Vlad Told Jay Morrison Why He Wouldn’t Invest in the Tulsa Real Estate Fund (Flashback)
In this flashback clip from last year, Jay Morrison revealed his plans for the Tulsa Real Estate Fund, an initiative that could create a successfully thriving “Black Wall Street.” Morrison said that his group was looking to purchase a historic YMCA building in Atlanta where MLK helped spark the Civil Rights Movement, adding that the plan was to redevelop the property and make it into a blues lounge.
Later on, Morrison also spoke about his role as a potential lender to those looking to develop land that may not be able to secure traditional bank loans, while detailing how the group was aiming at a comprehensive community redevelopment strategy.
With all that said, despite Vlad wishing him the best of luck with his ideas, he was honest in saying that he was also not interested in any type of investment. At one point, Morrison even challenged him to at least put $500 into the fund, which Vlad was quick to reject while noting that he doesn’t invest in real estate.
Additionally, though Vlad had been skeptical of Morrison’s proposed 8% return on investments throughout the interview, Morrison concluded the segment by suggesting that returns could even be as high as 12% after the first year. With that said, while Vlad pointed out that neither figure was guaranteed, Morrison countered by saying that was true with all investments.
All the same, it should be noted that elsewhere in the interview Morrison gave the advice that “you should always invest what you can afford to lose.”