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: “How To Get Private Money Chasing You”
Timestamps:
0:01 – Get Ready To Be Plugged Into The Money – Free Coaching Friday!
1:02 – Who is Jay Conner?
7:13 – Jay Conner’s students’ stories of real estate success
9:16 – Jay’s new book – “Where To Get The Money Now? – https://www.JayConner.com/Friday
12:57 – “How To Get Private Money Chasing You”
13:10 – Mindset
13:44 – Who are the Private Lenders?
14:40 – 3 categories of Private Lenders
15:53 – Become the Educator
19:06 – Private Lender Luncheons
19:53 – Four Things You Need To Tell The Private Lenders
25:14 – 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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How To Get Private Money Chasing You
Jay Conner (00:07):
Are you a real estate investor and you’re brand new and you’re still struggling to get your very first deal funded because you simply don’t have the money to fund the deal? Or are you a real estate wholesaler? And you’ve received some assignment fees and that’s great, but you’d love to stay in some of the real estate deals and make the big profits like 50 or $60,000, but you don’t have the funding for the deals? Or are you a seasoned real estate investor, and my lands, you just want to do more deals and you’re sick and tired of paying high interest rates and you want to get a bunch of private money to do more deals? Well, if you answered “yes” to any of those 3 questions, you’re in the right place. Don’t go anywhere because I’m getting ready to plug you into the money in just a moment for your real estate deals.
Jay Conner (00:57):
Welcome to Free Coaching Friday. I’m Jay Conner, and here in Eastern North Carolina in a little, teeny, tiny town called Morehead City, I’m known as the Private Money Authority. Carol Joy, my wife, and I, we’ve been investing in real estate here since 2003, single-family houses. We’ve rehabbed about 450 houses or so. So here on Free Coaching Friday, where I do most Friday mornings at 10:00 AM Eastern Time, I come on here live, and I share a real estate investing strategy with you to help take your real estate investing business to the next level. So what is today’s strategy that I’m going to share with you? And my lands, we already got people coming in. Tameka, welcome to Free Coaching Friday. Anyway for today’s strategy, I’m going to share with you how to get private money chasing you.
Jay Conner (01:55):
That’s right. So you don’t have to be asking anybody for money. How do you get private money chasing you is what I’m going to teach you after I plug into the money? Well, first of all, before I plug you into the money and the funding for your real estate deals and I teach you the strategy about how to get private money chasing you, I’d love to know who is here on. Hello there, Scott Veach, good morning to you and welcome, Scott, platinum mastermind member right here. So I love to know who in the world is here on Free Coaching Friday. So whether you’re watching on the live stream right now, or you’re watching on the replay, then I need for you to type right here in the comment bar below the video, say hello to everybody, and what city and state you’re from.
Jay Conner (02:46):
I see we got Mark Owens there from Winston Salem. And we got Randy from Virginia Beach. We got Dan Mewhorder there from New York. Welcome, Dan. Again, I want to see who is tuning in. We got Alabama here. So if you’re watching on the live stream right now, or you’re watching on the replay, type in the comment bar right now, the city and state that you are from. Today, I want you to hit the like, the thumbs up, the blue thumbs up icon below the video. And my lands, I’m already seeing a ton of the thumbs up buttons coming. Hello there, David from New Jersey, welcome to Free Coaching Friday. Everybody right now, whether you’re watching on the live stream right now, or you’re watching the replay, give me a bunch of blue thumbs up and let me know you are liking Free Coaching Friday. Right after you do that, give me some hearts.
Jay Conner (03:53):
So go right below the video, go to the red hearts, and everybody’s sending me a bunch of love here on Free Coaching Friday. I need lots of love. Yep, I see them coming right now. Awesome. Again, if you’re just now tuning into Free Coaching Friday, we’ll be plugging you into funding for your real estate deals in just a second. I’m loving the hearts guys and gals, type in your city and state where you are from when you’re watching on the live stream right now or the replay. Now I need your help right here on the upfront part of this training. Every one of you, whether you’re watching live right now, or you are watching the replay. My lands, who in the world is sending me all those red hearts? Oh my lands!
Jay Conner (04:37):
Kenneth James! Hello, Kenneth! Glad to have you here on Free Coaching Friday. I need your help folks, everybody right now, just tap the share icon below your video to help me get this real estate investing education out to as many people as we can. Sherman, Texas. Welcome to Free Coaching Friday there. Kenneth, we are glad to have you. Just real quick, if you’re brand new here to Free Coaching Friday, how in the world am I qualified here to share with you real estate investing strategies? Well, as I said, my wife, Carol Joy, and I. By the way, Carol Joy’s from Texas there, Kenneth. We’ve been investing in single-family houses since 2003. We rehabbed about 450 houses from 2003 until 2009.
Jay Conner (05:32):
I relied on the local banks to fund our deals. And I got cut off from the banks like the rest of the world did in January of 2009. And so I learned about private money. My definition of coincidence is God’s way of staying anonymous. I learned about private money in less than 2 weeks of being cut off from my lines of credit in the banks. I learned about private money. I put my private money program on steroids and we are able to raise over $2 million in less than 90 days. And since that time, January 2009, we have not missed out on a deal for not having the funding. So here’s the deal, I’ve learned about private money. We’ve got about 46 private lenders funding our deals, and I’ve now coached and trained over 2,000 real estate investors across the nation on how to get money for your deals.
Jay Conner (06:29):
So I promised you I was going to plug you into the funding. And right after that, here in just a second, I’m going to teach you the strategy on how to get private money chasing you. Hello there, Chris. Welcome to Free Coaching Friday. If you are just joining us here on Free Coaching Friday, type in the comment bar, your city and state that you’re tuning in from. I always love to know who’s tuning in, whether you’re watching on the live stream now or the replay and Dan Mewhorder. I’m so glad you’re here. I’m going to need your help in just a moment to type some important URLs in the comment bar.
Jay Conner (07:12):
All right. So here’s the deal. If you are like Eric and Erica out in Mississippi, who just a few short months ago did not have any private money. Brand, new real estate investors. And now they have, since starting to work with me and my team, they have over $700,000 in private money. Hey Chris, from Maryland. Glad you’re here on Free Coaching Friday! Anyway, Eric and Erica, they now have over $700,000 in private money. Since we started working together a few months ago, they’re not missing out on any deals. They’ve got the funding or maybe you are like Tammy who lives right here in New Bern, North Carolina.
Jay Conner (08:04):
Anyway, so are you like Tammy, who’s here in New Bern, North Carolina, 30 minutes away? She had been a wholesaler for a couple of years. Started working with me. She now has private money and she stays in the deals. Now she stays in the deal she wants to. She picks and chooses the deal she wants to, and then wholesales the rest because she’s got private money. Or I don’t know if you’re like Stu and Harriet up in New York. They’re very seasoned real estate investors, having been doing the business more than 20 years. We started working together a few months ago. They came to me.
Jay Conner (08:53):
They already had a hundred houses in their portfolio. They now have an additional $1,650,000 in private money. And they’re doing a ton more deals. I mean, they were used to hard money, paying high interest rates. Now we got them plugged into the private money and I’m going to plug you into the private money right now. How am I going to do it? Well, I’m so excited. I’ll let you know if you haven’t heard yet. I just recently released my new book, “Where To Get The Money Now,” and I want to give it to you for free. Now you can pay 20 bucks on Amazon, but I’m going to save you 20 bucks. And I’m going to give you the book for free, “Where To Get The Money Now.” In this book, I will be teaching you step-by-step how to get hundreds of thousands of dollars and even into the millions of dollars in private money.
Jay Conner (09:45):
Hundreds of thousand dollars in private money for your real estate deals. In fact, the subtitle is, “How And Where To Get Money For Your Real Estate Deals Without Relying On Traditional Or Hard Money Lenders.” All right, here’s the URL and, Dan, if you will help me type it in the comment bar below, I’m going to give you all a special URL where you can go and get the book, just cover the delivery. I mean, help me out on the postage, my lands, pick up a book for postage, but I’m gonna give you the book for free. And here’s how you get the book for free, I’ll autograph it. We’ll ship it right out to you within the next 24 hours, 24 business hours. And here it is, go to www.JayConner.com/Friday.
Jay Conner (10:35):
This book will teach you the program, the exact program that I used to attract hundreds of millions of dollars. Right now I have about 7 and a half million dollars in private money that we’re using on our flips right here in Eastern North Carolina. We also do a lot and some of them are rent-to-own and help people get a mortgage. Thank you, Dan, for putting the URL in the comment bar. So look in the comment bar, everybody, right now below. You’ll see where Dan put in the URL. JayConner.com/Friday. I’m going to rush you the private money book right out, and you can start attracting that money for your deals.
Jay Conner (11:32):
By the way, if you think that’s a fantastic gift, first of all, send me a bunch of love right now, whether you’re watching live or you’re watching on the replay. If you like the gift of the free book, and right after you send me a bunch of love, if you haven’t yet, tap the share icon right below the video because I want to give this book away to as many real estate investors as I can. You know, the most popular question that I hear when training other real estate investors is “How do I find the deals and where do I get the money?” Well, right now, you can get the money.
Jay Conner (12:16):
And of course we all hear about terms. Buying on terms, right? Buying pretty houses on terms. And yet we can buy subject to the existing note, seller-financing and all that. But guess what? My experience in talking with thousands and reviewing thousands of property lead sheets, my experience is only 13% of those people will sell to us on terms. The other 87%, they require all the cash. Now I promise you when we started, that I was going to share with you how to get private money chasing you. Now I go into detail in the book, but I want to give you the overview of it right here. Here’s how you get private money chasing you.
Jay Conner (13:12):
Listen, my friends, first of all, it’s mindset. In fact, I have never asked anybody for money. I’ve never asked any private lenders for money and people say all the time, “Jay, well, how in the world do you get all that private money if you’re not asking people for money?” And here’s the secret. First of all, the mindset is we’re not chasing, we’re not begging, and we’re not selling. Let’s be totally clear about who a private lender is or what a private lender is. So we’re not talking about institutional money. We’re not talking banks, we’re not talking mortgage companies. We’re talking about doing business with individuals, okay? We’re doing business with individuals, borrowing money for our real estate deals from people to loan money to us, either from their investment capital or from their retirement funds.
Jay Conner (14:17):
Now that’s a big piece right there. You got to get connected with a representative at a self-directed IRA company. And my book goes into detail as to why that is so important, but over half of mine and Carol Joy’s private lenders are loaning us money from their retirement accounts, right? So we’re doing business with individuals. Now there’s 3 categories of private money or private lenders. There are people in your warm market, people you already got some kind of relationship with or association with. They’re in your cell phone, email addresses, or they’re in your Facebook, LinkedIn. They are, what we call, your own warm market. The second category of private lenders are expanding your warm market. And I actually teach in the book how to expand your warm market. And I say, go to where the money is. The more money you wallow around, the more money sticks to you, right?
Jay Conner (15:13):
And then the third category are existing private lenders. Where do you find existing private lenders? By the way, I recommend Quest, they’re out of Houston, Texas. They are, hands down, the best self-directed IRA company where people can transfer their current retirement funds over there and then loan out to us real estate investors. And also I’ve got the private lender data feed that we update every month. That we get every existing private lender loan in the data feed every month with their contact information, etc. So back to the topic, how do we get the money chasing us? We’re not begging, selling, chasing. Here’s the answer – we are getting private money chasing us from our warm market and our expanded warm market. Here’s how – by putting on our teacher hat, by becoming an educator, by becoming the expert on what private money is.
Jay Conner (16:26):
Did you know that 100% of mine and Carol Joy’s private lenders, none of them prior to doing business with us, even knew about private money, had heard about private money. They didn’t know what private money was until we educated them and they never heard of self-directed IRAs and how they can use their retirement accounts to get high rates of return safely and securely and loan money out through us real estate investors. And they didn’t know any of that until we educated them. Right? So, first of all, how can you educate people in your warm market or your expanded warm market on what private money is? Well, you got to know what your private money program is, right? You got to know that before you can teach them and educate them about private money. Guess what? I got you covered in the book that I just offered up to you at JayConner.com/Friday. In the book, I go over the exact private lending program that we offer to private lenders.
Jay Conner (17:32):
Okay. What interest rate do we pay them? What’s the length of the note and the term? How are they protected? How can they get their money back early in case of an emergency? All that is covered right here in the book. And if you haven’t gone yet to JayConner.com/Friday, you definitely want to do that right after we finished this live stream. So you got to know the program. Now, how are you going to get the word out and educate them? Well, there’s various ways. You can have one-on-one conversations. One of my favorite phrases, one of my favorite ways to start a conversation about private money. Let me give you the scripting right now. And it goes like this. I love starting out a conversation with, “Did you know?” And here’s how it goes. Let’s say I’m having lunch with somebody.
Jay Conner (18:22):
And I say, “Did you know there’s a way that you can earn unlimited income per year tax-free, or at least tax-deferred with no penalty from the IRS by using retirement funds?” Now that’s a writer-downer question right there. You’re starting by just simply asking, “Did you know there’s a way that you can use retirement funds to earn unlimited money per year tax-free or at least tax-deferred? And it’s all IRS approved.” Well, they’re going to be interested in hearing about that conversation if they’ve got retirement funds, right? And you can educate people one-on-one as I just said. Or in addition to that, one of the one ways that I’ve raised a lot of private money is by using private lender luncheons. In fact, in just one private lender luncheon, I raised almost $1 million by hosting it. And you may be thinking to yourself, “Well, Jay, what in the world is a private lender luncheon? And how does that work?”
Jay Conner (19:25):
I got a whole chapter right here in the book on how to have successful private lender luncheons, and how you can raise a lot of money as well. And today, you know Zoom is so popular. You can host a Zoom party and educate people on Zoom. And again, it’s all in the book. It’s “How You Can Educate People.” So put on your teacher hat and educate people. And then the money’s going to be chasing you. One more quick tip on the money chasing you before we wrap up this live stream. When you have a deal ready to fund, and you’ve already got the private lender or private lenders who have pledged money to you. What do you say to them when you call them up and you’ve gotta be offering the fund?
Jay Conner (20:13):
Well, write this down. You don’t ever pitch a deal. You don’t ever sell a deal or try to talk anybody into doing or funding a deal for you. What do you do? You call them up. You already know how much money they’d have to loan to you because they’ve already told you that. They’ve given you a verbal pledge. You call them up and you tell them 4 things and that’s it. After you call them up and you have a little bit of chit-chat, here’s all you do, is you say, “I got great news for you. I can now put your money to work.” And this is where they’re just using investment capital or they’re using retirement funds. “I can now put your money to work for you.” And here’s the 4 things you tell them about the deal. The first thing you tell them is where it’s located.
Jay Conner (20:57):
The second thing you tell them is the after-repair value. The third thing that you tell them is the money required to fund the deal. And the fourth thing you tell them is the closing date. Let me repeat that real quick. There’s 4 things you tell the private lender. They’ve already told you how much money they got to work with. They’ve already told you if it’s investment capital or retirement funds, right? So after a little bit of chit-chat, you say, “I’ve got great news for you. I can now put your money to work for you.” And let me just do a little role-play here. I’ve got a house over here in Newport. So you see I’m not giving the physical address. They could care less. I just told them the town is located in. I got a house over here in Newport. The after-repair value is $200,000.
Jay Conner (21:41):
So that’s the second thing I told them. It’s $200,000 and the funding required is $150,000. So I already know they’ve got $150,000 because they told me. Maybe they got it in investment capital or they’ve got it in retirement funds, right? And the closing is next Thursday. That’s all I need, your $150,000 wired to my real estate attorney’s trust account by next Wednesday, the day before closing. Did you notice in that conversation, that little role-play that I just did with them? I didn’t ask them if they wanted to do the deal. That’s like the most stupid question in the world that I could ask my private lenders, if they want to do the deal. Of course, they want to do the deal! They’ve already told me they’ve got $150,000. They’re waiting for this phone call from me to give them good news that I can now put their money to work for them.
Jay Conner (22:42):
You see how I’m not chasing the money? I’ve educated them on private money. I’ve educated them on, if they have retirement funds, I’ve entered them into Quest. If they’ve got money to transfer over to Quest, that normally takes about 3 weeks for their account to get funded. And then I call them up with the good news. Now what’s the 4 things that we’re going to tell them, right? The 4 things. Again, in fact, I want you to type these in the comment bar and I want you to get it, right? The 4 things to tell a private lender when you’ve gotta be able to fund. You call them up, you got great news. And here’s the 4 things. Where’s it located? That’s just the township. What’s the after-repair value of the house?
Jay Conner (23:31):
What’s the funding required for the deal? And you tell them the closing date and when it is going to be. When’s the closing taking place? Hey, listen, folks, if you like that conversation that I just shared with you when you’re watching on the live stream right now, or you’re watching the replay, everybody, right now type in the comment bar, “I love it.” Scott, did you get it right? Location, ARV, how much is needed to close, and the closing date.
Jay Conner (25:14):
I got one more free gift for you right now. So in addition to me giving you the book, thank you all for all the love and all the hearts. I’m going to give you 4 weeks free in the Private Money Academy. That’s my monthly membership. I go live on Zoom twice a month in the Private Money Academy, only for the academy members. We have about 300 active Private Money Academy members right now. So I go live on Zoom twice a month for Private Money Academy members.
Jay Conner (26:13):
On the membership side, I got 5 areas of training that we are updating all the time. Of course, I got a bunch of training on private money, but on those live Zooms, that’s where there’s a huge benefit. We all get together twice a month at 4:00 PM on the second and fourth Wednesday afternoon. And I answer live for you, Private Money Academy members. I answer your real estate investing challenges and your questions. We talk about deals that we’re doing. We talked about the private money that we’re raising. It’s a great place to connect. So I’m going to give you a URL right now that will give you free. So I’m going to give you 4 weeks for a free trial in the Academy. And here’s the URL for you to go check it out.
Jay Conner (27:05):
So you can go to www.JayConner.com/trial. If you’re not in the Academy, you got to come hang out and check it out for free. It’s amazingly 37 bucks a month, we’re talking pennies for that kind of education and training. But anyway, come check it out and hang out with the other Private Money Academy members at JayConner.com/trial. There we go for one month free. Well, folks, we’re going to call this a wrap. If you haven’t hit the share icon, do that right now. If you haven’t hit the share icon, help me get this real estate investing education out. Three big gifts today.
Jay Conner (28:04):
First of all, the book, if you don’t have my book, you can get it for free. Just cover delivery at JayConner.com/Friday. Get the book. In addition to that, I gave you the training on how to get private money chasing you. We talked about that and the third gift which was, come hang out in the Private Money Academy. JayConner.com/trial. You all are awesome. Lord willing, I’ll be coming to you live from Las Vegas next week. And Carol Joy and I are heading out there in just a few days. And anyway, y’all plan on joining me next Friday. Next Friday on the live stream for Free Coaching Friday.
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