First off this is NOT a REIT. It's like a REIT. REITs must pay out an amount equal to at least 90 percent of their
taxable income in the form of
dividends to
shareholders.
This is a crowd fund, more like a gofundme, he doesn't have to pay you anything and isn't required to keep any promise. This is basically donations in hopes of him gambling on a few properties, hopefully he can turn a profit, which can take years or decades.
This is a SCAM. I have a close friend that's a contractor that flips homes and commercial real estate. He told me it's rare to flip commercial real estate in less than a year. And he has a demolitian team and a band of renovators. Which Jay does not. Jay going into this almost blind, but he only using your money so he has nothing to lose.
This is the same basic model MLM and other scams use. Make you feel like a partner, when you're really just a CUSTOMER.
"You're only a customer, you're moving in the presents of HUSTLERS" -