Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Account Closed

Account Closed has started 4 posts and replied 21 times.

Post: Tulsa Real Estate Fund

Account ClosedPosted
  • Real Estate Agent
  • Atlanta, GA
  • Posts 24
  • Votes 10
Originally posted by @Michelle Powers:

I was under the impression that a grand jury is used for criminal indictments. The SEC only partners with the local District Attorney if they suspect criminal activity. Their attorney, Jilian,on another thread, stated she wasn't sure why they received the subpoena, that sounds odd to me coming from an attorney. Shouldn't she be Knowledgeable about the role of a grand jury?

 I think she was referring to not knowing the reason for the request of documents. Jay said he is not aware of the reason but they've complied. 

Post: Tulsa Real Estate Fund

Account ClosedPosted
  • Real Estate Agent
  • Atlanta, GA
  • Posts 24
  • Votes 10
Originally posted by @Maurice Lightner:

@Cimarron Carter a subpoena to request does not mean their guilty, I agree with that. The SEC have to do their due diligence. I honestly think the inquiry might have to do with all the publicity he has generated. I’m not even sure they will get arrested or shut down. From the beginning I was hesitant and skeptical and this supports my fears.

Did you invest?

 Yes sir.  I invested on day 1 into the fund. I trust Jay and the team will get the job done. Despite my trust, I could lose my initial investment. So I put in what I was comfortable with. 

I understand the skepticism. Don't invest in anything you aren't comfortable with!  

Post: Tulsa Real Estate Fund

Account ClosedPosted
  • Real Estate Agent
  • Atlanta, GA
  • Posts 24
  • Votes 10
Originally posted by @Maurice Lightner:

@Cimarron Carter they are supposed to conduct business as usual and deflect any attention away from them. Guilty people never admit their guilt. When I asked him about on Instagram he ignored it and he has always respond to my questions in the past.

My point was that if something was already known to the SEC and/or DA, they would have had them cease operations.  Why would they continue to allow someone guilty solicit funds and existing transactions to continue/close?  They'd still be raising capital right now if the annual filing was already done.  Jay not responding to you on Instagram isn't saying a whole lot, especially when he took the very same question several times on the Livestream.  He doesn't respond to most of his comments.

For now, we just have to wait and see what comes from it instead of speculating either way.

Also, they are not doing a second raise.  They are doing the annual filing.  I believe the information regarding the number of donors and money raised needed to be removed as there were discrepancies between what was actually sitting in the bank and how much capital was committed.  Jay mentioned this in August of 2018 and again recently.

Post: I am changing careers and stepping into the real estate business

Account ClosedPosted
  • Real Estate Agent
  • Atlanta, GA
  • Posts 24
  • Votes 10
Originally posted by @Christina Pona:

I am in the pre-licensing phase absolutely am curious as to if new realtors have a second job to bring in income since you are working for months without any pay 

 Many new real estate agents are part-time and still hold 1 or 2 jobs on the side of doing real estate.  I know a young lady who got licensed recently doing exactly that, but she plans to transition into a full time agent within the next year or so.

Post: Tulsa Real Estate Fund

Account ClosedPosted
  • Real Estate Agent
  • Atlanta, GA
  • Posts 24
  • Votes 10
Originally posted by @Bill F.:

@Nate Marshall 

Forgive me if it appears I have passed judgment, I have not. I am trying to learn more about Reg A offerings and, given your statements, you appear to have more knowledge than I.

You made an assertion that "The SEC issue is pretty much standard". By issue I assume you mean the subpoena. What information led you to make the claim that TREF being subpoenaed is part of a Reg A's normal course of business?

Additionally, if it is in fact a normal occurrence for Reg A offerings to be subpoenaed by the SEC, what about subpoenas issued by a grand jury? Where does that fall out on the spectrum of standard to unusual?

Finally, a federal grand jury and the SEC are neither TREF's "haters" nor are they "competitors". The former is a group of people empowered to conduct a legal proceeding and the latter is a regulator agency. 

I've heard from several investing friends that the current subpoena isn't a big deal.  They've also made it seem as if it's standard practice.  I haven't been able to find much online to confirm or deny that.  Jay was asked about it on the weekly Q&A sessions they host.  He basically said they've requested documents, they sent all the information over and are just waiting to hear back.

I am learning just as you are, but in my opinion it doesn't seem like a big deal.  Especially since they are still conducting business.  

Post: Tulsa Real Estate Fund

Account ClosedPosted
  • Real Estate Agent
  • Atlanta, GA
  • Posts 24
  • Votes 10
Originally posted by @Naomi Dodd:

@Maurice Lightner I agree with you regarding the 10K. I, unfortunately, was so excited about giving back to the community,  I did not do my full diligence in research. I did make the initial small investment. Thank you for posting this question though. Some people gave me some important future insights to keep in mind. The next time I want to make an investment, I will be reaching out to this group. 

 You'll be fine.  Jay and the team know what they are doing.

Post: Tulsa Real Estate Fund

Account ClosedPosted
  • Real Estate Agent
  • Atlanta, GA
  • Posts 24
  • Votes 10

Well said @Desirae Price.

@James Niemeyer, Jay will be in Tulsa this week for Juneteenth.  He will be hosting a corner class this Friday.  You should go meet and speak with him face to face.  He's a cool dude.

I've invested and I'm looking forward to how the fund turns out be it good or bad!  I've had the opportunity to meet Jay and the team here and I believe in their mission 100%.

Post: New to Atlanta and New to Investing!

Account ClosedPosted
  • Real Estate Agent
  • Atlanta, GA
  • Posts 24
  • Votes 10

Hello Ashley,

I'm moving up to the area in a few weeks myself.  Let's connect and see if we can do some business together.

Post: Moving to Atlanta!

Account ClosedPosted
  • Real Estate Agent
  • Atlanta, GA
  • Posts 24
  • Votes 10

Hello everyone!

I am a new investor who has been living in Florida all of his life.  Spent the last 6 years finishing school and starting a career in Orlando.  I am now beginning to make the transition to Atlanta for work which should take place over the next 1-2 months.  I've been trying to secure wholesale deals locally while also saving for a multi-family to house hack next year.  I have a few questions.

  • What are some of the best real estate groups to be apart of in and around Atlanta? Looks like Atlanta REIA is pretty popular.
  • Any particular areas I should be looking at for a good house hack?  I'm currently thinking Smyrna, Marietta, and various parts of NW Atlanta might be best for me.  I've seen a few properties in Austell, heard it isn't the greatest place to be.
  • *unrelated to real estate* But if anyone can suggest some good apartments or condos in Smyrna, i'd greatly appreciate that too :) 

I appreciate any tips or tricks about Atlanta you all could provide me with.  Hoping to learn the area before I get there so I can hit the ground running.  If anyone would like to potentially connect in person and do some business together, feel free to reach out!  

Post: Best FHA Lenders for House Hack

Account ClosedPosted
  • Real Estate Agent
  • Atlanta, GA
  • Posts 24
  • Votes 10

Hello everyone,

I'm looking at purchasing a MFH soon and i've begun the process of researching different lenders in the area.  As I bank with PNC, I started with them first, but they may not be the best fit for my needs. 

I'm just curious if anyone has had any experiences getting FHA Loans to House Hack on the Orlando forums and with who. Can be a local bank/credit union or one of the major players. Thanks!