Thursday Mar 21, 2024

E37: How to Buy Real Estate without Using Your Money or Loans

Are your retirement funds stuck in the volatile stock market? 

Don't miss this exclusive opportunity to learn how private real estate investor Jay Conner has helped dozens of people grow their wealth through private lending on over 500 successful deals. Transitioning to real estate investing after leaving the manufactured housing industry, Jay now focuses on funding deals through private lending, bringing in capital from private lenders.

Discover how you can take advantage of safe, steady returns through real property – without being a landlord. Jay walks us through the process of evaluating properties, making offers, renovating, and paying back lenders with profits.  

Here are some power takeaways from today’s conversation:


01:30 - Jay’s background

07:06 - Lessons learned from early mistakes

11:28 - The power of a like-minded community

17:44 - Your target audience for a private lending event

21:02 - Automating the private lending event process

28:33 - How private lending works for real estate deals 

39:31 - Loan-to-value limits for private lending deals

46:57 - Leveraging technology and scaling your business

55:46 - The victor vs. victim mindset


Episode Highlights:

[07:06] The Value of Education: Avoiding Costly Lessons in Real Estate

Jay stresses the importance of education when getting started in real estate investing. Despite his background, Jay lacked training specific to real estate mechanics and funding strategies. This resulted in expensive mistakes early on that could have been avoided. Arming yourself with knowledge from experienced investors up front can help you sidestep costly lessons. Formalizing your education pays dividends and sets the stage for success in your real estate endeavors.

[16:15] Piquing Interest Without "Selling"

Jay shares an effective strategy for inviting people to private lending events. Rather than directly asking for money, he frames it as needing their help and support. This subtle difference activates people's desire to be helpful. Combined with buying lunch and portraying the opportunity as high returns for others, it piques interest without pressure. Jay also casts a wide net by inviting people even if they can't invest presently, allowing for future opportunities.

[18:30] Targeting the Right Audience for Your Private Lending Event

Jay recommends the following key target people to invite to a private lending event:

  • Retired individuals: They likely have retirement funds seeking better returns than traditional volatile options.
  • Centers of influence in the community: People like mayors, Rotary Club members, etc. who are well-connected.
  • Entrepreneurs/business owners: They understand business concepts like this private lending program.

The goal is to generate a list of 40 people across these categories who may be open to learning about the opportunity, even if they can't invest immediately. Casting a wide net allows capturing future opportunities as people's situations change over time.

[28:33] Private Lending for Real Estate Deals: How It Works

The investor provides capital for the purchase and renovation. They receive a promissory note and recorded mortgage/deed of trust as collateral. The investor is also named as the mortgagee on insurance and title policies for added protection. When the property is sold, the investor gets their principal back plus any unpaid accrued interest, and the process repeats with new deals.

Resources Mentioned: 

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