Join Jay Conner every Friday, live on Facebook for Free Coaching Friday where he will teach you strategies that will help you take your real estate investing business to the next level.
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Today’s strategy: “7 Reasons You Need Private Money To Explode Your Real Estate Business”
Timestamps:
0:01 – Get Ready To Be Plugged Into The Money – Free Coaching Friday!
0:45 – What is Free Coaching Friday?
5:09 – Who is Jay Conner?
8:28 – Jay’s new book – “Where To Get The Money Now? – https://www.JayConner.com/Friday
11:18 – “7 Reasons You Need Private Money To Explode Your Real Estate Business”
12:13 – Private money is not Hard Money
15:32 – Fastest & Easiest Way to Get Your First Real Estate Deal
16:56 – Every Private Money Deal Is A No Money Down Deal
18:10 – There Is No Application Process
18:57 – You Can Close Deals Quicker With Private Money Than Any Other Funding
19:35 – You Can Structure You Deals Without Monthly Payments Until You Cash Out
20:27 – There Is No Origination Fee When You Are Borrowing Private Money
20:57 – In Your Warm & Expanded Warm Market You Sets The Rules For Every Private Money Deal
23:24 – https://www.JayConner.com/Trial – join the Private Money Academy
Private Money Academy Conference: https://jaysliveevent.com/live/?oprid=&ref=42135
Have you read Jay’s new book: Where to Get The Money Now?
It is available FREE (all you pay is the shipping and handling) at https://www.JayConner.com/Book
Free Webinar: http://bit.ly/jaymoneypodcast
Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $64,000 per deal.
What is Real Estate Investing? Live Private Money Academy Conference https://youtu.be/QyeBbDOF4wo
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Listen to our Podcast:
7 Reasons You Need Private Money To Explode Your Real Estate Business
Jay Conner (00:07):
Are you a real estate investor and you’re still struggling to get your very first deal because you just don’t have the funding or the money to do the deal? Or are you a wholesaler and you’ve collected some assignment fees, but there’s some deals that you want to stay in, but you haven’t been able to stay in the deals because you don’t have the funding? Or are you a seasoned real estate investor, and you just want to get more funding to do more deals, but you don’t want to rely on banks or traditional funding or mortgage companies? Well, if you answered “yes” to any of those questions, don’t go anywhere because I’m getting ready to plug you into the money. Welcome to Free Coaching Friday. I’m Jay Conner, known as the Private Money Authority. And I’m so excited to be here with you again for another Free Coaching Friday, but what in the world is Free Coaching Friday?
Jay Conner (00:58):
Here on Free Coaching Friday, I share with you at least one strategy often related to private money that will help take your real estate investing business to the next level. I’ve got a free gift for you in just a moment, and this gift will show you how to get a lot of private money very, very quickly. That’s my promise on plugging you into the private money funding. But before we get started here, I’m always very curious and excited to know who is joining us here on Free Coaching Friday. Well, we may already got folks tuning in here. We’ve got Scott Veach all the way from Alabama. Hello, Scott. Good to see you. And there is Dan Mewhorder. Hello, Dan, all the way from Staten Island, New York.
Jay Conner (01:50):
When you’re watching on the live stream right now, or you are watching on the replay, these instructions were all right. Let’s see, we got Denise. Denise, where are you from? Yeah, Denise. All the way, right next door, Denise in Havelock. Again, whether you’re on the live stream or you are watching the replay, I want you to type in the comment bar right now, where you are from.
Jay Conner (02:40):
Anyway, keep it on here, folks. Type in the comment bar where you’re from, who have we got here? Everybody is tuning in and we got Bill from Illinois. We got Wisconsin. Well again, if you just joined on the live stream, type in where you’re from and on the replay where you are from.
Jay Conner (03:22):
Folks, I’m getting ready to plug you into the money with a free gift of private money. When I say something you like, I want you to give me a lot of likes all the way through this Free Coaching Friday. Right after you gave me a bunch of likes, send me a lot of love.
Jay Conner (04:07):
My lands, I need me lots of love on Friday. There’s James all the way from Ohio. Hello, James. Welcome to Free Coaching Friday. Glad to have you. I see all the hearts coming in. Hello there, Tina. Where are you from, Tina? Oh my lands, Tina, you’re up early this morning. Tina is joining us all the way from California. Hello, Tina. Welcome to Free Coaching Friday. Now listen, folks, I need your help. I need your help sharing this education that I’m getting ready to give on private money and real estate investing. So I need you to do me a big favor and help spread this education. Tap your share icon right below the video and let’s get this info out.
Jay Conner (05:01):
So I promised you that I was going to plug you into the money, right? Well, real quick, just in case you’re brand new to Free Coaching Friday, who in the world is Jay Conner? And why am I qualified to talk with you about private money? In a nutshell, my wife Carol Joy and I live right here in Eastern North Carolina in a little, teeny, tiny town called Morehead City, North Carolina. Population, 8,000, our total target market’s only 40,000. We’ve been investing in single-family houses since 2003. We’ve rehabbed almost 450 houses. And the first 6 years we were in the business, I was relying on local banks and mortgage companies to fund our deals from 2003 to 2009. Well, guess what? In January 2009, I got cut off from the banks with no notice, no way to fund my deals. Well, I learned about private money, not hard money.
Jay Conner (06:03):
We’re not talking about hard money. I learned about private money. I learned about private money and in less than 90 days, I was able to raise over $2 million. Today, we have 46 private lenders funding our deals to the tune of about $8 million that we have, that were used from house to house to house, on flipping these houses. So anyway, that was in 2009. Since that time we have not missed out on any real estate deal for not having the funding. And guess what? I’m getting ready to give you a gift right now. Hello there, Elaine. Where are you from, Elaine? Type that in the comment bar. Welcome to Free Coaching Friday. This gift I’m going to give you will show you the same exact tools that I used to get all the private money that I need for my deals.
Jay Conner (06:58):
So in 2011, I started sharing with other real estate investors how we raise money for our real estate deals and how to use private money. Well, if you are like Eric and Erica out in Mississippi, they started working with me a few months ago. They now have about $700,000 in private money that they’re using for their deals since we started working together. Don’t know if you’re like Tammy in New Bern, North Carolina, 30 minutes away. She was a wholesaler when we started working together a little bit ago and she wanted to stay in some deals. She was getting assignment fees. She was a wholesaler. She needed and wanted private money to stay in some deals. We started working together.
Jay Conner (07:55):
She now stays in any deal that she wants to. Doesn’t have to wholesale them all. And then there’s Stu and Harriet up in New York. We started working together recently and they now have one, and they had a hundred houses already in their portfolio. A hundred houses are in their portfolio and they came to me. We started working together. They now have an additional $1,650,000 in private money from us working together. So how does that happen? Well, this can happen to you too. And here it is. I just recently released my brand new book, and I will give it to you for free. It’s called “Where To Get The Money Now: How And Where To Get Money For Your Real Estate Deals Without Relying On Traditional Or Hard Money Lenders.” Just released that recently. It became a bestseller on Amazon right away under real estate investing.
Jay Conner (08:52):
Well it’s 20 bucks on Amazon, 19.99 or 19.95. I’ll give it to you for free. All you gotta do is ask for it. Just cover a couple of bucks of shipping and delivery. I want to give you the URL, the website right now to where you can get this book free that will show you exactly how I get all the private money funding I want for my deals and never miss out. You can get this book for free. It’s on JayConner.com/Friday because this is Free Coaching Friday. And you’ll get the free book. Look, if you think that’s an awesome gift, it’ll show you how I got over $2 million and now you can, too. Hundreds of thousands in less than 90 days. If you think that’s an awesome gift, whether you are watching the live stream or you’re watching the replay, type in the comment bar right now, “I love it.”
Jay Conner (10:37):
So again, if you’re here on the live stream or watching the replay, I need your help to get this education out. Tap your share icon below. And somebody just came in with another ‘I love it.’ And who is? Oh yes. Is that Phylandis Cunningham? Did I say that right? I hope I said that right. All right. Well, let’s get onto the sharing of private money education today. So 7 reasons you need private money to explode your real estate investing business. Now’s the time.
Jay Conner (11:33):
Now’s the time to start taking notes. I sat down 2 or 3 weeks ago and I just brainstormed as to how many different ways and reasons I could come up with to use private money. I actually came up with over 60 reasons to use private money. I’m just going to share the top 7 with you right now. Now let’s go and be clear just in case you’re new to Free Coaching Friday. Private money, I’m not talking about hard money. Private money is not hard money.
Jay Conner (12:30):
I just want to know if you have ever borrowed hard money, type in the comment bar, “Set me free of hard money” if you ever have. I’m just curious. So here’s the deal. Private money is not hard money. Now say I’ve got some really good friends that are hard money lenders. I, say, establish as many relationships as you can with lenders, right? Private money’s not hard money. Private money, you’re doing business. You’re borrowing money from individuals, from human beings, just like you, just like me, right? So you’re borrowing private lenders. You’re borrowing money for your real estate deals from either the private lenders’ liquid investment capital, or you’re borrowing it from their retirement funds. Now there’s an actual item right there in order to attract and raise a lot of private money quickly.
Jay Conner (13:37):
You need to establish a relationship with a good, credible, established self-directed IRA company. I recommend Quest. They’re out of Houston, Texas. They’re fantastic. Now what’s cool about that is individuals that already have retirement funds can transfer existing retirement funds to a self-directed IRA company such as Quest. And then, they can loan their retirement funds out of view and they can earn unlimited returns per year, at least tax-deferred, if not tax-free. Right? So that’s what we mean by private money. And then there’s 3 categories of where you can find private money. Those 3 categories of where do you find it is – First of all, in your warm market or people that you have some kind of relationship with. Secondly, what we call your expanded warm market. How can you expand those connections that you have? And the third category are existing private lenders.
Jay Conner (14:42):
Now in the book that I just offered you for free at JayConner.com/Friday, I go into detail on all of these categories. Let’s see, I just had a comment come in from Phyl. “I have a property right now in the country for 40,000 and the hard money lender won’t touch it. I need to get the money now.” Well, let me get this book to you, Phylandis, so you can get the money now. So the third category are existing private lenders, as to where you find these breadwinners in this book that I will ship to you right away. I go into detail as to how to work with all 3 of those categories of private lenders. So let’s get back to the 7 reasons. The top 7 reasons you need private money to explode your real estate investing business. Write it down, take notes, the 7 top reasons to use private money to explode your business.
Jay Conner (15:40):
Number 1 is, it’s the fastest and quickest and easiest way to either get your first real estate deal or your next real estate deal. And here’s how and here’s why. We all know that we want to talk about terms, buying houses on terms, subject to the existing notes, seller-financing. But in my experience over the years of reviewing thousands of property lead sheets, only 13% of those off-market house sellers will sell to me on terms. What do all the rest of those 87% of people want and require? That’s right, they require all the money. So if you’ve got the money lined up and that’s why I teach and preach the money comes first, get the private money lined up first. I’ll show you in this book on JayConner.com/Friday, how to get the money lined up first and get it lined up quickly.
Jay Conner (16:39):
So then when you are negotiating or you’re talking with a potential motivated seller, you don’t have to miss out on a deal for not having the money. So that’s the number 1 reason that you need private money to explode your business. The second big reason that you need it is that every private money deal is a no-money down deal. What do I mean by that? What I mean by that is when you’re using private money, you don’t have to put any of your own money as a down payment. That’s right. You don’t bring any money to the closing table when you’re using private money the way that I do it and teach you. In fact, what I love about this world of private money is you always not only take no money to the closing table, but you pick up a check every time you buy a house.
Jay Conner (17:43):
I mean, who wants to get paid to buy houses, right? And bring no money of your own to the closing table. So you borrow more than you need to buy the house. Who’s going to do that? Private lenders. I show you exactly how that works in the book. And so that’s, so it’s always a no-money down process, right? So you received multiple checks. You get a check when you buy. You get a check when you cash out. I love it. Number 3, there’s no application process. You’re already approved as the borrower. The reason for that is because private money is like a collateral loan. So there’s no applying to get the private money you’re already approved for. All I gotta do is just get you connected with the private lenders and show you in this book, how it is that you can be attracting it.
Jay Conner (18:44):
So number 1, fastest and easiest way to get your first or next deal. Number 2, you receive multiple checks. Every private money is a no-money down deal. Number 3, there’s no application process. Number 4 big reason is you can close deals quicker with private money than any other type of funding. In fact, all of my offers, I offer that I can close the house within 7 days and you can’t close it there within 7 days, unless you’ve got all the cash or you’ve got all the private money ready and lined up and ready to go. So as a result, I get more offers accepted from the sellers because we got all-cash and we can close in 7 days. So you get more offers, etc. That’s number 4. Number 5, how about this one? With private money, you can structure your deals to where you don’t make any monthly payments whatsoever until you cash out on the deal.
Jay Conner (19:48):
You think that would help your cash flow? I mean, my lands. And so the way that works is you just let the interest accrue and you don’t have to make monthly payments. You can structure your deals to where you’re not having any monthly payments until you cash out. Here’s another big one. Okay. Another big one. And that is, there’s never any origination fees. There are never any origination fees or points when you are borrowing private money.
Jay Conner (20:41):
So that’s going to even increase your profits. And no points that increase your profit. And again, with it being that no points, that ties right in with you not having any down payment to bring to the deal. And then the number 7 reason for using private money to explode your business. And that is in your warm market and in your expanded warm market. Guess who makes the rules of every deal? Guess who sets the interest rate? Guess who sets the length of the term? Right. Well, I can tell you when I was borrowing money from the banks, it was the banks that made the rules and not me. But that’s right, you make the rules. I make the rules. We make the rules on every private money deal that we do. So those are the top 7 reasons for using private money.
Jay Conner (21:40):
Number 1 is the quickest and fastest way to get your first or your next deal. Every private money deal is a no-money down deal. You collect multiple checks. Number 3, there’s no application process. You’re already approved. Number 4, you can close within a week, right? Number 4, close quickly. Number 5, structure your deals to where there’s no monthly payments. Number 6, there’s no origination fees or points. And number 7, you get to make the rules on these deals. So, hey, if that was of some benefit to you, send me a bunch of hearts and a bunch of love right now. If you’ve joined us here on the live stream and you haven’t told us where you are tuning in from, type in the comment bar right now, your city and your state as to where you’re tuning in from. I always look in there where everybody’s tuning in from, just type that in right now.
Jay Conner (22:47):
If you tuned in here on the live stream, well, there you have it. Those are the top 7 reasons. And as I said, I will rush this book out to you, “Where To Get The Money Now.” I’ll ship it right out to you at www.JayConner.com/Friday. And before I let you go, I got one more gift for you that I’m going to give you here on Free Coaching Friday. And that is we have now got, and Dan can tell you cause he’s been in it since day one. We have got a dynamic group of real estate investors that are members of what we call the Private Money Academy membership.
Jay Conner (23:40):
And we go live. We got like almost 300 of us in the Private Money Academy membership. We go live virtually the second and fourth Wednesdays, the second and fourth Wednesdays of each month, we go live for an hour and we share with each other our challenges. We help each other out. I answer real estate investing questions. We always talk about private money. We talk about how we’re finding deals, etc.
Jay Conner (24:37):
So as a gift for all of you, check out the 4-week trial in the Private Money Academy membership. And you can check that out at JayConner.com/trial. In fact, this coming Wednesday at 4:00 PM Eastern Time is going to be our next Private Money Academy live Zoom meeting. All right, there you have it, folks. Enjoyed being here with you on Free Coaching Friday. One last time, send me a bunch of love and a bunch of likes right there. As we’re getting ready to sign off on Free Coaching Friday. If you haven’t yet, do me a favor and help me out. I need your help to spread this real estate investing education, tap your share icon, tap your share button right below the video right now. And let’s see here.
Jay Conner (25:36):
Elaine has got a comment coming in. Elaine’s saying, “Can I ask a real estate question? What do you think of the foreclosure market?” Absolutely, Elaine, I can tell you right around the corner very, very soon, the foreclosure market, there is a huge, huge opportunity, getting ready to open up for us as real estate investors to serve a lot of people. And here’s how that’s going to work. You see, there’s 2 categories of foreclosures. There are all those people that were already in foreclosure when COVID and the pandemic came along last year, March 2020. And all those foreclosures were put on hold, on pause. Then you had all those people that lost their jobs in the midst of the pandemic.
Jay Conner (26:35):
So now they will be going or are already in foreclosure. Well, I’m already seeing it open up and here’s the deal. For bank properties, I mean, there’s going to be a huge opportunity for bank properties. You’re going to want and need the private money to make the cash offers on the bank properties. But in addition to that, you got all these people that will be in foreclosure, ready to lose their house. And you’d come into my world. In fact, we talked about it at the Private Money Academy. You come into my world, I want to teach you how to locate these people that are in foreclosure and help them out. And you profit big time and you help them get back on their feet. And I’m going to show you how to locate these people that are in foreclosure before their house goes to sale at the courthouse. And as I said, Elaine, there’s a huge opportunity right now.
Jay Conner (27:36):
There’s never been a better time to position yourself. All right, never a better time to position yourself with the private money so you can help a lot of people get back on their feet and you profit big time as well, and also make offers on bank on properties. Elaine, that was an excellent question. And I’m so glad that you asked the question. Let’s see here. We’ve got somebody else who just ordered the book. We’ll get it shipped right out. Dan Mewhorder, thank you so much for being on here with me to type those URLs in the comment bar because I sure can’t do that while I’m sitting here. I’m teaching and talking and all that kind of stuff.
Jay Conner (28:25):
Well, there you have it folks. Another episode of Free Coaching Friday. I’m Jay Conner, the Private Money Authority. So anyway, wish you all the best. Thank you for joining me here on another Free Coaching Friday. A Happy Labor Day weekend and remember all those that we should be remembering. Happy Labor Day Weekend. Have a safe, very safe weekend and holiday and continue to pray for the folks and do what you can for the folks in Louisiana that had been suffering with the hurricane coming through. So have a fantastic day, fantastic weekend. Here’s to taking your real estate investing business to the next level. And we’ll see you right here on the next Free Coaching Friday. Have a great one and bye for now.
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