"The Real Estate Radio Show | Jay Conner | The Private Money Authority"
In the world of real estate investing, access to funding is crucial. Jay Conner, a seasoned expert in private money lending, brings a wealth of knowledge to those looking to elevate their investing game. On a recent episode of the Raising Private Money podcast, Jay Conners joins Larry Shakman on the Real Estate Radio Show, and shares how private money transforms the landscape for investors and why it could be a game-changer for those looking to enter the market without depending on traditional bank loans.
The Concept of Private Money Private money in real estate revolves around securing funds from individual investors rather than institutional lenders like banks. Jay explains that this approach provides unparalleled flexibility. As a borrower, you can set the terms and conditions, including interest rates, loan periods, and the loan-to-value ratio. This power dynamic shift is significant compared to the traditional loan process, where banks dictate terms.
Why Choose Private Money? Jay outlines several strategic advantages of using private money: Control Over Terms: As the borrower, you establish the rules—eliminating the tedious approval processes and credit checks typically required by banks.
Fast Access to Funds: Investors can close deals quickly, often within seven days, making their offers more competitive in fast-moving markets. Unlimited Potential: Because there is no limit to the number of private lenders you can work with, there's also no cap on the amount you can borrow. This provides a pathway to scaling your investment portfolio more aggressively.
Building Relationships with Lenders Jay emphasizes the importance of cultivating relationships with potential lenders, often within one's personal or professional network. Many individuals are not aware of the benefits of shifting their investments from traditional savings to real estate through self-directed IRAs or liquid capital. By educating them, investors open up new avenues for funding. Jay shares an anecdote about raising over $2 million in less than 90 days just by teaching his network about private lending.
Finding Motivated Sellers Understanding where to find deals is as crucial as having the funds to purchase them. Jay discussed how he connects with motivated sellers, focusing on for-sale-by-owners (FSBOs) and properties not listed on the traditional market. He leverages Google pay-per-lead vendors, ensuring that potential sellers reach out to him, creating warmer and more fruitful conversations. This proactive approach not only saves time but also enhances negotiation power by making investors a welcome guest rather than an unsolicited cold caller.
Timestamps: 00:01 Exploring Private Money Lending 08:53 Financial Crisis Reflection 11:34 Self-Directed IRAs: An Overview 13:21 Investing in Real Estate via IRA 17:35 Leveraging FSBO for Real Estate Gains 19:27 Assessing For-Sale-By-Owner Homes 24:40 Pay Per Lead for Qualified Leads 28:48 Housing Issues and Financial Hardships 30:03 Empathy in Property Dealings 32:55 Earning Multiple Checks Explained 36:21 Real Estate Financial Planning 41:41 Consistent Private Lending Rates 44:32 Private Lending Fundamentals Explained 47:32 House Flipping Timelines and Strategy 50:30 Investor Assurance and Flexibility 55:45 Passive Real Estate Investment Strategies 56:32 Insights from Jay on Real Estate
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What is Private Money? Real Estate Investing with Jay Conner
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.
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By: Raising Private Money For Real Estate - Jay Conner Title: Real Estate Funding Redefined: Jay Conner on the Impact of Private Money Sourced From: www.youtube.com/watch?v=SXAf7s7xKuQ
