Today we have Banjo and Erica Camardelle in the show with us. Banjo and Erica own Salt and Light Property Solutions, Llc., a homegrown local real estate solutions company specializing in providing simple real estate solutions and helping ordinary people navigate the real estate process. Realizing that not all people can or want to sell with a realtor, they have perfected ways to help different kinds of homeowners with their unwanted house problems.
Together with their team, they raised about $1 million in private money by hosting private luncheons. In today’s episode, they give us a glimpse of these private lunches and how they managed to get investors and generate such an amount in private lending.
Key Takeaways:
- The benefits of private lending in real estate businesses
- Money doesn’t simply show up.
- The key to getting private lenders to loan you money
- Start with a “warm market” list, and don’t pre-screen people.
- Things to keep in mind when starting a conversation with potential investors
- What happens in the private lender luncheons?
- It is essential to keep your network growing.
Resources:
- www.saltandlightpropertysolutions.com
- Low Risk, High Returns: How To Earn High Rates Of Return Safely And Securely by Banjo and Erica Carmadelle
Check out my book: 7 Reasons Why Private Money Will Skyrocket Your Real Estate Business and Help You Build Incredible Wealth!
Get it here for FREE: www.jayconner.com/moneyguide
Timestamps:
0:01 – Raising Private Money with Jay Conner
1:12 – Today’s Guests: Eric & Erica Camardelle
5:11 – Real estate investing: 13% sell with terms.
08:32 – Jay’s Free Money Guide: https://www.JayConner.com/MoneyGuide
13:52 – Retirees lose money in retirement investments.
20:40 – Advice For New Real Estate Investors: Make A Contact List, And Educate Potential Investors About Private Money.
21:55 – Approach Warm Contacts; Discuss The Private Lending Program.
27:36 – Private Lender Luncheons: Educate, Network, And Discuss Goals.
31:16 – Networking Is Crucial For Reaching New Markets.
33:33 – Having Private Money Can Quickly Lead To Deals.
35:18 – Connect With Eric & Erica Camardelle: www.SaltAndLightPropertySolutions.com
How We Raise $1.1 Million Of Private Money At Lunch!
Jay Conner [00:00:01]:
Welcome to another amazing episode of Raising Private Money. I’m Jay Conner, the private money authority, your host, and I am so excited that you have decided to join in and listen in or watch this episode because, on this episode, I’ve got some dear friends of mine coaching clients that have already raised in a short two and a half years, $2.9 million in private money. That’s almost right at $3 million. And check this out, over $1 million of that private money they have raised directly by using and having and hosting private lender luncheons. So we’re going to dive deep in this episode on exactly what our private lender luncheons are and how you, too, can utilize this strategy to raise millions of dollars in private money for your real estate deals. Now, my guest, this dynamic duo, the guy retired from the railroad, working for the railroad in a short, I guess it was about a year. I’ll get him to remind me when we bring him on when we started working together, he’s now he and his wife full-time in real estate, and they live in this little teeny tiny town called Poplarville, Mississippi. Population 3700 people. Put your seatbelt on. Don’t go anywhere and listen. You’re about ready to meet my good friends Banjo and Erica Carmadelle right after this.
Narrator [00:01:35]:
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.
Jay Conner [00:02:16]:
What’s up Banjo and Erica?
Eric Camardelle [00:02:18]:
Hey, what’s going on, Jay? Good evening, brother.
Jay Conner [00:02:22]:
My Lands, it’s so good to see you here. Thank you for joining me here on the show, Raising Private Money. And did we have a fantastic time last week at the Mastermind and Live event here in eastern North Carolina?
Eric Camardelle [00:02:35]:
Absolutely. It was great, man.
Erica Camardelle [00:02:36]:
Yeah, it’s always so energizing to go back over there.
Jay Conner [00:02:39]:
Yeah, for sure. Well, I want us to dive in today on today’s episode about private money, as in using and how you all have used private lender luncheons to raise so much private money so quickly. But before we dive into using that strategy and how and why that’s worked so well for you, take us back a couple of years. What was your real estate investing business? What did it look like before private money?
Eric Camardelle [00:03:14]:
So before private money, it was very tough to get deals simply because we didn’t have a bunch of money. Everybody mostly wants cash, and so when we’re on the phone with these people, if they weren’t open to some sort of terms, it’s pretty much a no-go deal, especially since we were working mostly with Fizbo. So there’s a lot of calling out a lot of phone time, a lot of negotiating. And when we were hitting it hard, we were still tracking about one house per month. We didn’t do it for long, though, but when we were hardcore at it, we were still tracking one house per month doing it that way. But we were relatively shackled to the terms of business because we didn’t have the capital to just go out and buy a bunch of houses.
Jay Conner [00:04:03]:
Well, now tell everybody, what do you mean when you say you were shackled to the terms of business?
Eric Camardelle [00:04:10]:
So basically, even if I were to find a seller that wanted cash and it was a decent deal, this was before I knew a bunch about wholesaling as well. We couldn’t buy the house if it was a $200,000 house and they wanted 130 for it or something like that, and we needed about 20 in repairs, it wouldn’t work because we didn’t have the capital. So I would then ask them if they were open to some sort of investment sale and just explain to them that means we’ll pay you monthly until we can pay you off in full. And most of them say no, there are very few of them that are open to that kind of terms.
Jay Conner [00:04:51]:
Yeah, I’ve reviewed Carol Joy and me, we’ve been investing in real estate here in eastern North Carolina full-time since 2003. And so, like you guys, I’ve reviewed thousands and thousands of property lead sheets where we have talked with an off-market seller, gotten information on their property, get their story, what’s their motive for selling. And then I’ll come down. If someone has a mortgage, the first way I want to buy it is I want to buy it subject to the existing note. That is, they sell me the house and they agree to leave the mortgage in their name, I’m going to make the payments or seller financing. So my experience, after reviewing thousands of property lead sheets, is only 13% of a for sale by owners will sell to me creatively. The other 87% require all the cash. And I’ve heard it said so many times, I’ll say, well, I just want to do the terms business, and I don’t need private money for the terms business. Well, that’s your business decision. If you only want 13% of the deals out there from the Fizzbos, of course, if you’re buying anything in the Multiple Listing Service or bank-owned properties or anything like that, of course, you got to have all the cash. So does that percentage sort of match up to what you all experience has been there in Mississippi?
Eric Camardelle [00:06:23]:
Yeah, roundabout, that sounds about right. And then even if you were trying to go traditionally with a bank, now you’re dealing with all kinds of different red tape people in the middle, all kinds of different fees, and your motivated sellers are going to somebody else. They’re not sticking around for 45, 60 days waiting for you to come through, especially if you’re having to rely on a traditional bank to get it done. So the cash is where it’s at, and private lending is a way to get capital for your business and a way for private lenders to gain a bunch of value as well, especially in the market today.
Erica Camardelle [00:06:56]:
Yeah. What I really love about it is that we’re able to meet the seller’s needs. If they want terms deals, sometimes that works well for the seller, but sometimes they need the cash fast. And so it’s just really good that we can just meet them wherever we need to help them.
Jay Conner [00:07:14]:
Yeah. Countless deals that I can think of where I was negotiating or my acquisitions were negotiating with a seller. And if you didn’t have all the cash, you’re just going to miss out on the deal. So let me ask you all a question. Why is it you hear from some folks their advice is, and it just drives me crazy, their advice is, oh, just get the house under contract. Get the house under contract, the money will show up. Did you ever hear that?
Eric Camardelle [00:07:49]:
I’ve heard it a few times, but it doesn’t make any sense.
Jay Conner [00:07:52]:
It’s like, where is it going to show up?
Eric Camardelle [00:07:54]:
Right? Right.
Jay Conner [00:07:57]:
I mean, just think about how more confident people, new real estate investors particularly are, how much more confident they’re going to be on making more offers when they’ve got the private money burning a hole in their pocket. Well, Banjo and Erica, let’s get everybody plugged into how to get private money burning a hole in their pocket.
Eric Camardelle [00:08:18]:
All right.
Jay Conner [00:08:19]:
Want to give it away for free right now? My money guide. You can download this. It’s an ebook. It’s called Seven Reasons Why Private Money Will Skyrocket your real estate business. If you want to get on the fast track to getting private money, simply get right on over to www.JayConner.com/MoneyGuide. And you can download that right away www.JayConner.com/MoneyGuide. So, Erica, Banjo, I hear this all the time. I hear from new real estate investors, who in the world would loan why in the world would a private lender loan me money? And I’ve never raised private money before. So, first of all, did that go through your all’s minds before you started raising private money?
Erica Camardelle [00:09:20]:
Absolutely.
Eric Camardelle [00:09:21]:
Sure. Right.
Jay Conner [00:09:23]:
So I went through your mind, I’ve never raised private money. Why would they loan me private money? So walk us through those steps. How is it that you were able to get private lenders to loan you money and you’d never done it before?
Eric Camardelle [00:09:39]:
The main reason is that they trust us. It’s our warm market. They know what kind of people we are, whether it be flipping houses or in real estate or at church or at our house, or at a birthday party. They just know what kind of people we are and they’re in our warm market. The second most important thing, I think that all my private lenders want is security. And the fact that we secure the note with an actual piece of property with a large equity cushion really helps them make that decision, especially with the high rates of return.
Jay Conner [00:10:15]:
Yeah. What advice would you all give a real estate investor? Whether they be new or not, they’ve never raised private money. Given your experience and how you went about doing it, what advice would you give? I mean, what’s the first step in getting this private money thing going, and what kind of process would you advise they need to have in place to be successful in doing it?
Eric Camardelle [00:10:44]:
I would say the first step would be to get a list. Make a list of people that you know and make sure you’re not prescreening people you have no idea who has a retirement account or liquid capital or maybe a future investment coming, freeing up, or something like that. So don’t prescreen anybody, but make a list. Make a big, extensive list.
Jay Conner [00:11:07]:
Doctors, where would they get this list from? Make a list of, like, potential private lenders.
Eric Camardelle [00:11:14]:
Okay. Basically, you can look for it on your cell phone and your Facebook and, as you say, Jay, your real Facebook friends. So Erica and I first started raising money. One thing I did was I looked at my Facebook account, and I also looked at my cell phone, and she looked at her Facebook account, her cell phone. I like calling people and talking to people. Erica is more along the lines of, let me just message them. So she would message people on Facebook, and let them know that because a lot of people didn’t even know that we were in real estate nowadays. So she would let them know, hey, I don’t know if you knew or not, but we’re doing real estate, and we got a phenomenal private lending program. Kind of go over it just a little bit to see if they were interested in it.
Jay Conner [00:11:54]:
And those who were, let’s make sure everybody understands this. One of the big keys to you all having such phenomenal success raising millions of dollars in private money pretty quickly is you weren’t reaching out initially, and you may still not I don’t know you’re not reaching out to do business with people that are already loaning money out.
Eric Camardelle [00:12:22]:
No.
Jay Conner [00:12:22]:
You started by so who are you reaching out to? Right. If they’re not already loaning private money, then who in the world are all these people, and what do you do with them?
Erica Camardelle [00:12:34]:
That’s the cool thing about private lending is that it’s just ordinary people. So it’s friends, family, people that we meet in different social clubs, birthday parties, and the gym. So we’re finding that it’s just ordinary people who are having trouble finding simple ways to get high rates of return safely and securely. And they are thrilled when we tell them about our program. So it’s just so important that we’re getting the word out because when we first started, people didn’t know what we were doing, and there’s only one way for them to know, and that’s to tell them. So just getting the word out, letting them know what awesome program we have has really made a difference.
Jay Conner [00:13:13]:
So you’re making your list. So to recap what you said, your advice, is don’t rule out anybody, right? Because you don’t know what they have. Is it a good idea or not necessarily? Is it a good idea to start making a list of retired people on your list? And if so, why?
Eric Camardelle [00:13:33]:
Sure, because retired people have a 401K or an IRA that they had with their former company. And let’s say you finally get to retirement and all of a sudden the market is taking a dive like it did last year. So many people have told me that they’ve lost tens of thousands of dollars in their four hundred and one K and IRA. I was speaking with a new private lender just two days ago and he doesn’t know what to do because his IRA is taking a dive. And I mentioned this private lending thing to him and called him on the phone. Like I was telling you, he was probably on my list of people that I know. And a year and a half, two years later he remembers that. And he called me up and he was kind of telling me about his situation. And I said, Man, I can do better than that. He said, well, that’s why I’m calling you.
Jay Conner [00:14:21]:
Well, it’s funny, just this past weekend after church, Carol Joy and I went out to dinner with some good friends of ours that we go to church with, and she’s a realtor and he works for Civil Service over at Cherry Point, and he is 50 years old and he’s got a little over excuse me. He had over $530,000 in his retirement account from working at Civil Service last year. There’s more than one story or take away from this story. So anyway, he says after church this past Sunday, he said my account has now dropped $100,000 in the past twelve months. He says I got to do something. He says I got to get it out of there.
Eric Camardelle [00:15:25]:
Yes sir.
Jay Conner [00:15:26]:
And interestingly enough, he met me for coffee and he had a friend that he works with at Civil Service as well. And my good friend had heard about my program, but really didn’t have the motivation or a need to start investing with us in our private lending program, but his friend did. And so I met him at Starbucks. This was probably six months ago. And so we sit down at Starbucks and so I’m telling my friend’s friend how the program works and et cetera. So here we are, six months down the road, and my friend invited his friend because it was his friend that had a need. Now my friend six months down the road is saying, I’ve lost over 20% in my retirement account, and now I got to do something. So there are two or three different lessons from the story that you all are sharing and that I’m sharing. Number one, a lot of times private money does not happen overnight, right?
Eric Camardelle [00:16:31]:
That’s correct.
Jay Conner [00:16:32]:
It’s a lot of planting seeds. You never know when that seed is going to take root. So that’s not necessarily overnight. I mean, you all have probably had some private lenders, people in your warm market that you have an association with that you’ve taught about private money. They didn’t come around until, what, a year later? Two years later, sure. Right. Erica, tell everybody about your daddy. And by the way, congratulations. You all are now a best-selling published authors. I don’t know if you got your book handy. You should certainly talk about the book that you’ve got published, but yeah, Erica, your own dad took a while to come on board, right?
Erica Camardelle [00:17:16]:
My dad took a very long time to come on board just planting those seeds. I guess I would always speak to my mom on the phone and just kind of keep her updated with what we’re doing, just normal conversation. And one day I said, hey, Mom, we’re publishing this book. And she’s like, okay, that’s nice. And then the next day I called is just everyday conversation. I call, my dad, answers the phone, and he says, so tell me about this lending program you have. Can you give me some more information? And we invited him to the luncheon, and then he pledged the money.
Jay Conner [00:17:51]:
There you go. What’s the name of your book? Because people can find it on Amazon. And the book is written that teaches people that want to be passive investors how they can get high rates of return in this private money. So tell everybody about your book.
Eric Camardelle [00:18:06]:
It’s called Low Risk, High Returns, and it’s exactly what you said it is. It’s all about our private lending program. And it kind of explains how private lender lending works. Who a private lender is how private lenders are protected, and how we run our private lender program. And it serves two purposes. One purpose is if private lenders who are interested in becoming private lenders can learn a lot about it. And then also real estate investors who want to learn how to get some private lenders can also learn some things from it.
Jay Conner [00:18:39]:
So I’m going to put you on the spot here. So you want them to go to Amazon and get your book, or can they just contact you and you just mail them your book for free?
Eric Camardelle [00:18:52]:
Yeah, either way, is fine. Contact me www.SaltAndLightPropertySolutions.com. Or you could just go to the main website or yeah, it is on Amazon as well. So, either way is fine.
Jay Conner [00:19:05]:
All right, so people can get your book at www.SaltAndLightPropertySolutions.com again, that’s www.SaltAndLightPropertySolutions.com. Why and how did you name your company www.SaltAndLightPropertySolutions.com?
Eric Camardelle [00:19:28]:
So salt and light property solutions. If you’re a Christian and you read your Bible, you already know, but it comes from Matthew, I believe it’s chapter five, verses 13 through 16, where Jesus talks about, we are to be the salt of the earth and we’re to be the light of the earth. So just like you wouldn’t take a lamp and put a shade all the way over it so it doesn’t even give light, you wouldn’t do that, us being Christians. So I did ask my pastor, though, before I named my company, that I didn’t want to do anything wrong in the eyes of God. I wanted to actually glorify him through this. And quite frankly, we’re all human. We all have what you call, temptations and stuff like that, to have a worldly perspective instead of an everlasting perspective. And quite frankly, naming my company has really blessed us because it holds us accountable when we’re operating.
Jay Conner [00:20:21]:
Well, that’s a beautiful story of how you came up with your company name, and yeah, Matthew, chapter five. That’s straight from the Sermon on the Mount that Jesus was teaching. Question and answer for the benefit of new real estate investors, people that are interested in getting their first deal using private money. We know having the money on hand is what’s really going on out here in the real world. What advice would both of you give to a new real estate investor that’s never raised private money? I mean, what should they do? So you started answering the question, make a list. So make a list from your contacts. And so you got that list put together. Retired people, whatever, people that you really know. So they got their list put together. From your own personal experience of raising private money, what do they do with that list next? For example, how do you even start a conversation with I mean, my guess is all this $3 million you got in private money. My guess is none of these people had ever heard of private money. None of these people had ever heard of self-directed IRAs until you put on your teacher hat and you taught them. Is that right?
Eric Camardelle [00:21:43]:
Yes, sir.
Jay Conner [00:21:44]:
So how do you start conversations with potential private lenders that don’t even know what it is? How do you even get that conversation off the ground?
Eric Camardelle [00:21:55]:
It might seem like it’d be a tough thing to do, and possibly in the beginning, it was, especially if you’re a brand new real estate investor. But the first thing I would say is just have a small conversation with them, chitchat with them for a little while. Ask them how the dog’s doing, how the kids are doing, or whatnot. I mean, these are all your warm markets. You know them. Call them up and be yourself and then ask them or basically let them know. Not sure if you know this or not, but we’ve been doing real estate lately, and I got a phenomenal private lending program. So then again, you have to make sure you establish an actual private lending program and make sure you know it very well in case they have any questions. But obviously, they’re probably not going to know what private lending is. And if they ask you what it is, you basically say, well, you might not be interested unless you answer yes to the following question. And the question is, do you have any retirement accounts or liquid capital or liquid investment capital that are not getting you high rates of return? And the key here is safety and securely. And if they answer yes to that question, then you would want to either explain to them how your private lender program works, or if you’re doing, like me, and Erica, have done probably eight times by now, invite them to your next private lender luncheon so you can take a real deep dive into your private lender program.
Erica Camardelle [00:23:12]:
Yeah. And so Eric usually does the phone method. He likes to call people up and speak to them. I’m more of an introvert, indirect method. So a lot of times I’ll either send a text message or contact them on social media and just say, hey, do you know someone? Because maybe some people might feel like you’re pressuring them a little bit. Maybe if you’re direct with them, at least that’s just my thoughts. So if you say, hey, if you have a friend who has some funds that they aren’t making a high rate of return, I’d love to tell them more. So that way they don’t feel so pressured to give you a yes or a no. And sometimes they say, yeah, me, I’d love to know more.
Jay Conner [00:23:53]:
Love it.
Eric Camardelle [00:23:54]:
I think it’s important, too. Jay’s private money is no question, really blesses us and really benefits us in our real estate business. As a new investor, you might have a tendency to do the traditional way. When you go to the bank, you got to beg for money and please, please help me, help me, help me. But what you really got to realize as a new investor who’s raising private money, these private lenders that are coming on board are not just doing it because they love us and they want to help us. They’re doing it because we’re providing real value to them. You cannot find an investment. I mean, maybe you can. I don’t know of anywhere you’re going to get I don’t know. Right now, we’re given 8% to 10%, depending on the deal, and it’s secured by a piece of real estate. You can go put your hands on it if you want to. You know, the people that you’re investing with, they really love that. And these people that we’re dealing with, most of them, they’re losing money. They’re not just not getting high rates of return. Right now, they’re actually losing their principal. And as you know, you don’t lose any principal when you’re doing private lending. Your principal stays the same. You just make high rates of return. And so it’s a phenomenal thing that we’re doing for our private lender.
Erica Camardelle [00:25:15]:
And I think that’s when it really clicked for me and became a passion of ours. I realized that we were helping the community by fixing up the houses. We’re helping people who can’t usually get a mortgage get into a house sellers, we’re helping them with their house issues and then we’re helping these private lenders get high rates of return. And when I realized that we have team members now that we’re helping with jobs and so when I realized that our whole business is built around helping people, it became such a passion of mine that this isn’t work, this is us, this is what we do. And I think that’s what’s really made us unstoppable.
Jay Conner [00:25:51]:
Yeah, that’s beautiful. Well, I mean, you’re making an impact, you’re making a difference, you’re giving back to the community. And Carol, Joy, and I, over the years, have received thank you notes. I mean, we’ve got 47 private lenders, and we’ve received handwritten thank-you notes as to how we have actually changed and made a huge difference in people’s retirement years. I mean, we’ve got one private lender, he and his wife are in Mississippi. They have over a million dollars with us between their liquid capital and their retirement funds. And just last year they made between 70 and $80,000. Yes sir, in some of its tax-free, tax-deferred money. Some of it was ordinary income through private lending. But they have told us repeatedly, Jay and Carol Joy, you have changed our retirement years. And stop to think about that, they’ve changed our real estate investing business, doing deals I couldn’t do if I didn’t have the private money. We’re changing their retirement years. And of course, as you said, this just isn’t for retired people. I mean, they can use their retirement funds, they can use their investment capital or what have you. Well, there are all kinds of ways to raise private money. What is your all favorite way to raise private money? I think I got a guess as to the answer.
Erica Camardelle [00:27:26]:
We love to do private lender luncheons. Those are absolutely fun for us. I like to set them all up and get the people there and see them nice and good food.
Jay Conner [00:27:38]:
Well, give us some highlights. Somebody that’s listening has never hosted a private lender luncheon. What is it and what happens at the luncheon?
Eric Camardelle [00:27:49]:
So private lender luncheons are a way to get a handful of people or 10, 15, or 20 people together who are interested in private lending. They like the concept, they just don’t understand it enough. Or they might be on the fence. Possibly. Basically, it’s people that have said, yes, I’m interested. Or quite honestly, sometimes it’s just people who are hungry for lunch because we invite a lot of people who aren’t interested in private lending and they want to just come eat and hang out with us because they’re part of our warm network and by all means come on down and eat some lunch with us. But we sit down, we feed them some really good food and then we network a little bit. I have my team members there and my extended team members. So we got our attorney, our CPA Realtor, our acquisitionist, and the whole Gamut project manager and everybody. And after they’re almost done eating I’ll get up there and I’ll throw on the private lender presentation and I’ll explain to them in detail all the facets of private lending right there. And then they’re able to sit down, kind of absorb all the information. I give them pens and pads so they can write down their notes. And then afterward I invite them to a confidential one on one conversation so that way we can dive deep into their particular situation and their particular investment goals and see if we’re a good fit.
Jay Conner [00:29:17]:
Do you ever feel like you’re selling, chasing, begging, persuading? Because when I first started out I always remember it. My very first private lender, a potential private lender. He wasn’t a private lender yet I approached him, I was sort of nervous about it because I had never done it before.
Eric Camardelle [00:29:38]:
Right.
Jay Conner [00:29:41]:
But I learned quickly I can’t be rejected if I’m not asking for anything. So talk about that a little bit.
Eric Camardelle [00:29:49]:
Yeah, we don’t pitch a deal or go out and get private lenders who are already established or anything like that. So it’s more along the lines of us basically just teaching our warm market and the public people that we know and trust how private lending works, what our private lending program looks like. And then if they raise their hand to learn more then of course we’re going to teach them some more. And that’s just basically organically how it works. We don’t find ourselves out there, I guess asking for money per se. Most of the time we’re out there teaching people how private lending works and once they really realize how it works and they’re educated about it a lot of times I get the answer well, how can I lose, sign me up type thing. This doesn’t be a true type of thing.
Erica Camardelle [00:30:44]:
We want it to be where it’s a win-win situation. Not only are we winning by getting their private lending funds they’re winning by getting the interest. We want them to be just as happy as we are.
Jay Conner [00:30:56]:
Absolutely. Well now you live in this town, Poplarville of 3000 to 4000 people. Small, small town. And you mentioned earlier you’ve already done eight private lender luncheons. After the first one, two, or three luncheons I would think you pretty much exhausted your cell phone contacts and your Facebook friends. How do you keep finding people to fill up a private lender luncheon? You already invited everybody you knew the first two or three.
Eric Camardelle [00:31:33]:
So we know a lot of people. How many people do you think were at our wedding?
Erica Camardelle [00:31:37]:
I don’t know. I’m not sure. Okay, 300.
Eric Camardelle [00:31:40]:
I think it was around 300. That number sounds familiar. So we know a lot of people. We have a big family. Between the both of us, we have a lot of family and then, of course, some friends. And what needs to happen when you run out of that warm market list are the people that you already know is you got to get good at making new friends. And in business, you call that networking. And quite honestly, when I first started this business and was told about networking, had no idea how to do it, why am I going to do it? And really what it even is? But you really learn fast once you become an entrepreneur and you start becoming part of these different organizations like the Rotary and networking business referral type organizations, you got all kinds of them out there and then you start realizing the real, I guess the need to network as an entrepreneur. Otherwise, you don’t have any other market to reach out to for anything. Whether it be a house deal, sellers, private lending, anything.
Jay Conner [00:32:45]:
Perfect. So the way you keep filling these private lender luncheons is you just keep growing your network.
Eric Camardelle [00:32:51]:
Absolutely. That’s it.
Jay Conner [00:32:53]:
Well, and also if you have a private lender luncheon scheduled on the calendar, you got the venue reserved, you got the food ordered and your luncheon is not filled up yet with 20 or 25 people, you may find some creative ways to get it filled, right?
Erica Camardelle [00:33:14]:
Absolutely. I make friends very easily when I started writing when I planned that lunch and I’m like, I am not going to have only five people here. Let’s see who we can make friends with and feed and get that support.
Jay Conner [00:33:27]:
Yeah.
Eric Camardelle [00:33:28]:
It’s the same kind of feeling you get when you actually have private money sitting on the shelf. If you don’t have private money sitting on a shelf, meaning that you have somebody’s private lender funds and they’re counting on you making them high rates of return just like you said you were going to do. And it’s sitting there in their bank account earning either nothing or close to nothing and it’s up to you to go find a deal. It’s amazing how quickly you’re going to find a deal. And it’s the same thing when you have a private lender luncheon and maybe one or two people drop out. Are you just kind of holding yourself to the fire and scheduling it before you have the seats filled up? We do jujitsu martial arts and stuff like that and there’ll be several people in a gym or just anywhere. Pick a spot that you go and you might notice yourself thinking to yourself, Man, I’d like to go talk to that guy and see what he does and kind of network with him. But the human and the introvert in this, might not have enough motivation to go over there and actually initiate that conversation. But let me tell you what, when you have a private lender luncheon scheduled and you have empty seats, it’s no problem at all. You just walk over there, introduce yourself, and hey, he might not be interested in a private lender luncheon, but that might be the motivation to get over there. But you really never know how you’re going to be able to bless somebody in their life. I mean, that guy might have been an air-conditioned service tech in a certain area where you have a house that needs air conditioning work, and boom, now you create a relationship anyway. So that’s how it works. Yeah, you got to grow your network, for sure.
Jay Conner [00:34:57]:
I love it. So if you are listening to this episode and you are interested in passive investing and you want to learn more about what this private money and the private lending thing is, or, you know, someone a friend, a family member that is just like sort of sick of losing the value in your stocks and mutual funds, like over 20% in the last year. You might be looking for a more reliable and safe place to put that. Backed by real estate. Because when you’re in the stock market, all you got is a certificate. That’s all you got back to it, then my recommendation is to ask and request Erica and Banjo’s new book, and you can get that at www.saltandlightpropertysolutions.com. Banjo. Erica, parting comments.
Eric Camardelle [00:35:54]:
Jay, we really appreciate you having us on the podcast. It was an honor. It’s exciting to be with you again, even though we were with you last week, can’t Get Enough. And we’re honored and really pleased that you invited us here. Can’t thank you enough. Thank you.
Jay Conner [00:36:08]:
You got it.
Erica Camardelle [00:36:09]:
Erica, thank you so much for having us. It’s always fun sitting down and having a little conversation with you, and hopefully, some people got some nuggets out of this podcast, and we’re just glad that we could help.
Jay Conner [00:36:22]:
You got it. I know they did. Thank you so much for taking the time to join me. Well, there you have it, another amazing episode of Raising Private Money. I’m Jay Conner, your host, here for the show, and you are not going to miss out on this next episode that I have coming up. In fact, I’m so excited about it, I can’t even tell you what it’s about. I’m just going to leave it as a cliffhanger. But anyway, so you don’t miss out on the upcoming episode, be sure and follow me if you’re listening to iTunes. If you’re on Spotify, be sure and follow me. If you happen to be watching on YouTube, be sure and tap click, and ring that bell so you don’t miss out on the next upcoming episode. I’m Jay Conner. So excited that you enjoyed us here, and I’m wishing you a very profitable future by getting all the private money you would ever need or being that passive investor. Getting high rates of return with my friends Banjo and Erica Carmadell. See you right here on the next Raising Private Money.
Narrator[00:37:26]:
Are you feeling inspired by the knowledge you gained in this episode? Then head over to JConner.com MoneyGuide. That’s Jconner.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 JConner.com MoneyGuide to get your free guide. We’ll see you next time on Raising Private Money with Jay Conner.