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: “What Real Estate Investors Can Expect In 2022 ”
Timestamps:
0:01 – Get Ready To Be Plugged Into The Money – Free Coaching Friday!
2:21 – What is Free Coaching Friday?
3:50 – Who is Jay Conner?
6:02 -Jay’s new book – “Where To Get The Money Now? – https://www.JayConner.com/Friday
11:07 – What Real Estate Investors Can Expect In 2022
15:46 – Taxes and Insurance
17:29 – The number of foreclosures in the coming year will be more than we have since 2007 & 2009
18:38 – Top 5 best practices for your real estate investing business
19:18 – Never purchase real estate based on your guesstimate of appreciation.
23:52 – Never purchase real estate based on your ideas of economic projections.
24:21 – Never purchase real estate based only on the equity
24:39 – Always buy real estate based on location.
25:40 – Always purchase real estate based on loan to value. 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
YouTube Channel:
https://www.youtube.com/c/RealEstateInvestingWithJayConner
iTunes:
Real Estate Investing – Jay Conner – Private Money
Jay Conner (00:06):
Oh! My lands! We are live right here on Free Coaching Friday. I got three quick questions for you. First of all, are you a brand new real estate investor and you’re struggling to get your first deal because you don’t have the money to fund your deals? Or are you a wholesaler and you’ve got some assignment fees, you know, you’ve been wholesaling some deals, but you wanna stay in some deals, but you don’t have the money to fund your deals? Or are you a seasoned real estate investor and you just want more funding available, super cheap interest rates to just do more deals? Well, listen, my friend, if you answered yes to any of those three questions, don’t go anywhere, cause I’m getting ready to plug you into the money by giving you my free book, titled “Where To Get The Money Now”. But before I plug you into the money, I wanna welcome everybody here to Free Coaching Friday.
Jay Conner (01:03):
My lands it’s been been a couple of weeks or a few weeks before, or since we were here on free coaching Friday, because the last time we were here on Friday morning, Free Coaching Friday was at the live event just a few weeks ago in my lands we’ve had, I know over 50,000 views, maybe it’s close to 60 or 70,000 now. And on that Free Coaching Friday, I had live on stage with me, Julie Wickizer our real estate attorney. That’s been handling our real estate closings on my lands for over 15 years. Now we went for one hour on that Free Coaching Friday. And so if you missed it, if you’re not one of the 50 or 60,000 people that saw that you want to go to my Facebook page, of course, you’re on it right now on Facebook.
Jay Conner (01:53):
You just search for Jay Conner. Okay. good morning, Dorothy. Welcome to Free coaching Friday. So search for Jay Conner, The Private Money Authority, and scroll down and you’ll see that hour-long training with my real estate attorney, Julie Wickizer. It was amazing. So again, if you have just hello there, Dan Mewhorter, welcome to Free Coaching Friday, up in Stanton Island, New York. Anyway, welcome to Free Coaching Friday. If if you’re just joining today’s topic. So, you know, on every Free Coaching Friday, I cover a specific topic. Today’s topic. After I plug you into the money for your deals. Today’s topic is titled “What Real Estate Investors Can Expect For 2022”. What’s gonna happen in 2022. Hello there, Lynette. Welcome to Free coaching Friday. Glad to have you here.
Jay Conner (02:53):
So if you need a Free Coaching Friday, what in the world is Free Coaching Friday. My lands, what is Free Coaching Friday? Well, Hey William, welcome to Free Coaching Friday. William says I met you in Asheville and then Lexton Kentucky. Hello, Richard. Welcome to Free Coaching Friday Philip from Boston, Massachusetts, Glen Miller. Welcome to Free Coaching Friday, David, my lands David from Jacksonville, Florida. Welcome to Free Coaching Friday. So if you’ve never joined or been in here on what, what in the world’s Free Coaching Friday? Well, we talk all things real estate. We always have an emphasis on private money. Okay. Obviously, because I’m known as The Private Money Authority just real quick. If you’ve, if we’ve never met, right, and we haven’t shaken hands or hug, you know, me and Carol Joy are huggers and my lands, there’s Guy Stevens, platinum and mastermind member from Ohio.
Jay Conner (03:46):
Welcome there, Guy Stevens. So, you know, why am I qualified to talk about what we talked about? Well, Carol Joy, my wife, and I started investing in real estate back in 2003 here in Eastern North Carolina. And we’ve rehabbed a little over 450 houses. We do two to three deals a month and this really small, teeny tiny market of Morehead city, Newport Beauford over on the beach. And we do two to three deals a month, but our average profits are $71,000. Well, from 2003 to 2009, I relied on local banks to fund our deals. And guess what? In January 2009. Thanks for the love. And thanks for the hearts. My land you all are sending me lots of love and likes here on Free Coaching Friday. In January 2009, after being in this business for six years, I got cut off with no notice. Cut off with no notice.
Jay Conner (04:38):
My lands you all are sending the love hearts. Thank you. I lost my lines of credit, right? Lost my lines of credit. And here’s the deal. I hung up for my banker in January 2009, I had two deals under contract and no way to get them funded. So my definition, Hey, let, let me see if you agree with this definition of coincidence, I want you to type in the comment bar, right? And by the way, these instructions work, whether you’re watching live or you’re watching on the replay. But if you agree with this definition of coincidence, I want you to type in the comment bar. I love it. I love it. Here’s my definition of coincidence. God’s way of staying anonymous. That’s my definition of coincidence. God’s way of staying anonymous. Cause here’s what happened when I hung up from my banker in less than two weeks.
Jay Conner (05:25):
Yes. I love it, sir. Coming in a way to go, Greg, welcome to Free Coaching Friday in less than two weeks, Philip, I love it in less than two weeks. I Guy Stevens. I love it. I was introduced to this world of private money. And since that time, yes, Glen love of it. Yeah. Lynette loves it in less than two weeks. I was introduced to this world of private money and I’m gonna give you all this book on how you can get all the private money for your deals too. I was introduced to this world of private money. And since that time, Carol Joy and I have not missed out on a deal because we did not have the funding. Okay. So I’m gonna go ahead and plug you into the money. Now I’m gonna give you my new book for free, just cover shipping. And then we’re gonna talk about what real estate investors like yourself can expect in 2022.
Jay Conner (06:17):
And there is Nick Thomas. Hello Nick! Looking forward to this absolutely. Nick. So I’m gonna give you all the book. I’m gonna give you instructions on how to get the book. And we’re gonna talk about expectations for 2022. So I just recently released this book “Where To Get The Money Now” it’s $19.99 on Amazon. I’m gonna give it to you for free. Just cover the shipping. This book lays out in detail. Okay? This book lays out in detail. How I went from zero funding to over $2,150,000 in funding in less than 90 days when I was cut off from the banks. All right, it’s gonna give you step-by-step instructions, how to locate private lenders in your own backyard. How to be a teacher, teach other people about private money. This is what I’m telling you, folks, you implement what I’ve got in this book for you.
Jay Conner (07:11):
And by the way, we’re not talking hard money. We’re not talking hard money. We’re not talking hard money brokers, you implement what is in this book. Okay? And I guarantee you you’ll have the same results as myself. You will have a problem. And let me tell you something. It is a very good problem. Here’s the problem. You’re going to end up with more money. Okay? You’re gonna end up with more money to fund your deals than you can put to work. Is that not a good problem or what? So, Dan Mewhorter, I’m so glad you’re here on Free Coaching Friday. If you will type in the comment bar, I’m gonna give you all the special URLs. Okay? The special website link is that you can get the book for free. And all you gotta do is just cover shipping. To get the book “Where To Get The Money Now”.
Jay Conner (07:56):
“How and Where to Get Money for Your Real Estate Deals” without relying on traditional or hard money lenders go to www.JayConner.com/Friday. Just the word Friday. So go to www.JayConner.com/Friday And we will I’ll autograph it for you and we will get it shipped right out to you. Guy Steven says it’s an awesome look. Thank you so much, Greg, thank you also for putting the URL up in there, up in the comment bar. So listen, everybody that’s here on the Livestream right now. If you’re on the Livestream with me right now, or you are watching the replay right now, I need your help. It is my intention to get this book into as many real estate investors’ hands as possible. And here’s why I know you’re welcome, Annette, thank you.
Jay Conner (08:54):
I know that private money is number one the best and quickest way to skyrocket your real estate business and never miss out on a deal. It’s also your quickest way to get your first deal, because if you’re talking to all those for sale by owners, okay, 87% of them will not sell to you on terms. They require all the cash. So I need your help. If you’re watching you on the live stream or you’re watching the replay right now, I need for you to click or tap on your share icon below the video right now and share this video, share this live stream. So let’s get this out to everybody. We can, again, I’ll ship it right out to you www.JayConner.com/Friday. We’ll ship it right out. So I also love to know who is watching.
Jay Conner (09:48):
I’ve seen a bunch of you have been chiming in but if you haven’t chimed in yet, go ahead and type in the comment bar, your name, and your city and state. Well, we already got your name. If you type in the comment bar, just type in your city and state where you’re tuning in from. So even if you’ve already commented again, I wanna know the city and states where everybody’s tuning in from and, and just say hello to everybody right now, right after you do that. Give me a bunch of thumbs up. I need lots of likes. And when you like something that I said to you this morning, Minneapolis, Minnesota, give me thumbs up. Give me lots of hearts. All right. There’s Texas Glenn. You know, Carol Joy loves that. Virginia, Chantilly. I wanna say Chantilly right after that, Dorothy, right. Nicky is from Columbia, South Carolina.
Jay Conner (10:33):
Lynette is in Matthews, North Carolina, I think that’s near Charlotte if I’m remembering correctly. I think so. But and then right now everybody gives me a bunch of love everybody right now, whether you’re watching the Livestream or the replay, give me a bunch of heart, give me a bunch of heart’s give me a bunch of hearts. Wow. There is Derrick right there in Raleigh, North Carolina, and there’s Chuck Stevens, Dayton, Texas. And you’re outta Jacksonville, Florida. That is awesome. That’s awesome. There come the love, hearts and Dorothy thinks Chantilly too. I love it. So let me go ahead and give you all that I’m thinking about 2022. All right. This isn’t gonna take long. So hang on here with me. Stay on the end. We’re only going to go. Oh, maybe 10 more minutes, maybe. Okay. By the way, if you’ve got a real estate investing question wow.
Jay Conner (11:25):
There’s William from Lexington, Kentucky. Our dear friend and preacher David Price, his wife, Tracy Price are going out to Kentucky and there’s a thing in the Kentucky mansion. This December my lands. They showed me pictures of the Kentucky mansion anyway. So what am I looking at here for 2022? Well, let me tell you something. I’m blessed to be in three of the top mastermind groups in the nation of the high-end real estate investors I’ve been in. I’ve been talking over the last few weeks with some very, very smart people, people that are smarter than I am when it comes to looking at what’s gonna be coming up in the future. I mean, these folks are doing 100, 200 real estate deals a year, my lands, so they know what’s going on. So what I’m getting ready to share with you is contrary to what you’re hearing on, you know, CNN, MSNBC, you know, all that kind of stuff.
Jay Conner (12:25):
I’ve been talking with people that are CEOs and are involved with the top companies, you know, such as auction.com And hub zoo and all that kind of stuff. So these folks that I have been visiting with, they’ve been through a number of downturns in the real estate market. I mean, just like I have, you know, y’all know that I was in the mobile home business before getting into single-family flipping back in 2003. This is my third market or the third cycle that I have actually witnessed and seen how it goes. And so, you know, everything’s booming right now. I mean, over the past year pretty much all across the nation. We have seen double-digit, you know, increases in the values of houses. And I will say, as far as the values go, I think that’s gonna hold.
Jay Conner (13:23):
I think that’s gonna be steady. I don’t think we’re gonna see a dip in prices over the next year. I mean, you know, rents have been going up, you know, 20% as well. But what I see beginning over the next 12 months, two years, three years, we are gonna have more inventory come onto the market than we have seen since 2007 and eight and 2009. Now I do not believe it’s going to be to the degree that we saw in 2007, eight and nine, but here’s the deal. Think about all those people. Think about all those people over the last, since March of 2021, since March of 2021, think about how many people have not been making their mortgage payments. Right. I don’t know how many it is, but it’s in the millions and millions and millions. And you know, when I talk with people that say, well, hold the phone, Jay aid, hold the phone.
Jay Conner (14:37):
You know, the government, the government is taking care of this, right? You know, they got the bailout program. They’re going to, you know, simply let people tack onto the end of their mortgages, their deferred payments, and all that. Right. And Dorothy says, I’ve seen a lot of moving trucks around in the last week. I bet. So, Dorothy, because it’s getting ready to open up. Now, the first point, I wanna make the first point. I wanna make about upcoming 2022. Even if the government put every one of those mortgage payments that are behind on those millions of people on the back end of their note, guess what they do not put on the back end of the note, anybody put in the comment bar right now, what can they not?
Jay Conner (15:39):
But of course, it’s not gonna happen in the majority of cases, but even if they do, who wants to put in the comment bar right now, what can mortgage companies and the government not put in, what’s called a deferment program? Why can they not put it on the back-end of it? Here’s the answer taxes and insurance, taxes, and insurance, right? I mean, you know, the taxes cannot be deferred. Insurance cannot be deferred. So even, you know, as in most mortgage payments in the mortgage payment, you’ve got the taxes and insurance or escrow, well guess what? Even that’s right, Glen, even if all those were deferred and put on the back end, the payment is still going to go up significantly because the taxes and insurance are behind. So, I mean, here’s the deal folks. Here’s what the crystal ball says. And look, I ain’t got a crystal ball.
Jay Conner (16:40):
Nobody’s got a crystal ball. Hello there, Derrick and Felicia from Raleigh. But if I had a crystal ball, here’s what I believe. I believe that right now, you need to get ready to, first of all, help people that are in foreclosure because it’s gonna be open up and bank on properties. REOs. They’re gonna be more REOs in my opinion, in my opinion, there’s gonna be more REOs and bank-owned properties coming onto the market, not being bought at the courthouse steps. Okay. Because most people don’t have the cash and there’s gonna be a ton of, so what have you gotta do to position yourself? You gotta get the private money lined up, right? You gotta get the private money lined up. I mean, how many, how many foreclosures do you think are just sitting in the wings waiting to come on sale? This coming year, 2023, 2024.
Jay Conner (17:42):
I mean, is it half a million? Is it a million? Is it 2 million? Is it 5 million? I don’t know how many it is. Right. And I do know this, as I said a second ago, it’s gonna be more than we have seen since 2007 and 2009. So a couple of suggestions, and I’ll let you go on Free Coaching Friday again, get the money lined up, order my book, www.JayConner.com/Friday. Get it shipped right out to you. Now I’ve got a very dear friend that’s in one of the masterminds. His name is Cory Boatright. Cory is out of Oklahoma City. He’s one of the most successful. Thank you, Greg. He for putting that in the comment bar. Cory Boatright is one of the most successful real estate investors I know in the nation. And I got an email from Cory the other day and he, and I just loved to brainstorm.
Jay Conner (18:35):
And in his email, he put together a list of best practices for your real estate investing business. And I looked over what he sent me or there were like five of them, and I could not agree with Cory anymore. I’m gonna give you these five. And I tell you folks if you’re driving, go back and listen to this. If you’re sitting somewhere where you can write some notes, write these five ways or five best practices for real estate investing. Number one. And let me tell you folks, this one I wanna share with you right now from my friend Cory Boatright. This is the biggest lesson that I learned in real estate investing ever since I started in 2008. Number one, never, never, never purchase real estate based on your guesstimate of appreciation. Never buy real estate based on what you think the property’s gonna be worth six months a year or two months down the road.
Jay Conner (19:41):
Let me say that a different way. Then I’m gonna tell you a quick story as to the blood bath that I had, and I don’t want you to have this. Okay. question Jake, can you read commend a friendly real estate investor in Charlotte or the surrounding area? Absolutely. When I finish Free Coaching Friday, let me see who sent that in. Who sent that question, Nicky Thomas? Absolutely. So Nicky, when I finish Free Coaching Friday, which would be here in less than 10 minutes, just call our office here at 252-808-2927 And I’ll personally give you a referral to one of the best real estate investors that I know in Charlotte. Anyway, here’s the deal. Another way of this best practice is never to purchase real estate based on what you think the value is gonna be. Another way of saying that is always purchase your real estate as having these criteria.
Jay Conner (20:42):
What if I am stuck with the house and I have to rent it out, or I have to sell it on rent to own, can my monthly rental income give me positive cash flow above what my underlying debt is per month? Don’t miss that. So when you’re buying any real estate, even if you’re planning on flipping it, even if you’re planning on flipping it, okay, can you rent it out or sell to rent to own and have monthly cash flow coming in and have a positive cash flow that exceeds and gives you positive cash flow over and beyond what your underlying debt is. So if you’re using private money, how much is your private lender’s monthly payment? If you’re having to make monthly payments, of course, we always make interest-only payments, right? Always interest-only payments. If you are buying it subject to the existing note, what is the underlying mortgage payment?
Jay Conner (21:44):
What’s the existing mortgage payment that you’re gonna be making to this seller’s mortgage company because you purchased it subject to the existing note. And how much can you really, not pie in the sky, but how much really can you bring in per month? And don’t count on any of those options for your non-refundable lease option deposit to, you know, carry you through the first year or whatever. I mean, if you are stuck and you just have to rent it out, what is your positive cash flow? I’m telling you folks, that is the number one criteria, right? Yeah. God bless you, Nicky, I’ll look forward to your call after we finish Free Coaching Friday here, but you gotta have that criteria. A quick little story here. So I had only been to the real estate investing business, maybe a couple of years.
Jay Conner (22:31):
This goes back to 2005 and there was a condominium over at Atlantic beach. It was a bank-owned property. And this was before I was even into private money. This was before I was into private money. I was using local banks, right mortgage companies. This was actually, I funded it through a mortgage broker as an investment loan for an investor anyway. So I bought it and my intention was to fix it up and flip it. Well, guess what happened by the time I bought it, got it rehabbed, and put it on the market. The prices were already coming down. Well, stupid me. I would not listen to my real estate agent. My realtor is telling me what the current fair market value is, even in the all-fixed-up position. So I kept holding onto my price, holding my price, fair market prices, keep going down and I couldn’t sell it.
Jay Conner (23:21):
I couldn’t sell it. Right. So I was stuck with having to rent it out. Guess what? It was a blood bath, a blood bath. I was in the negative cash flow for more than two or three years, negative cash flow. And so the big lesson learned is what my friend Cory Boatright I just told you as part of your criteria always calculate, what’s your cash flow going to be? If you’re stuck with that house now. Number two, best practice. All right. Number two best practices, never purchase real estate based on your ideas of economic projections. Okay. Hello there Ted from Kentucky. Welcome to Free Coaching Friday. Never purchase real estate based on your projections of what the economy’s gonna do. Again, that’s the same underlying criteria. Make sure that property will cash flow. If you have to rent it out. Number three, never purchase real estate based only on the equity, because guess what?
Jay Conner (24:28):
The amount of equity in that property changes based on what the market is doing. It all still comes down to cash flow. If you have to keep that house, number four, always, always buy real estate based on location. Thank you, Cory Boatright. Always buy real estate based on location. So, you know, when you’re doing your formulas and you’re doing the Mayo formula and you’re negotiating the deal, first of all, don’t even get into negotiating the deal. If it’s not a good location, for example, never buy in war zones, right? And I’ll tell you one criterion that I’ve had for years for me and Carol Joy. And that is I’m not buying a property unless I could feel safe about leaving my wife, Carol Joy in that home at night and me be out of town. So bring it home. If you can’t feel comfortable leaving your spouse or significant other by themselves in that home, by themselves, and you’re out of town, then you should not be buying in that location.
Jay Conner (25:40):
And then number five, always purchase real estate based on loan to value. In other words, as is now values that consider cash flow as your life and not equity. That’s sort of what I’ve been saying, right? It all comes down to that cash flow if you are stuck with the property. Okay. So those five items from my good friend, Cory Boatright, if you found out helpful, do two things for me right now, type in the comment bar. Thank you. Thank you. Thank you. If it was helpful to you type in, thank you, and tap the share. I need your help. I want to get this information out to as many real estate investors as I can. I see the hearts coming in. I see a flood of hearts coming across and the likes. That’s awesome. So before we call this a wrap, before we call this a wrap on today’s Free Coaching Friday.
Jay Conner (26:37):
Yes, Marvin. Thank you, Marvin Ricks, for being here. Glen Miller. You got it. So one last time, folks, if you just tuned in here on the live stream I want to send you my book, “Where To Get The Money Now” this will plug you into private money funding very, very quickly. You will never miss out on a deal. Thank you, Derek. Thank you, David. Yes. Thank you, David. You’ll never miss out on a deal for not having the funding. I ship it out to you. Just cover the shipping. Thank you, Greg. Greg, just put in the comment bar URL where you can get the book for free at www.JayConner.com/Friday. You all, God bless you have a fantastic Friday. Rest of the weekend. If you’re watching it here on the live stream, your success is very, very important to me. Always love hanging out with y’all. And so here it is folks that wraps up another Free Coaching Friday. And I’m Jay Conner, The Private Money Authority. Thank you, Richard. Thank you so much. I’m Jay Conner, The Private Money Authority wishing you all the best here’s to take your real estate investing business to the next business. And we’ll see you right here on the next Free Coaching Friday. Bye for now. God bless. Love ya.
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