029: The Money is in the Money

May 15, 2018

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Multifamily Legacy Episode 029 - It’s the Money or Real estate is the Vehicle, the Money is in the Money

Today, my guest is Jay Conner, a real dude who has raised an unbelievable amount of capital and money. He has no superpowers, but he did learn the power of raising private money.

In this episode, we talk all about money. Years ago, Jay was told nasty smelling stuff is really the smell of money, so he looked for the nastiest, ugliest foreclosure he could find and ended up making $40,000. What could be better than being passionate about what you do and getting paid really well for it?

Topics on Today’s Episode:

Turning point in Jay’s career was when he went with private money because banks were no longer giving money for real estate investments in 2008-2009
Jay put getting private money on hyper drive; and didn’t raise, but attracted $2,150,000 in new funding in less than 90 days
Money comes from people he knows, and people they know
Once you get private lenders and build relationships, the problem is not having enough money but using the money and finding deals
Real estate is the vehicle, but the money is in the money
The Godfather Method: Go get the deal under contract and the money will show up, but Jay wants the money and then get the deal under contract
Corey’s Kahuna Boardroom is about finding money, deals, and operations
When talking to a new potential private lender, don’t ask them to make too many decisions initially, just talk about the program at first and discuss the deal later
Secret: Never ask for money; offer an opportunity for people to join your program
Let your tools help people get high returns on their investment capital
Jack Canfield’s Rule of 5: Do five things a day, five days a week to help move your business forward
Be authentic and be yourself; like attracts like - therefore, since you are not going to attract people who are not like you, then you should be you
Jay describes the differences between hard money and private money
Jay’s Offer: 5 easy steps to locating and doing business with existing private lenders

Links and Resources Mentioned:

Quotes:

“When you develop the ability to raise capital, it will unlock so many things.” Corey Peterson

“I had a choice. I could quit, or I could remember, ‘I cannot fail unless I choose to quit.’ And failure was not an option.” Jay Conner

“I backed into this world of private money. I’m not talking about hard money.” Jay Conner

“Like attracts like - therefore, since you are not going to attract people who are not like you, then you should be you.” Jay Conner

Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.