Put your seat belts on because, in today’s episode of Real Estate Investing with Jay Conner, Jay has amazing guests.
Eric Camardelle, also known as Banjo, is a former United States Marine.
He started his investment experience by turning his first house into a rental and from there, his love for real estate continued to grow.
His wife, Erica, is a former school teacher and has a master’s degree in Educational Leadership. They are doing the business of real estate together.
On today’s show, the successful couple will be sharing their latest deal and how they are able to make $120,749 without using any of their own money!
Timestamps:
0:01 – Get Ready To Be Plugged Into The Money
0:13 – Today’s guests: Banjo & Erica Camardelle
1:50 – How Banjo & Eric Camardelle Started Their Real Estate Business Journey
3:41 – Early Struggles, Challenges & How The Couple Overcame Them
6:37 – What Are Terms Deals?
8:28 – How Private Money Change Banjo & Erica’s Lives.
11:23 – What Is Private Money And Its Difference From Hard Money.
12:21 – Importance Of Networking
13:30 – Jay’s Free Private Money Guide: https://www.JayConner.com/MoneyGuide
14:13 – Banjo & Erica’s Latest Real Estate Deal
21:59 – Doing Deals Without Using Your Own Money
24:09 – Approximate Profit For The Past 6 Months
25:51 – How To Get People Loan Their Money To You.
28:38 – Best Advice For New Real Estate Investors.
30:32 – Connect with Banjo & Erica: https://www.BanjoBuysMSHouses.com
Private Money Academy Conference:
https://www.jayconner.com/learnrealestate/
Free Report:
https://www.jayconner.com/MoneyReport
Join the Private Money Academy:
https://www.JayConner.com/trial/
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
What is Private Money? Real Estate Investing with Jay Conner
https://www.JayConner.com/MoneyPodcast
Jay Conner is a proven real estate investment leader. He maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal without using his own money or credit.
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An Extra $30,000 Profit! with Eric & Erica Camardelle | REI with Jay Conner
Jay Conner
00:00:02
On my lands here we are live with another episode for you today, and I’m so excited to have you join us. I’m Jay Conner, your host also known as the private money authority, and wow. Have I got some exciting guests on the show today? You need to put your seatbelts on to hear this story. Their names are banjo and Erica. They’re from Mississippi and they came into my world about a year and a half ago, and wow, have things taken place in the past year and a half, they had begun real estate investing a little bit prior to us meeting each other. But once we met at one of my recent live events, boy, did they put their program on steroids? They’ve I’ll let them tell you how much private money they’ve raised. It’s a lot of money. Banjo was actually able to retire from his day job, a short while after us becoming beginning to work together and they were doing all kinds of deals. And so we’ve invited them to join us to talk about one or two of their recent deals that they’re doing there in Mississippi and how it is that private money is playing into those deals. And so with that, I wanna welcome to the show banjo and Erica welcome.
Banjo Camardelle
00:01:27
Hey Jay, how are you doing?
Jay Conner
00:01:28
I am doing fantastic. Now, what room are you broadcasting from there in your house?
Banjo Camardelle
00:01:35
This is our, this is where all the magic happens. This is the office.
Jay Conner
00:01:39
That is awesome. That is all well, thank y’all for taking the time to come on. The listeners are going to just love your story. And so let’s just jump right into it. So, first of all, how did you get involved in real estate investing to start with, where did the interest come from and how did you start back and back, and when did you start?
Banjo Camardelle
00:02:01
It was about 2008. We were looking for a new house. And when I, when I was at the railroad, somebody was saying, Hey, why don’t you talk to Jeff? One of my really good friends and mentors, Jeff Gonzalez was a realtor. And, and so I, at this time we weren’t super tight, but I contacted him and I said, Hey, Jeff, I’m looking to buy a new house. I’m wondering if you can help me out. And so he said, yeah, he said, but let me ask you a question. What are you gonna do with the house you have right now in Algiers? I said, well, I don’t know. I thought about selling it. He said, you ever thought about just turning it into a rental, maybe even getting your realtor’s license. And he started talking a little bit about real estate and knowing that they have a lot of wealthy individuals that started out in real estate and are definitely investing in real estate. I was interested in it. And then from there, it really just mushroomed and, and, and blew up into something. And we’ve been, we’ve been chasing it ever since. So that’s, that’s how we got started though. My friend, Jeff kind of talked me into turning that first house that I owned into a rental when we moved out.
Jay Conner
00:03:06
So, Erica, what did you think about this idea of when banjo first started talking about this real estate investing thing?
Erica Camardelle
00:03:14
Oh, I wanted nothing to do with it real estate. Wasn’t interesting to me,
Jay Conner
00:03:19
So, well, why, why didn’t you want anything to do with it? I mean, what were you skeptical about part of it or something?
Erica Camardelle
00:03:26
I was very skeptical all. Well, when he first started being a realtor, you know, you have all these contracts and you gotta read all the fine print. And I just, I didn’t know enough about it too, for it to really be exciting.
Jay Conner
00:03:40
I got, I got you. So when you started out, what were some of your early struggles and challenges that you faced?
Banjo Camardelle
00:03:52
Oh, I did it all wrong. I did it all wrong. Oh, I, I guess the main challenge I would say, cuz I started out as a landlord. Like a lot of people do and didn’t really read any books about it. We just were going off of what people would tell us, you know, what we’re supposed to be doing. And of course, you got your own opinions when people start telling you what to do. But my main struggle was that I was a young guy. I was renting to seasoned renters. I was a brand new landlord and they were taking advantage of me left and right in the beginning. And it really took a long time for me to find, my confidence in being able to treat people like they needed to be treated as tenants. And I act like land, like a true landlord. I’d let ’em walk all over me in the beginning. I think that would be one of my main challenges. I guess second in line would be the procrastination of doing it wrong. Not, not being professional, treating it as a hobby, not as a business, and so forth. So on like that,
Erica Camardelle
00:04:53
I think another thing when we first started, we had the mindset of, you know, you have to go through the bank. So we got the rental house. We were kind of maxed out on, how much money we can spend on how many loans we could get. So we just thought we just had to do it that way. And then as we progressed, we started doing terms deals. And of course, we were limited with that cuz we didn’t have the funds. So those were some challenges. And now that we have the private money we’re rocking and rolling. Yep.
Jay Conner
00:05:23
That’s awesome. So how did your renters take advantage of you starting out?
Banjo Camardelle
00:05:31
Oh, man. They would just lie basically. They would lie. And I had some tenants that lied to me until the day they moved out. You know, I showed up to go talk to ’em one day and they were, and a neighbor said, man, they had a U-Haul in here last week. They’re gone. I’m like, they’re gone. They owe me three, four months of rent, you know, stuff like that, giving people the benefit of the doubt. And not that I still don’t give people the benefit of the doubt, but of course, I have standard operating procedures in place to protect me for, from, you know, tenants, just living, living for free for months and months and months and months and then ghosting me. Do you know what I mean? Right. So since then though, we got, we got a few holes. We don’t have many holes right now where I’m starting to get, but the focus is back on just normal rentals and or multiplexes. But since then we’ve gotten me and, my partner, Jeff, that I was just talking about actually just purchased 16 units. And I have between me and Erica, we have the eight units multiplex as well. And we’re looking to get some more single-family homes to just hold as normal rentals instead of the lease purchases or MLS
Jay Conner
00:06:36
Flips. Right, right. Erica, a moment ago, you mentioned when y’all started out, you did terms deals. What do you mean when you say terms deals?
Erica Camardelle
00:06:47
So almost if not all of our deals that we’ve done, we just simply took over the seller’s mortgage.
Jay Conner
00:06:56
So you would take over the mortgage and would you wouldn’t assume the mortgage cause the bank didn’t have any kind of approval process, but you would just agree to start making their payments and then they would transfer the title or the deed into your entity’s name, right?
Erica Camardelle
00:07:12
Yep.
Banjo Camardelle
00:07:13
Yeah. Few of them were the subject, sorry. Yeah, go ahead. , but then, there were a few like that with the strictly subject to where we basically just took over the notes. Sometimes we’d bring a thousand or a few thousand dollars to closing. If we needed to others, we took subject to, with a larger owner finance portion. Like we might owe some people about 30 grand. Whenever we go to close this, the deals out. Finally, when our lease purchased buyers buy the property, we owe the seller that extra money. And then some of ’em were some really nice strictly owner finance deals where the seller owned the property free and clear and decided to just owner finance the property to us interest fees in some cases and 10-year balloons. So it’s really nice financing. Then, we were finding some pretty good deals, but there were a lot more deals that we had to pass up on simply because they needed the cash upfront.
Erica Camardelle
00:08:07
Well, and, and as the market got hot, you got those deals were harder and harder to
Banjo Camardelle
00:08:12
Find. Yeah, we were calling fisbos all fisbos for those deals, and the hotter the market got. They didn’t need to talk to us. The fisbo people didn’t need to talk to us anymore. They can sell it.
Jay Conner
00:08:21
Right. Right. So then you came to one of my private money academy conferences and you learned about private money. We started working together. So what’s changed in your world since then.
Banjo Camardelle
00:08:38
Well, can I tell, can I give a little color to that, to that first event you
Jay Conner
00:08:41
Can give a little, you can give any, you can paint any color you want.
Banjo Camardelle
00:08:46
So Erica didn’t want to go. First of all. And, and I, I wanted her to in the business and I knew that if she went to an event, cuz I’ve been to several before that she was gonna buy-in or at least see the light, see the potential of this real estate investing journey. And so I let her know, listen, this thing is gonna be on the beach. It’s going to be nice. We’re gonna be in a very nice hotel at the very least, just come on vacation with me. You know you don’t even have to do anything. And I said I promise, we’re not going. We’re not gonna buy into any programs. We’re not doing anything. We’re just going to learn some stuff about real estate. And so when we got there, you know, we got to the live event and everything and all, all awesome speakers you got are speaking the mindset stuff and really getting us motivated and fired up.
Banjo Camardelle
00:09:37
And boy, we take notes and we got us a game plan and a mission. But the thing that happened while we were there, even though we both made a pact with each other, that we’re not gonna spend any money, no matter what it’s like. You know, when you’re, when you’re, when you get so experienced in real estate and you go to an event like this. And I just knew from everything that I heard, that this would 100% work not to mention all of the other little perks that you have. I mean, it’s just a, it’s a no brainer. You make it so that it’s, it’s a no-brainer to do. And so I knew in my heart of hearts and with all of my soul that we would not go wrong, buying all into this thing, problem is we made a pact with each other that we weren’t gonna do that.
Banjo Camardelle
01:10:21
So now we had a, so I leaned over at some point during the event, I’m like, you know, we gotta buy this. Right. And she’s like, you know, so now we’re, now we’re trying to figure it out between us. And we were probably maybe one of the most skeptical ones of the, of anyone that signed up. But we were the very last ones. I remember that everybody was leaving actually. And we finally just decided we were gonna go ahead and sign up. And man, since then, my gut proved to be right, you know, with your, with the leadership that you have in place, crystal and ch and, and Kelly and everybody else that helped with the platinum plus programs, the instructional part, the mastermind part, the business building part, it really, really just exponentially fast-forwarded our business. And, and, and we took advantage of it. You know, I’m, I’m not saying it was easy by any means. It was, it was hard. It’s not easy to, to do, to do what we were doing, but we definitely couldn’t do it without you in the program. So we greatly appreciate that.
Jay Conner
01:11:22
So first of all, let’s make sure that our listener knows exactly what we’re talking about. What is private money and what is it not?
Banjo Camardelle
01:11:38
So private money is simply money that an individual like you or me or anybody else, an everyday person lends to a real estate investor in order to make high rates of return safely and securely. So, so
Jay Conner
01:11:56
You’re not doing business with banks,
Banjo Camardelle
01:11:58
Correct? Not doing business with banks, we’re not partnering, we’re not JV with them. The private lender acts in the same capacity as a bank would act. And they’re protected just like banks are protected as well.
Jay Conner
01:12:11
And you’re not borrowing hard money.
Banjo Camardelle
01:12:14
No, sir. Not borrowing hard money. There are no middlemen, no extra fees.
Jay Conner
01:12:20
So where do you find these people?
Banjo Camardelle
01:12:24
Well, in our what’s called the warm market people. We know friends, family, and friends of friends. And since joining the program, you know, we’ve learned that networking is one of the most underutilized tools in, in business today. So we have become networking experts. We love it. You know, we joined several groups and programs and stuff like the rotary club. I visited a few BNIs business networks and international I’ve actually started a real estate and investor association meet-up in my hometown because of y’all pushing me to do so we’ve also started up. I don’t even think you know this, but we host a weekly networking group, in our hometown now. And that’s phenomenal. That’s, that’s getting legs real quick and it’s growing and everybody loves it so far. So yeah, networking is very essential in business. And so that’s basically how we get our private lenders. We got a phenomenal private lender program. We mirror it after you, which you have going on in yours and you know, our private lenders love it.
Jay Conner
01:13:30
Well, I tell you what banjo and Erica, let’s take a second and let’s give away a free gift to everybody that wants it. And that is, I just recently finished writing my new private money guide, which is called seven reasons why private money will skyrocket your real estate business and help you build incredible wealth. You can download it for free at www.JayConner.com/MoneyGuide. That’s www.JayConner.com/MoneyGuide. And this will put you on the fast track to getting you more private money than you can actually spend and invest in your deals. Speaking of deals, banjo, and Erica, would you share with, with me and the audience, a recent deal that you’ve done and what the numbers looked like and how you found it and how you funded it and, and, and the whole, and the whole story behind the deal.
Banjo Camardelle
01:14:30
Sure. So I remember specifically I was driving down highway 26 and I had, this is right before we hired our new newest acquisition. So I was taking all the phone calls and abandoned them, and we, we placed a bunch of band signs out, got a phone call from a gentleman on a bandit sign, and asked me if we were the ones who buy the houses. I told him, yes, sir, we sure are. And he told me where the house was at. It was kind of on the way where I was headed. I was headed to the house. I said I could take a little detour and be there in about 20 minutes if you’d like, sure enough. He said, sure, let’s do that. So we showed up at the house, walked around, and got a quick idea of what we would be looking at repair-wise. Not, not a, not a sure concrete number, but I knew the ballpark where we were at now. You know, we don’t like giving offers. If we can help it, we would love the seller to let us know what they want us to buy the house for. And so I asked him and he, he said, I, I don’t know, man, I’m just looking for an offer.
Banjo Camardelle
01:15:32
I learned a few techniques through the years. One of ’em that stuck with me, a few of them that stuck with me. One is, well, you know, you wouldn’t put, a car on Craigslist and not put a price. And so you want to sell this house just like if you would wanna sell a car. So gimme a ballpark figure. What are you looking for? He was, he was adamant. He didn’t want to tell me what the price was. And so that, that was okay though. And so later on, I, I, I asked them if it would be all right, if, if he left the key under the mat, cuz he lived a little bit ways away from the house. It was a vacant house. His, mother died about three years before, before now. And, and he just decided he, he knew there had to be work done to it, but he didn’t feel like doing the work. He was ready to just sell it, get the capital out of it and let somebody else do the work. So I and my project manager went in there. We got a good idea of what the repairs were gonna be looking like.
Banjo Camardelle
01:16:24
And we knew where we needed to be on our numbers, but I wanted to know where he was at on his number. So I called him back and I, and I, I said another little line that I learned and it’s basically telling me what your happy number is. What is gonna make you smile at the end of the day, if I end up at the closing table and hand you a check for blank, what’s the number? I know you got a number in, in your head and his number was 60. So we ended up giving him 60, 60 K for the house.
Jay Conner
01:16:52
So you bought it for, you bought it for 60,000.
Banjo Camardelle
01:16:55
Yes, sir. Bought it for 60,000. Now, this house is a four, two, it was a weird setup house that all the rooms kind of connected together. You had to, you walked through a bedroom into a closet out of that closet, into another bedroom out of that bedroom to another bedroom. It was, it made
Erica Camardelle
01:17:12
A horseshoe, basically
Banjo Camardelle
01:17:13
Like a U-shape. Yeah. And so we were having some ideas on what we’re gonna do to close off a closet and just make it a little bit more functional. Well, in doing that, we realized that, Hey, we were looking at this house with about 1,858 square feet. That’s where, we ran our conservative numbers and we were right around one 70, very conservative after repaired value of 70. I’m thinking 1 75, 180 still sort of conservative. But that’s where we’re at for our after-repaired value on this house we noticed, or we realized that we were, we were right at about a $35,000 budget for repairs. Those repairs consisted of some soft spots on the floors, paint, and some HVAC stuff. Speaking of HVAC, we wanted to add some square footage to the house. They closed in the carport. And so that was gonna add that was gonna bump the total heated and cool square foot to about 2370, which would add roughly 50 K to the price to the after repaired value. And so we talked to the HVAC guy, he put, it ended up putting a mini-split in there, which as far as the appraisers are concerned, counts for the heated and cooled area, not unlike a window unit. And so we ended up doing that along with all the other repairs and it added about 50K to our after repaired value. So that’s where we ended up listing it for about 299K is when we decided to turn, that space into heated and cooled.
Jay Conner
01:18:43
So you’ve got it listed for 299K, and it just hit the market. Right?
Banjo Camardelle
01:18:48
Just hit the market. Yes, sir.
Jay Conner
01:18:50
And so with the market as high, as hot as it is for all, I know you may get an offer above that, but let’s just say you’re at like two 30 for your, for your price and you bought it for 60 and you put 35 in it and that’s 95 closing costs. Let’s just put round figures of a hundred thousand dollars. So you’re talking a gross profit of 130,000 less carrying costs, less, fewer realtor fees. So even with that, you’re gonna be netting easily over a hundred thousand dollars on, on this house. What did your bandit sign say? Or what does your bandit sign say?
Banjo Camardelle
01:19:29
It said, sell your house. And then in big letters, it said fast, it has a home, it has a phone number. And at the bottom it says something about, you know, avoid foreclosure call now, you know, and I was a little reluctant to put those bandit signs out. But quite frankly, I just went to the website where I got my bandit signs and I used the template. They had, I didn’t, I changed nothing except the phone number. And basically, I wanted to put a test out there cuz I designed my own with the red lettering and the bubble letters and you know, this and that. And you’re trying to make the perfect bandit sign. And I said you know what? I’m just gonna, I’m a, I’m gonna put these two up against each other and see if one wins the other one out, cuz this one says something specifically about foreclosure, this one doesn’t and you know, come to find out they do the same. It doesn’t they call each sign just the same. And yes, I’ve had several people call the foreclosure bandit sign. That’s not going through foreclosure.
Jay Conner
02:20:25
Right.
Banjo Camardelle
02:20:27
If you got a sign up there that says that you sell houses, people that have a house to sell are gonna call it.
Jay Conner
02:20:32
Yeah. So you use private money to fund the deal. Yes sir. And so how much private money did you borrow when you bought the house?
Banjo Camardelle
02:20:43
130,000. So based on our conservative harvest of one 70 to 180,
Jay Conner
02:20:49
Right. So, you gotta tell me something you needed 60 of that to buy it. You needed 35 of that to rehab it that’s 95, but you borrowed 130. So that sounds like about 35, 30 to $35,000 more than you needed to buy it and rehab it. So what’d you do with that 30 or $35,000 check that you brought home?
Banjo Camardelle
02:21:14
Well, at the end of the day, I suppose we could do whatever we want with it, but we threw it in the bank. We threw it in the bank and we, you know, basically threw it out there for unexpected. We always keep about 10 grand when Murphy shows up in these houses, which he usually always does. But I’m telling you, we were about done with this project. And, we estimated 35 K in repairs, and my project manager, Caleb did a wonderful job of hitting the nail right on the head. We’re right at 35 K so phenomenal job there. But we did absolutely want to keep about 10 or 15 grand on the side for just things that might pop up that we were unaware of. But the other, you know, 10 or 15 K you could really do what, what you want with it, you know?
Jay Conner
02:21:59
So, how much of your own money did you take to the closing table?
Banjo Camardelle
02:22:05
Zero. We don’t take money to closings. We get money at closings.
Jay Conner
02:22:11
So in words, you get paid to buy houses.
Banjo Camardelle
02:22:13
It feels very funny. Since we’ve got introduced to this world of private lending, it feels very, I feel like I got something taken from me when I have to go to closing to buy a house and bring money to the clothes. And that’s just ridiculous.
Jay Conner
02:22:25
Exactly. That’s the wrong way to do it. So you always borrow more than you need to buy it. And even if there’s rehab involved or not, you always buy more than you need to buy it. You, borrow more than you need on the rehab, but you still gave your private lender, a nice equity cushion between how much you borrowed. Oh yeah. Which was what’d you say 130 and the conservative value of 170 180,000, but now you’re probably gonna sell it for two 30. So it’s a win, win, win all around. You’re gonna make a boatload of money. The seller was happy. He got him, he got his happy dollar, and your private lender’s happy cuz they’re getting paid high rates of return, and yep. And then, you know, you got your project manager and then you got your subs. So you got a lot of people winning out of this deal.
Banjo Camardelle
02:23:15
Absolutely. And you know, I learned that lesson, the hard way going against what y’all teach, borrow, you know, more than you need all the time. And me and Erica’s conservative ways on one of the first deals that we ended up doing. We didn’t wanna borrow over-leverage, you know, so forth, so on, but that ended up biting us in the butt because Murphy showed up with all his cousins, all his family, they had the camper and everything, and now we’re pulling money off our own pockets when we could have easily borrowed more money in the beginning. And would’ve had a nice cushion and still protect the private lender as well. You know, with, with the 25% equity cushion that we give all of our private lenders, they could have still been protected, but I and Erica wouldn’t have had to come outta our pocket with our own money. So yeah, definitely after that, we always borrow more than we need in case something pops up like that.
Jay Conner
02:24:08
That’s awesome. So how much private money have you all raised so far, approximately since you started raising private money?
Banjo Camardelle
02:24:17
About, yeah,
Erica Camardelle
02:24:18
I think we’re up to about a little over a million.
Jay Conner
02:24:22
Going over a million dollars and that’s like within what about a year and a half or so?
Banjo Camardelle
02:24:29
About a year and a half.
Jay Conner
02:24:31
That’s awesome. You’ve probably lost count of this, but you know, on approximate equity or profit that you’ve done in the past year and a half.
Banjo Camardelle
02:24:45
It’s gonna be counted. Well, if we count the 16 units, I mean, when, when we’re done with those 16 units that we bought with Jeff, that’s gonna be a million dollars in equity in itself.
Jay Conner
02:24:56
Nice.
Banjo Camardelle
02:24:57
When we did the rehab in that. So, and we actually used the private money from, from our business to, to help fund the deal. That’s why Jeff ended up calling us because we were at a fishing camp having some, some good, old fun. And we were talking about this deal coming up. And he said, man, I’m trying to get this deal funded, trying to get this deal funded. I said, man, you know what? You’re talking to the private money authority down here in the south there, you, I use your line, you know, of course. And, and we laughed. He knows I was kidding. And, and he said, no seriously though, what do you think you can do? I said, well, let’s get it done. So we needed, we needed like 650,000 and I made it happen within a week and a half. I believe with some private money that we had sitting on a shelf and some others that, we wrestled up. So it was that’s, that’s how we ended up going in partnership with them on that deal there.
Jay Conner
02:25:50
That is awesome. So when you’re talking with a new, first of all, you’re private lenders that you borrow money from had any of your private lenders ever loaned money out to other real estate investors before they started doing business with you?
Banjo Camardelle
02:26:07
No, sir.
Jay Conner
02:26:08
So all so you, so how do you get people to loan money to you? And they’ve never loaned money to a real estate investor before. I mean, are you Chas? Are you begging? Are you selling how
Banjo Camardelle
02:26:20
No. What I’m doing is I’m presenting an opportunity for someone who is having a hard time, finding a place to allow their liquid capital or their retirement accounts to grow for them, of course, with high rates of return. But I think the main sticking point in this economy, especially right now is the safe and secure part and they love the safe and secure part. They can see me shake my hand. They can go ride by the house if they want. They, they, they, they know that they can count on me, but what they really love is the fact that they’re on a deed of trust are a mortgage and they’re protected their notes protected by the actual piece of real estate. So that really helps them to understand that, Hey, this is the real deal. You know, they’re not just loaning me money, just kind of giving it to me and hoping they get their capital back at the very least, they’re gonna get a piece of property out the deal. If something goes south, you know,
Jay Conner
02:27:18
So you’re not borrowing unsecured money. You’re borrowing money that is actually backed by the real estate that you’re buying.
Banjo Camardelle
02:27:25
Yes, sir. Yep. And I also have to throw in there. I did have one private lender actually that I met through our local gym that we go to just approached him and told him, you know, a little bit about what we do. And, and he was interested because the stock market’s volatile and he pulled the, he pulled his money out of the stock market that he wanted to pull out. And since working with us, making a much safe and more secure high rate of return, he was involved. He was a little bit skeptical cuz he was involved with a reap before. And he said that he put about $20,000 into a REIT and three months later it lost 20% or something like that. And so that has to do with real estate. And those things are advertised kind of backed by real estate and everything too. So I had to explain to him that this, this private lending program that we got is a, is a, is a bit different than one of those. Whereas your entity whoever’s loaning, the money is gonna be put on the actual deed of trust. They’re listed as the mortgagee on the hazard insurance, they’re an additional insured on the title insurance. They got the promissory note and everything’s recorded at the courthouse. So super protected, just like, as a bank would be.
Jay Conner
02:28:37
That’s awesome. Well, you know, you all, you all are becoming very, very quickly seasoned real estate investors, but I know you remember what it was like when you were brand new. So what advice what’s the best advice or two or three pieces of advice you would give a newbie that’s looking to still do their very first real estate deal. What would be your advice to them? Given your experience,
Banjo Camardelle
02:29:04
Find someone that has the heart of a servant that’s been through the fire already and that will be willing to help you get through the fire because even with the best coaches in the world, you’re still gonna go through some fire. You’re, you know, it’s gonna be hard, but that would be my number one piece of advice is to find somebody that you can have coach you or mentor you through your first couple of deals.
Jay Conner
02:29:32
Yeah. What comes to your mind, Erica?
Erica Camardelle
02:29:36
Yeah, I think you definitely, definitely need a coach or a mentor, but as far as private money goes, I think, one of the hardest things for me to realize in the beginning was that I wasn’t begging anybody for money. I wasn’t trying to sell anything. I’m just trying to educate people. And we’re really when you realize how much you’re helping your private lenders, we have one that she looks forward to her monthly check. She lives off of it. And her liquid capital isn’t diminishing like it was before she’s keeping it the same. And right, when you just realize how much of a difference you’re making in people’s lives, it, changes your confidence level and it just ups your game and, and helps you become that much more successful.
Jay Conner
03:30:19
That’s awesome. Well, I’m so proud of you guys. I mean, you all are just knocking it out of the park. They’re in Mississippi and thank you so much for taking the time to come on today and share your story. It was an absolute
Banjo Camardelle
03:30:33
Pleasure brother. Appreciate the invite. Yes, sir. Thank you. All
Jay Conner
03:30:36
Right. Thank you. Banjo. Thank you, Erica. Well, there you have it. Another episode of an amazing show, an amazing story. I’m Jay Conner of the private money authority. And I tell you what, I just really, really need your help. I really appreciate the likes, the shares, the subscribes, the five stars, and the reviews. And if you happen to be watching on YouTube, be sure and click or tap that bell. So you don’t miss out on any notifications on our upcoming episodes. So there you have it. I’m Jay Conner wishing you all the best. Here is to taking your real estate investing business to the next level. And we’ll see you right here on the next show.
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