***Guest Appearance
Credits to:
https://www.youtube.com/watch?v=-oigky-lKyo&t=3s
“How Jay Conner Raised $2,150,000 Without Banks (Private Money Secrets) | Ep 54”
https://www.youtube.com/@BiggerLifePodcast
Navigating the world of real estate investment often feels like a delicate balancing act between finding the right deals and securing funding. For many investors, the challenge isn’t just identifying promising properties—it’s having reliable sources of capital to act quickly when opportunities arise. In a recent episode of the Bigger Life podcast, industry veteran Jay Conner shared the game-changing strategies he uses to consistently fund his projects and keep his business growing, even in challenging markets.
At the heart of Jay’s approach is private money lending, a strategy he credits as having the single greatest impact on his success. The power of private money is in its flexibility and accessibility. Unlike traditional bank loans or hard money lenders—which are often restrictive and laden with fees—private money allows investors to deal directly with individuals who have idle capital. These individuals, often referred to as private lenders, benefit from higher returns on their funds, while investors like Jay gain access to capital that isn’t limited by credit scores or the bureaucratic limitations of financial institutions.
Private money is distinct from the more common syndication or hard money models. While syndications pool many investors into a fund and require compliance with SEC regulations, Jay’s approach is more personal and approachable. It’s built around one-on-one relationships where each loan is secured by a specific asset, such as a single-family home or small multi-unit property. This asset-backed debt provides security for lenders while simplifying the process for borrowers.
One major advantage of private money is the speed and freedom it provides. Jay’s business model is flexible enough to close deals in as little as seven days, an edge that has helped him win opportunities others might miss. Since shifting his acquisition strategy, Jay now sources nearly all his deals off-market, drawing motivated sellers through targeted Google and Facebook ads, as well as carefully crafted direct mail campaigns. Having capital ready to deploy means he can give sellers the fast closings they often desire, making his offers more attractive.
Jay emphasizes the importance of getting the money lined up before hunting for deals. He educates potential lenders—often people who have never heard of private lending—by hosting luncheons and workshops. By adopting a teacher’s mindset and focusing on adding value, Jay builds trust and creates genuine win-win scenarios. Many of his lenders are sourced from his personal and professional networks, but he also expands his pool through local networking groups and self-directed IRA events, where individuals are already seeking ways to deploy their retirement funds for better returns.
Automation and leveraging a skilled team are key components in scaling his business without being overwhelmed. Jay’s organization is lean but operates efficiently thanks to a combination of talented staff and technology. A dedicated acquisitionist qualifies leads, supported by a CRM that integrates every touchpoint, while an AI assistant screens and schedules calls with sellers. A project manager and bookkeeper round out the core team, leaving Jay free to focus on high-level decisions and the aspects of the business he loves.
The impact of this system speaks volumes: Jay operates with a small core team, relies on streamlined automation, and typically spends less than 10 hours per week working on his real estate business. The rest of his time is devoted to his coaching company, where he shares his methods with investors nationwide, further spreading the value of his approach.
A major lesson from Jay’s journey is the power of mindset in private money success. Rather than chasing capital with a sense of desperation, he approaches conversations with a servant’s heart—seeking to educate and solve problems for potential lenders. This perspective transforms the process from a stressful pitch into an opportunity to serve, ultimately attracting partners who are just as invested in the outcome.
For real estate investors looking to scale their business and achieve sustainable success, Jay’s approach provides a blueprint: build genuine relationships, educate and empower your network, and leverage systems and automation to amplify your impact. In doing so, private money becomes not just a source of funding but a foundation for exponential growth.
10 Discussion Questions from this Episode:
- What are the key differences between private money and hard money in real estate investing, according to Jay Conner?
- How does asset-backed debt protect private lenders, and why is this important for both the lender and investor, as discussed by Jay Conner?
- What are the major advantages of using private money over traditional bank loans for funding real estate deals, as described by Jay Conner?
- How does Jay Conner’s approach to finding off-market deals through Google ads, Facebook ads, direct mail, and outbound calling help his business?
- What are the typical exit strategies Jay Conner uses after acquiring a property, and how do these strategies affect his business model?
- What is the process for educating potential private lenders, and why is separating the conversation about the opportunity from specific deals important, according to Jay Conner?
- Can you explain the three categories Jay Conner uses to source private lenders, and how each contributes to scaling his business?
- How does Jay Conner’s team structure and CRM system enable him to manage and automate his real estate business efficiently?
- What mindset and approach does Jay Conner recommend when raising private money, and how does this influence outcomes for new investors?
- What are some actionable lessons Jay Conner shares about diagnosing seller and lender needs, and how can real estate investors apply this to their own lead generation and capital raising?
Fun facts that were revealed in the episode:
- Jay Conner has completed over $118 million in real estate transactions and has rehabbed more than 500 homes, with an impressive average of $86,000 profit per deal, all while working less than 10 hours a week thanks to a small core team and automated systems.
- A unique aspect of Jay Conner’s business is that he educates ordinary people—many of whom had never heard of private money lending or self-directed IRAs—about becoming private lenders. He does this through local luncheons featuring his attorney, CPA, and realtor, where he teaches the basics and benefits of private lending.
- Jay Conner has a family farmhouse built in 1929 that he renovated into a short-term rental. This charming Airbnb, which brought in nearly $100,000 in revenue in just one year, showcases his love of combining personal history with smart real estate investing.
Timestamps:
00:01 How private money changed everything
04:20 Explaining private money vs hard money
08:31 Choosing private lenders over banks
09:38 Buying off-market homes quickly
14:12 Short-term rental success story
16:31 Preparing investors and raising funds
22:05 Lead review and property evaluation
25:27 Hosting private money coaching events
30:04 Understanding sellers’ motivations
31:24 Using automation in the business
Connect With Jay Conner:
Private Money Academy Conference:
Free Report:
https://www.jayconner.com/MoneyReport
Join the Private Money Academy:
https://www.JayConner.com/trial/
Have you read Jay’s new book, Where to Get the Money Now?
It is available FREE (all you pay is the shipping and handling) at https://www.JayConner.com/Book
What is Private Money? Real Estate Investing with Jay Conner
http://www.JayConner.com/MoneyPodcast
Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal.
#RealEstate #RealEstateInvesting #RealEstateInvestingForBeginners #Foreclosures #FlippingHouses #PrivateMoney #RaisingPrivateMoney #JayConner
YouTube Channel
https://www.youtube.com/c/RealEstateInvestingWithJayConner
Apple Podcast:
Facebook:
https://www.facebook.com/jay.conner.marketing
Twitter:
https://twitter.com/JayConner01
Pinterest:
https://www.pinterest.com/JConner_PrivateMoneyAuthority
Automate and Delegate: Scaling Real Estate Investing with Private Money and Systems
Jay Conner [00:00:00]:
This one strategy of being able to raise private money for your real estate deals has had more of an impact on our real estate investing business than any other strategy that we’ve ever done. And when you master this way of attracting the money without ever having to ask for it, beg, sell, chase, or persuade, to where the private lenders are actually chasing you, you never miss out on a deal.
Narrator [00:00:28]:
If you’re a real estate investor and are wondering how to raise leveraged private money to make more profit on every deal, then you’re in the right place. On raising private money. We’ll speak with new and seasoned investors to dissect their deals and extract the best tips and strategies to help you get the money. Because the money comes first. Now, here’s your host, Jay Conner.
Ray Bansal [00:00:56]:
Let’s talk about private money. So private money comes into so many different ways and shapes and forms. So I know that you do it slightly differently. So, what exactly do you mean by private money? What does that structure look like for the investor?
Jay Conner [00:01:09]:
So that’s a great question. So, private money, first of all, is not hard money. So,o hard money typically is a brokerage that has gone out and raised private money for their fund. And then the hard money lender turns around and loans that money out to real estate investors. But the way I do it is I go straight to the source. So, private money is a one-on-one transaction.
Ray Bansal [00:01:45]:
Hello and welcome back to the Bigger Life podcast, where we talk to entrepreneurs, investors,s and leaders building a bigger life through bold action. I’m your host, Ray Bansal. Today, we are joined by Ray Conner, also known as the Private Money Authority. Jay has been investing in real Estate since 200 and has completed over $118 million in transactions. He has rehabbed over 500 homes and averages over $86,000 per deal. Hey Jay, how are you doing today?
Jay Conner [00:02:12]:
Hey, Ray, I’m doing great. Thank you so much for inviting me to join you here on your show to talk about my favorite topic that I’m so passionate about, a nd that’s private money for real estate. The reason I’m so excited about it is that this one strategy of being able to raise private money for your real estate deals has had more of an impact on our real estate investing business than any other strategy that we’ve ever done. And when you master this way of attracting the money without ever having to ask for it, beg, sell, chase, or persuade, to where the private lenders are actually chasing you, you never miss out on a deal. I’ve been investing in real estate since 200,3 and 2009 is when I learned about private money. And since that time, Ray, I’ve never missed out on a deal for not having the funding.
Ray Bansal [00:03:09]:
Awesome. Well, we can call you the private money machine, right? There you go.
Jay Conner [00:03:14]:
Private money machine. Private money authority. You got it.
Ray Bansal [00:03:17]:
Yeah, yeah. Profit machine. Right. So, is it an interesting time for you? 2009, right? That was interesting times when the market is not so good, and investors were scared. And you started in 2009. I mean, you were doing real estate
Jay Conner [00:03:33]:
Before then, but yeah, I started in 2003. From 2003 until January of 2009, I. The only thing I knew to do, Ray, to get my deals funded was just go to the local bank or call up the mortgage company and apply for a traditional loan. That’s all I knew to do. But everything changed in January 2009 when I was cut off from the bank.
Ray Bansal [00:03:57]:
Quickly, let’s talk about private money. So private money comes into so many different ways and shapes and forms. So when people talk about raising money, they usually talk about a fund, a syndication, or hard money loans. So I know that you do it slightly differently. So, what exactly do you mean by private money? What does that structure look like for the investor?
Jay Conner [00:04:20]:
So that’s a great question. So, private money, first of all, is not hard money. So,o hard money typically is a brokerage that has gone out and raised private money for their fund. And then the hard money lender turns around and loans that money out to real estate investors. But the way I do it is I go straight to the source. So, private money is a one-on-one transaction between the real estate investor, the borrower, and an individual, an ordinary person, just like you and me, who has what I call lazy money. They either have investment capital or they have retirement funds. And I call it lazy because it’s not working, it’s not performing as well as it could.
Jay Conner [00:05:13]:
Private money is. You’re doing business directly with that individual. Now, all of the borrowing that we do is called asset-backed debt. So each private lender, and the slang for that is called one-offs, one off. So we’ll have a private lender, maybe two or three private lenders that are funding a deal. A single-family house might be a duplex, triplex, quadplex, whatever, but that private lender gets their own promissory note. And we’re not borrowing money unsecured; we’re backing that note with a deed of trust. Here in North Carolina, most states call it a mortgage.
Jay Conner [00:05:58]:
So we’re collateralizing the note to where they had to, where the private lender has collateral, to where they just don’t have a promissory note. So if the borrower, if I don’t pay them, the property does, that’s their legal recourse, right? They get the property if I don’t pay them, which they would actually make more money in that case if we did that. But again, it’s a one-on-one transaction, and it’s asset-backed debt. That private lender is not loaning money out unsecured.
Ray Bansal [00:06:32]:
Before we go any further. So,o how is this different from syndications? Because within syndication, ns you have the same model, right? So you go to your investors, raise money for their syndication, and their syndication owns the asset underneath it. So how’s your model different from the syndication? And the second part of it is for syndication, and you have to get registered with the SEC and all that stuff. And how are you doing it without? Because I believe this does not need registration. Right, with sec. So how are you doing it? Is this even legal? Let’s put it this way.
Jay Conner [00:07:08]:
Yeah. So yeah, the SEC does not regulate asset-backed debt. So if you’re doing a syndication, you’re raising money most of the time for a fund. So the fund, I mean, it’s sort of like investing in the stock market. As you know, you got a stock certificate, but there’s no legal recourse that protects the investor when investing in a syndicated fund. So this is very different. This is not syndication. So the investor, or the private lender, I should say,y is not investing in a fund.
Jay Conner [00:07:53]:
Right. They’re not sharing any kind of equity or profit on the back end. Think of the private lender as the bank. They know exactly what the interest rate’s going to be. I’ve been paying my private lenders 8% annual percentage rate ever since February of 2009. And so they know it’s, it’s like the, the private lender sort of thinks about putting it, it’s like putting it in the bank in a certificate of deposit. They, you know what the interest rate is, you know exactly what you’re going to earn off of that investment. And that’s the way it works here in this model.
Ray Bansal [00:08:31]:
So why not bank? So if I can raise, as you said, 8% now, the interest rates are a little bit higher, but there were times when the interest rates were much lower in the market. Right. From a traditional bank. Now I understand there are products for people like us, for investors,s where you, when you cannot qualify for a traditional mortgage, you can get the DSCR loan at 80% loan to value or 90, even 85 LTV. Why private money? And maybe not why, but you know, what are the benefits of maybe going to a private lender versus going to a bank that can give me 85% LTV at a better interest rate than the private lender?
Jay Conner [00:09:13]:
Oh, sure. There are actually 20 reasons that I love private money, but I’ll give you the big ones. So first of all, there’s no limit to the number of private lenders you can have. There’s no limit to the amount of private money. If you’re doing business with the banks or mortgage companies, there’s a limit. So you can scale. Another big reason is speed. Speed to close.
Jay Conner [00:09:38]:
So all of our offers we offer that we can close within seven days. And you know, all the properties that we buy these days, ever since COVID, are directly from, for sale by owners. I haven’t found a deal in the multiple listing service in five years. But we buy all of our homes, which are called off-market. So we’ll make our offers to close in seven days. Well, those people that are occupying those properties, those houses, they can’t move out in seven days, but we’ll go ahead and close within seven days, give them half of their proceeds at closing in seven days and then whatever we agree on, they can stay in the house for free until, you know, 30 days, 60 days, whatever we agree on. And then they get the other half of their proceeds when they are out of the house. But anyway, speed to close is a big one.
Jay Conner [00:10:32]:
Access to it, I mean,n access to the money is huge. And you know, as of today, when we’re doing this show, commercial rates at the local bank for single-family houses like long-term landlord loans are more than 8% today. So I’m actually paying less. And here’s another big one. There’s no points, there’s no fees, there’s no origination fees. And the reason is there’s no broker, there’s no broker to pay. That is between the private lender and us, you know, who are borrowing it. Your credit score, your credit score has got nothing to do with how much private money you can raise.
Jay Conner [00:11:17]:
That’s because it’s a collateral-based loan. So your credit score’s got nothing to do with it. And there’s, there’s other, there’s other reasons. But those, those are the big ones right there.
Ray Bansal [00:11:29]:
So what’s your business model? So you got two pieces to it, right? So you’re raising money from private money, and then you are finding these deals,s since you said you’re not buying these deals off of MLS and you’re buying off-market. So you’re buying. What are you doing, direct mail, calls, or driving for dollars?. What’s your strategy on the deal side?
Jay Conner [00:11:52]:
Sure. So we do a lot of Google paid ads and Facebook. So I’ve got seven different vendors that I pay per lead. So I’m not paying per click on Google, I’m paying per lead. So they do all the marketing, and they just, just provide us the leads. And Facebook. I just did a deal yesterday, came in on a Facebook lead. So I run Facebook ads, or my team does every day.
Jay Conner [00:12:23]:
We also do direct mail. We direct mail to every family that is facing foreclosure and offer to put money in their pocket to help them get back on their feet. And so we serve a lot of people who are facing foreclosure, as well as pre-probate. So we do a lot of direct mail to families that have lost a loved one, so that we possibly can serve them as well. And those are the primary sources that we have for getting motivated seller leads. I’ve done a lot of outbound calling, and I’ve had services do that for me as well, which has been very, very fruitful, along with our other marketing methods.
Ray Bansal [00:13:07]:
Once you get a lead from these different sources and you qualify, you buy it. So what does usually happen? On the lending side, you have the money arranged. On this side, you already have the terms and conditions of the deal arranged. You sign the dotted line, and you bought the home. What is your usual business model from there?
Jay Conner [00:13:27]:
Yeah, so most recently in the past few years, since COVID, anyway, we’ve been renovating most of these houses and then selling them for top retail value. However, when I buy a property subject to the existing note, which means the seller agrees to leave that mortgage in their name and I make the payments, then we’ll sell those houses typically on terms, sell it on lease purchase, collect a large non refundable lease option deposit and give the lease purchase buyer or tenant buyer time to get mortgage ready to where they can cash us out.
Ray Bansal [00:14:05]:
Are you primarily into buying and selling, or are you also into holding the properties?
Jay Conner [00:14:12]:
Well,l the ones that I hold are the ones that I sell on lease purchase. So I’m not holding any. Well, I take that back. I’ve got one very, very lucrative short-term rental, Airbnb, which I know you are an expert on as well. But it’s actually my grandparents’ farmhouse that they built in 192,9 and the year before last, I did a $150,000 renovation on it, turned it into a beautiful short-term rental with beadboard ceilings, and it’s just gorgeous. And just last year,r it brought in almost $100,000 right in, in revenue just on that one. So. But typically, the houses that we’re investing in, we’re either going to flip them and sell them out for retail, or we’re going to sell them on terms, lease, purchase, and then cash out once the buyer is ready for a mortgage.
Ray Bansal [00:15:17]:
Let’s talk about two different models, right? So let’s talk on the private money side of those things first. So how are you finding your people, your lenders, your private money, lazy money people, and they can make more money on the stock market, maybe, you know.
Jay Conner [00:15:36]:
Well, that’s a great question because I’ve had 47 private lenders. You know what’s interesting? Ready. Not one of them had ever heard of private money private lending. They’d never heard of self-directed IRAs and how they can move their retirement funds over to a self-directed IRA and then become a private lender. They never heard about it until I put on my teacher hat, which says private money teacher, Private money teacher. So I view myself as leading with a servant’s heart, educating people on the opportunity. None of them had ever heard of this opportunity. So I’ve put on luncheons where I’d invite people to come to a luncheon, have 20 people or so, and have my attorney, my CPA, my realtor there and teach them the opportunity.
Jay Conner [00:16:31]:
So they all get the same thing, like how much, what’s the interest rate, 8% annual percentage rate, how are they protected, what’s the length of the note, frequency of payments, how can they get their money back in case of an emergency before the note comes due? And I teach all that. And something that’s really, really important is separating the conversation between having a deal for them to fund and the opportunity. Because if I talk about it, if I bring up a deal in the initial conversation, I’m already sounding desperate without even trying to sound desperate. You know, desperation has a smell to it. People can tell if you are. I mean, the worst time to be raising private money is when you need it for a deal. That’s why I practice and preach, the money comes first. Get the money lined up.
Jay Conner [00:17:22]:
I mean, Ray, you’ve probably heard the guru on stage say something to the effect of, ” Oh, just get the deal under contract, the money will show up.
Ray Bansal [00:17:30]:
No, yeah, I agree. I mean, the money has to be there, the deal will come, right?
Jay Conner [00:17:34]:
So yeah, and so it’s a chicken
Ray Bansal [00:17:37]:
and an egg story. Sometimes you need to have a deal, and then you’ll find that money. But I think you need to have money too.
Jay Conner [00:17:44]:
Yes. So there are three categories of where private lenders come from. There is? First, your own network, your own warm market. People in your cell phone. Right. People that are in your social circle, you go to church with them, you see them at the Rotary Club, you play golf with them, etc. There’s your professional circle, you know, who’s your CPA, who’s your attorney. These people are gatekeepers of other people who have money, and they can refer you to.
Jay Conner [00:18:18]:
And then there are. And then that’s what I call your expanded market. Well, you know, if you want to scale your business, sooner or later, you’re going to run out of your own contacts. Right. So how can you expand your network? Well, Business Networking International is a great way to do that. You join your local BNI chapter, and that whole organization is about sharing leads and each other’s members. And then the third category, where you find private lenders, is what’s called existing private lenders. These are people who are already loaning money out to real estate investors, individuals, not institutional money.
Jay Conner [00:19:03]:
And you can find these people at Self-Directed IRA networking events. Did you know that over 70% account holders at Self-Directed IRA companies want to loan money out to real estate investors? They want to be a passive investor and just get mailbox money, which is what they want to do. So those are primarily the three categories as to where you find private money.
Ray Bansal [00:19:27]:
I like that. The last one is self-directed IRA networking events. Never thought about that.
Jay Conner [00:19:32]:
Yes.
Ray Bansal [00:19:32]:
Usually, you’re thinking they are coaching you on how to set up the account, but yeah, you can use it to your advantage, where you can find the lenders. Yeah. Awesome. On the deal side, I think you mentioned you have a team. So what’s your team size looking like to qualify those deals? And with so many deals, with so many moving components, the coaching, the pitcher hat, raising the money to, sending all this direct mails and you know, finding off market deals, negotiating those deals, buying those deals, then you know, renovating it, fixing and flip, you know, and all that, how do you manage it? So how’s Jay’s day look, and what kind of teams do you have? Yeah, so walk us through that process.
Jay Conner [00:20:23]:
Sure. Well, the automation process and the system are so critically important that you can run your business instead of letting your business run you. So let me break that down as far as the people go, I have a full-time acquisitionist, her name is Kim. She’s been with us now for 18 years, and she works out of her home, and it’s her job to talk to all the sellers. She talks to all the sellers. Now, how she finds out about the sellers is critically important. And that is our software, our CRM. So all the leads, all the motivated seller leads that we get come into our CRM, and if it’s a Google Ad, they automatically go into the CRM.
Jay Conner [00:21:12]:
If they’re a Facebook ad, they automatically go into the CRM. If they respond to our direct mail. Well, guess what? The phone number on the direct mail is our AI assistant; her name is Bailey. Bailey answers the phone and identifies herself as our AI assistant, and she asks permission to ask him some questions. So that entire transcript, when Bailey answers the phone, the AI assistant, that entire transcript for that seller lead goes into the notes section of our CRM. Kim, the acquisitionist, has the job of getting him on the phone. Well, Bailey’s job is to go ahead and set the appointment. So out of every four calls that Bailey receives from our direct mail, she sets three out of four calls, an appointment, and a telephone appointment for Kim.
Jay Conner [00:22:05]:
And the AI assistant tells him to expect to get a phone call at that time, at that appointment from Kim, the acquisitionist. So then Kim gets all the information from the seller and then puts that information in the CRM. The CRM then notifies me, I’ve got a lead to review. So I go into the CRM, I look at the summary of that lead, and then I decide if I want to get one of our local realtors’ opinions on the after-repaired value. If I decide that, I then move it over to that category, and an automatic email is then sent to the realtor asking for the after-repaired value. That realtor then emails that back to me, and Kim puts that in the CRM, and then I get notified it’s time for me to review the realtor’s opinion. I review the realtor’s opinion, then I decide if I want the team to go look at the property and estimate repairs. So if I decide that looks like the numbers make sense, then I move it over in the software for the team to go look.
Jay Conner [00:23:14]:
Kim gets that notification. She then sets the appointment for our realtor and my project manager to go look at the property and estimate repairs. They estimate repairs. That’s then emailed to Kim. Kim puts it in the CRM. Now I’ve got all the information I need to make an offer right before coming on the show here with you, Ray. I made an offer on a property based on the after-repair value and the budget for the renovation. That’s all I need in order to plug into my formula what’s going to be the all-cash offer. But I make, I make, I make more than one offer.
Jay Conner [00:23:50]:
I’ll make an all-cash offer, I’ll make a subject to offer, and you know the seller can decide what they want, and so the system, the CRM. So I got Kim the acquisitionist. I have a full-time lead manager who’s in the Philippines. Her name’s Trixie. She’s been with us for seven years. And Trixie’s job is to make sure that none, none of our leads fall through the cracks. None of our leads goes unattended. So if Kim misses one of them, Trixie makes sure that Kim, you know, needs to do, you know, whatever with that lead.
Jay Conner [00:24:26]:
So the lead manager, Trixie, is my insurance policy to make sure we don’t miss any leads. And then I have a full-time office manager, her name’s Brenda, and she keeps up with the books. But that’s just not for the house-buying and selling business. That’s for you to know, for all of our businesses as well. And Everybody else is 1099. I mean, you know the contractors are 1099 and all that. So we don’t have a, we don’t have a large staff at all.
Ray Bansal [00:24:55]:
So with a full-time team of three people and then 1099.
Jay Conner [00:24:59]:
Correct.
Ray Bansal [00:25:00]:
Are you able to utilize the systems, AI, and everything else so that you’re able to work less than 10 hours a week and manage this whole ship?
Jay Conner [00:25:12]:
Yes, it’s called dictate, delegate, and disappear.
Ray Bansal [00:25:15]:
This is great. And you mentioned you have other businesses, so just curious, so Jay, with this busy lifestyle or free lifestyle, what other businesses do you enjoy?
Jay Conner [00:25:27]:
Oh, what I’m so passionate about is coaching. So I have a coaching and education company, Conner Marketing Group, that I started in 2011, and my focus is working with real estate investors, newbies, seasoned real estate investors, and I work with them on teaching and coaching them on how to raise their own private money. I do three live events a year. In fact, I got one coming up right around the corner. It’s called the private money conference, and if anybody wants to check that out, I’d love for your audience to come to the conference at www.JayConner.com/Event, that’s www.JayConner.com/Event, and we have people come from all over the nation for these events to really learn how to raise that private money.
Ray Bansal [00:26:22]:
All righty, so let’s shift to the next segment, which is kind of like lessons from the field. So what is the biggest mistake that you see that either you have made in your life that you think if you knew better, or as you’re coaching other investors, that you mostly see that people make early on in their investing journey? And this is for the people like you and me who are real estate professionals and not the private money side.
Jay Conner [00:26:53]:
Sure. So it all comes down to the mindset. So there’s a bridge between knowledge and implementation. Right. And so in this world of private money, the correct mindset is you’re not chasing money. It all comes from having an attitude of having a servant’s heart. You know, when I’m, when I’m visiting with a new potential private lender, I’m not looking to raise money out of that initial conversation. My only intention is to leave them with more value, more knowledge than they had before the conversation.
Jay Conner [00:27:28]:
And one way that I implement this servant’s heart is that I just view myself as diagnosing if they have a problem. You know, like if I, if I’m talking with you, Ray, and, and I just simply, you know, ask you a question of, well, by the way, Ray, in this market these days, are you getting a really good return on your investment either in with your liquid capital or your retirement funds? And you say, yeah, I mean, just last year I got 15% in the stock market. Well, I just diagnosed you don’t have a problem, or you don’t perceive you have a problem. So I’m not going to even talk with you about the private lending opportunity that I have. But if you sigh and say, well, yeah, I mean, my 401k is going nowhere, or I’m only earning, you know, 3% in the local bank, well, I just diagnosed you got a problem, and I might be able to offer you a solution. So it comes down to the mindset. Right. Nothing happens until you take action, and you want to.
Jay Conner [00:28:29]:
And, and, and as I said, you know, with my, with my teacher hat, I just view myself as sharing valuable information with people that can make a difference in their lives. And another thing that I discovered early on was the private lenders, these people, they need us as much, if not more than we need them. And here’s why. There’s more money out there than there are deals, to tell you the truth. And my wife, Carol, Joy, and I have received handwritten thank-you notes in the mail for being a part of changing people’s retirement years by introducing them to this world of private money. It’s all about serving. It’s the mindset. It’s the mindset.
Jay Conner [00:29:11]:
And you know, you know, and another thing that I know, new capital raisers feel is that they have a fear of rejection. And so here’s my answer to that fear. How can you be fearful of anything but rejection if you’re not asking anybody for anything? You’re not asking them, you’re giving them knowledge, you’re sharing an opportunity. And I’ve, and you don’t ever have to ask them for the money. I mean, you share the opportunity. And I’m going to give my book away, by the way, before we get off the show, where to get the money now and then the book, it shares the entire opportunity that I share with new potential private lenders. And so there is no fear of rejection because you never have to ask them for money.
Ray Bansal [00:29:54]:
The real estate investors are looking for deals off-market. And what is the one thing that you tell them to do or not to do
Jay Conner [00:30:04]:
What to do when they’re looking for off-market deals? Yeah, you want to meet, you want to meet the owner of that property, the potential seller of that property, where they are. And you can’t meet them where they are until you diagnose again, what’s their problem? Do they have a problem? And you know, my favorite question to ask a potential seller is, well, tell me about your situation. And when you say, ” Tell me about your situation, they could talk about the property, they could talk about their personal situation that they have going on. But whatever they talk about, that is their hotspot that I want to circle back around to, to be offering a solution to relieve that stress and relieve that pain. People make decisions on everything they do for one of two reasons. They either want to move towards pleasure or they want to run away from pain. And everybody that we’re talking to is trying to get out of the pain that they have. So we want to offer a solution to get them out of that pain.
Ray Bansal [00:31:10]:
You have automation, you also have a team where you are delegating the stuff, and what works better, and what breaks automation. If you have a new task, would you go for automation or would you go for delegation?
Jay Conner [00:31:24]:
So it depends on what it is. So, like when we first started using this software, we started using it probably six or seven years ago. I was very much in it, very much hands-on, because I wanted to see what that felt like and how it worked. And were there some kinks in it that needed to be worked out? And then as soon as I got totally happy with it, I delegated it out. And so now I’m only in the software once I am notified that there’s some new information about that property that I need to decide on. But the only thing that I want to be involved in for the long term is what I really, really enjoy. And that’s what automation is all about.
Jay Conner [00:32:07]:
Do what you love to do and delegate the rest. And if you’ve got a good business model, then you’re able to finance and pay your team members, pay for the marketing, etc. Without you having to be working, you know, 60 hours a week.
Ray Bansal [00:32:23]:
Interesting book that you have read?
Jay Conner [00:32:25]:
Oh yes. Yep. So the name of the book is ” Where to Get the Money. Now it’s a national bestseller. The subtitle is how and where to get money for your real estate deals without relying on traditional or hard money lenders. And the book is 20 bucks on Amazon. But don’t spend 20 bucks there. The book is free.
Jay Conner [00:32:46]:
Let me give you the book for free. Just cover a couple of bucks for shipping and handling. I’ll autograph the book, I’ll rush it out, and you can pick up the book at www.JayConner.com/Book, and I’ll rush it out to you. Three-day express delivery through the postal service. And I’m also going to include two tickets to the upcoming Private Money conference. And you can go ahead and check all that out@jconnner.com event. And so that’s the book. And in addition to that, another gift rave for your audience is that I recently wrote what’s called my Million Dollar Private Money script collection.
Jay Conner [00:33:35]:
There are 12 different scripts in the collection, and I’d love to give away the first script, which is called the Curiosity Opener script. A lot of real estate investors say how do I start a conversation about private money? And your listeners can download that first script, that PDF for free at www.jconor.com scripts, and that’s plural jconor.com scripts, and that’ll give you the PDF that you can download right there. Absolutely. For free.
Ray Bansal [00:34:08]:
Thanks, Jay. Thanks for leaving those gifts for the audience. I’m sure the audience can make very good use of it. I appreciate that. And thanks for sharing your story and how you’re doing it. You have been very candid about it. I appreciate you sharing your processes.
Jay Conner [00:34:28]:
Yes, Ray, thank you so much for having me on, and I’m so glad to share. Thank you so much.
Ray Bansal [00:34:33]:
Yeah. Well. And to our audiences, if you found value in this episode, make sure to like, subscribe, and share this conversation with someone serious about building bigger life real estate. And we’ll see you next week with another episode. Thank you.
Narrator [00:34:48]:
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.