Today’s guest, Jay Conner
is known as The Private Money Authority, and
he is here to teach us his “no ask” approach to raising money from private lenders for real estate investments.
Jay grew up in the mobile home industry. His father was the largest retailer of manufactured homes in the nation up until the late 80s.
Jay, however, transitioned into single family homes and has been a full-time real estate investor now for over 15 years. He used banks for his financing the first 6 years, but when the banks cut off his line of credit during the financial crisis in 2008/09, he had to find a new source of funding… which turned out to be a blessing in disguise, as he was introduced to private money lending.
In less than 90 days he raised over 2 million dollars. His average profits last year were $67,000 per deal.
Join us as Jay divulges why his profits are so big, plus:
- How much of his own money he uses
- How he finds the lenders
- The difference between private and hard money
- The worst advice he’s seen given
- What comes first… the deal or the private money
Jay also shares his 5-step process to the quickest way to raise a lot of money… all without asking!
Will this approach work with land?
Jay says it will and that land investors shouldn’t be missing out on deals because they don’t have the funding.
There are also other options to locking up a property that we teach here at The Land Geek, but Jay gives us a lot to think about on today’s episode of The Art of Passive Income!