***Guest Appearance
Credits to:
https://www.youtube.com/@wealthjuiceofficial
“Jay Conner’s Blueprint for Making $78,000 Per Deal (Using None of His Own Money)”
https://www.youtube.com/watch?v=jBUNCddrdKY
In a recent episode of the Raising Private Money podcast, Jay Conner joins Cory Jacobson and Ryan Bevilacqua on The Wealth Juice Podcast, where Jay shares invaluable insights on private money lending and creative financing strategies that have propelled his successful career. This post delves deeper into Jay’s methodologies, illustrating how real estate investors can leverage private money and unique financing options to thrive even in challenging market conditions.
The Journey to Private Money
Real estate can be both lucrative and challenging, often requiring innovative approaches to financing. For Jay Conner, this realization came when traditional financing avenues were abruptly closed off. In 2009, his local bank cut off his line of credit with no warning, prompting him to find an alternative to keep his business afloat.
Discovering Private Money and Self-Directed IRAs
Fortunately, Jay’s friend Jeff introduced him to the concept of private money and the power of self-directed IRAs. These tools enable investors to source funds outside conventional banking channels, essentially democratizing access to capital. Inspired, Jay researched how individuals could use retirement funds to finance real estate investments and began formulating a strategy.
Establishing Trust Without Desperation
One of the key tenets of Jay’s approach is the emphasis on trust. He advises investors to avoid discussing specific deals in initial conversations with potential private lenders. Instead, he focuses on educating them about the private lending program. This approach centers on building trust and interest without appearing desperate for money.
Crafting an Attractive Lending Program
When explaining his lending program, Jay shares specifics like interest rates, note lengths, and emergency call options with potential lenders. Offering an 8% annual interest rate—a notable increase from the usual 3-5% local CD rates—Jay makes a compelling case for investors. The program’s clarity and attractive returns have successfully attracted 47 private lenders.
Leveraging Connections and Networking
Jay’s first significant success in raising private money involved an indirect approach. A trusted acquaintance, Wayne, helped him connect with investors interested in the higher returns offered by Jay’s program. By leveraging Wayne’s extensive local network, Jay was able to secure a $250,000 investment from a somewhat skeptical potential lender. This established a pattern for Jay, wherein he treated private lenders like a bank, setting clear, upfront terms for returns.
Real Estate Projects and Profit Strategy
Jay’s borrowing strategy also stands out as methodical and calculated. He typically borrows 75% of a property’s after-repaired value (ARV), ensuring investments are backed by solid real estate. For instance, on a property with an ARV of $200,000, Jay might borrow $150,000, ensuring a $50,000 check at purchase, less closing costs. This method ensures profits upfront and upon sale, without initial personal fund investment.
Combining “Subject To” and Private Money Lending
Jay has mastered the use of the “subject to” strategy, allowing him to take over existing mortgages without the original lender’s consent while managing monthly payments. When combined with private money, this strategy allows Jay to finance repairs or cover back payments without using personal funds. This hybrid approach provides flexibility and liquidity, ensuring quick closures and higher profitability.
Assisting Distressed Sellers and Building Resilience
Addressing market changes, Jay highlights resilience and adaptability as crucial traits for success. He often helps distressed sellers avoid foreclosure by providing immediate cash relief, making the transaction beneficial for both parties. This practice not only aids sellers in financial distress but also strengthens Jay’s portfolio. On average, Jay nets $78,000 per deal, underscoring the efficacy of his strategies.
Educational Resources and Further Learning
For those eager to delve deeper into private money lending, Jay offers multiple resources. His book, “Where to Get the Money Now,” provides a step-by-step guide on securing private funding, available for only the cost of shipping and handling. Additionally, Jay’s Private Money Academy Conference offers immersive learning, usually priced at $3,000 but available to podcast listeners for only $97 via his website, www.JaysLiveEvent.com.
Conclusion
Jay Conner’s experiences and strategies reflect a profound understanding of real estate financing, blending traditional know-how with innovative methods. By focusing on trust, clear terms, and leveraging both private money and “subject to” strategies, Jay has set a precedent for resilient and profitable real estate investment. For aspiring and seasoned investors alike, these insights serve as a valuable roadmap to navigating the complexities of the real estate market successfully.
10 Discussion Questions from this Episode:
- Understanding Private Money vs Traditional Loans:
- What are the key differences between private money lending and traditional bank loans, according to Jay Conner’s experience?
- Initial Approach to Private Lenders:
- How does Jay Conner approach potential private lenders without seeming desperate, and why is this important for establishing trust?
- Impact of the 2008 Financial Crisis:
- In what ways did the 2008 financial crisis reshape Jay Conner’s financing strategies for real estate investments?
- Role of Networking in Securing Funds:
- How did Jay Conner leverage his network, specifically his acquaintance Wayne, to secure his first significant private funding?
- Benefits of ‘Subject to’ Strategy:
- Can you explain the “subject to” strategy in real estate investing, and what advantages it provides to both buyers and sellers?
- High Returns on Investments:
- Why does Jay Conner offer an 8% return to his private lenders, and how does this compare to local CD rates both now and in 2009?
- Handling Market Fluctuations:
- How does Jay Conner’s philosophy of focusing on personal response over market conditions help him maintain resilience in a fluctuating real estate market?
- Private Lending Program Structure:
- What specific terms and conditions does Jay Conner include in his private lending program to make it attractive and secure for investors?
- Educational Resources and Conferences:
- What role do educational resources and events, such as Jay Conner’s book and the Private Money Academy Conference, play in educating potential private lenders and real estate investors?
- ROI and Business Sustainability:
- How does Jay Conner ensure his business remains profitable while providing significant returns to his private lenders? How does his strategy of buying properties at a discount factor into this?
Fun facts that were revealed in the episode:
- Jay Conner’s strategy allows him to buy properties without using his own money, emphasizing an 8% return to private lenders which is significantly higher than typical CD rates.
- Jay doesn’t invest virtually; he focuses exclusively on his local North Carolina market, with a preference for median-priced single-family homes, condos, and townhomes.
- Jay uses a “good news” phone call method to approach lenders with specific investment details, creating a pleasant investing experience without appearing desperate.
Timestamps:
00:01 Jay raised $2M privately and earned $70K/deal.
05:49 Shifted from mobile homes to single-family real estate.
08:34 Studied private money; shared within the network.
09:54 Eliminate rejection fear by asking and sharing.
14:04 I secured a lender by offering terms.
16:30 Opened real estate investing business; seeking referrals.
21:18 Buy on terms, sell on terms, flip houses.
26:27 Rehab costs vary; typical $40-$50k, uncommon $175k.
27:17 No early payoff penalty; 9-month rehab cycle.
32:27 Profit if sold: $50,000 after loan payoff.
35:57 Buying houses, up to $1,000,000 ARV.
39:28 Purchase real estate with existing notes, and private money.
41:55 Private money helps buy quickly and offers flexibility.
43:46 Investor adaptability trumps market fluctuations; focus there.
47:32 Lost credit, found better funding, business tripled.
50:36 Line up money first, then secure deals.
Connect With Jay Conner:
Private Money Academy Conference:
Free Report:
https://www.jayconner.com/MoneyReport
Join the Private Money Academy:
https://www.JayConner.com/trial/
Have you read Jay’s new book: Where to Get The Money Now?
It is available FREE (all you pay is the shipping and handling) at https://www.JayConner.com/Book
What is Private Money? Real Estate Investing with Jay Conner
http://www.JayConner.com/MoneyPodcast
Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal.
#RealEstate #RealEstateInvesting #RealEstateInvestingForBeginners #Foreclosures #FlippingHouses #PrivateMoney #RaisingPrivateMoney #JayConner
YouTube Channel
https://www.youtube.com/c/RealEstateInvestingWithJayConner
Apple Podcast:
Facebook:
https://www.facebook.com/jay.conner.marketing
Twitter:
https://twitter.com/JayConner01
Pinterest:
https://www.pinterest.com/JConner_PrivateMoneyAuthority
Strategic Private Money Raising: Jay Conner Raised $2 Million in 90 Days
Narrator [00:00:01]:
If you’re a real estate investor and are wondering how to raise and leverage private money to make more profit on every deal, then you’re in the right place. On raising private money, we’ll speak with new and seasoned investors to dissect their deals and extract the best tips and strategies to help you get the money because the money comes first. Now here’s your host, Jay Conner.
Ryan Bevilacqua [00:00:30]:
Welcome to the Weekly Juice Podcast, where we discuss all things real estate, personal finance, investing, entrepreneurship, and the many ways to achieve financial independence. We interview accomplished investors and entrepreneurs with the goal that their stories inspire you to take control of your financial future. Here to get your creative juices flowing while also documenting their investing journey are your hosts, Cory Jacobson and Ryan Bevilacqua.
Ryan Bevilacqua [00:01:08]:
Welcome back to the weekly juice. As always, it’s your boys, Ryan and Cory, here with another episode. Today, we had the pleasure of interviewing Jay Conner. He is a real estate investor out of North Carolina. He’s been in the biz since 2003 and has rehabbed over 450 homes which averages $78,000 per deal. He mentions he does a lot of flips right now. We also got into talking a lot about sub-to and creative financing, which was fun. But he consults 1 on 1 with investors and aspiring investors on how to become private money lenders.
Cory Jacobson [00:01:37]:
Yeah. People need to get ready for some Southern energy in this episode. He has maybe the best intro that we’ve heard, if not all time in the last 100 episodes or so. He has this like we call charisma. Like, this is just a spark. He’s a great salesman. But one of the things that Jay talks about is his story about how in 2003, 4, 5, all the way up to 2,007 and 8, he had a real estate business that had a home equity line or a line of credit for his business that was up to $1,000,000, and it just got shut down by the bank when the financial crisis happened. And Jay talks about his response to that.
Cory Jacobson [00:02:15]:
And it immediately within 90 days, he was able to raise privately $2,000,000 over $2,000,000, and that just sparked the rest of his journey of, like, going from using traditional bank financing to using private money. And Jay lives in a town or a community of 40,000 people. So it’s not like he has this huge massive network and he’s in a big city. Like, he did this in his backyard in North Carolina, and, you know, he makes $70,000 per deal. And I just want people to listen to the way he talks, the way he communicates. He’s so precise and succinct, and he’s just got a great personality, and it was just fun to listen to him. I was, like, on the edge of my seat, like, waiting for the next one-liner or thing that he was gonna say just made me, it was just a fun, like, happy episode, I guess. Totally.
Ryan Bevilacqua [00:02:58]:
And it made me think about if I was on the receiving end of this or, like, in a pitch for becoming a private money lender or wanting to lend my money out to someone. The confidence he exudes, but also the knowledge of the industry and then the energy. He’s likable. Yeah. Easy to trust. Maybe it’s the southern thing. I don’t know what it was, but he knew stuff. He’s been in the business for a very long time.
Ryan Bevilacqua [00:03:17]:
He’s got a great story. He wrote a book. He offered a bunch of freebies for our listeners if you wait till the end. So I think overall, you guys are gonna like this episode. It was a burst of energy. And without further ado, I think we bring in Jay. When you have investment properties and tenants, you need a good system in place for collecting rent to make it as easy as possible, and RentReady can help you with everything. When you sign up for RentReady, you can start adding your properties, inviting tenants, and creating charges.
Ryan Bevilacqua [00:03:41]:
You can even set up automatic rent reminders and create auto late fees as well. For tenants, they can pay via ACH, card, or even cash using RentReady’s web and mobile apps. They can also use an automatic payment setup and sign up for rent reporting so they get rewarded for paying rent on time. RentReady saves you time and hassle by automating rent collection, and you can manage everything from one dashboard. For our Weekly Juice listeners, RentReady has given us a special 50% off for any Rent Ready plan using our code weeklyjuice@rentready.com. That’s rentredi.com using the code weeklyjuice. That’s weekly juice to save 50% off any rent-ready plan. Jay, officially welcome to the Weekly Juice Podcast.
Ryan Bevilacqua [00:04:24]:
Cory and I are so excited to have you on the show. We just talked a little bit prerecording about a lot about, raising private money, and I think you have an amazing skill set to share with
Jay Conner [00:04:34]:
Our listeners. And we’re excited to hear the backstory of how you got into real estate. So we appreciate you joining us. Ryan and Cory. Let me tell you, I’m so excited to be here with you, and I’ll tell you why. My lands and private money have had more of an impact on my real estate investing business than any other strategy, any other technique that I’ve learned when I was cut off from the banks. It was the biggest blessing in disguise for goodness’ sake. In less than 90 days, I raised $2,150,000 after losing my line of credit.
Jay Conner [00:05:08]:
But, you were asking about how I got started in real estate and that type of thing. Well, I was raised in a family. My father was in the housing business. My dad, he’s 90 years old now, just had his big 90th birthday party and, he was in manufactured housing. He was the largest retailer of manufactured homes, mobile homes if you will, for decades. So, I was always around, the industry and the company of helping people own a home. I was just focused on affordable housing. Well, way back in 2003, the financing for that product went away.
Jay Conner [00:05:49]:
The whole industry fell out of favor with Wall Street. Well, I knew if I ever got out of manufactured housing and mobile homes, I wanted to get into single-family houses. So for the 1st 6 years from 2,000, from 2003 to January 2009, I relied on the local banks to fund our deals. Single-family deals. I’ve done commercials as well, shopping centers, etcetera. But the focus has been on single-family houses. So for the 1st 6 years, all I knew to do to get my deals funded, my real estate deals funded, was to go to the local bank, get on my hands and knees, put my hands underneath my chin, and beg and say, please fund my deal, you know, and give financial statements and verification of income and all that kind of stuff. And so, anyway, that’s all I know to do.
Jay Conner [00:06:42]:
Well, the biggest blessing in disguise came in January 2009. Now I know, Cory and Ryan, it may be hard for you to believe, but here in Eastern North Carolina, we still have handsets and cords that are attached to them. It’s it’s called a landline telephone. Anyway, I was sitting here at my desk and I called up my banker, January 2009, and here’s where the pivot happened. I called him up. I told him about these 2 deals that I had under contract, these 2 single-family houses, to fund and I’ve had a line of credit there. At least I thought I still had a line of credit there. And I found out very quickly in that conversation that my line of credit had been shut down with no notice.
Jay Conner [00:07:27]:
And I sat here and I thought to myself and I said, Steve, I said, what do you mean my line of credit is closed? I’ve had a great relationship with you and the bank for 6 years. He says, Jay, don’t you know there’s a global financial crisis going on right now? I said, no. But now I’ve got a financial crisis. I got these 2 deals under contract over $100,000 in profit. No way to fund them. So I shut down the phone there, with Steve, and I thought you’re here for a moment. And here’s a rider downer. By the way, these people go in and say every problem you have is an opportunity.
Jay Conner [00:08:02]:
I wanna throw up. I didn’t have a problem. I mean, no opportunity. I had a problem. Right?
Ryan Bevilacqua [00:08:06]:
Yeah.
Jay Conner [00:08:07]:
So I sat here and I asked myself a question. I said, who do I know that can help me with my problem? And so, I mean, I had a choice. I could have quit. I could have gone to the house, you know, and, but that wasn’t one of my choices. And so immediately I thought of my friend, Jeff, who lived in Greensboro, North Carolina at the time. He was investing in real estate. I told him what had happened. He said, well, Jay, welcome to the club.
Jay Conner [00:08:34]:
I said, what club? He said the club is being shut down at the bank. I just lost my line of credit last week. I said, well, Jeff, how are you gonna fund your deals? He says, have you ever heard of private money? I said, no. He says, have you ever heard of self-directed IRAs? I said, no. And so, I studied private money. What it is, what it was, and I studied how you sell how people can use their retirement funds to be a private lender, and how they can use their investment capital to be a private lender. And so, I simply started sharing, first of all, with people in my network. People I went to church with, people at the Rotary Club, people on my cell phone.
Jay Conner [00:09:16]:
I just started sharing with them my private lending program. In other words, I started sharing with them how they can earn high rates of returns safely and securely. So what did I do? I didn’t ask anybody for money. You know, the traditional way of borrowing money is you go to the bank, go on your hands and knees and you ask and you apply. In this world of private money, there’s no asking, no begging, no selling, no persuading. You’re not asking for a mortgage, you’re offering a mortgage. Right? So what did I do? I put on, I put on my teacher hat. Right? So my teacher hat says, private money teacher.
Jay Conner [00:09:54]:
So here’s the deal. So many times new real estate investors will say to me, they’ll say, Jay, I’m fear of rejection. You know, I’m afraid nobody’s gonna loan me money, and here’s the deal, and here’s another rider downer. How can you be rejected if you’re not asking for anything? You see, we separate the conversation with a new potential private lender of, here’s how you can earn high rates of returns safely and securely. By the way, the whole program is in my book that I’ll give your audience for free, but here’s the interest rate we’ll pay. Here’s how you protect it. Here’s how you can get your money back early in case of an emergency, and so we just share the program. And so when they say, Yay.
Jay Conner [00:10:35]:
I love the program. Or they’ve got retirement funds, well, I’ll introduce them to our self-directed IRA company that we recommend to get their retirement funds moved over so they can be a private lender. So I never you see, desperation has got a smell to it. I never I’ve pitched a deal. I never talked about private money in my first conversation with a new potential private lender, and I got a deal. Like, the worst time to be looking for private money is when you have a deal under contract. That’s why I say, get the money first. Get the money lined up first.
Jay Conner [00:11:07]:
There’s always gonna be deals. So then when we’ve got a deal to get funded, we simply pick up the phone, we call the private lender that’s already told us how much money they’ve got that they want to invest, and I’ll call them up and I’ll tell them 4 things. So here’s another rider down. Or what 4 things do I tell the private lender that’s waiting for the phone call? The first thing I tell him is I say this is what we call the good news phone call. This is the good news phone call. I have good news for you. I can now put your money to work for you. See, they’ve been waiting for the phone call.
Jay Conner [00:11:38]:
Right? I can put the money to work for you. And then I’ll tell them 4 things. I’ll say, I got a house in Newport, so I tell them where the property is located, the area. I’ll tell them the after-repair value. I’ll tell them the money that’s required for the deal. I know they got the money. They already told me they got the money, waiting for the phone call. And then I tell them when the closing date is.
Jay Conner [00:11:59]:
And, you know, typically that’s about a week out and they’ll wire their funds. So for example, Cory, let’s say you’re one of my new private lenders and you’ve told me you’ve got $150,000 to use. I call you up and say, Cory, I’ve got great news. I can now put your money to work. I’ve got a house in Newport with an after-repaired value of $200,000. The funding required for it is $150,000 and, the closing is gonna be next week, next Tuesday. You’ll need to have your funds wired to my real estate attorney by next Monday. That’s the end of the conversation.
Jay Conner [00:12:35]:
I didn’t ask the private lender if they wanted to do the deal. That’s the most stupid question in the world I could ask them. Of course, they want to do the deal, particularly if they move the money from their retirement funds over to a self-directed IRA. They’re not gonna make any money until you do put the you’re morally and ethically bound to put their money to work if you’ve showed them this and now they’re waiting for the good news phone call. So no asking, no begging, no chasing. It’s all about serving and offering, and as a result, the money’s chasing you instead of you chasing the money.
Cory Jacobson [00:13:12]:
Well, Jay, I don’t know if we’ve had an introduction or an opening, statement, if you will, as as, as charismatic as that. So thank you very much. We appreciate it. I think I’m curious. You know? Did you always I don’t wanna use the word salesman as, like, a a sleazy thing because that’s not what I mean because we’re sales guys? Have you always known that you had this ability to be able to you’re saying you’re not persuading? I understand that. But to to get people to know, like, and trust you, do you have that build when did that ability come? Because I could tell it was in the first 5 minutes of hearing you.
Cory Jacobson [00:13:46]:
I’m ready to wire you some cash. You know what I mean? So it and it that’s a good thing. I’m curious. Like, out of the desperation that you had, you had this problem, when did you know that you had the ability, or how long did it take you to realize you had the ability to go raise money from people that were just in your community?
Jay Conner [00:14:04]:
So as I said, I didn’t ask anybody for money, but let me tell you what I did ask for. So I’m so glad you asked the question this way. So the best way to teach this and share it with your audience is to tell a short story as to how I got my first $250,000 private lender. So, you know, as I said, I go on the phone with Jeff. So first of all, I had to put my program together. What do I mean by that? I had to decide what interest rate was I going to offer. How, you know, how could they get their money back early in case there was, they had some kind of emergency? Well, I decided I’m to put in the promissory note a 90-day call option.
Jay Conner [00:14:46]:
So they can give me 90 days to, you know, get their money back in case of an emergency. So I put, you know, what’s the length of the note gonna be? Well, I decided I was gonna make the length of the notes 2 years. Okay? So, I put my program together, and then here’s what I did. This is called the indirect method of conversation. The indirect method. So, here’s how it goes. It was on a Wednesday night at 7:30. My wife, Carol Joy, and I were on our way to Bible study here on Barber Road in the Church of Christ.
Jay Conner [00:15:19]:
And so we got there and I knew who I wanted to talk to after Bible study on Wednesday night. So I walked in the foyer and I walked up to the gentleman. His name was Wayne. I walked up to Wayne and I said, Wayne, I said, I’ve got something that I’d like to talk with you about confidentially after Bible study tonight. Would you be available to get together for a few minutes? He said, sure. So we had Bible study and Bible study’s over and so we get together in the nursery after Bible study. I shut the door and here’s exactly what I said to Wayne. I said, Wayne, you know everybody in this community.
Jay Conner [00:15:59]:
And he did. He was the original Zenith Television dealer in Moorhead City, North Carolina. And if you don’t know who the Zenith Television dealer was or is, then you don’t remember life before Walmart came into town because you went to the Zenith Television Dealer to buy your TVs before Walmart. So I said, Wayne, you know everybody. You’ve installed a television in everybody’s house here in the local community. You’re in the Rotary Club. You’re connected everywhere. I said, Wayne, I need your help.
Jay Conner [00:16:30]:
And I said, Wayne, I’ve now opened up my real estate investing business to people I know and trust and it’s by referral only. I’m paying insane high rates of return. And so here’s what I need your help with, Wayne. When you run across somebody they’re complaining about the volatility of the stock market, losing money in the stock market, or complaining about the stupid low rates they can get at the local bank in the form of a certificate of deposit, would you refer them to me and I’ll tell them about my private lending program? What do you think Wayne said? Wayne said, well, now, brother Jay, what you talking about? What kind of rates are you paying? And I said, well, that depends on the deal. I said, but are you saying you and your wife might be interested? He said, well, yeah. We might be interested. We’re making only 3% in the local CD and that’s what the rates were back in 2009. He says, and we’re losing money.
Jay Conner [00:17:27]:
The stock market, you know, it’s volatile all over the place. He says, you know, what kind of rate are you paying? And I said, well, what sounds high to you? And he said, well, we’re getting 3% in the local bank. He said, I don’t know. I guess 5% sounds pretty high. I said, well, Wayne, I can’t pay you 5%, but I can pay you 8%. He said, Put me down for $250,000. So I went to his home, his and his wife’s home the next day afternoon and I went over the private lending program which is in my book, How to Teach a Potential Private Vendor How Your Program Works. What’s the right now notice I’m not talking about any deal.
Jay Conner [00:18:08]:
Also, notice I’m not bringing up those other two deals that I’ve got under contract, right, that are still hanging out there that I don’t have funded. Because you see, even if you are not trying to sound desperate, if you talk about private lending to someone that’s never done it and you got a deal and he’s funded, you’re sounding desperate without even trying to sound desperate. So we separate those conversations of the program. So they pledged nothing to sign. They pledged $250,000. So then 3 days went by, and I was patient. 3 days went by and I called up Wayne with the good news phone call. Right? And I told him about this, the house that I had.
Jay Conner [00:18:51]:
Well, I should tell him about one house. I didn’t tell him about the other one. And so you see how important that process is because we want to separate offering an opportunity. Right? With actually having a deal for the private lender to fund. And I’ll tell you, today, I’ve got here’s something interesting. Today, I’ve got 47 private lenders, and individuals that are funding mine and Carol Joy’s deals. And you know what? Not one of them had ever heard of private money private lending, or self-directed IRAs. And by the way, there’s another rider downer, actionable item, establish a relationship with a self-directed IRA company So that when you’re talking with someone and you find out they’ve got retirement funds and they’re interested in getting higher rates of return safely and securely, then you’ve got somebody to refer them to talk about how what’s that look like of moving retirement funds over to a self-directed IRA company.
Jay Conner [00:19:59]:
So having these relationships in place is so important as well. Totally.
Ryan Bevilacqua [00:20:04]:
Can you talk about the types of deals that private money is good for? I know there’s a multitude out there. But, for example, you mentioned you had a couple in your back pocket. It’s good to get the money first. It’s worse. We’ve established that. But it’s also what kind of deals are you finding or strategy are you using to find that spread. Right? So you can pay back the private money letter, but then also you make a little bit on your back end as well.
Jay Conner [00:20:27]:
So on the single family so so you raise private money for different types of real estate projects. Right? I mean, I’ve done shopping centers, but my focus, ever since, really my focus since 2003 has been single-family houses. So, our average profit right now is $78,000 per house. So, for us to make that kind of profit, we have to be buying these houses at a discount. Right? So, typically, we are so I’m not gonna borrow more than 75 percent of the after-repaired value. I didn’t save the purchase price. Big difference. So, I’m not gonna borrow more than 75% of the after-repair value.
Jay Conner [00:21:18]:
So, for example, if I’m, you know, considering and making an offer on a house that’s got an after-repaired value of $200,000, well I’m not going to borrow more than 150. But, let’s say that house takes 30 or $40,000 in rehab to make it beautiful and I’m gonna flip it. So in this market today, I’m flipping most of the houses. However, if I buy a house, side note, if I buy a house on terms with creative financing, which I know you all know a lot about as well. If I’m buying a house on terms subject to the existing note, seller financing, etc., then typically I’m gonna sell it on terms. Right? I’m not gonna cash out. So buy my my criteria or rule of thumb is buy on terms, sell on terms. Pay all cash with private money or your cash, cash out because I don’t want a bunch of cash whether it’s private money or my cash buried in a property.
Jay Conner [00:22:14]:
But back to what I was saying. After the repaired value of 200 $1,000, I’ll borrow up to 150,000. Maybe it’s got 30 or 40 in rehab needed. Well, I buy $200,000 after repairing houses all day long for 80 to $100,000 because we have a motivated and, you know, a distributed motivated seller and a distressed property. So most of them are single-family houses. But in addition to that, you can use private money, and raise private money for syndication. I know you guys have done that. And so the difference is you’re going to syndicate or raise money, from private lenders to invest in a fund, typically, for your larger projects, commercial deals, apartments, etcetera.
Jay Conner [00:23:01]:
But everything that we do with private money in this world of single-family houses is what we call one-offs. One-offs. So these private lenders are not investing in a fund. They are getting a promissory note and a deed of trust or a mortgage, so we’re not borrowing unsecured money. And their investment, right, is backed by the real estate that I’m buying. Real quick. I know Cory has one, but
Ryan Bevilacqua [00:23:26]:
I wanna jump in here. You mentioned the 8% return. Is that standard across all of your deals, or do you offer to you know, maybe if there’s a larger spread, maybe a higher percentage? You know, 8% is great. It’s there’s nothing wrong with it. But, you know, if you’re an investor out there, obviously, a nice 18% 12 to 18% would be a little bit sexier. Now I don’t know where you’re finding that. I’m just you know, your hands are in the weeds.
Ryan Bevilacqua [00:23:48]:
Right? So you can kinda manipulate these deals based on your skill set. I’m just curious if you ever offer any higher and maybe what strategy would be implemented there? Is it still a flip, or maybe you bought it at the right price? Maybe give some insight there.
Jay Conner [00:24:00]:
Sure. So, I have discovered and observed over all these years, private lenders talk among themselves. Alright? So a lot of our private lenders know each other. K? Rotary Club, go go to church together, etcetera. And so they taught. So I established at the very beginning of of getting into this that I was going to pay them all the same. I was going to pay them all the same. That’s why when Wayne told me he was happy with 5% I said, well, Wayne, I can’t pay you 5, but I can pay you 8.
Jay Conner [00:24:33]:
I had already established what I was going to offer. By the way, no points. I never paid any points or origination fees to a private lender. Never paid any extension fees. Right? So I pay a straight 8%. It’s been the same since 2009 and, you know, interest rates have been all over the place since 2009. I mean, before COVID, the local certificate of deposit at the local bank got down, to a quarter of a percent. Well, as of today in this market, you know, you can go get 5% off a 12-month CD.
Jay Conner [00:25:08]:
But here’s the deal. 8% is still a whole lot better than 5%. Right? Sure. Yep. Absolutely. So I’ve kept it all the same and then I don’t have to remember how much am I paying one and how much am I paying that one. And so I’m glad you asked this question, Ryan. And that is, you said, have I ever offered them, you know, a high rate or a percentage of the deal on the back end? And the answer is no.
Jay Conner [00:25:33]:
That’s joint venturing. Nothing wrong with joint venturing. I know a lot of people that joint venture with their private letters and, you know, give them a piece of the action on the back. But I decided that, at the very beginning, the private my private letters were going to be just like the bank. Just like the bank. They were gonna know exactly what return they were gonna get, and then, you know, they were gonna be
Ryan Bevilacqua [00:25:54]:
The bank. So really quick. Sorry. You’re good. I just wanna just paint the picture for someone listening. I’m sure we got a lot of people driving in the car thinking about this, and we’ll make a basic one. So it’s not a ton of numbers. But, like, say, for example, someone gives you $100 and you’re gonna dump that into a deal, and you’re promising an 8% return.
Ryan Bevilacqua [00:26:12]:
Is your timeline typically 12 months? So at the end of 12 months, they’re getting $8,000 and it’s a lump sum. Can you just talk about Plus their principal? Yep. Plus the $100. Yeah. Yeah. Yeah. Exactly.
Ryan Bevilacqua [00:26:22]:
So they’re coming out with 108. I’m just curious about how the timeline works. Sure.
Jay Conner [00:26:27]:
So it depends depends on the property. So most of our rehabs that we’re doing on single-family houses these days, most of those range in the 40 to $50,000. Right? But I just finished a rehab that was, 175 $1,000 just to rehab. That was very out of the ordinary. Very out of the ordinary. So I do the notes for 2 years, but typically in this market you see, I may have a house sit there after I buy it for 3 months before I get any of my crews or my contractors there to rehab it. So the clock is ticking. The private lender starts earning interest from the date of closing, and they only get the interest earned for the period that I’m using the money.
Jay Conner [00:27:17]:
So there’s no penalty for me to pay off the note early if we get the deal done. So in today’s market, I’m typically in a deal and out of a deal within 9 months or so. Right? From the time the rehab starts until it’s finished, which the rehab how long does the rehab take? Rehab is going to typically take about 2 to 3 months depending on the extent. Sort of my rule of thumb is is your contractor, if you’re doing a rehab, should, should use up about $75100 a week, 15,000 in 2 weeks. Right? As as just sort of a gauge. So right now in this market about 9 months. Now, when do they get paid? When does the private lender get their get their interest money? So I leave it up to the private lender. I’ve got some elderly private lenders that need the monthly payment income because that’s what they’re living off of.
Jay Conner [00:28:17]:
They don’t want to touch their principal investment amount, but they’re living off of that. So I’ll pay them monthly interest payments. By the way, I always bring home a big check when I buy. Always bring them a big check because I always borrow more than I need to buy. And so anyway, some get monthly payments. But if I’m doing, you know, a flip in 6 or 9 months and the person doesn’t need the monthly payments, then we’ll just let the interest accrue. K. And then when we cash out, they’ll get all of their principal investment back and the interest that they’ve earned during that period.
Jay Conner [00:28:53]:
So this 8% that I pay is an annual percentage rate, but if I’m in and out in 9 months, they’re not gonna get $8,000 on a 100,000. They’re gonna get 6,000 because I only used it for that period of time. Now, of course, the private lender’s gonna want me to get that money put back to work just as soon as possible because they’re not earning any money unless it’s invested.
Cory Jacobson [00:29:16]:
Sure. This is perfect. You mentioned I wanna go back to what you said, Jay. You mentioned something about getting a pay a payday or a check when you buy. I’m curious if this has anything to do with how you cash 3 big checks on every real estate deal. Can you talk about that, that sounds sexy, and I’m really curious about how you structured deals to allow yourself to do that. Absolutely.
Jay Conner [00:29:41]:
So let’s go back to the same example. Say we’ve got a house that’s got an after-repaired value of $200,000. And again, that same example got a rehab say of, you know, $30,000 for the easy figure. And I buy those houses all day long for 200,000. So let’s say I’m excuse me. 100,000. So let’s say I’m I say 50% of the after repaired value. Right? I mean, when I hear after repaired value of 200,000, I’m legally thinking I’m buying this house between $70 a100000.
Jay Conner [00:30:11]:
Right? For the average rehab. So, follow the money. So, follow the money. How do I get that first big check? Remember, I can borrow up to 75% of the after-repair value. Well, the after-repair value is 200,000. So, Cory, I’m gonna put you on the spot. Here’s your first test question. Here’s your first math test question.
Jay Conner [00:30:37]:
Yep. I got an after-repair value of 200,000. Yep. I’m borrowing 150,000, so the private lender is wiring that $150,000 to my real estate attorney’s trust account. I’m buying it for $100,000. After repairing the value 200, I’m borrowing 150 at closing. I’m buying it for $100,000. How much is my big check when I buy it?
Cory Jacobson [00:31:06]:
Sounds to me like it’s $50,000.
Jay Conner [00:31:07]:
That’s exactly what it is. It’s 50,000 less closing costs. Right? Right. Less closing cost. So in that example, I’m bringing home a $50,000 check when I buy and taking no money of my own to the closing table. Let me tell you my favorite phrase on my real estate attorney’s, check stub that I pick up is excess cash to close. And let me tell you something, I love me some excess cash. And, I mean, there’s nothing more fun.
Jay Conner [00:31:36]:
You stop and think about it. You buy I mean, raise your hand if you wanna get paid to buy houses. Right?
Cory Jacobson [00:31:42]:
And take your raise your hands if you’re watching on YouTube. We’re we’re all raising our hands.
Jay Conner [00:31:46]:
Take none of your own money to the closing table and get a big old fat check. Well, how did that work? After that, that does not work unless you’re buying at a discount. Right? That’s not working if you know, on creative financing and buying subject to the existing note, shoot. If the house is in good condition, you can pay 100% retail value if you’re gonna turn around and sell it on terms. But anyway, back to the 3 checks. So I get a big check when I buy when I’m paying in cash. Now, if I decide to sell it on terms, in this market I’m not if I’ve got cash in it. But, if I sell it on terms, I can get a large nonrefundable lease option deposit.
Jay Conner [00:32:27]:
The legal term is an option fee. So I could get a second check in the middle of the deal if that was my exit strategy, but I’m at least gonna get another check when I cash out. Well, how much, check am I gonna get if I sell it at 200,000 after repaired value and I still owe the private lender 150,000? Remember, we borrowed a 150,000. We’re letting the, we’re not paying down any of the principal. By the way, that’s a win-win for the private lender and you, the borrower, the real estate investor. They make more money if you don’t pay principal and interest if there are monthly payments. And if you’re making interest-only payments or just letting it accrue interest, they’re making more money because they’re letting all of their principal stay invested in the deal. So back to it closing, how big of a check do I get when I close? I sell it for 200,000.
Jay Conner [00:33:22]:
I still owe the private lender 150,000. Well, I’m gonna get a $50,000 check less any accrued interest that I need to pay. If I listed it with a realtor, less realtor fees. Right? So 50,000, if I’m paying my realtor a realtor fee, that’d be less a 10,000. So now I’m down to 40 and then, you know, maybe a little bit of accrued interest that’s part of a month of interest. So I got a $50,000 check when I bought less closing costs. Did I get to keep most of that money? No. No.
Jay Conner [00:33:55]:
Most of that that’s the rehab. Right? Most of that money went to rehab. 30,035,040. Maybe I only kept 10,000 out of that check. Do I get to keep most of the money when I sell it in cash out? And the answer is yes. I’m keeping most of that $50,000 check, less my realtor fees if I listed it and, you know, less, you know, less any closing cost. Got it. It’s great.
Jay Conner [00:34:21]:
So that makes perfect sense. My question was gonna be, are you paying the majority of that first check to the rehab? But it sounds like
Cory Jacobson [00:34:27]:
You answered that, so thank you. You are. So this system that you have is awesome. How are you finding some of these deals? And do you have a specific buy box that is like, okay? You know, I buy 3 beds, 2 baths in x in x place in North Carolina. Like, what is the way that you’re finding these deals so that you can have a consistent pipeline for the private money lenders to make a return?
Jay Conner [00:34:51]:
Over to you, your entity, whatever entity you’re buying in, and you, the buyer, real estate investor, you are agreeing to make their monthly payments. Now, it subject to is not assuming a loan. Assuming a loan means that the lender, that’s got that mortgage, is now approving you, the buyer, to take over that loan. That’s an assumption. Subject to is not an assumption. The lenders have nothing to do with the deal of you buying it subject to. Those numbers work out okay. Right?
Cory Jacobson [00:35:24]:
Yes. They do.
Jay Conner [00:35:25]:
So how am I how am I finding these? So what’s my buy box? I’ll buy any single-family house here in my local area. So I made a business decision. I don’t want to invest outside my area. I have a lot of good friends who do virtual investing. I have a lot of wholesaler friends who do virtual investing. But I made a, you know, I’ve never wholesaled or done in my life. I know how to wholesale a deal, but, I like 78,000 better than 12 or 15,000 on wholesale. But anyway, so I buy here locally.
Jay Conner [00:35:57]:
I will buy any house. Our median price point, by the way, is right at 325,000 is our median price point. I’ll buy any house up to an after-repaired value in today’s market of $1,000,000. So, and, you know, we’re in a resort area, so we got homes on the beach. We got houses here on the mainland. So the most expensive home I’ve done had an after-repaired value of $900,000 and that was a couple of years ago. I just bought one last week after a repaired value of $525,000. I closed on it with private money for $325,000 and the rehabs only 50,000.
Jay Conner [00:36:40]:
So I’ll buy up to $1,000,000 after the repaired value. I don’t care how many beds or baths. Single family. I’ll also do condominiums. I’ll do townhomes. I’m not gonna do duplexes. I’m not gonna do duplexes unless I’m able to buy that on terms and then either rent it out or sell it on terms. But cashing out, not many people want to buy duplex.
Jay Conner [00:37:04]:
So sort of my my buyer pool is lower. But let me give some advice based on my experience in 2003. I keep the majority of the deals that I buy. I keep the majority of them around the median price point and here’s why. That’s where most of your buyers are when you’re going to sell a house. Most of your buyers, first-time home buyers, are around that median price point.
Ryan Bevilacqua [00:37:32]:
So I wanna be able to sell it really, really fast. Cool. Thanks for that. Can you you mention the subject to the existing mortgage and, sub two briefly here? Can you talk about let maybe just give us an example of a deal you’ve done or one that we can educate listeners on what sub-two is and how you buy and exit using the same strategy, maybe owner finance, woven within your call, but just a simple one like we’ve been going through.
Jay Conner [00:37:58]:
Sure. So, of course, buying subject to means that the seller of the property so you’re only going to buy subject to when you’re dealing directly with the owner of that property, for sale by the owner. So, buying subject to means that the seller of the property is willing to sell you their house, transfer title, deed, and ownership over to you, your entity, whatever entity you’re buying in, and you the buyer, real estate investor, you are agreeing to make their monthly payments. Now, it subject to is not assuming a loan. Assuming a loan means that the lender, the or that’s got that mortgage, is now approving you, the buyer, to take over that loan. That’s an assumption. Subject to is not an assumption. The lenders have nothing to do with the deal of you buying it subject to.
Jay Conner [00:38:52]:
It’s already online 204 of the HUD settlement statement. Your real estate attorney doesn’t even have to create anything to make this happen. It’s already there. So you buy and subject to the existing note. Now, you own the property. The mortgage stays in the seller’s name and you’re making the payments on that until you eventually cash out or sell it or what have you. Now the interesting thing about buying subject to is you’re able to combine private money strategy with subject to strategy. So how does that work? You can buy a house subject to the existing note.
Jay Conner [00:39:28]:
You can buy any kind of real estate subject to the existing note, but most of the time it’s single-family houses. Well, if there’s enough equity in the property and you bought it at enough of a discount, you can borrow a smaller amount of private money. Maybe it needs some repairs, you know, maybe it needs 20,000 or 30,000 in repairs. You want to fix it up nice or whatever. Or maybe you’re buying a foreclosure directly from the person that’s for sale by the owner. Well, guess what? If they’re in foreclosure, they’re behind on payments. So you can buy that foreclosure subject to the existing note And then you can use private money, a smaller amount of private money in 2nd position, also known as a junior lien position, and put that in 2nd position. The private lender still gets their notes and still gets their mortgage or deed of trust to collateralize their note.
Jay Conner [00:40:24]:
And now you use that private money, smaller amount, to bring past payments current, you know, do some minor rehab if it needs it. I’ve used that strategy a lot. Right? When I’m not wanting to dig into my own pocket, buy subject to, and if there’s some cash needed, I can put a 20 or $30,000 small amount of money in second position.
Ryan Bevilacqua [00:40:46]:
Got it. So with sub 2, what is the benefit to the seller? Maybe they’re in a, you know, a pinch. Right? I guess my assumption here is they are not behind on payments. Maybe they’re struggling to make their payments. You’re taking over their payments. Right? But how do you agree on a price to get a spread there? And then what’s your exit strategy if you’re gonna, like, roll that into a new you know, maybe owner finance or someone else coming to buy it in or at least at least to own option. I’m trying to figure out, like, the next stage here.
Jay Conner [00:41:12]:
Sure. Well, it depends on their motivation and why they want to sell. Invariably, almost 100% of the time, they are looking for a seller that will sell to you subject to the existing note and is looking for debt relief. They’re looking for debt relief. For whatever reason, making that monthly payment is giving them heartache. So either they are personally, in financial straits for whatever reason. Somebody died, somebody lost a job, somebody got a divorce, and for some reason, they can’t afford that monthly payment anymore. Right? And they’re or they’re needing to move and they’re needing to move quickly.
Jay Conner [00:41:55]:
That’s a great thing about private money and buying subject to the existing note. You can all my offers, I tell you I can close if I put in the right and I can close in 7 days. 7 days. And here’s another thing, when I’m buying, they can’t get out that fast. Right? So I will allow them to stay in the house for an agreed-upon period and I will give them half of the cash that’s coming to them. Now if they’re selling for what they owe, obviously there’s no cash there coming. But if they’re in foreclosure, I always give them 3 or $4,000 to help them get back on their feet. For goodness sake, if my average profit is $78,000 can I not help somebody in distress get back on their feet even if they’re they will sell for what the payoff is? So that’s a beautiful thing about being able to use private money with the subject of strategy.
Cory Jacobson [00:42:53]:
Makes sense. And so debt relief is the answer when the subject comes into play. Really. Yeah. So that’s that’s perfect. So, Jay, you know, anybody that’s done something for 20, 20 plus years, some resilience comes into play, especially having gone through what we did not go through in 2008 because we were 17, 18 years old. So, and we were just weren’t in business. Right? We experienced it, but not at the level that you did.
Cory Jacobson [00:43:20]:
So I’m curious. What do you what is the what has changed? And this is more of like a personal question, but what has changed the most? Or what has been the biggest shift that you’ve seen in the real estate business as a whole since you started, you know, through 2010, 15, 20, and up to now? And the fact that you’re still thriving means that you’ve been able to be, I saw I’ll say it again, resilient enough to to withstand it. I’m just curious.
Jay Conner [00:43:46]:
You know, what the market does doesn’t matter. What matters is you, the real estate investor, adapt to the market. Right? And so, what do I mean by adapting to the market? Well, for example, if you are a real estate investor and you’re going if you’re going to buy some terms deals and buy subject to the existing note, it doesn’t matter what it doesn’t matter what the market does. You know, sometimes people will say, if you buy subject to the existing note and you put a tenant buyer in there, then what happens if the market changes and the values go down? Right? And, you know, you’re upside down. It doesn’t matter. Because if you’re putting a tenant buyer in there, unfortunately, and I’ve even forced people into credit repair, but unfortunately, most of the time the tenant-buyer is not gonna get their act together. Right? And so, it doesn’t matter what the value of the house is. It’s eventually gonna come back anyway.
Jay Conner [00:44:45]:
Right? So I’ve learned that if you’re selling on terms, the longer you own a property, the more money you make, particularly if you’re selling it on terms. So then somebody might say, well, Jay, why do you cash out? Well, it’s just sort of hard to turn down 78,000 and 100,000 and $125,000 profits. It take me a long time to earn that on if I’d sold that property, you know, on terms. So, you mentioned a very, very important word, Cory, and that’s the word resilience. And I tell you what, if anybody’s gonna be in this business, you better be resilient because stuff is gonna happen. Stuff’s gonna happen that you never anticipated happening. So I wanna share a formula with you that I learned from Jack Canfield. Jack Canfield was the co-author, of the chicken, Chicken Soup for the Soul series of books.
Cory Jacobson [00:45:45]:
Oh, okay. I read
Jay Conner [00:45:46]:
Those books. Millions and millions and millions and millions of books. And I’ve gotten to be around Jack, a couple of times, and he’s a great guy. But here’s Jack Canfield’s formula for resilience, and here it is. The formula is E plus R equals O. E plus R equals O. Well, what does that stand for? The E stands for the event. The R stands for response, and the O stands for outcome.
Jay Conner [00:46:16]:
Now, unfortunately, most people walking around in life are living life with a different formula. The formula they’re living life is E equals O. Most people walking through life are letting the tide take them where the tide wants to take them and whatever event comes along in their life, oh, that determines the outcome because I am a victim. That wasn’t my fault. I couldn’t do anything about that. Poor, poor, pitiful me. Well, the Jack Canfield formula, E plus R equals O. You see, the event, you might not have had anything to do with the event, whatever that thing was having in your life.
Jay Conner [00:46:55]:
For example, when I was on the phone with Steve, my banker, I didn’t have anything to do with losing my line of credit. I had an 800 credit score, and never made, or missed out on payments. I did everything I was supposed to and kept my end of the deal, but here I have lost my line of credit. I didn’t bring that event on. The global financial crisis did. But I tell you what I am 100% responsible for and that’s my response, my choice. How do I respond to the event that happened? Right? That’s the wake-up call right there. It ain’t what happened to you.
Jay Conner [00:47:32]:
It’s your response to it. So when Steve told me I’d lost my line of credit, well, I could’ve put my tail between my legs and gone to the house or I could look for another and better and quicker way to fund my deals. So what was my response? I picked up the phone and asked somebody that I knew who could help me with my problem, and so I talked with Jeff. So because of that conversation with Jeff, that was my response to the event and my outcome was a huge blessing in disguise. You see, I only had a $1,000,000 line of credit at the bank when that event happened, but in less than 90 days, I had double that, 2 $2,150,000 from the private lenders. And in the first 12 months after losing my line of credit back in 2009, our business tripled. Our business tripled because we had all this funding. You know, foreclosures were everywhere and the banks were not lending money.
Jay Conner [00:48:36]:
But now I’ve got all this private money cash and I was actually able to pick and choose the deals that I wanted to do. Write or downer, E plus R equals O. And a book I recommend that just came out by doctor Benjamin Hardy about 3 or 4 years ago is amazing. Who, Not How. I bet you all have heard of that book.
Cory Jacobson [00:48:53]:
Yeah. Who, Your Book, Credit
Jay Conner [00:48:55]:
Not How. Right? And that will put you in control and put you in the driver’s seat of your destiny.
Cory Jacobson [00:49:02]:
Well, I love that. E plus r equals o. That is, that’s brilliant, and it’s simple. And it makes a lot of sense because we’ve both been there. Ryan and I have been pissed off about something and just taking it, you know, like, give yourself 3 minutes to be mad and then figure out what your response is gonna be. Right? But, like, don’t wait. You know, don’t be mad for 10 days. It doesn’t help anybody.
Cory Jacobson [00:49:21]:
So thank you. Thank you for that. Speaking of books, I wanna talk about your book. You mentioned, in the beginning, I’m not even sure if you mentioned the title, but I know that you have something for our listeners here. And your book is where to get the money now. Great title, by the way. How and where to get money for your real estate deals without relying on traditional or hard money lenders, and you’re holding it up now if you’re watching. So talk about your book.
Cory Jacobson [00:49:43]:
Talk about the inspiration to write it, and then talk about where people can access it.
Jay Conner [00:49:47]:
Sure. So the book, by the way, is not downloadable. This is not an ebook. This is an actual book book book that I’ll autograph, and we’ll ship it to you in the mail. 3-day delivery. You can get it on Amazon for $20, but get it from me for free and just cover shipping and handling and we’ll ship it out to you priority mail. This book breaks it down super, super simple, step by step, how to get the private money chasing you instead of you having to chase any money whatsoever. Think about how much more confident you’re gonna maybe when you make offers.
Jay Conner [00:50:22]:
And I’ll tell you one thing, Cory, and, Ryan, and for goodness sake, forgive me if, if I’m getting ready to say something that goes against what you teach. So I’m gonna risk it, and here we go.
Cory Jacobson [00:50:34]:
Risk it. We love it. Bring it on.
Jay Conner [00:50:36]:
So what drives me nuts is the gurus and the real estate investing teachers out there that say, just get the deal under contract. The money will show up. I wanna throw up. I wanna go, where in the world is the money gonna show up? Is it just like gonna rain out of clouds or something? Right? No. So that’s why I practice and I preach get the money lined up first. Think about how much more confident, how many more offers you’re gonna make when you know you got the money burning a hole in your pocket. This book will show you simple step-by-step how to get at least $500,000 in private money lined up for you to use in less than 30 days. So here is the URL website.
Jay Conner [00:51:16]:
I will ship this to you, www.JayConner.com, and I’m an ER, not an OR. www.JayConner.com/book. That’s www.JayConner.com/book, and I’ll ship it right out to you.
Cory Jacobson [00:51:37]:
Great. That’s awesome. We appreciate you doing that for our audience and, you know, just paying shipping and handling seems like a steal here. So, Jay, this has been, enlightening. I love your spirit. I wanna thank you for coming on. I think this is, you know, just it’s you’re just a fun conversation to have, and I can tell that you know what you’re talking about too, so that doesn’t hurt. What’s the best way for people to get in touch with you? Maybe if they wanna network, they wanna learn more about you, they wanna buy your book.
Cory Jacobson [00:52:04]:
Sure. Just go to jayconner.com.jayconner.com.
Jay Conner [00:52:08]:
Right there, we got all of our contact information. You know, we actually pick up the phone when somebody calls. I know that’s, like, hard to believe, but we actually pick up the telephone.
Cory Jacobson [00:52:17]:
Harder to believe is the phone that you just showed us. I don’t know. What I think it was was a corded phone, which I hadn’t seen in years. So thank you for thank you for yeah. Thank you for showing that to our audience and that’s, that’s old school right there.
Jay Conner [00:52:29]:
Well, I’ll tell you what, Cory. I just would tell you I’ve enjoyed being with you and Ryan so much. I’m gonna do something for your audience. I got a $3,000 gift. A $3,000 gift and here it is. I put on live in person 3 times a year the Private Money Academy Conference. Private Money Academy Conference and, here’s the URL. It’s a $3,000 event.
Jay Conner [00:52:53]:
I’m gonna give out a URL website right now where your listeners can come for only a $97 registration fee. And the only reason we charge that is to save the seat so, you know, we’re not kicking somebody else out from the event. But here’s the URL for the $3,000 event for only a $97 registration fee. Www.jaysliveevent.com.jaysliveeventdot com. Jayslivevent.com. And if anybody wants to hear more about private money just on podcast, just, look for my podcast on any of your podcast platforms at raising private money. Imagine that. Raising private money with Jay Conner, I’m super easy to find on the podcast apps.
Cory Jacobson [00:53:43]:
Well, listen, people. I think the proof is in the in the deals. You know, it’s an average $70,000 per deal. Jay sounds like he knows what he’s talking about, and I think he does. So you should check out his book, his podcast, and any other ways to connect with him. Jay, this has been awesome, man. We wanna thank you for coming on. I learned a lot today.
Cory Jacobson [00:53:59]:
I love that formula. We’re gonna that one’s gonna stick in my brain for a while, and god knows we need it in this business. So thanks so much for coming on.
Jay Conner [00:54:07]:
Cory, and Ryan, thank you so much for having me on. God bless you. I hope to see you soon.
Ryan Bevilacqua [00:54:16]:
Thanks for tuning in this week to the weekly juice podcast. If you liked what you heard, please leave us a 5-star review on Apple Podcasts, subscribe, and share with friends. The more ratings we get, the more ears we’ll get on our show. And in turn, we’ll be able to provide you with more high-quality guests. You can also find us on Instagram at Weekly Juice Pod where we post daily tips and tricks and document our journey towards financial freedom. Make sure to tune in every Wednesday to get your weekly juice.
Narrator [00:54:55]:
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 www.JayConner.com/MoneyGuide to get your free guide. We’ll see you next time on raising private money with Jay Conner.
