Raising Private Money with Jay Conner

Alex Pardo’s journey in real estate began with the ambition many entrepreneurs share: pursuing time freedom and financial independence. Starting in 2005, he quickly made a name for himself by wholesaling and flipping single-family houses in Miami, closing over 700 transactions. Despite the financial benefits and the rewards of building a thriving business, Alex soon realized that the hustle and constant deal-chasing left him unfulfilled and drained.The structure of the business, with its significant overhead costs and dependency on continuous transactions, soon felt more like a burden than a source of joy. Even though Alex managed a capable team, the daily grind and the lack of a consistent cash flow were at odds with his deeper goals and vision for life.The Wholesaling Grind: An Unfulfilling SuccessAlex Pardo’s journey in real estate began like many ambitious entrepreneurs: driven by the promise of time freedom and financial independence. In 2005, he launched into wholesaling and flipping single-family houses in Miami, eventually closing over 700 transactions. Though this line of work generated substantial revenue, it wasn’t long before Pardo realized that the grind of constantly chasing deals didn’t offer the joy and fulfillment he sought. He felt trapped within his business as if he had built prison walls around it without having the key to escape.Despite having a successful team and well-structured systems, the business model was misaligned with his vision. Instead of delivering the time freedom he desired, it consumed his mental and emotional energy.The Epiphany: Aligning Business with Personal VisionIn 2018, during a cruise with his wife, Alex experienced a pivotal moment. Even though he was physically on vacation, his mind was consumed by business concerns, preventing him from being fully present. This lack of fulfillment prompted him to take a deeper look at his goals and the business model sustaining them. It became clear that his wholesaling business, despite its financial rewards, did not resonate with his deeper life goals.Realigning with his vision required more than a superficial change; it called for a complete overhaul. He recognized that while the business was financially healthy on the surface, it was not providing the bottom-line profitability or personal satisfaction he wanted. He made more money as a solopreneur in earlier years than he did running a large team with significant overhead.Transition to Self-Storage: A Strategic PivotAfter shutting down his wholesaling business, Alex took a sabbatical to reconnect with his personal goals and spiritual beliefs. This period of reflection led him to identify self-storage as a better-aligned business model. Self-storage offered the stability and cash flow he sought, without the constant need to chase new deals. It also provided a lower-maintenance option with fewer moving parts compared to wholesaling.Why Self-Storage?Self-storage presented several advantages, including its low-maintenance nature and the ability to generate consistent cash flow. Unlike the transactional and high-overhead model of wholesaling, self-storage could provide long-term financial security. It also allowed for the potential of building a business that required fewer employees and could be more seamlessly systematized and automated.Importance of Alignment and CommunityA recurring theme in Alex's story is the importance of aligning one's business with personal goals and values. He stresses the need for entrepreneurs to understand their vision and create business models that support that vision. This alignment ensures long-term satisfaction and fulfillment, going beyond mere financial success.Both Alex and Jay emphasize the significance of faith and surrounding oneself with a supportive community. Alex’s faith has been a cornerstone of his journey, providing

Welcome to another enlightening episode of "Raising Private Money" with Jay Conner, also known as the Private Money Authority. In today’s episode, we have a special guest, Angela Duncan, an expert in tax lien investing and the host of the highly-rated podcast "Empower Her Money." Angela shares her journey from poverty and abuse to achieving financial success and happiness. This blog post will delve into Angela’s strategies for raising private money, shifting mindsets, and generating consistent returns through tax lien investing.From Adversity to Success: Angela's Remarkable JourneyAngela Duncan’s journey is nothing short of inspiring. Born into a life of poverty and abuse, Angela moved out at 18 and worked three jobs to change her circumstances. Her initial drive to escape poverty led her to excel in banking, financial advising, and real estate. Today, she is dedicated to helping others create wealth through passive investing. Angela emphasizes that shifting one's mindset is crucial. "Understand that you have the power to choose. Once you become aware of your limiting beliefs, you can replace them with empowering ones," says Angela.The Power of Writing It DownAngela highlights the importance of writing down thoughts and goals as a fundamental method for mindset transformation. "Many years of studies have shown that writing something down makes it more likely to stay in your mind," Angela explains. She recommends using visual aids like a large whiteboard to continuously remind oneself of their goals and progress. This practice helps in consistently working on shifting the money mindset from a scarcity perspective to one of abundance.Understanding Tax Liens and Tax Deeds Angela chose tax liens as her focus in real estate investment due to their passive nature and reliability. A tax lien is essentially a lien on a property due to unpaid property taxes. Investors provide the needed tax amount to the government in exchange for interest when the property owner repays the tax. On the other hand, tax deeds involve buying the actual deed to the property, typically at auction, if the owner fails to pay the taxes. Both avenues offer lucrative opportunities for double-digit returns, but they come with different levels of risk and involvement.Raising Private Money: The StrategyAngela emphasizes that raising private money is not a sales process but a solution-providing one. Identifying the right target market is essential. For Angela, retirees looking for steady, conservative returns are ideal candidates. "Connect potential investors to the right vehicle to meet their financial needs," she advises, underscoring the importance of education and understanding investors' goals. By focusing on helping rather than selling, Angela successfully raised over $1,000,000 for her tax lien fund.Achieving Consistent 22% ReturnsOne of the most compelling aspects of tax lien investing is the potential for high, consistent returns. In Florida, for example, tax liens can earn between 5% to 18%. Combining tax lien investments with tax deed investments can balance risk and reward, often leading to a blended, double-digit return on investment. "By diversifying among short-term notes and tax deeds, you can achieve higher returns while managing risk," Angela suggests.Creating Generational WealthAngela discusses how tax liens can be a vehicle for generational wealth, especially when combined with strategic life insurance planning. Flexible policies like Whole Life or Indexed Universal Life (IUL) can serve dual purposes. They provide life insurance while allowing investors to borrow against the policy for other high-return investments. "This strategy not only preserves capital for the next generation but also educates them on building and maintaining wealth," Angela explains.The Importance of MentorshipAngela emph

***Guest AppearanceCredits to:https://www.youtube.com/@multifamilyap360 "How I Raised $2 Million in 90 Days for Property Deals with Jay Conner"https://www.youtube.com/watch?v=5rzX5J_zDaA  Private money has become a cornerstone for many successful real estate investors. Unlike traditional bank loans, private money offers terms generally set by the borrower, enabling rapid deal closures and often leading to significant profits. Jay Conner, a seasoned expert in private money lending, shares his insights in this enlightening episode of the Raising Private Money podcast.Understanding Private MoneyJay Conner's journey into the realm of private money began out of necessity. After his bank abruptly shut down his line of credit during the financial crisis of 2009, Jay had to find alternative funding sources. Fortunately, his close friend Jeff introduced him to the concept of private money — funds sourced from individuals looking to invest their capital or retirement savings in real estate deals. Unlike institutional banks and hard money lenders, private lenders don't require you to jump through hoops. Jay emphasizes that using private money is more about educating prospective lenders than making a hard sell. "I put on my teacher hat and started teaching people in my own network what private money is," he says, which allowed him to raise over $2.1 million in the first 90 days after his bank cut him off.The Mechanics of Private MoneyTerms and TimelinesIn Jay's model, the private money loans he secures are typically for a two-year period. However, the actual use of the money rarely extends that long. Most deals — from acquisition, and renovation, to sale — are wrapped up within six to nine months. Returns for Private LendersJay started paying his private lenders an 8% annual percentage rate (APR) back in 2009 and remarkably, he still offers the same rate today. One might wonder how he sustains such favorable terms for himself, especially given today's higher interest rates. The answer lies in two points: first, 8% is still considerably higher than the 4.5% or 5% one might earn through conventional methods like certificates of deposit; second, Jay makes the rules. He sets the terms that allow him to offer 8% because he is not competing with the strict, often opportunistic terms of larger financial institutions.Finding Success with Private MoneyFinding Private LendersJay categorizes potential private lenders into three main groups:1. Warm Market: People you already know — friends, family, colleagues.2. Expanded Warm Market:This entails deliberately expanding your network, often through organizations like Business Networking International (BNI), which Jay highly recommends.3. Existing Private Lenders:These are individuals already lending money to real estate investors, often found through self-directed IRA custodians who offer regular networking events.Strategies for High-Profit MarginsJay’s average profit per deal is a whopping $82,000, achieved through two key strategies:1. Targeting Off-Market Properties:Jay primarily acquires off-market properties via Google pay-per-lead services. These properties, usually owned by motivated sellers, are not listed on MLS, allowing for better deals.2. Quick Closures: Thanks to private money, Jay can close deals rapidly, often within seven days, which is attractive to sellers in urgent situations, such as impending foreclosures.The Exit StrategyJay's exit strategy varies depending on how he financed the property. If he financed it with cash through private money, h

*** Guest AppearanceCredits to:https://www.youtube.com/@janebayler "How To Raise Private Finance Without Ever Asking For Money - With Jay Conner"https://www.youtube.com/watch?v=CYU_Y9Ff7fE&t=99s In the fast-paced and competitive world of real estate, having adequate financing is a game-changer. In our latest podcast episode of Raising Private Money with Jay Conner, we delve deep into the myriad strategies for raising private money without ever having to ask for it.The Journey from Traditional Financing to Private MoneyJay Conner's journey is one of transformation and adaptation. Growing up in the housing business, Jay initially focused on mobile homes before transitioning to flipping single-family houses. The real game-changer came in 2009 when the global financial crisis led him to lose access to traditional bank funding. This twist of fate pushed Jay to explore the untapped potential of private money and self-directed IRAs. Remarkably, within just 90 days, Jay raised over $2,150,000 in private finance without directly soliciting it, laying the foundation for his innovative fundraising strategy.The Importance of Being Financially PreparedOne critical insight that Jay emphasizes is the importance of having money ready to make offers on properties. He criticizes the overly optimistic advice from some real estate gurus who suggest getting a deal under contract first and expecting the money to show up later. Jay's proactive approach involves securing finance upfront, ensuring swift transactions, and maximizing opportunities in the competitive real estate market. The Role of Networking: From BNI to Community InvolvementJay's strategy for raising private finance transcends traditional methods. He highlights the role of Business Network International (BNI), a networking group designed to foster connections and lead sharing among professionals. BNI's structure, which allows only one member per category, helps streamline connections and build trust. Participating in weekly meetings and one-on-one sessions provides invaluable insights into other members’ businesses and clients. By leveraging BNI, Jay has successfully networked for real estate deals and private lending opportunities.Beyond BNI, Jay stresses the importance of expanding one's network by engaging with the community. Potential private lenders often belong to three main categories: those who know you, those who know someone you know, and those who may become clients through networking. Investing time in community involvement and nurturing these relationships can yield fruitful connections and opportunities for securing private financing.Educating Potential Private Lenders: A Key Element to SuccessNegotiation is a typical part of securing financing, yet Jay offers a refreshing alternative by focusing on education over negotiation. Prospective private lenders often lack understanding of private money or self-directed IRAs. Jay explains that by educating these individuals about his private lending program and the security it offers, he mitigates the need for negotiations. This approach builds confidence and trust among lenders, making them more comfortable and willing to invest. One of Jay’s notable strategies involves offering promissory notes backed by mortgage or deeds of trust, ensuring the property serves as collateral. Maintaining a conservative loan-to-value ratio of 75% further protects the lender, creating a secure and appealing investment prospect.Marketing Strategies: Direct Outreach to Property OwnersFinding profitable real estate deals is inherently challenging, and Jay's marketing approach is designed to maximize success. Rather than relying solely on listings, Jay focus

Private money in real estate isn't just a financial tool; it's a gateway to unparalleled flexibility, control, and success. In this episode of Raising Private Money, hosts Jay Conner and Frank Iglesias deep-dive into the sonic depths of private lending. Whether you're a seasoned real estate investor or a curious newcomer, understanding how to master private money can be the game-changer you need. The Benefits and Responsibilities of Private MoneyGreater Freedom and ControlOne of the resounding themes discussed by Frank Iglesias is the level of control private money offers. As opposed to institutional or hard money lenders, private money allows investors more leeway in terms of flexibility, enabling a smoother, often faster transaction. However, with this level of freedom comes the onus of responsibility. Due diligence is crucial, as missteps can lead to substantial liabilities.Jay Conner's 7-Day Private Money ChallengeAn Accelerated Path to FundingJay Conner takes the opportunity to introduce the audience to his latest initiative—the 7-Day Private Money Challenge. This program is geared towards real estate investors who wish to quickly and effectively raise private money. This rapid-paced challenge aims to equip participants with the tools and techniques needed to secure funds without conventional hurdles.Networking: The Heartbeat of FundraisingBuilding Trust Beyond TransactionsFrank Iglesias sheds light on his preferred methods for raising private money—networking and relationship-building. Far beyond mere business interactions, successful fundraising often stems from establishing genuine relationships. Whether it's joining social circles like church groups or gym communities, places where mutual trust already exists, turning these relationships into financial partnerships can be far more effective.Risk Management and Lender ExpectationsKeeping Risk in CheckMitigating risk when using private money is a vital focus for Frank. He underlines the necessity of assessing the risk tolerance of lenders meticulously. Evaluating deals conservatively and always seeking third-party opinions are strategies that can prevent potential pitfalls. This approach not only safeguards the investment but also builds trust with lenders, providing a safety net for all parties involved.Hard Money vs. Private Money LendingUnderstanding the NuancesWhile hard money and private money are sometimes used interchangeably, Jay and Frank take the time to explain their distinctions. Hard money lenders run a more institutionalized operation, often advancing between 65-90% of a property’s purchase price. Private money lenders, on the other hand, offer 100% financing, providing borrowers with greater latitude. Understanding these nuances is crucial for any investor looking to optimize their funding strategy.Frank Iglesias’ Journey From Hard Money to Private MoneyA Breakthrough in Investment StrategyBoth Jay and Frank share personal anecdotes about their transitions from relying on hard money to embracing private money. Frank recounts the tipping point that made him pivot to private lending—realizing it was a cheaper, quicker, and streamlined alternative. This transition marked the beginning of significant breakthroughs in his real estate endeavors, offering unprecedented control and success.Final Words of Wisdom: Tips and PitfallsThe Do's and Don'ts of Raising Private MoneyTo cap off an enlightening episode, Jay asks Frank to offer some final pieces of advice for the audience. Frank's advice is straightforward yet invaluable. Always revisit your existing network to uncover potential opportunities. Avoid convincing yourself that a deal is flawless without

In the latest episode of "Raising Private Money," host Jay Conner brings on Chris Larsen, a financial strategist who, with over two decades of real estate experience, has impressively raised more than $115 million in private money. Larsen, who began his investment journey at the age of 21, shares invaluable insights on how he transitioned from biomechanical engineering and finance to becoming a private lending and real estate investment authority. Here’s a comprehensive look into the key points discussed in this enlightening episode.From Biomechanical Engineering to Real Estate MaverickChris Larsen's journey into real estate started when he was a young college student juggling degrees in biomechanical engineering and finance at Virginia Tech. His first real estate venture was acquiring a single-family rental property. Despite the heavy academic workload, he demonstrated a knack for recognizing and seizing investment opportunities early on—a skill that would catapult him into various lucrative endeavors over the next 20 years.The Power of Private MoneyJay Conner introduces Larsen as someone who has successfully raised over $115 million in private money. Chris's success is anchored in his philosophy of building trust and mutual benefit. As Jay underscores, the challenge isn't in asking for money but in offering a valuable investment opportunity. Chris emphasizes the importance of shifting the mindset from one of begging or persuading to one of teaching and offering, which is crucial for any budding real estate investor.Understanding Your Network and Raising CapitalOne of the recurrent themes in this episode is the significance of leveraging your existing network. According to Chris, the first step in raising private money is identifying people who might be interested and have the capacity to invest. He advises creating a list that includes the names, phone numbers, and emails of these potential investors. He shares anecdotes from his sales career, notably his time selling knives and later medical devices, to illustrate how crucial it is to build relationships and understand the needs and goals of your prospective investors. By doing so, you’re more likely to offer them opportunities that align with their financial objectives.Infinite Banking: A Game-ChangerChris introduces the concept of Infinite Banking, which he describes as a specialized whole life insurance contract. He shares personal anecdotes and professional tips on how this strategy can serve as an investment tool rather than merely a protective asset. By storing funds in a whole life insurance policy, investors can earn a guaranteed return and simultaneously leverage this cash value for other investments, maximizing their earning potential.Diversifying Beyond Real Estate: The Case for Cash Flow BusinessesWhile real estate forms the cornerstone of Chris's portfolio, he is also a strong proponent of diversifying into cash-flow businesses like car washes. Owning a portfolio of operational businesses not only provides a steady income but also offers opportunities for significant appreciation. Larsen explains that car washes, which bear similarities to real estate in terms of income generation and value addition, can yield substantial returns, especially when scaled.ConclusionChris Larsen’s journey from a young investor to a successful entrepreneur and real estate expert offers invaluable lessons for anyone interested in raising private money and expanding their investment portfolio. His emphasis on mindset transformation, relationship-building, and diversification provides a comprehensive roadmap for financial success.10 Lessons Covered in this Episode: Introduction to Guest's ExperienceChris Larsen has raised over $115 million in private money with over 20 years of re

Renowned real estate mentor Jay Conner shares his journey into private money investing during the 2009 financial crisis, raising over $2 million in less than 90 days. The podcast covers strategies for attracting private lenders through education and a servant's heart approach, navigating SEC compliance, utilizing self-directed IRAs, and structuring emergency money returns for investors.

In the intricate world of real estate investing, assembling the right set of relationships can often be the difference between success and failure. Jay Conner, also known as the Private Money Authority, guides us through the essentials of raising private money. In a recent episode of the "Raising Private Money" podcast, Jay spoke with Kevin Amolsch, a seasoned hard money lender who’s facilitated more than $160 million in capital. This insightful episode sheds light on why having a diversified financial base is crucial and how quick financing options can save lucrative deals.Meet Kevin AmolschKevin Amolsch is a veteran in the real estate lending space with an impressive track record that includes over 2,200 transactions and the management of multiple mortgage funds amounting to more than $750 million in closed loans. He's also a prolific author, having penned books such as "45 Day Investor" and "Fund Your Flip." Kevin’s journey started on Wall Street as a mortgage bond analyst before diving deep into real estate financing.The Need for Different Financial RelationshipsJay Conner opens the discussion by stressing the importance of having various financial relationships in place. While private money from individual real estate lenders can be abundant, there are times it might run short. During such periods, having a relationship with a hard money lender like Kevin can be a game-changer. Quick financing options can rescue deals that require immediate closings, thereby generating opportunities that might otherwise be missed.From Wall Street to Real Estate FinancingKevin shares that his primary entry into real estate occurred at a young age during his college years. Lacking both money and credit, he had to depend on creativity to acquire properties. "The creativity is what is so special about real estate as an industry," Kevin remarks. Over the years, he found his passion lay in financing and structuring deals rather than just buying and selling properties.From Good Deals to Great FinancingKevin’s journey into the financing side began in earnest in 2006, just before the real estate market crash. Instead of being deterred, he saw the crash as an opportunity to raise capital and focus on the lending side. Today, his company, Pine Financial Group, specializes in short-term, value-add, bridge loans for real estate investors.The Importance of Speed in Real Estate TransactionsCase Study: The Fast Closing AdvantageJay illustrates the importance of flexibility and speed by recounting a recent transaction—a beachfront condominium in Atlantic Beach, North Carolina. Despite higher offers on the table, Jay secured the deal because he could close in seven days. "[...] I bought that property for only $425,000, selling it for $595,000," Jay says, highlighting that the ability to offer fast closings can be the key to obtaining high-value properties.Pine Financial Group: Setting Standards in Real Estate LendingA Client-Centered ApproachOne of the distinguishing features of Pine Financial Group is its client-centered approach. Kevin emphasizes, "We are in this for relationships and to help our clients succeed." This methodology means focusing on supporting clients from the pre-approval stage through to the final loan payoff. Such a service model ensures that both parties benefit from repeated, successful transactions.Flexible and NimbleAnother competitive edge of Pine Financial is its flexibility and intimate knowledge of the real estate market, given Kevin and his team's extensive experience as investors themselves. "I'm not in the loan to own business. I'm in the loan to have a lot of loan businesses," Kevin succinctly puts it.Navigating the Lending LandscapePre-Approval Process

In this episode of the Raising Private Money podcast, Jay Conner, along with co-hosts Crystal Baker and Chaffee Thanh-Nguyen, and guest Jay Mora, delves deep into the essential elements of leveraging private money for real estate deals. If you're a real estate investor looking to understand how to raise and use private money to your advantage, this episode offers invaluable insights. The focus is on the common questions private lenders are likely to ask and the strategic importance of setting minimum investment amounts. Below, we break down the key points discussed in this enlightening session.The Vital Role of Private Money in Real Estate DealsJay Conner on the Abundance of Private MoneyJay Conner opens the discussion with a pivotal insight: "There's more private money than you can use." He elaborates with an anecdote demonstrating the importance of sticking to a minimum investment amount. Conversations with potential investors often highlight the availability and abundance of private capital waiting to be tapped by savvy real estate investors. Conner emphasizes that understanding this landscape can significantly impact your success in securing necessary funds.Setting the Minimum Investment AmountCrystal Baker provides her perspective on setting a minimum investment amount, emphasizing flexibility and the benefits of pooling funds from smaller investors. Crystal mentions her minimum investment amount of $30,000 but points out that combining smaller sums from family members or friends can also work. On the other hand, Chaffee Thanh-Nguyen highlights that the optimum minimum investment amount can vary greatly depending on the location and type of investment. Setting a strategic minimum, usually around renovation costs, can ensure you do not undervalue your services or stretch your resources too thin.Preparing for Private Lender QuestionsUnderstanding Common Questions from Private LendersJay Conner introduces a pivotal part of the discussion by listing nine questions that potential private lenders usually ask before funding a real estate deal. Based on a recent webinar with potential lenders, Jay emphasizes the importance of being prepared to answer these questions convincingly. "If they're asking questions, they're interested in lending you money," Jay notes, underscoring the critical nature of these inquiries. Crystal Baker and Chaffee Thanh-Nguyen reinforce the need for thorough preparation to instill confidence in potential lenders.Key Questions to AnticipateJay Conner shares the insights from his recent webinar with investors, highlighting that these questions are not hypothetical but come directly from recent interactions. Important questions include:1. What is the timeline for this investment?2. What guarantees or security can you offer?3. How do you determine the value of the property?4. What is your experience in real estate investing?5. How do you handle potential market fluctuations?Jay advises having clear, honest answers ready, using real-life examples when possible, to build credibility and trust. Chaffee Thanh-Nguyen adds that specificity goes a long way in building lender confidence.Liquidity and Timeline of FundsSelf-Directed IRAs and Investment TimelinesThe episode also touches on another significant aspect: investment timelines, particularly concerning self-directed IRAs. Crystal Baker emphasizes the importance of discussing the timeline and liquidity of funds with investors, especially those considering using retirement funds. Jay Conner acknowledges having both liquid capital and retirement funds, facilitating flexibility in his investment strategies. Crystal points out that while liquid capital can be quickly invested once a deal is available, self-directed IRAs require more

*** Guest AppearanceCredits to:https://www.youtube.com/@bulletproofselling660 "Interview with Jay Conner on Bulletproof Selling"https://www.youtube.com/watch?v=NeNL5xrROfU In the world of real estate investing, raising private money can be pivotal to fueling your business growth. Similarly, in any sales-related field, understanding and speaking your prospect's language can determine the success of your endeavors. In a recent episode of the Bulletproof Selling podcast, hosts Jay Conner and Shawn Rhodes delve into these compelling topics, offering valuable insights from their experiences. Jay shares his journey of achieving a whopping $8.5 million in private funding and teaches how understanding your prospects can transform your sales strategy.Jay Conner's Journey: From Mobile Homes to Private Money MaestroJay Conner, raised in the mobile home business, transitioned into single-family houses in 2003. Initially relying on local banks for funding, Jay faced a significant setback during the financial crisis in 2009 when his credit lines were severed. This period of adversity led him to discover the power of private money lending. Jay soon realized that individual investors could fund real estate deals using their investment capital or retirement funds, setting him free from the dependency on traditional banking institutions.The Private Money ApproachJay has never had to ask for a sale directly or pitch a deal. His strategy revolves around educating potential private lenders about the benefits of private money lending. By wearing his "private money teacher hat" and addressing people’s unawareness, Jay was able to build trust and attract funding without the need for hard selling. His unique approach ensures that he serves his prospective lenders by improving their financial situation, which in turn attracts the funds he needs for his real estate ventures.Understanding and Speaking Your Prospect's LanguageShawn Rhodes emphasizes the importance of understanding your prospect’s language to sideline hope-based sales tactics. Many salespeople mistakenly assume that their prospects fully understand the intricacies of their offerings. This misconception often leads to failed communication and lost opportunities.Jay and Shawn highlight key steps to better connect with prospects:Research and Practice: The Cornerstones of Effective CommunicationJay advises starting with comprehensive research to understand who your prospect is and what language they speak. By joining mastermind groups and engaging with successful peers, salespeople can gather insights into effective communication strategies. Jay underscores the importance of practicing these conversations before approaching actual prospects. In his own field, he recommends speaking to out-of-state property owners first to practice scripts and build confidence.Recording and Reviewing CallsRecording calls is another effective strategy endorsed by Jay and Shawn. By using apps that allow you to record conversations, salespeople can later review their calls to identify what went well and what needs improvement. It's crucial to reflect on the recorded interactions and consistently seek feedback from mentors or more experienced professionals to refine the approach.Metrics and Conversion RatesMeasurement is a fundamental aspect of improvement. Jay advises tracking conversions to understand the effectiveness of your communication strategies. By comparing the number of calls made before and after receiving feedback, salespeople can gauge improvements in their conversion rates. This practice allows for a dynamic approach to sales, enabling continual adjustme