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Is Private Money Drying Up In Today's Chaotic Markets? | Raising Private With Jay Conner

Key Takeaways:

  • How James finds private lenders.
  • Private Money and the freedom of setting your own terms.
  • The impact of Private Money on James’s businesses.
  • James’s advice on how to start raising Private Money.
  • The current trajectory of the real estate market and how to navigate it.
  • Private Money and the current market.
On Raising Private Money we’ll speak with new and seasoned investors to dissect their deals and extract the best tips and strategies to help you get the money! Today we have James Prendamano! James Prendamano has been named one of the 50 most influential people by “City and State” for several years running. As CEO, the company was named one of New York City’s top 10 boutique real estate firms by the “Commercial Observer” and won the “Top 31 Business Award” by the Staten Island Economic Development Corporation. Recently James was named one of the top 100 leaders in Real Estate and Construction as well as one of the top 100 innovators in Real Estate, in part due to his groundbreaking new Real Estate Software which is slated to be offered to the marketplace in the coming months. James’ success in the Real Estate Space has resulted in several appointments by the Mayor of New York City and he currently serves as a Director of the New York City Industrial Development Agency (NYCIDA) as well as a Member of the Build NYC Resource Corporation (Build NYC) for The New York City Economic Corporation. He has built a culture of service and philanthropy. He created the “Season of Giving” donating to various charities throughout the years. Recently James launched PreReal, Prendamano Real Estate a state-of-the-art new-age Real Estate Brokerage, a Technology company, an Investment fund, and one of a kind Real Estate Institute. Over his career, James’ team has closed over 1500 deals, leased more than 1 million square feet of commercial space, and has effectuated more than 1 billion dollars in transactional Real Estate.

Timestamps:

0:01 – Raising Private Money with Jay Conner

0:14 – Today’s guest: James Prendamano

3:49 – The Biggest Challenge That Leads To Using Private Money

5:33 – How To Find Private Lenders

8:10 – Will the Interest Rates Of Paying Private Lenders Also Go Up?

10:00 – Begging For A Mortgage vs. Offering An Opportunity

12:25 – Profitable Deals By Raising & Using Private Money

16:17 – Points To Consider When Planning To Start Raising Private Money

18:38 – Jay’s Free Money Guide: https://www.JayConner.com/MoneyGuide

19:33 – Sustainability: How To Make Sure You Will Survive The Chaotic Market

24:06 – Get Your Money Lined Up!

26:15 – Cash Is “Still” The King

27:17– To Be Successful, Educate Yourself.

29:32 – Check out James Prendamano’s Podcast: https://www.PreReal.com

Private Money Academy Conference:

https://www.JaysLiveEvent.com

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.

What is Real Estate Investing? Live Private Money Academy Conference

https://youtu.be/QyeBbDOF4wo

YouTube Channel

https://www.youtube.com/c/RealEstateInvestingWithJayConner

Apple Podcasts:

https://podcasts.apple.com/us/podcast/private-money-academy-real-estate-investing-with-jay/id1377723034

Facebook:

https://www.facebook.com/jay.conner.marketing

Listen to our Podcast:

https://www.buzzsprout.com/2025961/episodes/11712531











Is Private Money Drying Up In Today’s Chaotic Markets? | Raising Private Money

Jay Conner

00:00:02

Welcome to Raising Private Money. Another episode, an amazing episode. Today, I am Jay Conner, your host, also known as the Private Money Authority. And here on the show, we talk about private money. Can you believe that? Well, my guest today has got a lot of experience in raising millions and millions of dollars in private money. And boy does he have the credentials and the experience behind his name. First of all, my guest has been named one of the 50 most influential people by City and State Magazine, which is outta New York City. And just to give you a thumbnail of his experience, he has, he and his team, they’ve been involved and closed over 1500 deals. He and his team have leased out more than 1 million square feet of commercial space, and he’s been a part of more than 1 billion, and that’s with a b, more than a billion dollars in transactional real estate.

 

Jay Conner

00:01:04

The types of real estate deals that he has done and does cover the gamut from residential units, multi-family, mixed buildings, retail, and office leasing, defaulted notes, and land leasing, you name it. He’s got the experience. And I tell you, he’s got quite a list of big names that he’s been a consultant to, which includes Goldman Sachs. Yes, my guess is consulted Goldman Sachs and some of his customers when it comes to retail leasing. He’s got the big names. His customer list includes companies such as Nike, Nordstrom Rack, Columbia Gap, Banana Republic, Brooks Brothers, Walgreens, and you name it. And recently he has launched a very, very successful podcast called Pre Real, and it’s already being listened to in over 60 countries. And with that, I’m so excited to have as my guest today on today’s show, James Pre Madon welcome James to the show. Had Ja James, that was our new little musical intro there on the show that I hadn’t heard until today.

 

James Prendamano

00:02:22

That’s a heck of an intro, Jay. Wow. I’ve gotta live up to this now. Gosh.

 

Jay Conner

00:02:28

Well, I guarantee you that you’re gonna want to go back and listen to this show just for the intro.

 

Jay Conner

00:02:37

Well, James, you’ve got all kinds of experiences. We just, you know, talking about and, you know, you’ve got a lot of experience raising private money. And since this is now called the Raising Private Money show, let’s talk about private money, and then we’ll get into what your crystal ball says about this crazy chaotic market that we are in and what you see coming around the corner. First of all, let’s be clear, First of all when we say private money, we’re talking about doing business with individuals like you or me. We’re not talking about institutional money. So James, what got you into borrowing private money? How did, how did it all start?

 

James Prendamano

00:03:19

Well, I, I would say necessity’s the mother of all invention, that, that’s a, a famous quote, right? So when, when you’re doing deals and you find yourself in a position where if, especially in the beginning, if you don’t have a, a proven track record and the climate and the markets are not just, just so, it’s tough sometimes to unlock that institutional money. So we found that when you have the right deals and you’ve got the right team and the experience lined up behind it, private money just became the natural place to go to, to get these things funded. So, you know, essentially it was out of a need to be candid.

 

Jay Conner

00:03:56

Well, you know what, James, you and I have got the same exact experience the first six years that I was in business from 2003 to 2009. And my focus is pres single-family residential. I do commercials as well. I’ve done shopping centers, but the focus has been single-family houses. And I remember in January 2009, I had been in this business for six years, and I was using traditional institutional money banks, to fund my real estate deals, and I lost my line of credit. And like you just said, it was a necessity. I mean, I lost my line of credit and I had deals on the contract, and I just had to start asking my fellow real estate investors, How are you funding your deals? They told me about private money, and there we went. So when you first started using private money out of necessity, how did you go about locating people to be your private lenders?

 

James Prendamano

00:04:55

So, it’s interesting, we had the same experience back after the oh eighth crash. We prepared for it, we saw it coming, you know, on the real estate side, we typically see these things a year, a year and a half before they’re reported. So we knew it was coming, we understood what was happening in the market. I also lined up several lines of credit that were collateralized by real estate. Some of them were first positioned, and some of them were the second position, but they were great lines of credit, no balance, never used them because we were preparing for that day when we knew defaulted notes were going to be the rage. That was just the natural progression of what had to happen. And same, same experience, Jay, they, they shut our lines of credit off. Not much of an explanation other than it’s a top-down policy, which in retrospect, I guess I understood the mantra of the banks at the time.

 

James Prendamano

00:05:50

They didn’t have much of, a choice as painful as it was at the moment. So here we are and we’re, we’re looking to transact, we’re looking to, to take this next step in our careers and, and move a little bit into the equity side more while we were building the brokerage business. And what we found was through hard money lenders, believe it or not, that’s where we first started to make the connections on the private money side. We had done a number of deals with hard money. And after those deals get rolling and you start to build a bit of a relationship, and you get to the money behind them, the conduits or the brokers connecting you to the hard money, it was an opportunity for us to just build those relationships and, and talk about perhaps different pathways moving forward. So for us, it was again, the credit lines were shut and it was, we still had great business deals, deals that made all the sense in the world.

 

James Prendamano

00:06:46

And after taking down, and a number of, of hard money deals, I mean, we’re talking 16 plus two, 18 plus four, you know, these were expensive, expensive deals. That’s how we initially met some of the investors and some of them we had in a book of business on the brokerage side, but we hadn’t explored the private money option. And, you know, the deals were still there. So we said, let’s, let’s just start opening the discussion here and, and start communicating and talking about opportunities that, that we have in front of us and see if there wasn’t a better way for us to do this than the hard money.

 

Jay Conner

00:07:23

You just made an excellent point by mentioning the kind of interest rates and points that you were paying for hard money. I think you mentioned 16% interest and then you had points origination fees of either 2% or 4%. And just put that in contrast to private money and the kind of interest that we pay. You know, right now I pay my private lenders 8% in the first position, and 10% in the second position. And you know, one question that I’m getting in this market is, well, Jay, do you see interest rates going up as far as what you’re gonna be paying private lenders since all the rest of the interest rates are going up? And the answer is no. And here’s why. Private money, interest, and the amount that we pay is dependent on what we offer, right? So, you know, the traditional way, James, as you know, of borrowing money for real estate is you go to the, you know, tradition, you go to the institutional money, you go to the bank, you get on your hands and knees, and you put your hands underneath your chin and you say, Please gimme a mortgage.

Jay Conner

00:08:31

Please give me a mortgage. You know, please fund my deal. And you know, in this world of private money that you and I are talking about we’re not chasing, we’re not begging, we’re not selling, we’re actually offering a mortgage. We’re not trying to talk anybody into giving us a mortgage. We’re actually offering a mortgage. You know, people ask me all the time, they say, Jay, how do you have millions and millions and millions of dollars of private money available to fund your deals? And you never ask for money? And the answer is very, very simple. And that is, I put on my teacher hat and I teach people, individuals what private money is, how they can get high rates to return, you know, safely and securely. So, James, I know you have experienced the same thing. I mean, it’s a 180-degree shift between begging for a mortgage versus what you’re offering an opportunity to people. What would your comment on

 

James Prendamano

00:09:24

That? So it is, without a doubt, the end result is you, you do get to set terms, fair marketable terms. Of course, it has to be equitable for the investor. But what I think is critical here is understanding the realities that sometimes on the ground we don’t see quite clearly. And by that I mean as a deal maker, oftentimes we’re chasing, right? We’re feeling like if I just had access to the Capital if I just had access to the money, I know there’s a lot of young deal makers out there, and they could be young in age or young in their career that doesn’t quite understand that once you have the deal if you have a solid business plan and you’ve got the experience and you have the deal, that’s the holy growl. It, it’s not the other way around. And it took me a decade and a half to understand that, we project our issues onto the situation, right?

 

James Prendamano

01:10:23

We don’t have the capital, but we have the deal. Ooh, how, how are we gonna approach this? How are we gonna be able to unlock that capital? And when you’ve got the deal and you’ve got the experience and you have the sound business plan, you really can set terms of course within reason. And of course, they have to be equitable for both sides because we want these to be ongoing relationships, Jay, right? We don’t do this once with an investor and we’re done, most of us as we hit our stride, we do this over and over and over in recycling money, with the same investors time and time again. And for them, the challenge is finding those safe deals, finding a reliable deal maker that understands the markets and can shepherd their money through in the safest way possible. You know, which to me has always been and always will be real estate. So, it’s a matter of I think optics and perception and understanding that you are the asset. If you’ve got those deals and, and you, you, you know what you’re doing, obviously in the marketplace, you really can set the terms here and, and make a deal that works for both parties. The hard money, has a place, institutional money of course has a place, but the private money really is where, where it’s at.

 

Jay Conner

01:11:34

James, what kind an impact as far as profit? In other words, what kind of profits have you made on deals because you had the private money and the relationships in place and you know, there’s a keyword right there? A synonym for private money is relationship money. Either relationship that you’ve already got in place or you know, you learn how to start growing your network so you have additional new relationships that you can nurture and start doing business with. But just what kind of an impact has private money had on your business?

 

James Prendamano

01:12:11

It’s impossible to quantify candidly. You know, when, when you’re doing deals and you’re, you’re, you’re taking the hard money stuff and again, there’s a place for it. But when you’re, you’re performing your deal and you’re looking at 18 plus four, I think is the highest we ever paid. And I remember it was a, a savvy, savvy investor had said, Well, you know, the user is 24%. I’m doing you a favor here at 18 plus four, that’s a partner. You know that that’s almost a quarter of your deal that you’re paying out. And there are all sorts of guarantees and confessions of judgments and all sorts of ugly paperwork you sign when at least we were signing when we were taking those deals. So when you, you realize there’s this world of folks out there that don’t have an end to real estate, they don’t have the experience, they don’t understand deals the way we do.

 

James Prendamano

01:13:03

It’s tough to put a value on that Jay. And I think that we sell ourselves short as deal makers far too often. And when you, you recognize that there is a massive amount of money on the sidelines, always good market, bad market, there are always folks looking for safe places to put their money that’s gonna outperform whatever fund or opportunity that they’re currently in. That’s generally just a few points. So it, it’s really the, it’s hard to, to put a dollar on it because it’s as big as your deals can be. We’ve done multi-multi million dollar shopping centers and we’ve done $150,000 homes. The percentages are where you win, right? The difference between the non-traditional lending sources we’re talking about, or private money and the ability to scale and continue to renew these lines and, and these opportunities as you go from deal to deal, it’s the, it’s as big as your bandwidth and your deal will allow,

Jay Conner

01:14:00

You know, James, you just mentioned that, you know, we’re offering private lenders an opportunity and my question is, is, you know, where else can an individual that’s got investment capital or retirement funds or whatever, where else can they put their money safely and securely and get the kinds of rates returned that we pay ’em even at 8%? The reason I raise that question is the local bank right now, even with the increase in interest rates that we’ve seen, has been seeing this market now for some time, which is crazy anyway, right now, I just checked it last week, you know, every Thursday, USA Today newspaper publishes on the front page of the money section, the national average certificate of deposit yields that banks and credit unions are paying in the United States. And as of last Thursday’s publication, James, the average 12-month certificate of deposit yield in the local bank is 0.97%, less than 1% as to what the banks and credit unions are paying out. And you come along and, you know, ask, I mean, and you offer someone 8%, well my lands, that’s eight times more than they can get, you know, just by putting it in some kind of, you know, a traditional investment like that. James, what advice would you give to someone that’s, that’s a real estate investor? Maybe they’re new, maybe they have never raised private money and they’re looking to raise private money. Given your experience, how would you, and what advice would you give them on how to start?

 

James Prendamano

01:15:48

Do you want my honest answer? Speak to Jay. Sure. I tell you know I’m five years in and I learned more in an hour with you than I have in quite some time, so I really enjoyed our conversation, but short of speaking to you, I would tell them that mindset, again, I don’t mean to harp on it, but I really think that it, it’s so important. There are some opportunities now as, as rates are rapidly increasing where you can go get three, three, and a half percent from your bank if you tie your money up, in different opportunities that they’re offering. But those opportunities are for a moment in time, it’s typically for a 10 or 11-month stretch and they’ll recast based on where rates are. This is a cycle, folks. It goes up and it goes down and it comes back up and it goes back down.

James Prendamano

01:16:37

We forget that when we’re in it because the stakes are so high, I get that. But it’s important to keep an eye on tomorrow and understand what tomorrow’s gonna look like. And it’s important for your investors to keep an eye on that also. So if, if we start to get pushback from investors saying, Oh, I can go get, you know, three and a half or 4% in, in the bank and, and tie it up for 10 months, absolutely, God bless, go do it. But when you call me next time, you won’t be at the top of the list, right? This is something we’ve done through good markets and bad. It’s something that we’ve been blessed with and we’ve delivered on time and time again. And it’s, you know, building those relationships. Understand you are the value, and be fair in your, in your offerings to your private investors. Make sure that you’ve got a rock-solid business plan. Make sure that, your fiduciary is in the right place that their money had damn well be as important if not more important than your money in any transaction. That’s the way we’ve always looked at it. We’ve been very conservative, and you can be conservative and do really, really well.

 

Jay Conner

01:17:42

Well, James, I appreciate the shout-out on telling, telling them to talk to Jay if you wanna start out on private money. So let’s give away, a fantastic, valuable gift here. I’m so excited. I just finished writing my brand new private money guide, which is called Seven Reasons Why Private Money will Skyrocket your real estate business and help you build incredible wealth. This will get you on the fast track to private money and put you in a position very, very quickly where you don’t have to worry about missing out on any deals or opportunities because you didn’t have the funding. You can download this private money guide for free at www.JayConner.com/MoneyGuide. That’s www.JayConner.com/MoneyGuide. And that will get you on the fast track to Private Money.

 

Jay Conner

01:18:44

James, I briefly mentioned it, but I want to dive into it with you now. There’s a lot of concern, there’s a lot of fear, there’s a lot of anxiety out in the marketplace right now, and rightfully so. I mean, we’ve got inflation at a 40-year high and that’s using the rates that the government has put out, which I do not believe. I think inflation is even much higher than what’s being published. You’ve got mortgage interest rates that have skyrocketed, and of course, I get it. I mean, one of the only ways they can control inflation is to slow down spending by raising interest rates. You got real estate values that have shot up 25% in one year and now this year it’s pulling back. What do you, where do you see this real estate market going, say through the rest of this year and right on into, 2023? Is there a concern? What do people do to prepare themselves in order to invest the wisest?

 

James Prendamano

01:19:58

Yeah, so there, there are calls for concern. If you’re not prepared, If you are prepared, then this, this, where’s it viewing? This is the greatest buying opportunity of, our life. We think this is gonna be, a bigger opportunity than we saw through 2008, up to 2010, 11, and even some of 12. But you’ve gotta be prepared, right? The key for us is sustainability, making sure that you can get to the other side. We started to caution clients a year and a half, two years ago, if you were going into all the rage was the multi-families then, right? How many doors did you have and how many deals were you getting invested in? And you know, I’ve never seen a performer that didn’t look good on first blush. And as you start to pour through these pro performers and you start to really take a deep dive, that’s where you can start to see some of the cracks and, and some of the weaknesses there.

 

James Prendamano

02:20:55

The ability to secure debt at a fixed rate for a specified period of time that you believe will get you to the other side of the rainbow is the key for us. We believe this is a cycle. We, yes, this is gonna be one of the more difficult ones too, get through, but again, that breeds opportunity. And if you have access to capital and fixed rate debt for a significant amount of time, significant is 3, 4, 5 years, we believe that comfortably gets you to the other side of the rainbow, if you will. Man, this is, this is, this is it, this is the time that you should be doubling down. At least that’s what we’re doing. We’re doubling down on the opportunities here. When we spoke, on my show, Jay, I had said off the air before we started, I didn’t know if there was a better time in history to have you on the show because finding this alternative for financing is going to be everything.

 

James Prendamano

02:21:54

The banks are going to continue to tighten up. We think the bigger banks are gonna sit on the sidelines for a bit. The small to midcap banks are gonna experience a bit of pain as those deposits start to drop. Then, the co the covid money burned off. Those deposits start to drop in the banks, yet the banks still have that outstanding debt. And it’ll be interesting to see how they, they navigate when those notes come due, a lot of 1, 3, 5-year money was issued two and three years ago, that’s gonna put you dead smack in the middle of this thing. And you’re gonna be seeking ways to refi out even if you’re a performing note, even if you have a performing asset. You know, there was a period of time not too long ago when there was no debt. We were, we were talking to some syndicators about six months ago and they said, Well, the worst thing that happens is we don’t quite hit our numbers and you know, the rents aren’t quite where we think they’ll be and maybe we can’t pull as much equity out as we thought.

 

James Prendamano

02:22:50

And I said, Guys, the no, the worst thing is you can’t get debt, institutional debt, right? You can’t get refinanced out. That’s the worst case. This offers an amazing opportunity to line those exits up and have the cash available so that you can replace them at a reasonable rate. You can continue to execute that business plan and get to the other side of the rainbow.

 

Jay Conner

02:23:15

Yeah. James, you said just a moment ago, to prepare yourself. Well, the best way I know to prepare yourself for a huge landslide of being able to pick and choose which foreclosures you wanna buy is by getting the money lined up with private money. You know, I remember back in 2007, eight and nine when I lost my line, when I lost my lines of credit, you had all these foreclosures coming, and of course, this is a whole different scenario as to why all these foreclosures are now opening up this year. I mean, foreclosures year to date right now are 187% up above year to date last year. And so I remember the, my first year of losing my line of credit at the bank, James, I tripled my business. And how was it that I tripled my business when the banks shut down and were not loaning money?

 

Jay Conner

02:24:15

It was because of the private money that I was able to line up and then I was able to pick and choose which deals it was that I wanted to do. That’s how we, our business by having access to the capital. And I can tell you quite frankly, having access to the capital is actually more important than the actual interest rate of the points that you’re gonna pay. But again, in this world of private money, it’s you that’s, that’s, you know, determining what rates you’re gonna pay by, you know, setting the rate, you set the rate you set the term. But yeah, as you just said, James, you know, in every market where there’s chaos, there is just as much opportunity, but you gotta prepare yourself. Right? And you also said a moment ago, James, you know, you may be having, you know, you had that three-year note or that five-year note and the banks may be called that due. Well, guess what? You can also use private money to refinance existing properties that you have in case they need to be refinanced. You’re not using private money just for purchases, but you’re also gonna use it, you know, for refinancing. Any other thoughts? Any other thoughts, James, on the market that we’re looking at?

James Prendamano

02:25:31

No, just the cash is gonna be king. As you said, if, if you have access to the capital, the sellers of this short paper that is coming, as you noted, foreclosures are already up 187%. I think we have a long way to go, short of a massive pivot by the Fed. I know in London, we saw a bit of a pivot and it’ll be interesting how long the Fed can resist following suit there, which would just push this problem further down the line and compound it exponentially. But short of that, I think we’re in for a couple of years where if you have access to that cash, that’s what folks are gonna want to know. On the other side of the table that are short selling and, and writing this bad debt off is, can you pick it up? Do you have the cash? Do you have proof of funds? Can you close quickly? And if it’s yes, yes, yes, yes, you’re up to the top of the list, then you can pick and choose those deals.

 

Jay Conner

02:26:21

I can’t think of a better reason why someone would get involved in private money right now. In order to get ready, James, I want to wrap up our final segment here on raising private money, Talking about your mindset. You have done some huge deals, you know, so there’s one, there’s one mindset for single-family houses and investing in those, there’s an entirely different mindset for doing commercial deals. Much, much bigger deals. If someone’s never done that or is having trouble getting their mind wrapped around doing that size of a deal, but wants to, how do you speak with someone on going from that 200, $300,000 single-family house to a multimillion-dollar commercial project?

James Prendamano

02:27:14

So without a doubt, educate yourself. You know, there are so many tools available today that weren’t available just 20 years ago when we were doing it. You know, there’s a famous interview with Elon Musk and the interviewer asked, you know, how did you, you learn or how did you get into this, this place where you’re sending rockets up into space? And he had said that he, he learned watching YouTube and the interviewer chuckled and, and he was obviously there’s a lot more behind it than that, but he was pretty stoic in his, his response. There’s so much information available out there, take advantage of it. Go hustle, Put the grind in, and find a mentor. This, this community is amazing. If, if you reach out to 10 investors, chances are you’re gonna get two or three of ’em to sit down and have lunch or at least jump on a zoom and help you out.

 

James Prendamano

02:28:05

There’s a lot of good folks out there that wanna see, you know, the next run of people to get in the game. That’s the way it works. Pass that knowledge on. So I think that’s the single most important thing. Don’t be afraid, of making the leap because of the size of the transaction. Just make sure that you’re educated, make sure that you understand, and maybe for the first few you have someone in the deal that’s been here before that understands what’s around the corner, that understands how to build an as bulletproof of a model as you can to get to that other side of the rainbow. But that’s it. If you’ve done your homework, you’ve got a solid business plan and you’re gonna put the hustle in, there should be nothing that stops you.

 

Jay Conner

02:28:45

James, you recently launched your podcast called Pre Real and I had the pleasure of being a guest on your podcast recently. Your website is www.PreReal.com. James, talk a moment about this podcast, what the focus is, and I mean, you’re already, you know, being heard in over 60 countries now. Why did you start the podcast and, and talk about it?

 

James Prendamano

02:29:18

So for us, it was a couple of things. I was very uncomfortable doing this to be candid, terrible fear of speaking, hated to do the videos and hated to make the content. I had all this knowledge kind of rattling around up in here, but it was very difficult for me to articulate it and to get on a show. And when Coronavirus hit it, it just felt like the perfect opportunity for us to find a way to stay in touch with our customers, our clients, folks that we’ve done deals with for decades now. And it was a way for us to get some of the local folks on and get their message out about what was happening in the community. And, you know, we, we saw this as a personal challenge, but also a, a benefit for the community, and it just kind of took off from there.

James Prendamano

03:30:05

Again, you know, you have all of the concerns. Who’s gonna come on my show? Nobody wants to talk to me. What am I gonna talk about? And if you just have a conversation about real estate, if you’re passionate about it, it’s easy. When I’m in my subject matter, Jay, I can, I can go like we’re doing now, right? So for me, it was a way to get out of my comfort zone and provide a conduit for folks in my community, to connect and get their message out during Covid. And it just took off from there because again, the community is, is amazing. Folks are so willing to help and, and so willing to participate and, and you know, we’ve got a, we’re booked out now for months because people just want to get their word out and their message out. And it was a great opportunity. It’s something that was really hard for me to do, but it, I could say at this point, it was the single most profound thing that I have done in my 25 years in the business

 

Jay Conner

03:30:58

Is www.PreReal.com the best way for someone to connect with you?

 

James Prendamano

03:31:03

Yeah, I think just jump on the website www.PreReal.com. All our information is on there and you can get in touch with me or anyone from the team.

 

Jay Conner

03:31:10

That’s awesome. James, thank you so much for taking the time to come here and be on raising Private Money. What an inspiration you are a man. Thank you so much.

 

James Prendamano

03:31:20

I appreciate you, Jay. Thank you.

 

Jay Conner

03:31:22

All right, thank you. Well, there you have it my friend, another episode of Raising Private Money. And I need your help. I need you to think of someone that you could share this episode with that would really make a difference in their real estate investing career or their interest in real estate investing. What an amazing guest I’ve had today. So please share the episode with someone else. And if you’re watching on YouTube, be sure and click that bell so you don’t miss out on any other fantastic shows that we have. Be sure to follow us if you are on iTunes. We love the ratings and the reviews, so we look forward to having you join us right back here on the next episode of Raising Private Money.

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