NOTES with Jay Conner Success 3 Ways to Fund Your Real Estate Deals Without Needing All the Cash JUNE 2019
I f you want to be successful at real estate investing, you need to be able to quickly acquire the cash you need to do deals. The majority of the deals we do require all the cash upfront. There’s nothing more frustrating than missing out on a great deal because you couldn’t get the cash together fast enough. As you may know, my favorite way to buy when all cash is required is by using private money — and if you didn’t know this, then hello, my name is Jay Conner, the Private Money Authority. Thank you for reading my article this month. That said, if you haven’t mastered the art of getting all the cash, don’t be discouraged. There are other ways we can invest in real estate that don't demand all the cash upfront. This month, I want to discuss a few of the types of deals we can do that don’t require much money. Wholesaling First, let’s make sure everyone is on the same sheet of music. When wholesaling, you’re a matchmaker. You’re really focused on marketing and locating motivated sellers. Once you find a motivated seller, you can control the property through various methods, then you shift your focus to assigning the purchase option agreement to another real estate investor who will buy the property. In exchange for that service, you receive an assignment fee. You receive that fee by assigning the contract between you and the motivated seller to another real estate investor, who will carry the deal through or finish it out. When wholesaling, you’re basically a broker. Buying Subject-to (Get the Deed) When we buy a property subject-to, the seller of the property has agreed to transfer the title and ownership of the property to us, while also agreeing to leave the current mortgage in their name. Meanwhile, we agree to make their monthly mortgage payments. You may be asking, “Jay, who in their right mind would agree to sell us their property while allowing the mortgage to stay in their name, rather than having us pay the whole thing off as would normally happen in a conventional purchase?”
Answer: “Amotivated seller who is looking for debt relief.” Another question I get when discussing buying subject-to is, “Jay, when does the seller’s mortgage get paid off?”
Answer: “When we locate a buyer who is mortgage ready and can cash us and the original seller out.” Seller Financing When the seller of a property is willing to transfer title and ownership of their property to us and they agree to get paid by us making a monthly payment to them, we call it seller financing. The seller is secure because we sign a promissory note to pay them, and the seller receives a mortgage, though some states call it a deed of trust. In many cases, the seller of the property (particularly when they own the property free and clear) will agree to sell us the property with no down payment and 100 percent of our monthly payment going towards the equity of the property. Hence, when using seller financing, we are able to buy with no down payment and no interest expense. Would you like to learn more about these creative strategies and methods for using other people’s money to fund your deals? Here’s how you can: I have two free tickets — valued at $2997 — for you to attend my upcoming live event, The Real Estate Cashflow Conference (June 19–21). Hurry to JaysLiveEvent.com to learn all about this offer and get registered today!
I will be there to personally teach all three days, and I look forward to seeing you at the event. – Jay Conner
How to Get Lots of Money for Real Estate Fast & Easy! • Call Now! (252) 808-2927 • 1
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Don’t Be ‘That Guy’
The 3 Cardinal Rules of
2. Write like a human being. Many professionals assume that the need for brevity means they can get away with short, robotic messages. Managers are especially guilty of this, sending out single-sentence messages in all lowercase letters with no emotion. We get it; you’re busy. But it’s worth taking an extra moment of your time to craft an email that carries the human element as well. It’s important to take a professional tone and to keep communication brief, but you can still write, to some degree, like you talk. This will show recipients that you take communicating with them seriously. 3. For the love of all that is holy, reply to the emails you receive. Again, you’re busy, and you’ve got to prioritize your work, but consistently ignoring emails is a clear sign of negligence and will make you unpopular among your coworkers. If you don’t have time to think of a clear answer, a simple confirmation that you
The average businessperson reads and composes more than 120 emails every day, but there’s an overwhelming amount of business emails that seem to be written with no apparent regard for the reader. A massive chunk of people’s workdays is wasted wading through irrelevant, unclear, or incomprehensible messages. To remedy this issue, it’s vital to understand the keys to effective online communication, both to stem the tide of annoying and unnecessary emails and to protect your reputation as a professional. Here are three rules for effective email communication. 1. Tighten it up. When your message is sitting in an inbox packed with dozens of others, it’s essential to respect your reader’s time. Make the contents of the message clear from a glance at the subject line. Your subject line is what will draw the attention of the recipient — or lead them to skip over it altogether — so be specific and relevant. In the body of the email, your reason for emailing, as well as all the important points, should be immediately clear. Keep it as concise and as transparent as possible.
The Power of ‘Mindset’ How Being Open to Growth Leads to Success
For decades, Dr. Carol S. Dweck studied the phenomena of success. How is it that some people are able to grow their business, stay fit, or achieve their personal goals while others in similar situations stall out? “Mindset” is Dr. Dweck’s answer to this question. Subtitled “The New Psychology of Success,” this book chronicles the Stanford psychologist’s findings, which suggest an inseparable link between belief and achievement. According to Dr. Dweck, people tend to think about the challenges in front of them in one of two ways. They either have a “fixed” mindset — believing that their talents and abilities are static, intrinsic properties of who they are — or a “growth” mindset — believing they can improve every aspect of themselves with practice and perseverance. Those who approach life's hurdles as an opportunity for growth are the ones who find long-term success. If you’ve ever said “I’m just not good at math” or “I’m not a natural leader,” you’ve fallen into the fixed mindset trap. If you believe there’s nothing you can do to change your circumstances, you’ll never strive to improve them.
The same is true of positive fixed opinions of yourself. Dr. Dweck points out that those who believe themselves to be “a great boss” or “an amazing athlete” are also doing themselves a disservice. Once you think your skills are tied to who you are as a person, you’ll avoid challenging them for fear they might be found wanting. Dr. Dweck argues that, instead of falling victim to the pessimism and self-delusion that defines fixed mindset thinking, we need to recognize that the path to success lies in open-minded perseverance. “A person’s true potential is unknown (and unknowable),” she says. “It’s impossible to foresee what can be accomplished with years of passion, toil, and training.” Not only does “Mindset” drive this point home with well-documented experiments and studies, but it also provides a workshop to help people break free of their fixed mindset and find success.
2 • www.JayConner.com • PO Box 1276, Morehead City, NC 28557
When you’re thinking about buying a new product or service, what’s the first step you take? If you turn to the World Wide Web in search of reviews, then you’re in good company. According to a survey conducted by BrightLocal, 85 percent of consumers regard the customer review to be the single most credible and trustworthy source of advertising. That same survey found that 68 percent of customers surveyed were willing to provide feedback for the company. So, how do you get your customers to write the The GoodKind of Gossip How to Cultivate Valuable Customer Reviews Don’t rely on customers to go to your website to leave reviews. There are numerous websites you can utilize that make leaving feedback more convenient for your clients. What’s more is that these other platforms are highly trafficked. BrightLocal found that Facebook and Yelp were consumers’ most trusted sources of user reviews in the U.S., but you can also use Google My Business or the Better Business Bureau. Most importantly, be sure you are active on all the platforms you use. 2. Offer Incentives Give your clients a reason to write reviews. Consider offering incentives like a discount or coupon code, coffee gift card, or an entry to win a contest for an even bigger prize. 3. Ask the Right Questions Think of the review process as a conversation rather than a request to be met, and use open-ended questions to start. Before you even request a review, you can ask customers questions like “How was your recent experience with us?” or “How are you liking your product?” That way, you can gauge their satisfaction before they leave any feedback. 4. Respond, Respond, Respond The last thing you want to see is a scathing one-star review. But no matter how hard you work, they are still bound to happen. When you receive one, take the time to respond thoughtfully — without being defensive — and try to come up with a possible solution to the complaint. And be sure to respond to your positive reviews as well. When you show that you engage with all of your customers, prospective ones will be more likely to give you a shot. glowing reviews that help close deals? 1. Diversify Your Platforms
Effective Email Communication
received the message goes a long way. While you can safely ignore all those companywide filler emails you receive each week, you need to show your coworkers and contacts that you’re willing to put in a little effort and that you’re on top of your responsibilities.
Psalm 34:10 "The young lions do lack and suffer hunger; But they who seek the Lord shall not be in want of any good thing." 2 Corinthians 9:8 "And God is able to make all grace abound to you, so that always having all sufficiency in everything, you may have an abundance for every good deed ..." Matthew 7:7 "Ask, and it will be given to you; seek, and you will find; knock, and it will be opened to you." Psalm 23:1 "The Lord is my shepherd, I shall not want." Have You Heard the Good News ... As It Relates to “God Providing for Us”?
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PO Box 1276 Morehead City, NC 28557 INSIDE THIS ISSUE Beyond Private Money page 1 The 3 Cardinal Rules of Effective Email Communication pages 2–3 How Being Open to Growth Leads to Success page 3 The Value of User Reviews and How to CultivateThem page 3 Don't Miss This Exclusive Mega- Money Event! page 4
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Register Now at www.JaysLiveEvent.com or call (252) 808-2927 - Meet Jay’s private lenders - Get private money - Get a FREE Rehab Bus Tour (see Jay’s rehabbed homes!) - Meet Jay’s “Dream Team” (his interior designer, contractors, Realtors, real estate attorney, and buying and selling assistants) - Attend the VIP reception - Learn Jay’s automation techniques
4 • www.JayConner.com • PO Box 1276, Morehead City, NC 28557
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