***Guest Appearance

Credits to:

“How to Raise Private Money WITHOUT Asking For It feat. Jay Conner | Thought Leader Spotlight”

https://www.youtube.com/watch?v=soyepl3KZ1A&t=34s

If you’re a real estate investor, you’ve undoubtedly heard that access to capital is one of the greatest challenges—and most crucial factors—in growing your business. While many investors rely on banks or hard money lenders, the world of private money offers a game-changing alternative. In a recent episode of the Raising Private Money podcast, together with Matt Kamp, Jay Conner, the Private Money Authority, who’s raised over $8.5 million from 47 private lenders, shared his strategies for raising private money without ever “asking” for it.

Whether you’re just getting started or looking to expand your real estate portfolio, here’s a breakdown of the key insights from Jay Conner’s conversation with Matt Kamp that can help you leverage private money for maximum impact.

Understanding Private Money: What Sets It Apart?

First, it’s essential to clarify what private money means—and, just as importantly, what it does not mean. In Jay Conner’s definition, private money lending is not hard money. Hard money lenders typically pool funds from private individuals and lend out of that fund, but when Jay Conner talks about private money, he’s referring to direct relationships with individual lenders—people just like you, who may want to loan money for a secured, solid return.

Private lenders often use one of two sources:

Their investment capital (personal savings or investment accounts)
Their retirement funds, often via a self-directed IRA

Unlike joint ventures or partnerships, private lenders do not take equity in your deals. Instead, they have the same legal protections as a traditional mortgage lender—their loans are secured against your real estate, not unsecured.

The Warm Market: Where to Find Private Lenders

So, where do you find these lenders? Jay Conner breaks this down into three categories:

Warm Market: People you already know—friends, family, colleagues, fellow churchgoers, social media connections.
Expanded Warm Market: Connections of your network and people you get to know through networking (the more you “wallow in money,” Jay Conner says, the more it sticks to you!).
Existing Private Lenders: Individuals already lending on other investors’ deals—which you can identify through public documents like mortgage filings or by networking at real estate events.

Your cellphone and social circles are goldmines: Every retiree, professional, or financially savvy contact could be a potential lender.

The “Teacher Hat” Approach: Educate, Don’t Beg

Jay Conner’s twist is that he’s never asked anyone to fund a deal directly; instead, he educates his network about what private lending is and what his program offers. Here’s how:

Make a List: Start with your top 50 contacts, focusing on retirees or those unhappy with stock market volatility.
Lead with “Did You Know?” Questions: For example, “Did you know there’s a way to earn unlimited tax-free income with your IRA?” This opens conversations about self-directed IRAs and private lending.
Present a Program, Not a Plea: Don’t ask for money. Teach your contact what private lending looks like, the returns, protections, and process. Position yourself as an educator.
Follow a Two-Step Process: Teach first, then (in a different conversation) call with a specific deal, stating, “I can now put your money to work on XYZ property. Here are the instructions.” This confident script ensures you never sound desperate.

Benefits of Private Money: Control and Flexibility

Why go to all this trouble? The advantages are numerous:

No credit or lengthy bank approvals: Underwriting is based on the deal’s merits.
Flexible payback: Structure no monthly payments and accrue interest.
100% financing—including renovations: Bring home a check at closing instead of putting cash in.
**Use funds for any real estate asset, including single-family, multifamily, office, and land.

Automating Your Real Estate Business

Jay Conner also delved into building and automating a lean business. Get your core team in place first (real estate attorney, realtor, home inspector, and, if needed, an appraiser), and consider hiring acquisitionists and virtual assistants trained by professionals.

The Takeaway

Raising private money is about confidence, education, and positioning. By becoming a resource and teaching your network—not selling to them—you create win-win opportunities, never have to beg for deals, and can fund unlimited growth.

Want a deeper dive? Download Jay Conner’s free “7 Reasons Why Private Money Will Skyrocket Your Real Estate Business” guide at www.JayConner.com/Moneyguide. Your first private lender could be one conversation away.

10 Discussion Questions from this Episode

How did Jay Conner’s background in manufactured housing influence his approach to real estate investing and private money?
What were the key factors that pushed Jay Conner to seek out private money, and how did he view the financial crisis as an opportunity?
Jay Conner mentions never asking anyone for money directly. What strategies does he use instead, and why do you think they’re effective?
How does the concept of “putting on your teacher hat” transform the private money conversation, according to Jay Conner?
What role do self-directed IRAs play in raising private money, and why are they significant for both investors and lenders?
Compare and contrast private lenders and hard money lenders as explained by Jay Conner. What makes their approaches and relationships different?
Matt Kamp and Jay Conner discuss automation in real estate investing. What team members and systems does Jay Conner recommend to automate and scale a business?
In the process of engaging private lenders, Jay Conner emphasizes separating the teaching from the pitch. Why is this distinction important?
What documents and protections are essential for both investors and private lenders during a typical transaction, as described in the episode?
Based on Jay Conner’s experience, what are the most common mistakes new real estate investors make when trying to raise private money or automate their business, and how can they be avoided?

Fun facts that were revealed in the episode:

No Asking, Just Teaching: Jay Conner has never asked anyone directly for money to fund his deals. Instead, he educates his network about private lending and lets opportunities present themselves, using what he calls his “teacher hat” approach.
Zero Missed Opportunities: Since discovering private money in 2009 after his traditional funding dried up, Jay Conner has never missed out on a real estate deal due to a lack of funds.
Automated Success: Jay Conner nets over seven figures annually while spending only about five hours per week on his real estate business, thanks to automating and delegating nearly every aspect of his operations.

Timestamps:

00:00 Introducing Jay Conner, Real Estate Expert

05:28 Finding and landing your first deal

07:00 Explaining private lending basics

12:38 Discussing unlimited tax-free earnings

14:31 New investor phone call script

17:51 Insurance and private lending benefits

21:20 Real estate team essentials

24:14 Automating with virtual assistants

27:34 Free private money guide download

Connect With Jay Conner:

Private Money Academy Conference:

https://www.JaysLiveEvent.com

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:

https://podcasts.apple.com/us/podcast/private-money-academy-real-estate-investing-with-jay/id1377723034

Facebook:

https://www.facebook.com/jay.conner.marketing

Twitter:

https://twitter.com/JayConner01

Pinterest:

https://www.pinterest.com/JConner_PrivateMoneyAuthority

How Jay Conner Attracts Millions in Private Money Without Ever Asking for It

Jay Conner [00:00:00]:

I get the question all the time, Jay. How in the world do you have eight and a half million dollars of private money at your disposal? 47 private lenders. How do you have that? And you say you’ve never asked anybody for money, and I haven’t. That’s the mind. I’ve never asked anybody for money. They say, Well, how do you get it? Here’s the answer. Put on your teacher hat.

Narrator [00:00:22]:

If you’re a real estate investor and are wondering how to raise and leverage private money to make more profit on every deal, then you’re in the right place. On raising private money, we’ll speak with new and seasoned investors to dissect their deals and extract the best tips and strategies to help you get the money, because the money comes first. Now, here’s your host, Jay Conner.

Matt Kamp [00:00:55]:

Jay, thank you for joining me for our Thought Leaders Spotlight series. I’m your host over here, head of partnerships, Matt Kamp, with DealMachine. And welcome to this. We really like to shine an industry spotlight on experts like yourself, hear your inspiring stories, and really help you educate our audience on the lessons you’ve learned over the years. So really, really excited today to welcome the one and only Jay Conner, real estate investor for 20 years now, rehabbed over 450 houses, involved in over $50 million in real estate transactions, national speaker, author on, you know, raising private money, business automation, all kinds of topics like that. And then you yourself, you’ve built your business where you can have, you know, really built automation around it and only have to spend like 10 hours a week. And on the real estate side if you, if you want to. So, Jay, plenty to dig into there. Really appreciate you coming on today.

Jay Conner [00:01:43]:

Absolutely. Matt, thank you so much for inviting me to come on to talk about my favorite subject that I’m most passionate about, and that’s private money for real estate.

Matt Kamp [00:01:54]:

Oh, yeah.

Jay Conner [00:01:54]:

Yeah.

Matt Kamp [00:01:55]:

That’s what I really want to dig into today, like how to, how to raise private money without asking for it. You’re truly a master at that. So, as you know, before we get into that, could you even talk to our audience? Because we do have a lot of newbies kind of getting started on their real estate journey. Can you talk through what that was like for you and how you got into real estate like that?

Jay Conner [00:02:13]:

Absolutely. So I was actually raised in the business of helping families own affordable housing. So I was raised in the manufactured housing industry, also known as mobile homes, or way back when they used to call them trailers. Right. And so anyway, in 2003, is when Carol Joy and I went live, went full-time. We went full-time investing in single-family houses, but leading up to that, for many years, in the manufactured housing business. Well, in 2002, 2000, or the first part of 2003, all the retail financing went away for the product of mobile homes. So I knew if I ever got out of the manufactured housing business, I wanted to get into investing in single-family houses.

Jay Conner [00:03:03]:

And so that’s what we did. So the first six years, Matt, that we were in the business, all I knew to do to fund our deals was go to the local bank, borrow money, or go to mortgage companies. And that’s how we funded our deals for the first six years. And then in January of 2009, after being in the business for six years, I called up my banker, and I had two houses under contract to fund. And I learned very quickly, Matt, that my funding had been closed. I mean, I had no line of credit. Well, I didn’t know there was a global financial crisis going on at the time until now. I got a crisis going on, and I couldn’t fund my deals.

Jay Conner [00:03:48]:

And so I learned about private money very, very quickly. I never heard of private money until I needed it. And, you know, it’s funny how that works, Matt. I mean, the growth and the exponential growth take place when you have problems going on. Right. I mean, you know, COVID came along, and along with COVID, look how much opportunity came along with that as well. And so I learned about private money. I’ve raised over $2 million in less than 90 days when I lost my funding at the bank.

Jay Conner [00:04:18]:

And since that time, I’ve never missed out on a deal for not having the funding for my real estate deals.

Matt Kamp [00:04:25]:

Yeah, that’s inspiring. I mean, you’re absolutely right. When you’ve got your back against the wall, a lot of times that’s when you’re. You’re going to learn the most and, you know, be able to kind of take. Take your own personal game to the next level. So.

Jay Conner [00:04:37]:

Well, you know, if it hadn’t been for that experience, Matt, you and I wouldn’t be visiting here, you know, on the Deal Machine show.

Matt Kamp [00:04:45]:

Absolutely.

Jay Conner [00:04:46]:

Because, you know, I didn’t become an expert in private money until I was in a situation that forced me to either either had to quit or I had to find a better way. And quitting wasn’t an option for me. So, you know, I came up with a mantra that day when I lost my line of credit at the bank, and I was talking to my banker on the phone. And that mantra was, you can’t fail until you choose to quit. And so yeah, that was the biggest- that situation in that scenario was the biggest blessing in disguise at the time that it happened.

Matt Kamp [00:05:28]:

Yeah, that mantra really resonates with our audience as well because I mean, we’re really trying to preach to people as well, like, hey, to go find your first dealer or your next deal. It’s a numbers game. And so many people, they, you know, it’s going to take, you know, they might get lucky, and you know, get right place, right time. One of the, you know, first batch of leads they reach out to might, might be that deal. But a lot of people, it is a little bit of a grind there trying to put in that hard work and that hustle and get out there and try to talk to sellers, and you know, you never know when that next conversation is going to happen. That can be that first deal. So really, like you said, hey, you’re, you know, you don’t, you don’t lose until you quit. Right?

Jay Conner [00:06:02]:

So that’s right.

Matt Kamp [00:06:04]:

Yeah. Well, private money, as you said, I mean, you are, you know, truly one of the world’s experts in this niche. I would love to hear a deep dive on this subject. So, can you maybe start by defining private money? You know, what are some advantages of it? Like, why would you consider, you know, going with that as an investor? Can you, can you kind of talk through just some of the basics there for us?

Jay Conner [00:06:26]:

Sure. So I’m glad you- I’m glad we’re starting with what is my definition of private money or a private lender. So I’m not talking about hard money brokers. Now. I’ve got some great friends who have hard money brokerages that real estate investors borrow money from. But in this world of private money, I’m not talking about that. You see, with hard money brokerage, what the hard money lender has done is they create a fund. They go out and raise money from private lenders who invest in the fund to get a return.

Jay Conner [00:07:00]:

Well, those private lenders that are investing in a hard money lender fund, those are the people I’m talking about, actually doing direct business with. So, a private lender is a human being who, just like you or me, loans their money from either their investment capital or their retirement funds. There’s a writer downer right there. I’d never heard about self-directed IRAs until I lost my line of credit at the bank as well. And so you know, there an actual item for A new real estate investor that’s wanting to raise private money is establish a relationship with a self directed IRA company so that when you’re talking with someone about potentially being a private lender and they have retirement funds and they’re not happy with their rate of returns, then you can introduce them to your self directed IRA company representative, they can transfer their funds over penalty free, tax free, and, and invest in your real estate deals. So yeah, a private lender is just an individual that’s loaning money from their investment capital, and/or their retirement funds to us, the real estate investor. So the private lender does not own any of the properties. Right.

Jay Conner [00:08:17]:

This is not joint venturing. Right, this is not joint venturing. The private lender acts in the same capacity as a bank or our traditional mortgage lender would, and they get the same protection as a lender would as well, such as, you know, we’re not borrowing unsecured funds. The notes are collateralized by the real estate that we’re buying.

Matt Kamp [00:08:41]:

Love it. Yeah. Can you maybe talk through what that initial conversation with kind of that private lender might look like? Like, why would they be interested in this deal, and kind of how do you approach it, you know, as on the investor side?

Jay Conner [00:08:54]:

Sure. Well, let me start with the different categories of private lenders. Like, where are these people? Like, where are they? Like, where do you find these people? Well, there are three primary categories, and I call these categories of private lenders. Number one, your warm market. Those are people that you’ve got some kind of relationship with, some kind of influence, some kind of connection. The second category is what I call your expanded warm market. You know, sometimes people say, ” Well, Jay, I don’t have a very big network. Well, I teach you how to grow your network.

Jay Conner [00:09:27]:

I say, the more money you wallow in, the more money sticks to you. So expand your network because your network is in direct correlation with your net worth. The third category of private lenders is what we call existing private lenders. Those are individuals who are already loaning money out to real estate investors. So the question is, where do you find those people? So if I may, Matt, let me go back to the first category, your own warm market. Well, my wife Carol, Joy, and I have 47 private lenders right now, individuals that are investing in our deals, loaning us money. They don’t get any profit from the deal. They just get a straight return on their investment, just like the bank would.

Jay Conner [00:10:12]:

Right. So these people, you know, when I lost my lines of credit back in 2009. Like I was saying, what did I do? How do you know? How do you, how do you approach these people? Well, first, Matt, we need to start with our mindset. Okay? The mindset is put like, I get, I get the question all the time, Jay, how in the world do you have eight and a half million dollars of private money at your disposal? 47 private lenders. How do you have that? And you say you’ve never asked anybody for money. And I haven’t. That’s the mind. I’ve never asked anybody for money.

Jay Conner [00:10:54]:

They say, ” Well, how do you get it? Here’s the answer. Put on your teacher hat. You are a teacher. Now, this relates directly to your war market. People with whom you have some kind of association. So what I mean by putting on your teacher hat is you teach people in your network; they’re in your cell phone. Family, friends, who do you go to church with, who’s in the Rotary Club? Again, if they’re, if you got a contact in your cell phone, they are a potential private lender. How about your social, social media networks, your Facebook friends? And I’m not talking about your fake Facebook friends.

Jay Conner [00:11:33]:

I’m talking about people that you actually know. You know, your Instagram connections. All right, so you, first of all, here’s the first step in the warm market. First of all, make your list. Make your list. And I say, make your top 50 list. You say, well, Jay, who should go on my list that I’m going to contact? Oh, by the way, Matt, the worst time in the world to be attracting and raising private money is when you need it for a deal. That’s the worst time to be raising private money.

Jay Conner [00:12:04]:

So anyway, make your list. Well, who should be on your list? Well, every person that you know that’s retired should be on your list because there’s a good chance a retired person has got retirement funds, you know, lying around. And my lands. How about the volatility in the stock market over the last, you know, year? A few months. Crazy. They’re looking for a reliable, steady return. Make your list out of your contacts. Then what are you going to do? How do you start a conversation with someone, and I tell you what I love? Did you know? Questions.

Jay Conner [00:12:38]:

Did you know? Questions. One of my favorite did you know questions is when you’re talking with anyone: did you know there’s a way people can earn unlimited money per year, tax-free? And of course, they’re not going to know the answer to that question. Well, the answer to the question is that if someone’s got a Roth IRA and they transfer it over to a self-directed IRA company. There’s no limit to the money they can earn per year, and that’s tax-free. Regardless of the retirement account they’ve got, they’re going to earn it at least tax-deferred, right? So that leads into a conversation about private money, self-directed IRAs, et cetera. So how do I get funding without ever asking anybody for money? As I just said, put on your teacher hat. Well, what are you going to teach them? You’re going to teach them what private money is, and you’re going to teach them your private lending program.

Jay Conner [00:13:33]:

You see, the old traditional way of borrowing money is you go to the bank, you get on your hands and knees, you put your hands underneath your chin,n and you go, please fund my deal. Please fund my deal. That’s not this world. That is not this world. We’re not asking somebody to fund the mortgage; we’re offering a mortgage. So you teach a program. You say, well, Jay, I don’t have a private lending program. Well, just duplicate mine and don’t worry, I’m going to give you mine before Matt shuts down this show.

Jay Conner [00:14:05]:

I’m going to give you my private lending program. What’s the interest rate, you know, that I give them? How can they get their money back in 90 days or whatever? So I teach them. So Matt, let’s say you’re one of my new private lenders. I’ve taught you my private lending program. You see, what I love about private money is that you make the rules. The bank ain’t making the rules. The lender’s not making the rules. It’s your program that you’re teaching and that you’re offering.

Jay Conner [00:14:31]:

And so, Matt, let’s say you’re a new private lender with me. And let’s say you got $250,000 that you want to invest with me. Well, here’s exactly the script. I’m going to give the script right now as to exactly what I say when I pick up the phone. Actually, we still have landlines here in North Carolina with handsets. Can you believe that? So Matt’s my new private lender, and I call him up, and here’s the script. I say, Matt, I’ve got great news for you. I can now put your money to work.

Jay Conner [00:15:05]:

I’ve got a house over here in Newport with an after-repair value of $200,000. The funding required is 150,000. Now, side note, I already know Matt’s got 150,000. He already told me. You see, I didn’t pitch him a deal in the same conversation as teaching in my private lending program. Never do that because you sound like you’re begging. Even if you don’t, you don’t want to sound like you’re begging. So I call up Map.

Jay Conner [00:15:30]:

I got a house in Newport, 200. I got great news. After the repair value of $200,000, the funding required for this deal is 150,000. Closing is next Friday. I need you to wire your funds to my real estate attorney by next Thursday. I’m going to have my attorney email you the wiring instructions. End of conversation. The most stupid thing, the most stupid thing I could do, Matt, is ask you if you want to fund the deal.

Jay Conner [00:15:57]:

Well, of course, you want to fund the deal. You’ve been waiting for the phone call, particularly if you’re using your retirement funds. And I introduced myself to you, the IRA representative, and you’ve already moved your money over. You’re waiting for the phone call for me to put your funds to work. So again, you see that whole positioning: I’m not chasing, I’m not begging, I’m not selling. Separate the act. I teach you the private lending program. I teach you what private money is.

Jay Conner [00:16:25]:

I teach you about self-directed IRAs, and you say, great, love it, let’s go. Right. I don’t even ask you if you want to get involved. I mean, you’re going to want to get involved. Where else can you get these kinds of high rates of return safely and securely? I call you up, and I tell you it’s now time to go.

Matt Kamp [00:16:42]:

That’s amazing. And when you actually close on that deal, you know, what are the documents like, what are the, what’s the paperwork look like to be able to execute on a deal like that?

Jay Conner [00:16:52]:

Sure. So it’s very, very simple. The closing documents are about that thick. I mean, I’m like, it’s like less than a quarter of an inch thick. Here are the documents. You have a promissory note, which is very, very- by the way, these documents are prepared by your real estate attorney, regardless of the state in which you are doing business. So you got the promissory note. Very, very simple. That just lays out who’s the borrower, who’s the lender, what’s the interest rate, principal loan amount, frequency of payments, etc.

Jay Conner [00:17:26]:

And that document is no more than a page and a half long. And then you have either the deed of trust or the mortgage. Depends on the state in which you’re doing business. It’s the same thing. It is the document that collateralizes that note and protects the private lender. We are not borrowing unsecured funds. We’re going to protect the lender. And then of course, you have the insurance policy.

Jay Conner [00:17:51]:

And on the insurance policy, the private lender is named as the mortgagee, which protects the lender. Because anytime that you would put a claim against that insurance policy, the check’s going to be made payable to the lender, and you are therefore protecting the lender. And we’re also going to name the private lender on the title insurance policy as an additional insured on that policy. So those are the documents. But you know, Matt, a minute ago you asked me, and I didn’t answer. What is it that I love about private money, and what makes it so different from borrowing from the bank? Right? Oh, my lands, Matt, the list is so long. Number one, I never take any of my own money to closing. I get a check; I bring home a check every time I buy.

Jay Conner [00:18:38]:

Right. Well, the old way of borrowing money is I had to take the money to the closing table. My favorite phrase on my real estate attorney’s check stub is excess cash to close. And I love me some excess cash, right? So I bring home a check. My credit scores have nothing to do with it. There’s no application process at all. I get multiple checks on every transaction. We can structure deals so that we make no monthly payments and just let the interest accrue.

Jay Conner [00:19:08]:

I mean, my land, you think that’ll help you cash flow, bring home a big check when you buy. Because I borrow more than I need to buy. And by the way, private money is not only for rehabbing. Private money is when the seller requires all the cash, which is the case in the majority of cases. So using private money puts you in the driver’s seat of your business.

Matt Kamp [00:19:30]:

Yeah, I was kind of going, I mean, you touched on it a little bit there. But I was going to ask, are there any limitations to the types of deals that you’re. Are you done with this private money?

Jay Conner [00:19:39]:

Sy, you can use private money on any kind of real estate: single-family houses, or any kind of commercial, self-storage apartments. Right. I’ve got a friend who has an office building all funded with private money. So any kind of real estate, land, if you’re just doing land, you can use private money for your land deals as well.

Matt Kamp [00:20:03]:

Awesome. Love it. This is a phenomenal crash course. I really appreciate this, Jay. The other piece I was going to ask you about as well. I know you, you know, when it comes to business automation, that’s a subject that you are passionate about and have clearly, you know, practiced and executed to a very skillful degree. Can you maybe talk through that as well? You know, for somebody who, you know, maybe their, their real estate, they’re, you know, they’re newer, but they’re starting to get some traction. They’re starting to grow a little bit.

Matt Kamp [00:20:31]:

You know, how can they think through where to start when it comes to, you know, automation and, and you know, the process and kind of playbook that you think through?

Jay Conner [00:20:40]:

Sure. Well, the first step in automation is getting your team in place. Getting your team in place. So,o who are the team members that you need in order to have a relationship with? And until you have these team members, you’re really not in business. You know, as I said, the worst time in the world to be attracting and raising private money is when you need it for a deal. Well, I’ll tell you another example of that. The worst time to be looking for a real estate attorney is when you’ve got a deal that you want your real estate attorney to take care of for you. Right? So you want to get these team members in place who will automate your business.

Jay Conner [00:21:20]:

So let me give you the team members. So this is a writer-downer. The team members to get started are, number one, the real estate attorney. And I don’t care if you’re in a state such as California and a bunch of others that use title companies or escrow companies to close; you’re going to need your real estate attorney to prepare the closing documents. Because a title company has no idea how to prepare closing documents. They have closing packages sent to them, and then they close the deal. So, real estate attorney, you’ve got to have that relationship. My real estate attorney checks all my titles before I make an offer on a house or before I close, to make sure it’s, you know, free of liens, etc.

Jay Conner [00:22:03]:

So your real estate attorney relationship is critical. Secondly, Realtor, you’ve got to have a relationship with a realtor. And what are you going to do with that realtor? Well, your realtor is going to check all of your comps and give you your comparable market analysis. I get all of mine within 24 business hours. I make all of my offers on properties that are in the MLS through this same realtor. Right? It’s all about the relationship. If I’m buying a bank-owned property, I’m not going to make my offer through the listing agent. I’m going to make my offer through my realtor that I’ve got a relationship with because the seller is going to be paying the realtor anyway.

Jay Conner [00:22:45]:

So your realtor relationship is critical. And then thirdly, you have your real estate attorney, you have your realtor. And then thirdly, if you’re going to be buying properties that need any kind of renovations, then you definitely want to have a home inspector; get that done before you close. And if it’s a really, really high-end property, I want a relationship with an appraiser. So automation, first of all, is getting your team members in place. Now, once you get your business up and running, if you really want to automate your business, I mean, Matt, I’m blessed to net over seven figures a year. And I’m in this business, actually working in this business, maybe five hours a week. Maybe five hours a week.

Jay Conner [00:23:32]:

It’s because of the team. So a critical part of my team that really automates this business for me is my acquisitionist. My acquisitionist has been with me for 15 years now. I make all the decisions on what properties I want to invest in and how much I want to offer. But my acquisitionist does all the communicating with the sellers, right? I haven’t talked with a seller in years. And since I sell some homes on rent-to-own as well, my acquisitionist also serves and communicates with our potential rent-to-own buyers. So acquisitionist is huge.

Jay Conner [00:24:14]:

So, you know, one problem that I see with new real estate investors is that when they get in, they don’t get out of their own way. So if you really want to automate your business and work towards the end of only doing what you enjoy doing and getting out of the way, right? You know, one question I was asked on a show recently, Matt, was, well, Jay, what should real estate investors do less of? I said about 90% of what they’re doing,g they should do less of. So get to the point of doing what you only love to do, and that you’re good at, and automate the rest. How do I automate virtual assistants? Virtual assistants are very, very important in automating the business. I have virtual assistants who do nothing but my Facebook ads. I have another virtual assistant who does nothing but my Google Pay-Per-Click ad. And then finally, Matt, how do you automate your business? You can’t run this business on paper, right? You, you got to have a great CRM, a customer relationship management program.

Jay Conner [00:25:25]:

And so where all of your leads, your seller leads, go into the CR, or where you’re entitled. Your entire team can see where we are in the process on that lead.

Matt Kamp [00:25:38]:

Yeah. And when you, when you have your team in place and you, you know, you’re, you have the VAs in place as well. Do you have any tips or advice there on how to really train up and build systems and processes for them to execute, and you know, through your years of doing this?

Jay Conner [00:25:52]:

Absolutely. And I know this from experience. So when you’re looking to hire a virtual assistant for your real estate business, go to a company that that’s what they do. Go to a company that has virtual assistants that they train in this space of seller leads, and the CRM, the CRM that you use. You want to make sure the virtual assistant company can integrate with the customer relationship management software that you’re using. So don’t just put a Craigslist ad out there, or just don’t post on Facebook. I say go to the experts who have already got this training in place.

Matt Kamp [00:26:38]:

Love it. Yeah. And I mean, I love your answers. Hey, how do you automate and delegate more? Well, go to the experts and automate and delegate to them, you know, so I think that’s a good mindset on how to approach the entire business.

Jay Conner [00:26:51]:

But yeah, well, here’s the boiled-down answer on how to automate and delegate. So delegates disappear, show back up. So it’s first dictate delegate disappear, but don’t let it run on automatic. You gotta have accountability points in place to make sure people are doing their job.

Jay Conner [00:27:13]:

Love it.

Matt Kamp [00:27:15]:

Jay, this has been awesome. I really, again, really, really appreciate you taking time out to educate our audience, for really running them through, especially the private money piece too, of how to approach that, you know, you know, even as a newer investor, you kind of hinted at a couple of resources there. Is there anything you can share with our audience on the private money side? Is it the takeaway?

Jay Conner [00:27:34]:

Absolutely. Matt. I’ve got a gift, absolutely free for your viewers, and that is I have got my private money guide that you can download,d and it’s called 7 reasons why private money will skyrocket your real estate business and help you build incredible wealth. You can download it at www.JayConner.com/MoneyGuide, and I’m an ER, by the way, not an OR. So you can download it at www.JayConner.com/MoneyGuide. www.JayConner.com/MoneyGuide. This will get you on the fast track to getting all the private money that you need and want for your deals.

Matt Kamp [00:28:20]:

Fantastic. So we’ll make sure to link to that below here. We’ll also link to our resources. We’ve got some resources on scaling your real estate business, and things like that will link to as well. But Jay, thank you so much. Again, really enjoyed the conversation.

Jay Conner [00:28:33]:

Matt, thank you. Thanks for having me on.

Matt Kamp [00:28:35]:

Yeah. And to everyone watching, this is Matt Kamp over here with DealMachine and Happy Deal Finding.

Narrator [00:28:41]:

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.

Episode 394: How Jay Conner Attracts Millions in Private Money Without Ever Asking for It