***Guest Appearance
Credits to:
https://www.youtube.com/@famousinterviewswithjoedimino
“Famous Interview with Joe Dimino Featuring Nationally Renowned Real Estate Investor Jay Conner”
https://www.youtube.com/watch?v=oSz4f4Zdjfc
The real estate industry is known for its cyclical nature, but few periods have been as tumultuous and instructive as the COVID-19 pandemic. Jay Conner, an experienced real estate investor and private money specialist, recently shed light on how he navigated these challenges and adapted his business to thrive in a changing economic landscape. In this engaging episode of “Raising Private Money,” where Jay joined Joe Dimino on his Famous Interview With Joe Dimino podcast, Jay opens up about his journey, revealing key strategies and personal philosophies that have shaped his success.
The COVID-19 Impact: More Cash Chasing Fewer Deals
The COVID-19 pandemic revolutionized many sectors, and real estate was no exception. During this period, Jay Conner observed a staggering shift in available cash for investments, jumping from $18 trillion to $31 trillion. Investors sought safer harbors for their funds amid the pandemic’s economic uncertainties, with real estate offering reliable returns. Interestingly, Jay faced the unique challenge of having more money available than deals to fund, a problem many would envy but which required strategic maneuvering to harness effectively.
Explaining Real Estate to a Child: The Simple and The Complex
When explaining his job to a group of third graders, Jay likened himself to an HGTV flipper. By simplifying it to helping private lenders make high returns safely, assisting sellers in distress, and coordinating with contractors for rehabs, he made the complex nature of his work understandable. His description as a “real” flipper, unlike the scripted versions on TV, beautifully encapsulates his multi-faceted role in real estate.
The Foundation: Early Influences and Career Beginnings
Jay’s journey into real estate is deeply rooted in familial influence. Growing up in North Carolina, he learned the ropes from his father, Wallace Conner, who was a significant figure in the manufactured homes industry. Jay’s early exposure to business, communication, and leadership came through summer jobs at his father’s company, which indelibly shaped his career ethos. His father’s management style, famously known as the “3 D’s: dictate, delegate, and disappear,” also fostered an early understanding of efficient business operation.
Inspirations and Heroes: The Mentors Who Shaped Jay
Behind every successful individual are influences that light the path. For Jay Conner, figures like Zig Ziglar, Dale Carnegie, and Og Mandino played instrumental roles. Training tapes from Zig Ziglar instilled a servant-based approach to business, emphasizing the importance of helping others to achieve one’s own success. Books like Dale Carnegie’s “How to Win Friends and Influence People” and Og Mandino’s “University of Success” further enriched his mindset and approach to real estate and business.
Triumph Over Adversity: The 2009 Financial Crisis
One of Jay’s most defining experiences came during the 2009 financial crisis, which abruptly severed his lines of credit at local banks. Faced with this challenge, he pivoted to private money, a form of financing he had not previously explored. With guidance from a friend, he learned about private money and self-directed IRAs. Embracing a teaching approach, he began to educate others about private money while effectively solving his own financing issues. This pivot allowed him to attract $2,150,000 in private money in less than 90 days, transforming a potential setback into a significant advantage.
Wisdom and Impact: The Importance of Mindset
Jay’s story is a testament to resilience and the power of a positive mindset. He lives by the principle encapsulated in the formula E+R=O (Event + Response = Outcome), which underscores the importance of our responses to life’s events in shaping outcomes. This approach encourages stepping back, assessing situations from a broader perspective, and actively choosing responses that lead to constructive outcomes. Jay’s ability to maintain optimism and find opportunities in challenges is central to his success in real estate investing and beyond.
Legacy and Future
Jay takes immense pride not just in his professional accomplishments, but in his personal life. Celebrating 38 years of marriage to his wife, Carol Joy, underscores the stability and support that have underpinned his career. At the heart of Jay Conner’s journey is a commitment to making a significant impact. Through his work in real estate and education, he continues to transform lives, one deal at a time.
For more insights and to join Jay’s community, visit https://www.PrivateMoneyChallenge.com and embark on your path to mastering private money in real estate.
10 Discussion Questions from this Episode:
- Impact of COVID-19: How did the COVID-19 pandemic impact Jay Conner’s real estate business, and what surprising trends did he notice in the availability of private money post-COVID?
- Career Explanation: When Jay Conner explained his job to a group of third graders, he emphasized helping people through real estate. How does this perspective shape his approach to business?
- Childhood Aspirations: Jay Conner mentioned wanting to be a magician as a child. How do his childhood aspirations and skills in magic translate into his current career in real estate?
- Creative Process: Jay Conner talks about the creativity involved in flipping houses. How important is creativity in real estate investing, and what role does it play in his daily business operations?
- Influence of Family: In what ways did Jay Conner’s father influence his career path and work ethic? How significant is this kind of familial mentorship in shaping one’s career?
- Personal Heroes: Jay Conner cites multiple heroes, such as Zig Ziglar and Dale Carnegie. How did the teachings of these individuals influence his business philosophy and approach to real estate?
- Handling Financial Crisis: How did Jay Conner handle the financial crisis of 2009 when his line of credit was unexpectedly closed? What lessons can be learned from his approach to overcoming this challenge?
- E+R=O Formula: Jay Conner discusses the formula E+R=O (Event + Response = Outcome). How has this mindset helped him in his career, and how can it be applied to other areas of life and business?
- Significance and Impact: Jay Conner mentioned reaching a point of significance in his life where he seeks to make an impact on others. How does this desire for significance drive his current business ventures and public speaking?
- Relationship Advice: Jay Conner attributes a lot of his success to choosing the right life partner. How important is it to have a supportive partnership in achieving career success, and what qualities does he value in this relationship?
Fun facts that were revealed in the episode:
- Jay Conner revealed that he wanted to be a magician when he was in 3rd grade and that he is, in fact, very good at performing magic.
- His father, at the impressive age of 91, is still actively engaged in the real estate business, currently building 350 houses.
- Jay shared a charming story about meeting his wife, Carol Joy, on his first Sunday in Texas, and they are now getting ready to celebrate their 38th wedding anniversary.
Timestamps:
00:01 More money than deals for real estate.
05:43 Learned business skills from father in real estate.
07:21 Influenced by Ziglar, Carnegie, and Mandino.
10:28 Bank revoked real estate credit unexpectedly, 2009.
14:28 Always multiple answers; take responsibility in life.
17:56 I am positive, and find good in challenges.
20:13 Download free guide on real estate investing.
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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.
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