Father and Son Team Raise $300K for Real Estate Project
Channel: Raising Private Money For Real Estate - Jay Conner
Date: 2018-09-12

From Florida, Nelson & Jonathan Faircloth join Jay Conner today.

They are very successful real estate investors. Father and son team joined Jay's Mastermind group a year ago

Private money and funding: $299K
Equity: $600,000

Nelson was in vet sales for 20 years. Jonathan was in the National Guard for 12 years and got his Master's Degree.

Jonathan started in 2015 with his first deal. Nelson's first deal was in the 1970's. 

Nelson started in investing early in life as his father encouraged him. Jonathan was taught by his dad. They worked together.

The types of deals they do are:

1) Average price: $125k - $250,000
2) Lots of Foreclosures with Subject to
3) Lots of rehabs

They make up outstanding payments of mortgages. This helps rebuilding the seller's credit.

They find foreclosures by following Jay's systems, especially the 8 letter campaign.

Many people in foreclosures don't open their mail as they are depressed. 

Biggest mistake in real estate investing: 

1) Don't let it get personal.
2) Greed. Doing too much.
3) Handing off responsibilities. Get other people to do a lot of the work instead of doing it all yourself.

Case Study

How did you find the deal?
How did you fund the deal?

A little house on Hollowbrook Dr. was an interesting deal. A wholesaler is someone who negotiated a deal. He sells the paper on the deal. The wholesaler is paid an fee.

He made $40,000 on assignment. Nelson made $40,000 of the rehab.

Wholesaler had a contract to buy at $70K. Paid him $40K. Rehab $20K. Total cost: $130K

Listed at $200,000. Profit: $45000 after realtor fees.

This took about 3 months.

Wholesalers can be found at REIA meetings.

As a father/son business, they have special challenges. They are working on specific responsibilities and who does what.

Their advice to a new investor: 
1) Delegate. There are so many tasks. Find people who can take over some tasks so you can focus on building the business.

When they did their own rehabs, they did 5 deals a year. Once they had others do the rehab, they doubled their deals.

Jonathan's personal success habit: 
Focus on what needs to be done and doing it.

Nelson's personal success habit: 
Desire, enthusiasm, drive. Don't shy away from work.

Jonathan's favourite book:
1) Go Giver
2) Compound Effects

Nelson's Book:
1) Zig Ziglar's Secrets of Closing the Sale

Go to Real Estate Cashflow Conference to learn how to successfully invest in real estate
http://bit.ly/jaymoneypodcast

Listen to our Podcast on iTunes: https://itunes.apple.com/ca/podcast/real-estate-investing-minus-bank-flipping-houses-foreclosure/id1377723034?mt=2

Google Play:
https://play.google.com/music/listen#/ps/Ihrzsai7jo7awj2e7nhhwfsv47y

Jay Conner has been investing in Real Estate for over 15 years. He typically makes 2 deals a month. He has bought and sold over 400 homes.

He had an 800 credit score and the bank closed his LOC. He needed to find a new source of funding. In the past eight years, Jay has never missed a deal because of funding.

He has developed a strong network of Private Money suppliers. 

Chaffee-Thanh Nguyen started investing in Real Estate a decade ago. He dramatically changes and impacts the lives of thousands of people around the world as an Executive Success and Event coach with the likes of Powerteam International and Marshall Sylver’s Mind Power Inc. Chaffee also teaches at his own events.

http://www.keyconceptcoaching.com/

The Conner Marketing Group
PO Box 1276 Morehead City, 
North Carolina 28557
Phone: 252-808-2927
Fax: 252-240-2504

Free Webinar: How To Sell Any Home In 3 Days Or Less
No Matter How Crowded Your Market Is!
http://bit.ly/jaymoneypodcast

WEALTH & FREEDOM FORECLOSURE SYSTEM
HOW TO FIND, TRACK AND PROFIT FROM FORECLOSURES
http://www.jayconner.com/products/foreclosure-system/

What others are saying:
“Jay’s private lending scripts alone are worth the price of his entire system, and are the best I’ve ever heard … including mine!” – Ron LeGrand, Famous Real Estate Guru, Jacksonville, FL

Producer: Scott Paton
https://www.udemy.com/powerpodcasters/?couponCode=PP10

Visit our Channel:
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Playlists:
https://www.youtube.com/watch?v=T6sHj3R5FuI&list=PLTMERXRi9cnVPmCzyV_Xtpk654WbVi5Ln
https://www.youtube.com/watch?v=yTWMsHNFSPs&list=PLTMERXRi9cnVTWhmcE4SuEBjpultnpGqe
https://www.youtube.com/watch?v=yTWMsHNFSPs&list=PLTMERXRi9cnUof2dyBiu4BMA8fjhsmgQI
https://www.youtube.com/watch?v=yTWMsHNFSPs&list=PLTMERXRi9cnXivabzJE13CFYu9O6aCpBN

https://youtu.be/GNHc-wWLUS0

Father and Son Team Raise $300K for Real Estate Project
https://youtu.be/IvIgxrbh4Sw

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DISCLAIMER: Jay Conner is not a financial advisor, real estate broker, licensed mortgage broker, certified financial planner, licensed attorney nor a certified public accountant, therefore consult with a professional prior to making any real estate investing.