All right, guys, welcome back, e y L.
Atlanta edition very very special, very special for us for a couple of different reasons. We're gonna get into it. Before we start, we got some exciting news.
You know.
We've been traveling around the country. We do our network meeting greets, just going to our biggest markets.
And we went.
We started in La and we went That was crazy. La was the first one. Then we went to Brooklyn. Brooklyn was crazy. There were so many people it was actually dispilled down into the streets.
It's still talking about it.
Yeah, shout out to VK for shure us a fact. And then we went to Atlanta. We was in Atlanta, we had four hundred and fifty people come out. And then Houston was the biggest one so far. So Chicago. By the time you hear this, it's going to be two days. But yeah, two days September twenty six, we'll coming to Chicago. So it's free network meet and greet. The purpose of the network meeting greet is not a seminar, it's not a workshop. It is for you to network
with each other. Most importantly, you gonna meet us. We're gonna bring some of our guests, but you never know who might be your business partner, who might be you know, somebody that you can do real estate with. And these are the things that we need to do more of. Is is networking and really building. So we mix it with with with a whole different type of vibe because you know, we're not traditional business podcast, so it's like a party but productive tendency to.
People show up with shirts and times and they look at us like T shirt.
Yeah we're coming, We're coming a T shirt. You know, by the end of night, you're gonna have a couple of drinks and you're gonna have some good food and it's gonna be who vib So, yeah, Chicago. This is my first time going to Chicago, so I'm looking forward to it. So make sure y'all check us out, man for sure, for sure. And then we have our workshop
that we are launching as well. So as you know, Eyo, every single week we bring a different professional win and they give us free gyms and free game and we really appreciate that. So we wanted to build an extended platform off of that, so we launching our Workshop series and that's going to be live in New York City. Once a month, and we also want to live streaming as well for anybody anywhere in the world. So the first one is going to be for first time real
estate investors. We're gonna go with some hard money loan tactics, things of that nature with our guy MG, the mortgage guy. So yes, make sure that y'all register for that. That's only events table on website as well.
We're looking forward to this.
So people always asking when we're coming back to New York, New York, this is for you.
And we never left to create Thank you when you're coming back to New York. We never left New York. We live in New York. But this is this is for New York for sure, but it's for not just New York. It's for the whole world.
So make sure everybody.
So all right, we got that out the way, So we have to welcome our esteemed guests. Mister J Morrison, thank you for for you. Yeah, so I gotta get a backstory on this, so you know, we have we try to bring people from all walks of life and all industries and you know, the number one person that everybody has been requesting for months.
Now is yeah, but they get aggressive they're like, if you're really serious, get t like reach out to So it's like, all right, man, y'all can stop asking.
We got them.
So if you don't know legendary real estate investor, social activists as well, yeah, thank you for all of the work that you're doing that and for your advocacy. But yeah, just really dynamic guy. He's wrote books, he's he's done lectures, he's real estate developer. He's actually the CEO of the Tulsa Real Estate Fund, which is the first black real estate crowdfunding equity crowdfunding fund?
Is that correct in history?
In history? So yeah, we're gonna were gonna go over all of that.
But you know, he has a very extensive, very impressive resume, and anybody in the financial literacy circle, especially in our community, you know that he's been a leader four years before a lot of us was involved in social media. I'm a financial advis I just got in social media a couple of years ago, but I saw you before I got involved. So he's definitely been a trailblazer, somebody that we we've all acknowledged as a leader and then trailblazer.
So first and foremost, thank you, Thank you for rocking with us, Thank you for joining.
Us pleasures, thank you for having me appreciate it.
Yeah, for sure, so were gonna jump right into it. So when I first heard about you, it was years ago, and you was a realtor, right, and I guess like a celebrity reltor because I saw you on TV. So we all know your story about you. Know, you was in the streets and you got incarcerated. What made you get into being a realtor first and foremost? And from there how did you transition to actually being an investor?
Well, actually I started as an investor first before a realtor, right. So when I left the streets in two thousand and five, I left South tenth in Springfield. I ave in Nork, New Jersey after a ten year dope boy career. When I left the streets, one of the first things I did is I want to acquire a single family home
from a tax lane and foreclosure situation. My mom had helped her out of that situation, and we I had built my credit over the years because I learned about building credit and mortgages while I was on parole at twenty two years old in Plainfield, New Jersey. And so by the time I was twenty five years old, and I was ready to retire the dope game and do something different and productive with my life and stop and
beat the trap. So I had already purchased a home under my name for my mom because my credit was better than hers. She was facing the foreclosure. And then I went and got my own duplex, my own two family with four acres in land one hundred percent financing. And at that time, and so, as I purchased that property, and I saw the commissions that the realtor made. The realtor made thirteen thousand. He showed me the property twice, I'm like, bro, that thirteen rescued in mind. I can
do what he did. You know what I'm saying.
I knew at that time I planned on buying more properties.
So I'm like, I'm gonna be on this path as an investor in landlord, buying more properties than I need to be in a position to get my get that other check too. And so I went and got my real estate license at that time. And then as I'm going to buy more properties, I also got my mortgage license at that time. So I was a loan officer. I was a realtor, and I was an investor, landlord,
and developer breaking into the game. That's where I started the brand mister real Estate back then in like two thousand and five, two thousand and six.
And so you went from one medium to the next, right, and what what triggered you said to say, like this is the way I'm going to go, Like I'm going into real estate.
I mean, for me, it was a couple of things. One, you know, when I was in the streets my you know, I started selling drugs at fifteen years old. My whole family sold drugs, you know. I mean, my grandfather's so dope, my uncle so adope, my mom's so dope. Like that was just our family trade. And that was a norm
for me. And when I was hustling through my teens, and I got locked up at eighteen years old in New York on riverside driving Harlem, facing three years of life in prison for a quarter key, little coke and a loaded handgun. Did a one to three in New York, went upstate cutting down trees for thirteen cents a day, came home on work release in Harlem, a Lincoln work
release by Central Park. Went right back to the game like a month later, like I like, I'll get myself two months off some coming home, give myself two months of freedom, and then I'm all right. Listen, just listen. I came home November third and nineteen ninety nine. I got backtrapping January nineteenth of two thousand. I remember the date, wow, and got right back at it and tore it up.
But then I caught another charge less than a year later, a drug trafficking charge in Maryland in a secret indictment in New Jersey. Ended up beating part of that because the cops illegally searched my vehicle. Still did prison time about eighteen months between Maryland and New Jersey. Came home from that on intense supervision parole where I had to have this men's group meeting where I learned about mortgages. Okay, still, after I learned about that, I went back to trapping
for a few more years. Old, had to stop hard, get rich, you don't trying, and so through all that, my family would be like, hey, Jay, you know my you know, my my daughter was born while I was in prison. My daughter's twenty years old. Now she goes one of the top twenty colleges in the country. She's the first black woman president of her sorority. Like she's phenomenal. But she was born while I was in prison, and
my first time seeing her was on a visiting room floor. Wow, my daughter slept with me in trap houses like bagging up, you know. And now she's on to where she's at. But her mother used to say, you know, why can't you stop selling drugs? And it would literally my family would cry to try to get me to stop. And I said, well, when y'all showed me something where I can make the money i'm making now right, live the.
Lifestyle that I want to live and feed my family.
If y'all showed me that hustle, I'm in until then, shut the fuck up, right, And so don't tell me to stop doing something. You're not giving me another way or another route. I'm not getting a job like that's out, like it's not even happening, so you know what I mean. So anyway, real estate, as I saw the checks that were being made. So when I closed that first two family, I saw the owner of that he owned it for maybe like seven or eight or nine years, but he
made a hundred racks. I'm like, wait, he just owned this shit for a few years, got some rental income and cashed out a hunting on me, Like I bought it from him the realtor mad thirteen, He made a hundred, But I'm the one that went here and financed it. And I was like, you know what, this is all right? And then when I bought my mom out of that foreclosure, I helped my mom buy this house FHA financing in ninety nine. When I came home, I gave my mom
three grand. She bought a house and someone going to Jersey for one hundred thousand dollars. Three years later the house would have been value one hundred thousand dollars. So when I cut cleared out her foreclosure she was in. We end up selling it and cashing out. Like ninety nine, my mom gave me thirty three thousand just for helping her with a ten grand. Actually yeah, And so I took the thirty three thousand and went about, you know, a bird with it and go back in the streets.
But my point is I saw that real estate was lucrative, right. So to answer your question, and this long round of way that was what got me into it. Was like Okay, this real estate thing had some viability here to be my new hustle. And as I was approaching twenty five years old and I'm trapping the North, and I had another close call with the Feds and some other shit, and also I'm like, yo, this is like when I'm thirty.
I couldn't see myself being free or alive at thirty.
Like I literally t how to picture myself approaching twenty five years old where I was gonna be when I was thirty on, all I could imagine was dead or in jail. I couldn't even see myself balling or knew, you know what I mean. I didn't even see a victory for myself. So I was like, if I can't picture myself winning, I can't continue this this hustle. And so I literally broke my trap flo and I quit like that that day, I thought about the shit. Shit
didn't make sense no more. And I literally had cold turkey, I had work left and everything gave it to my man like, yo, I'm out.
I mean you have the date in your head, so it's like that that meant something.
Like yeah, like I'm out. And so I was like, you know, because I challenged myself. I said, you know, a drug dealer can only sell drugs a true hustle, hustle of anything.
And I'm like, yo, am I a drug dealer? Or am I really a hustler?
And I was like, so, what would happen if I took all I bro, I grind, I get busy, like my energy, your level is always high. So I'm like, what would happen if I took the same energy twenty four hour ships from the block, the same energy taking trips, you know, all that trips in Nebraska, Maryland I'm talking about'm bro, I'm tearing the highways, up streets, up planes, up trains, all that. I said, what if I took
the same innovation, same energy. I'm breaking down work and I'm making pressing machines at welding shops, all type of shit.
Bro, Like I'm nuts.
So I was like, if I.
Take this same innovation and energy, the same charisma and swag, and I put it into the real estate industry, what would happen full time with my full effort, the full court press. And so I said, well, if I'm truly a hustle, let me go see. And that's when I you know, cold Turkey dropped the drug game, got into the real estate game. Started as that landlord, got my real estate license, my mortgage license, end up making my first million and three years in real estate.
But so how did you scale?
Okay, so that everybody's in real estate, right and there's a lot of real estate agents and realtors mortgage brokers. So all right, you're coming off the streets with no formal education none. You got it from high school?
I did.
I dropped out of high school eleventh grade and then I went back to the TOPS program for alternative kids, and I graduated from a vocational school.
Yeah, okay, all right, so you have that, but you know, really no other formal education. So how do you go from being an ex drug dealer to being a celebrity realtor? Like, you know, I'm assuming you was like in the top ten percent, five percent whatever relator is to you know, whatever, How do you how does that happen?
Like? I actually brought my office's highest listing in Fort Lee office, ten million dollars listing from Alpine. It was the highest office listing in my office. I was the first African man in America hired by prominent properties so that he's international realty in all prominent properties.
But so how did that happen for you?
For your relators that are still realtors themselves, Like how trying to like break through the cause it's a lot of them.
So like it's the same in tangible skills brought on matter for it's realtor selling shirts, selling hot throw, selling drug it's the same thing is that I went and found to connect like I'm intentional. When I was a real estate agent and I started off with Keller Williams and being a regular residential agent, and you know, I went through that phase for a few years and then you know, I started actually managing two mortgage companies. As I worked my way up from a loan officer, I
just golfed the business. But as I got kind of tired aboard and there's another long story within that which I'll save us. But when I got to the point where I was like, you know what, this ain't really sexy, This ain't really my swag used to be a real estate agent, Like that's just not like this. It ain't really cool to me.
So I was like myster reality, like you know what I'm saying.
So I'm like, you know what, though, I see these guys on TV doing the high end houses, the million dollar listers and all of that, I'm like.
You know what I could dig that, I could get flying, you know, I mean the million dollar lister and MultiMate die houses.
So what I did was I googled richest town to New Jersey. Simple, I said, I want to sell high in houses. I want to be a luxury real estate agent. So where the fuck the luxury real estate properties at? So I googled richest town to New Jersey. Alpine, New Jersey came up. I went and took nine interviews in two days in Alpine. And then as I'm up in Alpine seeing all these multi million dollar houses, I see all these blue signs in front of these the biggest houses,
and I couldn't even pronounce souther Bees. I know what the fuck that ship was. It was like I did know how to pronounce it. But I'm like, all right, this they winning? Like this other Beast is this blue sign with this s O T H E B Y
whatever have you say? That they winning? And so I rode past the Southern Beast branch office in Alpine, and then I walked into the office, and after meeting with a White kerd and Carwell banker and a few other agents branches up there, and the manager of the office, she just fell in love with me and he was married. She just fell in love with me. Was like, oh
my god, you're so handsome, You're so that there. I told her my story, I told her everything, the felonies, where I come from, the whole thing, and she was just like, that's so awesome.
Around.
I love you.
So she she talked to the CEO of the company and we had a meeting with them, and I went to the you know, other branch and bro they hired me.
So where is there a specific listing that changed the game for you from that being at that physician.
Yeah, I mean, I don't think it was so much of a specific listing. What changed the game for me was Southernby's had great branding.
Can you explain what somether BEA's is because I'm gonna ask you a question about them, but a lot of people might not know who that actually is.
Yeah. So Southeby's International Realty, Well, Southbea't as a company. They function in luxury assets period, so they're mainly an art in the art world, the art, diamonds, and high end real estate. So Southern Beasts throughout the world is known really for their art auctions, for their the diamonds and jewelry, and for their high end luxury real estate,
and so that was attractive to me. And so anyway, being at Southerby's, I learned so much about a different level of business infrastructure and a different level of branding and marketing, right, and that's what really changed the game for me. Well, my brand's so like dope, now, you know what I mean. It's like I really saw how they package things and and really you know, higher level and and the owner's sun and I don't.
Big Actually, I don't really have a grudge with other bees.
They asked me to resign, and I get to that story later, but it actually propelled my whole career. So I actually appreciate the blessing and asked me to resign because of my vocalness about being a spokesperson in the black community and it didn't match their brand. But nevertheless, the owner's son, Michael Oppler, he challenged me as I was new in the business and said, okay, listen, you were mister real estate in Central Jersey. You know, it was cool. You were the guy in urban America, but
up here don't fly. And he was like, you know, why would someone trust you with their multi million dollar house. What's different from you than all these other agents who live here, who come from here, who don't look like you. You know, what's your why?
Why do you want to be here and why do you want to do real estate?
And he sent me a video from some guy on YouTube and some small crowd and the videos like find your wire or whatever, and I watched it and it really touched me and they made me think about So they challenged me to bring them a business plan of my why and what I was going to do different as souther Bees if they were to, you know, get behind me. And so I said, my why why I'm excited about real estate is because the way real estate
changed my life. And I want to bridge the gap between real estate and pop culture meaning our culture right, pop culture right?
And so I made this business plan deck. I still have it in my email.
It had Jay Z and Beyonce on the front and it was like bridging the gap between real estate and pop culture. And I gave him my business plan of how I was going to impact pop culture and put everybody on the real estate. It had everything from teaching the high schools, teaching in colleges, doing celebrity events, to open houses, to all these creative things that I literally
do now today. But that was my why, and so I had the opportunity through one of my friends at the time who was promoting me and supporting me.
She was just googling and researching online.
Different networks that had opportunities for realtors, and NBC was looking for a realtor for their show Open House NYC. And I happened to have a client at the time, Mohamed Wilkerson Shout the mo and they were doing their Super Bowl edition. So when we hit them, we said, listen, I got an NFL client. You know former Jets, Yeah, former Jets player. Yeah, I have an NFL client. And they were like, oh, perfect, can we bring him on for NBC? So I hit him up be like yeah.
So I went and showed him too high end properties on NBC and then NBC hit me back like, hey, this is the highest ratings that we had all year, Like you know what I mean. We loved doing the show. You're so natural can you do anymore? I'm like, all right, cool. So then I started taking other clients Angelaouee, Bobby and the twins from the forty to forty Club. It was
my bros. I forgot their name, my bad, But anyway, I was taking different people I knew on my network on NBC, right, and so I brought that value to Southern Beast as well. So now I'm on NBC representing southerbas in front of two to three million viewers every week, right as I was featuring and obviously lifting my brand at the same time. But during that time, I didn't lose track of my why my wife was a bridge
gap between real estate and pop culture. So I also was teaching or going to inner city schools, and I started a program called hip Hop to Homeowners where I was teaching inner city kids about real estate, mortgages, credit and all that. And I did it through a So I was thinking, like, Okay, if I want to bridge the gap between real estate and pop culture, it's cool to teach us, oh hez, but what about the youth who could have got this game earlier and been way
ahead of the game than us. So I was like, well, if I was seventeen. How the hell would I want to learn real estate? I want want anybody coming and give me some boring lectures talk about real estate. So I was like, you know what, let's bring some music in some giveaways, right, And so I put together a program like in one week on my iPad and my crib, just put together little keynote, my first little keynote ever made in my iPad presentation. And I just that was
in January and then February. I actually actually January, I started calling cold calling school saying, hey, listen, I'm a celebrity realtor. I want to teach this game to kids in your school. I went to Carter At High School in the Jersey Malcolm iciha Baz and Nork Central High School in Nork where the Honorable Mayor ros Baraka of
Nork he once was a principal there. He was a principle when I did in school and just thirty I did thirty schools in one year where I was teaching using DJ Litle, a man of other DJs, rock Away a sponsored that giving us giveaways and I was just teaching kids about financial literacy and real estate and his creative ass assembly and he was really getting it though, like four hundred and fifty kids, six hundred kids, eight hundred kids, inner city kids who were learning the definition
of credit, who were learning mortgage right and you know all that and so all that again just wound up into my why. And what I did uniquely at souther Bees was that so you asked me about a listing, and it wasn't a listing that set me off. Now, I did bring in a high end listing. I beat this guy down and brought a timion dollar listing and had you know, other real estate activity going on. But
my focus, I realized, wasn't the real estate. And Southern Bees realized that too, like, hey, you know what, you're not really focusing on real estate.
But I was focusing on the why you told me to find.
You know what I'm saying. My why wasn't just the list high in houses. My why was the impact of culture. And so Southern Beason and I had a brand clash. And when I dropped my wake up video on World Star telling the community to wake the fuck up and get our stuff together, Uh, that's when you know, after a few conversations, the CEO was like, yo, you know, saw a nine minute video of you've been a spokesman for the black community and although you're comfortable with that,
I am not ask you to resign. And I was like, all right.
Cool.
At that time, Callwell Banker had asked me to be a brand ambassador for them for North America. They want to be their brand abassador for North America of Callwell Banker. So we had those conversations. I went over to Colworld Banker. That didn't work out, and I was like, you know what, I think I'm done with this realtor thing. I think it's time for me to really pursue what I really
want to do. And I also realized while showing a lot of NFL guys and NBA guys houses and all that kind of stuff, I'm like, wait, bro, I just showed you thirteen houses. I'm a great consultant. I asked you every question first, so I knew exactly what you wanted. I gave you everything you wanted. You brought your girls, she liked it. Then you had to follow your mother in law in and then she didn't like you to
go back to the drawing board and another one. So I'm like, wait, I just spent like three days in my life showing you houses and hopes to get a commission all for you to say, you know what, bro, I don't wait till after the season.
I'm good.
I was like, you know what, this is not the best opportunity to call some time. I was like, I know how to invest, I know how to get real estate money. Why would I spend time showing you forty houses to hopefully get a commissioned? And I say that at the same time to go get a fix and flip with development a lot myself and go make even more money. And so it just dawned on me that what I wanted to do I was going about it backwards.
It was a great entry going as a realtor, but it's not I didn't want to be a celebrity realtor and that's how I came and built part of my brand. But it was like, no, I mean, I'm a developer, I'm a hustler, I'm a builder, I'm you know what I mean? Like, I'm not just that, And so I segued in into focusing back on my real estate investment company.
I then launched to J Morrison Academy in January of twenty fourteen and got into full blown education, put our curriculum together and all that other times.
So the root of the Jay Morrison Academy that was based off the programs you were doing in the city's schools.
In Newark, New Jersey.
Yeah, so that was like so actually the root of Jay Morrison Academy was the world Star video. I got so many that that world Star video is like a quarter million views the first day to wake up to wake up, yeah, back in the May back and I got so many emails of people like, Yo, bro, how can I get mentor by you? Bro? I stop gang banging because of you. Bro. That shit makes sense bro right, And so I'm like, damn, I can't mentor all these people.
And so I was like, Yo, how do I I know the game?
Though?
Like bro?
I literally transitioned out of the street from from the from the mud, like bro.
I had no corporate etiquette, no professional etiquette, Like I don't know how to send an email in two thousand and five, and I got in a real estate that like such an email up on what? Like how you do that?
Like you know what?
So I've built this and I built myself up from the from the from the ground, and so I knew I could give back in and pack people, but I didn't know what vehicle to do that, and one on one, I mean, I only got so much capacity. And so that's when I was like, Okay, I didn't know what's called the curriculum back then, but I was like, okay'mnna put together.
Like I'm an automate, like what I know. So I'm gonna teach what I know. I'm gonna record it.
I'm gonna do mentorship calls every week so people don't just don't watch videos like YouTube, but you actually can call me every week and get mentorship.
So I opened up a group mentorship, I'll put.
Together curriculum, got with some developers, put together our school website that I thought of the idea of November twenty thirteen. We did a soft launched December twenty thirteen. We launched our school January eighth of twenty fourteen, and since then had over eighty thousand students. Are now in five hundred top ten educational companies in the country. Wow for in real life.
All right, So now we got the backstory. So on the next segment, we're going to go into some gyms, and get some education in real estate because that's what we had, That's what I do, all right, So now we're going to talk about some some key terms because we had we had a couple of real estate episodes, but each real estate episode is different. And I jotted down some stuff that AI got from your page and b that we haven't coverage yet, so I think it'll
be good information. So first thing I want to talk about is a helock, right, and I saw in your page you had something about refive versus helock. So we talked about the refive, But can you explain he lock? We haven't covered helocks yet, can you explain, Well, what is it?
Helock? You can stand for all right?
So he lock is home equity line of credit and it's a way to tap into your equity without restarting your mortgage again. So like with a refinance, you're getting a whole new loan, whole new mortgage. So you could have paid your house down for the last seventeen years and you get a refinance, you back to zero on a thirty year mortgage to tap into your equity. With a helock, you can tap into your equity keeping your
existing mortgage. But now you put a second mortgage or a mortgage piggybacking that mortgage right behind it, and you can tap into your equity that way through a second mortgage, not resetting your first mortgage. And with a helock, it's a home equity line of credit. So it's not a new loan, but it's a line you can tap into. So with the refinance, you gotta start paying on that capital the day you refinance, right that whole new loan.
With a helock, it just says, hey, I got access to the seventy grand, and I only pay on whatever I use of that seventy grand. So if I find a property in Detroit that I can go acquire for eleven thousand and put twenty thousand into and flip, I'm only gonna pay on twenty one thousand I borrowed from the helock, As opposed if I have refinance and pull seventy thousand, now I'm paying interest on that whole seven d or the helock, you're only paying interest when they mount you used.
Is it a separate statement when you get your Yes, it's a complete pole separate loan.
It is a second loan to your existing loan.
But does it still go off of the equity, all right, So the REFI is like, you have a two hundred thousand dollars house and it goes up to four hundred thousand. Now you have two hundred thousand dollars in equity, you can be five from that?
Right? Is the he lock still based off of that equity.
Or well, let's let's correct that this is a big misunderstanding that we teach in the J. Morrison Academy for our students. Many times we think that Okay, I got a house that's two hundred thousand, right that I owe and it's worth four hundred thousand.
Right, You're like, yo, bro, got two hundred thousand equity?
What could I do? You got two hundred thousand dollars in equity, but you don't have two undred thousand equity that you can use. Right. So the banks have something called a loan to value what we call LTV. Right, So you here term LTV. It means loan to value. And so the banks may say, will lend you eighty percent LTV or eighty percent loan to value. So if the value of your home is four hundred thousand, the bank's saying we'll give you eighty percent of that four
hundred thousand, which which is three sixty. So if you owe two hundred and the bank's only going to loan you eighty percent of your value, which is three sixty, that means you really got one sixty inequity you can use, right, so you don't get the full two hundred, right, same thing with a helock, though the bank says, hey, we're going to give you an eighty percent LTV on your helock, then that means you get eighty percent of that four
hundred three sixty. But now we're not gonna reset your mortgage. You still owe the same two hundred, but will give you a credit line for the one sixty, and you only pay on what you use that one sixty. Whenever you use it. You could pay it back down, use it again, pay it back down, use it again, and you only pay on what you use. But it's only based on the LTV of the house. You do not get the full value of your equity unless a bank is giving you one hundred percent LTV.
So all right, each person situation is different, but is one better than the other in your opinion?
Or there's in a blanket statement, I would say the helock is more preferred in a blanket statement. I don't really like blanket statements because I believe, like what you just said, every scenario is different, which is why I believe in being an informed investor.
If you know how a refile works.
In a pros to cons and you know how a helock works in the pros and cons, based on your specific scenario in situation, you can choose what makes more sense. For instance, you may only have been in your house for a year and a half and now you can get a refinance at a five and a half percent rate of your equity at an eighty five LTV. You go to the bank and you want a helock, they may say, we'd only give you an eighty percent LTV, which is less equity you tap into, and we're gonna
charge you a seven and a half percent rate. Being that you've only been in your property for a year and a half, you might want to take the refinance, which is cheaper interest and more equity you can tap into, and you're only restarting your mortgage by one year. So depending on your scenario, when you're informed, you could make strategic decisions.
Is it based So typically are the interest rate a little higher on a helock or does it depend on a scenario.
Yeah, most times you'll find it the he lock is higher because it's a second mortgage. So what that means we have a second mortgage is that if you were to foreclosed or default on your loan, the first mortgage gets paid first. The second mortgage only gets the leftovers. So as a second mortgage lender, you take more risk having a second because you may not get paid if
things go bad. So if I'm a lender, which I am a private lender, If I'm a lender and you want a second mortgage from me, I'm not gonna give you the same rate as your first mortgage. I'm taking more risk. So he locked can be and typically may be more expensive than your first mortgage, refire or traditional lungs.
So you're a private lendings, I sure am hard money loans.
Hard money, soft money, creative financing, joint ventures, mezzanine financing, gap financing, constructing funding, all that.
And that's commercial that. That's the Tulsa Fund.
That's what Tosa Real Estate Fund are. We are a private lender and we are a development company. We're a full blown investment company.
All right, So we'll talk about that in a sex segment for sure. So what about segregation?
What's that? All right? So, coll segregation is a tax strategy or tax vehicle you can use when as a full time investor real estate investor, you can basically call segregate means you can deduct the personal tangible property of an asset.
So right now, we're in this.
Building, right the owners of this building can deduct anything in this building they can take off with a screwdriver and a hammer from their earned income. So if the owners of this building were wealthy and they made you know, they're making ten million dollars a year, but they own this whole asset, and it's all these doors in here, every single door, every knob, every stairwell, every hvac, everything, every cabinet that they can take take off of a
screwdriver and hammer. They can take the value of that and deduct it from their earned income, therefore reporting less earned income, therefore paying less taxes and mitigating or minimizing their tax exposure.
How about the acronym IRR.
Okay, IRR is internal rate of return. IRR is basically an ROI, but calculating the importance significance of time in an ROI. So if for instance, we invested in something today and we flipped it this year, made thirty three percent, that's thirty or even if we made thirty percent right in one year. So ROI is annualized, right, So we made thirty percent in one year. Let's say we made
fifteen thousand and six months. Fifteen thousand and six months is equivalent to an IRR thirty thousand in one year. It's saying if I were to do this again for the same six months, right, will be thirty thousand duplicated. Right, So now if you have thirty thousand in one year as an ROI. But now let's say you made the same money, but it took you two years to make the same money, So now you're IRR over two years would be fifteen percent, right, because now you're looking at
me thirty percent on one year. But now if I break it up over two years, right, the ROI on it considering time is now fifteen percent. Now if it's three years, is broken up, and now you've made maybe ten percent or whatever that number may be, right, Yeah, and then et cetera, et cetera, et cetera. So there's forms you can use on your calculator. I don't try to do the math, you know myself in my head.
But what IRR does is it calculates your return on investment considering the opportunity cost of your capital over time.
So all right, the next one.
And guess what, I never went to college.
The next one is for our pun Mike. He's not head, but he always we talked about two or three K loans a lot. He still doesn't understand what a two of three K loan is. I try to explain it to him, but maybe you could do.
A better job. You explain what a two of three K loan is.
Sure, So a two of three K loan is a renovation loan. It's a it's an FHA backed renovation loan which allows you to typically put between three and three and a half percent down on a property. But the most important part is that they will cover the construction costs or the building costs or build out costs of your assets. So it means you're getting the acquisition money, the purchase money, and you're getting their renovation or fixed
money the construction money. You're getting all that from your lender and you're still using one down payment. You'll get the money and what's called draws or installments. They want to make sure you're not just blowing it and you're doing the right construction. But fah.
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Sponsored by the United States Department of Homeland Security JAY or your banks will cover up to ninety six and a half percent or whatever their guidelines are of your acquisition and the full rehab under a two or three K loan, So you get to buy the property one to four units, even one to four units with a store attached. You can buy the asset and fix it up all within one loan for as little as three and a half or three percent down, and you have to live with that property. It must be an owner,
It must be an owner occupied property. Owner occupied residents.
So when you're looking at a property, right you talk about ROI. People hear about ROI a lot, Like, what does that mean?
Means everything? ROI is the root of money, is a root of investing. Think about it like you're an investor, or, entrepreneur, a business owner, real estate entrepreneur. You're doing it to to receive the little definition of an entrepreneur or a real estate investor, the definition someone who who invest capital and hopes to seek a profit. Right. So ROI really it gives you the measurement tool to compare apples to apples on your profits. So let me make it even simpler.
If you have ten thousand dollars, right, or one hundred thousand, or a million or ten million. Either way, that money has an opportunity costs. You could put that money a bunch of different places. You can invest in a T shirt line, you could invest in the podcast, you could invest in the real estate, you can invest in the uber or whatever you want to do. So your return on that investment is going to allow you to see what's the best use of my money or the best
use of the opportunity cost of my money. Right, So your roy helps dictate that. So you can look at your your capital and a checking account. Let's leave your ten thousand dollars in a checking account. You're gonna get point zero zero one percent. So you're gonna get like a dollar on your your ten thousand dollars. Right, you put that money in a four to one k or or or a CD, you might get three percent on
your money or three hundred dollars on ten thousand. So then you look at other instruments where you can invest your money, and they're all WI is going to tell you your ten thousand your capital park here makes you this rate of return versus any other place a rate of return. So the ROI really or your return and investment is just an indicator based on how much you invested, how much profit you made, what that rate is of return on those profits in that investment.
So, like, how do you evaluate that for real estate? Property?
Right?
Because it's easy because I'm a financial advisor, right, so I'm a little biased about stocks, but it's a different conversation.
But it's easy to look at its about real estate.
It's easy to look at a rate of return for an investment because you can see what it did for the last five, three ten since its inception. Right, real takes a little bit more. It's a little tricky. So how can.
You say realest is a little more easy?
All right, fit enough, But so how do you how do you look at that and evaluate that from a home to say, okay, this is just this rate of return I effect to get fifteen percent in the next three years. Like if you do that based off of comps in the neighborhood, you do that based off of Yeah.
How do you do that?
Well, it depends if you're purchasing as an owner occupied home buyer.
Right, I don't necessarily look at my ROI.
From a perspective of us as a home buyer, Right, I look at I still look the opportunity to cost the money. I say, okay, if I got to put three and a half percent or three percent down on his home, or if you're twenty percent down on his home, right, So still the opportunity cost my money. So say I want to buy three hundred thousand dollars home and the bank says, okay, you got to put ten percent down.
So I know I got put thirty thousand down to buy this home, right, or it could be three percent down, I gotta put nine grand down to buy this home.
So now I'm looking at, well, what else would I do with my nine grand?
What else?
What do I do with my thirty grand?
So from a from a home perspective, I know that by mee owning this property, and it could be a duplex or a multi family where I can live for free and rent the other units out. But even if I'm not renting the other units out and living for free, by living in a single family or townhouse or condo, I'm gonna live somewhere anyway. I'm gonna be paying rent
to somebody somewhere to have aof over my head. So if I can be paying myself and paying a mortgage with this ten thousand down or this thirty thousand down, nine thousand down, thirty thousand down, but then I get the future appreciation and equity from the home. And then I'm getting the tax advantages from owning the home, from the interest on the mortgage to the depreciation of the building, the closing costs on the asset. Then I got the
power control of the asset. Right again, not to mention for the multi fiani that I'm getting cash flow, I consider all those advantages as to well, what else would
I have done with that ten thousand dollars. So if that ten thousand dollars, just say in the stock market, would have gave me seven percent, then I'm know I'm making seven hundred dollars a year on that ten thousand dollars plus compounding interest, of course, but essentially to say seven hundred thous dollars a year on my ten thousand, that same ten thousand could have been in my house gaining.
Me appreciation and equity over the years.
So now let's say in a ten year period, so you put money in a stock out of ten year period and you got seven hundred a year, or say seven thousand. Let's say with compound the interest, you now got ten thousand, put ten ten thousand in the stock, and in ten years you got ten thousand dollars ROI
on that asset. Now you put ten thousand down on your residential property, and over that same ten years, your asset went up in value seventy thousand dollars, fifty thousand dollars, thirty thousand dollars, right just by living there and doing
something we're gonna do anyway. So Therefore, to me, just from a homeowner perspective, it makes better sense, plus the tax advantages you receive during that time, because you could appreciate twenty seven and a half percent of the asset over the years, plus the other benefits I gave you. So I look at that, and that's just a homeowner perspective,
which is not even the best example. From an investor perspective, I'm looking at the future market value or the COMPS or the ARV if it's a fix and flip, or I'm looking at the cat prate, which is the basically the ROI of the rental income from the unit and those tax advantages at the same time. So for an investor, you got the benefits of cash flow, which is rental income,
passive income, mailbox money. You have the benefits of appreciation and equity as you just live there or rent it out and it probably goes up in value over time. You got the opportunities for all the tax benefits, and as an investor, you get more tax benefits than you do as a homeowner, so you could you could appreciate not only the interest on the mortgage, the maintenance on the property, the cast segregation on the property and all
these things. So now you're getting bigger bang for your buck as an investor because you have so many financial benefits from owning an asset. And that's not to mention. If you get into the space of seventy five units and more, twenty units and more, and the multi family apartments, now you got more cost segregation, more doors, more rental income, more cash flow, more tax appreciation, all for the same investment you would have put somewhere else.
Another thing that we've spoken about and people still are not quite clear on, and now that we're in Atlanta, I remember the first time hearing about opportunity zones. I saw Tia talking about them, Yeah, and shout out the tip, shout out the king ten. So we started the researching it and get a better information on it.
Can you explain that to.
Thoden's like, how that works and how capital gains tax plays a part in it.
This sure, opportunity zones is really the biggest transfer of family wealth that will happen in our lifetime. It happens, it's a great depression. Opportunity zones is literally set up to use the urban community as a decoy to allow wealthy folks to roll their money over to the next generation. So what happens to opportunity zones is there's over eight thousand opportunities on tracks all throughout the country. These are mostly urban areas, some rural areas, blighted areas that they
say need investment dollars. And so what they're allowing the wealthy to do when those who have capital gains either from their businesses, from their stock portfolios, or from their real estate assets. As people realize capital gains or liquidate their portfolios to receive capital gains, they can roll their capital gains over right, the capital gains which will be taxable income. They will have to pay like a thirty percent or whatever percent tax rate on the capital gains.
So that the government is allowing them, through this legislation to roll their capital gains over into an opportunity zone through Opportunity Zone Fund into a qualified Opportunities on track and if they invest that money there, they will get a ten percent discount or tax coupon on that capital gain. So if capital gains was one hundred thousand and I rolled all over to opportunity zone, that means now my capital gains a taxable income is ninety thousand for the
first five years. Then if they keep it there for an additional two years or seven years total, they get another five percent tax coupon. So now my taxable income is eighty five thousand. So now instead of paying Uncle Sam thirty grand on one hundred thousand, I'm now paying Uncle Sam thirty percent on my eighty five thousand or
like twenty four grand right on my taxable income. Then the other benefit is if I leave that capital gains investment into that asset for ten years or more, any future capital gains or profits made from that asset, I can completely defer all the taxable income on that asset moving forward, so I can roll over my capital gains, get a discount on my original investment of fifteen percent after seven years, and then any future capital gains from
the asset that I put into the opportunity zone. So I can take my capital gains, go into the hood, build a whole new strip, mall, whole new skyscraper, whole new hotel, lose something that don't even help this community at all, and gentrify it, and then be able to roll all the profits of that asset over in ten years, sell it off to the market at a higher cap rate or lower cap rate, more profit and be able to take all that money out totally tax free. That's what opportunity zones is.
And in order to invest an Opportunities one, you have to be the Opportunities on Fund, right, correct?
Yes, I believe it's eighty nine eight ninety sixty form through the IRS to be Opportunities Fund.
One of the toughest parts is that a lot of us, especially in our communities, we don't have capital gains.
We don't even know what for us, but it's for us though us like they don't know.
I think it would have been more advantageous to have a financial or tax designation that actually service the people that are in that community and the kind of money they receive and help the working class rule their capital over into those kind of funds and receive those benefits.
So all right, corporate there, what's that.
Y'all want everything? Yeah? Corporate veil is your your your LLC or or your your corporate structure and the way you protect yourself and your assets. It's the way in which you protect yourself from and really it's it's asset protection. Long story short, it's the way you set up your entities in a way that you have the best tax advantage from your entities, the best liability protect from your
entity and entities. And it's just the way that you know, a sophisticated investor or entrepreneurs should be setting up their company.
All right, well you passed the test with flying it was. We didn't give them free notice though about what the questions is. But when you know, you know in real life, fast the test with flying colors. On the next segment, we're going to go into the Tulsa real Estate Fund. We're going to explain that in detail and talk about everything that.
You have real estate fund, let's be clear fact, so.
You have the real estate crowd fund, right, so it's a little different. It's a different way to invest in real estate as opposed to just a person just doing it on their own right, So what is it real estate crowdfund?
What's the details of that.
Well, our particular fund, the opportunity is for non accredited investors, meaning those who have a networth less than a million dollars or make less than a quarter million a year. For non accredit investors or credited investors and institutions, family offices and all kinds of capital. Partners can all invest in one vehicle, our non accredit investors and just all investors.
Our minimal investment is five hundred dollars, and you will be equity owner in our company and own shares of our entire portfolio, which currently consists of an opportunity zone property in East Point, Georgia, five minutes from the airport called the Legacy Center, two point six acre campus over thirty thousand square feet, which would be a coworking space, a financial empowerment center and training center, entrepreneur training center,
as well as ninety eight unit apartment complex and Making Georgia, as well as twenty eight units of student housing we're developing here and at the AUC where the historically black colleges are Clark, Spelman and Morehouse, as well as other fourteen unit seven units and multiple other investments that we've either funded or partake in as as investors and developers
through the fund. So for a five hundred dollars minimum investment, you get your approbated share of equity in our company, You get an eight percent preferred return that's annual and that's cumulating annually, and you get your share of fifty percents of the profits that are fun you know, projects to bring in over the course of our portfolio and our performance.
Now the President Obama had the is it the project rebuilt for He's the man?
Was the idea for the TOSA Fund?
Was it birth at that point or was it something that you had envision prior to it.
Yeah. Back in our early mortgage days in like two thousand and seven, eight nine, I would flick through the MLS and different you know listing systems. I would see hotels and hospitals, and I would think about it. I always had this vision to bridge the gap between real estate and pop culture, Like I always want to put the whole community on that. Once I got on, I wanted to put the whole hood on, you know, in
real estate. And so when I would see these large assets, I always think like, Yo, what if we could bust these down? What if we can chip in and go in on these assets? And there was no vehicle to
do that at that time. And so after the Freddy Gray uprising in Baltimore in twenty fifteen, I was at a panel that beet bust up, bustloads of bloods and crips, from ground zero where the CVS is burned down in Baltimore after the Freddie Gray uprising, and they I was part of that panel with timmyk and Mallory Mark, Lamont Hill and others, and they were asking like, what's the solutions for our community, and one of the bloods or crips or Baltimore, you know, crowd members yelled from the stands,
we need to build a black wall street, yo. And so I'm like, okay, if you think the community needs a black wall street or economic you know, kind of stronghold, I raised my hand and I was like, Okay, that's on my watch. Whoever want to build a black wall street beat me after this twenty fifteen and so I built with them. I went down to Baltimore, got on the ground talking to them, seeing what the problems are in the community. And I thought about it, like, well,
what does a black wall street look like? And for those not familiar, black wall street was. There's many black wall streets throughout America. One of the most notable was the black wall Street of in Tulsa, Oklahoma called Greenwood, where it was thirty six square blocks ore were two thousand homes and businesses that were burned down or were built up in less than twenty years and burned down in nineteen twenty one in one day on June first, and so I was like, well, we're gonna build a
sustaining community or be able to impact our communities. It's cool to hashtaglock black Wall Street and group economics and say it, but what does it look like in real life? Right? Yeah? How do you actually bring it to fruition? What's the economic vehicle that allows us to pull our dollars together to build a Black Wall Street? And so that's when I started the research then, and through that research we didn uncover the Jobs Act, which was just in past.
And I thought back to my old mortgage days about what I knew about financing and lending and investing in all those things. And so anyway, we went through the research. In over four years of due diligence and research and development, we put ourselves in position to ipo on June first,
the anniversary of the Black Wall Street bombing. On June first and twenty eighteen, we ipo this fund to the tune of you know, over I think a millionaire or nearly nearly two million dollars raised our first twenty four hours, our website crash three times the first day. I was
so pissed. But you know, so many hits on our website and so much as national attention, and we've raised you know, several million dollars to date and have built a multimillion dollar portfolio just with the first round of our fund in our first year as the you know, historic total real estate fund, the first black owned real estate for out fund history.
So how does that work as far as because we talked about the tech fund and he had you have to like wait a couple of years. So each, I guess company is different. Like for your company, it's like you have to wait one year before you can start to receive money from it.
So you one one year lock up until you're eligible to receive your quarterly dividends. But we cannot pay dividends until the fund is profitab profitable. So if we're developing assets that take two and three years to develop, then you obviously have to wait for the develop and of those assets and stabilization of those assets, the rents, the you know, equity to refod all that to become profitable.
So it's a long term play.
It's a long term place. It's legacy fund right, and so that's what we are really campaigning for, getting everyone to understand. If you want to fix and flip a home and make quick money or wholesale real estate with no cash or credit, cool, come to Jay Morrison Academy will teach you that you can do that in your
everyday life. But if you want to chip in as a collective, something that confits within your budget, where we all can chip in to empower our own communities and fund our own projects and fund our own deals without going to anyone else for help, going to anyone else's table. That's what this is.
So that's the whole period. It varies based on the asset or how's that work.
On the whole portfolio, right, So like say, for instance, we're building a legacy center, which takes is about a year and a half you know, development or whatever the case is, okay, But we have other fix and flips we funded that are instantly giving us mortgage money points revenue right now, and then we might build up whatever late.
So it's a balance of.
The whole portfolio that we have. So some assets are instantly making money and some assets are long term investments. But overall, once the whole fund is profitable, you didn't get paid out. You're accumulating eight percent over every year, which is preferred, meaning before we split any profits, you get your eight percent and every year you were older eight percent and then you get your share of future profits.
So now when we stabilize the Legacy Center, our projections are we'll stabilize it in the next year, two years, three years tops. We stabilize the Legacy Center from our leasing model and raise that value based on a market cap rate, from a three point six million dollar development to a seven point two million dollar valuation, and we either sell it and lease buy back, or we refinance and pull most of our capital out and pay our investors back. And you know what I mean, and all
that we still keep the asset. So it's just like I mean, it's kind of complicated but not It depends on your level of sophistication and real estate. But the point is at the end of the day, It's why I try to kind of simplify, is like it's a long term play for folks to invest capital one, and you shouldn't invest any money you can't afford to lose.
You shouldn't invest, you know, because in any investment, right, you understand, no investments guaranteed, and I'm not saying it's guaranteed, right, But it's for that discretionary income, that money that we blow that we don't love, right, So we blow hundreds on sneakers, hundreds on a vacation, hundreds on sparkles in the club, hundreds on all types of alloud bill or are happy hot our bill?
Right?
We blow all this money.
But what if we were to revert a lot of that capital.
You know, even our Christmas, Valentine's Day and birthday money, like our consumer money, and we were to revert that capital and be able to pull it together to do something awesome and impactful and historic for our community. It's that play, right, So that's that's what everyone has understandings. It's about us pulling our own capital to control our own resources and a very transparent, a very regulated, a
very sophisticated way. And you know, you you know, you know again, I invested it in the ten thousand, others match me ten thousand, some invested one thousand, some invested forty thousand, some invested five hundred. But it's about doing what in your capacity, but understand that we're doing it as a socially entrepreneur vehicle with mission involved. It's not
just the real estate fund. Like that's easy to do with the real estate fund, but but this is a fund for us to be able to control our own dollars, manage our own dollars, and do it in a way where it's not relying on any one person to save us. I don't believe we should wait on jay Z or Oprah or Puffy. It shouldn't be their obligation to have to fund the whole community relationship in the fund our damnselves.
That's a fact.
What's the demographic of people that you've seen that are investing. Is it a millennial move or is there a certain age that you're seeing.
That very is very diverse man, I mean even ethnicities. I mean we have white investors, Asian investors, Black investors, obviously many African investors in America.
But demographic wise.
There are I would always want to say fifty to fifty millennial and whatever that other generation isful. Yeah, we have we have a lot of working class you know, moms, dads, people have been looking for something like this. Their whole life, like they have been a civil rights movement.
They have been, you know, born right after the Civil rights movement.
They was part of the Black panther moving They're part of eighties Reaganomics and all that. But people have been looking for a solution for our community and who are doing well or wherever they're in their life and haven't had a vehicle. Or to the millennial who just wants to own a piece of an apartment building for five hundred dollars, imagine that you can the best five hundred dollars and literally be a fractional owner in a ninety unit apartment complex plus commercial real estate.
Yeah, that's the fact in their life.
And so the Tosa Fund has been around for a little over yere like yeah over here, right. And so you guys got off to a historic start. And then but you had some some issues that you beat with the Feds, right, And we spoke about some issues with the Fed.
Shouts of my brother.
Chris Gotti, that's our from Murder Inc. And he told us about their issues with the Feds, how they beat the Feds. So the reason why I bring this up is that we have to be we have to tell the full story. A lot of times when high light when when stories are it's like I knew it, but then it's like if you get exonerated, that part never
really gets told. Right, So can you talk about that a little bit as far as like the investigation or I don't even know what to call I don't want to call an investigation, but whatever, Yeah, we call.
Probe investigation subpoena, right, so we were subpoena by the FBI, the DJ you know, FBI, and the SEC. I don't
have an exact reason why. My instinct is that all the Negroes that thought this was a scam why I don't know, but they thought this was a scam or Ponzi scheme and kicked up fussing and making YouTube pages and Facebook pages and really bashing this historic fun as for our community, I believe you know that and other activity by people that are making like face fake pages on Instagram and trying to do PayPal tosal scams and all that. I think that you know, likely put us
on folks radar. I'm obviously I'm not the most conventional fund manager with my background as well, but however less we ended up on their radar and they subpoened us for documents. They wanted to see over fifty thousand emails. They want to see our financial records, they want to see our infrastructure.
Yeah you so we said, all right, see that.
Here you go. You know, here, here's the whole thing. Follow the money, right, like we said, follow the money. And I won't say we beat the Feds. I don't want to put it like that, but I will say that they have been gracious and I believe fair with us, uh, you know, and doing their job. And after reviewing our emails and reviewing our financial records, they see their investigation. You know, they reserved the right to investigate it anytime. But they did cease their investigation.
Uh, they thoroughly looked into it, and they didn't find anything that was.
I'm just saying. I'm just saying. They had fifty thousand emails, they had our financial records, our audits, our bank statements, our bank accounts, our whole everything, and they cease their investigations. So people should right. Absolutely, I'm just not I don't want to beef for them. Listen, Listen, we're not smiking.
Said this other day. Don't worry. Nobody's listening.
But We're just saying that there there. I mean, one can rationally think that if there was something super egregious or you know, any major infractions that that, you know whatever. I don't even want to speak too much. Just I'll just say that, you know, God is good. We've operated this fund and integrity. It's my legacy on the line.
Bro.
I'm not gonna be the guy that raised money from the community that went ran off of the bag. Like, that's not gonna be my legacy. Like, you know what I'm saying. I worked too hard for this. You know, I got a family that looks it looks up to me, and many that people around the community look up to me. We're just doing our best job, man, and do something that's never done before. Is it gonna be perfect? No trail.
I don't have a blueprint, you know what I'm saying, Like, but we are doing our best to operate with integrity, transparency. You know, the whole first year of the fund, I deferred my salary. I took no I took no personal salary, no personal compensation the whole first year, although I freaking deserve it. But again, we're just trying to move right, man, and just like get our people to feel comfortable trusting each other because the reality is, you know, which is
going to be one of our next campaigns. We're going to be challenging everyone, you guys, everybody to invest? Is that listen? It only takes forty thousand of us to invest a thousand dollars to raise forty million dollars. That'sh it alright, Like, yeah, diverted from somewhere else, forty thousand US put up one thousand dollars, we got forty million. Forty million is a twenty percent down payment on a two hundred million dollar project.
Ro It's just not that hard.
That's the fact. So what's your vision like five years? Like what do you win?
A billion dollars of assets under management? A billion black dollars in five years and all kinds of different properties, all kinds of assets, communities, hotels, hospitals, strip malls. Funding is not meant mind you. I don't want to be the biggest developer in the world. I want to be a great fund manager. The goal of the fund is not just the director and we acquire some assets where because we have great resources and relationships, you know, within
different real estate communities. So we get good deals, but really we want to privately lend and fund other people's deals. Like that's really my focus is, Like, Okay, you come with a project that you found in your community, all right, let's fund your project. Right. You came with a strip mall, or you inherit some acres of land and you want to develop that, Okay, let's fund your project. So, or you got a loan from a bank and the bank's going to give you eighty percent, but you don't got
the twenty percent equity. Well, let's give you the twenty percent equity. Right. So the goal of the fund is not for Jay Morrison to build a bunch of real estate. The goal of the fund is to be all ability to be the rich uncle for our community to be for all of us.
Still, I'm glad you said that because I just thought about that. We talked about it earlier. You guys are funding, you're giving out money. Now we're not giving out, but you.
You're loaning money. I mean, we've been from day one.
If you talk like, a black woman out of Lake Charles, Louisiana came to us. She got approved by a private lender that was not of our ethnicity. They approved there for a loan on fourteen units. She got her appraisal back. The property appraised for two hundred thousand more than thought. Wow. Then the lender came back and said, well, you know what, were gonna need a bigger down payment. I never heard
of that lender. Should feel more comfortable about loaning your money if your property appraise from or right, Because you know what I mean, they went and tried to get more money for her down payment so that she couldn't afford.
They're trying to really box her.
Out so she couldn't purchase it and probably try to go behind the door and grab it from her.
She came through me, through one of my.
Mentors, and we end up funding her whole project, the rehab, the construction, the acquisition and all that. And now today she has her fourteen units still with a few hundred thousand dollars equity.
So how do how do if people want to contact you about the funding, like just for the funding temple?
How today is that?
Like, yeah, you're funding and if you want to be a partner with us, right, I'm talking about not a donations, not a kickstarter, this is be an equity owner and a partner or to get your to submit your deal for funding or capital partnership called to Tulsa t U l s a real estatefund dot com.
Jay Man, thank you for joining us. Like I said, this.
Is something that we were looking forward to. Glad that you got to do this in real life. And yeah once again, yeah yeah, gotta stop asking now you gotta have somebody else that y'all they did it so big homie. All right, so you just used to spoke about that. But okay, so everything else? What is the contact information for all of your other uh businesses and everything else you have going on social media?
And how can the people appreciate that?
I mean, I want to challenge everyone man, Like you guys heard me spit game here today, like I know what I know, you know what I'm saying, Like I noticed stuff and how to translate and related stuff. We teach this very affordably, very relatively, very accessibly in a J. Morrison Academy again ink five hundred top ten educational companies in the country. You guys, go to J. Morrison. It's Jay Morrison Academy dot com. We have a brand new
curriculum we just created. It's over eighty five lessons on what we call the RBC's. So like in school they teaches the ABC's, so we teach the RBC's real estate, business and credit. So we go over everything from wholesaling real estate with no cash or credit to fixing to flipp into home ownership one oh one. We go over corporate veil strategies, to over branding your business, marketing your business, exit strategy, operations, how to manage to hire your team.
We go over credit strategies, personal credit, family credit, business credit credit lines, credit leverage, like all that for the whole game. We bust down and it's a lot. I literally was like, Okay, I got dumped everything out of my head and put into this curriculum. Like because every year we update the curriculum, I want to dump everything
out that I have. My partner Will Roundtree, my partner Isaac Gracey all put it together, and I mean in that curriculum, we have the quizzes, the tests, the assessments. Our basic curriculums starts at one hundred and ninety seven dollars for the year bro like all that corporate vale strategy, homeownership, flipping, holding, landlording, all that for one seven for the whole year, like
a fraction of your community college. And then we have another curriculum where you can actually get weekly mentorship calls, get all that plus weekly mentorship calls, career opportunities, joint venture opportunities, opportunities with us, and that curriculum just for ninety seven for the year.
So like I'm really giving the community game.
I mean like sixteen dollars at like thirty dollars a month type of thing. So you know, again Jay Morrison Academy, you can find us for education. You want to partner with me and with us on real estate assets as a passive investor and partner, go to Tulsa real Estate Fund dot com and for just every day you know, game, inspiration, motivation or whatever else you think I'll bring to the table at mister J. Morrison on all platforms. So that's
at mister J. Morrison YouTube, Facebook, fan page, Instagram. Of course, I'm just trying to get LinkedIn. I'm on LinkedIn. My team runs it. I don't run it, so you've befriend me. It ain't me, but LinkedIn as well. Tulsa Real Estate Fund has as a YouTube as well, and Total Real Estate Fund on ig that page is popping JMA. So I'm just really proud of the companies that I first
of what was before the companies. I want to give thanks, and not in a cliche way, but thanks to God just for really my testimony and stress testingmy you know, I'm like God stressed test me to make sure I was ready.
For what he had for me, who wanted me to be.
So I thank God for his grace and shout out to my wife as well holding me down. But also though, yeah, just I'm proud of the companies we built. Man Like, this was no easy journey. I talk, you know, I get in my bag and I talk my shit, but it's my way of kind of just like replenishing myself. Got pour out and I give so much. We didn't even mention the sixty three free corner classes I've done
over the last four years. I was talking twenty eight city sixty three free corner classes, even the legendary twenty four hour corner class here in Atlanta on Lee and Abernathy, which I'll be doing another one, so you know, I'm putting in work.
But again it's all.
Part of the initial mission. I talked about a bridging a gap between real estate and pop culture.
I don't care if I.
Gotta do it on the corner, if I gotta do it online, if I got to create a fund to do it, if I gotta have a school to do it. We got a real estate brokerage coming out soon and a bunch of other opportunities that are gonna be bringing to the public and to the people. And we got the Legacy Center, the Black House, the all Black building in East Point, thirty thousand s gud feet. That's for all of us. So I just you know, afford to building what you all. Thank you guys for having me man.
I appreciate you coming on man.
Troy.
Yeah, shoutut to everybody on Patreon, dot com, bas stash and at leisure. I'll probably pay program everybody that supports that. Like we said, we have a five tier program. You can join that any tier. There's different features at each tier. We got new members again. Every week we get to shout out people, So shout out to them Ken saying that right and the Kia. Shout out to them and everybody that's been supporting on Patreon, and shout out everybody
that's been purchasing the merch. My Asset Soul liability shirt is doing really well and people keep supporting that, and.
We got new merch. Like you said, you leave it.
So what happens when people come on after they do the episode, they become ey L alumni.
So now you officially probably graduating. He just got his doctor to the ey L University. Yeah, so shout out to everybody that's doing that.
And our tour shirts are l too, So every city we go to we bring shirts, and we have searched some cities, So shout out to everybody that's an in person.
Person knows for sure, for sure, and then don't forget. By the time you guys hear this, I think it'll be two days left. So it's not too late to register for our free network Meet and Green Chicago nine twenty six, and we're having our first workshop in Brooklyn, but it's also going to be livestreamed all over the world, so make sure you're registered that and that's going to be ten to seventeen. And the book tip of this week, because we always give a book tip, is your book.
Yeah the Lord of my Land. Yeah yeah, Lord of my Land. Make sure you check that out, man. Yeah, thank you just.
Be a landlord man, be the lord of your land.
That's a fact. That's a fact. So yeah, thank you guys for rocking with real life.
We see you next week.
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