Building Other Businesses Around Your Core Business with Daniel Martinez

October 10, 2022

Episode 119: Building Other Businesses Around Your Core Business with Daniel Martinez

The Profit First REI Podcast

October 10, 2022

David Richter

Summary:

From effective synchrony in his businesses and to having an altruistic mission, Daniel Martinez has come a long way in his 4-year career in real estate.

He is a commercial investor, co-owner of a data company, and founder of HiveMind, a CRM tool designed for real estate investors. This portfolio of assets and skills gives him a view of the market from multiple angles, no doubt instrumental to his success.

Daniel also uses his unique position to share the knowledge he gains with so many in the real estate community, just as he does on this episode of Profit First.

Listen in on the discussion!

Key Takeaways:
[00:00] Daniel Martinez and His Background

[04:10] The Entrepreneurship Bug and Starting Real Estate

[07:06] Starting the Hive With Us Podcast

[08:50] On Going Into Data and Software

[11:06] Lessons Learned About Money

[14:59] On His Business “Why”

[17:00] On His Legacy for His Children

[19:07] The Challenges and Opportunities in Real Estate

[22:44] His Advice for the Real Estate Community

Quotes:

[07:46] “The power of content and going into the digital space is that it’s there forever.’”

[09:16] “You build your own infamy off the content that you produce.”

[09:57] “When you do a business, you always want to build other businesses around that business.”

[12:50] “If you throw your profits right back into the business, recycle it, and grow it, it can lead into large numbers.”

[19:49] “If you do enough marketing, you’re going to trip into a deal. You don’t have to be the best negotiator.”

Links:

Facebook: HiveMind CRM – https://www.facebook.com/groups/hivemindcrm/about/

Text HIVE at: +1-210-972-1842

Profit First Real Estate Investors FB Group-https://m.facebook.com/groups/ProfitFirstREI/

Simple CFO-https://simplecfo.com/

Tired of living deal to deal?

If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. – David

Transcript

Daniel Martinez:

The other thing about money is that you reinvest in your business. And I think a lot of the reason why we add a lot of exploration with Hbe Mine is because if you throw your profits right back into the business and recycle it and grow it, it can lead into large numbers. So

Intro:

If you’re a real estate investor who’s sick and tired of living deal to deal, then welcome home. Hear from everyday real estate investors just like you, and discover how they’ve completely transformed their business by taking a Profit First approach. This is the Profit First for REI podcast, where we believe revenue is vanity, Profit is sanity. It’s time to start making profit a habit in your business. So here’s your host, David Richter.

David Richter:

Hey everyone, this is David Richter with the Prophet First REI podcast. Have another special guest with me, Daniel Martinez, which he’s definitely special because along with Josh Culler, I think that him and Josh might be the only two that I’ve had that I went to high school with on this podcast. So we went to the same high school, grew up in the same area. He’s done some awesome things. He’s Daniel’s in real estate investing for commercial investors. He is a developer, has a software company that he co-founded. If you are watching this on YouTube, you see it behind him, Hive Mind, which we will definitely talk about CRM for real estate investors. Also, I think the co-owner has bought the list, guys, you know this. So you’ve got that as well too. Providing a list to entrepreneurs or real estate investors. So we’ll talk about that. But Daniel, great to have you on the podcast today.

Daniel Martinez:

Great to be here, man. I’m excited. I am one of the ones I’ve been looking forward to just because I’ve been coming across people back from the past, which is like 10, 15 years ago. So it’s kind of interesting having conversations and circling back.

David Richter:

Yeah, it is. And the people that we get into, you know, that took the entrepreneurial route or you know, you get to see people starting to flourish Now I feel like, okay, now we’ve, we our, our wings, you know, now we’re out here trying to increase that value and I see you doing that, which is awesome. So I I, I’ve been really excited about this too. Catch up with you and just to see what’s going on, what’s high mind all about, you know, like what did you start here? But before we get into that, let’s have people hear your story. So what have you been doing? How did you get started in real estate? Like where are you now? Give, give people a little bit of background so they know a little bit more about you.

Daniel Martinez:

So since we last met, since we last spoke about 10 years ago, I got into, I used to be a truck driver. I used to be a forklift operator, loaded trucks. I used to, I used to actually work with Josh Culler for two summers. Nice. after, after, after high school. So that was interesting. So then they bring up Josh Culler. I used to load trucks. I ended up working in Chicago cuz we all grew up in the Chicagoland area. So I worked in Chicago load trucks there. And then my wife was like this one Atlanta, or this is my fiance at the time. This moved to Atlanta. I’m like nothing holding me down here in north of Indiana and Chicago. Peace. So I left, I lived in Atlanta for six years and when I moved to Atlanta, I’m like, there is no snow down here. The reason why I never wanted to drive trucks is because the snow, because I always make a joke about it that northwest Indiana, it’s like, it’s cool and all, but like if three, four months outta the year you have an opportunity to die just by commuting to work or the grocery store. I’m good

David Richter:

<Laugh>,

Daniel Martinez:

So that’s good. So there’s when I, when I moved to Atlanta, I’m like, okay, there’s no stout here. I could drive trucks. This, that would be fun, It’d be interesting. So I learned how to drive trucks. I did that for two years. Ended up starting my own trucking company. Got up to five trucks and it was just a lot of daily grind. It was like 24 7, 365 job. Just a lot of headaches and ended up pivoting and out. When I was doing that I was like, I have to do something else. And entrepreneurship, not every business works out and you have to pivot. So whenever you’re in that transition point, you pivot into something else. So I pivot into real estate when I first, within my first year of real estate, I actually got into the data game as well. So I got into real estate and data and then this, I’ve been in real estate for about three years now and it’s been interesting. So now when I started High Mind February of this year, I now have a data software company, I have a data company, a software company, and I do real estate. So it’s just been all in the realm of real estate, no longer trucking.

David Richter:

So since I’ve known you for quite a while, did you always have the entrepreneurial gene and the bug and you wanted to do something like that? Or like what sparked, you know, going down this path for you?

Daniel Martinez:

It was so, I always, I always contributed to my father. My father was the hardest working man. He worked, he actually worked on the roads in Chicago. He worked all the way from Illinois, Illinois border to Joliet to Wisconsin. Like he worked all that area over his 30 years of working on the roads in Chicago. So Pew would drive two, three hours of work. The commute was ridiculous. So for me, I never saw my parents, I never saw my dad. Cause my dad would literally, he’d leave at four in the morning, he’d come back at five a night, eat and go to bed and that was it. So I never had that relationship with my father cuz he was just working cuz he had provided for us to go to school and stuff like that. So he just worked. So for me, when I found out my wife was pregnant, I clicked.

Daniel Martinez:

I’m like, I have to do something. And as soon as, as soon as my wife was pregnant, because every talks about oh, when do you want to, when do you wanna be an entrepreneur? Oh, when everything, when everything is going good. When I have, when I have the stable job and I have everything going good. And like the truth is, there’s no right time to be an entrepreneur. You just gotta do it and kind of deal with all the consequences and decisions that come with that. So when I found out my wife was pregnant, I worked my butt off for a year. I made I pretty much, I made six figures in trucking at that time to jump into my own business. So ever since my daughter was born, I hadn’t worked a job. I literally took two week, my two week vacation, three month maternity leave and quit since my Christmas. She was born and she turns four on Christmas.

David Richter:

Awesome. So then, so there’s four years in this journey cuz that’s awesome. So that’s where it kind of kicked off. And then from there, you know, like why real estate? Did you, was there something that attracted you to that or was there a mentor or a book or it like a course? Who knows?

Daniel Martinez:

It was podcast. So podcasting.

David Richter:

It was awesome.

Daniel Martinez:

It was podcasting because when you’re driving, like trucking is a 24 7 job. Like Oh yeah. Cause you, you can work any, any, you can work up to 14 hours, but you can drive up to 11 and then you’re just driving. So like a lot of truck drivers listen to music, music, music and you just waste time. So when I had the entrepreneur bug hit me, that whole nine, that whole nine months when I found out my wife was pregnant was all education. So I listened to podcasts. So the best way to soak like me right now, I don’t personally listen to podcast because I don’t have that time availability anymore. Yeah. But when you’re trucking, you’re, you’re driving for eight to 10 hours so you got 10 hours of, of really quality time to learn and educate yourself. And that’s where I, that was my transition because a lot of people like I can’t find that time to read a book. I can’t find to listen in the podcast. I can’t find a what listen to YouTube and I was in the perfect position cuz I was just driving. You just listen.

David Richter:

Right. No, that’s awesome. Drive. But now you’re focused on creating content to help others because you have a podcast as well. Correct. What’s the name of the podcast? Cuz you were saying like you’re releasing episode 53. We were talking beforehand.

Daniel Martinez:

So my podcast is actually called the Hive with Us podcast and it’s based off of our, our our brand hive mind. And we’re releasing an episode a day. We’ve been releasing episode a day since about first second week of September. Oh

David Richter:

Wow.

Daniel Martinez:

We launched September 1st and we’re already, we’re releasing episode 53 today. Yeah,

David Richter:

That’s intense.

Daniel Martinez:

Oh yeah, exactly. Well here’s the thing is that we know the power of content and Oh yeah, this is, I’ll say my quote, the power of content and going into the digital space is that your content is literally forever good or bad. It’s there forever. So we are trying to create a digital footprint that lasts forever. So ever since we started high mine, I knew the power of digital content. So we recorded everything. So there’s a podcast still releasing that we recorded six months ago. Yeah,

David Richter:

Yeah. And,

Daniel Martinez:

And we mixed kinda, we mixed it in the old, the new and there’s stuff to, we had, when we launched our podcast, we had 70 episodes prerecorded.

David Richter:

Oh wow, that’s awesome. That, that feels good. And now you’re, you’re creating the content that some truck driver or some person might be listening to on the road and you might be the catalyst for them creating a business and helping other people. Cuz that’s what I love here. That happened that 40 years ago you said, I have to do something and my daughter’s being born, you know, I’ve gotta, you know, I gotta create this life. And then you start listening to those podcasts, you had that time and now, now you’re out there creating the content. And I love that. I love it’s like value is creating value here and you’re being able to give back in a different way and helping other people there. So talk about that. So you not only real estate investing but then like data and the software. Like did you just say, I can see how these things formed together. Like what was the thought process of like, I like real estate but I also like the software and I like the data side of it. Like what was that thought process of getting those things to mesh?

Daniel Martinez:

So I’m gonna, I’m gonna hop into that, but I wanted to say my quote. So this is my quote that off of content is, this is my quote just cuz I’ve seen it and this is why we go so hard with the content is that You build your own infamy of the content you produce

David Richter:

Yeah, that’s good.

Daniel Martinez:

Make, make a card off that,

David Richter:

Right? Yeah, you write

Daniel Martinez:

It down. That’s not because of me. I, I’m, I’m like, I see it happening to myself but I also seen it happen to other people. So that’s why we go so hard with the content and a lot of people are like, I wanna be famous. Well you gotta start creating content cause that’s the only way you’re gonna get there. You have to start, you have to start with the bad stuff and just start creating content. Yeah,

Daniel Martinez:

Before I started <inaudible> I started creating content on Instagram and it’s terrible if you go look last March I had six posts on Instagram and I just now we’re up to like 2000 and it’s just, it’s everyones automatically Yeah. And have to go through the growing pains. But your question is, to answer your question, a lot of it is when you do a business you always wanna work build other businesses around that business because you can essentially somewhat monopolize your own circle. So if you, the data, the real estate is its own thing, but you also do data script tracing. So that’s actually providing lead sources for that as well. And then the software kind of jumps into that. So as one business grows, they all grow together exponentially.

David Richter:

Yeah, no I love that because that is, they, they are very synchronous, you know, like this is the data matches with the, you know, the lead sourcing and you know, getting the, handling the leads and then being able to actually close on the real estate. So I love that and love, you know, the journey that you’ve taken here just in a kind of a short amount of time here, four years just to get through, you know, like I went to college and it’s like, you know what, I’d rather have done this type of education of going through and like, here, let’s build a business, let’s do this stuff and like let’s get this in place. But that’s awesome and I love that journey that you’ve taken. We’ll circle back around, but I like asking on here, since it’s the Profit first REI podcast, just some general questions about money and like how that’s changing. I think for you it might be even relevant today, like before your daughter was born and before jumping into entrepreneurship and before all that, you know, like what were some lessons you learned about money, but then what did, how do you think about that and how does that compare to what you think about money today?

Daniel Martinez:

So I actually have a, I actually have a money, money goal I’m actually hitting this year. I’m really excited about four years by, it should be December, I should hit it December by the end of the month. I usually do my, I keep my calculations but I’ll hit a million dollars in revenue. Awesome. Four years. So I think that that is like a big goal, I mean it’s not necessarily a goal of mine, but it’s always like people that make 50,000 a year, it might, it’s gonna take you 20 years to make a million dollars just in revenue in generation. So I think for me to do it in four, I think, I think it’s a little, I’m, I’m trying trying, I’m trying to, I’m trying to, trying to pick up the momentum but ev it kind of ebbs and flows as you change businesses and pivot. Yeah. And a lot of that goes I, something I learned about money is that having a business versus a job you don’t need to make as much. Hmm. Is so, so crazy. And like when, when I was making a hundred grand a year, you can make equivalent to half of that and still survive just off of business income versus

David Richter:

Job income. W2. Yeah.

Daniel Martinez:

WM two income. So a lot of people think oh I need to make a hundred thousand a year in my business. Well you really don’t. It depends what type of business in your profitability and as long as you can sustain that consistency, you’re perfectly fine just being your own business. A lot of people think oh they need to hit like these high numbers but you really don’t. You really go and like the other thing about money is that reinvest in your business. And I think a lot of the reason why we add a lot of exploration with Hivemind is because if you throw your profits right back into the business and recycle it and grow it, it can lead into large numbers. So I think we’ll hit 50,000 of revenue this month just for the high mind. Wow. And we started, we started in February. So we’re trying to reach, we’re trying to reach a hundred thousand a month by March next year.

David Richter:

Yeah. That’s this and that’s what technology can do cuz try doing that from February to now. Like with real estate, if you’re just jumping into it and just starting out, you know, unless you’ve got that mentor who mentors you Exactly. Here’s the steps you need to take in six months, you know, to get to where you need to be. I think even doing that sometimes it could be very hard, but I love what you’ve done there where took probably a lot of work upfront and now you’re just seeing the payoff and then making it better with the user experience. How can we make this better? How can we, you know, retention, there’s all that stuff in here. So that is awesome. I love the goal that you set for yourself that you, well it sounds like you’re going to hit, which is a huge milestone.

David Richter:

And then also then getting that in place with recurring with Hive mind. That’s so cool too. Because to me that’s not just a number of like, oh we’re making this, that is people that are using the system to manage their business to be able to help get them where they need to be too. Because that’s where I just had, I interviewed someone last week and they were like, Oh we’re canceling our subscription with you because we’ve retired. You know, like you helped us get to where we want to be. And like, you know, he’s like, you know, we’re gonna shut it down for a couple years here and just take some retirement years off. And it was like, that’s exactly why you start this type of thing. It’s like to provide that value, getting it out there. And then if you’re, then when you grow to a hundred thousand in March, that means that’s that many more people you’re helping get outta their rat race and outta their, you know, like outta their trucking, you know, company job or whatever it might be. So I love that. That is great. Great mindsets there. So then you, since you have your daughter now and you have your CH children, what are you wanting to pass on to them? Maybe around money or just like some educational, you know, like what have you gone on this journey where you’re like this is something I want to pass on to make sure they know this.

Daniel Martinez:

So I’m gonna jump back to your last question so, Okay, sounds good. I didn’t know, I knew what my personal, I knew what my personal why was and I you kind of heard that throughout. This was my kids. Yeah. My business. Why I didn’t know what that was until recently And my business why is I had a, one of our users have a six figure month, mind you he did not start with us. He started April May and to have a six figure month in September. I’m like, it kind of opened that on my eyes. I’m like okay, if I have one person to have a six figure month, all I need is clientele to have other business to have six for your months. So now we’re trying to reach more clientele so that way it can up six year months. So we actually had our second user have a six figure month in September. Single mom with three kids, six figure month using our

David Richter:

Awesome. So I’m like that’s

Daniel Martinez:

So cool. Now, now they’re rolling in and our first user has six figure month. He’s probably made over 300 K this year using pipeline. So I’m like this, this is exponential. Like now he’s, we’re gonna have a millionaire with Hivemindprobably next year if he’s averaging that six figure range, give or take every month. So we might have a millionaire with Hde mind and then that’s gonna increase and create more a hundred thousand dollars months next year. So I’m just excited to see that wave.

David Richter:

That is awesome.

Daniel Martinez:

I’m excited to see that wave it, it’s pretty crazy. It’s pretty exciting just to be a part of that. And like I said, that’s my business. Why now is just creating people to have six figure months. Cause that’s, that’s, that’s huge man. That’s huge.

David Richter:

Then in the future it’ll be seven figure months. I mean like come on, we’re, we’re like 30, around 30 years of age. You know, you’re probably late twenties. I’m early thirties here. It’s like, yeah like this is exciting cuz now it’s like your first goal here, having more people with six figure months. But then what about the people then now break those ceilings and now they’re having seven figure months. You know, it’s like just the mind blowing things of you. It’s what we hear in the entrepreneurial world. You help enough people get to where they wanna be and you’ll go on the ride with them. So it’s, it’s awesome seeing that in fruition what you’re doing there. So Very cool. I love that. Why

Daniel Martinez:

Now to answer your other question now that you talked Yeah I could remember I remembered it. Like I said, sometimes really hard to remember the connection. Oh no it’s okay. But legacy I wanted to pass to my children is for me, like I don’t, I don’t think I ever wanna sell hide mine because I feel like it’s in what we did in less than a year. It’s always gonna be paying as long as we consistently provide that value, even it’s not me providing that value, it’s still going to produce income. I mean produce income, produce legacy. And one of the biggest things about Hyde mind is that since it does go inside with real estate, it’s creating real estate transactions to come outta that. Whether we JV or anything like that. So I’m never gonna sell this golden goose just because it’s gonna create more real estate transactions.

David Richter:

So you don’t wanna leave necessarily high mind to them. Is there any other, you know, mindsets that you’ve gotten over this last four years too, You know, that maybe you broke through some barriers of yourself personally of like either with money or with whatever that you’re like, oh yeah this is possible. Like you said, four years, you know, we are able to do a million in revenue. Is there things like that that you wanna pass on as well to your kids?

Daniel Martinez:

For me it’s, I want my kids to, to learn and leverage and be able to do it themselves. Like I, I don’t necessarily wanna hand it to ’em but I want go through the growing pains too because I think that’s, that’s what really changes an entrepreneur because like a lot of, there’s different levels to this. I always say, I always equate this to there’s solopreneur problems, there’s employee problems and then there’s multiple employee problems. You get those and leverage those over time just by experiencing it.

David Richter:

Yep. No that’s really good. I, you know, like I, I’ve got a lot of podcasts that I’m on now and doing this stuff and that’s what I hear people wanna pass it on, but they wanna make sure the kids are making their own mistakes, they’re making the, the decisions for themselves. They’re able to do it and that’s the sign of the entrepreneur who wants them to not just be handed everything and be handed those gifts and be able to be, you know, like we’ve done, like we’ve been able to create something and it’s like, okay, I’m not gonna just hand this over to you. You’ve gotta be able to show that you can create it too. So absolutely love that. So in your real estate investing journey and through what you’ve created with High Mind and through the data and whatnot, what are some of the challenges that you see a lot of the real estate investors facing today? Like is it lack of leads? Is it lack of, you know, consistency? Like what is, what are some of those things? Cause you’ve got kind of the triune business here, real estate data and the software. So it’s like what are you seeing out there in the marketplace right now?

Daniel Martinez:

So me and my partner are really big on this cuz he’s, he’s a big marketing guy and if the difference between a small wholesale company and a small real estate company versus a large real estate company Yeah. Is they have more lead flow. That’s all it is. They’re not the best negotiators, they’re not the best at at at acquiring deals. They just talk to more people. Yeah. That’s the whole thing. So if you do enough marketing, you’re gonna trip over a deal. You don’t have to be the best negotiator.

David Richter:

Okay. <laugh> that’s great cuz that is, I think we lose sight of the main goal of the business in real estate and in most businesses is if you have the lead flow, even if you do suck at the closing, a lot of the times you know you a blind, you know what is that blind squirrel finds an acorn every once in a while, whatever that is. So it’s like you’re making sure that you at least give yourself the opportunity. Doesn’t mean that you should have the worst but that get that is really good. So you’re seeing a lot of that, that the biggest real estate investors are just, they have the most lead flow. And would you say cuz the, you have the list guys which is about pulling lists for people. Correct? Like what are some of the best lists that people use? Can you give secret sauce stuff here or like what? Like what is that? You know, like what do you suggest to people? Cuz I’m sure it, it’s obviously where varies very much by area, state, county, city zip code. But what do you see, you know, as far as data goes, like some of the best investors are doing or what they’re, you know, or what you see behind the scenes.

Daniel Martinez:

So I’m, I’m gonna give away the list game for anybody’s listening, it’s kind of opposite to what I do. But the best list is the tax list. Okay. If you go to the county, pay whatever they charge, pull the tax ling list and hit that list all the time, you never need a buy list from me

David Richter:

Ever. Oh there you go.

Daniel Martinez:

You can work that list forever and make money forever just off the tax lingual list because that always is, there’s always motivation because they’re always due under that, that they’re almost like a foreclosure. Mm-Hmm <affirmative> but it’s through the state. So that list forever will pay the bills even though I sell the list types and if you wanna buy those you can reach out to me, but the text list is the best list.

David Richter:

There you go. And if you are reaching out probably because they want more lead flow, then just that you know and like wanting to scale the business and you know, that’s probably good if you’re just starting out. So, which was incredible there if you just listened to this, this is a data guy so if you’re listening to this right now, listen to what he’s saying. If you’re just starting out, go to pull the tax delinquent list and I’m sure with the content that he’s producing, he’s probably put that out somewhere. Here’s how you pull a tax delinquent list. And if he hasn’t that would be a great piece of content that we’re giving him an idea for right now. So that would be a great one. But there you go. Go pull the tax delinquent list, follow what he’s saying. Daniel is super smart in this area.

David Richter:

I mean he has a whole company there and he just gave you this big bombshell of value of like here’s how you go out, get some actual motivated sellers to sell their house that need you and don’t need a realtor. That’s really what they need. They need you to go out and help them. They don’t need a realtor to list their house. They need you to go out and solve that problem for them. That’s what you’re really doing with that list and helping those, those people on the other end. Very cool. Daniel, this has been awesome. We’re about wrapping up here at a 30 minute mark. So what is some last minute advice that you would give to the real estate investing community with your wide array of a knowledge here with what you do?

Daniel Martinez:

Get, get, get marketing, whether you’re the best negotiator and partner with people collaborating. Collaborating. There’s a lot of, we talked to a lot of new people just cuz just with high mind and a lot of people are like, Oh, I don’t have money for marketing, I don’t even know how to find my first deal. If you’ve network with other investors, they usually have a lot of lead flow and you can just learn from their experience and they’ll even give you the leads.

David Richter:

Yeah, no, that’s really good. We’ve heard that a lot. Leverage other people, see how you can provide value to them and in return if they know that like, hey, I’m here just to learn. That’s really good. I love that type of advice. It’s like, go seek to give value and then you will get value in return. So love that. Go out there, do something, make something happen. You’re going to fail, you’re going to make mistakes, but get out there and get some marketing. Do what you need to do in order to get that first deal done. So then Daniel, lots of value here. Just if you are listening again, listen to that part about what the best list was just a few minutes ago. But besides that, is there any way our listeners can provide value back to you? So tell ’em about Hive mind, Tell ’em about what you’re working on, how you want them to connect with you. If you’re looking for any connections, like just lay it out all for us right now.

Daniel Martinez:

So Hivemind is a business, business automation software. We help businesses automate and accelerate their business to the next level. Like I said, if you heard earlier, we’re trying to help businesses get to six figures a month. We can find us on Highline crm, on Facebook, the Facebook group. We do three weekly calls covering multiple different things. Actually we’re adding a fourth this week. And if you’re interested on that, text 2 1 0 9 7 2 18 42, text word, hive and you get notifications for the exact speedings. Those are free for anybody to join in. And yeah, we’re trying to, we’re trying to, we’re a nationwide company. We had four meetups in four different cities just last week. San Antonio, Texas, LA Houston, and Birmingham. So we’re a nationwide I network with the Hive mind and we’re reaching people all over the us

David Richter:

That is so cool. And can you give that number again, maybe just slow it down a hair just so people can get it. And then what do they text to that number again given that

Daniel Martinez:

The number is 210-972-1842. The keyword is H I V E

David Richter:

H I V E Hive. So text to that number. Make sure to put it in the show notes here. So that’s how you wanna connect. Then you can follow him on Instagram, Facebook, you know, look at what they’re doing. Daniel’s a mover and shaker. I mean he’s putting together the CRM to help you get to where you want to be. Have those six figure months, whatever that means to you personally. And I love what you said there, that you’ve had several people get there already, A single mom, you know, like with three kids and it’s like you’re impacting changing lives if you wanna be a part of that. The content that they’re producing, they’re not, they’re not playing around. I mean 70 episodes and releasing one a day and creating more of it, that’s just incredible. They really care about the content, getting that out there, providing that value so they can endorse them enough so the Hive Mind CRM and then texting Hive to that number. And Dana, thank you so much for being on today, for providing the value here. I really enjoyed having you.

Daniel Martinez:

No problem. Thank you. Appreciate it. Have a great day guys.

Outro:

Episode of the Profit First for REI podcast is over, but there are plenty more where that came from. Are you ready to learn how David and his team can help implement the Profit First system in your business? Schedule a discovery call@simplecfo.com right now. We’ll see you next time on The Profit First for REI podcast with David Richter.

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Title: “Profit First Strategies with Jay Conner: The Power of Private Money”

Episode: 242

There are 15 reasons to love about borrowing private money over traditional money. One of them is making your own rules for your private money.

In this episode of Profit First for REI podcast, Jay Conner, a nationally renowned real estate investor and the king of private money. He talks about how private money works.

Jay helps you get your money from private lenders and will share with you the mindset that will get you money in the door without you ever having to worry about it.

Listen and enjoy the show!

Key Takeaways:

[01:01] Introducing Jay Conner

[05:00] Introduction to private money

[08:30] The Great News Phone Call

[11:23] Why don’t you use your own money?

[13:18] Maintaining relationships with private lenders

[15:40] Private money vs traditional money

[22:05] Things that make them want to recommend you

[25:18] Advice for real estate investors

[29:01] Connect with Jay Conner

Quotes:

[07:34] “If you are talking about private money and raising private money with an individual and you got a deal for them to fund, you already sounded desperate.”

[12:07] “If you want to scale your business, private money is the way to go.”

[16:05] “In this world of private money, we make the rules. We set the interest rate, we sent the length and all of that.”

Connect with Jay:

Website: https://www.jayconner.com/book-details/

Tired of living deal to deal?

If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. – David

Transcript:

Speaker 1 (00:00):

I got 15 reasons I love private money over traditional money. I won’t share all 15, but the biggest one is it puts you in the driver’s seat. The traditional way to borrow money is you go to the bank and get on your hands and knees and you’re begging and chasing. Well, they are making the rules right? Like the lender is making the rules. But in this world of private money, we make the rules, we set the interest rate, we set the length of the note and all that.

Speaker 2 (00:34):

If you’re a real estate investor who’s sick and tired of living deal to deal, then welcome home. Hear from everyday real estate investors just like you, and discover how they’ve completely transformed their business by taking a profit First approach. This is the profit first for REI podcast, where we believe revenue is vanity. Profit is sanity. It’s time to start making profit a habit in your business. So here’s your host, David Richter.

Speaker 3 (01:01):

We have Jay Connor back on the podcast. I love Jay Connor. He helps you get your money, the money from private lenders and that whole framework and process, but he does it from a passion and a place of heart. And servant Teachership. I feel like he goes out there and is a servant teacher of how private money works. Listen to this episode. He gives the magic question he tells about desperation and private lending, and I thought his perspective was so good, and then ultimately the mindset that will get you money in the door without you ever having to worry about it. So listen to this episode. Can’t wait for you to get value from it. Thank you for being a listener of the Profit First. RII podcast. Have a great episode. Hey, here’s the profit first RI podcast. Really excited to have Jay Connor back because he’s the came of private money. And this is where I love to go into this topic because I don’t care what kind of business you’re in, you probably need help with this, but especially if you’re in the real estate world, this comes up all the time at every event I’m at with every conversation I have. So we’re having the cane here talk about private money today. So Jay, thanks for being on the show.

Speaker 1 (02:07):

Hey David, thank you so much for having me come on here to talk about my most favorite topic. Of course, that being private money. And why is that? Because private money’s had a bigger impact on our real estate investing business than any other strategy that we’ve implemented in our business.

Speaker 3 (02:24):

Why did you go down that road though? I mean, you teach this all the time. You’re helping a ton of people, like anyone I’ve ever talked to that works with you is like he taught me how to do and I got money and it actually works. So I mean, how did you even go down that road where it made a difference on you and then you wanted to get it to others?

Speaker 1 (02:43):

Well, I actually backed into it. I didn’t do it on purpose. So here’s what happened. So my wife, Carol, joy and I, we’ve been investing in real estate, single family houses, other real estate full time here in eastern North Carolina since 2003. And here’s what happened. From 2003 until 2009, David, all I knew to do in my real estate investing business was rely on the local banks to fund my deals. I mean, all I knew to do was go to the bank, get on my hands and knees, put my hand underneath my chin, raise my skirt up so they could look at all my personal financial statements and stuff and actually beg to get my deals funded. That’s all I knew to do. And so I had a big wake up call in January of 2009 after being in this business here in Eastern North Carolina. I called up my banker.

(03:38):

I told him about these two deals I had under contract in Newport, these two single family houses. And David, I learned like that over the telephone that my line of credit had been shut down with no notice. My banker, his name was Steve, and the bank was bb and t at the time. I said, Steve, what in the world are you telling me? My line of credit is shut down. I got two deals under contract. You gave me no notice. Why is the bank closing my line of credit? He said, Jay, don’t. There’s a global financial crisis going on right now. I said, no, but now you just gave me a global financial crisis. Financial crisis, yeah, I ain’t got no way to fund my deals. And I got ’em under contract. So I hung up the phone and here’s what happened, David. I sat here and I asked myself a very important question.

(04:27):

And so I’m going to share this question with your audience right now. This question I’m going to share with you will help you solve any problem you’ve got. I don’t care if it’s business, financial, career, health, relationships. I don’t care what your problem is. By the way, David, these people going around and saying, any problem, you got some opportunity I want to throw up. I didn’t have no opportunity. I had a problem of not funding my deal. So here’s the question I asked myself. The question I asked myself was, Jay, who do you know that can help you with your problem? And when I asked myself that question, I immediately thought of my good friend Jeff, who lived in Greensboro, North Carolina at the time, and he was investing in real estate. And so I called him up and I told him what happened. And he said, well, Jay, welcome to the club.

(05:18):

I said, what club? He said, the club of the bank shutting you down and losing amount of credit. They shut me down last week. I said, well, how are you funding your deals, Jeff? He says, well, have you ever heard of private money? And I hadn’t. So Jeff told me about private money. He told me about self-directed IRAs and how people can use their retirement accounts and funds that they currently have and move them over to a self-directed IRA company and then loan that money out to us real estate investors, either tax deferred or tax free depending on the type of account they’ve got. Well, that just opened up my whole world. I’d never heard of that. And so what did I do? How did raise $2,150,000 in less than 90 days after being cut off from the bank? Well, here’s what I did, and here’s the secret sauce I put on my teacher hat.

(06:10):

So I put on my teacher cap, which is my private money teacher cap, and I just started teaching people in my own network what private money is, how they can earn high rates of returns safely and securely. And what’s interesting, Carol, joy and I, we got 47 private lenders right now. Not one of them had ever heard of private money and private lending. Not one of them had ever heard of self-directed IRA companies and what a third party custodian is. That’s important by the way, to establish a relationship with a self-directed IRA company because over half of my private lenders are using their retirement funds. And if I didn’t have that relationship to introduce them to move their retirement funds over, I’d be missing out on over half of my private money. So how did I go about raising all this money when I was cut off from the banks?

(07:02):

I led with a servant’s heart. I led with education. And here’s a really, really important point. I separated the activity. I separated the conversations of telling people what private money is and how they can earn high rates of return safely and securely and having a deal for them to fund. You see, desperation has got a smell to it. And when you talk about is that not true, David? Yeah, very true. So if you’re talking about private money and raising private money with an individual and you got a deal for them to fund, you’re already sounding desperate and you’re not even trying to sound desperate. So we don’t talk about deals and when we’re first exposing somebody to how they can earn high rates of return, we talk about private money. So how do we separate those conversations? Well, when someone has told me that they’ve got, let’s say they’ve got $150,000 they want to invest and get high rates of return conservatively, I’ll say, great, I’ll put your money to work for you just as soon as possible.

(08:11):

I don’t talk about a deal upfront. If they’ve got retirement funds that they want to get higher rates of return on, I’ll introduce ’em to the self-directed IRA company that I recommend. They’ll get their funds moved over. And so here’s what happens and here’s the magic sauce, David, I give ’em and I call ’em up with what I call the great news phone call. What in the world is the great news phone call? Well, the great news phone call is not a pitch. I’ve never pitched a deal in my life ever since I started raising private money in 2009. I pick up my handset with my cord attached to it here in North Carolina and I call some of your, don’t even know what that is. And let’s say, David, let’s say you’re one of my private lenders. So I’ll put my phone right up here and you’ll answer the phone and we’ll have a little chitchat and I’ll say, Dave, I got great news for you.

(09:06):

I can now put your money to work. I got a house in Newport with an after repaired value of $200,000. The funding requires 150. Closing is next Tuesday. You’ll need to have your funds wired to my real estate attorney next Monday. I’m going to have my real estate attorney email you the wiring instructions end of conversation. Notice I didn’t ask If you want to fund the deal, of course you want to fund the deal. You’ve been waiting for the phone call. I’ve told you the program. I’ve taught you the program, you know what kind of rate you get, what the maximum loan to value is, the program that I’ve taught you. And so now you’re waiting for the good news phone call, which I just gave you. And in addition to that, if you as my private lender, if you’ve moved your retirement funds over to a self-directed IRA company, you ain’t earning any money until I put your money to work.

(10:04):

You moved it at my recommendation. Now I’m ethically bound to put your money to work. You ain’t earning any money until you actually put her to work. So again, we separate conversations, we leave with a servant’s heart, we educate, and by the way, David, these people going around saying don’t just get the deal under contract. The money is show up. I want to throw up where is the money going to show up? Is it just going to rain out of clouds or something? No, get the money lined up and you can get it lined up fast. Just like me. There’s always going to be deals.

Speaker 3 (10:38):

Yeah. Oh man, that’s really good stuff. I love how you went down that road and it helped you personally. Now you’re just teaching a lot of people. I love that magic question. Who do you know that can help me with my problem? It’s that who, it’s not always the how. It’s the who did I know, and in that point it really helped you. I also run into a lot of times, I don’t know if you see this, where there’s someone who’s like, I could save a couple interest points if I just use my own money versus a private lender’s funds. What are your thoughts on that of always taking down your own deals versus going out there and putting the work into getting a private lender?

Speaker 1 (11:17):

Sure, I get that question all the time. They say, Jay, you making all that money? Why don’t you use your own money to invest in real estate? Why are you still borrowing private money? Well, here’s the answer. If you’re just going to do one deal, that’s a great use of your money. That’s a fantastic use of your money. But do you want to scale your business? I mean, right now we’ve got seven different projects going on, single family houses simultaneously. Well, I don’t want my money buried in seven houses or projects simultaneously, which here in our local market can easily be over 3 million with the prices of our homes. So if you want to scale and really, I mean most people have got a bottom of the bucket in their checkbook. So if you want to scale your business, then private money is the way to go. Another answer to that question is, do I want to pay myself 8% or do I want to use my money for something else,

Speaker 3 (12:22):

Right? Yep.

Speaker 1 (12:24):

So that’s a couple of answers to why I use private lending and why I’m still using 47 private lenders,

Speaker 3 (12:33):

Which is great. I love what you said. If you want to scale, it can run out of cash real quick. If you just keep using your own money where a lot of people have to choose between, okay, paying some percentage points or sleeping at night, and it’s like, I think I like your option a whole lot better, especially if you’re looking to grow. But I like how you said that one deal. That’s okay, but if you are looking to be a real estate investor, this is something you’re going to have to go down that road. Now, last time I asked you some questions about the private lending process. I don’t think I asked this one though, is how do you maintain a relationship with that many private lenders? You’ve got 47 people in your network that you call up with the good news call. So is it like how do you maintain a relationship with all those people?

Speaker 1 (13:22):

I mail ’em checks.

Speaker 3 (13:25):

I love that. That’s a great answer. Oh man. No better way to keep a relationship there.

Speaker 1 (13:33):

I mean, they love getting money in the mail, right? Yeah. They love mailbox money, so I mail ’em checks.

Speaker 3 (13:41):

So you mail ’em checks. So you’ve built a good enough business where you can keep 47 lenders busy and their money active.

Speaker 1 (13:50):

Well, to be totally transparent, I mean, it is a juggling act to tell you the truth. I mean, there’s more money than there is deals.

Speaker 3 (14:00):

Yep.

Speaker 1 (14:01):

There’s more money than there is deals. And so we got 47 private lenders. Some of them have got $30,000 with us, some of ’em have got a million dollars with us. I can’t buy a house for 30,000, but I can use 30,000 for rehab money. You can use private money, borrow private money in a junior position, you’ve got to disclose that. But I can put private money in a junior lien. But what comes into play there is what we call total loan to value. So I’m not going to be borrowing more than 75% of the after repaired value. I didn’t say the purchase price 75% of the after repaired value. But let’s say back to that example that we just talked about, David, where if I’ve got a after repaired value on a home of 200,000 for easy figuring, I can borrow up to 150,000. That’s 75% of the after repaired value. But if I buy it for a hundred thousand, which I do all the time, 50% of the after repaired value, I can have a private lender in first position at a hundred grand. I could have another private lender in second position at 50 grand. So add a hundred to the 50, now one 50 divided by 200,000 after repaired value, I got a total loan to value of still 75%.

Speaker 3 (15:27):

Yeah, I love that. And it seems like private money gives you flexibility and

Speaker 1 (15:32):

Options. Does that make sense?

Speaker 3 (15:34):

Yeah, that makes sense. A hundred percent.

Speaker 1 (15:37):

Oh, absolutely. Flexibility is where it’s all at. I got 15 reasons. I love private money over traditional money. I won’t share all 15, but the biggest one is it puts you in the driver’s seat. The traditional way to borrow money is you go to the bank and get on your hands and knees and you’re begging and chasing, well, they are making the rules, right? The lender is making the rules. But in this world of private money, we make the rules, we set the interest rate, we set the length of the node and all that.

Speaker 3 (16:14):

I love that. Flexibility is the ultimate play in real estate. You want to have flexibility and you want to be able to have that. So I love what you teach. Who is the person that you’re trying to teach out there? Is it the person that’s done one deal a thousand deals? Who are you trying to help the most with your business?

Speaker 1 (16:33):

Yeah, that’s interesting. At my live events, which is called the private money conference, and my live events, we have about 60% or so have already done deals. They’ve already done deals. They want to scale their business. They are real estate investors wanting to scale their business, and about 40% are looking to get their very first deal. So I’m helping everybody. I mean Stu and Harriet Baldwin from New York State, they enrolled and joined my mastermind membership community and they already had a portfolio of a hundred houses. They’d already raised over $2 million in private money, but they wanted to see how I went about it. Well, just one webinar that I recorded with them brought in 1.2 million in additional private private money. So I’ve worked with real estate investors that are brand new and those that are also seasoned to help them get more private money ready to go for their business.

Speaker 3 (17:33):

I love that. It sounds like a lot of people out there need private money, and even if you’re just getting started, if you don’t have the funds to do that first deal, like you mentioned, you do that first deal, that one deal at a time, it might be okay, but this sounds like a great spot where if you’re getting into it or if you’ve got lots of stuff going on, this could be another way to make sure your company can keep running without what you ran into with the banks back in 2007, eight or oh nine. Would you say that’s true as well?

Speaker 1 (18:04):

Absolutely. Absolutely. I mean, I’ve met very, very few people. In fact, I can’t even think of one. I haven’t met any real estate investor that says, I got enough money.

Speaker 3 (18:20):

Yeah, me either.

Speaker 1 (18:22):

I can’t use any more private money. However, David, you are looking at one right now. I got about almost $2 million right now, what I call sitting on the shelf waiting to be deployed. And I tell you what, I’ve had new private lenders come into my world that want to invest and just to prove to them that I can perform. I’ll take the new private lender’s money and pay off a current private lender, refinance the deal so I can get their money to work for ’em, right?

Speaker 3 (18:53):

Ah, yep, that makes sense. I like that. As you grow and scale, you might run into that issue and you make one lender a little bit happy. I mean, at least they’re getting paid off, but then they probably come back to you and say, I want you to put my money to work again. Do you have that come up a lot?

Speaker 1 (19:12):

Quite frankly, when I pay ’em off, they’re not happy.

Speaker 3 (19:17):

That’s why I said just a little happy, maybe a little bit.

Speaker 1 (19:20):

But when I pay ’em off, they’re not making any money on that money. In fact, with a new private lender, I’ll get ready to pay ’em off cashing out on a deal and I’ll call ’em up and say, Hey, just want you to know that you’re going to have a check coming in the mail from a real estate attorney’s trust account. We’re paying off this house. And they’ll say, Jay, can’t you just keep the money? And I’ll go, no, I can’t keep the money unless I’ve got your money secured by a property because we do not borrow unsecured funds. Now, here’s maybe a little advanced strategy for some folks, but I do substitutions of collateral or loan modifications all the time. If it’s a small amount of money that a private lender’s invested 30, 40, $50,000, and we use it for rehabbing a property. So when I’ve got another property I’m getting ready to start on, I’ll substitute the collateral and keep that 30 or $50,000 note in play. So they keep earning money on that money, but we will substitute the collateral just to a different project that we’re moving to.

Speaker 3 (20:25):

That’s awesome. So then sounds like you have a good problem. It’s like, I want that. Well, I think a lot of real estate investors would rather the problem, I have too much money versus I’ve got these deals and I can’t fund them. So I really like how you teach people that and where it could snowball into this, where it’s like, I’ve got 47 private lenders, I’ve got to go out there and get the deals for ’em. Absolutely. And I really like that. And

Speaker 1 (20:50):

For goodness sakes, you don’t start out with 47 private lenders. I started out with one, right? I started out with one and then that quickly became two and three and four and five because private lenders tell other people what’s going on. So I haven’t actively attracted private money for years because our current private lenders just keep sending us people. In fact, day before yesterday, day before yesterday, I got a phone call from the mother of a good friend of mine, his name’s Craig, lives in Newburg, North Carolina. Craig had told his mother about this investment thing that I got going on and she had never heard of it, which is really funny. I’ve been doing it now private money since 2009. So she calls me up and she says, Hey, my son’s been telling me about this investment thing you got going on. Tell me about it. So word of mouth gets around very, very quickly when you start doing business with private lenders the way I do.

Speaker 3 (21:53):

Yeah, I like that a lot. So in order to get people to talk like that, what are the biggest things that you do for your current private lenders that makes them want to recommend you?

Speaker 1 (22:07):

Well pay ’em on time.

Speaker 3 (22:08):

There you go. That’s a big one. Sounds like that would be a really great place to start.

Speaker 1 (22:12):

Pay ’em on time. But I also have three times a year I put on a party for our private lenders at the Dunes Club. So we have three times a year a VIP reception over at the Dunes Club on the beach, and it’s just an evening of private lenders getting together and we have a good old time and I feed them and give them all the soft shell crabs they want, and I tell ’em to bring their friends with them.

Speaker 3 (22:42):

Yeah, that’s awesome. So number one though, that anyone can do at any stage is pay people on time. So actually pay, would you say, what about communication? I hear that come up sometimes too. How do you do a good job on the communication with your private lenders as well?

Speaker 1 (23:03):

Well, it must be good enough. They never go away,

Speaker 3 (23:06):

Right? Yeah, that’s the big things I hear.

Speaker 1 (23:10):

Here’s one thing I have not delegated as far as communication. I personally, I mean my relationships with my private lenders are very, very important. So I personally pick up the phone, pick up the phone, and call my private lenders when I have got a deal for them to fund. I do not delegate that out. I could

(23:37):

Delegate that out, but I don’t, when I got a deal for them to fund, I’m the person on the phone keeping that relationship When I’m getting ready to pay them off. I don’t have a check just show up in the mail. Of course they got to sign a payoff instruction letter if a different closing agent is closing it for a buyer. But before any of that happens, I personally call ’em up and I tell ’em that we’ve got that property sold. We’re getting ready to pay you off. Or I’ll call ’em up and I’ll say, Hey, we’re getting ready to pay this property off, but I will keep your note open so you can keep earning money. I’m just going to substitute the collateral. We got some documents we’re going to email to you for you to sign and send back the communication. I’m personally involved in putting their money to work and letting them know when we’re cashing out and where they are on the deal.

Speaker 3 (24:31):

That’s awesome. Then since it’s the profit first I podcast here, I love this concept of the private money because you need your cash in your accounts. So to be able to run your business, do those things, and then setting up a separate account just for your private money lenders, so it makes it easier to do what Jay just told you to pay them back, to pay them back on time to be in good communication with them. So now this has been really good. Do you have any other advice before I ask you? How could they work with you? How can they get in touch with, because I know this is something that is needed desperately, that I send people your way all the time. I know I trust you to help people, but any other last minute advice here that you would give to the real estate investors listening to the podcast?

Speaker 1 (25:18):

Sure. I appreciate you asking that question. It’s going to be very hard to own a lot of real estate

(25:26):

Until you own the real estate between your ears. So what do I mean by that? People ask me, how do I start? How do I start raising money? I can tell you how you start raising private money. You get your heart right, you get your mindset right. So what do I mean by that? Well, what do you do? You lead with a servant’s heart, you lead with education, you put your private lender money hat on, you private lender, teacher hat on, and you leave with education, don’t pitch deals, and you really, really are concerned about the other person and realize, part of this mindset is realize you’ve got an opportunity to change people’s lives, right?

Speaker 3 (26:11):

That’s so good.

Speaker 1 (26:13):

We’ve got countless people that are particularly in their retirement years, that have thanked me and Carol Joy for making a difference in their retirement years to where they can, I mean, they don’t want to touch their principal. They want to live off of their principal investment. So they’ve been able to travel, go see grandkids, do all this stuff that they couldn’t do otherwise until they got involved in our program. So just know that you’ve got a way to really make an impact on other people’s lives. And lemme tell you another part of mindset. It ain’t about reaping. It’s not about reaping. It’s all about sowing. It’s all about sowing. I can’t be reaping all that private money and deals until I have sown and given and led with value first. So how you sow is how you’re going to reap.

Speaker 3 (27:08):

Yeah. Oh man, this is so good. I’m glad I asked that question because I hear the passion in your voice and I hear that you really care about the people you work with, the people that have private money lenders out there, you care about that relationship. I love what you said. Get your heart right, get your head right. I also think, like you said too, that if they don’t have that desperation has a smell. So if you’re out there, you’re desperate and you’re just going out there, then you won’t have people like you have that want to keep coming back, that want to continuously invest in you. So that was, I think, the best advice that you could give right there. Get it between your ears and get your heart right. I absolutely love that. And just to recap too, I love your magic question.

(27:55):

Who do you know that can help me with my problem? Then one day you’re going to wake up and you’re going to be like Jay, and you’re going to be helping other people with their problem. I’ve got money. I want to put it somewhere, and you’re the able to get them to where they can be. Desperation has a smell. I love that. And then honestly, I love that pivot. You are like, it’s not about the reaping, it’s not about the interest that I’m making or the profit I’m making for the deal. It’s more about sowing those seeds and ultimately you’re changing lives. That’s why you get private money, and it’s like that interest that you’re paying them is twofold. It’s like you get to sleep at night, you’re not using all your money and you’re getting to help someone else get a return that they wouldn’t be able to get anywhere else or in someone that they trust as well too, and that’s a little bit more tangible than the stock markets or all this other Bitcoin, some of that stuff that’s floating around out there. So this has been awesome. So how do people then, Jay, take that next step with you? Do you have a book? You talked about an event. What can people do?

Speaker 1 (29:01):

Absolutely. Well for your audience, David, I’ve got two gifts. First of all, I finished writing my book Where to Get the Money. Now, this is not a ebook. This is a book book that we actually send in the mail Autographic where to get the money. Now the subtitle is How and Where to Get Money for Your Real Estate Deals Without Relying on Hard Money Lenders or Traditional Lenders. It’ll walk you through step by step how to get all the private money you would want. Very, very easy to read. It’s $20 on Amazon, but you can get it for free. Being David’s audience, just cover shipping. You can go to www dot j Connor, J-A-Y-C-O-N-N-E r.com/book. So I’m an er, not an or. So that’s j Connor, J-A-Y-C-O-N-N-E r.com/book, and we’ll three day priority mail it out to you. Now, in addition to that, I’ve got an upcoming $3,000 per ticket live event right around the corner. But for your audience, Dave, I’m going to let everybody come for free with a measly $97 registration fee. This private money event. You can check it out at www.theprivatemoneyconference.com. The private money conference.com. That’s coming up right around the corner in June. Get on over there. Registrations are open, and I’d love to meet you in person at the private money conference.com.

Speaker 3 (30:31):

Awesome. I’m excited about that too. I love what you’re doing and you’re solving a big need that we hear all the time. Just like all people always needing to sharpen their acts when it comes to private money, you graciously have also invited me there to speak about Profit First. So I’m excited to get to tell people about that so they can get more private money and be more confident and not be desperate when they go and ask for people. So I’m really excited about that as well. So make sure we’re going to put those links there, but make sure either get his book or go to that event. I cannot endorse Jay Moore because I know how many people he helps, but then he also has the heart. You heard it right here. That’s how he wants to help you too. It’s very much a heart and a mission and a passion for him.

(31:13):

So Jay, thank you for coming on, for sharing your wisdom, your knowledge today. If you are listening to this episode and you feel stuck like, what the heck is going on? Where is my money? I don’t know what to do. I’m a little bit nervous to go out there and get private money. I can’t keep my own house in order. That’s where you could go to simple cfo.com where we can help you walk you through that process. We’ll link you up to Jay too. If you need private money or need to learn about private money, this is who we recommend. I recommend Jay to many people, so make sure that if you need that help you go to simple cfo.com. But Jay, again, thank you for being on the show and sharing your wisdom here today.

Speaker 1 (31:51):

David, thank you so much for having me. God bless you.

Speaker 2 (31:54):

This episode of the Profit First for REI podcast is over, but there are plenty more where that came from. Are you ready to learn how David and his team can help implement the Profit First system in your business? Schedule a discovery call@simplecfo.com right now. We’ll see you next time on The Profit First for REI podcast with David Richter.

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