***Guest Appearance
Credits to:
https://www.youtube.com/@lightspeedinvestingpodcast
“Podcast Ep 88: Raising Millions Without Banks- Private Money Secrets with Jay Conner”
https://www.youtube.com/watch?v=Co6x-JhgtuE
Building a successful real estate investing business often comes down to one key ingredient: funding. For many, the journey starts with traditional lenders—your local banks and mortgage companies. But what happens when those funding sources abruptly dry up? For Jay Conner, that moment marked a turning point, sparking a radical and highly profitable evolution in his investing strategy—one that anyone aspiring to real estate success can learn from.
From Banking Crisis to Private Money Breakthrough
As Jay Conner recounted to Philip Chan in a recent episode of the Lightspeed Investing Podcast, his real estate journey began conventionally. He and his wife, Carol Joy, started investing in single-family homes in Eastern North Carolina back in 2003, funding projects through local banks. For six years, it worked—until, abruptly, in January 2009, the bank called and shut down his line of credit.
“I learned like that over the telephone that my line of credit had been closed with no notice to me whatsoever,” Jay Conner recalled. With two houses under contract and no funding, panic could easily have taken over. Instead, Jay asked himself a crucial question: “Who do I know that could help me fix my problem?”
It was this pivot—from “how” and “what” to “who”—that led Jay Conner to private money, through a conversation with another investor, Jeff Blankenship. That conversation, and following exposure to private money at his first real estate investing conference, changed his business forever. Within 90 days, Jay Conner had raised $2,150,000 in new private funding—more money than he ever had from the banks.
The Power of Private Money: Simpler, Safer, Scalable
What is private money, and why is it such a game-changer? In Jay Conner’s words, it’s “getting funding from just ordinary people … using their investment capital or their retirement funds.” He calls it ‘lazy money’—money that’s not working hard in CDs or low-yield savings, but instead can earn much higher, safer returns through real estate-backed loans.
Jay Conner offers his private lenders 8% annual returns—vastly superior to what most are earning at the bank, and, crucially, fully secured by first or second position liens on the property. That means the lender is protected by the real estate asset itself; if Jay fails to pay, the lender can foreclose. In addition, Jay won’t borrow more than 75% of the after-repair value of the property, ensuring a robust safety cushion for his lenders.
While this approach might sound complex, Jay emphasizes its simplicity. He doesn’t raise funds for a big, pooled investment fund, avoiding the need for complex legal structures. Instead, each lender’s loan is secured by a note and a deed of trust (like a mortgage), tied to a specific property. This transparency builds trust.
The Blueprint for Replicable Success
What’s most impressive about Jay’s method is its replicability—even if your market is small. “Our total target market is only 40,000 people, and we do two to three deals a month. Average profits are $86,000,” Jay Conner shares. You don’t need to swim in a huge pond; dominate a small market, and you can thrive.
Another key takeaway: momentum with private lenders grows. Jay now has 47 private lenders on his roster—and none of them had even heard of private lending before he taught them about it. He continues to source funds simply by educating those in his network about private lending’s opportunities and safety nets, then matching deals to those who have already expressed interest. “The money comes first,” Jay Conner stresses.
Final Words: Lead With Education and Simplicity
For aspiring investors, Jay Conner suggests finding mentors and masterminds—surrounding yourself with successful people already doing what you want to do. If you want to profit in real estate without dealing with the headaches of traditional financing, private money might just be your missing link.
For more on Jay’s strategies, he offers a free copy of his book, Where to Get the Money Now, at www.JayConner.com/Book.
10 Discussion Questions from this Episode:
- The guest mentions a pivotal moment when his line of credit was unexpectedly cut off by his banker. How do you think unexpected setbacks can lead to breakthroughs in business or personal growth?
- Throughout the episode, the guest emphasizes the importance of asking the right questions, specifically “who?” instead of “how?” or “what?”. How do you think this approach can change problem-solving strategies in entrepreneurship?
- The concept of “private money” for real estate deals is discussed. What are the main advantages outlined compared to traditional funding through banks?
- The episode covers a strategy of educating potential private lenders rather than pitching specific deals. What are the benefits and potential pitfalls of this approach?
- There’s a question about risks for private lenders. How are these risks mitigated, and what security measures are put in place for lenders?
- In the conversation, the phrase “I’d rather be a big fish in a small pond” comes up. How might this philosophy apply to other industries or markets outside real estate?
- The importance of building relationships and leveraging social circles in raising private money is highlighted. How critical are personal networks in entrepreneurial success?
- The topic of mastermind groups and mentorship is discussed. What role do these communities play in accelerating learning and growth for real estate investors?
- Advice is given on “teaching the opportunity first” without overwhelming potential investors with details. How can entrepreneurs apply the idea of “keep it simple” when communicating new concepts?
- The guest is motivated by helping others take control of their funding and destiny. What do you think drives someone to pay it forward after achieving their own success, and how does that shape an industry?
Fun facts that were revealed in the episode:
- Jay Conner was able to raise over $2 million in new private money funding within just 90 days after being cut off from his local bank—without ever asking anyone directly for money, begging, or selling.
- Jay Conner dominates a surprisingly small market for real estate investing: he focuses on just two counties in North Carolina with a combined population of only 100,000 people—proving you don’t need a big city to achieve big profits.
- The private lenders working with Jay Conner often never heard of private lending until he introduced them to the concept, and he currently works with 47 private lenders who are mostly regular, everyday people—not wealthy or sophisticated investors.
Timestamps:
00:01 Private Money for Real Estate
03:37 Big Fish, Small Pond Strategy
07:17 Discovering Private Money Solutions
12:47 Creative Property Sales Strategies
14:14 Home Sale Timeline: Nine Months
18:44 Empowering Investors Through Funding Freedom
21:22 Raise Money Before Pitching Deals
25:51 Success: Find Mentors and Community
27:54 Free Private Money Guide
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
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https://www.facebook.com/jay.conner.marketing
Twitter:
https://twitter.com/JayConner01
Pinterest:
https://www.pinterest.com/JConner_PrivateMoneyAuthority
Transform Your Business: The Power of Asset-Backed Private Money for Real Estate Growth
Jay Conner [00:00:00]:
And, Philip, I asked myself a very, very important question. In fact, the answer to this question will help fix any problem that anybody’s got going on in their life. I don’t care if it’s financial, real estate, career, or relationships; it doesn’t matter. And by the way, these people are running around saying, Oh, 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.
Jay Conner [00:00:27]:
The problem did become an opportunity over time. If it hadn’t been for this problem, you and I wouldn’t be here together today on your show talking about private money. So here’s the question that I asked myself after being cut off from the bank. I said to myself, I said Jay, I said, Who? You see, it’s not what or how, it’s who. I said, Who do you know, Jay? Who do I know that could help me fix my problem?
Narrator [00:00:58]:
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 Connor.
Philip Chan [00:01:26]:
Welcome to another episode of the Lightspeed Investing Podcast. I’ve got Jay Connor, a real estate investor who’s very seasoned and has been around the block, but his most interesting thing is his journey that got him involved with private money. So he’s got a lot of wisdom, and I’m excited to have him on to share his journey with us and to teach us some things about real estate. How are you doing, Jay?
Jay Conner [00:01:54]:
Philip, I’m doing fantastic, and thank you so much for inviting me to come along and talk about my favorite subject that I’m so passionate about, and that’s private money. Getting deals. Getting your real estate deals funded with private money. You know, the reason I’m so excited about it, Philip, is because this one strategy, this one technique of funding my real estate deals with private monies had more of an impact on our real estate investing business ever since we started in 2003.
Philip Chan [00:02:26]:
I love it. I love it. That’s why I’m excited to have you on and dive into it. But before we do, right, there were a. There was a specific moment in your life where certain frustrations boiled up when you were interacting with your own bankers. Right. And that’s kind of what led you to look into private money a bit further. You want to share that journey a little bit and share with the audience what happened exactly, you know, to cause you to be so motivated?
Jay Conner [00:02:53]:
Sure. Well, you know, I did, and woke up one morning and said, Heyy, I think I’ll go raise me some private money for my real estate deals. You know, when everything’s going along smoothly and you’re on the top of the mountain, sometimes you just don’t look for other solutions or, you know, ways to do business. But growth takes place down in the valley, where things are not going so well. So we started investing. My wife Carol Joy and I started investing in single-family houses all the way back in 2003 here in Eastern North Carolina. Our total target market is only 40,000 people, and we do two to three deals a month. Average profits are 86,000.
Jay Conner [00:03:34]:
I don’t share that to brag. I share that to make a point.
Philip Chan [00:03:37]:
And.
Jay Conner [00:03:37]:
And that is there’s a case to be made to, like, be a dominating force in a small market. I’d rather be a big fish in a small pond. So we started investing in single-family houses way back in 2003. And, Philip, from 2003 until January of 2009, those first six years, the only thing I knew to do to get my deals funded was go to the local bank or the mortgage company, get on my hands and knees, and say, Please fund my deal and fill out applications. And, you know, the banker would make me pull up my skirt and show all my personal assets and pull my credit score. And I had to provide financial statements. Well, that plan for funding my real estate deals worked out okay, so to speak, for those first six years. But then everything changed.
Jay Conner [00:04:31]:
And in January of 2009, and here’s what happened, Philip. I was sitting right here at my desk, and I had two houses under contract to get funded. And I thought I still had a line of credit with the local bank. And so I called up my banker. His name was Steve. I told him about these two deals that I had on a contract that needed funding. And I learned like that over the telephone that my line of credit had been closed with no notice to me whatsoever. And I said to Steve, My banker said, Steve, what in the world are you doing, telling me my line of credit is closed? I’ve been on time with my payments for six years.
Jay Conner [00:05:12]:
You funded a ton of deals. I got a great credit score. Why are you closing my line of credit? And Steve said, Jayy, don’t you know there’s a global financial crisis going on right now? And I said, God, no. But you just gave me a financial crisis. I don’t have a way to fund these two deals, right? And Steve says, Sorry, not loaning money out to real estate investors. So I hung the phone down on the receiver, and I sat here for a moment, and Philip, I asked ourselves a very, very important question. In fact, the answer to this question will help fix any problem that anybody’s got going on in their life. I don’t care if it’s financial, real estate, career, or relationships; it doesn’t matter.
Jay Conner [00:06:00]:
And by the way, these people running around saying, Oh, 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. The problem did become an opportunity over time. If I hadn’t been for this problem, you and I wouldn’t be here together today on your show talking about private money. So here’s the question that I asked myself after being cut off from the bank. I said to myself, I said Jay, I said, Who? You see, it’s not what or how, it’s who.
Jay Conner [00:06:31]:
I said, Who do you know, Jay? Who do I know that could help me fix my problem? And interestingly enough, when I asked myself that question, you know, the powers in asking the right questions. You can’t get the right answers without the right questions. I immediately thought of Jeff Blankenship. Well, who in the world is Jeff Blankenship? Well, Jeff’s a dear friend of mine and Carol Joy’s. We know him through a capella singing groups and gospel events, and church, and all that. He was living in Greensboro, North Carolina, at the time, and he was investing in single-family houses. So I called up Jeff, and I told him what had just happened. And my conversation that I had with my banker, Jeff, said, Well, Jay, welcome to the club.
Jay Conner [00:07:17]:
I said, I’m not sure I want to be a member of that club, but what club are you talking about? He said, Well, that’s the club of being shut off from your bank and your bank shutting you down. He said, My bank shut me down and stopped loaning me money on my real estate deals 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 IRA companies and how individuals can take their current retirement funds that they’re not happy with and transfer them over to a self-directed IRA company with no tax penalty, and then they can loan that money out to us real estate investors, and the interest we pay them is tax deferred or tax free to them. I said, Jeff, you’re talking Greek to me. I don’t have a clue what you’re talking about. I said, What’s private money? He said, Well, there’s this gentleman down in Jacksonville, Florida, by the name of Ron LeGrand. I said, Who’s Ron LeGrand? He said, Well, I don’t know much about him, but, you know, he says he can teach us about private money.
Jay Conner [00:08:19]:
I said, Well, what is it? 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 six years after being in this business. Don’t make that mistake if you’re listening to this show. And I went to learn about private money. Oh, boy, did I learn about private money. I came back home to my hometown here, and I was able to raise $2,150,000 in new funding, new private money funding that I didn’t have before being cut off from the bank. So I actually had more funding available than before, you know, when the bank cut me off.
Jay Conner [00:08:59]:
And you know what’s interesting, Philip? I’ve yet to ask anybody for money. No chasing, no begging, no selling, no persuading. Because this world of private money is getting funding from just ordinary people. I call this lazy money. This is not looking for rich people or sophisticated accredited investors. This is getting money funding from just regular, ordinary people using their investment capital or their retirement funds. So I’ve got 47 private lenders right now funding our deals. And you know what’s interesting? Not one of those private lenders ever heard of private money or private lending until I put on my hat, right? My teacher had said Private money teacher.
Jay Conner [00:09:45]:
So I just went about in my own social circle, my connections, people I go to church with, and I started talking with them and exposing them to this world of opportunity of private money that they had never heard about. And in less than 90 days, over $2 million was pledged, wanting to invest in my deals in a way that they had never heard about. And since that time, Philip, I’ve never missed out on a deal for not having the funding.
Philip Chan [00:10:16]:
I love it. I love it. Now, let’s get some clarity here, right? You said the real estate investing that you mainly do is single-family residential homes, right? So do you. Do you know what? What is the modality at which you invest? Are you putting money down so that you can rehab and fix them? Right. And enhance the value of the home? What is the strategy here? And that makes it so robust. Because obviously, for people to trust you with their private money, you have to have a pretty good offer, right? That shows them. Here is the path to getting your money back and some more.
Jay Conner [00:10:52]:
That’s right. Well, and that’s a great question, and it’s a multifaceted answer. So first of all, I’m paying them 8%. I’ve been paying my private lenders 8% ever since February of 2009. So all these people, they’re used to just getting, you know, 1%, 2%, 3% or whatever in the local bank in a certificate or deposit. 8% is a whole lot more money. So right off the bat, they’re interested because of the interest rate that’s being offered.
Philip Chan [00:11:21]:
And this is, this is on an annual basis, the 8% APR.
Jay Conner [00:11:25]:
APR, yes, annual percentage rate. Yeah. But then secondly, you see is how we secure and protect the private lender is very important. So we’re not borrowing unsecured funds. This is all asset-backed debt. So this is. So I’m not raising money for a fund right to where I’d have to have an SEC attorney and a private placement memorandum. This is all called asset-backed debt, which means every private lender has their own promissory note, a nd that promissory note is collateralized or secured by a deed of trust.
Jay Conner [00:12:00]:
Here in North Carolina, most people call it a mortgage. So that protects them in case I don’t pay them. If I don’t pay them, they get the property. Now, another thing that they get all excited about is that it’s a very secure and safe investment because I’m not going to borrow more than 75% of the after-repair value. Now I didn’t say 75% of the purchase price. They fund the entire purchase, and the private lender funds the entire rehab, the renovation up front. That’s why I bring home a big check every time I buy without having to take any of my own money to the closing table. So then we renovate the property,y and then we cash it out.
Jay Conner [00:12:47]:
We sell it right now. We can sell it in more than one way. We can put it in the multiple listing service. We do high-end renovations that look like beautiful homes, and they sell quickly on the multiple listing service. Or if I’m just doing a light rehab and it doesn’t need that much to it, I can also sell it creatively to an owner-to-owner buyer or a lease-purchase buyer, which means they can’t go to the local bank and get a mortgage. And the reason that works today is because 8% APR is less than what the commercial rates are at the local bank. Right now in today’s market, the average commercial rate for a 30-year fixed mortgage on a commercial piece of property, say if you’re going to landlord, it’s is 8.3%. So 8% is even less than that.
Jay Conner [00:13:39]:
I can get a positive cash flow, rent out the home, help the buyer get ready for a mortgage, and then they get a mortgage and cash me and the private lender out. So we have multiple exit strategies.
Philip Chan [00:13:52]:
Gotcha. I love it. I love it. Now, in terms of your typical time frame at which you are holding onto these properties, right, because it sounds like you, you do the rehab route, but it depends on how much renovation we’re talking about. So I’m kind of curious, once you get into a property, right, what is that timeframe before you turn it around?
Jay Conner [00:14:14]:
Sure. So if I’m putting it in the multiple listing service to sell it, and I’ve done an absolutely beautiful transformation of that home from start to cash out is going to average nine months. And here’s why it even takes that long. Here’s why it even takes that long because I’ve got so many projects going simultaneously. I might have a house sit there for 90 days after I purchase it, before one of my contractors even gets there to do the renovation. And then a 50 or $60,000 renovation might take 90 days. So now we’re six months into it, and then we stage it, we get professional photography and drone footage, and all that. So maybe another 30 days, ggoby, then we list it with a realtor, and if it gets under contract quickly, then it might take another 45 days to cash out.
Jay Conner [00:15:03]:
So from start to finish, nine months on a full rehab, on selling to a lease purchase or rent to own buyer, then that’s going to average somewhere around 18 months because it’s going to take us anywhere from six months to 12 months to repair their credit to where they could get ready for the mortgage.
Philip Chan [00:15:24]:
Gotcha. Understood. Now, when you get this private money, private lenders come in to help you secure the deal on these homes. How, how do you categorize them so that when you take that capital, right? Are you allocating all of that capital onto one property, or is it similar to a fund structure where you’re like, I got two investors going in on this one house? Right. So that you make sure that the finances don’t get mingled?
Jay Conner [00:15:55]:
Yeah, that’s a great question. So I can have more than one private lender secured by the same Property. But let’s say I’ve got for easy to figure out the math. Let’s say I got a $200,000 after-repair value house. I’m not going to borrow more than 150,000. Right. That’s the after-repaired value. Let’s say I buy it for $100,000 because it’s distressed.
Jay Conner [00:16:20]:
Right. So I might get one private lender to fund $100,000 for the purchase. I might get another private lender to fund $50,000 for the renovation. So now we have what’s called total loan-to-value. We got 100,000 from one private lender, 50,000 in second position from another private lender. They each have their own promissory note. They each have their own mortgage secured by that same property.
Philip Chan [00:16:47]:
Gotcha. It’s just, it’s pro. It would probably be commensurate with that ratio. Right. One would have, you know, double the other person because they put up double the DM money.
Jay Conner [00:16:58]:
I’m not quite sure I followed double.
Philip Chan [00:17:00]:
Well, the guy, the guy, the guy in the first position, he put up 100k. Right. The guy in the second position, he. He covered 50k for the renovations. So the guy in the first position put up double what the second guy did. So does that mean that he would get double? Right. In terms of the ROI? That’s my question.
Jay Conner [00:17:17]:
Okay, well, the one in first position is going to get 8%. The one in second position is going to get 10% APR because it’s a little bit higher risk in the second position than in the first position. Right. So if both of them were getting 8%, then yes, the one in first position would make twice the amount of money.
Philip Chan [00:17:38]:
Gotcha. And is this way of operating mainly in North Carolina? North Carolina, right, you said.
Jay Conner [00:17:46]:
Yeah, I’m in North Carolina.
Philip Chan [00:17:48]:
So you mentioned at the very beginning. Right. To be a big fish in a small pond, so you can dominate the market. Are you mainly, you know, since 2003, dominating the North Carolina market?
Jay Conner [00:18:02]:
No, no, no. I’m dominating two counties, which have only 100,000 people. Right. So I’m dominating only a populated area of 100,000 people. And that’s why we’re able to do two to three deals a month consistently that are very, very high profit deals.
Philip Chan [00:18:24]:
Oh, okay, great. So tell me about your vision. Right. Because you’re still doing this, but it seems to me like you’ve got a lot of masterminds going on. So, in terms of your continued endeavors within real estate. Right. How. What are your next projects?
Jay Conner [00:18:44]:
Well, my vision is to impact and help as many other real estate investors as possible be in control of their own destiny by being in control of their own funding and not succumbing to the rules of institutional money. And here’s what I mean by that. Most people walking around, 99.9% or more people walking around, have this belief that whoever’s loaning the money is the underwriter, that whoever loans the money sets the terms, that whoever loans the money makes the rules. And I have, me and all the thousands of people that I’ve been, that I’ve trained this to across the nation, we’ve turned the tables on that stinking thinking. So instead of applying for a mortgage, we’re offering an opportunity, right? We don’t pitch deals, we don’t try to sell deals. What we do is we leave with a servant’s heart, and we expose this opportunity to people in our own networks. How can they make money, with high rates of return, safely and securely, in a way they have never heard about? And then once they’re all excited about it, then we come back to them with a deal and deals for them to fund.
Jay Conner [00:19:59]:
We don’t have to pitch the deals because we don’t bring any deals that don’t fit the criteria of what we already taught them, as far as what they’re going to be funding. So there’s no pitching of deals. All we’re doing is delivering on our promise of putting their investment capital, and/or their retirement funds, to work in a better way than what they were getting.
Philip Chan [00:20:23]:
Okay, I, I, I think I’m starting to get a better understanding of how you position yourself differently because you’re not really, you’re not really pitching the individual on anything related to the deal at all. You’re just saying, hey, if you’re willing to put up X amount, I can get you 8% or better on an annual basis.
Jay Conner [00:20:45]:
We just give them the opportunity first. It’s like here’s the private lending opportunity that you could be a private lender for higher rates of return, safely and securely, than what you are currently getting. Here’s the interest rate we pay, here is the length of the note, here’s the frequency of payments, a nd you get to choose that because every private lender’s got different cash flow objectives. Here’s the maximum amount that we’re going to borrow; here’s how we’re going to protect you. Here’s how you can get your money back early in case you have an emergency. We give them a 90-day call option. They want to get their money back early. And so, first is just the offering of the opportunity.
Jay Conner [00:21:22]:
You see, one mistake that new capital makers raise when they’re looking to raise private money is one mistake they make is talking about the opportunity and then pitching a deal and talking about a deal in the same initial conversation. Here’s a writer downer. Desperation has a smell to it. The worst time in the world to be raising money for your deals is when you need it for a deal. But no, the money comes first. You get the money lined up first, then you come back right away and fulfill your obligation of putting their money to work for them. We call it the good news phone call. And maybe in the next episode that I’m here on there with you, I can give you the script in your audience for the good news phone call.
Jay Conner [00:22:06]:
We get our deals funded 100% of the time with this one little script. But the reason it works is because of how we have structured and how we’ve set up this relationship, we’ve taught the private lender. They didn’t even know anything about private money until we told them about it. And so now, they’re ready to go. They’re waiting for a deal to fund, then we deliver the deal for them to fund, and everybody’s happy.
Philip Chan [00:22:33]:
So, in this way of private lending, do they know much about the money and where it’s going? Like, do they know that it’s going to real estate investments? Oh, sure, yeah, they know, but they don’t really know. But it’s not like a broker-dealer. Like, they don’t know all the nuances of that real estate deal. Right. They’re, you’re just mainly presenting to them what they get as an roi, how they can call their money back, like how they’re, their, their private money, it can be secured, and that’s I think, the pivot. Is that correct? Yeah.
Jay Conner [00:23:07]:
So on the first deal they fund, they’re going to know what the after-repaired value is. They’re going to know, obviously, what the funding is required for the deal. They’re going to know the closing date, they’re going to, where to send the money. Right. But they don’t get into what I buy it for? They don’t get into how much the rehab is.
Philip Chan [00:23:28]:
Yeah, no, I, yeah, it’s not, they don’t, they don’t really dive into the real estate nuances of it. There are more of you. This is more like, hey, you know, if you lend me this money, I’m going to give it back to you. And some more. Here’s how it works. And this is my track record.
Jay Conner [00:23:47]:
Yeah, it’s, it’s simple.
Philip Chan [00:23:49]:
Yeah.
Jay Conner [00:23:49]:
And look at the second one and the third one and the fourth one, and the fifth one. All they want to know is how much money you need and when you need it.
Philip Chan [00:23:56]:
Right, right. Because in a way, this is a blueprint that’s applicable to assets in general, as long as you know what you’re doing to those assets to get a hefty roi. Is that correct? Like, it doesn’t even have to be real estate. The concept is, if I’m correct. Right. You’re presenting to them an opportunity within private lending, private money. You’re educating them on how they can get an roi. And the asset at which you’re investing is actually secondary to the conversation because it doesn’t.
Philip Chan [00:24:28]:
Like in my case, it wouldn’t be real estate; it would be the markets. Right. And it would be, hey, we know what we’re doing within the markets, and we can, you know, if you’re willing to take this on. Right. This is how you can get your money back. And that’s the focus.
Jay Conner [00:24:42]:
Yes.
Philip Chan [00:24:43]:
Yeah.
Jay Conner [00:24:44]:
So I’m glad you brought that up, Philip, because of another mistake. New capital makers raise, they talk too much. Right. Like a confused mind takes no action whatsoever. So the key is to keep it simple, simple, simple, that anybody can understand.
Philip Chan [00:25:04]:
That’s why when a salesperson talks to me, I’m confused all the time.
Jay Conner [00:25:09]:
Right?
Philip Chan [00:25:11]:
That’s right. That’s right. But look, Jay, this has been very educational. Thank you so much for introducing me to the concept of private money in this short 20 minutes. I’ve certainly learned a lot and I’m looking forward to learn some more at our next get together. Now, for the audience listening, right. Number one, you have had some immersion within not just real estate, right? But entrepreneurship.
Philip Chan [00:25:39]:
What is your best advice? Right. If you were talking to your 18-year-old self, or maybe some pitfalls to avoid. Right. To conclude the episode for the audience.
Jay Conner [00:25:51]:
Surround yourself with like-minded people who have already been successful doing what you want to do. Don’t make the mistake. I did when I started with this. In my first six years, I was out here on an island by myself, just relying on my previous experience and success in a totally different industry. So what would I tell my 18-year-old self? Or, actually, in the case of 2003, what I would tell my 30 or my 43-year-old self at the time is go get in a mastermind, go get a mentor, go get around people that are already successful. I don’t care what it is that you want to do.
Philip Chan [00:26:33]:
Yep, I love it. I love it. That’s why I love studying success principles. Because regardless of the industry, it’s applicable. Right, right. As long as you know, when you study them enough, recurring themes keep happening. Thank you so much for your time, Jay, for the audience listening in. If they want to get in touch with you directly, what is the best way?
Jay Conner [00:26:55]:
The best way to get in contact with me directly is to let me give your audience a gift. And so the gift is my recent best-selling book, which is called Where to Get the Money Now for Your Real Estate Deals. How and where to get money for your real estate deals without relying on traditional lenders. And the book is 20 bucks at Amazon. But don’t go to Amazon and spend 20 bucks. Let me give you the book for free. I’ll autograph it for you. I’ll ship it to you via three-day express and just cover shipping.
Jay Conner [00:27:23]:
And you can pick up my book at www.JayConner.com/Book. Again, that’s www.JayConner.com/Book.. I’ll rush it right out to you.
Philip Chan [00:27:42]:
Thank you so much, Jay, for the generous gift. I really appreciate your time today, and I look forward to seeing you again.
Jay Conner [00:27:49]:
God bless you, Philip. Thank you.
Philip Chan [00:27:51]:
Thank you. You take care now.
Narrator [00:27:54]:
Are you feeling inspired by the knowledge you gained in this episode? Then head over to www.JayConner.com/MoneyGuide, that’swww.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.