If you’ve ever wondered how successful real estate investors consistently land incredible deals, you’re not alone. On a recent episode of the “Raising Private Money” podcast with host Jay Conner, Dave Payerchin shared powerful, actionable insights from his career, where he’s raised over $50 million in private money and built an impressive rental portfolio. Dave’s advice is gold, whether you’re looking for your first deal or leveling up your investment business.
Mindset: Your Most Important Asset
Dave starts by emphasizing the value of mindset and personal development. Before getting into tactics, he grounds his success in what he calls the “core four”—his relationship with God, his health, his family, and finally, his business. For aspiring investors, this serves as a reminder: true success is holistic and must be built on a solid personal foundation.
Crucially, Dave shares a personal lesson about overcoming limiting beliefs—especially the common thought, “I’m not enough.” Through consistent, small commitments (like daily habits), you build self-trust and confidence. In the context of real estate, your mindset directly affects your ability to network, take risks, and follow through on deals.
Why Dave Loves Single-Family Rentals
Dave is a strong believer in affordable housing—specifically single-family rentals, especially in stable, cash-flowing markets like Columbus, Ohio. He points out several reasons why:
- Demand: Single-family homes are in high demand since people prefer houses over apartments, especially families who want a yard and privacy.
- Accessibility: It’s easier to raise money and get financing for single-family deals. You don’t need complex investment structures or syndications.
- Stability: Markets like the Midwest aren’t seeing the same volatility as coastal areas, making them ideal for long-term cash flow.
The Power of Private Money
Both Dave and Jay agree: private money is one of the most powerful tools in real estate. It allows you to scale your investing without using your capital and enables you to compete as a “serious buyer.” Dave’s own story starts with necessity—having no money or credit, he realized he needed to raise 100% of the capital (purchase and rehab) to get started.
Often, new investors make the mistake of “shopping for cheaper money” before they’ve built a track record, thinking they should negotiate for the best rates right away. Dave’s advice? Get in the game, even if you pay higher rates at first. Over time, as you close deals and build credibility, you’ll attract lenders offering better terms.
Finding Deals: The Action Steps
So, how do you break into the business and start finding great deals?
- Put Yourself Out There: Start by telling everyone what you’re doing. Dave suggests overcoming the natural fear of being judged or not taken seriously. The market rewards those who educate and share.
- Network the Right Way: Use social media strategically—on Facebook, show your family and authentic self. Mix in regular updates about your deals, but keep it natural and genuine. The goal is to build relationships, not just blast advertisements.
- The Personal Touch: Dave is a master at relationship building. He regularly sends hundreds of personalized holiday texts to his network. Not every message is about business. It’s about staying top-of-mind and nurturing relationships without strings attached.
- Transparency with Lenders: When it comes time to fund deals, Dave keeps it simple for his private money partners, showing basic numbers and security (like a mortgage or promissory note). He distinguishes his deals by avoiding syndications, instead offering lenders first-lien security on a single property for maximum safety.
Final Thoughts
Dave Payerchin’s approach is refreshingly honest and actionable. He reminds us that the secret sauce isn’t just about tactics for finding deals—it’s about building trust, serving others, and relentlessly putting yourself out there. If you want to find great deals and raise private money, start by working on yourself, building your network, and always acting with integrity and transparency.
For more great insights and to connect with Dave, check out his company at www.SellHouseColumbus.com or his real estate consulting at www.CreamLaunch.com. And remember—finding great deals is just one conversation away. Start talking, start sharing, and watch the opportunities flow.
10 Discussion Questions from this Episode:
- How did Dave Payerchin’s personal experiences shape his approach to raising private money and real estate investing?
- What are some of the key elements Dave emphasizes in building trust with private lenders?
- Dave mentions the importance of distinguishing between individual asset investments and fund syndications. Why is this distinction significant, and how does it benefit the lender?
- How does Dave’s “core four” philosophy guide his personal and professional life, and what can listeners learn from it?
- Discuss the mindset shift required to move from fear of putting oneself out there to actively networking and raising private money, as described by Dave.
- Dave talks about the stability of single-family rentals in affordable housing markets. Why does he believe this asset class is particularly resilient?
- What strategy does Dave employ to nurture relationships with potential lenders without discussing business directly every time?
- How does Dave Payerchin’s background and early necessity to find private money shape his current methodologies?
- What are some common mistakes real estate investors make when raising private money, according to Dave, and how can they avoid these pitfalls?
- Why does Dave stress the need to fulfill personal commitments to oneself, and how does this relate to building self-worth and success in business?
Fun facts that were revealed in the episode:
- Dave Payerchin credits much of his personal and business success to what he calls his “core four”: his relationship with God, his health, his relationship with his soon-to-be wife and daughters, and finally, his business. By keeping these priorities in a specific order, he maintains balance in his life—a unique framework that guides both his daily routine and long-term goals.
- One of Dave’s secret weapons for building strong relationships with potential lenders isn’t an elaborate marketing campaign—it’s sending personalized text messages. He sends out hundreds of thoughtful, holiday-themed texts to his contacts throughout the year (complete with emojis!), strengthening connections without talking business.
- When discussing personal growth, Dave shared a funny but true insight: people are either “switches” or “dials” when it comes to habits like drinking. Switches, like Dave, are all-or-nothing, while dials can be more easily moderated. Recognizing which type you are isn’t just helpful for personal development—it also influences how you set boundaries and build discipline in your career!
Timestamps:
00:01 Real Estate Growth with Dave Payerchin
04:40 Embracing Small-Scale Real Estate
06:37 Switches vs. Dials
11:56 Ambition Overcame Financial Barriers
14:51 Get in the Game Now
18:41 Family-Focused Social Media Strategy
20:30 Stay Connected with Holiday Texts
23:02 Private Asset Lending vs. Funds
26:19 Invest with Dave Payerchin;
https://www.SellHouseColumbus.com
26:30 Columbus House Buying Testimonials
28:27 Hire Dave Payerchin as your Real Estate Coach
29:06 Real Estate Investment Coaching Program
32:09 Start with Small Daily Commitments
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