Episode 95: Accelerate Your Property Deals: Private Money Lending for Quicker Closings and Financial Prosperity

Today, you will meet a dynamic father-daughter investing team, Benjamin Mayo and Cheryl White, who have successfully raised $200,000 in Private Money for their real estate deals!

Private Money lending is a game-changer when it comes to real estate investing. It provides unlimited funds for purchasing properties, allows for quicker closing times compared to bank financing, and opens doors to unique opportunities, such as acquiring REO properties listed by banks and closing within a matter of days.

What makes Private Money lending even more exciting is the level of flexibility it offers for real estate investors. Instead of solely relying on traditional financing methods, investors have the opportunity to work with individual private lenders, who receive a higher rate of return on their investment.

This means that investors can focus on finding properties and securing deals while the private lenders enjoy a passive income stream.

During the episode, Jay, Ben, and Cheryl delve into the specifics of Private Money lending, the benefits it brings to investors, and the steps to successfully raise Private Money.

They will discuss the level of protection for private lenders, emphasizing that they receive the same safeguards as a bank. The benefits of Private Money for property purchases, the challenges of finding buyers for owner financing deals, and the speed and efficiency of closing deals with Private Money compared to traditional bank financing.

We’ll also learn about the personal experiences and success stories of our guests and how they have built a network of private lenders.

So, if you’re a real estate investor looking to level up your game with Private Money, this episode is a must-listen!

Gain valuable insights from industry experts, and you too shall achieve financial freedom!

Join Jay Conner’s Private Money Academy Conference: https://jaysliveevent.com/
On October 25 – 27, 2023 at Atlantic Beach, NC


0:01 – Raising Private Money with Jay Conner

0:02 – Today’s Guests: Benjamin Mayo & Cheryl White

05:23 – The Bank shut down funding, leading to private lenders.

07:22 – Discover Jay’s Private Money Lending Program

10:25 – Passive Private Money Lenders Love Real Estate

13:30 – Ben Mayo, author of “Lend Smart and Grow Rich” – www.Amazon.com/Lend-Smart-Grow-Step-Step/dp/B0C1J6PYLD

18:28 – You Need Private Money In Your RE Business

20:49 – Why Jay Loves Working With Private Money Lenders

21:51 – Jay’s Free Money Guide: https://www.JayConner.com/Book

23:53 – What Is Private Money?

27:08 – Connect With Ben & Cheryl – https://www.BMNCHomeBuyers.com

Connect With Jay Conner: 

Private Money Academy Conference:

Free Report:

Join the Private Money Academy:

Have you read Jay’s new book: Where to Get The Money Now?
It is available FREE (all you pay is the shipping and handling) at 

What is Private Money? Real Estate Investing with Jay Conner

#RealEstate #PrivateMoney #FlipYourHouse #RealEstateInvestor

Accelerate Your Property Deals: Private Money Lending for Quicker Closings and Financial Prosperity




Jay Conner [00:00:01]:

My guest today on raising Private Money, well, they’ve raised already $200,000 in Private Money for their real estate deals. Well, this is a father-and-daughter team. Now the father has been investing in real estate for over 25 years, and his daughter just joined him recently a few months ago to, be in this world of real estate investing as a father-daughter, real estate investing team. Well, the daddy now, is a nationally published author. His book is titled “Lend Smart And Grow Rich: Lending Your Way To Financial Freedom”. His daughter is a certified life coach with decades of experience. She has helped others push beyond self-doubt, negative thinking, and internal dialogue to identify their God-given talent to live a life of purpose and unlimited possibilities. In addition to that, the daughter of this dynamic duo is a deaconess in the church who looks for opportunities to encourage, inspire, and motivate god’s people. Now the father in this team served in the United States Army as a communication center specialist back during the Vietnam War. Now his real estate investing career began back in 1995 investing in single-family properties. Now in addition to real estate, he’s invested in stocks He’s invested in stock options, and he has got his education as well. He’s a student of Ron the Grand. He’s a graduated master. and real estate investing. And both of them are members of my Platinum Plus program and my coveted mastermind community. In just a moment, you’re gonna meet my very, very special guests, Benjamin Mayo, and Cheryl White right after this.


Narrator [00:02:03]:

If you’re a real estate investor and are wondering how to raise and leverage Private Money to make a profit on every deal, then you’re in the right place. On raising Private Money will 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 [00:02:31]:

Well, hello, Ben and Cheryl. Welcome to Raising Private Money.


Benjamin Mayo [00:02:36]:

Hello, Jay. We’re pleased to be here.


Jay Conner [00:02:40]:

Yes. I am so pleased and so blessed to have you all, this dynamic father and daughter team joining me here on the show. And in addition to that, we are Eastern North Carolina fellows and followees and Dickenses here in Eastern North Carolina. So it’s so good to be on here with you all. Now my first question right here off the bat is I want to hear, Ben, Cheryl, What was your now you’ve been investing, Ben, in real estate back, you know, 25, you know, all the way back to 1995. What did your real estate investing business look like before using and having Private Money at your disposal? And how’s it different now that you do have Private Money?


Benjamin Mayo [00:03:29]:

Well, back there then, Jay, we were doing most of our investing well, in the same community, and we received money. We got money from the banks. we were at the bank quite often trying to get money so we could buy real estate. And back there then, I was part of a team. It was 3 of us. And one of the individuals was a doctor. He was a gynecologist. And at that time, you know, he could we could go to the bank and get all the money that we want.


Jay Conner [00:04:04]:

Tell me about it.


Benjamin Mayo [00:04:05]:

It’d be because he was, like, And, from that, we started too big. We went and bought some property and you know, it was, like, 4 or 5 houses with apartment buildings, about 4 doors, apartment building, and and we paid about


Jay Conner [00:04:23]:



Benjamin Mayo [00:04:24]:

for found out by the month later, it should have been a 150. And so, you know, we did not we did not have anyone helping us at that time. We were trying to do it on our own, and we paid the price.


Jay Conner [00:04:39]:

So — Well, what’s the lesson you learned out of that?


Benjamin Mayo [00:04:43]:

is to make sure that when you start doing what you’re doing, make sure you have someone working with you that knows how to do what you’re doing.


Jay Conner [00:04:52]:

in other


Benjamin Mayo [00:04:53]:

words, get a mentor, somebody who’s doing business like you, and that is different. back there than than it is now. Now, you know, I have coaches. I have mentors and our business now is running on we use our private lenders to fund our deals. and all of our deals are secured. Our private lenders are secured, and it’s different than it was back then.


Jay Conner [00:05:23]:

Yeah. Well, you and I have got some in common, Ben, and that is, you know, the 1st 6 years that Carol Joy, my wife, and I were in this business. the 1st 6 years, we started full time back in 2003, And from 2003 to 2009, like you were talking about, we relied on the local bank to fund our deals in course, it was the bank that was making the rules. It was the bank that was setting the interest rate. It was the bank that was pulling my credit and telling me the loan to value and looking at my verification of income and, you know, just really had my hands tied as far as how I could do my business. And I remember it like it was yesterday, January 2009 after being in the business for 6 years. I went to borrow money from the bank from our real estate deals and learned that I’d been shut down with the rest of the world. You know, my banker said, Jay, don’t you know, there’s a global financial crisis going on. I said, no. But now I have a crisis. I can’t fund my deals. Right? But you know, Ben and Shirley were the biggest blessing in skies I’ve ever had in this business. It was a blessing in disguise losing my lines of credit at the bank because I had to find a better way or quicker way and easier way a more profitable way to, get funding for my deals and that’s when I learned about Private Money and Of course, the rest is history. Carol Joy and I now have 47 private lenders funding our deals. And so So that’s what is that what happened? Like, you know, I had a I had I had a pivotal point. I had a turning point in our business. that made all the difference. and that was the bank stopped running, you know, money to me. What was it that happened in your real estate investing business that triggered you to search for Private Money?


Benjamin Mayo [00:07:18]:

Well, back in 2015, I was looking at trying to buy some properties, but we just could not get the financing. So I attended, an event that was put on by a lawn on the ground. And then in that event, I met you And then I heard about private lending. What in the world is private lending? And you explained it, and it may sense that you don’t have to worry about going to the bank. No one is gonna run like you said. They’re not gonna run my credit score. none of that, I don’t have to guarantee, put my name on any documents for the bank. it made perfect sense. That’s when I got connected with you, and I’ve been following you since 2015. And then last year in October, I started to follow you and got involved in your mastermind and your platinum program. and things have been running a lot smoother and a lot better.


Jay Conner [00:08:24]:

Well, it’s just a joy working with you, and you know, seeing all the progress you’re making, the deals, you know, for those of you that are listening to this podcast, we’re visiting here with a gentleman and his daughter that’s got the highest integrity of anybody I know. He does what he says he’ll do. He’s a man of his word. he’s a god-fearing man, and he’s not ashamed to say that just like I’m not ashamed to say it. And we, he like I, and we’ve got a servant’s heart. He leads the servant’s heart. you know, looking after his investors, his private lenders, and creating win-win scenarios. So Ben and Cheryl from y’all’s experience. I mean, you’ve got private lenders now. You’re using Private Money. You’re working with private lenders. What is it about your private lending program that your private lenders like and enjoy? about being an investor with you?


Benjamin Mayo [00:09:22]:

Well, they like the return on their investment. Right now, you know, the banks are paying, I don’t know, maybe 4, 5, 6%.


Benjamin Mayo [00:09:33]:

But we can offer them a much higher rate of return on their investment. And they like being able to just sit back and enjoy that interest payment that’s coming in, and they don’t have to do any of the work. We take care of doing all the work. We go find the properties. we get the deal secured. And then all they do is just send the money to the attorney, and we just close the deal. they don’t have to worry about showing up at the attorney’s office. They just send them money there. The attorney provides the paperwork Everything is safe. Everything is documented. Everything is recorded, and they are protected just like the bank. And that’s one thing that they enjoy. just like any other financial institution, that loans money for real estate, they are protected in the same way, and they love that. And getting that high rate of return.


Jay Conner [00:10:25]:

Yeah. same thing for my private lenders. you know, your private lenders, my private lenders, The private lenders love being involved in real estate, but like you said, private lenders, they don’t want they don’t have any interest in you know, finding deals, negotiating deals, overseeing deals, talking with sellers. I mean, it’s been my experience for my private lenders, been private lenders just wanna sit back and be passive and, you know, watch their accounts grow. Of course, you know, private lenders invest with us either with their investment capital, and or their retirement funds. So, talk about that for a moment, Ben, As to your private lenders, are they using investment capital, or are they using retirement funds to invest with you, or both?


Benjamin Mayo [00:11:15]:

right now, have some doing both, but the majority, are doing it through their retirement fund. and there’s a couple that did a little investment with that capital. And one of them has already been cashed out of a deal. with that capital. but the one who is receiving it in their retirement account, they love that. It’s out there and they just keep loaning me money. We just turned over 1, a couple of months ago, and he’s investing with us again. And so they just enjoy that.


Jay Conner [00:11:53]:

So talk to our listeners a little bit about how is it that An individual can use their retirement funds to be a private lender with you. Are there any I mean, what are the steps involved with that? Are there any tax consequences of their using their retirement funds? Is there any kind of penalties? how does that work?


Benjamin Mayo [00:12:17]:

Well, they are no. If they have their 401k or are from a pension plan, what they can do is transfer that money over to a self-directed IRA. And that transfer, when they transfer directly from their retirement or Ira to a self-directed, There is no penalty. There are no taxes that they will have to pay. And when we fund the deal, We pay all the closing costs. They don’t have to pay any money out of their, capital investment. Their investment stays the same. and we paid the initial cost to get everything set up. And that’s one thing that they enjoy also.


Jay Conner [00:13:00]:

So they don’t have to worry about Well, you know, they don’t have to worry about paying taxes, using those retirement funds because all the returns they get depending on the type of retirement account they’ve got are either tax-deferred or tax-free income depending on the retirement account they’ve got. Right?


Benjamin Mayo [00:13:19]:

That’s correct. Alright. Tax-deferred or either, depending on what type of RA they do have. Alright.


Jay Conner [00:13:30]:

Well, Ben, you’ve become an expert in this field of Private Money and private lending and showing people and teaching people just like you and me, how they can get high rates of return safely and securely, either using their investment capital or using their retirement funds, and you’ve gotten such an expert at this. You’re a national-selling author. Your book is on Amazon., The name of your book is Lend Smart and Grow Rich. Lending your way to financial freedom, a step-by-step guide by you, Mister Benjamin Mayo, tells everybody about this book and how they can get this book on how they can learn how to be a private lender passively involved in real estate and get these high rates of return safely and securely.


Benjamin Mayo [00:14:20]:

Well, just like Jay said, you can get this book on Amazon. If you can, you know, go on to Amazon and just search for this book or either search for Benjamin Mayo and the book will come up and you can get a copy of this book. This book is based on my program of how you invest with me and how you can get how rates of return. It spells out step by step how you can do that. Invest with me. sit back, relax, and enjoy your return on your money.


Jay Conner [00:14:52]:

And I want you to sit back and relax and enjoy the return part.


Benjamin Mayo [00:14:59]:

And that’s what private learners enjoy. Like we said earlier, they don’t have to worry about going out and finding a deal. They don’t have to worry about finding the contract, or the subcontract, we take care of all that. They just sit back and relax and enjoy that money. Once they come in, once a quarter, once a month, whatever they decide. It’s all up to them. How often do they get their, investment?


Jay Conner [00:15:21]:

That’s wonderful. Now I know we have listeners that want to be able to contact you directly. What’s the best way for our listeners to get in contact with you directly, Ben?


Benjamin Mayo [00:15:31]:

Okay. Well, you can contact me, either on my cell phone. I can give you that number. Sure. That’s 252-567-1460. 


Benjamin Mayo [00:15:48]:

They can email me at bmnchomebuyers@gmail.com.


Jay Conner [00:16:03]:

That’s alright. That’s understandable. And for all of you who are listening, yeah, that contact information, of course, will be in the show notes. Now Cheryl, you recently, I mean, you’re a certified life coach. You recently joined, joined in business here with your father, Ben. Why did you decide to come and join the party?


Cheryl White [00:16:27]:

Well, I’ve always heard him speaking about when he has gone to live events. and, you know, Since right now, I am in the market and the job market. So I said, okay. This is a good time. I knew that he needed some help. and he needed some people who could help him move this business forward. So I said, I’m looking for a job now. I’ll help him and to my surprise, I got interested in what this real estate real estate investing can do. so I’ve been excited about learning, and I have so much enjoyed being in the mastermind groups and things with you on our calls and things. So it’s it’s been very, very, very good.


Jay Conner [00:17:14]:

Awesome. So what would you say, What would you say that you’re bringing to the table, Cheryl, as far as your part of the team?


Cheryl White [00:17:23]:

I think what I can bring to the team is Like, my dad is a business, very business minded. I am the one who is, like, just kinda fly by to see that your pants. I am the fun part of this duo here. I’m a real light-hearted I think I can bring, you know, some of that into the space, where somebody does not have to feel like they are. you know, being pressured that they are all business, but, you know, I want this business to be fun, not just for us, but for everybody.


Jay Conner [00:17:59]:

Absolutely. You got you gotta enjoy the enjoy the journey. Go ahead, Ben.


Benjamin Mayo [00:18:04]:

And, one of the things she gonna help me with is that she knows about his, that social media. She’s gonna help me with that and she already told me she told me a few minutes ago she had have you posted anything yet? I said, no. She’s well. I’m a get my bill.

Benjamin Mayo [00:18:25]:

So she’s gonna help me get on social media.


Jay Conner [00:18:28]:

That’s fantastic. Now, Ben, let’s change gears a little bit and speak to our real estate investors who are tuning in here to the show that are interested in getting Private Money themselves. to do deals with private lenders. And, let’s speak to our listeners that, I speak to our listeners that are real estate investors, but they haven’t raised any Private Money yet. They don’t have any, you know, private lenders yet. And I want you to give your comment on this, Ben. I have real estate investors say to me, now and then. Well, you know, Jay, I don’t need any Private Money. I just wanna do terms deals. I just wanna buy, you know, with seller financing on off-market deals. I just want to let you know, subject to the existing note. I don’t need any Private Money in this real estate investing business. What would your answer in your response be to that band if you were to hear that?


Benjamin Mayo [00:19:35]:

The first thing I’ll tell them, is you do need Private Money. Now why?


Benjamin Mayo [00:19:42]:

What’s gonna happen is even though you might be getting some private, you might be getting some money from the backdown. They’re gonna cut you off after about 4 or 5 properties. With private lenders, you can get an unlimited amount of money and you can buy as many bills as you can find. and with Private Money, you’ll be able to close the deal quicker than you will, trying to get money from the bank. and it gets tough sometimes trying to find someone that’s gonna sell your house on terms owner financed. with Private Money, with the REO properties that are being listed, you can with that Private Money, you can go and purchase that deal and close within 7 to 10 business days. And those banks love that. They’re going to work with you, and you will be able to buy properties a lot quicker and probably a lot cheaper than you can if you’re getting finances from the bank where you gotta wait 4 to 5 or 50 days before you can close the deal. 

Jay Conner [00:20:49]:

The list is long, hasn’t it been? Why do I love why do I love working with my Private Lenders? And as I said, we got 47 private lenders. I love working with my private lenders, and they love it. because as you say, they get high rates, return, safe, and secure. I love working with them because as you say, we can close deals so quickly. There’s no limit to the number of private lenders that we can do business with. There’s no limited amount of Private Money we can use. I mean, here on this side of COVID, There’s over $31,000,000,000,000 in cash sitting on the sidelines, and people, quite frankly, don’t even know what to do with their investment capital. Now we have Steve here. that is just a comment. He’s watching us on our live stream going in right now to LinkedIn. Hello there, Steve. Thank you for tuning in. And Steve is saying he’s a real estate investor. He does fixes and flips. Welcome to the show, Steve. That’s what we do. Steve says he’s interested in working with private lenders. Well, Steve, since you asked, I got a gift for you. Ben’s a published author, and so am I. So, my book here is called “Where To Get The Money Now”, with the subtitle, “How And Where To Get Money For Your Real Estate Deals Without Relying On Hard Money Lenders or Traditional Lenders” Steve and everyone that’s listening, you can get my book by going to www.JayConner.com/Book. You can’t even download this. You can’t even download it. my publisher wouldn’t even let me give it out as a download. We mail this to you in the mail. Can you believe, Ben, the post office is still open?


Benjamin Mayo [00:22:42]:

Still open.


Jay Conner [00:22:43]:

Yep. So, I’ll, a lot of graphs in this book for you, where to get the money now, drop it in the mail to you. Steve, and along with anybody else who’s listening here to the show, just go to jConnerjoyc0nner.com forward slash book and we’ll drop that, in the mail to you. so, you know, if you were talking and you’ve done this, of course, Ben and Cheryl, if you were talking to a new potential private lender that had never heard of Private Money, which by the way, all of my private lenders, they never heard of Private Money. never heard of self-credit diarize until I told them about it. Was that The Private Money, your private lenders, and have they ever heard of Private Money?


Benjamin Mayo [00:23:34]:

I think one of them has heard of, it but didn’t know exactly what it was. So I had to explain to them what Private Money was, and I will let Cheryl kind of give an idea of what Private Money is.


Cheryl White [00:23:52]:

So I’m in training right now, Jay. Okay?


Jay Conner [00:23:55]:

You’ve been training. Okay. Well, hey, what better place than on a live podcast?


Cheryl White [00:24:01]:

So, private lending is individuals who lend out their money from the investment capital or, retirement accounts. 


Jay Conner [00:24:18]:

Yeah. So when we’re talking Private Money, we’re not talking any kind of institutional money. We’re not talking about any kind of, hard money. And, you know, I got a lot of friends that are hard money lenders. And, of course, a hard money lender for those of you who are tuning into the show here, A hard money lender is typically most of the time a broker of money that has gone out and has raised Private Money from individuals like we’re talking about. And those individual private lenders invest in the hard money lenders fund and then the hard money lender, you know, loans that out. Whereas when the way we’re talking about doing business here with private lenders and individuals is we’re doing we’re doing just simple one-on-one transactions between us, the borrower, and our Private Money lenders. And, you know, and so that they are what we all call one-offs. These are all one-offs, which means you have a private lender or a couple of private lenders that are funding a deal, and securing their profit. And, you know, Ben, you mentioned this at the start of the show. And that is, you know, you insure myself. We’re not borrowing unsecured funds. Right. We can. We can borrow and see get collateral. So they get the promissory note, of course, but that note is backed by a deed of trust or a mortgage collateralizing that note We named the private lender on the insurance policy as the mortgage g in case there are any claims against that property, then the private lender’s covered. We named the private lender on the title policy as an additional insured in case there are, you know, any, title issues down the road. So, yeah, the private lender gets the same protection as the bank does.


Benjamin Mayo [00:26:12]:

That’s right. That’s right. And that and that’s what a lot of most of them like, they got the same protection as the bank. And, you know, what else could you ask for? You got that same protection and it’s backed by a real asset, a hard asset, a property.


Jay Conner [00:26:31]:

Exactly. Now you mentioned, recently you had a private lender funding a deal and you cashed out on that deal. And of course, you’re paying the private lender back. and you have to pay them back. You’re not gonna keep the money until you have the next deal. Did your private lender want you to just keep the money?


Benjamin Mayo [00:26:52]:

Yes. And right now, they’re considering adding some more to that.


Jay Conner [00:26:59]:

Absolutely. Absolutely. Well, Ben and Cheryl, again, it’s been fantastic having you here on the show. One more time, I want to let all of our listeners know If you’re remotely interested in getting high rates of return on your investment capital or your retirement funds, Ben and Cheryl, highest of integrity. They back all the notes, conservative loans to values, and deeds of trust. So the Gmail address, or rather the website, the website to, Ben and Cheryl is www.bmnchomebuyers.com,  and also, your book. So, Ben’s book name of his book is “Lend Smart Grow Rich: Lending Your Ready Financial Freedom”. And, my guess has been, if someone just contacted you directly, you’d probably give them the book for free.


Jay Conner [00:28:07]:

What is your cell phone number one more time? Nice and slow. And, of course, we’ll have it in the show notes, folks, for you to get up with Ben. But, your phone number one more time there, Ben? 252-567. 1460. That’s fantastic. Cheryl, I’ll let you have the final comments, and then Ben will let you wrap it up. Cheryl?


Cheryl White [00:28:31]:

It’s been great being on your podcast, Jay, and I thank you so much for all the wisdom and things that you shared with us. and I am going to enjoy this ride of working with my dad.


Jay Conner [00:28:42]:

I love it. Ben, your final thoughts.


Benjamin Mayo [00:28:45]:

And I like to say to anyone out there that’s interested in investing in real estate, that the first thing you need to do is to find someone that’s investing in real estate that’s doing what you wanna do. If you wanna buy, sell, and fix up, find that individual, find that mentor, and let them coach you on what you need to do because if you don’t, you’ll pay the price as I did in the beginning. You need a mentor. So get to find your mentor. And Jay calling is the best one that I know.


Jay Conner [00:29:17]:

God bless you, man. God bless you, man. Thank you so much. Thank you. Our listeners and viewers for tuning into another amazing episode of Raising Private Money. I’m your host Jay Conner. And I need your help. If you found this episode inspiring motivating and informational, be sure and share this episode, If you’re listening or watching on YouTube, be sure and click that button that says ring that bell so you don’t miss out on the upcoming notifications. And we also really appreciate your, follow. If you happen to be, listening on iTunes or Spotify, be sure and follow. We are so excited to have you here joining us on the show. Look forward to seeing you on the next raising Private Money, and here’s to taking your business to the next level. Jay Conner, the Private Money authority wishes you all the best. We’ll see you right here on the next Raising Private Money with Jay Conner.



Are you feeling inspired by the knowledge you gained in this episode? Then head over to www.JayConner.com/MoneyGuide.  That’s www.JayConner.com/MoneyGuide  and download your free guide that shares 7 reasons why Private Money will skyrocket your real estate investing business right now. Again, that’s www.JayConner.com/MoneyGuide  to get your free guide. We’ll see you next time on Raising Private Money with Jay Conner