably extend your note. But, of course, what do they want? More money.
Jay Conner [00:13:06]:
That’s called an extension fee. Say what, Dan?
Dan Haberkost [00:13:09]:
Oh, big big extension fees. I’ve seen this happen. Extension fees. Yeah. Yeah.
Jay Conner [00:13:13]:
Yeah. So I’ve got a friend who’s a hard money lender. I got some hard money. I mean, private money for their hard money fund. Right? Which is I mean, it’s all the same money. Are you gonna use it for your real estate deals? Or are you gonna use it to loan money out to other real estate investors and have a fund? But I’ve got a good friend who’s a hard money lender that if you haven’t cashed out or paid off that note, within the term, limit of that note, they will extend your note, but they charge 3% for 90 more days. 3%. So if you borrow $100,000 another 3,000, again, I’m not knocking hard money lenders at all.
Jay Conner [00:13:58]:
I’m just pointing out the differences and the contrast. And quite frankly, at the end of the day, access to the money is more important than exactly what you’re gonna be paying, unless you’re gonna be holding that thing for 6 months or 9 months because I tell you what, that money can add up fast. So in contrast between the 2, another big difference is how much are you gonna be advanced at the purchase price. That’s a huge difference. You know, if you’re borrowing hard money, they’re gonna loan you either 65% to 80% typically of the purchase price. Well, you gotta come up with the rest of that money. Right? When you when you purchase the property. In this world of private money, you’re gonna get 100% of your purchase price if there’s a rehab involved.
Jay Conner [00:14:47]:
You’re gonna get 100% of the rehab money upfront, and you’ll, and here’s a good double check. So here’s a rider downer. This is worth writing down unless you’re driving. If you’re driving, don’t write it down. Come back and listen again. But, here’s a writer downer and this is a good double check. If you can’t, if you’re doing private money, borrowing private money the way I do, if you can’t bring home a check at purchase when you close, and not take any of your own money to the closing table, you should not do the deal. You should not do the deal.
Jay Conner [00:15:22]:
Because that means, by the way, we’re borrowing a maximum of 75% of the after-repaired value. I didn’t say 75% of the purchase price. If you do that, you gotta bring 25% of the purchase price to the closing table when you buy. But 75 of actual repaired value, well, the way you’re gonna bring home a big check when you purchase is if you’re buying at a substantial discount on the property and if you are borrowing on loan to value based on after-repaired value and not on purchase. We see all 47 of my private lenders advance to me 100% of a purchase, 100% of the rehab money, and even some additional equity based on the after-repaired value. So I always bring home a big check. I mean, here’s the question, who wants to get paid to buy properties? Who wants to bring home a big check? My real estate attorney, Julie Whitaker, whose office is right next door, by the way, that’s convenient. The phrase on her check that I love, is that I when I pick up a check when I buy, is excess cash to close.
Jay Conner [00:16:29]:
And I love me some excess cash.
Dan Haberkost [00:16:31]:
There we go. I love it. I love it. And, Jay, you’re providing a master class on the difference between hard and private money, and I think diving even deeper into private money before I pass it off to Dan, to ask some follow-up questions that he has, Vernon, is whenever you’re raising this private money, it seems like for the most part, it’s a deal by deal basis of you matching an individual investor up with a deal. Sometimes you may have them provide the capital to purchase the the house or the asset and another one to finance the rehab of it. Are you doing this as secured or unsecured promissory notes?
Jay Conner [00:17:09]:
That’s a great question and I’m glad you brought it up. This is so important. I always borrow, and I encourage you to listen to this show, and always secure that money. Do not borrow unsecured money for goodness’ sake. First of all, there’s a good chance you just might get a knock on your door from the SEC when you borrow unsecured funds. They don’t like that very much. Right? But when you are borrowing, funds, either investment capital or retirement funds, and they’ve moved it over to a self-directed IRA to loan it out to you. By the way, that was a big, mic drop, I just said right there.
Jay Conner [00:17:56]:
You need to have a relationship with a self-directed IRA company that you can refer your new potential private lenders that you have put on your teacher hat and told them about what private money is. So you can introduce them to your rep at the self-directed IRA company, and they move their retirement funds over. But back to securing funds. Everything we do now, my world is primarily single-family homes. That’s my world. Single-family homes. But if you’re in the multifamily and small apartments or duplexes, triplexes, or big apartments, it’s all the same money. It’s all the same money.
Jay Conner [00:18:39]:
It’s just how you structure it. So, in this world of single-family homes, we always secure the promissory note with, in North Carolina, it’s called a deed of trust. In most states, it’s called a mortgage and most people even in North Carolina call it a mortgage. It’s a deed of trust. It accomplishes the same thing. It collateralizes the note, which means, if you don’t pay the lender, your private lender, then they have the legal right to foreclose on that property. Sometimes I’ll have new real estate investors say to me, Mason and Dan, new real estate investors will say, who in the world is gonna loan me money and I’ve never done a deal? Who’s gonna loan me money? I’ve never done a deal. Here’s the answer.
Jay Conner [00:19:29]:
And this would be the new real estate investor talking to the private lender. And here is exactly what you would say. It’s really simple, if I don’t pay you the property does. If I don’t pay you the property does. This means if you don’t pay the private lender that loans you the money, they get the property. And based on our criteria as to how the maximum loan amount that we borrow, they’ll make more money than with the property, than the interest you would have paid them. But they don’t wanna mess with the property, for goodness sakes. They just want you to pay them their interest.
Jay Conner [00:20:04]:
Back to your question, Mason. So you want to secure the note with a deed of trust or mortgage. And of course, your real estate attorney is gonna draw up the documents for you to do this. And, so here’s another rider downer, In this world of single-family homes and private money, all the deals we do are called one-offs. One-offs. And, with them being one-offs, I’m going to explain what that means. A one-off means you’re not regulated by the SEC, or the Security Exchange Commission. You’re not raising money for a fund, Like if you’re gonna be doing an apartment deal or, you know, a much larger deal, then you would establish a private placement.
Jay Conner [00:20:49]:
Right? And you’d have a fund established and a SEC attorney would draw up all that. Well, that’s not this world of single-family houses. When I say one-offs, here’s what I mean. A one-off means you’ve got a property. A single-family property. Now, it could be a duplex, triplex, or quadplex. You’ve got a property. Right? With a physical address.
Jay Conner [00:21:12]:
And, now you’re gonna have a private lender or maybe 2 or 3 private lenders. You can have more than 1 private lender secured by the same property, but they have their promissory note and their mortgage or deed of trust. And so, one-offs. A private lender or a few private lenders that are being
Dan Haberkost [00:21:31]:
secured by that property. It’s a one-off and guess what? You’re not limited to borrowing from accredited investors, You can borrow from anybody. They don’t have to be accredited when you’re doing these one-offs. Gotcha. No. That’s helpful, Jay. Thanks for going into detail there. And Mason and I can certainly speak to, going through that process with an SEC attorney as we just finished that for our fund, for what we’re doing, providing capital for land investors who need their land deals.
Dan Haberkost [00:22:04]:
So to that end, something I wanna drill down on here. So you have almost 4 dozen investors you mentioned. And kind of Mason’s first question about how you balance enough deals for the amount of capital you have. And if a couple of those investors or 10 of those investors have been waiting a year and you haven’t brought them anything, they’re probably gonna go find somewhere else to put their money. And so, of course, with your model, you’re not paying them interest as they’re waiting. So how do you balance that where you keep all your 4 almost 4 dozen investors happy, but then you’re not overleveraging or taking on deals just because you have money to deploy? Do you speak a little more about that?
Jay Conner [00:22:45]:
Well, yes. I can. Yes. I can. And here’s the answer. Don’t raise too much private money. Sure. So, which So, I have an exercise in my brand new 7-day private money challenge.
Jay Conner [00:23:03]:
Brand new exercise that I have the members that enrolled in the 7-day private money challenge. And I teach them in that in that in one of the days of the challenge. I teach them how to figure, out what I call their freedom number. Well, one of them was a freedom number. A freedom number is how much money you need to be making every month to cover your existing expenses. In addition to that, how much money do you need to be bringing in per month to live the lifestyle you want? Right? And so we go through this exercise of, first of all, you gotta figure out, well, what lifestyle do you want? Right? And then we figure out how much money you need to accomplish that. Then we figure out, okay, well, now how many deals per year at whatever average profit you need to do to make that money. And then once you know how many deals at the average profit per deal, that’s going to tell you how much private money you need to raise within the next 12 months to accomplish and live the way you want to live. So first, you know, I can teach people all day long how to go how to raise a lot of private money, but the question is, how much private money do you need to accomplish and do the number of deals that you want? So, which reminds me, and Mason and Dan, I think we talked about this when I had you all on my podcast.
Jay Conner [00:24:31]:
But for the sake of the listeners on this show, I’m gonna ask you all a question. Have you ever heard an educator, a mentor, a coach say the following or give the following advice? Because it drives me nuts. I just wanna go run face-first in a brick wall every time I hear this. And have you ever heard somebody give the advice, oh, just go get the deal under contract? The money will show up.
Dan Haberkost [00:25:01]:
Yeah. I heard that. Many times.
Jay Conner [00:25:04]:
Why do they say that? I mean, it’s like, is get the deal under contract. Is it the money just gonna, like, rain out of clouds? Is the is the money just gonna show up and just sort of like, and here’s another thing they’ll say. They’ll say, if the deal is good enough, the money will follow the deal. Have you ever heard that? Yes. The deal is good enough to make that the most stupid thing I ever heard in my life. I mean, it just makes a lot more sense to me before I put a deal under contract to know how I’m gonna fund the deal. I was a guest on a podcast not too long ago. We were having this conversation and the host of the podcast said, I mean, I said I asked the post the host, I said, why do they say that and give that kind of advice? And, the host says, well, Jay, it’s real simple.
Jay Conner [00:25:54]:
The advice educators who give that advice, they’re selling a course on how to find deals and how to get deals under contract, and they ain’t gonna teach you nothing about how to get it funded. But I think Do you agree with my philosophy? You should have the money lined up first.
Dan Haberkost [00:26:10]:
Oh, absolutely. And I think it goes back to one comment you made of the value of being able to connect the capital, and that’s where and why hard money lenders are deserved they they deserve to make the money on top of it.
Jay Conner [00:26:25]:
Absolutely. Because they’ve gone out and raised it. They deserve to make their money.
Dan Haberkost [00:26:29]:
Exactly, exactly. And so there’s a ton of value in being able to connect capital to deals and take a spread.
Jay Conner [00:26:36]:
Absolutely. Absolutely. So, Dan, I’m not sure I answered your question.
Dan Haberkost [00:26:41]:
Well, I mean, you gave a good idea, but I guess just you know, how balancing that planning, you know, we talked about in the intro before you got on, but you’ve rehabbed and flipped a ton of houses. And so is it just a matter of really accurate forecasting of your pipeline of deals coming up and then just meshing that with your investors? But, you know, with Mason and I starting this fund, we have a lot of deals coming in. But, you know, we’ve had the conversation. We wanna be cautious. We don’t wanna ray overraise and then make poor decisions as far as deploying just because we have to deploy. Right? And so that’s why that topic is on our minds. I wanna bring that up to you.
Dan Haberkost [00:27:23]:
You’ve been doing Well, why don’t I walk, you, Dan, and Mason, through a
Jay Conner [00:27:28]:
little short exercise, exercise, and I’ll help you figure out how much private money you need. How about that? Sure. Alright. So let’s go through it. So first of all, how many deals do you want to be able to fund? Do you know that? Several 100 a year. So several 100 a year. So you are you gonna stay in several 100 deals a year?
Dan Haberkost [00:27:56]:
Well, I think it’d be helpful to explain our model, first of what we’re doing, where, Dan and I are both in the land flipping space, land acquisition, sales, and development. And so some of our deals, turn around in 7 days. We had that this week of it was what? Buy for 1 11, sell for 157 and 7 days. We paid off our investor. They made 4% on that. We made $17. Our deal finder made $10 or something like that. So there’s a lot of deals with a decent amount of complexity that we’re managing that it could be anywhere from 7 days to, you know, 400 days depending on the individual deal Right?
Dan Haberkost [00:28:41]:
I suppose.
Jay Conner [00:28:42]:
So, yeah. You all have a very, very different model. So let me just give some advice on how to think about that. The first thing you want to figure out is, and this applies to whether somebody is staying in a deal and flipping a single-family house, or in your case, you know, land flipping. What is the average amount of money? Here’s where you wanna start. Mhmm. What’s the
Dan Haberkost [00:29:04]:
average amount of money you’re gonna need per deal? See, this is evolving. Yeah. We need to narrow that down. So we’ve got some killer deals submitted with much bigger price tags recently. Along with the, you know, buy for 40, sell for 80, I mean, shoot. We got one last month or early this month. It’s at 10,000,000 and is appraised at 13.7. Of course, we haven’t done anything that big yet, but that’s part of the challenge is how quickly we wanna scale into these larger deals.
Dan Haberkost [00:29:37]:
Sure. But to give some data to it Dan and I have been working on compiling recent deals. And in 58 recent deals, the median acquisition price was 20,264, and the median sale price was 33,750.
Jay Conner [00:29:52]:
Okay. Well, let’s play with those numbers. So your average purchase and that’s and that’s some great data. By the way, I love data over drama. No drama give me the data. Right? Mhmm. So, your average purpose purchase over the last 58 deals, you purchased that for $20,000 and you sold it for how much?
Dan Haberkost [00:30:10]:
34 k and 34 k. 34 k. Those Yeah. Those are median 5. Median numbers rather than average.
Jay Conner [00:30:16]:
Alright. And, in what period so your average purchase 20,000? Right? Now, do you want to pull any equity out of these deals or do you just wanna you wanna just cover the purchase and you’re good? Just cover the purchase. Yeah. Cover the purchase. And, in what period did you do those 58 deals? How over what period?
Dan Haberkost [00:30:41]:
That’s been, the last year or so. Okay. The last couple of
Jay Conner [00:30:44]:
What the Let’s let’s run it. Let’s run it. Let’s say your model didn’t change. Let’s say you weren’t doing a $10,000,000 deal because that’s, you know, let’s that’s another conversation. That’s another conversation. Alright. Sure. So you so, 58 deals in the past year.
Jay Conner [00:31:02]:
So, 58 deals times 20,000 purchase price. That’s a 1,160,000. And, so I wanna know here’s one of my criteria. I want enough private money to cover all the deals I’m doing for 12 months. Right? I wanna cover. I wanna have enough money for 12 months because I may be sitting on a deal for 12 months. Right? Before I actually an in and in and out. That’s a 1,160.
Jay Conner [00:31:29]:
You always hear another rider downer. You always wanna borrow more than you think you need. Right? Not borrow. Excuse me. Not borrow. But, yes. On my deals, I do borrow more than I think I’m gonna need because I always need more than I think I’m gonna need. Right? On every deal.
Dan Haberkost [00:31:44]:
So And and Jay, that Uh-huh. That total number is 1.5248. So 1,524,800 is the actual total number.
Jay Conner [00:31:55]:
Okay. Cool. So a1000000 and a half. Right? So I’d say since you get better since everybody typically gets better at what they do, let’s say you need, not that I would recommend, let’s get 2,000,000 raised. Let’s get 2,000,000 in the hopper. That’s more that and that’s given that your business doesn’t grow any. Right? So to get 2,000,000 raised, do it my way, you should be able to easily raise a couple of $1,000,000 just through networking and not and not getting any money pledged from existing private lenders. That should be an easy raise within 6 months to 12 months to get that amount of money pledged.
Jay Conner [00:32:43]:
Not borrowed, but pledged. But, you know, don’t go for the 2,000,000 first. 1st, let’s just go for the 500,000, and then let’s go for the next 500,000 because it’s much easier when you’re starting, and I’m not saying you guys, I’m just saying anybody. When you’re starting and you never raised private money, it’s a lot easier to get $500 wrapped around your head than, you know, $2,000,000 But now, let’s apply this little exercise. And again, I go into every detail in my brand new 7-day private money challenge on how to do this. But in the world of single-family houses, the way it works is first, you’re looking at, the way it works is, first, you’re looking at the amount of money you want to make, then you need to know, okay, on average, what’s my, what’s my average profit per deal gonna be? Right? What’s my average profit gonna be? My average profit is $82,000 per single-family house, is my average. But let’s say someone’s listening to this show. Let’s say your average is gonna be anticipating, only $50,000.
Jay Conner [00:33:49]:
And by the way, I don’t wanna do a deal unless I’m projecting $50,000 profit because you guys know and I know if you project you’re gonna be doing a deal and you’re gonna be making $50,000 you know and I know you ain’t gonna make $50,000. Right? Because there’s gonna be other stuff that comes along. So let’s say your average power is $50,000. Well, then you look at that, you’ve already looked at how much money that you’re, that you’re, that you’re desiring to make. So now you run out, well, how many deals do I need to do a year at $50,000 profit to get that annual income figure? Whatever that comes up to, multiply that times, or divide that rather, by the number of deals that you need to do at $50,000 to make that amount of money. Once you see that, okay, well, here’s the number of deals I need to do. Now, here is my average after-repair value. Now, for those of you who are listening to this show, if you’re getting lost in what I’m saying, don’t worry.
Jay Conner [00:34:53]:
I go over it a lot quicker in the 7-day private money challenge. But once you see what that number is, now you’re gonna take those number of deals that you need to do over the next year. And, now you need to know what is your average after-repaired value on houses, on single-family houses. So here’s the average. What’s the median price? Just stay with first-time home buyer prices. So here’s the average after-repaired value, multiply times the average after-repaired value, and multiply that times 75% because that’s how much we borrow per deal of after-repaired value. So, there’s the average amount of private money you need per deal. Multiply that times the number of deals you anticipate doing over the next 12 months.
Jay Conner [00:35:42]:
There’s the amount of private money you need over the next 12 months in the single-family house space. Again, if you get lost, don’t worry about it. I slow it down. It’s a 20-minute session and a 25-minute session on one of the days of the 7-day private mini-challenge. But, did you get a nugget out of that, Mason or Diane, as far as how you look ahead and back into it? Yeah.
Dan Haberkost [00:36:05]:
Yeah. I like that. You know, realistically, we just in our businesses, we have several $1,000,000 deployed, and it’s just a matter of moving that into the fund here and slowly and steadily growing with the capital partner business. We’re closing other people’s land deals with the cash we raise. We’ve just started very slow and steady. I think we’ll just we’ll keep on that route. But, anyways, no. That was really insightful, and I think that’s about the best way you can do it.
Dan Haberkost [00:36:34]:
It’s just working backward off what you’re trying to accomplish. So thanks for that, Jay. Absolutely. I call back into it. You gotta back into it. Sure.
Dan Haberkost [00:36:42]:
And, Jay, you’ve brought it up a couple of times, but what’s the elevator pitch on this 7-day private money challenge?
Jay Conner [00:36:49]:
Oh, in other words, what’s the 7-day private money challenge about?
Dan Haberkost [00:36:53]:
What is it? Yeah.
Jay Conner [00:36:53]:
Tell me. Oh, my man. So I’m so excited about this and thank you for asking. So, so I’ve got a book, Where to Get the Money Now, and I gave that away for some time, you know when I’d come on a show. But, I wanted to make I wanted to make the training so much more interactive. Right? And consumable. So this is hot off the press. So I just finished recording, I went to my attorneys, went to my attorney’s law office.
Jay Conner [00:37:25]:
But anyway, I just finished recording 7 days of training. Now you talk about a master class. I mean, this is 7 days of master class, but each video training is only 15 to 20 minutes long. So in those 7 days, I’m gonna be sharing how to realistically raise $500,000 in private money for real estate deals over just a 7-day training period. Very consumable, very easy, you know, to understand it and digest. So I would love to offer that to your audience. You simply go to www.raise private excuse me. That’s the wrong, URL.
Jay Conner [00:38:10]:
Private Money Challenge for goodness’ sake. So it’s www.privatemoneychallenge.com. www.Privatemoneychallenge.com and come join me. I promise you one thing, you’re going to learn how to raise private money, but we’re going to have a lot of fun learning how to raise private money. So, as soon as you enroll at www.Privatemoneychallenge.com, you will immediately receive the very first, 15, 20 minute training. And then the next 6 days at 10 AM Eastern Time, it’ll come in your email box and you’ll get each training. It’ll put you on the fast track to raising private money for your real estate deals.
Jay Conner [00:38:55]:
And, I’d love to have you come join me, anybody that’s listening here to this show.
Dan Haberkost [00:39:00]:
Fantastic, Jay. Thank you. Thank you for sharing that, and we’ll make sure to have www.privatemoneychallenge.com linked in the show notes of this episode. But getting into, the point you brought up, I reiterated it once. It’s the value of being a capital connector, being that person who’s able to go raise money. And I think what you teach a lot of people is, hey, you can be that person that goes and raises money. Do you feel like your private lenders, most of them are just individuals that have a decent amount of money? Or do you feel like there are a lot of people that are in the private equity space or ultra-high net worth individuals, which I think means over $30,000,000 net worth? Do you target those people? Are you looking more for the doctors, attorneys, and whomever you are targeting? Why? So,
Jay Conner [00:39:53]:
that’s a great question and here’s why. Of the 47 private lenders that we have, did you know that not one of them had ever heard of private money? Before, I put on my teacher hat and my private money teacher hat, and I started sharing with these people in my connections. People I go to church with, people in the Rotary Club, people at Business Networking International, and people on my cell phone. I just started sharing with people, all the way back in 2009 what private money is, how they can earn high rates of returns safely and securely, how they can use retirement funds, and earn unlimited money per year, either tax-deferred or tax-free. None of these 47 private lenders in my world had ever heard of private money or self-directed IRAs. I simply started sharing. So the question is, who do you see regularly every week? Who do you see every week regularly? You know, it’s pretty funny. Private money is right under your nose.
Jay Conner [00:41:05]:
It is right under your nose. I started raising private money back in, February of 2009, and it just never occurred to me that one of my assistants who works here in the office had a relative who didn’t know what to do with their money. I hadn’t even told one of my assistants that I see every day about my private money program, and how I teach people how they can earn high rates of return safely and securely. So I have raised all of my private money, which is $8 a half $1,000,000. So, you know, I’m not raising money for, you know, I’m not raising money for huge projects. It’s all single-family in my case. So I have $8 a half $1,000,000 from these 47 private lenders that we just, you know, move from project to pro and use on different projects. So for Mike, that’s a good so what that triggers is a good question.
Jay Conner [00:42:05]:
If you’re listening to this show, you need to get in the 7-day private money challenge first to figure out how much private money you need, right, for your business. And then I’ll walk you through step by step. Okay. Now, how do I get to accomplishing, you know, that? Did that answer the question?
Dan Haberkost [00:42:26]:
Yeah. No. It did. And I think that it’s surprising to a lot of people in this space that it depends on who you’re raising money from. I think at the beginning for myself and for Dan, there’s plenty of deals where we’ve given up a majority of the meat on the bones to the people that came in and provided the capital. And that is what a lot of real estate investors expect. Of their, they won’t do a deal unless they’re doubling their money. And you forget how many people make 6, 7 figures per year, that a majority of their money is in a high-yield savings account or invested in index funds or bonds or, whatever it might be, and receiving an 8% annualized return is a fantastic portfolio performance, not just to the individual investor, but to the multibillion-dollar industry that’s, you know, within private private equity, hedge funds, venture capital, that sort of thing.
Dan Haberkost [00:43:21]:
So I think it’s just a good reminder to look into your network because Dan and I together, I think we added it up recently, have raised a little over 4,000,000 between both of us and our businesses. And it mostly comes from friends, family, and fools who, believe in us, heard us on a podcast, or, that we’ve connected to or networked in any capacity.
Jay Conner [00:43:43]:
But Sure. Well, let me answer this question, Mason and Dan. Of your connections with that you raised $4,000,000, did any of them ever hear of private money, private lending, or self-directed IRAs until you shared it with them? Yeah.
Dan Haberkost [00:44:00]:
So so Yeah.
Jay Conner [00:44:02]:
Some I think that self-directed You guys have a more sophisticated list of connections than I do.
Dan Haberkost [00:44:07]:
Well, I think the self-directed IRA thing is definitely, a huge opportunity that many people don’t think about. And having taken money from other people’s self-directed IRAs into deals, it’s it’s more complex than, some people realize. If you don’t have that connection of, you know, an appropriate custodian company type thing that you mentioned kind of towards the beginning. But one one quick, I guess, bragging question for you to answer, Jay, is, that you’ve taught a lot of people how to raise money. You’ve raised a lot of money yourself. What’s the largest individual capital contribution that either you or one of your students has received for either a deal or a fund or something like that?
Jay Conner [00:44:50]:
From what’s the largest contribution from 1 private lender?
Dan Haberkost [00:44:54]:
From 1 private lender.
Jay Conner [00:44:55]:
Yeah. From 1 private lender, 1,150,000.
Dan Haberkost [00:45:01]:
1,000,000. And tell us as much as you can about that private lender. What was their career? Was it just sitting in a bank account? How did that work?
Jay Conner [00:45:09]:
Yeah. You know, it’s funny, Mason and Dan. Some of the people that look like they’re loaded with money are broke. And some people that don’t look like they would have any money saved up will surprise you. So this private lender, actually it was it’s a husband and wife, husband and wife. They are both are you ready? They are both retired school teachers. Retired school teachers with over $1,000,000 in retirement funds. They both retired, after working 30 years in the public school system in one of the poorest states in the nation, namely Mississippi, and one of the lowest, and by the way, I got great friends in Mississippi, so nothing against Mississippi.
Jay Conner [00:46:11]:
One of my most successful real estate investors who have raised millions of private money since working with me, lives in Mississippi. Upperville, Mississippi to be exact.
Dan Haberkost [00:46:25]:
You’re gonna drive My wife’s from Mississippi, so, you know, shout out to Mississippi. I said my wife is from Mississippi.
Jay Conner [00:46:30]:
So I mean they live in Poplarville, Mississippi. They gotta drive 30 minutes to get eggs and milk and bread, from Poplarville, Mississippi. But here’s here’s the takeaway story. They taught school in Mississippi for 30 years. They’ve been had they’ve been they hadn’t touched their retirement money, either one of them, in 30 years. And now they’re retired, or now the or and then they were retired. I mean, they’ve been doing they’ve been funding my deals for years, and they didn’t know what to do with the money. So, they were visiting here in Moorhead City, North Carolina at church.
Jay Conner [00:47:10]:
So, they were visiting family. In fact, their son was my tile guy, Gordon. He was my tile guy, putting in tile. And so, they’re visiting at church and, so we go to lunch together, and so we’re eating fried chicken and barbecue at Smithfield’s Fried Chicken Barbecue Joint after Sunday, church. And we’re eating there together, and they were chatting along, and I looked at, the gentleman, and I said, let me ask you a question. Have you ever heard of self-directed IRAs? That’s the way I started the conversation not started the conversation, but started the conversation about private money. I said, have you ever heard of several guys? Because I knew they had just retired. I knew they had just retired.
Jay Conner [00:47:59]:
By the way, I teach new real estate I teach real estate investors how to raise capital for real estate deals. And the first step out of the 5 steps that I cover is the private money challenge. The first step in 5 steps is to make your list of potential private lenders that are on your cell phone. And I say the first people on your list should be retired people because there’s a good chance retired people have got retirement funds. And I promise you, if they have retirement funds, there’s a good chance they are not happy today regarding where they’ve got those funds. So I’m eating fried chicken and barbecue, and I said, have you ever heard of self-directed IRAs? I promise you, when you ask that question to the average person on the street, they have not heard of self-directed IRAs. And he said, no. And so I started a conversation about what self-directed IRAs are and how people can use their retirement funds, and get really, really insane high rates of return, either tax-deferred or tax-free.
Jay Conner [00:49:00]:
So that conversation led to them being a private lender that the relationship grew to $1,250,000 and it all started with meeting them at church. They were visiting, we went to lunch together and I asked a simple question. By the way, have you ever heard of self-directed IRAs?
Dan Haberkost [00:49:32]:
That’s a great question to ask anybody who’s retired. Yeah. That story really, answers an upcoming question I had and illustrates how he goes about this very well. One of the first people ever to invest with me was very similar. It was just someone I knew at the gym, and my brother went to the same gym and said, did you ask so and so if she wanted to invest? I know she’s got money sitting around and doesn’t know what to do with it. And so that’s that’s a very similar story. And to what you said earlier about, oh, it sounds like you guys have more sophisticated investors. Well, the problem with that is some people know the business better and often are looking for higher returns. And the best investors, from my experience, are the ones that have money but are not sophisticated in how to multiply the money. And so they’re perfectly happy with a high single-digit return if they don’t have to do anything.
Dan Haberkost [00:50:17]:
Whereas if you talk to Mason and me in 10, 20 years, somewhere older versions of ourselves, we know how to multiply money at a massive rate. So we’re not gonna lend anything unless it’s a huge return. So I think that’s an advantage, Jay. But you partially answered what I wanted to ask you here next, kinda as we move towards the end of the conversation here. You mentioned, as far as sourcing private investors, just people in your network that you talk to every day, retirees, busy doctors, accountants, and engineers. These are all good options, but you host a podcast. I know you do a lot. You’re very active on social media.
Dan Haberkost [00:50:57]:
What have you found to be the most, productive source of marketing that ultimately leads to to you finding more private lenders? A podcast, some of the book you wrote, something else you’re doing?
Jay Conner [00:51:11]:
So that’s a great question. Here’s the fastest way that I know to scale raising private money. Share your stories on social media and just share what are you doing in your business. Like in my business, they love looking at rehabs, they’re looking at they love looking at before, they look they love looking at afters. And here’s the story, here’s the specific story, a specific actionable item to get money chasing you. By the way, in this world of private money, we don’t chase, we don’t beg, we don’t sell, we don’t persuade. I’ve never even asked anybody for money. They’re they’re chasing me.
Jay Conner [00:51:54]:
They’re gonna chase you. So you do a deal. You do one of them land deals. You do one of them land deals. Right? Or you do a single-family house deal or what, you know, what, you know, self-storage, whatever whatever it is you’re into. You go on your you go on your social media, and post a picture of the property. Post a picture of the deal you did, and you just post in the copy and say, I’m so excited about this deal I just did, bought it for x. I mean, give them the dollars, give them the dollars.
Jay Conner [00:52:29]:
I bought it for x. I sold it for x and my private lender or my investor made x. Here’s the call to action, and the SEC doesn’t care. Here’s the call to action. Wanna talk money? DM me. That’s it. Wanna talk don’t tell me about some kind of percentage rate that you’re paying or anything other than that. You’re just giving the bottom-line facts.
Jay Conner [00:52:57]:
Hey, I’m so excited about this deal I just did. There’s a picture of it on your social media or Instagram or whatever it is. And say, I bought this for x, I sold it for x, and my investor made x! Hey, wanna talk money? Direct message me.
Dan Haberkost [00:53:17]:
Jay, that’s great right there. And I think, you did a great job, which doesn’t take legal advice from Jay, Dan, or myself. Contact your attorney. But, it’s, if you use the wrong language in that sentence, that’s not indicating if the SEC will get involved, it’s when they’re going to get involved with you because it sounds like you’re selling securities if you phrase it wrong. But what Jay is saying right there is all you’re doing is sharing your wins and offering people an opportunity to chat about money. There’s nothing wrong with that. And I think sharing your successes as well as sharing your failures, assuming you learn something, is very powerful on social media. And that’s part of the reason we’ve created this podcast and have platforms that we try to share what we’ve learned, on how to do deals versus not do deals.
Dan Haberkost [00:54:02]:
But, Jay, as we move towards the very end of this show at the top of the hour, is there anything you wish we had asked that we didn’t? And is there anything you wanna leave our audience with?
Jay Conner [00:54:13]:
Yes. I wish you had asked me about my podcast. And since you didn’t, I’ll tell them about it. So we did, we did talk about it at the beginning of the show because you guys were on my podcast. So, again, if you’re looking to raise private money, you can follow me and easily find me, on whatever podcast platform you watch or listen to rather. Whether it’s, you know, Itunes or it’s, Spotify. I’m I’m all over the place. So the name of my show on the podcast is, believe it or not, Raising Private Money.
Jay Conner [00:54:47]:
So if you just type in, and search for Raising Private Money, you’ll see it pop right up, Raising Private Money with Jay Conner. And I have amazing guests twice a week. We release it on early Monday mornings early Thursday, and Thursday mornings as well. And I have amazing guests such as Mason and Dan, who join me on the show. And I interview other people about how they go about raising private money. If you wanna learn how Mason and Dan raise private money, you can come listen to the episode, over at Raising Private Money with Jay Conner and I interviewed them about how they go about raising private money. So, yeah. That’s it.
Jay Conner [00:55:24]:
Mason and Dan, I don’t know about you guys, but this has been fun for me. Thank you so much for having me on. And one more time, you wanna raise private money? Come join me on the 7-day private money challenge at www.privatemoneychallenge.com .
Dan Haberkost [00:55:42]:
That was fantastic. And you can hear Jay’s sign-off podcast voice. Go check out his podcast, and I have both been interviewed on it. We’ll make sure to have all of the relevant links that we spoke about today in our show notes. But this is Mason McDonald with Dan Haberkost and the Big Picture Blueprint signing off.
Narrator [00:56:11]:
Are you feeling inspired by the knowledge you gained in this episode? Then head over to wwJayConner.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 www.JayConner.com/MoneyGuide to get your free guide. We’ll see you next time on raising private money with Jay Conner.