All Forum Posts by: Maurice Lightner

Looking to do a Fix n flip with two lifelong friends. I trust both of them and I’m an out of state investor. What steps should we take legally to make this an official partnership?

Looking to buy a multi property preferably a four-plex, but would consider a triplex or duplex in the South Florida area (Fort Lauderdale to Miami) 

So if I’m getting a lot size of 3200 square feet for $28K. Is that a good deal?

You really can’t stop anyone from investing in a public crowdfunding campaign, but you can hire only black people to work with/for you.

I do seem leery as a lot of their marketing seems to be hot button/key word centric for example “first black owned trust” “only $500 to invest” “Tulsa” Where are the plans as far as what properties they are looking to buy. Are they waiting to get the full $50 million then look?i need more transparency since they want to be 100% transparent.

Originally posted by @Cornel Smith:

Originally posted by @Maurice Lightner:

Jillian Sidoti how much are each of the founding members like Jay Morrison are investing?

 Believe jay said he put $10,000 into it (200 shares)

Yes he donated $10,000 and posted it in his IG account in the name of his Jay Morrison Academy. 

I’m going to pass because I’d rather invest in a deal like this when the project managers have more skin in the game. $10K when you are trying to raise $50 million is really not a lot when you think about it. 

Jillian Sidoti how much are each of the founding members like Jay Morrison are investing?

I’ve been researching syndication deals and came across this. 8% preffered isn’t a lot, but most syndication deals you make your money 5-10 years down the road when the property is sold, but their answers was very vague on this topic. 

I also thought it was illegal to advertise syndication deals and they are doing a lot of that. 

Hi, I’m new to the Bigger Pockets Forum so I apologize if I posted this incorrectly. 

I was wondering if anyone heard about the Tulsa Real Estate Fund spearheaded by Jay Morrison. 

He’s trying to raise $50 million in a syndication deal to develop properties in urban areas. The minimum investment is $500 and you do not have to be an accredited investment. 

Here is the link http://www.tulsarealestatefund.com/

I would love any thoughts about this deal. Good opportunity, stay away. Invest small, any insight would be nice. 

Thank you.