Monday, March 22, 2021

Jay's Latest Real Estate Deal: Buying and Selling Without the Bank

On today’s show, Real Estate Investing with Jay Conner, Jay will share his latest deal at Panther Trail Havelock, North Carolina. How did Jay find and structure this deal? What are the numbers? How is he going to make at least if not more than $66,000? All this without using his own money. Watch this video to learn the answers to these questions and find out Jay’s multiple ways of funding a deal.

Timestamp: 0:01- Teaser 1:17 - Jay’s new book: www.jayconner.com/Book “Where To Get The Money Now” 2:46 - Panther Trail Havelock deal 4:58 - Buying Subject-To Existing Note strategy 11:43 - Purchase Price: $99,000 15:08 - Rehab: $15,000 15:42 - ARV: $180,000 16:10 - Flip Profit: $66,000 17:40 - Two Exit Strategies 17:58 - Rent-to-Own Strategy 19:27 - Sale: $180,000 as is to an RTO buyer 25:24 - RTO Profit: $81,000 in the future 28:40 - $66,000 Profit 33:03 - Quick summary of the deal

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Jay Conner:

If you're looking for more money to fund your real estate deals without relying on hard money lenders or any kind of institutional money, don't go anywhere because I'm getting ready to plug you into the money right now.

Jay Conner:

Well, hello there, my friend! I'm Jay Conner known as The Private Money Authority and welcome to Real Estate Investing with Jay Conner. And I just promised you, I'm going to plug you into the money to fund your real estate deals. And I'm not talking about bank money, mortgage money, any kind of hard money. I'm talking about private money to fund your deals. You see from 2003 to 2009, I relied on the banks to fund my real estate deals. But in 2009 in January, like the rest of the world, I got, I lost all my lines of credit. And so I discovered this world of private money. Getting money from individuals, from their investment capital, from their retirement funds, to fund my real estate deals. Well, I have just finished writing and released my brand new book, and I'm going to offer it to you for free. Right now, the book is called, Where To Get The Money Now, subtitle, How and Where to Get Money for Your Real Estate Deals Without Relying on Traditional (or Hard Money) Lenders.

Jay Conner:

What makes this book and this process and system so different? First of all, you set the rules, you set the interest rate, you set the length of the note using my system. You always come home with a big check. When you buy a property, you get multiple checks on every property, your credit's got nothing to do with how much money you can get. Your verification of income has got nothing to do with it. And you get multiple checks on every transaction that you do. It works for single-family houses. It works for multi-family and commercial deals as well. So to get my brand new book, Where To Get The Money Now, without relying on institutional money for your real estate deals, you can go right on over after we finished the show to www.JayConner.com/Book

Jay Conner:

Again, to get the free book it's www.JayConner.com/Book. Get right over there. And we will rush your copy out in the mail. First class mail shipped right to your front door. You'll have it in just a couple of days. So with that, I'm excited today on the show to talk with you about a deal that I just put under contract last week, we're talking about Panther Trail and Havelock North Carolina. And to help me talk about this deal, I have invited the Executive Producer of this podcast, Scott Paton, to join me here on the show and help pick my brain as to how in the world we found this deal and how we structure the deal and how the numbers are working and how we're going to make. At least, if not more than $66,000 on this little ranch house right here in Eastern North Carolina. Hello there, Scott! Oh, you're on mute.

Scott Paton:

Hey Jay, how are you doing today?

Jay Conner:

I'm doing great because we got another deal under contract without using my own money.

Scott Paton:

And that's exciting. That must be a really nice feeling. You know, you look at your bank account and most people, when they buy something, the bank account goes down, you buy a hundred thousand dollar pieces of property and your bank account stays the same. And then goes up.

Jay Conner:

Exactly, because we've got multiple ways that we fund the deals, this particular deal. We didn't actually use private money. As we were just talking about here on the book, I can use private money and I will use private money in addition to how I bought it. If I decide to rehab it, I love this kind of deal because we've got multiple exit strategies. So yeah, I mean, there's so many lessons to be learned from this particular house that we just put under contract.

Scott Paton:

So Jay, if you didn't use private money, you didn't use hard money and you didn't go to the bank. How did you buy the house?

Jay Conner:

Yes. So, we bought this house. Well, it's under contract. So you know, we haven't had the final stanza of the opera singer yet, but it's scheduled to close actually next Tuesday, there's a lesson right there. We put it under contract last week. It's already closing next week. That's less than two weeks of putting it under contract without using any kind of bank money. So how do we do it? So we bought, we got this house under contract using a strategy called, Buying Subject to The Existing Note. So I'm sure many of you know what that means, but just in case, you're listening on, you know, iTunes or Google Play or whatever, and you don't, and you're not familiar, our subject to means, there is a mortgage on the house. The people that are selling the house to us have got a mortgage it's current.

Jay Conner:

It's not behind. Doesn't matter. You can buy a house subject to the existing note, whether the payments are current or the payments were behind. But, what it means is the seller is agreeing or has agreed to sell their house, transfer title, transfer the deed, transfer ownership into my business. We're going to own the house. And the seller has agreed to leave their mortgage in their name. And I am agreeing to make their payments, their monthly mortgage payments to keep it current. And you know, when I first heard of this strategy, my first thought Scott was, who in their right mind would sell me their house and agree to give me total ownership. These people are moving out of state. I mean, they're going, I'm in North Carolina. These people are moving down to Georgia.

Scott Paton:

Wow!

Jay Conner:

Who in their right mind would sell me their house and not get their mortgage paid off. And I'm agreeing to make their payments? Well, the answer to that question, the person that will agree to do that is a motivated seller. And there's many, many, many different types of motivation. These particular people are just done. If they were to put the house in the multiple listing service, it needs money in order to get it to someone. So they want to go, they don't want to go through the unknown timeframe of how long is this going to take to get the house sold, et cetera. So, and I want everybody to understand

Scott Paton:

The realtors. Aren't really going to look at this house. Is that what you're saying?

Jay Conner:

Correct. So, we're buying it subject to the realtors that got nothing to do with this transaction. This is between them and between me and my team and my company. And I want everybody to understand that when you buy a house subject to the existing note, that is not assuming the mortgage. I'm not assuming the mortgage. If I want to assume the mortgage, the mortgage would be transferred into my name. The mortgage is not being transferred into my name. It's staying in the seller's name and the bank or the mortgage company, or the lender has got nothing to do with this decision. They don't have to approve me. They don't have to approve you. This is between you and the seller. And guess what? It's line number 203 on the settlement statement. This is nothing that's like, you know, your real estate attorney has got to go make up something on the paperwork. It's already aligned on the HUD settlement statement. And the funding line says purchased subject to the existing notes. So, that's how we have funded this deal.

Scott Paton:

That's pretty amazing. So, you're making the payments. You're not making any down payment and you don't really have a lot of risks.

Jay Conner:

Correct. So, you know we're doing, My real estate attorney is handling the closing. So, this is not like some kind of documentation that we do on somebody's kitchen table, that all of our closings are handled by the real estate attorney. And so yeah, and mean a lot of times when we buy a house subject to the existing notes, such as a foreclosure and people are behind on their payments, we have to bring those payments current. But in this case, they're current. And of course they are trusting me and my company to keep their payments current. They've got great credit. They tell us, the payments are current. And you know, they're trusting us to keep those, their payments. Current goes, you know, a year or two down the road, they're probably going, or, you know, two or three or four years down the road, they might want to buy another house. And this mortgage will need to be paid off before they buy another house. But that's not their primary concern, right now.

Scott Paton:

So, basically what you're saying is you found this house that people want to leave the state. The house is in the condition that a realtor will look at it and laugh and leave. Basically, they're not going to be able to put it on MLS to sell it. You come along and you say, you know what? I can fix up the house. I can, I'll make you an offer. And part of that offer that they agreed to was, you're just going to take over the mortgage payments. So, you don't have a big down payment to make. You've got whatever their mortgage payment is. They're able to say, Oh, thank goodness! This house is off of my plate. What a relief that is, now we can go. I think you sit down to Georgia and live the life that we want to live or whatever it is.

Jay Conner:

Well, you just said something, Scott, that triggered this. And that is, when a seller of a house is motivated. And their primary motivation is debt relief. You just said the houses, you know, off their shoulders, the mortgage is off their shoulders. It's still in their name, but the responsibility of it, as far as what I've agreed to is off their shoulders. So, a subject to seller is really looking for us. I just want to get this payment off of me. So, I can get on with my life. And that motivation, I mean, somebody, you know, something motivating somebody to do that could be divorced. It could be the loss of a significant other or spouse. It could be the loss of a job, I mean, on and on and on and on and on. Right? And so, I can tell you, Scott, just from experience of doing this business since 2003 and rehabbing over 400 houses and doing all these deals, I guarantee you, if I wanted to, I could have asked the sellers to make the next three payments. If I agreed to start with the fourth payment, they would have done it. They would have moved on to Georgia. No, in that, all I got is three more payments and I'm done. But you know, enough is enough when we go over the numbers here in a second on this house. I mean, my lands, I don't need to negotiate that even though I could have,

Scott Paton:

Let's get into some of the numbers, Jay, like how much did you buy the house?

Jay Conner:

Yeah. So, the purchase price is 99,000 and some change, but we might as well call it a 99,000. Now the purchase price is, how much they owe on the house? That's the purchase price. That is the payoff. That's currently what they owe. And now how do we know exactly how much they owe when I buy it subject to? Here's, how, we have the seller of the house, contact their mortgage company or their current lender and ask for what's called a 30-day payoff instruction letter. So, we don't just look at their most recent mortgage statement either that came in the mail or it's online. That's not what's owed on the house. There's some other ancillary fees. So, I want to know exactly what's owed on the house. Now, these people, when we asked the question, would you be willing to sell what you owe? Would you be able to sell it? Would you be willing to sell it for what you owe? That's the pay off. Their answer was yes, to that question, we'll sell it for what we owe, By the way, we never talked subject to over the phone. We don't talk about that, until after we'd been to the house, right? That's beside the point for now. So the purchase price is $99,000, and that is how much they owe on the house. That's how much they owe on the mortgage.

Scott Paton:

So, they just want to walk away from this and not have it be any more of a problem than it already is.

Jay Conner:

This be done? And they've owned the house for about five years and they've put their own money in it. I mean, they, there's beautiful stainless steel appliances that they put in like a year and a half ago. There's beautiful new countertops, they put in. New flooring that they put in, in some areas of the house. So,

Scott Paton:

We're not talking about a shack? We're talking about

Jay Conner:

This is what we call a pretty house. So, you know, as I said, we've got multiple exit strategies to consider here. But the first thing I want to do is just close on it next week. And then, I'll decide what I wanna do, but we'll talk about the different, there's two [inaudible]

Scott Paton:

It's nice to have more than one option for exiting.

Jay Conner:

Yes.

Scott Paton:

So how much, if you decide, cause normally what you do is you buy the house, you fix it up, you sell the house. So, I'm assuming that's the first strategy we're going to talk about to fix it up. You said it's 99,000. It's probably going to be what, 40 or 50,000 to fix it up and get it presentable?

Jay Conner:

Well, that's a wonderful thing about this home. So this is what we call a pretty house versus an ugly house. A pretty house definition is it's habitable, needs some TLC, but nothing major, you know, I mean, it doesn't need, like you don't need a new roof. However, it does need some minor roof repair on the front right corner. But the roof is fine. Doesn't need a new HVAC. Right? But it needs lipstick. So, if I rehab this house all the way and make it drop dead, gorgeous, ready for Southern Living Magazine pictures and all that, and for, you know, for the realtor to hire the professional videographer and come in and do a 3D,

Scott Paton:

Right. The walk.

Jay Conner:

And all that. So, it take $15,000 estimated rehab to make it just absolutely gorgeous. If I want to put it in the Multiple Listing Service and get top dollar today.

Scott Paton:

So, your bottom line cost or the money you're going to be putting out, over time, and right away is around $114,000

Jay Conner:

If I choose to rehab it.

Scott Paton:

Right. So, if you choose to rehab it, what would you sell it for?

Jay Conner:

Yeah. So the after repaired value is $180,000 today. And that's what my realtor just told me last week, as we were touring the house right before we went under contract. So the after repaired value, of course, the definition of after repaired value is everything. It looks like a brand new home, smells like a brand new home, all that. So after repaired value 180,000, if I rehab it at 15,000 purchase of 99. So the anticipated profit, putting it in the multiple listing service, listing over the realtor is $66,000 profit. Yeah. That's the flip profit.

Scott Paton:

Right.

Jay Conner:

66,000. And you know what? My average profit person, I mean, this house has got 1,450 square feet, three bed, two bath.

Scott Paton:

Beautiful.

Jay Conner:

You know, it's just your average, you know, size house, by the way, Scott, I didn't even tell you or tell everybody how did in the world did we find this house? Well, we found this one with a Google ad. So what's so beautiful about Google ads versus Facebook ads. And I do both. I do Facebook ads, I do Google ads. A Facebook ad, it comes up in your newsfeed and you weren't looking for it, right? It just, there you are on the newsfeed, a Google ad. This is a writer, downer folks. This is a writer downer right here. When you get a response from a Google ad, then people were looking for you.

Scott Paton:

Yes.

Jay Conner:

They went to Google. And they typed in sell my house fast or something like that. And guess what? They're you go, then you're on your Google ads. Like, you were looking for me. Here I am. I'm going to fix your problem. So a Google ad, a prospect has got typically more, much more motivation than a Facebook ad respondent.

Scott Paton:

So, you had talked about "Two Exit Strategies". You already talked about one where you basically buy the house, fix it up, put it, give it to realtor, Chris. And he goes, puts it on the MLS and he does a great job of selling it. But there's a second exit strategy that got you kind of excited. What was that?

Jay Conner:

So, we sell a lot of homes on rent to own, same thing as lease purchase. So, let's talk about these two different exit strategies. And quite frankly, I haven't decided which way I'm going to go. It doesn't matter really. I mean, it's, both of them are wins, but let's just lay out the numbers. So, I'll sell it on a rent to own. Now, let me describe what rent own means lease purchase is the same thing. So, a rent to own buyer typically does not have the credit score to qualify for a mortgage. But, they can afford a monthly payment and they got to have a deposit or a actual legal term is called an option fee. We also call it a Non-Refundable Lease Option Deposit. So, the reason a rent to own buyer will buy from you. So if I sell it to on rent to own, I'm selling it as is.

Jay Conner:

It's also called in this case, work for equity, right? But, we're selling it as is. So in other words, if I sell a rent to own, I'm not going to put $15,000. I'm not going to put $15,000 rehab in this house, because guess what? They're going to paint the walls themselves, all it needs is lipstick, this and that.

Scott Paton:

Right.

Jay Conner:

So, I'm gonna sell it at the same price of 180,000, but let me just get you in the mind of the rent to own buyer, okay? The rent to own buyer right now, there's 82% of Americans that cannot go to the local bank or a mortgage company and get a mortgage. Only 18% of the people can. So, there's a lot of those people in the 82% category that don't qualify for a mortgage that would love to own a home. So, when we sell it on rent to own, we're giving them the opportunity to look forward to having that homes deed, transferred into their name when they are ready for a mortgage.

Jay Conner:

Typically, I'm not going to accept less than 5,000 or $10,000 in this case. 5% to 10%, typically not, or less than 5% of the rent to own selling price. The difference between selling it in the multiple listing service and selling it on rent to own is, if I sold on rent to own, I'll make more money, but I got to wait to get my money. I make a little bit less money and get my money today. So, Scott let's run the numbers here. I'm going to sell it for the same price. You say, wait a minute, Jay, why would a rent to own buyer pay the same price today as a multiple listing buyer, that's ready for a mortgage. And here's why, number one, their primary motivation is not price number two. And this is very, very important. Don't miss this folks.

Jay Conner:

If I set, I always set the price typically at about 10% or so, five to 10% above what the home is worth today. So the home is not worth $180,000 today in its current condition, it's worth $180,000 above the 15,000 in it, right? So the home is worth right now, let's say as is $165,000, but I'm not going to sell it to the rent to own buyer for what it's worth today. And here's why, besides their primary motivation not being price, if I'm going to give them one year or two years to get ready for a mortgage. Well, my land is just in the past year, prices had gone up 20% in this area.

Scott Paton:

Wow!

Jay Conner:

If I set the price at today's as is value of 165,000, and it goes up 20%, which would be about $13,000 within a year or two, I just threw, $13,000 out the window. Right? So, that's why I'm setting the price at 5% to10% above what it's worth today.

Scott Paton:

So in a way, they're not buying the house today or closing next week, they're actually buying the house in a year or two years down the road,

Jay Conner:

Correct. Correct. Now, the beautiful thing about our rent on buyer relationship to me, the real estate investor that is selling, we don't have a traditional landlord tenant relationship.

Scott Paton:

Right.

Jay Conner:

What I mean by that is, the first 30 days when they move in, I'm responsible for all the repairs of anything. That's not working as it's intended. I want all the major components to be working. I don't want anything leaking, right? I just want them to be responsible for the TLC, the tender, loving care, the lipstick, et cetera. So after 30 days, the rent to own buyer is responsible for all the repairs. So, they have got the mindset of being a homeowner. Another great advantage is I don't care if they got pets, they got pets. They can move in. So, the rent to own buyer has got the mindset of, I am a owner. I just don't have the title or the deed transferred into my name yet.

Jay Conner:

And this is a pathway to where I can actually be a homeowner. Whereas otherwise I'd be renting, you know, maybe the rest of my life. So, this rent to own exit strategy is just a beautiful win-win for everybody. So Scott, back to the numbers, I'm going to set the price still at $180,000, selling price, same thing as selling today. But guess what? Guess what? I'm not going to put $15,000 in rehab. I'm not going to do anything. I'm up, there going, Hey, this house one, room's got purple walls, another room's got orange walls. You say, Jay, how can you sell a house with purple walls and orange walls, rent to own buyer. They're going to paint it the color they want anyway, right? Oh, you're on mute. Scott.

Scott Paton:

That would normally be a mistake that a lot of people make too, is that, you, let's say you go and you paint everything. And then the next, the rent own buyer comes in and they don't like the colors and they want they're going to repaint it.

Jay Conner:

They're going to repaint it anyway.

Scott Paton:

Cause you're not talking to people that are poor, necessarily. They're just people that can't afford a mortgage. And I think that's a huge distinction because a year ago, if you could get a mortgage, if there was a hundred people who a year ago could get a mortgage, 30% of them cannot today. Even if nothing has changed in their finances, the banks have just changed the rules and the criteria. And you had a great stat about like 82% or whatever it was. Can't afford it anyway, it's gone up because the banks have sort of tightened the screws a little bit. And so we have a lot of people who have no problem making the down payment. They have no problem paying the rent. They have a problem with the bank, just like you had the problem with the bank, you know, a long time ago. And this is a solution for their problem.

Jay Conner:

Exactly. So the profit here, let's run the numbers here on the rent to own. So the profit is 180,000 still when they're ready for a mortgage of all I've got in, it is 99. So the profit in the future on this exit strategy is $81,000 versus 66,000 today. But I got to wait, but there's one thing on this profit that we haven't calculated. Scott,

Scott Paton:

Yeah.

Jay Conner:

account, selling on a rent to own. I got a positive cash flow. So this subject to mortgage, the monthly mortgage payment is right around 700 a month. The rent to own buyers going to be paying 1200 a month. So I'm going to get a $500 a month, positive cash flow. If I sell to rent to own, I got that 5 or 10% Non-Refundable Lease Option Deposit. Now, when they get ready for a mortgage, if they get ready for a mortgage, okay, I'm going to apply that 5 or 10,000 or whatever it is.

Jay Conner:

Non-Refundable Lease Option Deposit to their purchase price. But, guess what? Let's say, they don't get ready for a mortgage. Let's say they move out. Guess what? I still own the house. They don't get their Non-Refundable Lease Option Deposit back. And I get to sell the house again. Now, I will tell you my mindset and my outlook with having a servant's heart is the way I look at this world and people. I want these people to get a mortgage. Actually, I'm going to help them. I'm going to refer them to my credit repair company, help them get there. But if they decide otherwise the responsibility is on them as to whether they stay or they move out. So again, mobile exit strategy. That's another thing, Scott. We didn't bring out. And I see we're about running out of time. So I probably need to wrap up.

Jay Conner:

But one thing we didn't bring out is let's come back over to the rehab. How am I going to fund the rehab? If I decide to rehab at 15,000 and put it in the multiple listing service? Well, here's how I'm going to fund it. Private Money. I'm not going to get that $15,000 out of my pocket, right? I'm going to use private money, so I can get a small, I, you know, I could borrow 20,000, 25,000 whatever dollars from a private lender and give them a promissory note and a mortgage and second position underneath the first mortgage. So, now first mortgage payment that I'm agreeing to pay. Now, I can just borrow, shoot if I borrowed $25,000, use 15,000 of it to rehab it, I can stick the other $10,000 in my pocket. So if I borrowed 25, I bought it for 99 call it 125. When I sell it for 80, I still got a $55,000 positive cash flow and I put $10,000 in the bank. Ain't it a great business?

Scott Paton:

Yeah, it is. That's amazing.

Jay Conner:

So again, fix it up, fix it up, sell it now. $66,000 profit. Of course that's less realtor fees. See, when you sell on rent to own, there aren't any realtor fees. That's another benefit to selling on rent to own. You're going to save five or 6% because you found the buyer, rent to own buyer gets ready for a mortgage, 5% savings at least. That's going to save you $9,000 in realtor fees. If you sell on rent to own. Again, you want more money. You want nice money now or you want even a bunch more money later? You get to choose.

Scott Paton:

So, you can have a nice little check at the beginning. Then, you can have a nice little check every month, come in. And then you'll get a nice size check when they decide to, when the bank says, they're going to be able to afford a mortgage, but what would happen if they're, okay, so they've got a good job, but let's say it's a family. Both of them are working. They've got a good job. Everything is fine. They're having a bit of trouble with their credit. And they decided to go for say two or three years instead of the one year. Is that an issue?

Jay Conner:

Yeah. So that's an excellent question. Most of the time, my rent to own buyers, the rental agreement is for one year, 12 months, right? So, I'm giving them 12 months to get ready for a mortgage. If they use the credit repair company that we refer them to, then they can, they will probably be ready for a mortgage, but I want to work with people, right? So from a legal standpoint, if they're not ready for that mortgage in one year, well that term I could kick them out. I mean, I could, you know, they lose their Non-Refundable Lease Option Deposit. I go sell it again. But you know what? I don't do that. I want to work with people if they've been making their payments on time and they're making progress and I've got a nice cash flow coming in. Why in the world would I want to kick them out? I want to keep working with them, right. To help them move towards the mortgage. So, and answer the question. If they're not ready for a mortgage within the term of the agreement, what do I do? I extend their rental period. If they have kept their end of the bargain.

Scott Paton:

Now, the other side of it is, they're motivated to fix their credit because you just said that there was $700 is what the mortgage is now, and they're paying 1200. So, if I've got any financial savvy at all, I know that I could be saving that. Let's say $400. Maybe it's a little bit more expensive mortgage than the people that are there now. So, you know, I can be looking at saying, I'm giving away $400 that I could be putting in my pocket $5,000 a year. And so I'm motivated to be able to switch over to this as soon as

Jay Conner:

Yeah. And interest rates today in the two's that $1,200 a month rental payment would come down and help their cashflow per month when they are ready for a mortgage, that's for sure.

Scott Paton:

Nice, awesome. So, that's a pretty nice deal that you've got going there and you're helping two groups of people. Obviously the people there want to leave and another family is going to want a nice place in North Carolina.

Jay Conner:

Yeah. I mean, it's a, win-win all around. I mean, these people are sellers. They want out of Dodge. They want to get back, but they've lived down in this town in Georgia. They want to get back to this town in Georgia. They don't like where they are here. They want to get, they got family down there in Georgia and that's a win for them. I mean, we're able to make it happen fast. I mean, you know, we're closing in within two weeks that never happens through traditional. And guess what? Another advantage of buying subject to, or using private money? There's no appraisal involved. There's time entanglements that I mean, the beautiful thing about either buying subject to, or, and, or using private money is we get to set the rules, the banks don't set the rules, we set the rules. So yeah, I mean, this is just a great example of the deals that we do every month, month in and month out.

Scott Paton:

So, let me just quickly go through a summary for everybody. So, you purchased the place for 99,000. You bought it subject to the existing note. The after repaired value is 180. The rehab is going to be around $15,000, by private money. So all in your cost is 114,000, which if you just put it on MLS and you sold, it would be a profit of 66,000 less lawyer fees, realtor fees, that sort of thing. However, we have two exit strategies and the second one is sell on rent to own. So, you're still going to sell it at the same price. And it's going to be around $1,200 a month on rent to own. And the Non-Refundable Lease Option of between 5 and $10,000, which means that probably in the neighborhood of $81,000 profit, you're helping somebody who doesn't, can't get a mortgage right now, but they're going to be able to have that feeling of home ownership and move towards it and fix their repair. And it gives you a monthly positive cashflow of $500. So, you're going to get some money right away, a nice chunk, five, 10 grand. You're going to be at this cash flow going through for the next year or so. And then at the end of it, they're going to get a mortgage and you're going to get the rest of the money.

Jay Conner:

That's it.

Scott Paton:

Sounds like a great deal.

Jay Conner:

It is Scott. Scott, I'm so glad you joined me here. Folks again, Scott Paton, The Executive Producer of Real Estate Investing with Jay Conner. And I tell you what, it's a lot more fun to talk with somebody and be a talking head. I'll tell you that.

Scott Paton:

It sure is. So Jay, if somebody wanted to learn more about what it is that you do. How can they, what steps should they take?

Jay Conner:

Well, it's real easy folks. Get right on over to www.JayConner.com/Book And I go through all the steps, easy steps on exactly how you can get as much private money as I do, to fund your deals. Thank you so much for joining and look, I really appreciate the reviews. If you're, you know, subscribe on YouTube, be sure and subscribe and ring that bell. So, you don't miss out on any of the future trainings that we do right here. Be sure to like, share, subscribe and join us again. I'm Jay Conner, The Private Money Authority wishing you all the best and here is the taking your business to the next level. We'll see you on the next Real Estate Investing with Jay Conner.

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