Wheelchairs and Real Estate: How Augie Byot Lives His Legacy through Chair the Love

August 1, 2023

Title: “Wheelchairs and Real Estate: How Augie Byot Lives His Legacy through Chair the Love”

Episode: 191

“What I love about teaching real estate is seeing the transformation in individuals, families, and futures…” – Augie.

In this episode of the Profit First for REI podcast, we have Augie Byllott, a nationally recognized author, trainer, coach, and speaker who teaches creative real estate investing.

He was an investor since the 80s and helped a lot of people by making an impact on them. Augie owns an education and training company, and he supports a foundation.

Know more about him and how he gets his life to the fullest by living your legacy!

Enjoy the show!

Key Takeaways:

[01:00] Introducing Augie Byllott

[04:40] “Living Your Legacy”

[06:12] Becoming a Transaction Engineer

[07:18] Becoming a Marketing Master

[08:18] Being a Chief Entrepreneurial Officer

[15:20] What he loves about teaching real estate investing

[25:03] Learning exit strategies in life

Quotes:

[03:16] “You help entrepreneurs learn how to stop trading hours for dollars… Be careful not to become wage slaves.”

[06:43] “I had to learn how to engineer transactions so that I could always use my money the way I could use it best.”

[12:30] “Living one’s legacy gives you the greatest fulfillment because you are living your true purpose.”

Connect with Augie:

Website: https://www.chairthelove.org/fundraiser/

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:

That’s what I loved about being able to teach real estate for so many years because I had a, a very successful coaching program, which I gave up. I was able to walk away. But what I loved about doing that was seeing the transformation in individuals, in families, in futures.

Speaker 2:

Yeah.

Speaker 1:

And when we give someone a wheelchair, the impact is immediate.

Speaker 3:

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 r e I 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 4:

This

Speaker 2:

Is a very, very special video to me because I have someone here that I respect greatly. We have Augie byot here and one of the reasons I even started Simple C F O was to give more. And if you’re coming here and you’re watching this video, you probably have that heart and you want to do more in your life with your family. You want to give, you don’t wanna just wake up and be in the rat race like you were in a W two job or if you’re a W two job becoming an entrepreneur. I don’t want you to feel the rat race once you get here, but a lot of people do. A lot of people don’t talk about that they work, work, work. And then hopefully one day in the future it’ll all be worth it. But I wanna talk about something here today.

And I have my friend Oggie here because of a couple different reasons. We’re gonna talk a little bit about his background in real estate and how he get, gets to live his life now. But we’re also, the title of this is called Living Your Legacy. And I want to make sure that Augie gets to speak on that because he has a foundation now. He’s been a real estate investor since the eighties. He’s done a lot of different things and helped a lot of people and made a big impact. And that’s what we want to do. Simple. C F O is a monthly donor torch chair, the love. So I want to be able to showcase some of the things that we’re giving to as well and some of the people that we get to support. So that way if you want to support them, you get to know them as well too. So that’s where I wanted to be right now in this mindset and in this space. And Augie, thank you so much for agreeing to do this video with me today.

Speaker 1:

Well David, I’m thrilled to be here. You know, I wasn’t always a real estate investor. I was, I actually had a nine to five job at one point in my life and I was a banker for 22 years. Oh

Speaker 2:

Wow.

Speaker 1:

And oh, what a lot of people don’t know is real estate is what set me free. Awesome. I became an accidental investor back in the mid 1980s and I bought my first house. It was up on Long Island and we converted it from a single family. We finished the basement and now I had a one bedroom apartment. I had a duplex and I cut my mortgage payment in half.

Speaker 2:

Nice. So

Speaker 1:

That was kind of the, the beginning. But real estate actually allowed me doing it part-time while I was working in the banking industry. Yeah. Be able to retire at age 50. Oh wow. And I was to replace my income from that corporate job and free myself of trading hours for dollars. And you know, as entrepreneurs, one of the things I love that you do in, in service to the entrepreneur community is you help entrepreneurs learn how to stop trading hours for dollars. Not just in a job working for somebody else, but even in their own job. Right. You have to be careful not to become wage slaves. So I applaud everything that you do ’cause it makes such a big difference.

Speaker 2:

I appreciate that. I appreciate that greatly. ’cause There’s so many people out there that don’t talk about, and they don’t talk about it. They’re hurting their living deal to deal or paycheck to paycheck, month to month as an entrepreneur. And they’re totally trading the time for money. And it’s like, oh man, like we gotta get you to a good place that you started this business for a different reason. Even if you’re listening to this now and watching this video, and you don’t, let’s just say you never thought about charitable giving or any of that. One big reason might be because you’re in survival mode, <laugh>. ’cause You’re literally thinking about that next deal. And that’s where if you follow the rest of our stuff, if you go to simple c f o, like the main page or whatever, that’s where we help people just try and get out of that, that survival mode with money.

And honestly, to get to where Augie’s been for years now and being able to be a, to be not only retire, but what they want to do and what, what Augie what you want to do is you are making a big impact with the, with the chair the love. And I want to talk about that. But I also want talk about, let’s talk about what you have talked like in different presentations. The living Your legacy. I absolutely love that phrase, but what does that mean to you? What is that about? Like let’s dive into that.

Speaker 1:

Well, a a as I developed my real estate business Yeah. You know, I was able to retire at 50 and I thought I was gonna actually retire. And I failed miserably because I moved from New York to Florida. I met the guy across the street. He told me about his buddy that was going into have a, a divorce with his wife and they were gonna abandon their property. Hmm. I said, wait, before they do that and ruin their credit, let me talk to them. And I ended up buying their house subject to, and I had bought another property 13 days after I came to Florida because I didn’t have wholesalers up in New York, you know, 20 some odd years ago. And I started doing deals. So my retirement was very short-lived. And over the years I accumulated, you know, quite a few transactions. And I started to look at what were the similarities in those transactions and how was my business beginning to grow because I volunteered with my local r taught some classes and before I knew it, people were looking for at me to become their coach.

And I said, wait a minute. I I don’t have time to do that. I was buying, fixing and selling houses. I was creating a rental portfolio. I started doing private lending. So now I’ve got these multiple streams of income being created. And what I realized was there were four components that could create a successful real estate entrepreneur level one. Well the, the first phase was becoming what I called a transaction engineer. And that was having the ability to do real estate transactions a lot of different ways. Now, you know, as, as we were talking just before we got started, I stopped counting transactions at about 600. And that’s over the last say 20 years or so. And the thing that was unique, if anything, was that I had two bank loans. Hmm. Was it, everything else was structured with creative financing of one form or another.

So I had to learn how to engineer transactions so that I could always use my money the way I could use it best. I want to be a good steward no matter what I’m doing. And that allowed me to build a rental portfolio. Those deals I did with cash, I would typically fix and flip. So if I had terms where I didn’t have anything affecting my debt to income ratio and my credit, that was good. So I did lots of both kinds of transactions and so I kind of became a master at level one. But now what’s level two? Well, I had to become a marketing master. I had to be able to generate leads. And it was funny because I had gone to a seminar and this guy said, oh, just get out there and do it market, market market, market market. And I kind of put the hor a horse before the cart because I did all this marketing, spent all this money and I had no clue what to say.

Hmm. I wouldn’t answer my phone. Right. You know, ’cause I was a really successful guy in the banking industry, but now I’m in this new thing full-time and going, what, what, what, what do I say? What do I do? So that’s why I’m becoming a transaction engineer is the first and most important thing. You develop your communication skills, your transaction structuring, and you learn how money works. But now, now you’re prepared. You need to become a marketing master to generate those leads and convert them. And then the next level I realized I was not really a business owner at that point. I was a wage slave. I was still trading hours for dollars. Yeah. Now I had to set up my business and build my business team so that, you know, I’ve, I I told you I have a C P A I’ve been working with for over 20 years.

I didn’t have something available at that time such as a fractional C E o, which is a brilliant concept because that would’ve helped me immensely. But thankfully I got hooked up with a great C P A, he’s been my C P A now for 20 years. And he saved me, I would say millions of dollars over the last 20 years in tax liability. And I’ve never cheated on my taxes. He’s really ethical, keeps me on the up and up and I really appreciate ’em. So now as a business owner, I could start planning how I would operate my business and how much time I would give to the business. See, before it was all of my time was owned by the business. But now as a business owner, things changed. So we went transaction engineer, we went marketing master business owner. But as I mentioned earlier, I started driving all these different revenue streams and sometimes they need to be taxed differently.

So I had different businesses now that I’m operating. And so you kind of eventually graduate into what I call the C e O position Chief Entrepreneurial Officer. Yeah. So you, you, you’ve got different businesses that are all feeding the kitty. And I thought that’s as far as it would go. I always started making really good money and I got to do whatever I wanted whenever I wanted. And I don’t know if I read it, if I heard it or where it came from, but I realized it wasn’t enough. There was still this e empty thing in, in my world. And what it was, I started reading about legacy. You know, we put together a living trust and you know, what’s gonna happen with the next generation and how much money’s gonna be left for charity and those kinds of things. And I realized that it was more than just how much you can accumulate, but what can you do with what you’ve accumulated.

Right. We tried to be generous. We gave to our church and we supported chair the love I got introduced. She had the love through a buddy of mine. And over a probably a 10 year period, we went from donating two wheelchairs to two containers and you know, and I never would’ve thought that was gonna happen. Right. And then I went on a trip and that’s the thing that got me hooked. I went on a wheelchair distribution and I realized that I had yet another calling. And it was to not leave a legacy, but to live it. Hmm. And living our legacy simply means that we have put all the things in place necessary to fund our life’s activities. You know, using assets Yeah. To create income as opposed to trading hours to produce income. And in doing so, I’ve gotten to travel the world. This year we will deliver over 3000 wheelchairs.

And just since, just since January we’ve been to Nicaragua, we’ve been to Trinidad, Tobago, Kenya, which is the first time we’ve been to Africa, the Philippines, and Mexico. Wow. And now we’re at the midpoint of the year. And plus, you know, add on to that, a couple trips to New York to visit our new grandson and a a a few real estate events. I got to go on a real estate cruise where we got to talk about share the love and we raised money and I got to go to Dealmaker, you know, Jim Domingo’s event up in Virginia. And again, we got to raise some money. And so my time is being effectively invested in service to others. Yeah. And yet I get the greatest sense of joy and fulfillment out of it. Yeah. So I really feel like I get the better end of the bargain.

And yet living one’s legacy gives you the greatest fulfillment because you’re actually living your true purpose. Hmm. Okay. I mean, you know, I’m a parent, I’m a grandparent. Those are purposes too. But if all I did was that a lot of people would go unserved. Right. What is our capacity to give, not just of our money, but of our time and our talent, you know? Oh man, this is so good. And that’s the thing that makes such a difference. I met this girl and she helped us with our distribution in Kenya and we became friends via WhatsApp. I have friends now all over the world. Yeah. And she asked me, she said, I wanna become a pastor and there’s a school in Michigan and I’ve raised about half of what I need to go. Do you know anything, any way I could raise more. So I talked to a couple of people and we’ve helped her to raise some of the more that she needs.

Yeah. We’ve got a young guy who just received a wheelchair. And the coolest thing is in the process of happening, he’s 41 years old. He’s got, he, he’s a huge guy. I mean, size wise, his upper body, I mean, he would look like a, like a linebacker. Okay. And yet he’s got these scrawny little legs with club feet that they’re just twisted around. Yeah. At 41 years old lives with his mom. ’cause Until he got his wheelchair at age 41, he literally crawled on his knuckles. Wow. And you can see he’s got these huge calluses and you know, it, it, it’s hard to describe. And so he and I became buddies and he posted on social media one day he, that he was feeling depressed ’cause he still doesn’t feel like he has a purpose. I said, well, what do you wanna do? What if, if you had your choice, what would you like to, I’d like to open a little store.

I said, did you ever run a store? No. But I was able to contact one of our partners from the Rotary Club in one of the cities. We distributed wheelchairs and they’re gonna work with him to see if they can actually put him to work because he doesn’t feel useful yet. You know, he couldn’t be useful when he had a crawl. But now that he’s got a chair, he’s got mobility. And so these additional things that are starting to happen are not just changing somebody’s ability to move, but actually changing the trajectory of their life. Yeah. Man, this is so good. And, and that, that’s what I loved about being able to teach real estate for so many years because I had a a, a very successful coaching program, which I gave up. I was able to walk away and, but what I loved about doing that was seeing the transformation in individuals, in families, in futures. Yeah. And when we give someone a wheelchair, the impact is immediate.

You know, and, and you know, I’ve got lots and lots of stories I could tell, but I’ll just share a couple if I, if you don’t mind. Yeah. we met a guy in Mexico a few years ago and we had given his daughter a wheelchair and he cried. And there’s always a lot of tears when you’re giving away wheelchairs because it’s tears of joy typically. And he said, you have done something that I have not been able to do. My daughter has not had a wheelchair since she was nine years old. And we just celebrated ha quinceanera her 15th birthday. That’s a very big thing in, in the, the Hispanic communities. And he said, I have worked multiple jobs. There was just no way I could ever save enough money to buy my daughter a wheelchair. And you brought it to her. You have given her mobility, you have restored her freedom.

And, you know, it just, it just struck me, this, this man’s, you know, passion for his child and his gratitude that we were, and a wheelchair costs $200. Yeah. You know, I mean, when’s the last time you, you went out to a nice dinner and didn’t spend close to $200? Right. Especially if you have a bottle of wine. Okay. Yeah. And, and I don’t deny people the right to go out to dinner because we should, we should enjoy life. We were not put here to be miserable, but how can we increase our joy by helping others? Right. And that’s what these wheelchairs do. I met this other guy, you know, and I learn every time we give wheelchairs away, I get schooled again. This happened to be in Mexico. It was the first time we were doing a nighttime distribution at a clinic and it hadn’t quite opened yet.

So we were doing it outdoors. And it was at the top of a hill. And I had just given this little boy a wheelchair, you know, congratulating his parents and you know, wishing them well. And I turn around and crawling up the driveway on his stomach, pulling himself by his elbows is this young guy. And I, I just kind of lost control for a minute. And I yelled, get a wheelchair, get him a wheelchair quick. And we brought a wheelchair down to him and we get him in the chair, we bring him up under the lights and my buddy says to him, so how do you like your new wheelchair? And he looks and square in the eye and he goes, s this is not my wheelchair. No, it is, it really is your wheelchair. No sanor. This is not my wheelchair. Believe me, it’s your wheelchair. It’s yours to keep, there’s no cost to it. It’s yours. He goes, s this is not my wheelchair, this is my Cadillac.

Speaker 2:

Nice <laugh>.

Speaker 1:

And it just blew my mind. He was so excited he could go work. Yeah. He’d been in a motorcycle accident six years prior.

Speaker 2:

Oh wow.

Speaker 1:

He was the youngest in the family and he was like 26 years old when I met him. And he was the last one living at home with his father. Yeah. And his father was an elderly little guy that could not carry his son.

Speaker 2:

Okay.

Speaker 1:

Wow. And so we gave him a Cadillac. Yeah. And it, it, it’s amazing. You know, people’s, they, they’re thrilled. You know, what’s the most important thing about this wheelchair for you? I can go to church, I can go back to school. I can do this, I can do that. This one woman was overjoyed because of the two great benefits a wheelchair would provide. It’s gonna make it easy for me to go to church and easy for me to do housework.

Speaker 2:

Hmm. Wow. <Laugh>.

Speaker 1:

You never know what answer you’re gonna get. Yeah. This is,

Speaker 2:

This is so great. I, I wanted to just jump in here because I feel like what you’re saying, you are living your legacy instead of leaving the legacy. I love when you said that when we were meeting a few weeks ago when we were planning this video, but you said it’s living your legacy. You’re living that now you get, you have these stores because you’re out there. It seeing it, it’s not something that you just gave money to and then pass it on, you know, down the future. It’s more like you get to see these stories, you get to live them, you get to see them Well the eyes light up, you get to see those types of things. And that’s what being a part of chair of the love, like if you give to chair the love, you’re a part of that. Like you’re a part of these stories and you get to help these people be mobile.

That’s why I love this. Like honestly this is good for me to hear because we give to chair the love and it’s like I get to be a part of these stories and what the distribution of the wheelchairs and that. So it’s like, that’s why I believe I was put on this earth. It was not to just make a bunch of money and then go out there and just spend it all on the thing. You know, like the toys and the gadgets. It was like, I wanna take care of my family and I want to leave a legacy. But I love what you say, I want to live this legacy too and I want to give to these things and I want to give up my time. And this has just been incredible. And that’s why I’m so avid about, you know, like you have to make sure you’re not in that survival mode and just because if you can’t, if you are, you can’t think about this stuff.

It’s like you’re just consumed with always living to that next deal. But gie this has been awesome. Honest. Can I, I wanna say one other thing. I think you gave us a masterclass. You gave us a masterclass, not in just real estate investing but in business ownership with those four levels. With the fifth bonus one, which I feel like the fifth one can be like, you could do this at any time. So you said transaction engineer. So any business that you’re in, you gotta learn how to do the thing. Number two, a marketing master. Once you can fulfill the thing and you know you’re good at that, it’s like how do we get more leads in the door then business owner? Because then you’re building a team that’s helping you and do more and be able to do the things that you’re already doing. Then c e o, I love that the chief entrepreneurial officer, like now you’re more over the business and you’ve got the things clicking and you’re able to be that more of like in that leadership seat.

Mm-Hmm. <affirmative> over the whole business. Now you’re, you know, you’ve got a good team that’s also creating other team members than living your legacy. Which can be, which if you realize what Augie’s saying, like if you’re watching this video or listening to this right now, living your legacy can be done at any point in here. Did you hear that he was already giving to his church and stuff? Like he had a giver heart, he had a giving heart. You don’t think that just because you’re giving $10 a week or a hundred dollars a month or something like that starts somewhere. That’s what we always say with like profit first and with the management part it’s like, just start somewhere. Start with where you can. Same thing if you have a heart forgiving, don’t think that it’s this one day in the future I’ll give, once I make money, it’s what can we do today?

Is it $5 this month? Because that’s all you have because you are in survival mode and maybe $5 won’t make or break. Yeah. So it’s just thinking about that too. But this has been, this has been awesome. I love the stories. I love hearing exactly how you’re impacting people and then what it’s had on your life too. I love what you said at the end there that you’re getting schooled every time you go out there with someone that’s like, hey, it’s, it’s always something that they say because just think about this. I mean, think okay man, I’m just so excited. Like he just said with this lady, the two biggest things in her life, going to church and being able to do housework. We are spoiled. We are so spoiled. Like we think we’re in survival mode. But think about these people, the the man who couldn’t pick up his son for six years and he, the son was immobile. You know, and it’s like that type of thing where we live such a privileged life. If you’re here in America, it’s like that’s where I wanna make sure that you can go out there and you can make an impact in your world as well too. And this has been awesome Oggie. This is, this is so exciting to me. Now, if people want to give to chair their love is that, that QR code right behind you, is it probably a good place? Can they scan that and that’s what takes <crosstalk>? They can,

Speaker 1:

They can just scan that and donate. You can do a monthly donation. $18 and 50 cents a month, actually buys a wheelchair over the course of a year. Wow. And the thi cool thing about, about it is we have no limit on how the upside, however much you wanna donate. Yeah. We’re happy to accept because every time we raised $56,000 we can deliver another container of wheelchairs. Wow. We deliver shipping containers of wheelchairs that’s 280 wheelchairs in a container and each chair impacts about 10 lives. So each container impacts almost 3000 people. Wow. And one other thing I’d like to just share with anybody who’s watching, if you’d like to join us on a distribution, we’d love to have you later this year. We’re going back to Mexico, we’re going to Belize, we have a trip going to Vietnam in November. We’ve got a lot of trips coming up.

You can always learn more about what we do@sharethelove.org. And again, you can use that QR code to make a donation. Awesome. We certainly appreciate it. And the the last thing I wanna leave people with Yeah. Is, is what really kind of turned me onto this idea of living my legacy. You know, one of the things you learn in real estate is exit strategies. Yes. A lot of different ways to exit a property and some are way more profitable than others. And I realized that everything I knew about Legacy said I had to die. Hmm. That and death is a lousy exit strategy. Right. <laugh>. So, you know, I mean a lot of the same things would’ve happened but you know, to David’s point, I never would’ve been around to hear those stories. To meet these people and to get to share in their lives and in their stories is a powerful thing.

And I can remember stories from every distribution I’ve been on, probably 20 distributions now over the last few years. And I gotta tell you, the stories are amazing. They’re raw, they’re deep, they’re personal, and yet these people are very happy to share their story. You know, when I first started out I was embarrassed. I, I felt number one, I was, I felt guilty because hey I’ve never needed a wheelchair. Mm-Hmm. And I’ve been grateful that I haven’t needed a wheelchair. Yeah. And you know, who am I to be, you know, asking these people questions And yet once you start man, they open up and share. And they are powerful people. They are intelligent people, they are knowledgeable people, they are loving people. They’ve got as much heart and soul and spirit as anybody that’s got working legs. And that’s the thing that I’ve learned many times. It’s us that have the disability. Hmm. Wow. We view others. And now you may be sitting in a wheelchair, but I’m gonna watch out ’cause if I sit down at a car table with you, you might clean out my, you know, clean out my watch <laugh>. You’re not somebody that needs my pity or my sympathy. You may need a little assistance and I’m more than happy to provide it because what you give in return is a great blessing too.

Speaker 2:

Oh man. Thank you gie this has been incredible and I love what you said to death is a lousy exit strategy when you started reading the, the books on a legacy and just all that, that is such a great statement because if you’re listening to this, I want you to be able to live your legacy that is such a great resounding call. You know, battle cry of if you are stuck right now in the entrepreneurial rat race, you can get out of it. Go to the other pages here, go to simple cfo.com, schedule a call with our team and like we’ll point you in the right direction. Even if it’s not us. Like I’m not, like I said, I’m really not in it for all the money and just raking it in. It’s like I just wanna put you on the right path because if I could put you on the right path, then who are you gonna make an impact on?

That’s what it’s about. And that’s where if you aren’t, if this also goes as just a podcast, I wanna make sure you also get the website, it’s chair, the love.org. You can go there as well too. So there’s, if you’re watching this obviously you can just scan that QR code right there. If you’re listening to this, if we do it in just audio form as chair the love.org, you can go there as well too. Like I said, I endorse Augie big time. I’ve seen him in person doing the events and a lot of people vouch for him. And then I’ve seen the chair, the love and the impact and the stories and then the pictures and all that. I’m going to go on one of these in the near future. One other question I wanted to ask. If someone has a child, how old do they have to be to go on one of these excursions with you to go and on one of these trips?

Speaker 1:

That’s great because children make the best ambassadors of all. Yeah. They are just for sure unfiltered and adorable and we’ve had kids as young as seven.

Speaker 2:

Wow. There you

Speaker 1:

Go. The distribution trip now, you know, parents have to, you know, make the judgment call. Yeah. But we had seven year olds, nine year olds, 11 year olds, 12 year olds. And you know, we’ve had 85 year olds so, and people should know that even though we go to developing and third world countries, we stay in good, safe quality accommodations. We eat good safe food, we drink bottled water and we always have people with us in country. So it’s a very safe experience. And I know a lot of Americans, you know, fear traveling overseas and this is not that kind of a deal. So think of it in terms of charity tourism, you’re gonna get to see some of these countries, unlike other people get to see them. And that’s really cool too because yeah, typically partner with Rotary clubs and other service organizations around the world and so these people love to show off their country. So you’re gonna get to see kind of the insiders, you know, tour as well. So not only do we do good work, but we get to have a really good experience and see things that a lot of other people wouldn’t get to see. Yeah. So join us. We’d love to have you bring your kids and it’s a great learning experience for the kids too.

Speaker 2:

Are those OnAir the love.org, those the upcoming trips? Yes,

Speaker 1:

They’re, yes they are just, there’s a tab that says distributions and you click on that and it’ll show you, you know what we’ve got lined up. Yeah. Between now and the end of the year.

Speaker 2:

Awesome. So there you go. That’s how you can join one of those. If you’re listening to this and you’re watching this and that interests you and you want to do something like that, which could be life-changing for you and very great perspective. If you have a child who needs a dose of reality of what the world is as well too, like I’m excited ’cause I’ve got a six year old and we’re gonna go on one of these in then over the next year and I want to take her along too. I just want give her just more openness to like what the world is and how, why do we do the things that we do? Why does Daddy go to his office? Why does he get on these calls? Why does he record stuff? Why does he, it’s to make sure that this stuff is getting out out there and we’re actually making an impact and these are the type of people that we want to help.

We want to help chair the love and we want help the different organizations we give to, we want to give of our time and we also want to give of what we’re able to also get as well too. That’s where I just wanna have that healthy dose and I think that’s such a good thing too. And thank you for sharing the different age levels and things and then where to find it. Again, that’s share the love.org. Agie, this has been awesome. Living your legacy, make sure you live it today. Death is a lousy exit strategy. You gave us those four levels with the fifth bonus one of living Your legacy. That was incredible as well too. Thank you so much for doing this and for making an impact for you going out there, making an impact on these people, but then making an impact here of just being able to share this with other people.

To be able to hop on board and say, Hey, if you wanna make an impact, you can do it today for as little as like $18. Like if you wanna give there, that’s something that most anyone can do. Almost 20 bucks just to be able to do something like that. If you want to start somewhere, that’s where I’m always just like, start with where you can. Don’t listen to the people that are doing six, seven figures in there giving millions of dollars. It’s like what can you do and feel good about what you can do and then start on that path and that’s how you grow, you grow from there. So just start where you can. Augie again, thank you so much for being on this show today.

Speaker 1:

Well David, thank you so much for having me and to everybody listening, live your legacy. Start today, make it your lifestyle and I will tell you it will enrich your life beyond Measure. Thanks.

Speaker 3:

This episode of The Profit First for r e I 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 r e I podcast with David Richter.

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?

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.