Banks Cut Him Off. Private Money Made Him Unstoppable with Jay Conner
Show notes
How to raise private money for real estate deals
Capital is the first wall most real estate investors hit, and in this episode of The Real Estate Investing Club podcast I sit down with Jay Conner, known as the Private Money Authority, to break down exactly how to raise private money for real estate. Jay has funded single family flips since 2009 without ever missing a deal for lack of funding, and he explains why private money is nothing like hard money. If you want to fund more deals, scale your real estate investing business and stop depending on banks, this conversation gives you a practical roadmap.
What happens when your bank closes your line of credit
Jay and his wife Carol Joy started investing in single family houses in eastern North Carolina in 2003 and relied on a local bank line of credit for six years. Then, in January 2009, he learned by phone that the line had been closed with no warning while he had two houses under contract. Jay shares how he asked himself a better question, found private money and a self-directed IRA strategy, and rebuilt his funding from scratch. This story is a masterclass in resilience for any flipper or landlord.
Where to find private lenders for your real estate deals
Jay explains the three categories of private lenders, which are your current network, your expanded network and existing private lenders. He breaks the warm market into your social network, your professional network and your service network, and he shares why your CPA, attorney and realtor can become referral sources for private money. We also talk about growing your network through BNI and why most investors already have a huge amount of lazy money sitting in their cell phone contacts.
Private money loan terms, interest rates and lender protection
We get into the details investors always ask about. Jay pays 8 percent with no points and no origination fees, secures every loan with an asset backed promissory note, and offers a 90 day call option on investment capital so lenders can access their money in an emergency. He covers note lengths for investment capital versus retirement funds, interest only payments versus accrued interest, and how your exit strategy, whether a flip or a lease purchase, shapes the structure.
Lead generation, deal lessons and AI in real estate
In the quick question round, Jay recommends The Success Principles by Jack Canfield, shares why he only invests within thirty minutes of his office, and explains why pay per lead marketing beats interruption marketing for finding motivated sellers. He also tells the story of a beach condo flip that taught him to always run the numbers on a backup exit strategy, and I share my own self storage lesson about not being greedy. Finally, Jay reveals how his AI agent answers calls around the clock and sets seller appointments at a 75 percent success rate.
Who should watch this episode
This episode is built for new and experienced investors who want creative financing for real estate, house flippers who need reliable capital, and anyone searching for how to get money for real estate deals without relying on traditional or hard money lenders. Watch to the end for the best advice Jay would give his younger self about mentors and education.
Want to learn more about our guest? Connect here: assistant.connermentor@gmail.com
