Creating Win-Win Scenarios in Real Estate with Jay Conner and Chaz Wolfe

Raising Private Money with Jay Conner

*** Guest Appearance

Credits to:

https://www.youtube.com/@gatheringthekings

"Private Money Tips in 2024: Secret Framework"

https://www.youtube.com/watch?v=CLUARp0bf6Q

In a recent episode of the Raising Private Money podcast, Chaz Wolfe and Jay Conner delve into the world of private lending, offering invaluable advice for real estate entrepreneurs on how to navigate financing without traditional banks. This conversation highlights essential principles, from developing the right mindset to leveraging networks such as Business Networking International (BNI), which can transform the way you approach your real estate ventures. Here’s a comprehensive look at the key insights from this enlightening episode.

The Formula for Success: E + R = O

Jay Conner introduces a powerful concept that challenges conventional thinking: E + R = O (event + response = outcome). This principle dictates that while events in our lives are often outside our control, our responses to those events are key to shaping our outcomes.

Jay recounts a personal story where his funding line was abruptly cut off by the bank during the 2009 financial crisis. Instead of succumbing to despair, he chose to seek alternative funding solutions. This proactive response led him to discover private money and self-directed IRAs, which played a pivotal role in his continued success in real estate.

Mastering the Mindset of Abundance and Service

One of the major takeaways from the episode is the importance of adopting an abundance mindset and focusing on service. Chaz Wolfe applauds Jay Conner's emphasis on these aspects, noting how they can transform the approach to private lending and real estate.

Jay underscores that having an abundance mindset—believing there’s plenty of money for good deals—can significantly impact how one interacts with potential lenders. He stresses serving others, reassuring lenders about the safety and high returns on their investments.

Unpacking the Three Tips for Private Money Success

Jay Conner outlines three fundamental tips for utilizing private money effectively:

1. Serve and Secure the Right Mindset:

Approach private money with a mindset of service, not desperation. Educate lenders about the benefits and security of their investment without pitching specific deals upfront.

2. Establish Control and Make Your Own Rules:

Unlike traditional mortgage applications with stringent requirements, private lending allows you to set the terms and create win-win scenarios.

3. Recognize the Benefits of Private Money:

Understand that private money offers limitless availability, no credit checks, quick closings, and fewer fees compared to hard money options.

Leveraging Networks for Private Lending

Networking is a crucial element in private lending. Jay Conner highlights the role of Business Networking International (BNI) and self-directed IRA companies in expanding one's network of potential lenders. By engaging in these networks, real estate entrepreneurs can present their investment opportunities to individuals already familiar with and confident in the program.

Chaz Wolfe reinforces this idea, noting how BNI's structured framework facilitates meaningful connections which can lead to securing private funds.

The Art of Making a Good Offer

Jay Conner also discusses the importance of making a compelling offer to mitigate risks and close deals quickly. He introduces a formula for determining the maximum allowable offer, which ensures offers are both attractive to sellers and secure for investors.

He emphasizes the urgency in real estate deals, suggesting that “time kills deals.” Therefore, presenting a strong