Jay Morrison And The Tulsa Real Estate Fund Lost Money In 2019-UPDATE: NOW SHUT DOWN

[Atlrocafella]

All businesses face this kind of scrutiny from investors breh. The difference is most businesses know the kinds of questions that come and prepare for them. Public corporations literally have quarterly calls with shareholders where they answer questions and tell them what the plans for the business are going forward. They also have to disclose all the cash flow for the business. This is not unfair scrutiny because he is black.... this is standard practice in the business world. The fact that you think he's a victim shows you don't know what the hell you're talking about

I mean what are you saying? Should we just give him our money and not ask questions because he's black?

That’s exactly what he’s saying. fukk what he talking about. Question everything, black or not.

 

[☑︎#VoteDemocrat]

I've looked over his financials. He has a Nigerian as his Chief Investment Officer who also has no history of portfolio management, but like Jay, has an extensive criminal record.

Folks go to Ivy Leagues and put in years of work at the top Investment Management companies to learn and to build up a history for themselves of good returns.

Jay and the Naija have criminal records, no history of portfolio management, and start out the gate charging fees higher than portfolios with billions under management.

They just typical Atlanta finessers.

wait.

WHAT?!

 

[☑︎#VoteDemocrat]

I don’t get why certain segments of Black people are so ready to accept uncredentialed “bad actors”-he’s a felon and hs dropout on top of not having any relevant experience. How does this make sense?

When you have no heroes you look for them

 

[Booker T Garvey]

caller admits she fell for the okie doke

 

[☑︎#VoteDemocrat]

Black people are pretty inexperienced when it comes to investing.

So they simply don't know what they don't know.

They didn't know that you vette the credentials and history of a fund manager that you're choosing to give your money over to for management.

It would seem like common sense to any regular investor but Jay went after people who are not the typical investing demographic.

So it is what it is.

He spent most of his time fielding, in my mind, silly questions from these novice investors than actually spending time on looking for great investment picks for his portfolio.

the guy was charging people to live stream his wedding

 

[☑︎#VoteDemocrat]

 

[☑︎#VoteDemocrat]

Cant trust any nikka that uses black buzzwords to name their investment group or company etc.
Tulsa fund, marcus garvey harriet tubman martin luther king samuel l jackson chicken n waffles.

It’s clear its a marketing scheme and they are playing you off your emotions.

Tone Talks was breaking this down. It was incredibly disrespecful.

 

[invalid]

wait.

WHAT?!

Tosin Oduwole. He was actually the VP of Business Development. But he still racking up charges as we speak so I guess Jay must have recently parted ways with him.

In fact, most recent charges had him in jail at the beginning of the year.



But his criminal history goes back farther.

The operator of a Buckhead party house has pled guilty to charges associated with running events there illegally.

Olutosin “Tosin” Oduwole, who operates the house at 4499 Garmon Road on behalf of its owners, was charged with disorderly conduct, violating the city’s noise ordinance and two zoning violations in October after police were called to the home at one of the parties it hosted over the past two years.

Party houses are defined as homes used illegally for large-scale commercial events that often cause public safety and quality-of-life problems for metro Atlanta neighborhoods.

Tialer Maxwell, a spokeswoman for the Atlanta Municipal Court, said Oduwole went to trial on two Atlanta Department of Watershed Management charges he faced but pled guilty to the remaining charges Dec. 13. In an agreement made before Judge Christopher Portis, Oduwole will serve 30 days in the Atlanta Detention Center, plus six months of probation, and pay $7,500 in fines.

https://www.google.com/amp/s/www.md...1a0717b4-201b-11ea-95d1-3b0692e9c232.amp.html

They the typical Atlanta hustlers that front like they legit but be having criminal scamming histories up the wazoo.

 

[☑︎#VoteDemocrat]

Tosin Oduwole. He was actually the VP of Business Development. But he still racking up charges as we speak so I guess Jay must have recently parted ways with him.

In fact, most recent charges had him in jail at the beginning of the year.



But his criminal history goes back farther.



https://www.google.com/amp/s/www.md...1a0717b4-201b-11ea-95d1-3b0692e9c232.amp.html

how do you even get locked up on charges like that?!

 

[invalid]

how do you even get locked up on charges like that?!

I think initially he did some evasion. Didn't show up to his trials and a few other things. This wasn't his first rodeo causing issues at that Buckhead house.

 

[L&HH]

I know what reits are and the requirements, I was asking if this company is operating as one.

O sorry, it's kinda sorta a reit, it was created under the new law that allows crowdfunding, I'm not sure if it's legally a reit but it's operating like one

It's not a REIT. It's a crowdfunded investment fund. Funds like this were made legal in 2015 when Obama passed the JOBS ACT. Before the JOBS ACT if you wanted to publicly solicit people for an investment fund they could only be accredited investors. By law an accredited investor is someone who has made $200k ($300k for married couple) or more in income in the past two years and there's reasonable proof they'll make that or more in the present and future year(s) OR they have $1 million in net assets (their primary residence not included).

The JOBS ACT then made it so you could solicit anyone for these kinds of investments as long as they don't invest more than $2000 or 5% of their net worth in a 12 month period if they make less than $107k a year.

Operating at a loss isn’t a big deal per say.

It is when $1 million of that operating expense is salary and fees you're paying yourself and "team".

His wife has a $115k salary in the company and has no experience or nothing in investing, finance, accounting, or real estate. She's an aspiring actress and spoken word artist.

 

[invalid]

His wife has a $115k salary in the company and has no experience or nothing in investing, finance, accounting, or real estate. She's an aspiring actress and spoken word artist.

Bruh...

This is what happens when you have no oversight.

And the bad thing about it is, the business is not a scam but it's getting characterized that way because of his investment choices and them damn fees. If he had experienced people on his team, people that are fundamental to running any fund, an actual investment analyst (real estate), accountant, operations analyst, investor relations, it would have turned out vastly different for him.

It has to be stressful for him wearing all the hats with no experience in any of them. He's going to crash this thing into the ground.

 

[TheBigBopper]

Haven’t sat down and looked it over but they were investigated by the Securities and Exchange Commission (SEC ) and passed. As I understand it, the SEC is In place so certain financial documents are made public and they’re operating within certain guidelines.

Some of the people here and walking down the street don’t even file their taxes every yearlike that’s not a federal law to pay taxes. Couldn’t tell you the first thing about a P&L statement, balance sheet, etc. But wanna pull a on a brother. It’s sad, man

But want to talk down on a black man. It’s corny

I’d just encourage everyone to do your own research. In layman’s terms get off that man (and his company) dikk

This. Everything this man did was on the legal up and up, he just charged egregiously expensive fees and was a shytty investor. Ultimately, the onus is on the fund participants to read through the offering material and decide if the fund is worth buying.

 

[L&HH]

Bruh...

This is what happens when you have no oversight.

And the bad thing about it is, the business is not a scam but it's getting characterized that way because of his investment choices and them damn fees. If he had experienced people on his team, people that are fundamental to running any fund, an actual investment analyst (real estate), accountant, operations analyst, investor relations, it would have turned out vastly different for him.

It has to be stressful for him wearing all the hats with no experience in any of them. He's going to crash this thing into the ground.

It's already crashed. They're no longer accepting funds at the end of this month. And who knows what they'll pivot to next. The "What Happened to Common Sense" dude put it best. It wasn't a scam moreso a scheme. Everything he's done is legal and I do think he hoped to make people money but the likelihood of that happening was pretty slim. They were just going to make out on their fees/salary and they can also use the equity in the real estate they bought to then get decent deals for themselves

 

[Nigerianwonder]

This. Everything this man did was on the legal up and up, he just charged egregiously expensive fees and was a shytty investor. Ultimately, the onus is on the fund participants to read through the offering material and decide if the fund is worth buying.

Just cause its legal doesn't mean its not a scam. Legally a loan company based on a an Indian reservation can get away with charging you 300% interest. That's a scam. but its legal.