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

Yinny

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Bunchy Carter said:
as you should....stop being a hater bytch lol
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It's alarming how many charlatans this community falls for under the guise of what I call "real nygga 180" aka ex-con doing better in this case

A mildly cursory read into the financials by a non-dummy would see why this model is 1) not a REIT - the traditional vehicle by which you gain returns on real estate investments managed by someone else, and 2) is a problem but I simply want people to enjoy their uh, "decisions."

Buy Black y'all woot woot :mjgrin:


hatehatehate :lolbron:
 
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Dorian Gray said:
I just partially watched these two videos and I commend this brother, as a fellow CPA, because he's doing good work.
However, his analysis of Tulsa is not all the way on point (I only watched about three quarters of the first video).
To his credit, in the second video, when he his critiquing the CPA that put out that info on how to write off the G Wagon, he makes a good point on how CPA's specialize in different things. Some in tax, some in financial analysis, some in audit, some in bookkeeping, some in cost, and so on.
It's apparent that his specialization is in tax and personal financial planning. It's also apparent that his specialization isn't in investment financial analysis or audit.
I launched my own professional career in audit, investment analysis, and financial reporting of investment management and hedge funds so I have a bit more knowledge with respect to investment funds and how they operate.

First thing he says, that is not wholly inaccurate is that Jay paid himself around $1.7 million from the fund. He took this by looking at the marketing and admin fees line item on the income statement.

Jay actually paid himself more. Pocket watchers didn't include the management fees which was another whopping $500k.

Fund managers pay themselves from management fees. But since Jay has no staff, he's also paying himself for other roles (that he's not doing btw) and so the total amount he's actually paying himself is $2.3 million.

Also Pocket Watchers is also using the language that the fund lost money. The fund had an operating loss, which is correct, but it is not indicative of whether the fund lost it's investors money. I don't like that language because Pocket Watchers is not looking at the broader picture with respect to gain on the real estate investment, which comes in the form of appreciation, which is found on the balance sheet. From what I've seen of the video, Pocket watchers didn't do an analysis of the balance sheet which is where you will find gain on the property held for investment.

I broke this down further in the post above this and in the quoted post below from the analysis that I did in one of the other threads.



Although, I don't work in an accounting function much these days, this guy pocket watcher, has opened my eyes.
If I was a slimey m'fer, I could EAT off of LLC twitter and all the scamming that has been happening in the black community the past few years.
I'm talking about finessing the fukk off of these scammers like the CPA he highlighted in his second video.

EAT ya hear me !!
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This is an amazing post
 
Bunchy Carter

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Yinny said:
It's alarming how many charlatans this community falls for under the guise of what I call "real nygga 180" aka ex-con doing better in this case

A mildly cursory read into the financials by a non-dummy would see why this model is 1) not a REIT - the traditional vehicle by which you gain returns on real estate investments managed by someone else, and 2) is a problem but I simply want people to enjoy their uh, "decisions."

Buy Black y'all woot woot :mjgrin:


hatehatehate :lolbron:
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If Jay Morrison is scamming the community as you nikkas always say, why did the white man aka the SEC and the DOJ say he is doing nothing wrong?

Wouldn't they want to hammer this "scammer" to set an example to Black People that you should only trust the White Man with your money?:ohhh:
 
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I

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Just talked to my brother who works in Real Estate in Atlanta. He said Jay Morrison’s rep is imploding now because another one of his business associates just came out against Morrison. I asked who it was, he didn’t know, but he said the guy just came out like within the past day. Did some research, found this guy Isaac Grace. Don’t know anything about him..

 
Amestafuu (Emeritus)

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Atlrocafella said:
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Jay’s former protege now going at him :mjlol:
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alarms was raised from day one they said people were hating :yeshrug:

you shouldn't be able to solicit funds form anyone without a viable business plan while calling something an investment.
 
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