Episode 65: The Importance of Resiliency with Joshua Smith & Jay Conner Real Estate Investing Minus the Bank

Raising millions of dollars in private money…is it even possible? Of course, it is! In this episode, Jay reveals how he made this happen by sharing his tried-and-tested lessons and mindsets from raising private money for the last 15 years.

With over 52 million dollars raised and 450 homes rehabbed, Jay knows the secrets to private money like the back of his hand. Join as he shares his transformative approach to finding private lenders and securing capital without asking for a penny. With private money, you can close deals within a week, and the best part is you never have to bring your own money to the table ever again! Jay also reveals his foolproof methods of landing deals by staying informed about market foreclosures, leveraging pay-per-click ads, and utilizing virtual assistants.

So if you’re serious about becoming a successful real estate investor, there’s no better day than now. With the right mindset and strategies, the earning potential that comes with private money is truly endless!

Key Takeaways

  • How to never miss out on a deal again due to a lack of capital
  • How private money promises much better interest rates than hard money lenders
  • The secret to becoming a successful real estate investor
  • Why is private money abundant more than ever before
  • How Jay raised close to a million during one lunch
  • Making the most out of your warm market
  • The importance of looking out for line items during renovations
  • Why tracking foreclosures in your market can be a gamechanger
  • How Jay can close deals in 7 days thanks to private money

Check out my book: Discover How To Get Unlimited Private Money For Your Real Estate Deals

Get it here for FREE:  www.jayconner.com/book 

Sign up for the Private Money Academy and get 4-weeks free: https://jay-conner.mykajabi.com/offers/AMM4hCPW/checkout 


0:01 – Raising Private Money with Jay Conner

0:55 – Who Is Jay Conner?

6:24 – Private Money vs. Hard Money

11:18 – Resiliency: The Most Important Trait Of A Successful RE Investor

14:28 – Jay Conner: I Got More Money Chasing Me Today!

21:20 – The Property Will Pay Your Private Lender

22:40 – Leverage Your Relationships

23:46 – How To Get The Word Out

26:57 – Importance Of Relationships On Your RE Business

30:22 – Prepare A Murphy Money

31:37 – How To Buy Property Using Subject-To The Existing Note

35:05 – How To Find Deals In Today’s RE Market

39:27 – How To Get More Offers Accepted

42:02 – The Wave Of Foreclosures, An Opportunity To Serve

47:34 – Why You Need Virtual Assistants On Your RE Business

51:28 – Things You Should Only Be Doing As RE Investors

53:43 – AI: Are They Useful In Real Estate?

55:20 – Jay’s Free Money Guide: https://www.JayConner.com/MoneyGuide

56:52 – Jay Conner’s Private Money Academy Conference: https://www.JaysLiveEvent.com

58:11 – The Shortage Of Inventory


The Importance of Resiliency with Joshua Smith & Jay Conner 

[00:00:00] Jay Conner: 

And they asked me, they said, Jay, what do you think is the most important characteristic or attribute of a real estate investor to be successful? And here’s the answer. Resiliency. Yeah. Resiliency. Have I lost money on a deal? Yeah. Have any of my private lenders lost money? No. 

[00:00:46] Joshua Smith:

All right, what is up my peeps? Joshua Smith. You’re with another GSD mode podcast interview. Every single week I interview top real estate professionals, and top entrepreneurs, and strip top badasses up there dominating their space. And today, you guys, we got another amazing epic special guest here on the podcast.

A repeat guest. It was, I was looking at the timeframe before we jumped on here, and it was almost five years ago today that we did our last interview. And time flies, it feels like it was yesterday. I’m excited to have our repeat guests on the show back on the show.

But to give you guys some context before we jump in here, our guest says Jay Conner. So he’s been buying and selling real estate since 2003, and a population of only 40,000 people with profits averaging $71,000. He’s rehabbed over 450 homes. Been involved in over 52 million transactions for the past seven years, and has worked completely automated, which I’m excited to get in today about his VA process and that automation process.

But created a seven-plus year-per-year income where he works less than 10 hours a week. He’s consulted one-on-one with over 2000 real estate investors. He’s raised over 2.1 million in less than 90 days with private money when the banks cut him off. Commercial developer, also, national speaker, bestselling author, all these things that we will jump into.

I’m so excited and honored to have Jay Conner back on the podcast. Welcome back,

[00:02:16] Jay Conner: 

Joshua. Thank you so much for having me come back and talk about the subject that I’m so passionate about. And that is private money and how private money puts you in control of your business and the driver’s seat.

[00:02:30] Joshua Smith: 

When I know anybody that’s watching, or listening, I’ll have a link below to our first podcast that we did about five years ago. We went deep on, on this and I’m sure we’ll go deep again today cuz money’s changing, the cost of capital’s changing a lot, changing the investment landscape.

We had certain investor clients that were buying, just through us 20 plus properties a month that over the last 12 months just completely stopped, so that you know, things have changed. So I’m excited to get some updates from you, on that. But for those who didn’t catch our first podcast or who just don’t have, this is their first experience with you, gives us just a quick backstory, man.

I know you’ve been in this game for a long time, so what led you into real estate investing just give us a quick snapshot.

[00:03:13] Jay Conner: 

Sure. Joshua, I was raised in the housing industry. My dad, Wallace, Conner, actually up until the late 1980s, had the largest retailing company of mobile homes, and manufactured homes in the nation.

So I grew up, helping people own a home that was in an industry of affordable housing. But anyway, the consumer financing on that product virtually went away. So in 2003, I knew if I ever got out of that, I wanted to get into single-family houses. Now, I’ve done commercial developments as well.

I’ve got a full shopping center paid for, free and clear. Now I’ve done condominiums, but my focus has been single-family houses. So from 2003 until 2009, the first six years. I was doing this business focusing on single-family houses. Joshua, so I relied on the local banks. I relied on commercial money and institutional money.

That’s all I knew to do. That’s all I knew to do. So I remembered like it was yesterday, I picked up my telephone, and believe it or not, here in North Carolina, we still have handsets that have cords attached to ’em. Can you believe it? I know some people don’t even know what that is. But anyway, I picked up my telephone.

Joshua, I called my banker. His name was Steve and I’ve been doing business with him. Done lots of deals for six years, from 2003 to 2009, and I learned very quickly, Joshua, that, my line of credit had been shut down. I had two houses under contract. I didn’t know that my line of credit had been shut down, so I didn’t know there was a global financial crisis going on until now.

I have a crisis. I can’t fund these two deals. My definition of coincidence is God’s way of staying anonymous. I learned in less than two weeks of that experience about private money what private money is and how it works. And I’m not talking hard money, lender brokers. I’m talking private money, doing business with individuals who would loan me money either from their investment capital or their retirement accounts.

So I learned about self-directed IRAs. So I put a program together where I started teaching people that I had a relationship with on my cell phone, whatever. I started teaching people about my private lending program. So there’s one big difference. I put my program together when I was borrowing money from the banks, they made the rules, they set the interest rate, and they set the frequency of payments.

I put my program together and I started teaching people how they could earn high rates of return safely and securely by investing in my deals, either from their investment capital or their retirement accounts. So when I started teaching people what it was, and by the way, I’ve never asked anybody for money.

I’ve never pitched a deal and done all these deals. We’ll talk about how I do that. So I was able to raise $2,150,000 or less than 90 days. I closed those two deals. And Joshua, since that time, in January of 2009, I’ve never missed out on a deal for not having the money.

[00:06:08] Joshua Smith:

I love it. I love it.

Yeah. So, a lot in a lot of our listeners are probably familiar with hard money but a lot of people, when they hear hard money or private money, and I know we talked about this, deeply in our last podcast, but again, just in case people hadn’t listened to this, can you explain the difference?

Because there, there’s a lot of confusion and, a lot of our audience are tied, real estate agents and representing investors, what is the difference between hard money and private money?

[00:06:35] Jay Conner: 

Yeah, so the first big difference is hard money is typically a broker of money What a hard money lender does is go out and raise private money from individuals for their fund and people will invest in the hard money lender fund, and then the hard money lender turns around and loans it out to us real estate investors and, charges, points, origination fees, charges a higher interest rate and et cetera.

So the first big difference is that private money is doing business with human beings, individuals, right? Hard money’s institutional. Now, here’s some big contrast between the two. First of all, interest rate. Now, when Covid came along hard money lenders shut down. They weren’t even lending at all. And I started having more private money chasing me than ever before.

Before Covid, there was 18 trillion in cash sitting in people’s retirement accounts. Just sitting there. This side of Covid, Joshua, as of two months ago, 31 trillion in cash sitting in people’s retirement accounts. So I’m doing business with individuals. Interest rate, 14% is now the ash the national average that a hard money lender is charging.

Institutional money is almost up to 8%, between 7% and 8%. Private money right now is still at 8%. Interest only or interest accrued. No principal and interest payments and I’ve been paying my private lenders that same interest amount ever since 2009, so the interest rates are a lot lower than hard money lending.

Number two. It’s called origination fees. Origination fees are gonna average between 3% and 4% when you’re borrowing from a hard money lender. In my world, no origination fees, and no points. I’ve never paid a point or an origination fee using private money. Thirdly, are what we call extension fees. Typically a hard money lender is gonna have a length of the note on a flip.

That may be six months, nine months, maybe 12 months. There’s no rush to pay it back. In this world of private money, my terms are either two years or five years. So there’s no rush. If you haven’t paid off your private lend your hard money lender in six months or nine months, they’ll extend your note most of the time.

But what do they want? More money. They have extension fees. I know one hard money lender right now. If you haven’t paid ’em off in 12 months, they will extend your note for 90 days, but charge an additional three points, 3% in this order of private money. I’ve never paid an extension fee. Another big difference is how much money are you going earn when you buy.

If you’re borrowing from institutional money or hard money, they’re gonna loan you typically around 65 to 80% of the purchase price. In this world of private money, you get a hundred percent of your purchase price, and if you are rehabbing, you get a hundred percent of your rehab. So it just really is a big difference.

Puts you in the driver’s seat of your business. Private money is so much easier and user-friendly. When you use private money, there are no appraisals required. Wow. There’s an appraisal required on institutional money. No appraisals are required. Your credit makes no difference. Your credit score doesn’t come into play at all.

No financial statements, no verification of income when you’re using private money. And on top of that, Again, as I said, you’re making the rules. We’re not limited to accredited investors. We can borrow from anybody due to the Frank Rule changing f 5 0 6. So there are just so many reasons as to why it’s so much easier to use private money.

You can close deals so fast. All the offers I offer to close in seven days. Seven days with private money. And, with hard money, typically that’s gonna be at least three weeks. Institutional money, the bank could be even longer. So big difference. One big difference is that when you’re borrowing institutional money or hard money you like, get on your hands and knees, put your hands underneath your chin, and say, Please fund my deal.

Please fund my deal, right? In this order of private money, there’s no asking, there’s no begging, there’s no chasing, there’s no selling. There’s no persuading in this order of private money, instead of asking for a mortgage, We’re offering a mortgage by teaching people what it’s all about. Yep.

[00:10:56] Joshua Smith: 

No, I love that.

So then, alright, so you were in mobile homes, you made the transition to single family, for the longest time, you’re big players, you’re big and big investors. You fund you’re Black Rocks in the world and Blackstone, are buying a ton of commercial and then, we started seeing about 2012 or so, them getting into the single-family game.

And then, of course, up to about a year ago, a lot of these big institutions were making that transition big time to buying all this single family, which it looks like that was a smart decision. Cuz in a lot of these big cities, commercial markets are a mess.

What did you see as a cause that was a right play? Like how did you know to go that path so early on, even before some of these brilliant funds?

[00:11:42] Jay Conner: 

As far as the private money goes, I was forced into it. I just didn’t wake up one morning and say, Hey, I think I’ll go, raise me some private money.

Here’s the deal, Joshua, I was a guest on Ano on another podcast the other day, and they asked me, they said, Jay, what do you think is the most important characteristic or attribute of a real estate investor to be successful? And here’s the answer. Resiliency. Yeah, resiliency. Have I lost money on a deal?

Yeah. Have any of my private lenders lost money? No. Because I borrow at a conservative loan-to-value, I only borrow up to 75% of the after-repaired value. But back to your question, Joshua, I wouldn’t be here with you on your show. Unless I had pushed through because of that difficulty, right? Growth takes place in the valley.

Growth doesn’t take place when everything is just hunky dory, peachy king, right? So there I had that experience of, man, I just lost my line of credit. So it’s not like what I know, but who you know, I asked myself when I hung up the phone, who do I know that can help me with my problem? And so I have a really good friend Jeff who lived in Greensboro, North Carolina at the time, and I called him up, he was investing in real estate and I told him what had happened.

He says have you ever heard of private money? I said, no. He said, you ever heard of self-directed IRAs and introducing people that have a retirement account introduced them to a self-directed IRA company where they can loan you money out on your deals tax-free or tax-deferred? I’d never heard of all that.

So, this private money, my experience of being cut off from the bank was the biggest blessing in disguise I’ve ever had in my business. So it was because I had to change the way that I was doing business, that I ended up doing business now the way I do with private money. Yep. No,

[00:13:38] Joshua Smith: 

I love that. So yeah, just adapting and moving with the changes, and alright, so then from there, okay last conversation.

That. That was all before Covid. Before Lockdowns, yeah. 

[00:13:48] Jay Conner: 

We didn’t even know anything about Covid.

[00:13:50] Joshua Smith: 

Yeah. And then now, I mean with the economy and interest rates and cost of capital going through the roof, lots changed. But it sounds like your model hasn’t changed.

[00:14:03] Jay Conner: 

It hasn’t. And here’s one thing that’s changed. I have more money chasing me today than ever before, ever since Covid. I have a problem, Joshua. I can’t invest all the money I have available to me. Which would you rather have a problem with deals and no money? Or too much money and not enough deals.

Yep. The latter. It’s a great place to be. And the reason there’s more private money available now than ever before, other than what I just said. There are 31 trillion in people’s retirement accounts. They don’t know what to do with it. But I’ll tell you the other big thing, they are scared to death of the stock market.

Yep. They’re scared to death. They don’t, the volatility, for goodness sake, I don’t care what your political affiliation is, but look what’s happened to the stock market in the last two years, two and a half years. And so people are looking for a safe conservative, reliable place to park their investment capital and their retirement funds.

That’s going to give them a decent rate of return safely and securely. That’s why there’s more private money now available than ever before.

[00:15:11] Joshua Smith: 

Yeah, no, that makes sense. It’s the number one conversation I’m having with. Your friends and my mentors of, hey where do you park your money right now?

Because there, there’s no safe place, people are resorting to buying t-bills, to make, four or 5%. Cuz it’s you got 40% of the stock, s and p 500 that are zombie companies. You have this massive double global debt bubble crisis. We just don’t know where to go park it, but okay, like where can you go get a guaranteed 8% right now?

Nowhere, outside. Yeah. O other than with Jay,

[00:15:41] Jay Conner: 

Exactly. And so what does that mean? That means that we have something here. You learn my private lending program, your listeners learn my private that, that is real estate investing, right? Or you got a bunch of realtors, get your realtors the get their investors introduced to me and I’ll plug them into my program and all they gotta do is duplicate exactly what I do to attract the funding, right?

So again, it’s all about what’s our responsibility. We gotta get the word out. You got millions of people that have got the money and the cash, they don’t know what to do. So what do we gotta do? We gotta put on our teacher hat, and that right there, Joshua, is the secret sauce as to why I’ve never asked anybody for money to fund my deals.

How do I do that? And how did I do it? When I started in 2009, I put on my teacher hat and I started teaching people, First of all, in what I call my warm market, people in my cell phone, right? People I go to church with, people in the Rotary Club, business, networking, international, my connections.

And I didn’t run around town doing a bunch of one-on-one, one-on-ones, one-on-ones. One of the first things I did was I put my program together that I was gonna teach how people can be a private lender, and earn high rates of return safely and securely. And the first thing I did was I hosted a luncheon. I paid for people’s lunch, I invited ’em to the luncheon.

And then I did a 30-minute presentation. I didn’t pitch any deals. I, and I taught my private lending program how they can earn high rates of return, safely and securely. I taught them in that 30-minute presentation about self-directed IRAs. Joshua, in that one luncheon I raised without even pitching or selling I’m informing, I’m teaching people about this opportunity I raised without even asking $969,000 in new funding that I didn’t have.

And so I teach ’em and the way I do it, there’s no fear of rejection. How can anybody say no? To something that you’re not asking for. I’m teaching them about the opportunity. I don’t have to ask ’em if they want to get in. I just shut up. Believe it or not, I know how to shut up. So I just shut up after the presentation.

Now they’re asking me how I get started in this. So then they tell me how much they have. Okay, and then here’s some secret sauce right here. Now we separate these conversations from teaching about private money and then having a deal for the private lender to fund it. So here’s the exact script that I say.

When I call up a private lender, I’ll call ’em up. I already know how much money they got. They already told me if it’s retirement funds. I introduced them to the self-directed IRA company that they transferred over. I know they got money sitting there waiting to go to work. Here’s the exact script. I call ’em up, have a little chit-chat, and I say, and here it is the exact script.

I say I’ve got great news for you. I can now put your money to work. I’ve got a house over in Newport with an after-repaired value of $200,000. The funding requires 150,000 closings. Next Thursday, you’ll need to have your funds wired to my real estate attorney. By next Wednesday, I’m gonna have my real estate attorney email you the wiring instructions.

End of conversation. Notice I did not ask them do they want to fund the deal. That’s the most stupid question I could ask. In the world, of course, they want to fund the deal. They’re waiting for the phone call. So let’s unpack that script. I told ’em they got good news for ’em. I can now put their money to work.

I already know how much they got. In this example, they got $150,000. So I told ’em where the house is located. I didn’t give ’em the physical address. They could care less. They’re gonna get that. On the original promissory note, I got a house in Newport. I tell ’em the community where it’s located.

The second thing I told ’em was the after-repaired value. I didn’t tell ’em the purchase price. They could care less about the repaired value of that house. I tell ’em the funding requires $150,000. They already told me how much they got. I know they got 150,000 now notice, not 75% of the repaired value.

I don’t borrow more than 75% of the repaired value. I didn’t say 75% of the purchase price. That house, I’ll buy all day long for a hundred thousand dollars and I’ll bring home a $50,000 check for the rehab and some extra equity because I always get a check when I buy without bringing them in my own money to the closing table.

And then fourthly, I tell ’em when the closing is. So you see what I’m sharing? There’s no asking. There’s no begging. It’s informing, it’s educating, and then giving them the good news. You can put their money to work.

[00:20:23] Joshua Smith: 

Yep. Alright. So the limiting beliefs kick in. Okay, Jay, man, you are a great speaker.

You, you o obviously can go out there and talk and inspire and, motivate. You have a 20-year track record of doing this where you have all these investors that can vouch for you, I’m brand new, want to get into this, who’s gonna give me their money? But you started somewhere.

[00:20:46] Jay Conner: 

That’s a great question.

And here’s the answer. And here’s a writer downer. If you, the borrower, if you do not pay your private lender, the property does, that’s worth writing down. Yeah. If you don’t pay the lender. The property does. So what does that mean? That means that if you lose your mind and move to the Caribbean or whatever, as the borrower, you see you’re not borrowing unsecured funds, you’re going to back that note.

Buy the real estate that you’re buying. You’re going to give the lender that private lender a mortgage. You’re in North Carolina, it’s a deed of trust state. We’re gonna give them a deed of trust, right? So that gives them the right to foreclose on that property, and they’re gonna get that equity right, that you’d be giving up.

So that’s why we do not borrow unsecured funds. Now, some people still don’t want to loan to a brand newbie who’s never done a deal. Then I say leverage your relationships. I got over 2000 students. That has worked with me, learned how I do private money. And so they leverage my relationship. They leverage the relationship with me.

And here’s the script. They say, my partner, my business partner, and I have now rehabbed over 450 houses. Who’s the business partner? Me, right? Because we’re doing business together. So you’re gonna give the lender security, you’re gonna give ’em a mortgage or deed of trust securing their money.

And in addition to that, for goodness sake, if you’re brand new, don’t be doing this business on your own to start with by yourself anyway. Work with somebody. Here’s a writer’s downer. Work with somebody who is in the arena right now in the active arena. As I tell you, the way I’m finding motivated sellers right now is different than the way I was finding motivated sellers before COVID-19.

So work with somebody that knows what’s going on. Yep.

[00:22:43] Joshua Smith: 

Yeah. And we’re gonna have to dive into that. But before I do, yeah. Okay. So in, in that, I think that was an important note as well is, oh okay if I’m going seeking private money, I get hit by a bus tomorrow, their money’s still secured, it’s safe.

Cause it’s backed by that asset. Then from there, I gotta imagine with social media the way that it is today, where you’re just, talking about example deals, whether it be, Facebook lives that you’re doing, YouTube that you’re doing, I gotta imagine that cuz you can only fit so many people like that room that you did that first time can, maybe you can only fit 20 people in that room now while you can have thousands of people watching a video.

What are some things that you’re doing today and or your students are doing to get that word out there? Selling without selling through teaching and attracting those investors.

[00:23:33] Jay Conner: 

Absolutely. So how do you get the word out? There are lots of ways. I just mentioned a private inter-luncheon host luncheon.

Secondly, I have gotten millions of dollars, Joshua, by being an active member in BNI, business networking International, and b, and here in little old tiny Morehead City, my total target market’s only 40,000 people doing two to three deals a month at 78,000 average profit. But here in Morgan City, we have a BNI, Business Networking International.

The beautiful thing about B and I is that our group here has only got 22 people in the group, but I’m not looking primarily to raise money from those 22 people. Those 22 people are my mouthpieces out and about in the community. And so now they are referring their connections to me that are looking to get a high rate of return safely and securely.

That’s another way that it’s very easy to network and find. And then we have this category called existing private lenders. People that you don’t have to teach. People who are already loaning money out to real estate investors. Where do you find them? I can tell you where you find them.

Self-directed I R A net Networking events. That’s where you find them. Did you know that at most self-directed IRA companies, and account holders, over 70% of them want to loan you real estate investor money? They wanna loan you money from their retirement account. And the reason they wanna loan you money is because they don’t wanna be out here negotiating deals.

They don’t want to be finding motivated sellers. All they wanna do is be passive investors, sit back, and watch their retirement accounts grow. And again, they are so much easier to do business with than say, institutional money because they know the game, right? So they’re not gonna be pulling your credit, they’re not gonna be asking for an appraisal, they’re not gonna be looking for verification of income.

So again, existing private lenders that have accounts at self-directed IRA companies, or a great place to network as well. So then,

[00:25:44] Joshua Smith: 

Okay, so you gotta get the money. But then from there, okay, you gotta be able to perform because reputations can be lost like that, and you talked about 75% of aftermarket value.

I believe in our last podcast you mentioned something of a system that you follow that you’re able to teach your students how to be able to calculate that walk in a property within 10 minutes, but what are some, just important things to know or things to avoid with that, so you don’t get yourself or your investors in bad deals.

And then next thing you know, and now, like you mentioned, hey, o over time sounds like you’ve had some bad, you’ve made sure your investors got paid, but not everything’s always perfect, but how do you minimize that exposure? Because you gotta have some type of product knowledge to make sure that you’re getting that component right.

[00:26:29] Jay Conner: 

Excellent question, Joshua. It comes down to relationships. Who are you doing business with on your team? For me, I’m not a realtor. So first of all, My relationship with my realtor is very important. I got the same realtor that I’ve been doing business with since 2004. Since 2004. So I rely on him to give me a comparable market analysis in an after-repaired value state.

So I don’t rely on any online resources as far as getting values and comps. I let the professional do it. Now, a lot of people in your audience are already realtors, so they know how to figure out what the value is. But then we come to who else is on your team, and that is estimating repairs. Now, I’ve got a checklist that I teach my students today nationwide, How much should interior paint cost?

How much should exterior, exterior paint cost? And it’s all driven off of square footage. How much should luxury vinyl plank cost that you’re laying down? How much should the H V A C cost and Mylan ain’t that a story right there? You should be paying about half. What most HVAC contractors will quote.

So the relation comes down to your general contractor right there. So if you’re gonna be rehabbing, estimating repairs, doing business with a reliable, ethical, trustworthy, and performing general contractor is very important. But you gotta know what these line items cost, right? And I’ve got all that information.

How much of these line items cost Sue when I’m getting a general contractor bid? Here’s a right or downer. Don’t ever do this. Do not give the general contractor the scope of work and they give you a bid at the bottom of the of the quote with no line items. Come. For goodness’ sake, I want line items.

How much are you charging for interior paint? How much are you charging for knobs and hinges? How much are you charging for an electrical panel box? Because I know, and my students know how much that stuff should cost. Now I want the line item for how much he or she pays for worker’s comp. I know how much that should cost and what’s the line item of their profit.

I want my general contractor to make good money, but I ain’t paying 25% markup or profit. I’m paying 15%. And so we want all that disclosed. So the easy bottom line answer to your question, Joshua, is it comes down to who you’re doing business with, who’s on your team, and what relationships you have.

[00:28:58] Joshua Smith: 


Yeah. And I believe, again, I’m trying to go off memory recall here from our, but you also then give yourself a little bit of wiggle room. What was like 10%? Oh yeah, like on my offer. Y Yeah. Just so you know, cuz


[00:29:14] Jay Conner: 

Are you talking about estimating repairs?

[00:29:16] Joshua Smith: 

Yeah. Oh, absolutely.

You get in, sometimes you open up a wall and then you realize, okay, there’s something behind here that we didn’t anticipate. 

[00:29:22] Jay Conner: 

Yeah, that’s called Murphy.

[00:29:23] Joshua Smith:  

Yeah, that’s right.

[00:29:24] Jay Conner: 

That’s what you call it. So I will guarantee you, Mr. Murphy who says What can go wrong, will go wrong. Mr. Murphy shows up in every property that you do.

I don’t care what you know, your general contractors worked out for, but Mr. And sometimes Murphy’s cousins, aunts, and uncles show up in a property as well that you weren’t anticipating. So as a rule of thumb, I always throw in an additional $10,000 additional cost to repairs that I have no idea. But I do know from experience after rehabbing 475 houses.

Now I do know from experience, typically $10,000 of Oops or $10,000 of Murphy money is going to cover the unexpected.

[00:30:10] Joshua Smith:  

Awesome. So then, last time we talked a lot of these, you were doing rent-to-own options after you bought them, rehabbed them. Is that still the main play here?

[00:30:24] Jay Conner: 

So lemme tell you how we have pivoted since five years ago. So here’s how we’ve pivoted. Here’s the rule of thumb, and here’s the right or downer. When I pay for a property with all cash I use in private money, I cash out, I put it in the multiple listing service and sell it. I’m not gonna bury money.

However, I still do a lot of rent to owns, and here’s how I do it. When I buy on terms from the seller, the FSBO I sell on terms i.e. rent to own. I buy houses without using private money. I buy houses subject to the existing note, meaning the FSBO for sale by the owner agrees to sell me their property and transfer ownership and title into my company.

And I agree to make their payments for them, right? You say who in the world would agree to do that? A motivated seller looking for debt relief. That’s who would be willing to do that, right? They’re in foreclosure, they got payments that are behind there was a divorce, et cetera. When I, so here’s the easy formula.

Pay cash, cash out. In other words, pay cash, private money, cash out, and sell it. Don’t believe money is buried, buy on terms, sell on terms.

[00:31:37] Joshua Smith: 

Okay. And what was it Just cause I believe that it was something like around 20%. 

[00:31:44] Jay Conner: 

Yeah. Man, you got a great memory or a great assistant that went back and listened to it.

So the way it works is most real estate investors that sell on rent to own or lease purchase, leave the rent to own buyers to their own devices to get ready for a mortgage. The likelihood of that happening, is slim to none and Slim just got up and left, right? So less than 5% would ever get ready for a mortgage, but we force them into credit repair and help them get a mortgage.

So we were cashing out and still do 80%, helping 80% of our rental buyers get a mortgage. For the other 20%, something happened. They lost their jobs. They moved out. But I’ll tell you, Joshua, I just got tired of renovating and rehabbing that 20% of houses more than once. Yeah. Yep. I don’t wanna rehab ’em more than once.

So when I buy on terms, typically I do not have to do a rehab. There’s this thing called renovation and then there’s this thing called rent ovation, right? Yep. So I don’t have to do nearly as much to a home that I’m gonna sell on rent to own. Now, I tell you what I love about Rent to Own versus just straight rental, because on the Rent to Own program, I’m going collect a large $10,000 or more non-refundable option fee from the tenant-buyer, the rent-to-own buyer.

And after 30 days of them living in the house, they are responsible for all the repairs. There’s no tenant. There are no toilets, there’s no them calling me to repair their house. It’s that they, the rent-to-own buyers have got an owner mentality. Okay. So repairs are on them. I love renting to own versus long term, just buy and hold.

[00:33:25] Joshua Smith: 

Yeah. And then, Blackstone acquired Home Partners of America and they have a rent-to-own option. It’s slowed down I think now with the cost of capital going up. But I believe that their numbers are something like only 35% actually, move forward with the acquisition.

So it’s the reverse of yours. And it sounds like you’re saying that the key here is really because you make sure and work with them through your VIP credit service. That’s right. Do, yeah. Like you don’t just, Hey, figure this out. Hopefully, you can buy it.

[00:33:57] Jay Conner: 

That’s right. And let’s be straightforward about this.

Most real estate entrepreneurs that sell on rent to own don’t want ’em to cash out. Yeah. They and they’re not gonna help ’em get a mortgage. I’m here in a small area, a small town, Mortgage City, North Carolina only got 8,000 people. Word gets around and I just figure it’s the ethical thing to do.

They have got a mentality, they wanna own this home, and I’m gonna help ’em if they let me. And think of all the goodwill that I have gotten from helping people get a mortgage and a pathway to home ownership, that without my team they would have no hope of ever owning a home and enjoying what people want to enjoy.

And that’s the American dream.

[00:34:36] Joshua Smith: 

Yep. Okay. So you mentioned how you are finding deals today. Is vastly different than pre covid, which was our last conversation. So w walk us through that. What does that look like?

[00:34:48] Jay Conner: 

Two big differences now, One, I still do and I’ve been doing it since 2004. My wife, Carol Joy, and I put together our foreclosure system where we track every foreclosure in our county that we’re tracking every, if, when the file opens, we track it we know exactly where it is in the process of foreclosure.

And then I have eight letters that we sequentially mail to these people in foreclosure. And of course, all moratoriums are lifted. Hit this year. Right now we’re gonna have more foreclosure starts than we have ever since 2000 7, 8, 9. I still do that, but there are two other pieces that I did not do before Covid that I now do that have been game changers.

Number one, top of the list, Google paid ads, pay per click. Pay-per-click ads. And these people, I only need seven leads to buy a house. Now, of course, I’m not buying anything in the Motorable listing service. Ain’t nothing in there. I have no inventory. So everything we’re buying is what we call off-market or for sale by owners, and we’re buying directly from the owners of these properties.

So here’s the deal. I got a small sandbox. I’m playing in a small sandbox here, and that’s a big benefit. Joshua, I dominate my market. I am the most consistent game in town. Are there other real estate investors? Of course, but I’ve got the name presence, so I hired three different pay-per-click companies, so I compete with myself.

So it’s like somebody types in Google here in our local area. Buy my house fast, sell my house fast. For any of those keyword phrases, I’m the top three people on the page right here in our area. So Google paper, click. Now I’m paying $150 per lead, but let’s stop and think about that. Seven times $150, right?

A thousand bucks and I’m gonna make $78,000. That’s like how many pay-per-click? How many hundred $50 do I wanna pay?

[00:36:51] Jay Conner: 

So Google Pay per click number two. Facebook ads. Facebook ads. So paid, not Facebook posts, but paid Facebook ads. Now I need 30 of those to buy a house I need.

Cause somebody getting a lead on Facebook in their newsfeed, it’s just scrolling up. They weren’t looking for it. So they’re not as qualified as somebody who’s looking, for someone to buy their house. But I’m only paying $30 a lead for those. Or what’s 30 times 30?

There’s your 900 bucks again, How much $30 do you wanna pay, to get your 78 grand back? So Google Pay per click and Facebook paid ads are two biggies that I wasn’t doing last time. You and I talked. Yep.

[00:37:33] Joshua Smith: 

No, love it. So then, you know a lot of people today, and when I say people I’m talking, about those realtors, those in the real estate industry, I have a thought like who, who would go out there and sell their house at the deal that you need to an investor when most markets are still pretty hot, equity’s all-time highs, but look, there’s still, whether it be certain hardships like what type of a seller is typically like, that’s an ideal seller, an ideal situation that you are the perfect fit for.

[00:38:06] Jay Conner: 

Either the seller owner of that property has got a problem, or the property itself has got a problem. So most of the properties and houses that we buy do need some type of renovation in rehab.

And so you got realtors that, don’t even wanna list it. It’s not gonna bring, the kind of money that say a house. It’s a beautiful condition. And a lot of people, for their reasons, just don’t want people traipsing through their houses. Yeah. They don’t want to go through the experience of that.

And a lot of people want money today. Here’s a big unique selling proposition that I have when I offer sellers. I can close any deal in seven days. Seven days. I get more offers accepted that way. I just closed Joshua on a house over in Havelock three weeks ago. We were talking with the seller. They responded to our marketing and you know what they said, okay we don’t wanna sell really until August months down the road.

We, you know how we close that deal? I said I’ll pay y’all cash using private money. I’ll pay y’all cash in seven days and you can live in your house for free through all this no rent. And say, people say, Jay, why would you let ’em stay there for free? I let ’em stay there for free, cuz I’m gonna make up $78,000.

What’s, five months’ worth of rent? It doesn’t make any difference. So that’s a big thing that private money benefit gives you. You get more offers accepted when you’re able to close fast.

[00:39:37] Joshua Smith: 

Yeah. And time kills deals. So if you had waited until August, they could have explored other options.

They could have.

[00:39:44] Jay Conner: 

My guess Joshua is I would never have bought that house unless I was able to close it right then.

[00:39:50] Joshua Smith: 

Yep. And because you’re raising private money, you’re essentially in full control of how that capital’s allocated win. Where that’s it. Yep. Yep. So then, alright, so you mentioned with foreclosures there’s so many that, have this, oh the, there’s the biggest debate out there, at least in, my world anyway is the market gonna crash or is it not gonna crash?

What the hell’s going on? But you mentioned something that I’m sure got people here perked up about more foreclosures hitting the market and coming online this year. Then we saw it in, in, oh seven or since oh 7, 0 8. Is that something that you’re just seeing in your market?

Is that something that, because I know you have students everywhere, is that something that you’re seeing across the board? And then, just so I don’t forget the follow-up question to that would be, is that just because there’s been such a backlog of having three years of moratoriums is that something where it’s concerning thinking, okay, this could become another potential oh eight,

[00:40:44] Jay Conner: 

So it’s not gonna be another oh 2007, 2008, or 2009.

Of course, those foreclosures back then were for a completely different reason than what we were looking at here. The foreclosures we got going on here were, because of covid. So all moratoriums are lifted. But I will tell you, the mortgage companies on these foreclosures, they have been sitting on them.

And not opening them up all at once cause they don’t want to flood the market. But now they’ve been sitting on ’em and they can’t sit on ’em any longer. They’ve got to open ’em up. And so I’m seeing momentum all across the nation now. They started opening them up in October 2021 when they started opening them up in 2022, a little bit more.

But now the momentum is building and I’m experiencing it in my small market and my students all across the nation. The wave is picking up the wave of foreclosures. Now, there’s not gonna be as many, not gonna be as bad as the oh 7, 0 8, 0 9, but the opportunity to serve a lot of these people is now this year.

And here’s what I mean by the opportunity to serve. We’re buying most of these foreclosures, Joshua, not at the courthouse steps, not reo bank-owned in the multiple listing service. They put them in the multiple listing service. You got everybody competing for it. We’re buying our foreclosures directly from the people who are facing foreclosure from the time they’ve received a summons or notice of default.

Up until the sale, that’s the magic window of helping these people. And these people all the time tell us that they will sell us their property, their house for what they owe, but we never buy it for what they owe. Now. Now, for all these foreclosures, we buy a subject to the existing note. We’ll use private money in the second position to bring the payments and the arrears current.

But even when they tell us they’ll sell it to us for what they owe, we always put thousands of dollars, 2000, $3,000 in their pocket. Because for goodness sake, if I’m gonna make $78,000, can I not put some money in those people’s pockets and help them get back on their feet? Of course.

[00:42:54] Joshua Smith: 

So with that, you’re not having to go through an actual short sale payoff, like a, an actual short, like okay you’re able to come clean with a note.

Enough equity in the property makes all that happen. You’re really, everybody wins. That’s right. That’s right. Okay. Yep. I like that. Yep. So then, yeah and this is a theory, but I’ve got a theory that even if there’s the volume of foreclosures, we won’t see the foreclosures hit the market in the same way.

And the reason is okay, in about 2013 we saw this happen with HUD where you know, cause BlackRock became the majority institutional investor in HUD. So then we saw that move where they just started packaging up essentially anything that would meet BlackRocks, different investment funds, directing Tim.

So then the only HUD Oreos that hit the market were things that didn’t meet their buy box. Since BlackRock, State Street, and Vanguard are all co-owned, now I have majority institute institutional ownership in Freddie and Fanny, so then I’m like, okay, are those gonna hit them?

But you are positioning yourself before they even have a position to get to ’em. So you’re like first to ’em with this strategy.

[00:43:59] Jay Conner: 

Oh, that’s the whole deal. And this foreclosure market. Our whole system and process are to reach out to these people before the other real estate investors even know about these deals before they even know about ’em.

That’s why we physically go to the courthouse. We don’t rely on online marketing sources. We physically go to the courthouse twice a week, Tuesdays and Fridays, and we track every open foreclosure file here in North Carolina. It’s called the special proceedings room in the clerk of court’s office. And we track ’em and we mail ’em.

Now, when we have more than one layer of motivation, we knock on the door and we outbound text and call. So multiple layers of motivation would be okay. They’re already in foreclosure. There’s one layer. Another layer example would be if you see the foreclosure is on the estate of a person’s name, then you know it’s an estate.

Those people aren’t gonna bring the payments current. So now we want to skip trace those people to find the executor or executrix if there is one. And I’ve learned over the years, Joshua, that the harder it is to find the owner of a property, the more profitable it is. Yeah.

[00:45:08] Joshua Smith: 

Cause nobody wants to do the hard work to hunt ’em down. That’s right. Alright, so you were ahead of the curve on working with VAs and automating through VAs. And now that all this inflation and employee inflation and you got, all these the lowest work participation rate in United States history, like just it’s gotten tough.

It’s gotten tough to go out there and manage and hire and make things, work financially where VAs. Now we’re seeing, you were, again, a way ahead of this. Now we’re seeing a lot of people jump, trying to jump into the VA game. But man, that could be very difficult if you don’t have the right process.

Don’t have the, can, you can, cause you’ve been doing the VA thing again for so long and you’re ahead of the curve on this. What is the key to having success with VAs?

[00:45:57] Jay Conner: 

So a VA, of course, we’re talking about virtual assistance. Virtual assistance is what we’re talking about.

And the great thing about having virtual assistants help you in your business is, first of all, you don’t have to have an office. You don’t have to go buy a desk. You don’t have to buy ’em a laptop. You don’t have to buy ’em a phone, right? They’ve already got everything they need. So what can a virtual assistant do to help you in your real estate business?

The list is very long. Number one, they can manage all of your leads that are coming in. For years, Joshua, I was just stupid. I like I kept it with my leads on Post-it notes and pieces of paper, right? For goodness sake, give me a break. So I have software that myself and all my students use, and all of your leads come into that software, like when I have a Google ad come in.

It automatically goes into my software, right? A Facebook ad automatically goes into the management software keeping up with all these leads. The virtual assistant can manage all that, and the virtual assistant can make sure that the follow-up text is going out, the nurturing campaign, and the follow-up emails are going out to these people.

In addition to that, the virtual assistant can do all the skip tracing and can find these motivated sellers for you. The virtual assistant can make sure your Facebook ads are being placed consistently every day. On my land, there’s a magic word, consistent. If you don’t have lead flow coming into your pipeline every day, you have a hobby and not a business.

To have a business, we gotta have seller leads coming in the pipeline every day. Your virtual assistant can make sure your Google ads are up and running, right? Your virtual assistant can manage your email for you. Stop and think how much time you spend on email a day and how heavy are you going.

Delete delete. Your virtual assistant can manage your email for you and only have you look at what you know you want to look at. So it just really frees up your time to where I work in my business because my virtual assistants less than 10 hours a week.

Yep, yep.

[00:48:02] Joshua Smith: 

And then are so these VAs, cause VAs obviously could be in the States, but then, a lot of times when people think of VAs are thinking of VAs in other countries, that it’s more affordable. Are these, VAs in the Philippines, Are these VAs, just located all over?

[00:48:16] Jay Conner: 

Yeah, mine are in the Philippines and I pay on average $10 an hour. And that’s another thing, you don’t have to have a virtual assistant for 40 hours a week. When I started using virtual assistants, I started only using them 20 hours a week, right? So don’t think about how something, how much something costs you, right?

Think about what that investment will get back for you. What’s your return on getting your life back and buying your time back to where you can be working on what’s important? Somebody was asking me on a, I was a panel, a panelist a couple of weeks ago at a real estate investing conference, and they asked me, they said, Jay, What should real estate investors do less of?

I said 90% of what they do is what they should do less of because most of the stuff you do running around doing, you’re wasting time and just filling in the time only work on what you should be doing. So what should you be doing as a real estate investor looking at leads looking at the math and making offers?

I’m not on the phone. I’m not on the phone talking to sellers. I’ve got a full-time local assistant that is my acquisitions. That’s another way I automate. I have a full-time acquisition that’s talking to the off-market sellers to get their information. So what do I do?

Once a day, I go into my software and look at all my new leads and I analyze what I want to offer on those properties. I can look at, like yesterday I looked at seven properties yesterday, and I analyzed all of them in 15 minutes putting the software back out to my acquisitions.

Now the acquisition is negotiating with the sellers. So here’s what I say, be a 3D person, dictate, delegate, and disappear.

[00:50:10] Joshua Smith:

Yeah. And I would imagine that your 10 hours are probably more powerful than if you were working 70 hours. Like meaning, okay, you’re focused only on the things that you should be focused on.

Your superpowers, the highest and best use of your time. Plus you’re refreshed, you’re mentally clear, so those 10 hours are the equivalent of maybe a competitor that’s trying to do all of this working 70, 80 hours a week, and probably even more effective. 

[00:50:34] Jay Conner: 

Yeah, when I started back in 2003, I ran around with my hair on fire.

And I fi I finally figured that’s why I ain’t got much hair left. So I finally figured out, do what you’re best at, do what you love to do what you’re passionate about, and get outta the way of all the rest of it.

[00:50:54] Joshua Smith: 

AI’s been around a long time with chat G p T, it’s, now seems to be accelerating.

Are you using any type of AI when it comes to any of this in your business and, or, do you see that becoming a way to incorporate, whether it be underwriting some of these files, whether it be writing the contracts, whether it be, what are ways that you see that as a real estate investor, you can leverage some of these amazing tools that are coming out?

[00:51:20] Jay Conner: 

Yeah, I think AI is amazing. It’s amazing. Now I’ve got some friends and colleagues who are saying it’s a little scary too, right? As to where all this is going to go. Who knows where all this AI stuff is going to go? I’m having the most fun playing with Chat GPT. Like, I’ll be, me and my wife, Carol Joe.

We’ll be at dinner with somebody and I’ll say gimme a subject or your favorite subject, and I’ll go into chat G p D, and I’ll say Write me a funny song about Joshua Smith and GSD mode and Yeah, that’s right. But AI is such a baby. Such a baby when it comes to how can we use that as real estate investors.

I haven’t started testing using AI yet. I’m sure it’s coming, but I want some of my other friends to be the Guinea pig. Yep. On figuring out how they’re going to use it. And but I’m sure AI is coming as to how we’re gonna be able to use it and, make our business and our lives even more, seamless flow if you will.

Yep. Awesome.

[00:52:21] Joshua Smith: 

I know we’re going long on time here, so I wanna make sure that we talk about your new book cause that’s something new. Absolutely. That we didn’t have a, since the last time that we talked. So what led to the new book? Tell us about it. 

[00:52:32] Jay Conner: 

So I’m so excited. My book is titled Where To Get the Money Now it’s all about putting you on the fast track to private money. The subtitle is How and Where to Get Money for Your Real Estate Deals Without Relying on Traditional or Hard Money Lenders. Now you can get it on Amazon, but they go, don’t go spend your money on Amazon. I will mail you and I, you can’t download it.

I learned a lesson, Joshua, do not get a publisher that will not allow you to put your book in e-format. So the only way you can get this book is if you get the real book. So I will ship it to you. It costs me 16 bucks every time I ship this out. Cause I send it by priority mail, I autograph it for you and we ship it out.

This will go out in less than 24 hours. But just go to www.JayConner.com/Book  We’ll ship it out to you. I think. The site just has you cover shipping and handling for $6 and 95 cents. So anyway, there’s a gift for your audience where to get the money.

Now, fast track on private money www.JayConner.com/Book. Awesome.

[00:53:43] Joshua Smith: 

Anybody that’s watching, listening if you just scroll below, we’ll have that in the description of the show notes. So you can just click on the link and go right there. No, that’s amazing. So then, Last time that we talked, it sounds like you are still doing this cuz you referred to your students, in our conversation today.

So are you still doing the coaching in the schools where essentially you’ve just packaged up everything in your head, all your process, your systems and just giving it to your coaching clients and teaching ’em how to do all this?

[00:54:06] Jay Conner: 

Absolutely, yeah. I’m doing it in person. I don’t do it virtually cause I haven’t figured out how to teach what I do.

But at my live events, I teach all four pillars of my business. How I find deals ahead of other real estate investors. It’s all about private money. The conference is called the Private Money Academy Conference. I teach how I sell any house in three days or less and I teach rehabbing if somebody’s interested in that and I teach the automation.

The third day is all about automation, how I’m running this business in less than 10 hours per week. I’m doing that live event three times a year, in February, June, and October here in eastern North Carolina. And when. You order the book, and you’ll get all the information about how you’re gonna attend that $3,000 event for free with a measly $97 registration fee.

So the book will give you all the information about the conferences as well.

[00:55:00] Joshua Smith: 

Yeah, no, that’s amazing. That’s awesome, man. Again, if anybody’s watching, listen, then we’ll have that link so you can go snag that right away. So then, we talked earlier about, you mentioned that, okay, you don’t think that the market will be hit as hard as we saw during the great financial crisis, and the reason why I ask, and I know that nobody’s got a crystal ball, so it’s very difficult to answer this question, but it’s the number one question I get daily of, what do you think is gonna happen and how do I prep for this?

I always ask our amazing guests, who are tied to the real estate space, their thoughts on, on, again where this is going and how people can be prepared or hedged for whatever that’s, comes to fruition.

[00:55:38] Jay Conner: 

There’s one thing I do know that’s backed and based on statistics, and that is we are going to have a short, regardless of what happens with foreclosures, we are going to have a short, and regardless of what banks do, thank goodness, I don’t care what banks do cause we use private money, but we are gonna have a shortage of inventory for a very long time.

The reason we’re gonna have a shortage of inventory is because of the demand that we’ve got for housing and the number of new housing starts that are going on. There’s not that many going on, right? So because of the shortage of inventory that we’re gonna have for a long time, and this is all backed by statistics.

If you’re not following Jason Hartman. A very good friend of mine, we’re in two mastermind groups together. He is a brilliant economist, brilliant. And he has I heard him do a presentation just a little over a month ago. He’s got all the stats to back it up, Why are we going to have a shortage of inventory?

So as a result, we’re not gonna see a drop in pricing. Of houses, like we saw, way back in 2000, seven, eight, and nine in the early two thousands. It’s because of simple economic economics, supply, and demand. Here in our local area, right next door to us, Joshua, we have a little town called Havelock, North Carolina.

I’m talking not like a super nice area, like bread and butter houses, maybe a little bit less than bread and butter houses. Just three weeks ago there were only three houses over there. And I’m not talking oceanfront Ocean view, I’m talking inland only three houses on the market, less than $200,000.

And they were all crap, right? And I had a house that before Covid would’ve had an after-repaired value of 150,000. I sold it three weeks ago for $234,900. Why? Supply and demand, no inventory, no change in the foreseeable future on that.

[00:57:40] Joshua Smith: 

Yeah. And it makes me wonder two, I mean with, the, just the amount of p now that, we were at a, what, like a 70-year low as far as immigration, but now that is re-seeding back up, what’s it, 16 million, plus, immigrants now coming to our country and then it, with inflation that crushes third world countries, they, start navigating to first world countries.

So then it’s yeah, we’re already if we’re already at this shortage, then you start adding on to a net gain of or a net, another 16 million new citizens coming in, year after year. Could you, it sounds, like it’s just gonna exacerbate. That’s right.

[00:58:18] Jay Conner: 

That’s right. And so that plays into the demand.

Not only do you have the demand and shortage of inventory on houses, but the rental market is also the same way. We have a huge shortage of rentals as well. So that’s all go as long as you know how to find the deals off-market, all that’s gonna play into your hand as a super big advantage if you’re not a real estate investor.

I don’t know a better time to get into it than right now.

[00:58:45] Joshua Smith: 

Yep. Love it. And those that watch and listen again, will have Jay’s information below. But Jay, just in case you’re listening to this, driving down the road, Jay Conner with an e.r. at www.JayConner.com/Book 

All right Jay, truly appreciate your time. This has been amazing catching up with you. This has been a lot of fun, my friend.

[00:59:05] Jay Conner: 

Joshua, thank you so much for having me. 

[00:59:17] Narrator:

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.