***Guest Appearance
Credits to:
https://www.youtube.com/@relationalrealestateguy
“Money Tree Real Estate Investor Podcast: Jay Conner”
https://www.youtube.com/watch?v=v-nXZQ6ZqYY&t=70s
In the world of real estate investing, securing funding is often the biggest hurdle for both new and experienced investors. The conversation between Jay Conner and William Holland shines a light on the immense impact of private money and how it can transform an investor’s approach, confidence, and results.
Jay Conner grew up in the housing business but hadn’t found his way into real estate investing until 2003, after working with mobile homes and manufactured housing. When financing for mobile homes dried up, he and his wife, Carol Joy, turned their sights toward single-family homes. What started as an uncertain new adventure in his small North Carolina market blossomed into a thriving business, flipping hundreds of houses with average profits far beyond what many would expect in such a small area.
The real breakthrough for Jay Conner came not just from finding good deals, but from solving the funding challenge in a way most investors overlook. Early on, he relied on traditional bank lines of credit to finance deals. That all changed abruptly in January 2009 when his local bank shut down his credit line without warning, despite years of excellent customer history. The aftermath of the 2007 financial crisis had trickled down, and Jay Conner found himself facing two under-contract properties with significant profit on the line but no access to funds.
This pivotal moment forced him to seek alternative solutions. Enter private money—funds provided by individual investors rather than institutions or hard money lenders. Through the guidance of a fellow investor, Jay Conner learned the essential differences and opportunities presented by private money, including leveraging self-directed IRAs that could passively invest in real estate deals tax-free.
The traditional borrower-lender dynamic, especially with banks, often puts investors in a position of begging or feeling at the mercy of underwriters. In contrast, Jay Conner built his own “private money program” that flipped this equation around. By developing clear terms—interest rates, loan-to-value ratios, payment frequency—he approached potential private lenders with confidence, teaching them how the program worked and letting the opportunity speak for itself. Instead of asking for money, he offered a clear business case, inviting lenders to participate in a predictable, secured, and attractive return-on-investment.
One of the standout advantages of private money is the speed it enables. With private funds lined up, investors can confidently make cash offers on properties—often closing within seven days. This quick turnaround increases the likelihood of offer acceptance, especially from owners selling properties themselves (FSBOs). Other buyers might dangle higher prices, but the ability to deliver an all-cash close in a week often tips the scales in favor of the private-money-backed investor.
Jay Conner also emphasized that the world of real estate investing is filled with common misconceptions. One persistent myth he actively disputes is the notion that “if you get the deal, the money will show up.” In reality, waiting until a property is under contract puts unnecessary pressure on the investor and can result in missed opportunities. By focusing first on lining up funds, investors move from a position of weakness to one of strength, able to make more offers and act with much greater certainty.
Education and mentorship came across as vital themes. Early mistakes cost Jay Conner significant sums, lessons he now shares with others through coaching, events, and his podcast. For those considering this path, having access to guidance, a proven system for attracting private money, and strategies for structuring deals ensures a much smoother and more profitable journey.
Ultimately, Jay Conner’s story demonstrates that successful real estate investing is not reserved for those in large markets or those with deep pockets. By adopting private money strategies, even investors in small towns can compete, scale rapidly, and enjoy substantial profits—all while building lasting relationships with their funding partners. The key is to put funding first, educate your finance partners, and create win-win opportunities that keep the money—and the deals—flowing.
10 Discussion Questions from this Episode:
- Jay Conner emphasizes the importance of lining up private money before searching for deals. How does this approach impact a real estate investor’s confidence and ability to make offers?
- What are the advantages of closing a deal in 7 days with all cash, as discussed by Jay Conner, compared to the traditional 30-45 day closing period?
- William Holland and Jay Conner discuss their backgrounds in real estate. How did Jay Conner’s experience in mobile homes influence his later success in single-family homes?
- What are some of the mistakes Jay Conner admits to making early in his real estate investing career, and how can new investors avoid similar pitfalls?
- The concept of “private money” is central to this episode. How does Jay Conner’s private lending program differ from traditional bank loans and hard money lending?
- How does Jay Conner utilize self-directed IRAs in real estate investing, and what benefits does this offer to potential private lenders?
- What is the “magic script” Jay Conner uses when contacting private lenders to put their money to work, and why is it effective?
- Why does Jay Conner believe it’s a mistake to buy real estate in your personal name, and what alternatives does he recommend?
- The episode covers the strategy of buying properties “subject to” the existing mortgage. What are the risks and rewards associated with this strategy, and what type of seller is most likely to agree to it?
- Jay Conner mentions his Private Money Academy and his commitment to teaching others. What motivates him to coach new investors, and how has coaching impacted his own investing journey?
Fun facts that were revealed in the episode:
- Jay Conner and his wife Carol Joy have rehabbed over 475 houses in their small market of eastern North Carolina, where their target market is just 40,000 people, yet they average $78,000 profit per house.
- Jay Conner transitioned from the mobile home industry, where his father once owned the largest manufactured housing company in the nation, to real estate investing after financing for mobile homes dried up in 2003.
- Jay Conner never asks for money directly when raising private capital; instead, he teaches potential lenders his private money program, so by the time he calls with a deal, they are already eager to get involved.
Timestamps:
00:01 Secure Funds First for Deals
05:02 From Mobile Homes to House Flipping
06:59 Starting Real Estate in 2003
10:06 Line of Credit Shutdown
16:09 Private Money for Real Estate
17:04 Mastering Private Money & Real Estate
21:39 Profitable Deals with Distressed Sellers
23:48 Private Money Academy Podcast
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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