***Guest Appearance
Credits to:
https://www.youtube.com/@GRIDInvestor
“Ep #33 Jay Conner —Where To Find The Money: How To Fund Your Deals Using Private Money”
https://www.youtube.com/watch?v=ZVigcl05thY
When most people first consider real estate investing, one of their greatest fears is how they’ll fund their deals. Banks and hard money lenders seem like the obvious go-to, but what happens when those sources dry up, as they once did for Jay Conner? The answer, as Jay Conner discovered, is private money—and embracing it doesn’t just solve a financing problem, it can dramatically accelerate business growth.
Early Days and the Banking Roadblock
Jay Conner didn’t start his career in the realm of single-family rehabs. Raised in the manufactured homes business, he was surrounded by affordable housing from a young age. But when financing for mobile homes disappeared in the early 2000s, the transition to single-family investment was a natural next step. Going full-time in 2003, Jay Conner began as many do, relying entirely on traditional banks and mortgage companies for funding his rehab deals. This process seemed rock-solid—until the financial crisis of 2008 hit.
Suddenly, with deals under contract, Jay Conner found his bank had shut down his lines of credit overnight. He was left with deals he couldn’t close, earnest money at risk, and no warning. This kind of scenario is exactly what keeps new investors awake at night.
Discovering the Power of Private Money
Rather than give up, Jay Conner made a choice to pivot—and it changed his life. Asking the right questions, he turned to a friend and learned about a new world: private lending. Unlike banks, private money involves borrowing from individuals—those with investment capital or retirement funds, people you may already know through your own network.
Rather than applying for money, Jay Conner began to teach people what private lending was and how they could earn secure, above-average returns. This education-first approach put him in a position of offering opportunity, not asking for a favor. Within less than three months, Jay Conner raised over two million dollars—enough to fund his deals and more.
Why Private Money is a Real Estate Gamechanger
For Jay Conner, private money isn’t just about having cash to close. It fundamentally shifts who controls the transaction. When working with banks, you’re subject to their rules, rates, timelines, and risk tolerances. With private money, you set the terms: interest rates, note lengths, and payment schedules. Your credit score becomes irrelevant, and approvals aren’t based on a rigid box of qualifications.
This flexibility means Jay Conner can offer to close deals in as little as seven days—a huge competitive advantage when negotiating with sellers, especially those in distress or dealing with off-market properties. Because private money doesn’t limit the amount of capital available or the number of deals that can be funded, Jay Conner hasn’t missed out on a deal for lack of funds since early 2009. In fact, his business tripled in volume right after making the transition.
The structure is also attractive for lenders. Their money is secured by real estate and is typically only loaned out up to 75% of the after-repaired value of the property, leaving a healthy equity cushion. In the unlikely event of a default, the lender’s position is protected and, in many cases, they would recoup their investment plus a profit.
Building a Network of Private Lenders
How does one attract private lenders? Jay Conner’s method revolves around education and transparency. He hosts private lender luncheons, Zoom presentations, and open houses where potential investors learn about the process, risks, and rewards. Team members like attorneys, accountants, and contractors are introduced to showcase professionalism and systems.
This servant-leader approach not only reassures prospective lenders but often leads to deeper business relationships. Jay Conner emphasizes that leading with education rather than a desperate ask for money eliminates the possibility of rejection. When investors understand the safeguards and benefits, reluctance gives way to enthusiasm.
Scaling and Automating for Success
With a solid private money foundation, Jay Conner runs a business that processes dozens of deals a year, provides attractive returns to his lenders, and gives himself the freedom to focus on strategic growth, not just day-to-day hustling. The difference is clear: securing private money isn’t just about accessing capital—it’s about unlocking a model for scale, security, and lasting impact.
Whether you’re an aspiring investor or a seasoned pro, Jay Conner’s story shows that the shift from dependency on institutional lenders to private money can redefine both your real estate career and your relationship with risk. The real opportunity isn’t in the deal or the property, but in how you fund it—and how you serve those who become partners in your success.
10 Discussion Questions from this Episode:
- Jay Conner shares that the biggest blessing in his real estate career came from being cut off by traditional banks. What do you think are the benefits and challenges of unexpected setbacks in entrepreneurship?
- The concept of “asking for nothing” is mentioned as a way to avoid rejection in raising private money. How might reframing your approach to asking for capital change your results or mindset?
- Jay Conner emphasizes educating your network instead of pitching deals. Why do you think teaching is such a powerful method for building trust with potential private lenders?
- Private money is described as putting you “in the driver’s seat” as a real estate investor. What specific freedoms or controls does private money provide that traditional financing does not?
- Resiliency is highlighted as a crucial attribute for success. Can you recall a moment in your own career or business where resiliency made a difference? How did you navigate it?
- The episode discusses separating the conversations about raising money from presenting deals. Why is this separation important, and how does it impact relationship-building with investors?
- Jay Conner outlines many protections for private lenders (e.g., lending at 75% ARV, collateralizing loans). How do these practices help overcome a lender’s fears, and what further assurances could be offered?
- What are some networking strategies Jay Conner uses to find private lenders, and how could you adapt these strategies to your own field or business?
- The idea of leading “with a servant’s heart” and being a “go giver” is central to the philosophy discussed. How might this mindset shape the culture and long-term prospects of a business?
- Jay Conner
explains how market shifts forced him to innovate and pivot his business model. How can real estate investors (or entrepreneurs in general) prepare themselves for and adapt to sudden changes in their industries?
Fun facts that were revealed in the episode:
- Jay Conner and his wife Carol Joy invest in real estate in a small North Carolina community with a population of just 8,000, but they’ve managed to rehab over 475 single-family homes in their area.
- Jay Conner sometimes gets a big check when he buys a property instead of when he sells, because he borrows up to 75% of the after-repaired value, often more than the purchase price, allowing him to come home from closing with “excess cash” for renovations and expenses.
- Jay Conner once raised $969,000 from a single private lender luncheon, showcasing the power of education-based events in attracting private funding for real estate deals.
Timestamps:
00:01 Private Lending and Real Estate Investing
05:42 Secrets to Raising Private Money
07:24 From Mobile Homes to Housing
09:49 No-Cash Real Estate Deals
14:38 Creating My Own Lending Rules
19:19 Responsibility Over Life’s Responses
22:55 Exploring Self-Directed IRAs
23:43 Resiliency for Real Estate Success
29:19 Investor Concerns and Security Measures
30:51 Private Lending & Real Estate Insights
35:10 Setting Terms for Investment Notes
36:55 Substitution of Collateral Explained
41:38 Beach Gathering with Networking Focus
44:10 Zoom Parties for Private Lending
49:59 Real Estate Investment Workshop
51:05 Real Estate Success in Days
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.pinterest.com/JConner_PrivateMoneyAuthority
Resiliency and Relationship Building in Private Lending With Jay Conner
Jay Conner [00:00:00]:
There’s more fear from a new real estate investor wanting to get into private money than from the private lenders themselves once they see how they’re protected. And you know, and, and I say to anyone that is interested in starting to use private money to fund your real estate deals, here’s a writer downer. It’s impossible to be rejected when you’re asking for nothing.
Narrator [00:00:26]:
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 Conner.
Rob Chevez [00:01:00]:
Grid. What is going on, everybody? Hey. Today,y I have Jay Conner with us, and he’s going to talk to us about where to find the money. Now. No,w before we do that, though, it’s like I, I love the heart, Jay, of the real estate entrepreneur, right? You’re a real estate entrepreneur. I want to get an understanding of how you got started right where this all came about. When I was doing some research on you, I was like, okay, this, this guy’s all about private lending. And I saw something that probably happened in his career that led him in this direction.
Rob Chevez [00:01:35]:
And so I would unpack that a little bit for our GRID audience. And, as you know, we’re taking everybody on this income flip journey where we want to show them how to take their active income and convert it into passive income. And so, so let’s just kind of get into it, you know.
Jay Conner [00:01:50]:
Sure, absolutely. Rob, first of all, thank you so much for inviting me to come along and hang out and talk about my favorite subject that I’m the most passionate about, that being private money and private lending and how all that works. So my wife Carol Joy and I, we live here in eastern North Carolina in a really, really small community. Morehead City, North Carolina has a whopping 8,000 people in Morehead City. So our entire county and the adjacent community that we invest in have only got 40,000 people. Only 40,000 people. We’ve been full-time investing in single-family houses. We’ve rehabbed a little over 475 houses now here in our local area.
Jay Conner [00:02:35]:
And we only do about 30 deals a year. But the average profit now is $78,000 per house. So the math works out on that. So we started full-time back in 2003, which is when we were full-time. We only did three houses in my first year, because I was just getting my feet wet. And Rob, here’s what happened. The first six years that we were in the business, investing in single-family houses, from 2003 until 2009, I relied on the local banks and mortgage companies to fund my house deals. That’s all I knew to do. I didn’t know; I’d never heard of creative financing.
Jay Conner [00:03:16]:
I’d never heard of subject to. I’d never heard of private money. I thought you just had to go to the bank, take a sizable down payment on every deal, and borrow money from the bank. In January of 2009, I had two houses under contract to buy. And I called up my banker and Rob. I had had this conversation with my banker many, many times. I told him about the deals, where they were located, and the funding required. And I learned very quickly, Rob, on that conversation, that the bank had closed my line of credit. No funding, all gone.
Jay Conner [00:03:53]:
My first thought in my mind, Rob, was, you know, I sure wish I had known that they had shut down my line of credit before I went and put earnest money down on these two houses. And back then in North Carolina, you couldn’t get it back in 2009. And so my next thought was, what in the world am I going to do? Well, I tell you what, Rob, that experience was the biggest blessing, the biggest impact in our business I’ve ever had. Because without being cut off from the bank, and by the way, I had a great credit score. Never been late. I mean, I didn’t know there was a global financial crisis going on until now. I got a crisis and fund my deals. Well, my definition of coincidence is God’s way of staying anonymous.
Jay Conner [00:04:39]:
In less than two weeks, I learned about this world of private money and private lending. I put my program together, and I started teaching people in my own network what private money is. I learned about self-directed IRAs. I started teaching about self-directed IRAs. And you know, Rob, the. The traditional way of borrowing money, borrowing money for real estate is to go to the bank, the mortgage company, or the hard money lender. And I’m not talking hard money in this conversation. I’m talking about doing business with individualswhot loan money out from either their investment capital or their retirement funds.
Jay Conner [00:05:16]:
And so the traditional way to borrow money, you know, is you go to your banker and you get on your hands and knees and put your hand underneath your chin and you go, please fund my deal. Please fund my deal. Right? Well, no more, no more. Not in this world. You see, the traditional way to borrow money from the bank is to ask for a mortgage. In this world, we don’t ask for mortgages. We don’t ask for money. I’ve never pitched a deal.
Jay Conner [00:05:42]:
I’ve never asked anybody to fund my deals. And people ask me all the time, they say, Jay, how do you have eight and a half million dollars that you just rotate from project to pprojectto project, and you never ask. Here’s the secret sauce you put on your teacher hat, and you teach people in your own network, your own market, what private money is, how they can earn high rates of return safely and securely. So I was able to raise $2,150,000 in less than 90 days by just teaching people that I go to church with, that I’m in the Rotary Club with, in business, networking, international, all that. And so I’ve got more money chasing me today from private lenders wanting to put their money to work and get a high rate of return safely and securely than I’ve ever had before. Private money. And I got a long list as to why I love it. But private money, as a real estate investor entrepreneur, will put you in the driver’s seat in control of your business more than anything else I’ve experienced.
Rob Chevez [00:06:45]:
Jay, let’s go back in time a little bit. By the way. I love that because at the grid, we are teachers. We always say that we, we are teachers at heart. GRID is a real estate investing teaching platform, when you think about it, right? Each one of our leaders has a teacher’s heart and is pouring into the greater community on a specific topic. You just taught them. We have a series of topics that we teach on, but you taught them this one topic, this private lending space, which I absolutely love as well. But what brought, what got you into real estate in the first place? Because I don’t think 2003 was your first career.
Rob Chevez [00:07:22]:
Right?
Jay Conner [00:07:24]:
Well, I know I look much younger than I actually am, but you’re right, the answer is correct, yes. So I was actually raised in real estate, but not in the traditional real estate definition. My dad actually was the largest retailer of manufactured homes, mobile homes, trailers, wobbly boxes, whatever you want to call them, in the nation up until the late 80s. I was raised all around, seeing how my dad and his company helped people get affordable housing. So I was raised around that. In 2003, essentially, all the consumer finance money for that product went away. And so I knew if I ever got out of mobile homes, manufactured housing, I wanted to get into single-family houses. And so that’s what I did.
Jay Conner [00:08:18]:
I mean, I’d known for years. And the reason I knew I wanted to do it is that Carol Joy and I’ve got really, really good friends. Craig and Kim live in Newber, North Carolina, in 19. I forgot what year it was. I think it was 1993. They wanted to build their house, but they didn’t have any seed money to build the house. Well, the wife, Kim’s dad,y was a full-time real estate investor down in Florida. And he said, look, I’ll come up, and we’ll find a fixer-upper.
Jay Conner [00:08:47]:
I’ll buy it, you do the sweat equity, get it looking good, we’ll put it on the market, we’ll sell it. You get to keep the profit for your down payment on your house. Well, they made $30,000 in 90 days. And I’m going, wait a minute, I’m trying to make $3,000 profit on a single-wide mobile home. And they made $30,000 just working part-time in the evening and on the weekends flipping this house. I said, I know what I want to do. So really it was my friend’s experience that, you know, got me all excited about it.
Rob Chevez [00:09:21]:
Interesting. Yeah, you saw a different vehicle that opened up your eyes, and then, and then, and then from there it sounded like there was an additional vehicle. Right. This private lending space has opened up your world even further. And so I want to understand what all the nuances are that you love about private lending? Like when you’re like, I am passionate about it, what is it like, what is it that makes you so passionate about private lending?
Jay Conner [00:09:49]:
You know, it’s even hard for me to share which of these many reasons I love the most. If I had to choose, if I had to pick just one out of the list first, I would say I receive multiple checks on every deal that I do. And I never take any of my own clothes, any of my own cash to closing. In fact, I get a big check when I buy. They say, wait a minute, Jay, wait a minute. How in the world do you not take any of your own money to the closing table, and you get a big check when you buy? Well, first of all, I’m buying all these houses at significant discounts, right? Even the, I mean, I’m not buying them in the multiple listing service. There ain’t anything in there. There’s no inventory.
Jay Conner [00:10:31]:
I haven’t bought anything on the multiple listing service in quite a while. So I’m buying all these houses directly from FSBOs for sale by owners. So either the owner is distressed for a variety of reasons, or the property is distressed, or all the above. So most of these houses I’m buying, I’m buying at less than 50 cents of the after-repaired value. Right? So we’re buying at a significant discount. Well, I’ll borrow up to 75% of the after-repaired value. I didn’t say 75% of the purchase. 75% of the after-repaired value.
Jay Conner [00:11:08]:
So let me give some specific numbers here. Let’s say that I’m buying a house. It’s got an after-repaired value of just easy numbers here of $200,000. And let’s say that it’s a rehab, it needs a rehab. Well, I’ll buy that house, let’s say for $100,000. Well, I can borrow $150,000. That’s 75% of the after-repaired value. Well, let’s stop and think about it.
Jay Conner [00:11:34]:
If I’m buying it for 100,000, and my private lender has wired $150,000 to the closing table. There’s excess cash. By the way, that’s my real estate attorney’s words on this check stub. Excess cash to close. I love me some excess cash. Anyway, they wired $150,000, I’m buying it for a hundred. Well, there’s $50,000 excess right there. Less some closing cost of course, and I’m bringing that check home.
Jay Conner [00:12:02]:
50 grand. No, with the majority of that money, I’m going to use for the rehab, maybe $35,000 or so. And then I’ve got some other money left over for carrying cost and excess, etc. So, of course,e then I’m gonna get another check when I cash out. Or I may sell it on lease purchase and get a large non-refundable lease option deposit, and you know, sell it on rent to own. So multiple checks, not taking any of my money to the closing table. What’s another reason? Well, my credit score’s got nothing to do with it, even though I’ve got a great credit score. But you see, there’s no application process.
Jay Conner [00:12:38]:
You’re not applying to get the money. You’re teaching people what this program is,s and now they tell you how muchthey havet to work with, and now you go find a deal to put the money to work. So number of deals, there’s no limit to the amount of private money I can borrow at any given time. I had a limit on my line of credit at the bank since we’re not regulated by the commissioner of banks. These are individuals doing business with individuals. There’s no limit to the amount of private money I can borrow. And there’s no limit to the number of private lenders that I can have. I got 47 right now, right, that are loaning and investing anywhere from 30,000 to a million.
Jay Conner [00:13:22]:
250,000 per private lender. Fast closings. I make all my offers. I can close within seven calendar days. I mean, my lands. I mean, all your agents know this. Aren’t you surprised anything ever closes? It’s like, I mean, how many times are they going to lose the W? The most recent W? 2. The W2, three times.
Jay Conner [00:13:49]:
Right? So, I mean, the documentation is so simple. When I close with a private lender,r and I make my offers, I can close in seven days, and I get more offers accepted because I can close fast. And I mean, here’s the deal. I just, I just closed on a house two weeks ago. The people said, look, I don’t. We don’t want to sell till August. Well, we all know time kills deals. The more time that goes by between negotiating a deal and actually closing that deal, the less likely it is to happen.
Jay Conner [00:14:22]:
So they said, we went on to close till August. I said, no problem. I’ll pay you all your money right now. We’ll close. You transfer ownership to me, and you can live rent-free. Yeah, end of August, right? So I can close fast. No limit to the number of deals I want.
Jay Conner [00:14:38]:
And I make my own rules. Boy, ain’t that a difference? I mean, when I was borrowing money from the banks, the bank set the interest rate; I set the interest rate, remember? Private lending program to my potential private lenders. So here’s the interest rate I’m paying. Here’s the length of the note. Here’s how you can get your money back in, you know, less than 90 days if you have an emergency come up. So I teach the program, and now they love it, or they don’t. And I can tell you they always love it because where else are they going to get these kinds of rates of return safely and securely? So we put the program and the parameters together, and I mean, it just puts you in control of so much, so much of your business. And here’s.
Jay Conner [00:15:22]:
And here’s another one. I mean, yeah, I’m making the rules. I can do as many deals as I want to. Listen, Rob, when I first learned about private money, when the banker cut me off in January 2009, our business tripled. And remember what was going on in 2009? All those foreclosures were going on, and the banks weren’t lending Money. Well, if you had money, you could buy foreclosures. Well, now I had all that private money,y and our business tripled because I could pick and choose the dealsI wantedt. I mean, because of private money, I’ve never missed out on a deal for not having the funding since January 2009.
Rob Chevez [00:16:03]:
Jay, so let’s pause there because that, that, that, that. There are a lot of lessons to be learned there. I remember September of 2008, when Lehman Brothers filed for bankruptcy, right? It was literally Armageddon. Every house in our area was a foreclosure or a short sale. And you know, every market, every market was slightly different in where they were. You know, I remember feeling the peak in 2005. I remember feeling the slide down in 2007. I remember seeing it go off a cliff.
Rob Chevez [00:16:35]:
In 2008, I started seeing a comeback,k and in 2009, 2010, 2011, right? My question is this. When you got cut off, so many people would have liked to throw in the towel or gotten into trouble or, you know, like. But you pivoted, you, you pivoted. How did that pivot happen? Who introduced you to it? How did you, how did you reimagine the business? Because in a shifting market, you have to reimagine the business. And right now, the market has shifted for many people. So there’s a reimagining of the business. I’m just curious, like, what was the thought process?
Jay Conner [00:17:16]:
I’m so glad you asked. I mean, you know, I had a choice. I could quit, right? Quit, go eat Cheetos on the sofa at the house,e and pray. But I’m so glad you asked that question. And here’s why I want to share with everyone right now a formula that I learned from Jack Canfield. Jack Canfield, you know, is the co-creator of the Chicken Soup for the Soul series. Jack Canfield and Mark Victor Hansen did those together. And Jack wrote this book that is amazing.
Jay Conner [00:17:54]:
The name of the book is The Success Principles. The success principles. There are 69 success principles. The very first principle in the book is be 100 responsible for everything that happens to you in your life. And in, and in that so many, so many people walking around feel like a victim. Like, you know, it’s where the tide takes me, that’s where I’m going to end up. Instead of being a Victor, they are a victim. Right?
Rob Chevez [00:18:25]:
Right.
Jay Conner [00:18:26]:
So in that chapter, be 100% responsible for everything that happens in your life. Here is this formula that can transform your life and the way you think about things, and put you in control of your destiny. Here’s the formula. E, R equals O. And here’s what this formula. Here’s what these letters stand for. E stands for event. R stands for response, which is your response.
Jay Conner [00:18:54]:
Equals O, which stands for outcome. Now, unfortunately, most people walk around, live with a formula in their mind. They don’t know what the formula is, but this is what they live by. They live by. E equals O. Event equals outcome. Whatever happens in my life, okay, that determines what I am experiencing. Well, you see, you can have an event happen in your life, such as me being cut off from the banks, thathappens tor you.
Jay Conner [00:19:19]:
Either you had something to do with creating that event in your life, or you didn’t. Now, I’ve got a really, really good friend who, when he was seven years old, his father died. And for decades, he blamed. And that was his excuse for everything that sucked in his life. It’s like, well, what do you expect? My dad died when I was seven years old. You see his response? So he didn’t have anything to do with his father dying, right? Everything to do with that. But he could have been 100% responsible for how he was going to respond to his father’s dying. About 10 years ago, he turned his life around.
Jay Conner [00:19:56]:
And, and, and now he’s responded to that event in a totally different way. And now he’s got his own coaching business and personal development business and all that stuff. Well, why in the world am I sharing that story? Because of what happened to me in January 2009. Remember, event plus response equals outcome. The event was that the bank cut me off. The bank cut me off. I don’t have anything to do with that. I didn’t have anything to do with Lehman Brothers, you know, falling and all that, but I am experiencing that event.
Jay Conner [00:20:26]:
The bank cut me off right now. How do I want to respond to that? Right? Because my response is going to determine the outcome of that event. So here’s exactly what happened, Rob. I sat here, you know, by the way, here in eastern North Carolina. Can you believe we still have handsets with cords?
Rob Chevez [00:20:47]:
I love it.
Jay Conner [00:20:48]:
Isn’t that amazing? That is. But I picked up this very receiver after. Well, I’m talking to my banker. I hang up, right? And I sit here for a moment. Now, here is a really, really important question that you can ask yourself when. When. When dirt hits the fan. All right? The question I ask myself is, who can help me with my problem? And by the way, the people who call problems opportunities.
Jay Conner [00:21:21]:
Would you wake up, please? I didn’t have an opportunity. I had a problem. I had a blankety blank problem. And the problem is I got two deals under contract and no way, no way to close on them. Now that’s my problem, right? So I asked myself, who can help me with my problem? So the very first, I mean, the powers and the questions. The powers, you know, what’d you say?
Rob Chevez [00:21:48]:
I said, absolutely. You know, the book, it reminds me of the book that, not how. If you’ve read.
Jay Conner [00:21:53]:
Yes, I love that book. I love it. So I sat here for a moment, I asked myself that question, who can help me with my problem? Well, immediately I thought of Jeff. Jeff’s a good friend of mine. He was a part-time real estate investor at the time. He lived in Greensboro, North Carolina. And I called him up, and I told him what happened. He said, welcome to the club.
Jay Conner [00:22:15]:
I said, what club? He said, the club of getting cut off from the bank. They just cut me off last week. I said, well Jeff, how are you going to fund your deals? He said, well, there’s this gentleman down in Jacksonville, Florida, by the name of Ron Legrand who can teach us how to get a lot of private money. I said, what’s private money? Jeff says, I don’t know. But Ron says we can get a lot of it. So II wentto Ron’s seminar to learn about private money. And I learned about it. I mean, I mean it was all new to me.
Jay Conner [00:22:55]:
I learned about self-directed IRAs and how, how people can use their current retirement funds and transfer them to a self directed ira, third-party custodian, and then loan money out from their retirement funds, either tax-free ortax-deferredd. All this was a new world to me, and I was so fascinated. So the first thing I had to wrap around my mind, Rob, was you’re not applying for money, you’re not asking for money, you are offering people an opportunity. And now you’re going to teach them. You’re going to teach them. Now there are three categories where you find private lenders, your own network, or I teach people all the time how to grow their network because we know there’s a direct correlation between your network and your net worth. Of course. And then there are existing private lenders.
Jay Conner [00:23:43]:
How do you find those existing private lenders that are already loaning money out? But I focused first on teaching my own network what it was all about. So, how it happened was, you know, somebody asked me recently, say Jay, what do you think is the most important attribute, personal attribute, that someone can have or should have to be a successful real estate investor, or quite frankly, successful in any expertise or want to become an expert in it. And I immediately had the answer come to my mind. Resiliency. Resiliency, right. You know, you’re just going to keep going, and if you get a problem, you’re going to ask for help. You’re right. You’re gonna, you’re gonna go to a seminar, you’re gonna get educated, you’re going to ask other people who might be experiencing the same thing you are.
Jay Conner [00:24:35]:
How are they navigating through that? I mean, for goodness ‘ sake, don’t start in this business by yourself. So I guess there was more than one piece to it, Rob, as to what got me through it. I’m just committed, I’m gonna be resilient. I’m not going to give up, and I’m gonna ask for help when I need help.
Rob Chevez [00:24:56]:
Well, you knew that, you know, being a real estate investor entrepreneur is about learning how to solve problems for the clients, for yourself, for the business. And so you’re like, how do I solve this problem? And, most importantly, who can help me solve this problem?
Jay Conner [00:25:14]:
Right?
Rob Chevez [00:25:14]:
Who can help me solve this problem? So that’s great. So, a relationship was able to kind of guide you. A mentor or friend was able to guide you to a mentor who then exposed you to private lending. And it sounds like you were using all the money for your own personal acquisitions. And some of them you’re, you’re putting on lease options. But do you ever, do you ever lend the private money out, create the spread? Are you, are you a private? Are you a hard money lender, using the private funds as a hard money lender as well?
Jay Conner [00:25:47]:
So I love both, I love both ends of the industry. So being a private lender is a great way to be in real estate. But you’re just totally passive, right? As a private lender, you don’t have to go out, you don’t have to market, you don’t have to find the deals, you don’t have to negotiate the deals, you don’t have to oversee the deals, blah, blah, blah, blah, blah. You’re just, you know, loaning the money out. Right? By the way, we never borrow unsecured money or lend unsecured money. We always back it with the real estate that we’re buying, giving the lender a deed of trust or a mortgage, et cetera. We name them on the insurance policies, the mortgagee, to protect them as well. But the answer to your question is yes.
Jay Conner [00:26:28]:
So I moved my retirement funds, when I learned about it, over to a Self directed ira, also known as a third-party custodian. And oh my lands, the company I’m working with these days, their service is unbelievable. I get my deals funded in three days. But yes, I use my retirement funds as a private lender. Right. And then I borrow a bunch. And one question I get all the time, not all the time, but a lot. And I say, wait a minute, Jay, wait a minute.
Jay Conner [00:26:57]:
You say you’re doing 30 deals a year, you’re averaging $78,000 per deal. Why in the world are you still borrowing private money? Why don’t you just use your own money? And so here’s the answer. Using your own cash, if you have it, is a great place to put in a house that you’re going to flip. But I’m not going to bury my cash in houses for the long term. And, I don’t want my money tied up in 20 projects. I got 20 houses going right now. And another answer to that is, okay, I pay my private lenders 8%. 8% is what they get paid.
Jay Conner [00:27:38]:
That’s the annual percentage rate. But if I can get a higher return than 8% using my cash elsewhere, then I’m not going to tie my, my money up in houses if I can go elsewhere and get even better than 8%. Right. So anyway, those are the reasons that I still borrow a lot of private money myself.
Rob Chevez [00:28:01]:
Yeah, makes complete sense. And, you know, there is a difference between that passive private lender who just wants a coupon and somebody like you who understands the business and understands how to be active and create arbitrage in that process. And you just know that you can actually turn your money and make more money on that. Right. And that’s, that’s because you have specialized knowledge. And specialized knowledge is, is worth a lot of money. Right? It’s worth a lot of money.
Jay Conner [00:28:29]:
Right.
Rob Chevez [00:28:31]:
Well, what, what are some of the, the, the fears that you find that a new private lender typically has? Like when you’re in the education process, and you’re helping them navigate this process, what are some of the things that you help them overcome and understand?
Jay Conner [00:28:50]:
Yeah. So one thing they want to know is how they protected themselves? Like, what’s the worst that could happen? Well, I guess one of the worst things that could happen is I could lose my mind and, and, and move to the Caribbean and, and disappear. Right. How are they protected? Well, they’re protected because if you don’t pay them as the borrower, the property does. If you don’t pay them, the property does. So they can get the property. Of course, they don’t want the property. They don’t want to house with the property.
Jay Conner [00:29:19]:
But that is their security, right? And in fact, since we don’t only borrow up to 75 after repaired value, they’ve got a nice 25% equity cushion right in that property where they can actually make more money if they sold the property than the interest that I was going to be, you know, paying them. They want to know how fast you can use the money and put their money to work, and how, how often? I mean, it’s like they don’t want you to like, keep paying. They don’t want you to pay it back. And now their money’s just sitting there, not earning any interest. So they want to know, okay, if we’re going to do business, are you really going to be able to put my money to work? Right. Because they don’t want to just sit there and hold it. Okay, what happens if you die? What about the borrowers? Yeah, I mean, what if you die? How are they protected? Right.
Jay Conner [00:30:13]:
Well, if you die and you don’t pay and your estate doesn’t pay them, same scenario, they’ve got the property. Right, but if you die, I mean, what’s your plan? I mean, you know, what’s your exit strategy for what a private lender would, you know, anticipate? And I get that question now and then, not often. It’s a great question. Well, I tell them who my trustee is of my estate, and that my attorney is the trustee, and the trustee knows that my wife is not going to want to continue this business. Right. She’s in charge of all the bookkeeping. But I mean, she’s not going to be out here negotiating deals and all that kind of stuff. Just not her cup of tea.
Jay Conner [00:30:51]:
So he has instructions to liquidate the properties. And when you liquidate, you can’t liquidate a property until the private lender is paid off, because you can’t liquidate and sell a property and give a clear title unless everybody’s paid off. So the, the trustee knows, you know, what to do in that case. And beyond that, that’s, that’s really, that’s really about it. There’s really Rob. There’s more fear from a new real estate investor wanting to get into private money than from the private lenders themselves once they see how they’re protected. And, you know, and, and I say to anyone that is interested in starting to use private money to fund your real estate deals, here’s a writer downer. It’s Impossible to be rejected when you’re asking for nothing.
Jay Conner [00:31:41]:
Think about that. It’s impossible to be rejected. So we lead with a servant’s heart in everything that we do. And if you’re genuinely teaching people what this world of private money is all about and you’re not pitching a deal, listen, the worst time to be raising private money is when you need it for a deal. That’s the worst time to be raising any private money. What we do is we separate the conversations and the activities of raising private money and then having a deal to fund, right? So first, we teach you teach a potential private lender what? This is how it works. They love it. If they have retirement funds, you introduce them to the representative at the self-directed IRA to answer any questions.
Jay Conner [00:32:35]:
They get their account funded, they’re ready to do business with you, and they tell you how much they got. Now we’re going to put their money to work for them just as fast as we can. So now, when it’s time to use their funds, you already know what they got. Well, I call them up, and I tell them only four things. And this is the only four things they want to know. Where’s the property, what’s theafter-repairedd value, how much do you need to fund it, and when’s closing? And so you know, Rob, let’s say you’re one of my new private lenders. You tell me you got $150,000 you want to start with. By the way, private lenders always have more than they tell you.
Jay Conner [00:33:12]:
They always get more than they tell you. They want, you know, to start. So let’s say I get a house under contract over here in Newport. So I call up Rob with my, you know, handy dandy handset here, all up, Rob. And I say, right, and here’s the exact script. Here’s the exact script. I say, Rob, I’ve got fantastic news for you. I can now put your money to work for you.
Jay Conner [00:33:34]:
I’ve got a house over here in Newport with an after-repaired value of 200,000. The funding required for the deal is 150,000. That’s what you’ve got. You already told me. And closing is next Thursday. You’ll need to have your funds wired to my real estate attorney, going to his trust account, by next Wednesday. I’m going to have my attorney email you with the wiring instructions. You notice I didn’t ask you, Rob, do you want to fund the deal? That’s the most stupid question in the world.
Jay Conner [00:34:03]:
I could ask you. You may think, well, I don’t know, do I want to fund it? Should I want to? Of course you want to. You’ve been waiting for the phone call because you told me you want to invest your funds. So, of course, I’m not going to bring a deal to the conversation that does not meet the criteria of the program that I already told you about. And so, of course, you’re going to want to fund the deal, and you’re excited to get the phone call because you’ve been waiting for the phone call.
Rob Chevez [00:34:31]:
Do you get?. Jay, where are your investor, let’s say you’re, you’re, you’re, you’re fixing and flipping a property, and you know, the money is out for four months, and then it goes back to them, and they’re like, this is great. But then maybe they don’t, they don’t get another call from you for two, two months or a month. And I don’t know what your business looks like, but they’re like, I’d like to just have it out there for longer, Jay. I don’t want the, the back and forth, right? I just want to have it out for like a year or two years. And, and, and if I want to call it, you know, then you have like a 90-day window, and it can get called. Do you ever do anything like that with your private lenders?
Jay Conner [00:35:10]:
So my terms, my length of the notes, if it’s just investment capital, like, you know, just liquid money in the, in their checking account or savings account, I’m going to set those terms up for two years. If the, if the money is coming from their retirement money, I’ll go ahead and set it up for five years just in case I end up selling it on rent to own, and you know, we don’t have to keep extending the note. So in this market, here’s the reality. I’ve got so many deals going, it can easily be three or four months before my crew or one of my general contractors can even get to the house. Three or four months, right, because we just got them, we got them backlogged. They’re waiting, right? And then on a 40, $50,000 rehab, they may be in that house for two or three months, right? So now I’m three months, four, I’m seven months down the road. And now let’s say I do put it on the market, 45 days to close. So I’m like nine months, 10 months, you know, so typically, even on our flips, it’s going to be knocking on that, you know, year down the road, nine months to 12 months.
Jay Conner [00:36:26]:
But here’s the deal. I can’t keep the money unless I’m collateralizing. I mean, I can, I mean, I could legally do just a promissory note and not secure their note. But I don’t do business that way. I mean, I have people all the time starting with them. They say, well, Jay, how do I get started? Do I just write you a check? No, you do not write me a check. You don’t write my company a check. You only send money to the closing agent’s trust account.
Jay Conner [00:36:55]:
Right. No monies are dispersed until after funding. And that closing is handled here in North Carolina by our real estate attorney. But you know, if they’ve got the money there with you for nine months to 12 months and you’re able to put that money back to work pretty quickly, they’re happy with that. On the other hand, I do a lot of substitutions of collateral. What in the world is that? Well, you realtors know what it is, but just to make sure, a substitution of collateral is exactly what it sounds like. The legal term is actually a loan modification. And so what we’ll do is I’ll use smaller amounts of money for rehabbing, like 30,000, 40,000.
Jay Conner [00:37:35]:
And that’ll be like a note in a junior position underneath the larger note that I say was used for the purchase. So if I’ve got a note that’s 30, 40, $50,000, and let’s say I’m selling and I’m cashing out on that particular house, and there’s a private lender note in second position that I used for rehabbing. 30, 40, 50,000. Well, if I’m cashing out, in fact, I’ve got one going like right now, I’m closing next week. Well, I’ve got a $50,000 note in second position on the house that I’m selling. Well, that private lender doesn’t want their money back. Right. I’ve been doing business with them for years.
Jay Conner [00:38:13]:
So I will have my attorney draw up a loan modification. We will substitute that $50,000 note. We’ll substitute the collateral so the note stays in play. They don’t lose any interest, they don’t lose any time. Right. It’s still earning money. And my attorney will draw the loan modification. And it’s just like it sounds.
Jay Conner [00:38:33]:
We’re going to pay off that house now. We’re going to substitute another house, the collateral to back that original note. So that’s fantastic.
Rob Chevez [00:38:45]:
I see that. I see that. And I would imagine when you’re a private lender, one of the biggest things that you need to do is you mentioned your wife does all the bookkeeping, making sure that the books are done properly. Right. What’s your process for that?
Jay Conner [00:39:03]:
Just.
Rob Chevez [00:39:03]:
And I know that’s separate. Right. Your private lender is always; they just care about their check. Did I get my, did I get my coupon this month? Right. But you need to always be making sure that you are running your business in a business-like manner and doing the books. What are your habits around that?
Jay Conner [00:39:24]:
So I understand all of our accounting is at our CPA, you know, set up our QuickBooks for us, and so everything is run through there once a month. Once a month. I bring up today what’s called our private lender spreadsheet. And on this. And we just use Excel, right? There’s nothing sophisticated here. And we, I take an inventory of, okay. Which private lenders have how much money available, and when does one get paid off?
Jay Conner [00:39:57]:
When we pay off a house and our private owner gets paid off, we do what’s called putting them in the queue. So they go back in line. Right. And we work, work our way back up. And so typically our private lenders are going to have their money just sort of sitting, waiting maybe 30 days, 45 days before we’re actually able to put it back to work if we didn’t do a substitution of collateral. Some of our private lenders are paid monthly, some are paid quarterly, and some are paid semiannually. And, that’s again very, very simple. It’s an Excel spreadsheet as to who gets paid when.
Rob Chevez [00:40:34]:
I love it. I love it. And you know what’s so interesting is that when I first got into this business, I thought that lending money was the risky part. And what you come to learn is it’s the safest part of this whole side, especially when it’s collateralized at the right ltv. And that is, I’m sure, part of your education. Right. And I’m curious, what do you do for the education piece, or do you hold like monthly seminars for that? Like what, what is your process for the monthly education?
Jay Conner [00:41:07]:
Yeah. So one of my favorite ways to raise a lot of private money really quickly is by putting on private money events or private money luncheons. Right. I’ve raised $969,000 at one luncheon. One luncheon. And what happens? And I’ve. And of course, you know, I teach my students how to do this all the time. What happens at a private lender luncheon? Well, number one, you’re going to buy lunch, right? You’re going to have it at one of the nicest places you have.
Jay Conner [00:41:38]:
I love having ours over at the Dunes Club, which is a beach club over here at Atlantic Beach. And the whole deal is only going to last an hour. So you got a preset menu. You’re going to invite, you know, people from your own network, potential private lenders, and you’re going to have your team there. So my attorney’s going to be there, my real estate attorney’s going to be there, my CPA is going to be there, my realtor that I do business with, by the way, I’ve been doing business with the same realtor. I’m not a realtor, but the realtor that I do business with is very, very important to me. Chris Latham has been my primary go-to realtor for. Since 2004.
Jay Conner [00:42:19]:
Since 2004. And he does all my CMAs and all that. So my realtor is going to be there. One of my general contractors will be there, my acquisitionist, and my team will be there, you know, so they can meet. So they come in, they sit down, we have a pre-planned meal, and food is served. And then about 20 or 25 minutes into it, I do my PowerPoint presentation, which is called the Private Leonard presentation. That’s where I teach them what this private lending world is all about. Only takes about 25 minutes to go through.
Jay Conner [00:42:52]:
So the purpose of that private inter-luncheon is to introduce and to teach the private lending program. And of course, as all of you know, as realtors and agents, the money is in the follow-up. The money’s in the follow-up. So we’ll follow up with them as well. So I love doing private lender luncheons. A private money event is where you could invite people to one of your houses if you’ve rehabbed it. And you can have before pictures as to what this thing looked like before you started. I mean, HGTV sexified this business, you know, so people love that stuff.
Jay Conner [00:43:29]:
They love it, right? So you can have pictures or, you know, an easel set up with before pictures and now they’re walking through your beautiful, newly renovated home that’s staged and ready for Southern Living magazine pictures, by the way. Side note, I always have Lighthouse videos, do a music video on Matterport, tango through the house, and I got the music video and everything. And so now they can see what you’re doing when you’ve done a deal. And then you can teach the private lending program there as well. You can have aZoomm party, invite People in my lens. Zoom COVID changed everything with Zoom.
Rob Chevez [00:44:09]:
It did.
Jay Conner [00:44:10]:
So I love to use Zoom, inviting people to a, to a investor opportunity, whatever you want to call it, and you invite them to the Zoom party. And you know, it takes the same amount of time to teach your private lending program to one person as it does to 25. I love Zooms for people that are out of the area, state that you’ve got a connection with, by the way. I do have a cell phone, by the way, if they, if a contact’s in your cell phone, either they or somebody they know is a potential private lender. So I invite them to the Zoom part,y and you know, do the private lender presentation, you know, that way as well. We do webinarsand invite people to webinars. We still, we still do webinars. But one of my, in addition to all that, one of my favorite ways to raise a lot of private money is get involved in BNI.
Jay Conner [00:45:05]:
And with all of you all being realtors and agents, I know you’ve got to know what BNI is. They only let one realtor in one seat, one seat for the realtor. And isn’t that a coveted seat right there? So bni, I’ve raised a lot of money by being so involved in BNI, being the education coordinator, and having that extra five minutes of FaceTime at the BNI meetings. So, you know, grow your network, get involved, get involved in the community, leave with a servant’s heart,t and you know, the more you get out there and give through the law of reciprocity, you know it’s all going to come back to you. By the way, another book I love the Go Giver by Bob Berg. The Go Giver. I had him on my podcast about six weeks ago. He’s amazing.
Rob Chevez [00:45:52]:
Jay, I’m glad you brought that up because, well, first and foremost, grid right is, is comprised of, it’s led by the agent investor, but we have thousands of just full-time investors that are part of the community. And the whole premise is to live a go-giver philosophy, right? To be a go-giver, and I make. And when a grid leader launches a community around the country, we ship them the book, Right, the Go Giver. Yeah, we ship them the book because that is our heart. It’s like coming from a contribution. There’s this concept of the law of reciprocity. The law of reciprocity is how we built our business here locally, and now we show people how to do that across the country. But we ship them the Go Giver book.
Rob Chevez [00:46:41]:
It’s one of my favorite books. So I might hit you up because I’d love to have Bob on our podcast at some point. Right.
Jay Conner [00:46:48]:
He’s an amazing guest. He’s an amazing guest. I’ll get you introduced for you to Bob Berg on your show; that’d be amazing.
Rob Chevez [00:46:55]:
That would be amazing. Well, Jay, if people wanted to learn more about getting into the private lending space, I know that you’ve created some digital assets, you’ve written some books. I got like, what? How could our audience, how could the Grid Network kind of learn and deep dive? Because I know I’m interested in, you know, we, we actually started a private lending arm earlier this year, and we got a lot to learn, and obviously, you’ve been playing the game for a long time, so I want to, I selfishly want to learn more.
Jay Conner [00:47:26]:
How would I do that for your audience, Rob? The best way. And I pull back the curtain, and I hold nothing back. Oh, nothing back.
Rob Chevez [00:47:35]:
Because you’re a go-giver.
Jay Conner [00:47:36]:
I am.
Rob Chevez [00:47:37]:
Because you’re a go-getter.
Jay Conner [00:47:38]:
Yeah. I mean, it’s like, you know, I’m gonna give you everything you got. So my book that was just recently released is called where to Get the Money Now. Where to get the Money Now. And the subtitle is how and where to get money for your real estate deals without relying on traditional or hard money lenders. So it’s 20 bucks on Amazon, but don’t spend 20 bucks on Amazon. You can go to. And here’s the URL.
Jay Conner [00:48:03]:
Go. And by the way, this is not an ebook. You can’t download it. I actually physically ship it by priority mail to you, and you can pick it up at www.JayConner/Book.com. And when you order the book. And by the way, the book is free.
Jay Conner [00:48:31]:
It’s a couple of bucks to cover shipping and handling. I think it’s 6.95, something like that,t to cover shipping and handling. It actually caught. It cost me 20 bucks to get it to you. Priority mail. But anyway, as a gift, in addition to the book, there’s a little gold medallion in the upper right-hand corner of the book. And this gold medallion says two tickets to the private Money Academy conference live event. The event I put on three times a year.
Jay Conner [00:48:58]:
February, June, and October. It’s a $3,000 event, but with the book, you get two free tickets to get to the event. So if you, if you’re serious about raising a lot of private money, pick up the book, J. Conner.com forward slash book, and then do whatever you can to get to my live event. And the. And again, the live event’s free.
Rob Chevez [00:49:20]:
Jay, tell. Yeah, okay, that was my question. Tell me about the live events. Like, where do you hope? Like, where do they take place?
Jay Conner [00:49:26]:
Right here. Right here in mine and Carol Joy’s backyard. So we have most of them over here at Atlantic Beach, North Carolina, which is right across the high-rise bridge here in Atlantic Beach. Actually, this one upcoming is at the other end of the island at Emerald Isle. But the reason I have it here is for a number of reasons. Number one, I have about a dozen of our own private lenders come to the event for the attendees to network with. Right. I do a panel with private money exactly the way that I do it.
Jay Conner [00:49:59]:
You got me for three days. It’s always on a Wednesday, Thursday, or Friday. And in addition to that, I also teach all four pillars of how we do this business. Getting the money, of course, is just one piece. The first pillar is finding deals. Well, how do we find the deals before other real estate investors even know about these deals? That’s another big part of the secret sauce as to how we do the business. So how do we find the deals? I teach that at the event, obviously, funding deals. If you’re interested in rehabbing, I do four hours on rrehabbingg and we do a tour, two houses that we’ve got going on right now.
Jay Conner [00:50:37]:
And you get to see how we work with my general contractor and the other team members. Speaking of other team members at the event, I have all my team members come, and we do different sessions. I have my real estate attorney, Julie Wickyser, and we do a whole session with her. How do we do business together? And we never talk on the telephone. And she gets all my deals, all my documents done. Right. My acquisitionist, how does she negotiate with the sellers? Right. And close the deals.
Jay Conner [00:51:05]:
My realtor, Chris Latham, that I mentioned, comes, and we talk about how we do business together with our real estate agent. And again, all the team members are there. And then I teach how I sell any house in three days or less. And then, in addition to that, the third day is about automation. How do I run this business and have time to come get on Rob’s podcast here?. How do I run this? How do I run this business? And I’m in the business literally five hours, maybe a week, less than 10 hours. A week. How do you do that? Right.
Jay Conner [00:51:41]:
Well, I’m going to teach you how to dictate, delegate, and disappear.
Rob Chevez [00:51:48]:
Jay, I love it. That’s like such a good hook. Like, you know, I’m getting everybody.
Jay Conner [00:51:54]:
Oh, I love it. Dr. Benjamin Hardy.
Rob Chevez [00:51:56]:
Yeah. So, so great book.
Jay Conner [00:51:59]:
And Dan Sullivan just came out with a new one.
Rob Chevez [00:52:02]:
Really? I didn’t know that.
Jay Conner [00:52:03]:
Yeah.
Rob Chevez [00:52:06]:
I haven’t read it. I don’t know, but I, I’ll put it on my list. Well, Jay, we’re going to make sure that we get our grid network. We believe that the power isinn all the people all around you, all the relationships all around you. What you do, what you teach, is the ethos of who we are. So we appreciate you coming on to the grid fli,p and, and, and so thank you, thank you, thank you, thank you. I really appreciate it. And absolutely, we’ll make sure that we put all your social media profiles on.
Rob Chevez [00:52:35]:
We’ll make sure we get the word out, nd as always, make it a great day. Jay, thanks so much.
Jay Conner [00:52:42]:
I love it. One last thing, I’m real quick. Follow my podcast, everybody. The name of my podcast. Easy to find Private money. Imagine that. So I’m, I’m on iTunes, YouTube, just search raising private Money. Throw Jay Conner in there if you want to, and you’ll find me easily.
Jay Conner [00:53:02]:
So come hang out with me on the podcast. Rob, God bless you. Thank you so much. Life is a gift, and keep on being a go-giver.
Rob Chevez [00:53:10]:
You too, man. Thanks so much, Jay. Take care.
Jay Conner [00:53:13]:
Bye-bye.
Narrator [00:53:15]:
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.