Morris invest properties recommendations ?

[Lakshmi P.]

Hello friends , I am thinking about buying Morris invest properties in Jacksonville Florida ..Does anyone have any experience with them ? Appreciate any input Thank you

[Jay Hinrichs]

@Jeff Schechter  in my Mind Morris has created this whole Social media bashing of their company. 

1. First they give the allusion they are a turn key company IE they own the assets and rehab them  THEY DONT>

2. some of the claims MOrris makes are just plain wrong and silly and defy common knowledge or wisdom in the asset class.

3. There is no question that a business can grow too fast and out strip its ability to service its existing clientele.. but when you have a company like this that is simply the marketing arm and Is relying on you as a provider / and maybe its not your homes that are wonky.. but its some of your fellow providers that are wonky... its the asset class that is failing..

4. It would have been nice if Morris had just come out with it already and said hey we are like Roofstock or Hartman or Norada or Maverick or Ali Boone or who ever we are just a marketing arm.. and this is who your actual seller is.

To have buyers get on social media and not even know who they bought from.. IF they even own the asset .. not get their doc's and deeds and all sorts of other VERY routine aspects of a real estate transactions just screams of amateur hour.. and the marketing company just throwing up as much as will stick make their money have no back end liability and laugh all the way to the bank.  So now they are taking their marketing arm to other markets.. and sure enough repping the worse product in the MSA and buyers are still confused.. IE I am buying a Morris house when none of them are Morris.

However we can disagree on the safety of out of state investing in what REALLY is D class and at best low C class that Morris is selling.

And unfortunately like @Mike D'Arrigo  I have had more than one of my clients get totally wiped out buying low end duplex's in INDY specifically ... are they all bad of course not.. But enough of them turn into nightmares that when you have an out of state or country investor lose 60k on an 80k purchase because their duplex won't stay rented and when its vacant two days its stripped and that happens 3 times in 2 years.. well that's a bummer for that one investor.. but that's rolling the dice on these.

There is no question that you guys that live and work it daily can make this stuff work.. I know I fund a ton of you guys in C class but your all owner operators.. when something goes vacant your there the next day pulling the condenser and appliances.. LOL. out of state out of mind investors find those items pulled by thieves..

But to each their own right.. two sides of the coin.  And having personally owned well over 400 of these doors .. there is no WAY your going to convince me that this low end C / D product out performs B class in ease of ownership and ability to collect rent over time.. break ins and trashed units at turn over.. Just not going to drink that cool aid personally.