***Guest Appearance
Credits to:
https://www.youtube.com/@duratusproperties
“Ep. 25 – How to Raise Private Money for Real Estate with Expert Guest Jay Conner”
https://www.youtube.com/watch?v=gSMuEeoodHM&t=23s
In a recent episode of the Raising Private Money podcast, Jay Conner joined Maura McGraw on her Mastering Real Estate podcast and shared his invaluable insights on mastering real estate investment. The discussion was rich with practical strategies and personal anecdotes providing a roadmap for novice and seasoned investors. Here’s a comprehensive dive into the key takeaways from their conversation.
The Fallacy of “Get the Deal, Money Will Follow”
Both Jay Conner and Maura McGraw reflected on a pervasive piece of advice commonly given to real estate professionals: “Get the deal under contract and the money will show up.” Though well-meaning, this advice often leads to undue stress and poor decision-making.
Maura recounted her experience with her first coach who urged her to secure deals without first lining up the necessary funding. This led to precarious situations where she struggled to manage finances. Jay echoed her sentiments, emphasizing that a successful real estate strategy must start with securing money.
Building a Resilient and Strategic Mindset
Jay Conner detailed how his career was transformed by adopting a resilient mindset. After being cut off from banks during a pivotal moment, Jay didn’t despair. Instead, he pivoted towards private money. This mindset—converting setbacks into opportunities—is crucial for anyone in real estate.
He highlighted the importance of budgeting for unexpected costs, as the unpredictability of real estate projects is governed heavily by Murphy’s Law. Investors are bound to face unforeseen issues. Being mentally prepared and financially buffered for these hiccups sets successful investors apart.
From Humble Beginnings to Scaling New Heights
Jay Conner’s story is inspiring. He began his journey modestly by focusing on one house at a time. Through hard work and a systematic approach to building his team and automating his processes, he gradually scaled his operations. Technology played a crucial role in managing leads and streamlining team communication.
The Power of Private Money
A significant portion of the discussion focused on the advantages of private money. Jay Conner believes that securing funds before finding deals provides a solid foundation for growth.
For those interested in raising private money, Jay Conner suggests:
- Defining Your Program:
Establish key details like interest rates, loan length, and payment frequency. - Targeting Potential Lenders:
Focus on individuals with idle retirement funds. - Partnering with Self-Directed IRA Companies:
This facilitates easier transfer of funds for lenders.
The 7-Day Private Money Challenge
One of Jay’s major highlights is his 7-day private money challenge. This accelerated learning program provides daily actionable insights on attracting private money without directly asking for it. Jay outlines a revolutionary approach where the borrower sets the terms, separating the educational aspect from presenting actual deals. This method not only empowers investors but also builds trust with potential lenders.
Balancing Work and Life
Throughout the episode, Jay emphasizes the importance of balancing work and life. To reduce stress and create more freedom for himself, Jay automated as much of his business as possible. This transition allowed him to pursue other interests, including his passion for writing music with his wife. Notably, one of their songs, “It Was Time,” has even been featured in movies at Universal Studios.
Must-Read Resources and Recommendations
Jay Conner credits much of his success to continuous learning and mentorship. Among his top recommended resources are:
- “University of Success” by Og Mandino:
A life-changing book that offers timeless wisdom. - “The Go-Giver” by Bob Berg:
A book that reinforces the value of leading with a servant’s heart. - Building Relationships with a Reliable Team:
Real estate investment is a team effort. Having trusted professionals—realtors, attorneys, home inspectors, and general contractors—can make all the difference.
Takeaways and Further Learning
Listeners who want to delve deeper can join Jay Conner’s Private Money Academy or his 7-day challenge. They can also explore his book, “Where to Get the Money Now,” which offers extensive knowledge on raising funds for real estate deals.
For real estate professionals seeking property investment opportunities and partnerships, particularly in Alabama, Maura McGraw’s Doradus Properties is actively looking for collaborators.
10 Discussion Questions from this Episode:
- Jay Conner and Maura McGraw both discussed the prevalent advice in the real estate industry about getting deals under contract without securing money first. How do you think this advice impacts new investors and their financial stability?
- Jay emphasized the importance of having a successful mindset and taking 100% responsibility in real estate investing. What are some real-life applications of this mindset that you think are crucial for new investors to understand?
- Maura mentioned the stressful money management situation she experienced with her first coach. How could her outcomes have been different if her coach had provided advice on securing funds first?
- Jay shared his struggle of being cut off from bank funding and finding success through private money. How can investors prepare for such sudden changes in their financing options?
- Both Jay and Maura agreed that real estate investments are unpredictable and require resiliency. What are some strategies they mentioned for managing unexpected costs, and how could they be applied in practice?
- Jay recommends building relationships with a reliable team in real estate. How significant do you think these relationships are in the success of real estate investments, and why?
- Jay Conner has diversified into various business ventures and emphasizes work-life balance. How can real estate investors scale their business while maintaining a healthy balance in their personal lives?
- Jay provided a step-by-step approach to attracting potential private lenders. What are the key components of this approach, and which elements do you find most effective?
- How does Jay Conner’s advice on prioritizing securing funds before finding deals differ from traditional real estate investment strategies, and what advantages does it offer?
- The episode concluded with information on Doradus Properties’ interests in buying and flipping properties. How can listeners in the Birmingham, Mobile, or Baldwin County areas benefit from connecting with Doradus Properties, and what steps should they take?
Fun facts that were revealed in the episode:
- Jay Conner has enjoyed writing music for Christians and the church with his wife since 1996, with their song “It Was Time” being featured in movies at Universal Studios.
- Jay’s favorite book is “University of Success” by Og Mandino, which he finds life-changing.
- Jay’s strategy for raising private money involves teaching investors about self-directed IRAs and private lending without directly asking for funds.
Timestamps
00:01 Raising Private Money Without Asking For It
05:53 Transition from mobile homes to single-family houses.
09:42 Real estate finance made accessible and manageable.
11:45 Private lenders learn about self-directed IRAs.
13:53 Pitching bank deals are different from private money.
18:36 Real estate investors must have a successful mindset.
20:19 Event plus response equals outcome, liberation through choice.
26:27 Entering business for freedom and wealth.
27:57 Transition from chaos to organization through systems.
32:49 Prioritize money first, unique real estate approach.
35:43 Establish a relationship with a self-directed IRA, copy program.
38:59 Build relationships with real estate attorney & team.
43:20 Podcast sponsored by Duratus Properties in Alabama.
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
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