TLP 65: Unlocking Success with Raising Private Money with Jay Conner
In this podcast episode, we interview Jay Conner, President of The Private Money Authority. He shared some valuable tips for private lenders and real estate investors:
- Always have a conservative loan-to-value ratio. This means not borrowing more than 75% of the after-repaired value on a single-family house. For example, if the after-repaired value is $200,000, don't borrow more than $150,000. This protects private lenders and investors by providing a $50,000 cushion between the property value and the borrowed amount.
- When doing one-off deals (as opposed to syndications), always give private lenders a deed of trust or mortgage to protect their investment. Also, name them as the mortgagee on the insurance policy and as an additional insured on the title policy.
- Look for conservative operators who rely on math, not emotions, to make decisions. They should know the maximum amount they should pay for a property and have experience in the field.
These tips can help private lenders and real estate investors mitigate risks and protect their investments.
Come and visit Jay’s website: jayconner.com/moneyguide to download his new book on “Seven Reasons Why Private Money will Skyrocket Your Real Estate Business and Help you Build Incredible Wealth” absolutely for FREE
Visit us here at: https://www.thelimitedpartner.com/
If you'd like to say hello, you can find Jake at @JJakeWiley on Instagram and Twitter, and on LinkedIn.
You will hear quite a bit of real estate terminology in every episode. We've aggregated the most common questions for you in the link below!
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