***Guest Appearance
Credits to:
https://www.youtube.com/@TroyKearns
“How to Buy Real Estate With Other People’s Money – PRIVATE MONEY (Jay Conner)”
https://www.youtube.com/watch?v=h-AogwKTEOA
In a recent episode of the Raising Private Money podcast, Jay Conner—a respected investor, coach, and mentor—joined Troy Kearns to dive deep into strategies that are working in today’s ever-shifting property market. Their candid conversation offered not only actionable insights but also inspiring perspectives for both beginners and seasoned pros.
Navigating Shifting Markets
One thing Jay and Troy agree on: the real estate landscape is always on the move. Rather than fearing change, Jay emphasizes the importance of adapting and staying informed. “You have to stay close to the ground, plugged into what’s happening nationally and locally,” Jay advises. Whether new interest rates, inventory shortages, or emerging technology, savvy investors continuously educate themselves and adjust their strategies accordingly.
Creative Financing is King
Perhaps the biggest theme in their discussion was the power of creative financing. Jay, known as “The Private Money Authority,” shared how he’s helped countless investors secure deals without relying solely on banks or traditional lending. Private money, he explained, means working with individuals—think professionals, retirees, and even neighbors—who are looking for a solid return on their investment, typically backed by real estate.
Jay and Troy broke down the steps: find people who have idle cash or underperforming retirement accounts, show them how lending it in real estate can be safer and more profitable, and structure straightforward win-win deals. Jay pointed out that this approach is especially crucial during times when conventional lending tightens or property values fluctuate.
Building Relationships First
Both Jay and Troy stressed that real estate remains, at its heart, a people business. Whether working with private lenders, sellers, or other professionals, trust and clear communication are paramount. Jay’s personal approach—educating potential investors before ever asking for funds—reflects this philosophy. By building relationships and proving yourself as a reliable partner, you not only secure more deals but also develop a solid network that supports your long-term success.
Practical Deal-Making Tips
Throughout their chat, Troy prompted Jay to share practical advice listeners could apply in the field. Among the tips:
- Focus on Off-Market Deals: Both speakers highlighted the value of sourcing properties before they ever hit public listings. This could mean direct mail campaigns, networking, or leveraging existing relationships.
- Offer Solutions, Not Just Transactions: Jay’s success comes from approaching sellers as a problem-solver—understanding their unique situations and crafting offers that address both their needs and his business goals.
- Always Have Multiple Exit Strategies: Particularly in uncertain markets, Jay suggests having several options for every deal. That might include wholesaling, rehabbing and selling, or holding as a rental.
Mindset Matters Most
Beyond tactics, Jay and Troy delved into the mindset required for true real estate success. Jay spoke candidly about the importance of perseverance, lifelong learning, and thinking like an entrepreneur. “You have to treat this like a business, not just a hobby,” he reminded listeners, emphasizing systems, consistency, and the willingness to pivot when necessary.
Troy, echoing these sentiments, shared stories of tough deals and lessons learned, underlining that setbacks are just part of the journey. For those just starting, both men encouraged taking action, no matter how small the first step, and finding mentors who can offer guidance and accountability.
Final Thoughts
Jay Conner and Troy Kearns’ energetic exchange served as both a tutorial and a motivational kick in the pants. Whether you’re a new investor or a veteran, their advice is clear: adapt to market changes, get creative with financing, put people first, and keep pushing forward.
10 Discussion Questions from this Episode:
- Mindset Shift: Jay Conner talks a lot about the “real estate between your ears.” What mindset changes do you think are essential for real estate investors who want to successfully raise private money?
- Traditional vs. Private Money: What are the biggest differences between traditional financing and raising money from private lenders, according to Jay Conner, and how do those differences impact deal-making?
- Education as a Tool: Jay emphasizes “putting on the teacher hat” when introducing private lending opportunities. Why do you think education is such a powerful strategy in attracting private lenders?
- Fear and Rejection: Many investors struggle with the fear of rejection when raising money. How does Jay’s approach help overcome this fear, and what techniques could you adopt from his method?
- Assumptive Close: Jay mentions using the “assumptive close” rather than pitching or asking for money directly. How might this approach change your success rate in securing funding?
- Building Trust: Jay’s process relies on building trust and relationships before ever pitching a deal. What are some ways you can build similar trust with potential private lenders?
- Self-Directed IRAs: The use of self-directed IRAs is mentioned as a funding source. How does this work, and what are the potential benefits for both the investor and the lender?
- Dealing with Financial Crises: Jay shares how being cut off from traditional bank funding in 2009 forced him to seek out private money, which ended up tripling his business. How can adversity create new opportunities in real estate investing?
- Learning and Growth: Jay references books and masterminds that contributed to his personal and professional transformation. What role does ongoing education play in your career or business growth?
- Adapting Over Time: Both Jay and Troy discuss the importance of adapting and reinventing yourself in business. How can real estate investors ensure they continue to evolve and succeed as the market changes?
Fun facts that were revealed in the episode:
- Jay Conner emphasizes the importance of building strong relationships with private lenders, explaining that trust and ongoing communication are crucial to his real estate investing strategy.
- Troy Kearns and Jay discuss how they both started in real estate with little knowledge and learned most of what they know through trial and error—proving that persistence is key to success in the industry.
- The conversation highlights some creative deal-structuring tactics that Jay uses, such as buying properties with very little of his own money by leveraging private funding, showcasing the power of thinking outside the box in real estate investing.
Timestamps:
00:01 Mindset Shift for Real Estate Funding
03:46 Unlocking Real Estate Private Lending
09:46 Self-Directed IRA Transition Setup
11:41 Trust and Criteria in Funding
17:07 The Power of the Right Question
18:47 Discovering Private Money for Real Estate
22:47 Confidence, Fear, and Business Mindset
24:23 Real Estate Financing Guide
27:31 Jay’s Articulate Expertise Surpasses Peers
31:15 Books, People, and Masterminds
34:20 Follow Jay Conner’s Insights
Free Report:
https://www.jayconner.com/MoneyReport
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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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