Jay Morrison & The Tulsa Real Estate Fund (Official Thread)

[Momentum]

June 2018 Tariq is defending dude that runs the IPO.....fast forward in a few months he's going to be apologizing about co-signing a scam artist

Tariq is in over his head with these gaming trolls. Last thing he needs is his name attached to a shaky at best investment like Tulsa.

 

[Momentum]

i deal with them
ive been investing since 2012
and my whole fam been involved in real estate for over 50 years
ive seen them get involved

stop being racist against your own people and assuming “im not in the financial space”.

Dude really believes its impossible to scam/not have investors best interests at hand just because the sec exists foh

jay got yall in your emotions

tulsa_1a.htm

 

[Silver Surfer]

stay away...this is a scheme to prey on the ignorant

 

[Blessings]

The biggest red flag to me is that every time someone asks questions on basic stuff that any investment sponsor should be able to answer they get immediately asked back "do you ask (X non-black business) this? THEY don't get all these questions so why are you asking them from your own brother?? get off the plantation!" Jay Morrison himself goes to this all over his Youtube page and IG:



here he is going off on a dude who brings up good points and then telling the dude to 'get out of (his) feelings' at 2:03:00



I fully support black folks getting our bread up as a collective but we have some serious studying to do as far as financial literacy. The fact that this got to millions of dollars in days is both encouraging (we are clearly willing to financially back projects that are for our benefit) and staggering (this project has flimsy at-best fundamentals obscured by pro-black emotionalism.)

dude would get washed in a debate....y'all hate on Brotha Polight but give this dude a pass

 

[Shoog Shatmi]

The biggest red flag to me is that every time someone asks questions on basic stuff that any investment sponsor should be able to answer they get immediately asked back "do you ask (X non-black business) this? THEY don't get all these questions so why are you asking them from your own brother?? get off the plantation!" Jay Morrison himself goes to this all over his Youtube page and IG:



here he is going off on a dude who brings up good points and then telling the dude to 'get out of (his) feelings' at 2:03:00



I fully support black folks getting our bread up as a collective but we have some serious studying to do as far as financial literacy. The fact that this got to millions of dollars in days is both encouraging (we are clearly willing to financially back projects that are for our benefit) and staggering (this project has flimsy at-best fundamentals obscured by pro-black emotionalism.)

I cant believe this dude really said that his fund has to charge above market fees because, as a black real estate fund, they have to account for the added security risk of their properties being burned down like the original Black Wall Street.



I've never invested in or studied funds like this so I dont how good or bad the fee structure is, but for the sponsor who is obviously a smart guy to be using low IQ arguments like this, I know to stay away from this shyt.

 

[Cynic]

Lol you got it bro. I see this debate is going nowhere. Yet again you have failed to address any of the points I have made.

I am out of my depth but you are struggling to realize that

- I didn’t compare a residential realtor to a REIT

- I only brought up Realtors because of what was stated in an earlier post outlining the expenses of the fund trying to justify the fee. This was done to show that Realtor commission on the buying end is not an expense to the fund because commissions are paid by the seller in GA.

- Tulsa has stated they are going to target residential properties as well as commercial properties. Therefore, common sense would lead us to believe that residential Realtors will play a part in all of this at some point.

I can only assume that you have taken a large portion of your savings and thrown it into this fund. So need for the back and forth. Just up this thread in a year when your $500 has magically turned into a small fortune and prove the doubters like me wrong.

As long as your point centers around residential real estate agents ... There's nothing to address.
So I haven't "failed" anything.

It's better to ask for clarity than assume. I actually threw a small 5 figure sum at it. If it goes belly up
then so be it- I've gambled/lost/made more than that in other companies so...

RELAX

Your doubt doesn't affect my portfolio/income/assets so why would I have to prove anything to you ?

 

[Arithmetic]

Alright, since we only believe what white people say...Here's a skeptical white person who actually runs a real estate crowdfund review website featured on several major white publications.

Here is one of the security filings lawyers for TREF chiming in on the subject.

Here's the white guy's response....

Source: https://www.biggerpockets.com/forums/92/topics/572086-tulsa-real-estate-fund?page=1

So what does this all mean....

The so called "fee schedule" she posted is from Madison Trust company which is a custodian for Self Directed IRAs. Let me repeat, self directed IRAs. Here is the ACTUAL company that your money is sent to once you invest. http://primetrust.com/crowdfunding.php.

If you read the comments, several people questioned the authenticity of this document. She later stated that she received this document from them in regards to rolling over her IRA. So it sounds like to me she may have an IRA with this particular or another company and they sent her the document for what her potential fees would be taking money out of her IRA. Her posts indicated that these would be the fees everyone would have to pay! Not once did she think to mention IRA in that comment until she was called out. Isn't this thread supposed to be where all the high level investors are?

As we saw with the back and forth between the filings attorney and CF Review guy, the management fee looks bad upfront, but compared to many other companies, 5.5% is fair. The dude himself said most that aren't even making a profit charge 5-8% annually just for property management. The 50% split again, is how the company will actually pay their employees as I stated earlier. Fundrise is consistently touted as having some of the lowest fees in this industry at 1% annually, yet anyone who has used or researched the platform can tell you there are several more fees you must dig deeper to find associated with having an account. Just do a quick Google search.

But hey, yall go ahead and run with the Instagram girl who posted up an IRA company's fee schedule . We'll revisit this in a year.

Good info.

Additional fees are unnecessary when you taking half.

 

[Conjiggle]

As long as your point centers around residential real estate agents ... There's nothing to address.
So I haven't "failed" anything.

It's better to ask for clarity than assume. I actually threw a small 5 figure sum at it. If it goes belly up
then so be it- I've gambled/lost/made more than that in other companies so...

RELAX

Your doubt doesn't affect my portfolio/income/assets so why would I have to prove anything to you ?

Go back and read my original post that referenced Realtors. Not once did I specify residential Realtors. It was a direct response to your initial statement about all of the people Jay would have to manage - including people that had to find properties and negotiate deals.... in other words, Realtors. Which is why I brought the discussion on how commissions are paid in GA... to show that there is no expense for the buyer in terms of commission.

You don’t have to prove anything to me at all. It’s a message board with a topic up for debate. I figured you would actually want to debate the topic. Bring actual counter arguments to what I stated. All I am getting is some random talk about residential Realtors. It’s boring now

 

[Paradise50]

I had something typed up but I decided to do a little investigating. This is not a company that I would ever consider investing in. Running an investment company is very difficult. When someone tries to convince you to invest, they need to cite and explain why they are the person to handle your money, When you listen to their videos, however, they talk not about there credibility as investors but rather about racism and how Black people lack power. This will not even make a dent in the current racial situation that African-Americans deal with. If you are genuinely interested in making don't invest in this company. If you want to take a flyer on a Black owned company that might do a little good in the world invest.

I went and looked at everyone's linkedin who's listed as an employee of the company. Several of them have there own personal companies that they are running. Normal real estate investments funds don't have that. The guy running the fund is a college dropout and the number 2 took 6 years to graduate from undergrad. Does this mean they can't run a well functioning and efficient company? No. But it does mean that skepticism is justified. The easiest part of running a company is the face you present to the public. Confidence is easy to fake. Put on a nice suit. Practice your lines, and you'll appear competent. The heard part is actually running a company. Day to day. Week to week. Month to month. None of these people have ever done this before...

Here's a rule of thumb. If someone tells you to invest in something or to give them money and they start talking about racism and Black power run. But if someone comes at you and purely talks about the actual industry that the company is based in and why they are equipped to be successful then invest.

dapped.

I can respect an objective response like this.

 

[Paradise50]

I wouldn't call it a scam and wish breh the best i hope he succeeds. However i am more pessimistic about this. From a marketing standpoint he's playing with emotions and that's never good when people invest. You want to keep emotions out of investing. Secondly, why wasn't this done before? The perfect opportunity would have been 10-12 years ago. Not that there isn't time, i still believe there's a window left before the bubble bursts but profits won't be maximized.

I def think the timing is off like a motherfukker

I truly believe a recession is hitting in 2 years. It might not be as bad as folks predict but a recession will be in progress during that election year. I'm sitting and waiting to invest in something then

 

[Donald J Trump]

seeing folks in here that were enthusiastic bout other scams posted on thecoli further lets me know...

stay away...this is a scheme to prey on the ignorant

you see it too huh

I cant believe this dude really said that his fund has to charge above market fees because, as a black real estate fund, they have to account for the added security risk of their properties being burned down like the original Black Wall Street.



I've never invested in or studied funds like this so I dont how good or bad the fee structure is, but for the sponsor who is obviously a smart guy to be using low IQ arguments like this, I know to stay away from this shyt.

there you have it
dude literally said in an interview he wanted to be the plug

imagine buffett saying that shyt
berkshire hath shares would plummet to 100,000

 

[VladTheImpaler]

I def think the timing is off like a motherfukker

I truly believe a recession is hitting in 2 years. It might not be as bad as folks predict but a recession will be in progress during that election year. I'm sitting and waiting to invest in something then

with this logic you will never invest....and that is ok...investing is not for everyone.

markets always have ups and downs..... but do you

 

[Donald J Trump]

with this logic you will never invest....and that is ok...investing is not for everyone.

markets always have ups and d..... but do you

no hes right

i wouldnt buy a house in this bubble, and a recession with trumps policies is def coming soon
so why would i invest in tref with inept management

you buy low sell high
why buy now when i know i can buy lower in 1-2 years

 

[Fani Willis fan]

seeing folks in here that were enthusiastic bout other scams posted on thecoli further lets me know...

you see it too huh

there you have it
dude literally said in an interview he wanted to be the plug

imagine buffett saying that shyt
berkshire hath shares would plummet to 100,000

Do people know Jay is an ex-drug dealer ?

 

[VladTheImpaler]

Do people know Jay is an ex-drug dealer ?

Yes but he doesn't stop there, he shows his old photos and also tells his # when he was in the big house.