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Property Growth: How Banjo and Erica Raised $3.3 Million in Private Money


In the challenging realm of real estate investing, Banjo, and Erica Camardelle have emerged as a dynamic duo. As guests on Jay Conner’s popular podcast, “Raising Private Money,” they shared their remarkable journey of raising $3.3 million through private money lenders. Their story is a testament to determination, innovation, and strategic networking, providing invaluable insights for both novice and seasoned investors.

Struggling with Cash Flow and Early Challenges

When Banjo and Erica launched their business in 2018, they faced the same obstacle many entrepreneurs encountered: a lack of capital. Despite their innovative approach to creative deals, which often involved offering existing note owner financing instead of cash payments upfront, they soon found themselves constrained by financial limitations. With scarce capital, their ability to purchase new properties dwindled, leading to a temporary halt in their business activities.

Additionally, the couple encountered operational challenges. The absence of robust systems and processes meant that most of their time was consumed with property rehabbing, diverting their focus from closing new deals. These initial setbacks underscored the necessity of securing a reliable source of funds to sustain and grow their venture.

The Breakthrough: Learning to Raise Private Money

A game-changer for Banjo and Erica was discovering the art of raising private money. By tapping into a network of private lenders, they managed to secure funding for their real estate transactions without relying on their own capital. Their first private lender marked a significant milestone, allowing them to navigate the market with newfound confidence and financial backing.

Their strategy revolved around understanding the mutually beneficial nature of private lending. Private lenders could enjoy predictable, high rates of return, while Banjo and Erica leveraged their funds to acquire and rehab properties efficiently. This symbiotic relationship became the cornerstone of their successful business model.

Private Lender Luncheons: A Networking Masterstroke

One of the duo’s most effective strategies for attracting private lenders has been hosting Private Lender Luncheons. Initially intimidating, these luncheons have now become a preferred method for Banjo and Erica to introduce their private lending program. By gathering around 25 acquaintances—including team members, friends, and family—and providing an overview rather than a pitch for specific deals, they created a low-pressure environment conducive to discussion and education.

The luncheons emphasized key aspects such as protection and the benefits of partnership, making prospective lenders feel secure and valued. Attendees were given forms to express their interest levels, which Banjo and Erica later followed up on through phone calls. This non-direct approach allowed potential lenders to express interest without feeling pressured, fostering genuine connections and trust.

The Impact of Networking and Community Engagement

Banjo attributes a significant portion of their success to the power of networking. Regularly engaging with potential contacts in places like gyms, clubs, and social gatherings has been instrumental in building a broad base of private lenders. These interactions often began with casual conversations, evolving into educational sessions about private money lending.

Addressing the educational gap, Banjo and Erica found that many of their prospective lenders (around 90-95%) were initially unaware of private lending’s benefits. By positioning themselves as educators, they effectively demystified the process and attracted a diverse pool of investors.

Educational Outreach and Consistent Communication

Their approach to private money lending is deeply rooted in education and transparent communication. Banjo and Erica focus on providing valuable insights through personal interactions, Jack’s teachings, and Banjo’s book, “Low-Risk High Returns.” This educational material, available on Amazon and through their company website, serves as a resource for anyone interested in understanding private lending.

Their method of communication is also tailored to suit the preferences of their audience. Banjo prefers phone calls, while Erica capitalizes on the efficiency of text and Facebook messaging, ensuring that they reach prospective lenders most effectively.

Faith and Accountability at the Core

Central to their company, Salt and Light Property Solutions, is the embodiment of their Christian faith. Inspired by Matthew 5:13-16, the name reflects their commitment to accountability and integrity. This foundation not only guides their business practices but also strengthens their relationships with lenders, fostering an environment of trust and reliability.

Conclusion: A Model for Success

Banjo and Erica Camardelle’s journey from struggling entrepreneurs to successful real estate investors showcases the transformative power of private money. Through strategic networking, educational outreach, and a strong foundation of faith and accountability, they have raised $3.3 million and managed over 50 deals. Their story serves as an inspiration and a blueprint for others looking to succeed in the competitive world of real estate investing. For those eager to learn more, visiting jconnor.com/moneyguide can provide a valuable starting point, with a free guide outlining seven reasons why private money can skyrocket your real estate investing business.

10 Discussion Questions from this Episode:

  1. How did Banjo and Erica Camardelle’s background and initial experience in creative property deals influence their approach to real estate investing?
  2. Discuss the challenges Banjo and Erica faced when they ran out of capital and had to pause their business activities. How did they overcome these challenges?
  3. What role did private money play in transforming Banjo and Erica’s real estate business, and how did it change their approach to property investing?
  4. How do Banjo and Erica structure their Private Lender Luncheons, and why do they prefer this method of networking?
  5. What are some key strategies that Banjo and Erica use to educate potential lenders about private lending without directly asking them for money?
  6. Why is networking in social environments like gyms and clubs important for Banjo and Erica’s private lending program, and how do they leverage these opportunities?
  7. How does the non-direct approach used by Banjo and Erica during their private lender luncheons foster interest and participation in their lending program?
  8. In what ways did Jay Conner and his team influence Banjo and Erica’s decision to focus on private money lending and achieve their business goals quickly?
  9. What is the significance of borrowing up to 75% of a property’s after-repaired value (ARV), and how does this practice benefit Banjo and Erica’s real estate projects?
  10. Reflect on the name “Salt and Light Property Solutions” and its biblical reference. How do Banjo and Erica integrate their faith-based values into their business practices?

Fun facts that were revealed in the episode: 

  1. Banjo and Erica live on a 60-acre property in Southwest Mississippi and are involved in outdoor camping and combat sports.
  2. Despite the intimidating start, Banjo and Erica prefer hosting Private Lender Luncheons and have successfully raised $3.3 million through 12 such events.
  3. Banjo introduced a feedback-driven approach at luncheons by casually asking attendees about the food and presentation, which helped improve their networking strategy.

Timestamps:

00:01 The property-peddling power couple from Mississippi.

07:26 Investing in education for financial freedom.

12:20 Ran out of cash, learned private money.

13:34 Got speeding ticket; advised a friend on investments.

18:57 Murphy’s Law: Rehabbing costs more and delays.

21:30 Mindset shift: Private lending over traditional banks.

23:20 Realized the impact of helping others through investing.

27:50 Networking leads to sharing private lending strategy.

29:56 Private lenders are unaware of self-directed IRA opportunities.

33:03 Seek improvement through feedback at luncheons.

37:19 Learned private lending from Jay Connor’s event.

41:31 Quit your job, embrace challenges, and achieve better results.

42:29 Commitment to success; book for investors discussed.

46:29 Explains “salt and light” from the Bible.











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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.

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https://youtu.be/QyeBbDOF4wo

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Listen to our Podcast:

https://www.buzzsprout.com/2025961/episodes/16144479-property-growth-how-banjo-and-erica-raised-3-3-million-in-private-money

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