All Forum Posts by: Desirae Price

Hey there! Welcome to the Lone Star State. I am a wholesaler in Houston. I also have done 6 deals this year more as a credit partner. I like single families and small multifamily properties. 

Let's connect! 

@Lee Ripma Thank you for responding. The current market rent is $1500-$1750 for a house and my grandfather is paying $500. 

Hello BP, 

 I want to get feedback on whether what I’m thinking could actually happen and it still be a successful first deal. 

I have the opportunity to buy my neighbor’s house. My grandfather is actually renting it from him and they have given us first right of refusal to purchase the property. The house would be bought around 170k with comps around 400k. The house is very livable, clearly, if my grandfather lives there. That being said, I don’t need to rehab it immediately. I plan to just let my grandfather continue living his life there for an extremely below market rent. I could ask for more, but I feel that’s just not being a good granddaughter :)

Questions:

Would the strategy still work in this situation without renovating the property? 

Would the appraiser just got off the market value of 400k? 

Could I just purchase with a regular conventional loan if I don’t plan to renovate? 

Anything comment will help me understand this situation. Thank you!

Alot of people seem to get off the main point of how does this fund work and does it seem like a good deal. Some answered the question well, and others just provided their opinion on the subject based on things like the name. Who cares what they name it. What I care about is how they plan to spend the money and if they are actively buying this first year as they lock down. Everyone should do their research after reading this forum because some people's opinions are scare tactics. Just imagine if this works, America will change.

People of color have not been financially independent since our ancestors were forced over. This is an opportunity we have not seen since 1920. Although, there are not guarantees of dividends immediately, those who invest should have another mindset.  The mindset I refer to is seeing the future of black owned buildings and communities. As the Black Nation we are within the world's Top 20 richest Nations. With $1.9 trillion in buying power, we could afford to direct $50M to ACTUALLY building our communities back up. Stop doubting something God has been working on for years. And those who are on the fence, go pray (if you are a believer) and ask God for clarity on this subject. This is something that has been working and now has enter the realm of gaining the COLLECTIVE FAITH of the community it serves to manifest. That being said I am pledging $500 into this fund. 

To be super clear, this fund is open to ALL people and I doubt Jay Morrison would turn down other people's money. If you believe in the investment you should invest based on numbers or your faith in the project. 

Originally posted by @James Niemeyer:

Originally posted by @Ibrahim Hughes:

Originally posted by @James Niemeyer:

I think it's very disingenuous to name a fund after a place but not have ANY intention of investing in that place. To me that's just an attempt to capitalize on Tulsa's unfortunate history. 

Add in the obfuscation of the way the "manager" gets paid and I'm out. No way José are they getting a dime of this Tulsan's money.

I think you missed the cultural meaning behind the name 'Tulsa' (google 'Black Wallstreet'). The point is not to invest and rebuild Tulsa. The point is to rebuild what 'Black wallstreet' stood for. This can be done in any urban market throughout the US.

Having been here all my life, I'm well aware of Tulsa's history. I think YOU are missing the rich culture that Tulsa offers today. From the Reconciliation Park to the Jazz hall of fame. There are tangible examples of how Tulsa is much more than what happened in 1921.

Why not call the fund "Black Wallstreet" to more accurately reflect it's goals?

 It seems as though you are only upset because they do not have plans  (as of yet) to invest in Tulsa. Your opinion seems emotionally based. 

Hey Samuel! Welcome to BP! I am also a newbie out here but eager to get at it. I wish you all the luck.  Just go after it! Study some, but don't wait until you are completely comfortable to jump in. 

Welcome to BP my friend! Good luck in your city!

@Michael Pittman PVU!!!!  Hey im actually out in Houston already. I am attending a meet up on April 2! 

Thanks!

Greeting Everyone, My name is Desirae Price hailing from Houston Texas, by way of Austin Texas. I am excited to finally pursue my dream of REI! I went to school at PVAMU to study architecture. I currently work in corporate America, although I love it, I have the urge to start pursing my dream. I am looking forward to networking with each of y’all! BEWARE: Once we connect there is no stopping it! I hope to talk to y’all soon. See you on the forums!

Greetings everyone, Thanks so much for reading my post! I am a new real estate investor, something I’ve literally worked towards my whole life. I went to school at PVAMU and studied architecture. I have my M. Arch in the subject but now it’s time to start my real dream. I am looking to network and get to know those in the Houston Area. I am a go getter! Beware if you make contact, there’s no stopping it! Looking forward to chatting! Godspeed