Credits to:
https://www.youtube.com/live/LiLbmB1HvgA
“How To Use Private Money To Build Your Empire With Jay Conner”
https://www.youtube.com/@verticalmomentumresiliencypod
If you’ve ever dreamed of investing in real estate—but felt held back by traditional bank loans, poor credit, or lack of cash—this episode of the Raising Private Money podcast, featuring Jay Conner on Richard Kaufman’s Vertical Momentum, is essential listening. It explains how mastering Private Money can revolutionize your real estate journey, allowing you to close deals fast, scale your business, and reduce reliance on banks or hard money lenders.
The Turning Point: When Banks Say “No,” Opportunity Says “Yes”
Jay Conner, known as the Private Money Authority, recounts a pivotal moment from 2009. After having funded deals through banks and mortgage companies for years, his line of credit was suddenly cut, right in the middle of two lucrative deals with six figures in potential profit. The lesson? The world of real estate is unpredictable, and even established investors can be blindsided by changing bank policies or economic downturns. But as Jay emphasizes, every problem has a solution—if you know who to ask.
The Power of Who You Know
Reflecting on his own experience, Jay shares that it wasn’t about “how” to solve the problem, but “who.” By reaching out to his network, he discovered Private Money and self-directed IRAs—vehicles for raising fast funding from individuals rather than institutions. This revelation led him to raise over $2 million in just 90 days, saving his deals and launching a new, resilient approach to real estate investing.
He underscores the importance of relationships: It’s not a cold sales pitch to strangers, but an educational opportunity for friends, fellow church members, and professional contacts. By wearing his “teacher hat,” he shows regular people how they can earn high, safe returns on funds they already have—in many cases, from retirement accounts they may not even realize are eligible for real estate investment.
Why Private Money Beats Hard Money—Every Time
Many new investors are told to just “get the deal, and the money will show up.” Jay cautions against this thinking. Instead, he advocates lining up your Private Money commitments before you find deals. This allows you to make offers swiftly and confidently, sometimes closing in as little as seven days, well ahead of the timelines banks or traditional lenders can offer. In hot markets or competitive bidding environments, this speed can make all the difference.
Private Money isn’t hard money. There’s no need to pay exorbitant points or take on burdensome terms. You make the rules with Private Money, setting rates and structures that work for both parties. Most importantly, you don’t apply for loans; your private lenders already trust and support you because of the relationships you’ve built.
Building and Expanding Your Network
What happens when you run out of contacts? Jay suggests leveraging organizations like Business Networking International (BNI) to continue expanding your circle and meeting new potential lenders. The approach is always the same: focus on service, education, and relationship-building, rather than chasing money.
He even offers a free script—the “Curiosity Opener”—to help new investors start these conversations with their network.
Automate, Delegate, and Succeed
Through smart systems and automation, Jay has boiled down his active real estate investing work to less than 10 hours a week. The bulk of his time is now spent teaching others, sharing the message that you can fund deals, flip houses, or grow a rental portfolio without ever being at the mercy of the big banks.
Take Your First Step
If you’re serious about investing in real estate, start by educating yourself on Private Money. Download Jay’s free guide, check out his national bestselling book “Where to Get the Money Now,” or tune in to his “Raising Private Money” podcast for inspiration and practical tips.
Remember: The most successful deals, and the best relationships, are built on trust, education, and mutual prosperity—not desperation or a scramble for funding at the last minute. Master Private Money, and change the trajectory of your real estate investing forever.
For more tools and actionable scripts on Raising Private Money, visit www.JayConner.com/Scripts and see how you can get started today.
10 Discussion Questions from this Episode
- How did the 2009 financial crisis impact the speaker’s approach to real estate investing and funding deals?
- What are the main benefits of using Private Money over traditional bank financing for real estate investors?
- Why is it advantageous to line up Private Money before securing a real estate deal, rather than seeking funding after finding a property?
- How does relationship-building play a role in successfully raising Private Money for real estate investments?
- What is a self-directed IRA, and how can it be leveraged for private real estate lending?
- What strategies were discussed for expanding your network to grow your access to private lenders?
- In what ways did the guest suggest starting conversations about Private Money without sounding salesy or desperate?
- How does the concept of “servant leadership” and serving others influence the way one raises Private Money?
- What logistical relationships (beyond just with lenders) are necessary to close real estate deals quickly, as described in the episode?
- In what ways did the speaker’s faith and personal values influence his approach to business and helping others succeed?
Fun facts that were revealed in the episode:
- Lightning-Fast Closings
It’s possible to close on a real estate deal in as little as 7 days—or even less! One story shared involved lining up closings for three properties within just 48 hours, all thanks to strong relationships with private lenders and a trusty real estate attorney next door. - No Banks Needed
After being cut off from bank funding during the 2009 financial crisis, Private Money became the go-to strategy—resulting in never missing a real estate deal for lack of funding again. In less than 90 days, $2,150,000 was raised from regular connections without pitching a single deal. - Self-Directed IRAs: Secret Weapon
Most of the 48 individuals who funded deals had never heard of private lending or self-directed IRAs until they were taught about it. These accounts let people invest their retirement funds directly into real estate as private lenders—sometimes earning tax-deferred or tax-free returns.
Timestamps:
00:00 Balancing real estate and coaching
05:16 Credit line unexpectedly closed
08:08 Learning about Private Money
11:21 Securing funds for real estate deals
14:07 Growing your network with BNI
17:50 Discussing private lending program
21:46 Investment strategy basics
25:14 Investing in real estate with IRA
28:06 Managing private lender funds
32:32 Podcast and book on Private Money
35:28 Overview of The Success Principles
37:46 Downloading the free money guide
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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Scaling Your Real Estate Business with Private Money and Self-Directed IRAs
Jay Conner [00:00:00]:
When I started using Private Money all the way back in February of 2009, since that time, I’ve never, never missed out on a real estate deal for not having the money to be able to close in 7 days.
Narrator [00:00:17]:
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.
Richard Kaufman [00:00:45]:
Hey guys, welcome back to Vertical Momentum. I’m your host, Richard Kaufman, also known as the Comeback Coach. Guys, if you’ve ever wanted to buy real estate but didn’t want to have to battle with a bank, this is the episode for you. My brother Jay is going to be dropping some serious knowledge bombs about how to use Private Money to buy real estate. He is known as the Private Money Authority. He is changing the game of real estate. I’m so grateful to have him on the show. Beverly, thank you for putting us together.
Richard Kaufman [00:01:18]:
I’m so grateful for you. Jay, my friend, welcome to the show.
Jay Conner [00:01:22]:
Richard, thank you so much for inviting me to come along and talk about my favorite subject, that being Private Money. And the reason I’m so passionate about using Private Money and working with private lenders to fund real estate deals is that this one strategy, this one skill set, once it’s mastered- and it’s easy to master- people will never miss out on another real estate deal again for not having the funding. When I started using Private Money all the way back in February of 2009, since that time, I’ve never, never missed out on a real estate deal for not having the money to be able to close in 7 days.
Richard Kaufman [00:02:07]:
7-day closing. That, that is insane. Um, and then I also want to talk about how you actually sometimes only work 10 hours a week in your real estate business. Did I, did I read that right? Or, or am I wrong?
Jay Conner [00:02:24]:
Yeah, let me know. You read that right, but let me clarify that. I work less than 10 hours a week in the real estate investing business. I work many, many more hours a week working and teaching and coaching other real estate investors how to get that Private Money very, very quickly. So my passion is working with other real estate investors and getting them the Private Money and showing them how to do it. So I work many hours doing that. But as far as the real estate investing machine, flipping houses, etc., um, that is totally automated to where all I’m doing is making decisions on what kind of marketing we want to have in place to get motivated sellers contacting us and what offers that I want to be making on the properties.
Richard Kaufman [00:03:11]:
Now you’ve done over 500 deals, correct?
Jay Conner [00:03:15]:
Correct. But that goes all the way back to 2003. So we’re talking 23 years, right? But we flipped over 500 houses, uh, during this time. And, uh, from 2003 until January of 2009, those first 6 years, Richard, the only thing I knew to do to get funding for my deals was use my line of credit at the local bank and use mortgage companies. Well, all that changed. All that changed in January of 2009 when I was cut off from the banks and lost my line of credit. And so that’s when I learned about Private Money and had a whole new way of getting the real estate deals funded.
Richard Kaufman [00:04:00]:
Now, the reason I wanted to have you come on is that I just had a friend of mine come on. His name was Sterling Sizer.
Richard Kaufman [00:04:08]:
He actually, to get his first deal, he bought an 18-unit, um, apartment complex. He had no money down, and he had no credit, so he had to use creative funding. To get that first deal. So, I’ve also had Robert Kiyosaki and Sharon Lechter on, and they always talk about sometimes you have to go left instead of going right, like everybody else. So how did you get into this crazy world of real estate investing to begin with?
Jay Conner [00:04:41]:
Yeah, well, that’s an interesting story. As I mentioned, the first 6 years I was using lines of credit at the bank and mortgage companies. And in January of 2009, I was sitting right here at my desk, and I had 2 houses under contract, Richard, that had anticipated profit of over $100,000 just on those 2 houses. And I thought I still had a line of credit at the local bank. I called up my banker. His name was Steve. We had done a lot of deals together. And I told him about these 2 houses I had under contract.
Jay Conner [00:05:16]:
And I learned like that over the phone that my line of credit had been closed with no notice to me. You know, my first thought was, you know, it sure would’ve been nice to know you’d closed my line of credit before I went and put earnest money down, you know, on these 2 houses. But I said, Steve, what in the world are you telling me that you’ve— that the bank’s closed my line of credit? We’ve done a ton of deals. I’ve always made my payments on time. I still got a great credit score. I said, ” What in the world was the problem? And Steve said, Jay, don’t you know there’s a global financial crisis going on right now? I said, ” No, but you just gave me a global financial crisis. Well, I don’t have a way to fund these 2 deals without, you know, the line of credit. So I sat here, I, you know, I set the phone down.
Jay Conner [00:06:03]:
By the way, Richard, we actually still have landlines here in North Carolina. Can you believe it’s with cords? There are probably some people who have never even seen that before. But anyway, I sat here at my desk, Richard, and I thought for a second. And I want to share a question with you and your audience that I asked myself. And this is a very, very powerful question. Very, very powerful. In fact, the answer to this question can help any of your listeners with any problem that they have, whether it’s career, financial, relationship, health, business- it doesn’t matter. And here’s the question I asked myself after hanging up the phone with my banker.
Jay Conner [00:06:40]:
I said, Jay, who do you know? You know, it’s who, not how. I said, who do you know? That can help fix your problem? By the way, these people running around saying every problem’s an opportunity, I want to throw up. I did not have an opportunity. I had a problem. Now, my problem became an opportunity. I wouldn’t be sitting here with you and your audience without that experience. But first, we had to get help with the problem. And so when I ask myself, who do you know that can help you with your problem? Richard, I immediately thought of a dear friend.
Jay Conner [00:07:19]:
His name is Jeff, and he was living in Greensboro, North Carolina, at the time, and he was investing in single-family houses. And, um, my wife Carol Joy and I, we knew him, uh, and his wife through church and, uh, a cappella gospel singing events and all that kind of stuff. So I called up Jeff. I knew he was investing in single-family houses. And I said, uh, Jeff, I said, and I told him what had happened with my conversation with my banker. And he said, well, Jay, welcome to the club. I said, well, I’m not sure I want to be a member of that club, but what club are you talking about? He said, well, that’s the club of being a member of having the experience of your bank and your line of credit being shut down. Uh, he said, my bank shut me down last week.
Jay Conner [00:08:08]:
I said, well, Jeff, how are you going to get your deals funded? He said, well, have you ever heard of Private Money? And I said, no. He said, have you ever heard of self-directed IRAs and how regular individuals like us can take current retirement funds that they’ve got and move them over to a self-directed IRA company, and they can loan that money out to us? And the interest we pay them is either tax-deferred or tax-free, depending on the type of account they’ve got. I said, Jeff, you are talking over my head, man. You are talking Greek to me. I don’t know what in the world you’re talking about. I said, ” What is Private Money? He said, ” Well, I’m not really sure. He said, but there’s this gentleman down in Jacksonville, Florida, by the name of Ron LeGrand. I said, ” Who’s Ron LeGrand? He said, I don’t know.
Jay Conner [00:08:57]:
He says, but Ron says we can get a lot of Private Money really, really fast. I said, okay. I need a lot of Private Money really, really fast to fund my deals because I don’t want to lose these 2 deals that I got under contract. So I went to my very first real estate investing conference after being in this business for 6 years to learn about Private Money. And oh boy, Richard, did I learn about Private Money. I went to that conference. I came back home here to Morehead City, North Carolina, and I put my opportunity together. There’s the keyword right there.
Jay Conner [00:09:32]:
I put my opportunity together, to where what I was gonna do was put on my teacher hat. Now my teacher hat says Private Money, teacher. And so I just took on the mindset of no pitching, no begging, no selling, no chasing. But I was going to offer my Private Money opportunity first to just my current network, my current warm market, people in my cell phone, people I go to church with, without having any deals attached to it. And you know what, Richard, in less than 90 days, I was able to raise $2,150,000 in new funding, which was a whole lot more than my line of credit was at the local bank. And since that time, I’ve never asked anybody for money. I’ve never pitched a deal. And part of that secret sauce is because you get the money lined up first.
Jay Conner [00:10:30]:
The— and here’s another really, really important part. And I’ll turn it back to you, Richard. Carol Joy, my wife, and I, we’ve had 48 individuals- just human beings, regular people like me and you fund our deals either through investment capital, liquid funds, and/or retirement funds over these years. And here’s what’s interesting. And this is a big part of the secret sauce. Not one of these 48 people ever heard of Private Money, private lending, or self-directed IRAs until I put on my teacher hat and I educated them. You see, the relationships were already in place, the trust, the confidence, the relationship was already in place. And so then I came along as a teacher.
Jay Conner [00:11:21]:
And I share this opportunity as to how they can earn high rates of return safely and securely, all backed by real estate. They love it. And then I call them up with the good news phone call in a couple of weeks and put their money to work for them. So, you know, the worst time in the world to be raising Private Money is when you need it for a deal, you know? And so it’s all about having this attitude of service. Leading with a servant’s heart, um, getting them higher rates of return safely and securely than they’ve ever seen before. Richard, you’ve been around the block a long time, and I’m sure you have heard the guru stand on stage more than once and tell new real estate investors, ” Oh, just get the deal under contract. The money will show up. You’ve probably heard that, right? You’ve probably heard that.
Jay Conner [00:12:18]:
You’ve probably also heard, oh, get the deal under contract. Money finds good deals. Let me ask you a question. Has money got legs? Is it running around looking for deals? Is a drone gonna fly over your front porch because you got a deal under contract? It just makes so much more sense to me to have the money lined up, ready to go. There are always deals, always gonna be deals. And just think about how much more confident, how many more offers you’re gonna make on properties when you know you got money burning a hole in your pocket, ready to go to work and to fund your deal. Back to you, Richard.
Richard Kaufman [00:12:58]:
Well, you know, Jay, you know, I, I really wanna talk about is, for me, um, everything is relationships. You know, any good business deal is done with people that you know, like, and trust. And I’m sure that it took relationship building before you just went and asked people, you know, to invest. Because if you just come up to any Tom, Dick, and Harry and say, hey, you want to invest in real estate and something you know nothing about? They’re gonna be like, yeah, uh, no, I’m good. So talk about building relationships and how important that is, especially in today’s world.
Jay Conner [00:13:41]:
Yeah. There are 2 categories of relationships that I’ve identified that relate to Private Money. There is your current list of connections, your current network, right? And then the other category is expanding your network of connections. Because if you want to scale your business, you’re gonna run out of your current connections sooner or later.
Jay Conner [00:14:07]:
So my mastermind members, my Platinum Plus coaching clients, on average, they’re gonna raise about $2 to $3 million before they start to run out of their current connections. Right. And so I teach and coach: how do you expand? How do you grow your network very, very quickly to create more new, solid, deep relationships that, after that relationship is established, then you can, you know, talk about the opportunities of Private Money. And one way that I teach to grow that very, very quickly is by joining and getting very involved in Business Networking International. I have attracted millions of dollars from being active in Business Networking International, also known as BNI, founded by Ivan Misner. And it’s a great organization. It’s for the purpose, uh, and every city of any size has got a BNI or multiple BNIs in it. And what I love about BNI is that it’s all about serving each other in that organization.
Jay Conner [00:15:23]:
And you bring your fellow members leads, and they bring you leads, right? So they bring you leads as a member of people who would be interested in earning higher rates of return than they currently do. And so, you know, one of the most common questions that I get, uh, Richard, is, you know, you’ve got, you’ve got a relationship with someone. How in the world do you even bring it up in conversation? The, uh, topic of Private Money. And there are multiple methods. Uh, in fact, I’ve written a book called The Private Money Million Dollar Script Collection: 12 different scripts on how to bring up these conversations. And in fact, when we finish our conversation, remind me, Richard, and I’ll give your audience a free link to the very first script. It’s called the Curiosity Opener Script. But there’s the direct method.
Jay Conner [00:16:20]:
There’s the indirect method. Uh, I’ll just share a short story. Uh, my very first $500,000 in Private Money was pledged to me to go make offers on houses. Here’s how it came about. Carol Joy and I were going to church on a Wednesday night, 7:30. We got there and went into the foyer for Bible study, and I was looking for a gentleman named Wayne. He and I had known each other for some time. And I walked up to Wayne.
Jay Conner [00:16:48]:
I said, Wayne, I got something I want to talk to you about confidentially after Bible study, if you’ve got a few minutes. And he said, ” Sure. And so after Bible study, we got together, and here’s exactly what I said to Wayne. I said, Wayne, you know everybody in this town. And he did. He was the Zenith television dealer in Morehead City, North Carolina. Now, if you don’t know who the Zenith Television Dealer is and you’re listening to this show or watching this show, guess what? You are too young to remember life before Walmart came to town. Because before Walmart came to town, you went to the Zenith Television Dealer and he sold you your TV.
Jay Conner [00:17:31]:
It was a box that sat on the floor and had speakers, and he financed your TV. He’d actually come to your house and repair your TV. So Wayne knew everybody in this town. And here’s what I told him. I said, Wayne, you know everybody in this town. I said, I need your help. And now there’s the magic phrase right there. I need your help.
Jay Conner [00:17:50]:
I said, Wayne, I’ve now opened up my real estate investing business by referral only to people that I have a relationship with, or people who I know have a relationship with. And here’s what I need your help, uh, with, Wayne. I’m now paying insane high rates of return, uh, backed by real estate. And when you run across somebody that you know and they’re complaining about making no money in the local bank or losing money in the stock market, would you refer them to me and I’ll tell them about how my private lending program and opportunity works? He said, well, now, Brother Jay, what you got going on there? And I said, well, what do you mean? He said, well, you’re paying insane high rates of return. What kind of rates of return are you paying? I said, so you’re saying you might be interested in this opportunity yourself? He said, well, I might be. I said, well, why is that? He said, well, we’re making less than 3% in a certificate of deposit at the local bank. And that’s what it was in 2009. We’re losing money in the stock market.
Jay Conner [00:18:56]:
Um, what kind of rate are you paying? I said, well, Wayne, it sort of depends on the deal. I said, ” What sounds high to you? He said, ” Well, I don’t know, maybe 5 or 6%. I said, Wayne, I can’t pay you 5 or 6%, but I can pay you 8%. He said, ” Put me down for $250,000. And so that next afternoon, Richard, on Thursday afternoon, I went to his and his wife’s home, and I went there with my teacher hat on. Figuratively, of course, to just teach them how this opportunity works. After 2 cups of coffee, that $250,000 became $500,000 that they wanted to invest. And bear in mind, I wasn’t pitching any deal in that particular conversation.
Jay Conner [00:19:46]:
I just told them I would call them up right away and put their money to work for them as soon as possible. And that’s what I did. I called him up with the good news phone call, and the good news phone call—I never asked for funding. You know, Richard, let’s say you’re one of my new private lenders, and you had $150,000 in a retirement account at an old employer. And I’ve told you about self-directed IRAs, and you didn’t know about self-directed IRAs. And so I’ve introduced you to a company that you can move your money over to, and you’ve moved. That $150,000 from an old 401 (k) over to the self-directed IRA company. And I’ve told you, I’m gonna put your money to work for you just as soon as possible.
Jay Conner [00:20:29]:
So I call you up, Richard, I’m gonna give your audience right now the script. Here’s the script for the good news phone call that gets your deals funded 100% of the time. And here it is. I call up Richard. We have a little chitchat. And then I say, Richard, I’ve got great news for you. I can now put your money to work. I’ve got a house under contract to purchase in Newport with an after-repair value of $200,000.
Jay Conner [00:21:00]:
The funding required matches up to what you have at your self-directed IRA company, $150,000. That’s 75% of the after-repair value. Closing’s gonna be next Thursday, so you’ll need to have your funds wired to my real estate attorney’s trust account by next Wednesday. I’m gonna have my real estate attorney email you the wiring instructions. That’s the end of the conversation. The most stupid thing I could ask Richard is, ” Do you want to fund the deal? Of course he wants to fund the deal for 3 big reasons. Number one, He trusted me to move his $150,000. I mean, he did the moving over to the self-directed IRA company.
Jay Conner [00:21:46]:
Secondly, Richard knows in this example, I’m not gonna bring a deal for him to fund unless it matches the criteria of the opportunity I already taught him. He knows I’m not gonna borrow more than 75% of the after-repair value. Well, $150,000, 75% of $200,000. Now I didn’t say 75% of purchase price. No, no, no. We always bring home a big check when we buy properties. Who wants to get paid to buy properties, taking none of your own money to the closing table? The third reason that Richard wants to fund my deal is that he’s not making any money until I put his money to work. So I hope for those of you that are tuning in right now, You’re starting to imagine and start to get an understanding of how this is a very simple process.
Jay Conner [00:22:38]:
You’ve got a relationship in place. You know how to start a conversation and bring up the opportunity. You call ’em back with the good news phone call and put their money to work. It’s all about serving and delivering on your promise.
Richard Kaufman [00:22:58]:
Okay, so I got it. I got somebody who just texted me a question. His name is Craig. He says, what in the heck is a self-directed IRA?
Jay Conner [00:23:07]:
That’s a great question. So a self-directed IRA company is also known as a third-party custodian, a third-party custodian. So a self-directed IRA company is a company that is approved by the IRS. They cannot give any financial advice. They are the custodian of your retirement assets. So the reason it’s called a self-directed IRA is that you, as the owner of that account, truly 100% make the decision and self-direct where you want your funds invested. So when you have this account, you can invest in pretty much anything. I mean, you can take retirement funds in a self-directed IRA, uh, in your account, and you can go invest in real estate yourself.
Jay Conner [00:24:11]:
You can invest in notes, right? Or you can be a private lender. So maybe you just want to be totally passive. You don’t want to— as a private lender, you don’t have to negotiate deals. You don’t have to find deals. You don’t have to spend money on marketing. Uh, you don’t have to oversee any rehabs. Uh, you just sit back and collect money. And as a private lender, think about it’s like just putting money in a certificate of deposit.
Jay Conner [00:24:41]:
At the local bank, you know exactly what your annual percentage rate return is going to be. Well, with this, you are loaning the money backed by real estate. You got a mortgage for that promissory note or a deed of trust in Texas or North Carolina, and you just sit back passively as a real estate investor collecting money. Richard, that was a long answer to what in the world is a self-directed IRA. But, um, if you, if you want to fill in any cracks right there on the definition, feel free.
Richard Kaufman [00:25:14]:
No, I, I think it’s very interesting because, you know, a lot of people might have a million, a million and a half in a 401, and then they’ve got to wait until they’re 65 to even, even think about using it, if you live that long. So I think having a self-directed IRA and then investing in real estate, I think, because God’s not making any more land. So I think that, you know, I think that real estate is the way to go. Um, and, and I think like in New Jersey here, property values are never going down. They’re always going up.
Richard Kaufman [00:25:52]:
So I think that, you know, doing something like that is truly amazing. But how do you get them to close in 7 days?
Jay Conner [00:26:01]:
Well, that’s a great—
Richard Kaufman [00:26:02]:
That’s the best, the shocking part that I— that’s racking my brain.
Jay Conner [00:26:07]:
Yes. That’s a great question. The only way you can close deals in 7 days. Hey, look, I’m doing 3 closings today, and the private lenders did not get my phone call until yesterday. I’m doing 3 closings in 24 hours. So how in the world do you do that? The only way that can work that I know of is to have your relationships in place. So what relationships do you need in place? Well, you definitely need a very, very strong relationship with your closing agent. So are you using a title company? Most states use title companies for real estate closings.
Jay Conner [00:26:52]:
North Carolina uses real estate attorneys.
Jay Conner [00:26:56]:
So my real estate attorney, her name is Julie. Her office is right next door, right next door, about 12 steps down the sidewalk. And so I texted my attorney. She’s been my attorney for over 15 years. I texted Julie yesterday. I said, look, I got 3 closings I want to do. Um, actually it’s not today; it’s tomorrow. So 48 hours, 48 hours.
Jay Conner [00:27:22]:
Uh, the paperwork’s being done today. I’m signing paperwork today. So I texted my attorney yesterday. I said, ” Can we close these 3 in 48 hours? And she said, ” For you, Jay, yes. So number one, you close quickly by having a relationship with your closing agent, real estate attorney, and title company. So whenever I need something closed with Julie, she’s able to, she’s able to make it happen. The second, of course, obvious relationships you gotta have in place are with your private lenders. So who are your private lenders? And you need to keep a running record of how much money, how much Private Money they have available at any time.
Jay Conner [00:28:06]:
So I have a file in the filing cabinet right down the hallway that’s got all of our— it’s a simple spreadsheet. Excel spreadsheet, a simple spreadsheet showing how much Private Money each of our private lenders has got invested in which deals, and which private lenders have X number of dollars available. So yesterday afternoon, I simply called up 3 of them that I knew what they had available. And I said, hey, I’m closing the day after tomorrow. Um, and they’ve already, I mean, they’ve been waiting for the phone call to get their money reinvested. And so I told them, I said, if possible, we need the money wired to my real estate attorney’s trust account, uh, today, which was tomorrow since I called them yesterday. So those are the 2 primary relationships in place, right? Private lenders, you know how much they got. And, uh, your realtor and your closing agent.
Richard Kaufman [00:29:09]:
So what’s going on in your world besides having all these closings? Um, I know you got something coming up in October. What’s going on in Jay’s world, and you’re teaching? So what’s going on in Jay’s world?
Jay Conner [00:29:26]:
Yes, Richard. This is what I’m so passionate about: being a part of real estate investors’ transformations in getting Private Money. And I’ve worked with real estate investors ever since 2011- the past 15 years- those who have never done a deal before. And I work with them to get Private Money raised before they even have their first deal. I work a lot with private real estate investors that have done maybe 1 to 5 deals, but they’ve run out of money, and they’re sick and tired of hard money. This world of Private Money has got nothing to do with hard money. We’re not applying for any loans. We’re making the rules.
Jay Conner [00:30:05]:
And I’m thinking of Stu and Harriet up in New York. Uh, they came to me not long ago. They had already raised over $1 million in Private Money and had over 100 houses in their portfolio. So quickly, I helped them raise another $3 million. So regardless of people’s experience, I work with them on Raising Private Money. So what you just brought up, Richard, I’ve got a very exciting, um, conference coming up, uh, in-person conference. It’s October 7th, 8th, and 9th. October 7th, 8th, and 9th.
Jay Conner [00:30:37]:
And it’s called the Private Money Conference. So many reasons to come. All the details about the Private Money Conference, uh, are at this URL that I’m gonna give out, this website. This is a $3,000 event, but for your audience, Richard, they get to come for free- 2 people for free with a measly $97 registration fee. And the only reason we charge the $97 registration fee is that it guarantees and holds the seats for the people who are registering. You can check out the Private Money Conference at this special website, www.JayConner.com/Event.
Jay Conner [00:31:33]:
That’ll give you all the details. And look, if you got any questions about the event, uh, just give me a call. My phone number is 252-808-2927. 252-808-2927. And who knows, Richard Kaufman himself might even be at the Private Money Conference October 7th, 8th, and 9th. Um, you never know. You never know. And look, in addition to that, I promised that free script.
Jay Conner [00:32:02]:
So in addition to the Private Money Conference, you can download for free, uh, it’s a PDF, it’s called the Curiosity Opener. How do you start a conversation with a potential private lender? You can download that for free at www.JayConner.com/Scripts.
Richard Kaufman [00:32:25]:
Now, you also said you have a book; you have a podcast. So let’s talk about that.
Jay Conner [00:32:32]:
Absolutely. So, my podcast, I’m in my 8th year. It’s called Raising Private Money. Imagine that: Raising Private Money with Jay Conner. It’s on all the podcasting platforms, and we go live twice a week. And, uh, I interview other real estate investors that have raised Private Money and talk with them about how they’ve gone about raising Private Money. So if it’s a great show, great show, Raising Private Money, check it out. And in addition to that, uh, my national bestselling book, It’s called Where to Get the Money Now, Where to Get the Money Now, and you can pick up the book for free at www.JayConner.com/Book, and just cover shipping and handling.
Jay Conner [00:33:24]:
I’ll autograph it and rush it right out to you.
Richard Kaufman [00:33:27]:
I love it. And now I want to give a big shout-out to Beverly for putting this all together. I want to give a big shout-out to Veterans Woodworking for sponsoring today’s show. If you love great woodworking and you love to support veterans, check out www.veteranwoodworks.com. Uh, that’s normally the last thing I have to say, but because it’s you, I got one more question.
Jay Conner [00:33:50]:
All right.
Richard Kaufman [00:33:51]:
Ever since COVID, America’s been going through a lot. Um, we’ve lost over 100,000 restaurants. In the United States alone since 2020. Um, and so the average person might have lost their job, might be driving Uber, might be driving Lyft. So if I ask them to do something in the next 24 hours— I mean, the next 7 days— they’re probably never going to get to it. But if I ask them to do something in the next, uh, 24 hours, they’re more likely to do it. So now I know you’re a man of faith. So if there’s somebody that’s struggling with their faith, what can they do in the next 24 hours to finally find some peace?
Jay Conner [00:34:41]:
That is a fantastic question. Fantastic question. And I have multiple answers coming to mind right away. One is, you know, God created us to be social human beings. God did not create us to be on an island. And get involved with a group where you can get that kind of spiritual encouragement, right? Um, be very, very careful about who you are hanging around. And if someone is struggling and you feel like you’re not in control, I’m going to share a book. That is very, very meaningful to me, and it’s by Jack Canfield.
Jay Conner [00:35:28]:
Jack Canfield is, uh, a co-author of the Chicken Soup for the Soul series from years ago, but he wrote a book not too long ago, and I think that the 10th anniversary came out not too long ago as well. But this will give you peace and get your mindset on the right track, and it’s called The Success Principles. Fantastic book. There are 66 success principles in that book. And something you can do within the next 24 hours to give you hope on the way in your mailbox is to just order Jack’s book, The Success Principles. The very first principle in that book is called Take 100% Responsibility. For everything that happens in your life. And there’s a formula in that first chapter.
Jay Conner [00:36:25]:
I won’t do the spoiler, so order the book. But there’s a very, very simple formula in that first chapter of how to take 100% responsibility for everything in your life. And I’m telling you, until you know how to take responsibility for everything that’s going on in your life, You’re not going to enjoy the peace that you can.
Richard Kaufman [00:36:49]:
Amen. I love that. Thank you so much for coming on the show today, brother. I appreciate you. Um, and guys, the way I end my show every week, you know that, um, every morning we wake up, we have a choice. We could be victims, or we could be victors. And if you listen to the show, you’re no longer victims of your past. You’re victors of your present and your future.
Richard Kaufman [00:37:13]:
Thank you, guys, for showing up for 14 years every year. I love you guys so much. Um, thank you, guys, for always being here for our amazing guests and for me. Jay, my brother, thank you so much for coming on the show today.
Jay Conner [00:37:28]:
God bless you, Richard. Thanks for having me.
Richard Kaufman [00:37:30]:
You’re welcome. And guys, remember, vertical momentum— the only way to go is up. I love you guys. Have an amazing week. Jay, my brother, maybe I will be there in October.
Jay Conner [00:37:43]:
All right, come on down.
Narrator [00:37:46]:
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 7 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.