The Power of Mastermind Groups in Real Estate Investing With Jay Conner

The Power of Mastermind Groups in Real Estate Investing With Jay Conner

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Credits to:
https://www.youtube.com/@Keystone.Private.Capital
"Revolutionize Your Investing: Jay Conner on Leveraging Private Money in Real Estate"
https://www.youtube.com/watch?v=ivHYcpky90Y

In an enlightening episode of the Raising Private Money podcast, Jay Conner, a seasoned real estate investor, joined Angel Gonzalez on Taking the Leap Into Commercial Real Estate Podcast and shared his transformative journey from relying on traditional banking systems to embracing private money lending. This shift not only revolutionized his investment strategies but also paved the way for a more lucrative and less stressful approach to real estate investing.

Jay Conner's Background and Early Journey
Jay Conner embarked on his real estate investment journey in 2003, focusing primarily on single-family houses in a small market in Eastern North Carolina. With approximately 40,000 people in his market, Jay successfully made an average profit of $82,000 on 2-3 deals every month. Initially, he relied heavily on local banks for funding, which was a conventional approach but came with its own set of limitations.

The Turning Point in 2009
January 2009 marked a significant turning point for Jay. The global financial crisis prompted his primary banking partner, BB&T, to close his line of credit. This unforeseen setback could have been catastrophic. However, it led Jay to discover an alternative financing strategy through private money lending, which he was introduced to by his friend Jeff Blankenship. This discovery was a game-changer.

Understanding Private Money
Private money involves individuals using their investment capital or retirement funds to finance real estate deals. Unlike hard money, which is institutional and comes with stringent conditions, private money is more flexible and borrower-friendly. Jay emphasizes that private money lending allows borrowers to set the terms and conditions, making it a more appealing and less cumbersome option compared to traditional financial institutions.

Strategies for Attracting Private Money
Jay's strategy for attracting private money was rooted in education rather than solicitation. He invested time in educating his community about private money and the benefits of self-directed IRAs. By leading with a servant's heart and offering valuable knowledge rather than directly asking for money, Jay successfully attracted $2,150,000 in the first 90 days. Today, he manages $8,500,000 in private funds from 47 lenders.

The Importance of Having Funds Ready
One critical lesson Jay imparted was the importance of having funds lined up before securing deals. Contrary to the advice of some "gurus" who suggest finding a deal first and expecting the money to follow, Conner advocates for securing the money upfront. This allows for confident and swift offers, giving investors an edge in competitive markets.

Timestamps:
00:01 Raising Private Money Without Asking For It
03:50 Lost credit line during the global financial crisis, discovers Private Money
10:07 Napoleon Hill's "Mastermind": Collective wisdom from groups.
10:57 Mindset is crucial for success in real estate.
16:42 Distinguish between private money and hard money.
18:50 Widow invests $1,250,000 retirement in real estate.
22:51 Use self-directed IRA funds to gain excess.
25:15 Borrow $150k, buy for $100k, gain $50k.
27:28 Private money: no credit checks, close quickly.
31:01 Motivated sellers search on Google
36:22 Patience pays: The next offer was $628,000 cash.
37:23 The Money Comes First

Private Money Academy Conference:
https://www.JaysLiveEvent.com

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
http://www.JayConner.com/MoneyPodcast

Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal.

https://youtu.be/mglfayFyCnQ

#RealEstate #RealEstateInvesting #RealEstateInvestingForBeginners #Foreclosures #FlippingHouses #PrivateMoney #RaisingPrivateMoney #JayConner

YouTube Channel
https://www.youtube.com/c/RealEstateInvestingWithJayConner

Apple Podcast:
https://podcasts.apple.com/us/podcast/private-money-academy-real-estate-investing-with-jay/id1377723034

Facebook:
https://www.facebook.com/jay.conner.marketing

Twitter:
https://twitter.com/JayConner01

Pinterest:
https://www.pinterest.com/JConner_PrivateMoneyAuthority


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