Credits to:
https://www.youtube.com/@peer2peerrealestate434/featured
Peer 2 Peer Real Estate Show 255: How Private Money Saved Jay Conner’s Business
In a compelling episode of the Raising Private Money podcast, Jay Conner, the renowned Private Money Authority, shares invaluable insights from his transformative journey in real estate investment. With a focus on the potent lever of private money lending, Jay Conner narrates how he turned adversities into opportunities, spearheading a movement that redefines funding in real estate.
The Shift to Private Money
After facing the harsh reality of traditional bank financing limitations—highlighted vividly when his credit line was unexpectedly closed—Jay embarked on a new path. His discovery of private money lending not only salvaged his pending deals but also unlocked a reservoir of untapped financial resources. Within just 90 days, Jay notably amassed over $2 million from private lenders, a testament to the efficacy and urgency of this alternative financing.
What Makes Private Money Different?
Jay Conner’s story emphasizes the distinction between traditional hard money lending and private money loans. The latter provides personalized negotiations on interest rates and loan terms, offering both flexibility and control to real estate investors. Unlike hard money which often comes with stiffer terms and higher interest rates, private money can stem from acquaintances, family, or individual investors, imparting a more lenient and adaptable funding structure.
Strategic Advantages of Interest-Only Payments
A significant advantage Jay discussed is the option of making interest-only payments to private lenders. This approach benefits lenders with consistent returns and offers investors better cash flow management, enabling them to maximize their capital on multiple projects. This symbiotic financial relationship fosters growth and sustainability in the investor’s portfolio.
Extending the Network
Venturing beyond his immediate circle, Jay leveraged networking events and platforms like
www.QuestTrust.com to connect with prospective lenders who are specifically interested in funding real estate ventures. He highlighted how these venues serve as fertile ground for cultivating relationships that extend beyond mere transactions, enhancing his financial strategy and broadening his investment footprint.
Empowering Through Education
Understanding the critical role of knowledge and skill in leveraging private money, Jay Conner also promotes his Private Money Academy. This platform serves as a cradle for budding and experienced investors alike, providing education, resources, and live consultations to navigate the nuances of private money lending successfully.
Conclusion: A Testament to Perseverance and Innovation
Jay Conner’s narrative is not just about financial gain but also about the resilience and strategic innovation required in today’s real estate market. His journey underscores the importance of adaptive financing strategies in a landscape fraught with challenges. For those looking to delve into real estate or enrich their understanding of innovative financing methods, Jay’s experiences and insights offer a valuable compass.
Innovative Real Estate Financing:
“Private money is the biggest and fastest way for even a new real estate investor to get a great big check-in their checking account to fix your cash flow problems.” – Jay Conner
10 Lessons Covered in this Episode:
- Private Money Basics: Understanding fundamental differences between private and hard money for real estate investments.
- Securing Private Funds: Strategies to secure $2,150,000 in private money quickly and effectively.
- Importance of Networking: Leveraging networking events to connect with prospective private lenders.
- Interest-Only Payments: Benefits of opting for interest-only payments to maximize cash flows and investor profits.
- Finding Private Lenders: Effective tactics to discover lenders in warm markets and through specialized data feeds.
- Utilizing Self-Directed IRAs: Tapping into self-directed IRA funds by networking with account holders at relevant events.
- Step-by-Step Guidance: A structured approach to engaging potential private lenders without directly soliciting funds.
- Educational Resources: Advantages of joining Jay Conner’s Private Money Academy for ongoing real estate education.
- Creative Financing Options: Exploring creative real estate financing methodologies outside traditional banking systems.
- Commitment to Impact: Sharing personal motivations for real estate, emphasizing the potential to serve and impact positively.
Fun facts that were revealed in the episode:
- Jay Conner started his entrepreneurial journey in real estate at the age of 40, and just within 90 days, he secured $2,150,000 in private money to fund his deals.
- Despite a major setback when his bank closed his credit line unexpectedly, Jay managed to bounce back and now works with 44 private lenders, handling about $8,500,000.
- He still uses a landline phone as of the time of the interview, which is quite unusual in the age of digital communication.
Timestamps
00:01 – Raising Private Money Without Asking For It
05:22 – Seek, find, ask. Believer in karma’s power.
07:35 – Real estate magazine featured vivid property listings.
12:11 – Impressive story of action and perseverance.
14:11 – Transitioned to the creative side after the first 6 years.
21:50 – Establish a relationship with a self-directed IRA for investing.
24:14 – Private money puts you in control financially.
29:55 – Private money is necessary when the seller requires cash.
31:58 – Real estate investors need cash for purchases.
36:22 – Provide high returns safely and securely. No volatility.
40:21 – Note term varies depending on the source of funds.
41:33 – Use private money, keep notes open, and substitute collateral.
45:08 – Find existing private lenders through public records.
48:05 – Find private lenders in public records easily.
51:56 – Making impact, serving, church, college, no retirement.
Private Money Academy Conference:
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 money or credit.
What is Real Estate Investing? Live Private Money Academy Conference
YouTube Channel
https://www.youtube.com/c/RealEstateInvestingWithJayConner
Apple Podcasts:
Facebook:
https://www.facebook.com/jay.conner.marketing
Twitter:
https://twitter.com/JayConner01
Pinterest:
https://www.pinterest.com/JConner_PrivateMoneyAuthority
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