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Tulsa Real Estate Fund?


 
 
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 1 year ago '14        #51
tygamann1 178 heat pts178
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 getGwap said
I feel you about the social aspect of it and if he is really aiming to revitalize impoverished communities that would be an interesting project to get behind. I guess my question would be is what is the difference between Jay Morrison & any other investor taking foreclosed properties bought on the courthouse steps cosmetically repairing them and then flipping them? is he going to only turn around and sell these properties to black people? and if so is he selling them not with a profit motive in mind? either he's making money and returns for investors which is what a reit is or he is out for the community and he is flipping houses out of the goodness of his heart he cant really do both


I guess my counter to that is if not him, then who? Not saying there's no one else qualified because of course there is...but are we going to shoot ourselves in our left foot to spite our right one?


I think the purpose of the crowd fund is to raise enough money to be able to buy buildings and set up infrastructure. Everyone has infrastructure...caucasian,asians, indians, spanish, etc., what do we have? Let us put on a jersey and some gloves first before we shoot holes in the ship.



But the plan is to buy SFHs, MFHs, apartment buildings, schools, municipalities, land, farm land, etc. I don't see selling as being apart of the gameplan...at least not for the next 5-10 years, I think the money will come from contracts, use of business space, and rents, and literally everything in between since the property will be owned...yeah there may be a huge sell here or there, but I doubt that is the strategy. I think Jay is approaching this with developer goggles on rather than rehabber/flipper goggles on

 1 year ago '09        #52
iAM2 2 heat pts
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i've been wondering 1 thing.. if i buy this how do i sell this if i want to exit?

 1 year ago '12        #53
frankieboyj26 1 heat pts
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 iAM2 said
i've been wondering 1 thing.. if i buy this how do i sell this if i want to exit?
good question lol

 1 year ago '14        #54
tygamann1 178 heat pts178
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 iAM2 said
i've been wondering 1 thing.. if i buy this how do i sell this if i want to exit?

They answered this question on one of the Q&A videos on YouTube

I forgot what they said and you can look it up, but it's a trust/llc...you can just sell your shares the same way you would sell it on the stock market...since it's a privately held company, you would just sell the shares privately...there's tons of trading between privately held corps, we just don't know about it


Now if you're asking about the structure rather than the application, then it's up to them. They can have their own IT platform or extranet, or they can simply add a feature to the site which allows investors to trade

 1 year ago '06        #55
DominicanLou 25 heat pts25
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i appreciate ALL the responses in this thread. thank yall


p.s. i didnt invest. I'm not well-versed in REITs and i didnt have the time to do due diligence. There's a land grab happening in LA, so I'm putting my money there (for the culture and for a*set building). Would love to see where Tulsa goes.
+1   

 1 year ago '04        #56
etchasketch 59 heat pts59
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 dasill said
Thats even worse , they took the name and arent even based out of tulsa. I know about bws if you live in oklahoma there isnt anyway that you dont know about it. It still sounds like genetrifaction to me.
Y'all hear about gentrification in the media and think it's a bad thing. Increasing property values, and increasing the taxes so the schools get better funding and the area is more desirable for people to want to do business and BE in the area is a good thing. Gentrifying your own neighborhoods for your people is a GREAT thing.

 1 year ago '04        #57
etchasketch 59 heat pts59
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 King Ryan said
Every dollar that we earn is significant we can't have that mindset if we are truly going to build wealth. Now asking for a minimum of 500 dollar seems like a scam to me, the stock market which is currently on a record 10 yr bull market is only giving in the range of 10% to 15% return on your money, what reasonable investor with intelligence is going to risk investing $500 dollars just to get back a measly $50 dollars. Now especially with the financial climate we are in real estate is a risky investment, the 10 yr treasury bond has eclipsed over 3.12%, that mean it is now more expensive for consumers to purchase mortgages cause the interest rate is now much higher than it has been in the previous years. Any investor who has done his/her due diligence would know that the American economy is heading for a recession, this is not the time to be investing in reit or the stock market, your best bet would to invest those $500 in a hedge fund or etf that shorts the stock market.
This is how I know you only read about financial markets and you don't actually invest. If you think the stock market is going to crash or there is a bear market looming, non luxury real estate is the PERFECT vehicle to invest your money.

 1 year ago '04        #58
etchasketch 59 heat pts59
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 getGwap said
Not saying its a finesse job or anything but it seems like he's crowdfunding flipping and charging the investors a 58% premium to do so. There is a reason they aren't using an exchange because they want to control the shares and nobody can Short the company (bet against the performance as a stock) which is the first thing I tried to do when it said they are going public june 1st they in essence control the share price and don't pay any fees to the exchanges for listing and also escape the possibility of investors betting against their company. 50 percent off the top plus a "management" fee just seems like a nice way of separating fools from their money once you buy in what does it look like if you want to take or track your "profit"
This upsets me so much about own people. Grant Cardone does this EXACT same thing and charges the same fees except with larger apartment complexes in B/B+ neighborhoods with accredited investors and nobody says a damn thing. The returns are incredible and everyone eats. A black man that has documented his intentions of buying back the black and empowering Africans in America by educating people on street corners all around the country and people think it's a scam.

Crabs in a barrel, man.

 1 year ago '07        #59
getGwap 
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 etchasketch said
This upsets me so much about own people. Grant Cardone does this EXACT same thing and charges the same fees except with larger apartment complexes in B/B+ neighborhoods with accredited investors and nobody says a damn thing. The returns are incredible and everyone eats. A black man that has documented his intentions of buying back the black and empowering Africans in America by educating people on street corners all around the country and people think it's a scam.

Crabs in a barrel, man.
Weak minded people looking for race in everything to justify stupidity. If grant cordone is doing the same thing I wouldn't invest in it neither. Any investment with no real way to measure what your return on investment is and nobody up to now has said how would cashing out look like is to be Leary of. If we are going to act like its an investment then there needs to be a clear way of tracking your return and also taking your money out. you're probably the same type of idiot who gave umar Johnson money to build a school. If we talking dollars and cents it has to make sense otherwise call it a charitable donation.

If you told me Thad Smith had an investment that you put money in and if you are looking for a return in the next hundred years then this investment may not be for you and there's is no way to track how your money is doing I would be Leary too


Last edited by getGwap; 06-06-2018 at 07:38 AM..

 1 year ago '04        #60
etchasketch 59 heat pts59
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 getGwap said
Weak minded people looking for race in everything to justify stupidity. If grant cordone is doing the same thing I wouldn't invest in it neither. Any investment with no real way to measure what your return on investment is and nobody up to now has said how would cashing out look like is to be Leary of. If we are going to act like its an investment then there needs to be a clear way of tracking your return and also taking your money out. you're probably the same type of idiot who gave umar Johnson money to build a school. If we talking dollars and cents it has to make sense otherwise call it a charitable donation.

If you told me Thad Smith had an investment that you put money in and if you are looking for a return in the next hundred years then this investment may not be for you and there's is no way to track how your money is doing I would be Leary too
Just say you don't understand real estate investing.

 1 year ago '07        #61
getGwap 
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 etchasketch said
Just say you don't understand real estate investing.
You're ridiculous I have a real estate license and have actually invested in actual real estate which is why I wouldn't blindly give my hard earned money to someone how hasn't articulated a clear way of what it will be used for how I can track it and what the method for me cashing out would look like just say you don't understand life and we can agree on something.

Reits which is what this is classified as has a public stock price which changes based on performance and pays out a dividend. This is not traded on an exchange so the share price of $50 is static. Google stock price apts that is a reit since its trading on an exchange unlike this shareholders can cash out whenever they want at the current price. This you buy for 50 dollars a share and hold until Morrison tells you not to or your share becomes worthless.

How is that school you and Umar Johnson building coming ya'll order any books yet.


Last edited by getGwap; 06-06-2018 at 07:53 AM..

 1 year ago '04        #62
etchasketch 59 heat pts59
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 getGwap said
You're ridiculous I have a real estate license and have actually invested in actual real estate which is why I wouldn't blindly give my hard earned money to someone how hasn't articulated a clear way of what it will be used for how I can track it and what the method for me cashing out would look like just say you don't understand life and we can agree on something.

Reits which is what this is classified as has a public stock price which changes based on performance and pays out a dividend. This is not traded on an exchange so the share price of $50 is static. Google stock price apts that is a reit since its trading on an exchange unlike this shareholders can cash out whenever they want at the current price. This you buy for 50 dollars a share and hold until Morrison tells you not to or your share becomes worthless.

How is that school you and Umar Johnson building coming ya'll order any books yet.
I don't f*ck with Umar. I own real estate. I invest in the market. I know people that own private conapnies. I also know that it isn't everybody's goal to be on an exchange. I'm the KING of bad analogies and I'm going to try and make one that I hope doesn't go over your head, but IPOing/being on an exahcnge is SOMETIMES like the person with Hermes/LV belt that needs you to see it.

It costs A LOT of money to be, and stay, on an exchange.

Also, Jay isn't talking about buying non income producing a*sets, so of course money is being made. I bought a property cash for $40k with tenants that pay rent every month, so even if I didn't advertise that I'm making money, you would infer that I'm making money right?

I'm not going to call you names because I don't know you and don't have anything against you, but I've been seeing Jay Morrison and following him on social media for around a year and a half and ALL HE DOES is talk about making money in real estate. Which is COMPLETELY different than Umar.

 1 year ago '07        #63
getGwap 
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 etchasketch said

Also, Jay isn't talking about buying non income producing a*sets, so of course money is being made. I bought a property cash for $40k with tenants that pay rent every month, so even if I didn't advertise that I'm making money, you would infer that I'm making money right?

I'm not going to call you names because I don't know you and don't have anything against you, but I've been seeing Jay Morrison and following him on social media for around a year and a half and ALL HE DOES is talk about making money in real estate. Which is COMPLETELY different than Umar.
Someone In this thread thought jay was going to buy and develops schools and libraries to better communities which are non income producing properties. Clearly there is a lot of confusion in what the mission is. If Morrison can articulate a clear vision for what the money is going to be used for and if I invest my hard earned money in it what is the process for cashing out and measuring what my roi will be I will take it seriously and give him a chance. Otherwise I and everyone here work too hard for their money to just give it to someone who says trust me we all gonna eat.
+1   

 1 year ago '07        #64
getGwap 
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 PaperBoy971 said
Some form of gentrification might be a necessary "evil" man. Not talking about race but socio economic class. How do you revive a neighborhood ? With new businesses. For those businesses to thrive you need households that have disposable income.
The difficult part is aiding low income households in climbing the ladder. But you're right, poor people can't stay together. That's how you end up with rundown PJs.



Honestly I feel like this isn't about getting a return on your money as much as it is about being a part of a collective effort to bring about change in impoverished communities. If they manage to build a couple of schools in Bmore or Detroit, maybe bring some life back in a few neighborhoods then I'll consider it a success.
What are they going to do with the money ?

 1 year ago '07        #65
getGwap 
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 etchasketch said
I don't f*ck with Umar. I own real estate. I invest in the market. I know people that own private conapnies. I also know that it isn't everybody's goal to be on an exchange. I'm the KING of bad analogies and I'm going to try and make one that I hope doesn't go over your head, but IPOing/being on an exahcnge is SOMETIMES like the person with Hermes/LV belt that needs you to see it.

It costs A LOT of money to be, and stay, on an exchange.

Also, Jay isn't talking about buying non income producing a*sets, so of course money is being made. I bought a property cash for $40k with tenants that pay rent every month, so even if I didn't advertise that I'm making money, you would infer that I'm making money right?

I'm not going to call you names because I don't know you and don't have anything against you, but I've been seeing Jay Morrison and following him on social media for around a year and a half and ALL HE DOES is talk about making money in real estate. Which is COMPLETELY different than Umar.
The umar analogy was more I'm going to give you very little detail trust me I will do the right thing with your money. You originally quoted me when I said I'm not going to call this a finesse job but I don't really understand based on the information given what is the plan for my money and how do I track my roi and or cash out

The reason investors like exchanges is because of liquidity albeit not all reits are listed on exchanges

As an investor I do my due delligence before investing in companies that have been around a hundred years I'm supposed to skip doing that here why?


Last edited by getGwap; 06-06-2018 at 08:32 AM..

 1 year ago '10        #66
PaperBoy971 
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 getGwap said
What are they going to do with the money ?
I don't know anything more than you do. Peep at 1:20.

I don't disagree with your attitude toward the project. To be honest I'm shocked to see how much capital they have raised already. I'm not an american so I don't plan on investing but I did some quick research anyway because I'm just that interested in black people's moves. Take a look at this video when you get a chance.


Dude raise some serious questions :
- why so much hype ? why is it presented like a music video ? why are they selling with no data ?
- concerns from the SEC
- why are they taking 50% when the investors take all the risks ?
- what's Morrison's background ? what about his crew ? resume ? credentials ?

And then he goes into the risk factors. Coming straight from the Tulsa Real Estate Fund. A few examples :
- "high debt levels could hinder our ability to make distributions and decrease the value of our investors’ investments"
- "you must rely on our revenues from operations and other sources of funding for distributions and withdrawal requests. These sources may not be sufficient to meet these obligations."
- "You will have limited control over changes in our policies and operations"
- "Our ability to make distributions to our Members is subject to fluctuations in our financial performance, operating results and capital improvement requirements"


I have never invested in a fund before so that might be standard but it still feels like they're saying "sh*t might happen". So am I sold ? Absolutely not and I agree with you, everybody has to research.

 1 year ago '14        #67
tygamann1 178 heat pts178
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who cutting onions

 1 year ago '14        #68
tygamann1 178 heat pts178
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Can we just stop replying to people who have nothing but speculation and negativity to add. Haven't we learned from this over the 100 of years? There's always going to be people who pose as inquisitive minds but in reality they want to undermine and poke holes at the movement

If you're not investing why do you care where other people's money goes

 1 year ago '14        #69
tygamann1 178 heat pts178
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There will even be people who come in here asking what's the purpose of buying an entire city if it's not going to bring them back a $15 dividend each quarter


We're clearly not all on the same wavelength, lets those others fall by the wayside and let them answer their own questions



"But but but why is he buying whole townships and schools and hospitals and libraries and constructive, valuable infrastructure that will build his community and also see a profit , how come he won't just invest in simple SFHs/MFHs and keep it at that, regardless if I see the same return or not "


that's exactly what some of you sound like

 1 year ago '14        #70
tygamann1 178 heat pts178
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Let's not even talk about the jobs that will be created by this whole initiative, or the money that will be circulating in and around this communities/properties...let's just focus on a measly $500 that would have been spent on weed, liquor, and fast food


Some of you man I swear...

 1 year ago '07        #71
getGwap 
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 PaperBoy971 said
I don't know anything more than you do. Peep at 1:20.


I don't disagree with your attitude toward the project. To be honest I'm shocked to see how much capital they have raised already. I'm not an american so I don't plan on investing but I did some quick research anyway because I'm just that interested in black people's moves. Take a look at this video when you get a chance.



Dude raise some serious questions :
- why so much hype ? why is it presented like a music video ? why are they selling with no data ?
- concerns from the SEC
- why are they taking 50% when the investors take all the risks ?
- what's Morrison's background ? what about his crew ? resume ? credentials ?

And then he goes into the risk factors. Coming straight from the Tulsa Real Estate Fund. A few examples :
- "high debt levels could hinder our ability to make distributions and decrease the value of our investors’ investments"
- "you must rely on our revenues from operations and other sources of funding for distributions and withdrawal requests. These sources may not be sufficient to meet these obligations."
- "You will have limited control over changes in our policies and operations"
- "Our ability to make distributions to our Members is subject to fluctuations in our financial performance, operating results and capital improvement requirements"


I have never invested in a fund before so that might be standard but it still feels like they're saying "sh*t might happen". So am I sold ? Absolutely not and I agree with you, everybody has to research.
good looks on the info a lot of people on here approaching investing like a hypeman instead of a financially responsible adult. you know what they say a fool and his money will soon part if you willing to throw away your hard earned money without asking basic questions god bless you there will always be someone who will take it off your hands.


Last edited by getGwap; 06-06-2018 at 02:58 PM..

 1 year ago '14        #72
tygamann1 178 heat pts178
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I guess all of these investors aren't financially responsible adults either

 1 year ago '06        #73
DominicanLou 25 heat pts25
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@ what is your response to what @ posted or even the Tone Talks video? Not asking in a jack a*s way, just sincerely would like to know your opinion. I'm literally asking for a friend whose fam jumped into this.


Last edited by DominicanLou; 06-08-2018 at 11:15 PM.. Reason: scoopity doop

 1 year ago '14        #74
tygamann1 178 heat pts178
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 DominicanLou said
@ what is your response to what @ posted or even the Tone Talks video? Not asking in a jack a*s way, just sincerely would like to know your opinion. I'm literally asking for a friend whose fam jumped into this.

 PaperBoy971 said
I don't know anything more than you do. Peep at 1:20.


I don't disagree with your attitude toward the project. To be honest I'm shocked to see how much capital they have raised already. I'm not an american so I don't plan on investing but I did some quick research anyway because I'm just that interested in black people's moves. Take a look at this video when you get a chance.
I think this is huge. I think you have to understand all of the gray area that comes with it. Look man, call it what you want, but a non-black/plighted person simply cannot see the full significance of this. It's like me monitoring an Armenian-ran/based fund and being confused as to why some of the money invested is going towards building homes from scratch for those who were victims to the genocide, or something of the sort. You catch my drift...if you're not totally "in" it or "from" it, you're only going to be cognizant of the stuff that affects your bottom line. Just like DJ Vlad, he isn't "from" it, so he can't comprehend the cultural significance of it, and since he can't, he can only really speak on/focus on the economical side of it. Problem with that is the cultural significance holds just as much weigh if it more than the return side of it. This is a fact.

If someone created a calculator to quantify cultural significance/intrinsic value, maybe some of these concerns will be lessened. But since there isn't one, you just have to go on what you know or have experienced.


Dude raise some serious questions :
- why so much hype ? why is it presented like a music video ? why are they selling with no data ?
My answer to this is why does it matter, and can people recognize when they're worried about he wrong things? First off, the cultural bias is in full effect with this one "music video", show me where it's presented like a music video, is it because they're black? This is why I said people are just monitoring it to see what we do with what we have, and then proceed to poke holes in it and can care less about the other factors.

I've seen billboards of famous realtors who have links on the BB to their commercials and other promo material. Since the guy on the BB wasn't of AA descent, does that make his promo not promoted like a music video? See where I'm getting at? People are worried about the wrong things. What about the message conveyed? Are people mad that the promo had a little bit of swag to it? That's who we are, who we have been...we're the innovators of the planet (all this new Tech/etc you see now is just recreations of what's been here forever but that's another thread).

I had to address the clear bias before I answered the question, but to answer it...we don't have a lot of investment vehicles like this, so how else should someone starting an investment vehicle from scratch promote it? Should they send out snail mail? Emails? Bandit signs on the side of the road? They promoted it on their Media pages ultra professionally. Can't see how someone is trying to poke holes at that but hey.

concerns from the SEC
- why are they taking 50% when the investors take all the risks ?
- what's Morrison's background ? what about his crew ? resume ? credentials
Didn't watch the video so can't speak on the concerns from the SEC, but the SEC gave them accreditation to officially run the REIT, clearly the logistics/structure of the REIT outweighed the concerns, and if not there would be no REIT. And even at that, the concerns could have been general concerns that the SEC typically has with investment vehicles like this.

Secondly, I've seen all kinds of financial structures in my line of work when it comes to how money inside of the trust is divvied up. I've seen cases where investors buy into a land trust straight cash up front, say $20k, the trust managers/owners go out and buy land and exploit tf out of conservation laws and get a huge fu*king valuation of their property bought, when they paid dimes on the dollar for it (I'm talking amounts where you would think this kind of investing will be the new gold rush) and then the investors only see a return in the form of a deduction on their tax return, which in most cases it takes a few years to recoup the cash they put out, while the trust owners are reporting 9 figures on their tax returns. TREF is taking all of the proceeds after 8%, and divvying it up between half for management (have you ever heard of overhead? With no overhead, there's no fund), and the rest for reinvesting back into the fund. If people were a bit more well versed in funds, you would see this is literally typical of most REITS. But again, people like to put us under a magnifying glass and poke holes, it is what it is man.

As for his team, there are IVY league educated attorneys, businessmen, CPAs, CFAs and managers. Their auditors are the #1 audit firm in the country for investments of this sort. It's not hard to do a quick search. Jay has been in real estate since like 07 and grossed his first million back in like 2012/13 , something like that. Has owned over 20 different types of businesses and is a celebrity realtor for all of these celebs we go crazy over. And this is in addition to all of the cultural stuff he is apart of and represents. Just do your research and these questions will go away.

And then he goes into the risk factors. Coming straight from the Tulsa Real Estate Fund. A few examples :
- "high debt levels could hinder our ability to make distributions and decrease the value of our investors’ investments"
- "you must rely on our revenues from operations and other sources of funding for distributions and withdrawal requests. These sources may not be sufficient to meet these obligations."
- "You will have limited control over changes in our policies and operations"
- "Our ability to make distributions to our Members is subject to fluctuations in our financial performance, operating results and capital improvement requirements"

The SEC requires you to file a form 10K stating all of your risk factors. This is normal af. More normal than the sun rising in the AM and falling in the PM. Snapchat listed a risk factor saying that if they lose a large portion their user base, they will struggle with operating in the black rather than the red (duh). sh*t, Amazon probably has a risk factor saying that if the price of merchandise rises in the Chinese market, they may experience a rapid rise in operating costs. Typical sh*t you're required to do to maintain your accreditation by the SEC man.

I have never invested in a fund before so that might be standard but it still feels like they're saying "sh*t might happen". So am I sold ? Absolutely not and I agree with you, everybody has to research.

I'm glad he ended it like this because everyone must do their research. What the fund is offering is ducking typical and then some. Only difference is the cultural side that most other funds don't have to consider because of their strong foundation.



The thing that upsets me is that people will let this kinda investing ride for anyone else without batting an eye, but once we do it, people feel the need to magnify it, monitor it, and poke holes at it, while other ones aren't even thought about in that manner.


And even in saying all of this, I can't even go all the way in depth like I want to because I'm not trying to write dissertations, but I hope you catch the drift of what I'm trying to convey.


Last edited by tygamann1; 06-09-2018 at 08:48 AM..

 1 year ago '14        #75
tygamann1 178 heat pts178
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5:05

Almost as if Jay was reading this thread himself





 


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