***Guest Appearance
Credits to:
https://www.youtube.com/@TroyKearns
“How to Buy Real Estate With Other People’s Money – PRIVATE MONEY (Jay Conner)”
https://www.youtube.com/watch?v=h-AogwKTEOA
In a recent episode of the Raising Private Money podcast, Jay Conner—a respected investor, coach, and mentor—joined Troy Kearns to dive deep into strategies that are working in today’s ever-shifting property market. Their candid conversation offered not only actionable insights but also inspiring perspectives for both beginners and seasoned pros.
Navigating Shifting Markets
One thing Jay and Troy agree on: the real estate landscape is always on the move. Rather than fearing change, Jay emphasizes the importance of adapting and staying informed. “You have to stay close to the ground, plugged into what’s happening nationally and locally,” Jay advises. Whether new interest rates, inventory shortages, or emerging technology, savvy investors continuously educate themselves and adjust their strategies accordingly.
Creative Financing is King
Perhaps the biggest theme in their discussion was the power of creative financing. Jay, known as “The Private Money Authority,” shared how he’s helped countless investors secure deals without relying solely on banks or traditional lending. Private money, he explained, means working with individuals—think professionals, retirees, and even neighbors—who are looking for a solid return on their investment, typically backed by real estate.
Jay and Troy broke down the steps: find people who have idle cash or underperforming retirement accounts, show them how lending it in real estate can be safer and more profitable, and structure straightforward win-win deals. Jay pointed out that this approach is especially crucial during times when conventional lending tightens or property values fluctuate.
Building Relationships First
Both Jay and Troy stressed that real estate remains, at its heart, a people business. Whether working with private lenders, sellers, or other professionals, trust and clear communication are paramount. Jay’s personal approach—educating potential investors before ever asking for funds—reflects this philosophy. By building relationships and proving yourself as a reliable partner, you not only secure more deals but also develop a solid network that supports your long-term success.
Practical Deal-Making Tips
Throughout their chat, Troy prompted Jay to share practical advice listeners could apply in the field. Among the tips:
- Focus on Off-Market Deals: Both speakers highlighted the value of sourcing properties before they ever hit public listings. This could mean direct mail campaigns, networking, or leveraging existing relationships.
- Offer Solutions, Not Just Transactions: Jay’s success comes from approaching sellers as a problem-solver—understanding their unique situations and crafting offers that address both their needs and his business goals.
- Always Have Multiple Exit Strategies: Particularly in uncertain markets, Jay suggests having several options for every deal. That might include wholesaling, rehabbing and selling, or holding as a rental.
Mindset Matters Most
Beyond tactics, Jay and Troy delved into the mindset required for true real estate success. Jay spoke candidly about the importance of perseverance, lifelong learning, and thinking like an entrepreneur. “You have to treat this like a business, not just a hobby,” he reminded listeners, emphasizing systems, consistency, and the willingness to pivot when necessary.
Troy, echoing these sentiments, shared stories of tough deals and lessons learned, underlining that setbacks are just part of the journey. For those just starting, both men encouraged taking action, no matter how small the first step, and finding mentors who can offer guidance and accountability.
Final Thoughts
Jay Conner and Troy Kearns’ energetic exchange served as both a tutorial and a motivational kick in the pants. Whether you’re a new investor or a veteran, their advice is clear: adapt to market changes, get creative with financing, put people first, and keep pushing forward.
10 Discussion Questions from this Episode:
- Mindset Shift: Jay Conner talks a lot about the “real estate between your ears.” What mindset changes do you think are essential for real estate investors who want to successfully raise private money?
- Traditional vs. Private Money: What are the biggest differences between traditional financing and raising money from private lenders, according to Jay Conner, and how do those differences impact deal-making?
- Education as a Tool: Jay emphasizes “putting on the teacher hat” when introducing private lending opportunities. Why do you think education is such a powerful strategy in attracting private lenders?
- Fear and Rejection: Many investors struggle with the fear of rejection when raising money. How does Jay’s approach help overcome this fear, and what techniques could you adopt from his method?
- Assumptive Close: Jay mentions using the “assumptive close” rather than pitching or asking for money directly. How might this approach change your success rate in securing funding?
- Building Trust: Jay’s process relies on building trust and relationships before ever pitching a deal. What are some ways you can build similar trust with potential private lenders?
- Self-Directed IRAs: The use of self-directed IRAs is mentioned as a funding source. How does this work, and what are the potential benefits for both the investor and the lender?
- Dealing with Financial Crises: Jay shares how being cut off from traditional bank funding in 2009 forced him to seek out private money, which ended up tripling his business. How can adversity create new opportunities in real estate investing?
- Learning and Growth: Jay references books and masterminds that contributed to his personal and professional transformation. What role does ongoing education play in your career or business growth?
- Adapting Over Time: Both Jay and Troy discuss the importance of adapting and reinventing yourself in business. How can real estate investors ensure they continue to evolve and succeed as the market changes?
Fun facts that were revealed in the episode:
- Jay Conner emphasizes the importance of building strong relationships with private lenders, explaining that trust and ongoing communication are crucial to his real estate investing strategy.
- Troy Kearns and Jay discuss how they both started in real estate with little knowledge and learned most of what they know through trial and error—proving that persistence is key to success in the industry.
- The conversation highlights some creative deal-structuring tactics that Jay uses, such as buying properties with very little of his own money by leveraging private funding, showcasing the power of thinking outside the box in real estate investing.
Timestamps:
00:01 Mindset Shift for Real Estate Funding
03:46 Unlocking Real Estate Private Lending
09:46 Self-Directed IRA Transition Setup
11:41 Trust and Criteria in Funding
17:07 The Power of the Right Question
18:47 Discovering Private Money for Real Estate
22:47 Confidence, Fear, and Business Mindset
24:23 Real Estate Financing Guide
27:31 Jay’s Articulate Expertise Surpasses Peers
31:15 Books, People, and Masterminds
34:20 Follow Jay Conner’s Insights
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
Real Estate Game Changer: Attract Private Lenders Without Fear of Rejection
Jay Conner [00:00:00]:
The reason real estate investors shy away from raising private money is that, first of all, they’re not using the mindset that I have. People ask me all the time, they say, Jay, what’s the first thing I need to do to start raising private money? And I say, you need to own the real estate between your ears. And what I mean by that is we have to have a 180-degree shift in thinking about the traditional way to raise money or to get money in thinking about funding for your real estate deals, the traditional way. And the only way that 99.9% of real estate investors think about getting funding for their deals is that they think they have to apply for a mortgage. They think they have to abide by the rules of the lender. The old thinking, traditional thinking, is that he or she who has the money makes the rules. They think they have to have their credit score pulled and all that kind of stuff. And all of that. The opposite is true.
Narrator [00:01:04]:
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 to raise 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 Connor.
Troy Kearns [00:01:31]:
Welcome to the Troy Kearns podcast. We discuss real estate investing, entrepreneurship, in business to help you retire and become financially free. Make sure you share this podcast with someone who could benefit from it and leave us a five-star review. It truly helps me out. This show will mentor you towards financial freedom. If I can do it, so can you.
Troy Kearns [00:01:53]:
Welcome to the Troy Currents podcast. Today, we’ve got an authority on raising private money. He actually has an entire YouTube channel built on it. His name is Jay Connor. Jay, welcome to the show.
Jay Conner [00:02:04]:
Troy, thank you so much for inviting me to come along. I’m so excited to be here because we’re going to talk about private money. And the reason I’m so passionate about private money is that this one strategy has had more of an impact on my real estate investment business than any other thing I’ve done since 2003. Wow.
Troy Kearns [00:02:26]:
So tell me, like, you know, one of the things I coach a lot of people and a lot of guys, it’s either you got it figured out or you don’t. And why do you think so many people don’t have it figured out when it comes to raising private money? What has made you kind of go full tilt into this? Jay?
Jay Conner [00:02:42]:
Well, my answer and my opinion on that on that the reason real estate investors shy away from raising private money is because, first of all, they’re not using the mindset that I have. People ask me all the time, they say, Jay, what’s the first thing I need to do to start raising private money? And I say, you need to own the real estate between your ears. And what I mean by that is ‘we’ve got to have a 180 degree shift in thinking about the traditional way to raise money or to get money and funding for your real estate deals. The traditional way. And the only way that 99.9% of real estate investors think about getting funding for their deals is that they think they have to apply for a mortgage. They think they have to abide by the rules of the lender. The old thinking, traditional thinking, is that he or she who has the money makes the rules. They think they have to have their credit score pulled and all that kind of stuff.
Jay Conner [00:03:46]:
And all of that, the opposite is true. You know what’s interesting, Troyy? I have 47 private lenders right now that are funding my real estate deals. And you know what? Not one of them, not one of my private lenders ever heard of private money or private lending or self-directed IRAs and how they can use retirement funds to earn either tax-deferred or tax-free interest that I pay them. None of them ever heard about it until I put on my teacher hat, my teacher says, private money, teacher. None of them ever heard about it. And so the reason, back to your question, the reason real estate investors that have heard of private money, and by the way, when I say private money, I’m not talking about hard money, I’m not talking about any kind of institutional money, because hard money is typically an institution, a brokerage that has gone out and raised money from investors to invest in their fund and, and then they turn around and loan that to us real estate investors, that’s not this world we’re talking about. I’m talking about doing business, borrowing money from ordinary people, just like you and me, that loan us real estate investors money either from their investment capital, or their retirement funds. So, the reason real estate investors who even know what private money is and getting money from individuals from ordinary people, the reason those people shy away from it is because they think they’ve got to ask, they think they’ve got to pitch deals, they have a fear of rejection.
Jay Conner [00:05:24]:
How can you be rejected if you’re never asking anybody for anything? So I get the question all the time, Jay. How in the world have you got eight and a half million dollars that you use from project to project to project on, you know, different single-family houses? How do you get all that funding? And you never ask for money. Here’s the answer, here’s the secret. We separate the convert. First of all, you’ve got to have the right attitude. I’m leading with a servant’s heart. I’m sharing this opportunity of being a private lender with ordinary people that’s never heard of it.
Jay Conner [00:06:01]:
And I’m giving them the opportunity. I’m teaching them the interest rate that I will pay. I’m teaching them the maximum loan to after-repair value. In other words, I am my own underwriter. You, as the borrower, you’re your own underwriter. You make the rules, you set the terms. So we teach the opportunity without having any deal attached to that initial exposure. Teaching, having a conversation.
Jay Conner [00:06:31]:
Here’s a writer downer, Troy. Desperation has got a smell to it. And the worst time to be raising private money for funding for a real estate deal is when you need it for a deal. Right? So, I mean, Troy, I’m going to take a little risk. I’m going to step out here on a branch. I’m going to ask you a question. Here’s the question. Have you ever heard the guru on stage, the real estate guru on stage, say something like this? Oh, just get the deal under contract, and the money will show up.
Jay Conner [00:07:07]:
Have you ever heard that?
Troy Kearns [00:07:08]:
I think everybody says that, right?
Jay Conner [00:07:10]:
And, or they’ll say, Oh, just get the deal under contract. Money finds good deals. That’s the most stupid thing I’ve ever heard in my life. Where’s the money going to come from? Is it going to rain out of clouds? Right.
Troy Kearns [00:07:24]:
So I think that’s the smartest thing I’ve heard someone say. You know, I probably have used that term myself, just because you know that you should, you should always find a good deal, and then you can always unload it as a wholesale deal. But you’re not going to be able to raise capital last minute. I totally agree with you there.
Jay Conner [00:07:40]:
Yeah, yeah. I mean, if you’re a wholesaler and you’ve got a list of buyers, you’ve already raised the money for that business model. You already know where the money’s coming from for that wholesaling business model. So if you want to stay in a deal, it’s the same thing. You get the money lined up first. I mean, if you are an Imarta wholesaler and they got good training, they were taught, build your buyer’s list first. Right. Common sense.
Jay Conner [00:08:11]:
Right back to the answer. First, we teach you to get the money lined up; there’s always going to be deals, always going to be deals. And then how do you get your deal funded without asking for money? How do you get your deal funded without pitching a deal? You know what, Troy, since February 2009, when I started using private money, I’ve never pitched a deal. Troy, I’m so excited. I want to share with you and your audience right now my exact script that I get my deal funded 100% of the time when I have a deal for funding. So, Troy, let’s do just a little hypothetical assuming and set this up. And people understand once I do this. So first of all, Troy, let’s assume that you and I have been friends for a while, and we know each other, and we’ve got the trust factor.
Jay Conner [00:09:07]:
Let’s assume we go to church just to really bring it home. All right? So we go to church together. We know each other. We’ve known each other a while, and we’re friends. Now, let’s also assume that I have, as your friend, I have taught you the private money opportunity. You know what interest rate I pay, which by the way, has been 8%, no points, no origination fees ever since 2009 through all these different market cycles. So you know the program, you know the frequency of payments, you know how I’m going to protect you. You know I’m going to name you as the mortgagee on the insurance policy and all those layers of protection.
Jay Conner [00:09:46]:
You already know all that stuff. No,w let’s also hypothetically assume that you told me in our conversation when I was exposing you to this. Let’s hypothetically assume that you worked for a previous employer and you still got a 401 (k) there with that employer, that plan administrator. Let’s assume it’s in the stock market, and you don’t like it, you don’t like the volatility of th, and you would really like, you know, set rates of return, like putting money in a CD in a local bank. Let’s also assume that I have introduced you to the self-directed IRA company that I recommend. And let’s assume you’ve moved that $150,000 over to the self-directed IRA company at my recommendation. And now you are waiting for me to call you because I told you I would put your money to work for you just as soon as possible. So that’s the setup.
Jay Conner [00:10:41]:
Here comes the phone call. I call this the good news phone call. Here’s the script. I call up, you answer the Phone. We have a little chit-chat, a nd here’s exactly what I say. Troy, I’ve got great news for you. I can now put your money to work. I’ve got a house under contract in Newport, North Carolina, with an after-repaired value of 200,000.
Jay Conner [00:11:06]:
Now the funding required for the deal is $150,000. That matches up to what you’ve got at the self-directed IRA company. Now the closing on this deal is going to be next Friday. You’ll need to have your funds wired to my real estate attorney’s trust account by next Thursday. I’m going to have my real estate attorney email you the wiring instructions. That’s the end of the conversation. The most stupid thing I could do is ask Troy. Do you want to fund the deal? Of course Troy wants to fund the deal for three big reasons why Troy wants to fund my deal.
Jay Conner [00:11:41]:
Number one, he trusted me to move his money over to the self-directed IRA company that he never even heard of until I taught him about it and exposed it to him. The second reason Troy wants to fund my deal is that he knows I’m not going to bring a deal for him to fund that doesn’t meet the criteria of the underwriting that I already taught him. Did you hear the numbers? I told Troy the after-repaired value was 100,200 thousand dollars. I also told him the funding required for the deal is 150,000. Well, that’s 75% of the after-repaired value. He already knows that criterion. Notice parenthetically, I did not say 75% of the purchase price. I said 75% of the after-repaired value.
Jay Conner [00:12:28]:
Troy knows I’m gonna bring home a big check at closing at purchase every time I buy. Who wants to get paid to buy houses? The third reason Troy wants to fund my deal is that he’s not making any money until I put his money to work. I promised him I would. So I’m ethically obligated to invest Troy’s money in my deals.
Troy Kearns [00:12:53]:
Jay, you’re smooth. I mean, I’m just going to say it like that. I mean, you are very, very smooth. I feel like you’re almost like a preacher slash businessman. I mean, you just had a really, really good delivery now, before 2009, and you started to do this. What got you into this game? Because you’re you. Well, what I just heard there, and I know most people probably won’t know, but you did the assumptive close. You didn’t say, hey, you know the ABC? Do you want to give me X or Y?
Troy Kearns [00:13:22]:
He said, Let’s get it to work. So I think that you, you, the other thing that you might be leaving out is you got to be smooth because you, you basically directed them, you gave them what they needed to do. But by the way, which IRA company, self-directed IRA company, do you like?
Jay Conner [00:13:40]:
Yeah, currently, and I have been for seven years now, I use Inspira. Inspira recently acquired the assets of Quest Trust, and I was with them for many years. I’ve had the same rep. Colin has been taking care of my deals. In fact, he speaks at all of my live events. But I get my deals funded in seven days from the time the paperwork starts using Inspira.
Troy Kearns [00:14:07]:
Got it. And what did you do before investing in real estate? Because I mean, I would guess that you were a preacher. I mean, just the way you talk.
Jay Conner [00:14:18]:
Like he’s smooth. Well, I do go to church three times a week, and I have been known to fill in the pulpit every now and then. But anyway, you’re natural. So,o from 200,3 when I started investing in single-family houses. Now, by the way, private money is for all assets of real estate. Single-family houses, apartments, self-storage, land, and commercial buildings. It all just comes down to how you structure the deal. Now, all the deals that I do with single-family houses, the SEC does not regulate what we do in this world of private money.
Jay Conner [00:14:57]:
And here’s why. I’m not raising money for a fund. If you’re going to raise money for a fund, then that’s not asset-backed debt. That’s where the SEC comes in and regulates what you can do, who you can borrow from, who you can’t borrow from, and all that kind of stuff. But in this world of single-family houses, everything we do is called a one-off. What’s a one-off? A one-off means use. You have a single-family house, which could be a duplex, triplex, or quadplex. But it’s one property that is being funded by a private lender, maybe two or three private lenders.
Jay Conner [00:15:33]:
They have their own promissory note, they have their own deed of trust or mortgage collateralized on that note. So it’s an asset-backed debt. Therefore SEC is not involved. But back to your question. How did I get into this world? Yeah, private money. Well, I started in 2003, and as you know, I went to the local bank. Hey,y look, Troy, I never even heard of hard money until 2009. And I’m not talking hard money, right, I’m talking individuals here.
Jay Conner [00:16:01]:
But I never heard of hard Money brokers. So for the fixed first six years, Troy, the only thing I knew to do was go to the local bank or mortgage company, get on my hands and knees, say, please, fund my deal, fill out applications, have my credit score pulled, pull up my skirt for the banker to look at all my personal assets and abide by their rules. You know, I had to play by their rules. That’s all I knew to do, Troy, for six years, until January 2009. And, Troy, everything changed. Everything changed. In January 2009. I was sitting right here at this desk.
Jay Conner [00:16:38]:
I called up my banker. His name was Steve. Steve had funded a ton of deals for me for those first six years. And I called up Steve. I told him about two houses that I had under contract that I wanted him to fund loan money on. And I’m telling you, Troy, I learned that my line of credit had been shut down. Had been shut down. I said, Steve, what in the world are you telling me? My line of credit’s been closed? We’ve had a great relationship for six years.
Jay Conner [00:17:07]:
Steve said, Jay, don’t you know there’s a global financial crisis going on right now? I said no, but you just gave me a financial crisis. I don’t have a way to fund my deal. Steve said, Sorry, we’re not loaning money out to real estate investors. Well, Troy, I sat here at this very desk for a moment after hanging up the phone with my banker, where I no longer had a line of credit, thinking about those two deals I got under contract. And I thought to myself, Troy, I want to share with you and your audience a very powerful question that I ask myself. And you know the power in asking the right questions. By the way, this question I’m going to share with you and your audience will help fix any problem that anybody’s got going on. I don’t care if it’s a relationship, health, business, career, or financial.
Jay Conner [00:17:54]:
I don’t care. And by the way, these people running around saying, every problem’s an opportunity. I want to throw up. I didn’t have an opportunity. I had a problem. Let’s face the facts now, this problem did become an opportunity, but without this problem, you and I wouldn’t be on your show today. But here’s the. Here’s the question I asked myself right after getting cut off from the bank.
Jay Conner [00:18:15]:
I said, Jay, who? You know, the powers in who, not how. I said, Who do you know that can help fix your problem? And you know what’s funny? I asked myself that question, and immediately I thought of Jeff Blankenship. Jeff was a dear friend, still is. He was living in Greensboro, North Carolina, at the time, investing in single-family houses. And I called up Jeff. I told him what had happened. He said, Well, welcome to the club, Jay. I said, What club is that? He said, It’s the club of having the bank shut down your line of credit.
Jay Conner [00:18:47]:
My bank shut me down last week. I said, Well, Jeff, how are you going to fund your real estate deals? He said, Well, have you ever heard of private money? I said, No. He said, Have you ever heard of self-directed IRAs and how individuals can loan money to us real estate investors and get either tax-deferred or tax-free interest from the interest that we pay them? I said, Jeff, I don’t have a clue what you’re talking about. I said, What is private money? He said, Well, I’m not exactly sure, but there’s this gentleman down in Jacksonville, Florida, by the name of Ron Legrand who can tell us about private money. I said, Well, okay, that’s interesting, but what is private money? Jeff said, Jay, I don’t know, but Ron says we can get a lot of it really, really fast. So I went to my very first real estate investing conference down in Florida to learn about private money. And Troy, I learned this whole mindset of no asking, begging, selling, you know, persuading, talking anybody into anything, but putting your program together that you’re going to offer. You know, I came back home, Troy.
Jay Conner [00:19:57]:
I put my program together as to what I was going to teach and share. I was able to raise over $2 million in less than 90 days of new funding that I didn’t have prior to this world of private money. That was all through my own connections. And you know what’s interesting? None of them had ever heard of private money until I taught them about it. And because of that problem, I. Our business tripled. Tripled in 2009. Here’s why.
Jay Conner [00:20:28]:
You may recall. Barely. You’re hardly old enough to remember. But anyway, you may recall back in 2009, all these foreclosures.
Troy Kearns [00:20:38]:
I was in the middle of it.
Jay Conner [00:20:41]:
All these foreclosures that were hitting the market, a nd the banks weren’t loaning money. Well, let’s think about that. Lots of foreclosures. Banks aren’t loaning money. You had to have all the cash to buy those foreclosures for sure. So my business tripled because I had all this private money and all these foreclosures to choose from. So our business tripled that first year because of having access to Private money and the funding.
Troy Kearns [00:21:12]:
I actually loved that time. That was probably the most fun that I’ve ever had in my entire life was during the foreclosure crisis. In fact, I wanted it so bad again that I stayed in real estate, selling real estate for another 10 years because of it, because I thought the. The market was going to collapse again. For those of you who aren’t around back when, what Jay was referring to, I mean, he’s not lying.
Troy Kearns [00:21:35]:
It can happen. And for those people who went through it, like everybody’s, if you had an American Express card, they shut down your funding. If you had a bank loan, banks were. There was like a. There was a bunch of websites that were keeping track of all the banks that were going out of business. And if you had cash or knew how to get cash, I mean, you were very rare, number one. And number two, you made a ton of money. Because that’s what started me in my career as well.
Troy Kearns [00:22:02]:
It’s like I sold 2200 homes in those five years that were foreclosures. And those foreclosures made a lot of people money because the banks were taking whatever they could get for them then. Jay, for someone new, and as you know, it’s pretty scary. You’re pretty smooth, Jay. And it’s pretty scary for people who are worried about saying rejection. A lot of them won’t even pick up the phone to call anybody, as you probably have learned over time. What if, what are the steps that you could teach people for that are. That’s uncomfortable, Jay.
Troy Kearns [00:22:32]:
That’s like, they’re worried about the fear of rejection. You made it sound so eloquent. And they’re worried about forms, and they’re worried about being named as a secondary beneficiary on the insurance policy. How do they get? How do they get that information? Are you able to help them with that?
Jay Conner [00:22:47]:
There’s a direct correlation between the lack of confidence and fear. Lack of confidence and fear. I don’t know which comes first. They’re sort of closely related, right? So when someone can fix. Can fix the level of confidence to where you can talk with surety. And come across truly from your heart that you know what you’re talking about, then how do you get that? It begins with knowledge. It begins with knowledge, but it even begins before knowledge. Why are you in this business? Why do you want to be in this business? If you’ve got the mindset that this business is all about you or this business is all about me, then we’re starting at the wrong point.
Jay Conner [00:23:38]:
What I’ve discovered in this business, Troy, as to whether I’m talking with a family that’s facing foreclosure or if I’m talking with a new potential private lender, it’s all about them. It’s all about me serving them and bringing them a solution to their problem. All 47 lenders, my private lenders, had a problem. They were not happy with the stupid returns, they the getting at the local bank. Right. So I came along with a way to fix that problem for them. So how do we up the confidence level? Knowledge. How do you get the knowledge? Well, hey, look, you know, you’ve been hearing me talk about teaching people this opportunity and having my teacher hat on.
Jay Conner [00:24:23]:
Well, you’ve got to know what you’re going to teach, right? Like what in the world are you going to teach? Well, here’s how I can serve your listeners to your show, Troy, and that is inside my book, which is titled Where to Get the Money Now, and the subtitle is how and where to get money for your real estate deals without ever relying on hard money lenders or institutional lenders. Inside this book, I have got, in one chapter in this book, I’ve got the exact program for you to teach. I mean, just duplicate what I teach because it seems to work pretty well. But I’ve got the program in the book. I’ve got all kinds of strategies in the book on where to get the money now, such as private lender luncheons, how to put on a luncheon, and where to? I mean, my very first private lender luncheon, Troy. I raised $969,000 with no deals attached whatsoever. They gave me a verbal pledge. Well, what did I do? I bought them lunch.
Jay Conner [00:25:24]:
I invited 20 people from my own connections. I bought them lunch. I did my little 20-minute PowerPoint presentation, which teaches the program. And then, you know, I met with them on one that was interested. Afterwards, they told me what I had, you know, what they had to work with and fund the deals. Anyway, the book is 20 bucks at Amazon. Don’t go to Amazon. Let me give you the book for free.
Jay Conner [00:25:48]:
If you’ll just cover shipping, I’ll autograph the book, and I’ll three day express. You can pick up my book to get the money now at www.JayConner.com/Book. Again, I’m an er, not an o r. That’s www.JayConner.com/Book. I’ll rush it right out to you, Jay.
Troy Kearns [00:26:13]:
You are a smooth operator. I’ll tell you what, I feel like you should be speaking next to Tony Robbins. You’re very like, from the minute we hit the word go on the podcast, you’ve transformed. I mean, I mean this in the utmost respect. I don’t mean this as you are a showman, like, and I, and I, and a teacher, and you, you come across as so authentic, it’s hard not to like you. I can see why it’s not, it’s, it’s not a problem for you to raise capital. So for people who maybe need to work on their personality, I’m sure you’ve done a lot of self-help books just by watching your inflection, your tonality, how you call me by the first name. Right away, I’m like, this guy is a student of the game.
Troy Kearns [00:26:53]:
So, now you’re sharing that knowledge with other people through this book. What, what, besides your book, what other tools have helped you out along the way?
Jay Conner [00:27:03]:
What other tools as far for raising private money?
Troy Kearns [00:27:07]:
Well, I just actually, I mean, more, something more personal than that, with the way that you use my name so much. I’m very aware of that. And, and, and I’m like, this guy’s smooth. Like, it’s the Dale Carnegie, How to Win Friends in Influence. It’s the the name is the most powerful thing that you can use. And if you guys are paying attention, he’s probably dropped my name 100 times. And I do the same thing. And so, so game recognizes game is what I’ll say.
Troy Kearns [00:27:31]:
And I’m like, Jay is smooth. And so he’s a, he’s a, he’s a guy who studies, practices, and preaches, which you don’t see often. Usually, what you have is you have somebody who gets up on there, knows no idea what they’re talking about, and doesn’t know how to articulate what they’re saying. And I’m very glad. A lot of times, I’ll do a podcast and I’m sitting there drowning out, just like going in my La La Land. And when I’m watching you speak, I’m like, this guy is eloquent, he’s masterful. And you, it’s one of those things where, you know, you’ve, you’ve passed the teacher, so to speak, with. When you went to Ron the Grand, because I think you’re more engaging than he is.
Jay Conner [00:28:08]:
Yeah, I have. I have been to quite a few of Ron’s events. And yeah, Ron and I sort of like yin and yang. Right. It’s like the per. The personalities. The personalities are very different. But I will tell you, Ron LeGrand is one of the most brilliant individuals I’ve ever met in my life. Well, I thank you for the compliment.
Jay Conner [00:28:33]:
Dale Carnegie. Yes. Rule number six in Dale Carnegie’s list of human relations principles is that remembering a person’s name is the sweetest sound to them in any language. Rule number six from Dale Carnegie’s How to Win Friends. I went to Dale Carnegie’s human relations course when I was 24 years old. And yeah, that was a game-changer right there. So I’ll share this. You said that I’m authentic, and I appreciate that.
Jay Conner [00:29:06]:
Thank you. I’ll share with you and your audience. When I. When I was 23 years old, and the first half of my 24 years old, I was in a very, very dark place. Alcohol, drugs, no friends, working in the restaurant industry 80 hours a week, no life, no church, no God. I mean, it was a pot, weed. I mean, it was. It was a very dark place.
Jay Conner [00:29:36]:
And thank goodness I woke up one morning and I said, you know, okay, there’s got to be a better way. And so I found myself in the self-help book section in the bookstore. And I’d never been in the self-help section, but I knew I needed some help. And it didn’t need to be self because self was not getting it done anyway, so I came across this book and Troy, this book changed my outlook on life. It changed my trajectory, it changed the way I looked at life. And here’s the book. Thank goodness it’s still in print. And the name of the book is University of Success by OG Mandino.
Troy Kearns [00:30:21]:
I love Augmentino. I did not hear of that book. I know about the Greatest Salesman.
Jay Conner [00:30:26]:
Yeah. And so what OG did is he. He brought together a collection of many, many different authors in the self-improvement world. And he put together semesters in the book and, you know, different lessons. You got so many lessons in different semesters’ books about that thick. And so in the book, you get exposed to so many thought creators of how you should be thinking about life and how you should be going about life, you know, to begin with. And so I read the book. I still have that book at the end of my leather sofa in the sunroom, where I live when I’m not working.
Jay Conner [00:31:15]:
And I mean, it’s underlined and the pages are bent down, and it’s highlighted and all this stuff. But yeah, I don’t know who is credited with this quote, but I love this quote. And the quote is, your destiny is determined by the books you read and the people you meet. And so how in the world have I been so blessed to grow in this, in this world of real estate investing and mindset and et cetera. And that is the masterminds, the mastermind groups that I have been so active in for so many years. And the relationships and the knowledge and the opportunities and the doors that have been opened by me being in a group of like-minded people. You know, Napoleon Hill, in his book Think and Grow Rich, talked about the mastermind in one of his chapters.
Troy Kearns [00:32:14]:
Yes.
Jay Conner [00:32:14]:
And I just can’t endorse enough. The reason I’m thinking of mastermind groups is because of that quote, the books you read, and the people you meet, or where are you going to meet the people? Really high-quality mastermind groups. One of the best places to meet like-minded people. Like you, Jay.
Troy Kearns [00:32:36]:
How do people learn more about you? How do they get hold of you? You said you have a YouTube channel. Can you break that down for everybody as well?
Jay Conner [00:32:44]:
Sure. So you can go to YouTube and search for Jay Connor, the Private Money Authority. But if they really want to interact with me, and get some more juice twice a week, Monday mornings and Thursday mornings, then come on over and hang out with me like you’re hanging out with Troy here on his show. Come over to my podcast. And the name of my podcast is Raising Private Money with Jay Connor. I’m now in my eighth year. We have almost 800 episodes that are all there, and that’s old, across all the podcast platforms.
Troy Kearns [00:33:23]:
You’re the Joe Rogan Private Money.
Jay Conner [00:33:25]:
Say what?
Troy Kearns [00:33:26]:
You’re the Joe Rogan of private Money.
Jay Conner [00:33:28]:
I would, I would like to think so. I would like to think so. Yes. But I’m always interviewing other real estate investors who have already raised private money, and I interview them on how they go about raising their private money.
Troy Kearns [00:33:42]:
Jay, I really appreciate you coming on the show. I would like to extend an invitation for you to come speak at one of our masterminds that we have coming up. You mentioned the word I. I’m sorry, I was running late at the beginning of this thing. You’ve been an exquisite guest. I would I wish I had planned more time. Would you be willing to come back on another podcast to take a deeper dive? I’d like to know more about your personal story. We have some things in common, alcohol, drugs, things like that that we both have in common.
Troy Kearns [00:34:06]:
I think it’s. I think your story is inspirational. I think we’ve just scratched the surface of it, and I think that you’re a type of guy that I’d like to surround myself with if you’d be so generous with your time, Troy I.
Jay Conner [00:34:16]:
Would be honored and blessed. Thank you so much. Yes.
Troy Kearns [00:34:20]:
Guys, make sure that you follow what Jay Connor is talking about. I’m telling you, he has got a to. I talked to a lot of guys who are BS artists. I talk to people all over the country. This guy is genuine. He’s continuing to reinvent himself. I didn’t ask him how old he was, but based on the fact that we both have been in the career for a while and that he’s on a podcast and I’m on a podcast, that means he is adapting and changing and learning, and this is somebody that you want to pay attention to. Make sure you hit the subscribe button.
Troy Kearns [00:34:48]:
Make sure you give Jay a five-star review. Jay, I appreciate you coming on the show.
Jay Conner [00:34:52]:
Thank you so much, Troy. God bless you.
Narrator [00:34:56]:
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.