***Guest Appearance
Credits to:
https://www.youtube.com/watch?v=HfJWsqaa-Ug
“How to Raise Private Money for Real Estate Investing | Jay Conner E33.”
https://www.youtube.com/@iamkeithandrews
If you’re a real estate investor—or aspiring to become one—you know that access to funding can make or break your deals. On the “Raising Private Money” episode with Jay Conner and Keith Andrews, listeners get an in-depth look at the strategies and mindset shifts that set successful investors apart, especially when it comes to raising private capital.
Understanding Private Money vs. Hard Money
Jay Conner, widely recognized as “The Private Money Authority,” shares his journey in real estate since 2003 and the pivotal moment that led him away from traditional financing. Like many investors, Jay started by working with local banks and mortgage companies. But in 2009, when his trusted line of credit was abruptly revoked, he realized he needed a different approach.
That’s where private money entered his world. Jay distinguishes private money from hard money—something many investors confuse. Hard money typically comes from brokers who manage a fund and add origination fees and higher interest rates on top. Private money, on the other hand, is direct: it’s a transaction between an investor and an individual lender, with no intermediary. This makes private money not only faster but also cheaper, as it eliminates costly fees.
Who Can Be a Private Money Lender?
According to Jay, nearly anyone can become a private money lender. His roster includes retired teachers, police officers, civil service workers, and even minors who have received inheritances. The core trait is having “lazy money”—capital or retirement funds sitting in low-yield accounts that could work harder elsewhere. By offering these individuals a secure way to earn a higher return, investors can build a robust network of private lenders.
Structuring Deals and Protecting Lenders
One of the significant concerns for both investors and lenders is security. Jay is clear: he never borrows unsecured funds, structuring each deal to protect the lender as much as a traditional bank would be protected. Each lender receives a promissory note and either a deed of trust or a mortgage, depending on the state. This gives them legal recourse should anything go wrong.
A typical arrangement might offer an 8% annual return, fully collateralized by the property as security. The lender is also named as mortgagee on the insurance policy and additional insured on the title insurance policy. In the rare event of an urgent need for liquidation, lenders can invoke a 90-day call option, allowing them to give notice and have their capital returned ahead of schedule. Jay’s thorough approach helps build trust and peace of mind with his private lenders.
Finding Private Lenders: Your Warm Market and Beyond
Jay emphasizes that most private lenders will come from your existing network—people you know from your local community, professional circles, and even your church or golf club. These are individuals who already trust you and may be unhappy with their current returns on savings or retirement accounts. For growth, it’s essential to expand your network, using groups like Business Networking International, SCORE, and local business organizations.
Another source of lenders is those already invested through self-directed IRA companies. Companies like these frequently host networking events where investors—who are already familiar with real estate lending—can connect with those seeking capital.
The Standard Deal: Keeping It Simple and Secure
Jay describes a standard deal as borrowing up to 75% of the after-repaired value of a property, providing ample equity cushion for the lender. Deals are always processed through a real estate attorney or title company, ensuring legality and transparency. The process is straightforward: lenders wire funds directly to the trust account, not to the investor personally, and all legal documents are drawn up by professionals. This careful structure helps prevent confusion and risk for everyone involved.
Resources and Taking Action
For those eager to dive further into the world of private money, Jay provides a wealth of resources: from his book “Where To Get The Money Now?” to scripts for starting conversations with lenders, and even live events designed to broaden investor skills and networks. Keith Andrews encourages listeners to think beyond hard money, highlighting how truly transformational private money can be in terms of speed, cost savings, and deal flow.
The core message from Jay Conner and Keith Andrews is clear: stop waiting for the perfect moment or the perfect contact. Take action, learn the system, and start creating opportunities using private money. With the right approach and the right structures in place, funding doesn’t have to be a hurdle—it can be your greatest asset as a real estate investor.
10 Discussion Questions from this Episode:
- What are the key differences between private money and hard money, according to Jay Conner, and why might a real estate investor prefer one over the other?
- How does Jay Conner suggest protecting private money lenders in real estate deals, and what legal documentation is involved?
- In what ways does Jay Conner recommend locating and attracting potential private money lenders?
- What strategies does Jay Conner use to build trust and avoid appearing desperate when discussing funding opportunities with potential lenders?
- How are private money deals typically structured in terms of loan-to-value ratios, loan terms, and repayment options?
- What are the advantages for private lenders in using self-directed IRA accounts to fund real estate investments, as outlined by Jay Conner?
- How does offering a 90-day call option in the promissory note benefit both the investor and the lender?
- What role does a real estate attorney play in private money transactions, and what are the associated costs according to Jay Conner?
- How has Jay Conner’s approach to funding deals changed since discovering private money, and what impact has it had on his business?
- What actionable steps does Jay Conner recommend for investors who want to start leveraging private money in their real estate investments?
Fun facts that were revealed in the episode:
- Super-Fast Closings:
Jay Conner revealed that using private money allows them to close real estate deals in as little as seven days, much faster than the traditional 45 days it typically takes with banks or mortgage companies. - Ordinary People as Lenders:
Contrary to popular belief, Jay Conner shared that private lenders don’t have to be wealthy elites—retired teachers, police officers, civil servants, and even minor children (via inheritance) can all be private lenders. - Get Paid to Buy Houses:
With private money, Jay Conner brings home a check at closing, using excess funds (after buying and rehabbing a property below its after-repair value) for renovations and other costs—meaning they actually get paid to buy houses.
Timestamps:
00:00 Discovering private money for real estate
04:47 Attracting and managing private lenders
08:21 Diverse private lenders explained
11:04 Using retirement funds in self-directed IRAs
15:08 Expanding your lender network
19:10 Structuring real estate financing
21:41 Managing investment promissory notes
24:04 Finding private money for real estate
27:12 Talking private money with Jay Conner
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
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Protecting Private Lenders and Structuring Profitable Real Estate Deals
Jay Conner [00:00:00]:
Also, in the promissory note, give them a 90-day call option. A 90-day call option. So that means if they’ve got any kind of emergency that comes up and they need their money back early, prior to the note coming due, then they just have to give us a 90-day notice. And that gives us plenty of time to replace their private money with another one of our private lenders, private money.
Narrator [00:00:28]:
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.
Keith Andrews [00:00:55]:
You know, you find a good deal, it’s better to go to private money because you’re going to save so much
Jay Conner [00:01:02]:
Money and private money are fast. I mean, I, I’m, I make my offers, I can close in seven days.
Keith Andrews [00:01:12]:
All right, today I have a special guest, Jay Conner. He is the private money man. So if you ever wanted to know anything about private money, how to raise it, what it is, how to use it, how the whole thing works, he’s the man. He’s been in real estate since, I think, what, 2003? Is that right, Jay?
Jay Conner [00:01:34]:
That’s right.
Keith Andrews [00:01:35]:
And he discovered private money along the way. He used to go the traditional route, and then something happened. But we’re going to let him explain that. I’m really excited to have you, Jay. Let’s start off with just sharing a little bit about you.
Jay Conner [00:01:50]:
Sure. Keith, thank you so much, first of all, for inviting me to come along and talk about my topic that I’m so passionate about, that being private money. The reason I’m so excited about private money is that this one strategy, if you’re a real estate investor, seasoned or wannabe real estate investor, when you master this system of attracting funding for your deals without ever having to ask for money like me, you’ll never miss out on a deal. When I started using private money all the way back in February of 2009, I never missed out on a deal for not having the funding. My first six years, that I was investing in single-family houses from 2003 to January of 2009, the only thing I knew to do, Keith, was go to the local bank or a mortgage company and fill out applications and provide, you know, bank statements and all that stuff and take 45 days to get funded and all that kind of stuff. Well, all that changed in January of 2009. I had two houses under contract to purchase. I thought I had a line of credit still at the local bank.
Jay Conner [00:03:07]:
I called up my banker, and I told him about my two deals. And Keith, I learned like that over the phone that my line of credit had been closed with no notice to me. So I knew I had to find a better and quicker way. Well, in less than two weeks, my definition of coincidence is God’s way of staying anonymous. In less than two weeks, I learned about private money and private lending. And in less than 90 days, I was able to attract and raise $2,150,000 in new funding. And how I went about that, in a nutshell, Keith, is I put on my teacher hat, which says private money, teacher. And I just went about sharing, first of all, with my own network people.
Jay Conner [00:03:55]:
I go to church with people in my cell phone, Rotary Club, business networking International. I just started sharing with them the opportunity. And I went about diagnosing, there’s the secret right there. I just went about diagnosing who has a problem to where they’re not happy with the rates of return that they’re getting on their money, and, you know, certificate of deposit in the local bank, a savings account, or are they sick and tired of the volatility of the stock market. And so I took on this mindset of having a servant’s heart, just looking to serve people and get them a high rate of return safely and securely. And so that’s how I went about it. That’s the mindset. No begging, no chasing, no selling, no persuading, no asking, offering this opportunity to people.
Jay Conner [00:04:47]:
And you know, I’ve got 47 private lenders, and none of them ever heard of private money or private lending or self-directed IRA accounts. They didn’t know any of that stuff until I started sharing it with them. So by taking on a servant’s heart and diagnosing who’s got a problem, that’s how I was able to attract over $2 million in funding. And another big part of the secret sauce is never talking about a deal that I need funded, or I want funded,d in the initial conversation, because now I already sound desperate. You know, desperation has got a smell to it. And if I’m talking about the opportunity and having a real estate deal for somebody to fund, I’m coming across as desperate. So we separate those conversations from sharing the opportunity, the kind of interest rate that they can earn, how they’re protected, just like the bank, etc. And then coming back and having a deal for them to fund that’s so critically important.
Keith Andrews [00:05:51]:
Okay, so how did you even get started? How did you bump into the whole private money thing in the first place? Because I think a lot of people get confused. They get confused because a lot of people know about hard money. And what is the difference between hard money and private money? Is there a difference?
Jay Conner [00:06:12]:
Big difference. So when you do a private money transaction, there’s no middle person involved, there’s no brokerage, there’s no hard money lender involved. It’s a direct one-on-one transaction between you, your company, and that individual. A private lender is an individual, a human being, just like you and me. And these are ordinary people. What we’re doing is we’re looking for lazy money. We’re not looking for rich people, we’re not looking for family offices. We’re looking for ordinary people who have got investment capital and or retirement funds.
Jay Conner [00:06:52]:
That’s lazy. It’s not working for them; it’s not getting them a high rate of return. And so a hard money lender, in contrast to that. And by the way, I’m not poo-pooing hard money. Some of my best friends are hard money lenders. In fact, they use my techniques to go out, and they go out and raise more money for their fund that the, which, in turn, lends out to real estate investors. So, a hard money lender is typically a broker that has established a fund. They have individuals like I’m talking about who invest in that fund.
Jay Conner [00:07:26]:
And then the hard money lender is the broker. They then turn around and lend that money out to real estate investors. They charge points or origination fees. That’s how they make most of their money. Well, in this world of private money, there are no origination fees. There’s no point because there’s no broker involved. So that’s the difference. Private money, you’re doing business directly with the private money lender.
Jay Conner [00:07:55]:
In contrast to a hard money lender, that’s a broker that’s already gone out and raised money from individuals that they pay out a return, but then they charge a higher interest rate and then origination fees on top of that.
Keith Andrews [00:08:11]:
And can. So you’re saying anybody can be a private money lender. You don’t have to be like an institutional investor or anything like that.
Jay Conner [00:08:21]:
Exactly. All my private lenders are just ordinary people. I’ve got retired police officers, I’ve got retired civil service workers, I’ve got retired teachers. And those are using their retirement funds. Now. Then you have all these other people who are just using their investment capital, who are not very happy with a 3% return in a local certificate of deposit. I’ve even had minor children be private lenders who got an inheritance from their grandparents, and their parents didn’t want to put it in the local bank. They wanted to get that higher rate of return.
Jay Conner [00:09:00]:
So it’s ordinary people who have got investment capital and ordinary retirement funds that they want to get a high rate of return safely and securely.
Keith Andrews [00:09:12]:
Now, when you say safely and securely, so how, how do you structure these deals?
Jay Conner [00:09:17]:
That’s a great question. So we do not borrow unsecured funds. The SEC doesn’t like that. Right. So what we do is we give our private lenders the same security and documentation that the local bank gets. So think of the private lender as the bank. So the private lender, we’re not joint venturing. They’re not getting a percentage of the profit.
Jay Conner [00:09:44]:
They’re getting a straight 8%. I’ve been paying my private lenders 8%.
Keith Andrews [00:09:50]:
Is that, is that kind of like where you’re? Is that like the place where you’re usually at? Is 8% like a standard deal? Okay.
Jay Conner [00:09:57]:
Yep. Paying them 8%. And so they know. So if they, you know, loan $100,000, they know, and that’s an annual percentage rate. They know they’re going to get 8%. So what we do is we collateralize those notes so that we’re not borrowing unsecured funds. So they’re going to get a promissory note. In addition to that, depending on the state that the property’s in, the private lender will either get a deed of trust, like here in North Carolina, or in Texas, it’s a deed of trust.
Jay Conner [00:10:28]:
Most people call it a mortgage. So that. That’s their legal recourse. I mean, if the borrower of the money, the real estate investor, if you don’t pay their private lender, do they get the property? So, actually, they make more money with that property than they would on the interest rate, but they don’t want the property. A private lender just wants to be a passive investor, a passive lender that’s just going to sit back and get a nice rate of return.
Keith Andrews [00:11:00]:
Okay. And they can do this with retirement funds as well.
Jay Conner [00:11:04]:
They can do it with retirement funds. If they have current retirement funds that they’re not happy with, the returns that they’re getting, or the volatility in the stock market, then they can transfer those funds with no tax effect, no tax consequences. They can transfer those funds to an IRS-approved self-directed IRA company. And that normally takes a couple of weeks. And once those funds are moved over there, then they can lend that money out from their self-directed IRA account, and the returns they get are either tax-free or tax-deferred, depending on the type of retirement account they’ve got.
Keith Andrews [00:11:47]:
Got it. Okay. It seems, though,h that to set all this up, do you need an attorney? Like how, how, how do you go about this? If you’re approaching investors or just the average Joe and say,” Heyy, I have this private money, ” is that how you approach this? I have a private money fund.
Jay Conner [00:12:05]:
No.
Keith Andrews [00:12:06]:
Would you like to invest?
Jay Conner [00:12:07]:
I don’t have a fund. So everything that we do in slang is called one-offs. So you have a private lender that’s loaning money on this property on this deal? Yeah, on this particular deal. So they’re going to get a promissory note. They’re going to get a deed of trust or a mortgage that this property is backing. So their note is backed by the real estate that my company is investing in. So they’re not putting their money in a fund. In fact, they never send money to me.
Jay Conner [00:12:42]:
They always wire their funds, either investment capital or retirement funds. They always wire those funds to my real estate attorney’s trust account.
Keith Andrews [00:12:52]:
Okay.
Jay Conner [00:12:52]:
Because my real estate attorney that’s going to the closing. Most states use title companies.
Keith Andrews [00:12:57]:
Yeah.
Jay Conner [00:12:57]:
If you’re in a state using a title company, your private lender would wire the funds to the title company’s trust account. But it’s your real estate attorney. So you’ve got to have a relationship with a real estate attorney. It’s your real estate attorney who draws up the closing documents. Because a private lender has no idea even what closing documents are. Promissory note, you know, so you definitely
Keith Andrews [00:13:22]:
need a real estate attorney then on each one of these deals, right?
Jay Conner [00:13:26]:
Yes.
Keith Andrews [00:13:27]:
Okay. So I think that’s key for the people that are listening, is if you want to use private money, you definitely have to have an attorney at your disposal. And how much does an attorney charge to do something like this on average? Do you know? Yeah, I know it’s different in every state, probably, but what’s the average from your experience?
Jay Conner [00:13:48]:
My attorney for each closing charges $650.
Keith Andrews [00:13:52]:
That’s not bad.
Jay Conner [00:13:53]:
No.
Keith Andrews [00:13:55]:
Yeah. So let’s go back to how you go about raising this private money, or not raising the private, but finding the private money lenders.
Jay Conner [00:14:08]:
So there are various ways. So there are three categories of where private lenders are located. Where do these people come from? So the first category is what I call your warm market. Your own connections, right? And like in your warm market, those are people that your social circle, people you go to church with, you play golf, you’re in the Rotary Club, you play poker on Thursday nights. I mean, who do you see regularly? Your co-workers? If you have a day job, who do you see regularly? Every week? That would be your professional circle. Who’s your cpa, who’s your attorney, who’s your dry cleaner? Who do you buy your car from? Think of who is an entrepreneur. Those people get it right.
Jay Conner [00:15:08]:
So that’s the first category. And they’re all in your cell phone. They’re all in your cell phone, right? These are people, you’ve already got the trust, they like you, they trust you,u and all that. You’ve already got the connection. So that’s, that’s one category, right? The second category of potential private lenders is what I call your expanded market. So if you want to scale your business and you want to do business with people that are in your connections, sooner or later, you’re going to run out of your connections. So the question is, how do you grow your connections? And so I teach and I coach real estate investors all across the nation how to expand and grow their network. Like overnight.
Jay Conner [00:15:56]:
There’s getting involved in the community, there’s business networking, international, and there’s SCORE. There are all kinds of ways that I teach how to expand your network. And then the third category of private lenders is existing private lenders. Well, where in the world do you find existing private lenders? Well, one place you find them is account holders at self-directed IRA companies. Did you know that over 70% of account holders at self-directed IRA companies want to loan the real estate investor money? They want to be a passive investor. They don’t want to go find deals, negotiate deals, or talk with sellers. They just want to be the funding source. Over 70%.
Jay Conner [00:16:50]:
Well, self-directed IRA companies have networking events on Zoom and in person. But there’s one catch. There’s one catch to that category. You’re not putting on your teacher hat and teaching those people what private money is. They already know what private money is. They are already a private lender. So guess what? Now it’s a negotiation conversation. And instead of offering the opportunity, you’re finding out what they are accustomed to getting.
Jay Conner [00:17:23]:
Some are happy at 7%, some are happy at 8%, some are happy at 12%. Well, if they’re getting 12%, I just diagnosed that they don’t have a problem. And I’m not going to be borrowing money from them because I’m not paying 12%. Right?
Keith Andrews [00:17:39]:
Yeah.
Jay Conner [00:17:39]:
So my favorite category is people that’s currently in my network and whom I grow to be in my network because now I get to share with them an opportunity and a way to get high rates of return that, in all likelihood, they have never heard of.
Keith Andrews [00:17:57]:
Can you explain to me, just a standard deal that you’ve done with a private money lender, and all the terms? Is there like a balloon after 12, 18 months? Like, how do you structure the standard deal? Let’s say you’re buying a Fixer Upper for $300,000.
Jay Conner [00:18:18]:
So here’s, so we treat all of our private lenders the same. So first of all, how do we protect them? So I’m not going to borrow more than 75% of the after-repaired value. I didn’t say 75% of the purchase price.75% of the after-repaired value. So let’s cut that ARV back down to 200,000 after it’s repaired, because it’ll make figuring a lot simpler.
Keith Andrews [00:18:46]:
Okay.
Jay Conner [00:18:47]:
I know it’s hard to find an after-repaired value house for 200,000, but it makes the. Well, let’s do 400,000. Let’s do 400,000.
Keith Andrews [00:18:55]:
Okay, let’s do 400. So I just snatched one up for 265. So they’re out there.
Jay Conner [00:19:01]:
There you go. There you go. So let’s say you got a house that you’re negotiating on. It’s got an after-repair value of 400,000.
Keith Andrews [00:19:10]:
Okay.
Jay Conner [00:19:10]:
I’m not going to borrow more. As far as structuring the deal. I’m not going to borrow more than 75% of the after-repaired value, which means I’m not going to borrow more than 300,000, but for everything. Right, but if that house needs renovation and it needs, it needs rehabbing, then I’m not, I might buy that house for $200,000. 50% of the after-repaired value. Maybe the rehab is going to be 50 or $60,000, which you know, is common these days. Yes, yes. So if I, if I’m borrowing 300,000, which is 75% of 400,000, if I buy it for 200,000, that means I’m bringing home a check at closing.
Jay Conner [00:19:58]:
There are no draws. There are no draws; there are no construction draws in this world. So I’m going to bring home what my real estate attorney on her check stub calls excess cash to close excess cash. So in that scenario, I’D bring home a $100,000 check when I bought that property. Here’s the question. Who wants to get paid to buy properties? Right. So I bring home a 100, right? You do, Keith. So I bring him $100,000 excess cash to close.
Jay Conner [00:20:28]:
Now, I’m going to use 60,000 of that money for the renovation. That still gives me an extra 40,000 that I could use for carrying costs for anything that I wanted to, right?
Keith Andrews [00:20:41]:
Yeah.
Jay Conner [00:20:42]:
But the private lender has still got a $100,000 equity cushion. That’s the difference between what I borrowed,d 300,000, and the after-repaired value of 400,000.
Keith Andrews [00:20:55]:
Yeah, yeah.
Jay Conner [00:20:56]:
How else do we protect them? Well, we name our private lenders on the insurance policy, the property and casualty insurance policy. We name them the mortgagee. Well, if you borrow money from a mortgage company or a bank, you’re naming them as the mortgagee on the insurance policy. We give our private lenders the same protection, and we name them as the mortgagee. That means if there’s ever a claim against that insurance policy, then the check is made payable to the private lender and to my company. So now the private lender’s got to sign off on that check. Another layer of protection. We also name them on the title policy as an additional insured in case there are any title issues down the road.
Jay Conner [00:21:41]:
So they’re going to get a promissory note drawn up by my attorney. Now, what’s that note look like? If they’re using liquid funds, just investment capital, the length of the note is two years. If they’re using retirement funds, the length of the note is five years. Now, the reason we do that, five years on the retirement funds, is that we just don’t flip all of our properties. I, you know, we might sell the property on lease, purchase, or rent to own,n and help that buyer get ready for a mortgage. Well, that’s going to maybe take 18 months or two years for them to get ready for a mortgage. So we just don’t want to have to keep extending the note. Plus, if the private lender does not want their money back in that retirement fund because they get it back, they’re not earning any money.
Jay Conner [00:22:31]:
So that’s the, that’s the length of the note. That’s the, that’s the loan to value. Maximuloan-to-value of 75%. And that’s how they’re protected. We also, in the promissory note, give them a 90-day call option. A 90-day call option. So that means if they’ve got any kind of emergency that comes up and they need their money back early, prior to the note coming due, then they just have to give us a 90-day notice. And that gives us plenty of time to replace their private money with another one of our private lenders, private money.
Jay Conner [00:23:11]:
So those are some of the highlights in the opportunity, the program as to how we protect our private lenders for
Keith Andrews [00:23:20]:
someone that’s just getting started in this, and they want to do something like that. You said you offer coaching programs for this?
Jay Conner [00:23:28]:
Yes, we have different levels of coaching. So I’ve, I’ve got one student who got my book, and he’s raised $13 million of private money just reading this book, my national bestseller.
Keith Andrews [00:23:42]:
Wow. Where to get the money now? Okay, I’ll put a link, I’ll put a link to that book.
Jay Conner [00:23:48]:
Yeah. And the link for this book is www.JayConner.com/Book. It’s that simple. The book’s free. Just cover shipping and handling. I’ll autograph it. I’ll rush it out to you. Three-day delivery.
Jay Conner [00:24:04]:
Where to get the money now? Jconor.com book, and then I’ve got a collection of what I call private money million-dollar scripts. So I’ve got a collection of 12 private money scripts that answer any question that a potential private lender may have. And the very first script is called the Curiosity Opener. One common question I get from real estate investors is, Jay, how do I even start a conversation? How do I even start the conversation? Well, you can download this script for free. It’s a PDF, a nd you can download it at www.JayConner.com/Scripts, and that’s plural, www.JayConner.com/Scripts, and then what people really get a benefit out of is I put on an in-person, live, a live conference. It’s called the Private Money Conference. The Private Money Conference.
Jay Conner [00:25:07]:
And it’s a three-day event. Wednesday, Thursday, Friday. I only do it three times a year. Got another one coming right up, right around the corner. But you can check out everything that’s going on at the Private Money Conference at www.JayConner.com/Event, and that’ll give you all the details for the Private Money Conference.
Keith Andrews [00:25:31]:
Nice. Everyone who’s listening, go check those links out, and I will put them underneath this podcast as well. I think this is great because I’ve been doing real estate for a While now. And I’ve done a lot of deals, and I’ve used a lot of hard money, right? And then I, you see, I do like the Burr method usually on most of my investments. So I hold them as long-term rentals after they’re fixed up, and refinance to pay off the hard money lender. And now I have, you know, a traditional loan where I’m holding the property. But even in those cases, I still have to put like 10% down.
Keith Andrews [00:26:11]:
There are a lot of other costs that go into it. You, you eat up a lot of money in the origination fees and these other things. And this sounds like, you know, you find a good deal, it’s better to go to private money because you’re going.
Jay Conner [00:26:25]:
to save so much money, and private money is fast. I mean, I make my offers, I can close in seven days. And you know, a lot of these sellers are for sale by owners. They’re still living in the house. And so I’ll close in seven days,s and they can live their rent free for whatever period of time that we agree upon, 30 days or 60 days, because, you know, time kills deals. The more time goes by, all kinds of things can go wrong. So I’ll give them 50% of their proceeds at closing, seven days down the road. When they vacate and move out, they get the balance, the other half.
Jay Conner [00:27:04]:
But what that allows you to do is go ahead and close on the deal and not let things go sideways.
Keith Andrews [00:27:12]:
Yeah, I like that a lot. So everyone that’s out there, definitely check Jay out. He’s, he’s, he’s given us a ton of knowledge. I really do appreciate you coming on here, giving us tips and tricks on private money. I know I personally got a lot of value out of this episode,e and it made me really think because, you know, I kind of know about private money is there, but I’ve never actually gone after it. And I just think like, why not? Why, why am I not leveraging private, private money? I should be. So I’m definitely going to get your boo,k, and I’m definitely going to download your script and take a look at that as well. Jay, any last words you want to give to my audience?
Jay Conner [00:27:56]:
Yes, if you’ve been thinking about taking action, don’t think anymore. Take action. I mean, you know, on this podcast with Keith, I mean, you learn a lot of information, but you know, don’t waste any more time implementing, you know, what you’re learning, right? You know, order, order, order the book, I’ll autograph it. I’ll ship it to you. Check out the live event. That script takes action. Just don’t be a consumer of knowledge. Cause nothing’s going to change.
Jay Conner [00:28:30]:
Right. Until you actually implement what you’re learning.
Keith Andrews [00:28:34]:
That’s right. All right, Jay. I appreciate you, man. Everyone out there, that’s it for today. Hope you enjoyed this episode. Please be sure to subscribe. God bless.
Narrator [00:28:48]:
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.