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Maria Dantas
  • La Palma, CA
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Turnkey Nightmare with Morris Invest - Indianapolis

Maria Dantas
  • La Palma, CA
Posted

Hi there fellow investors!

We've done our first turnkey purchase with Morris Invest in Indianapolis about 6 month ago. A house in a C neighborhood near downtown, for about 50k. For this price the house was supposed  to be renovated and ready to rend. We had a hard time receiving photos of the process, and communication wasn't that good. Morris Invest gave the management part to Ocean Point, and things just got worse from there on, everyone is always too busy to come to the line, and calls are never returned. We got an email saying the property was still empty and they were having a hard time putting a tenant in place.

So we've decide to come by Indianapolis and find out what  was going on... as most of you can already imagine, things were much worse than we expected. When we drove by the house we noticed right away that it was the only house in the neighborhood that didn't have any work done in a looooooong time. It looked empty from the out side, so we try to get a better look inside, and that's when we noticed there is people living in the house, by what looks like they are probably squatting! I talked to a lady in her twenties, who said that they bought that house, then said they were actually leasing, and already living there for 8 months, then changed her story to "we are living here for 4 months". I was standing by her door and could feel the strong smell of weed coming from the house.

We called Ocean Point, but as usual everyone was too busy to come to the phone. I was outraged and wanted to visit their office in person, only to find out the address they have listed on their website its only for mailing, and they don't actually have an office for the public.

It's safe to say that we didn't do our due diligence enough with this one, and looking back we would've done things much different.

It's my first time going through something like this, and I'm not sure how to best handle this situation, what would be the best action in this case? If anyone has gone to something similar any tips or advises would be greatly appreciated. 

Thanks in advance, 

Maria Dantas

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Fas McO'nen
  • Austin, TX
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Fas McO'nen
  • Austin, TX
Replied

Hi Maria,

I too am a Morris Invest client and have bought properties through their company. I’m going to Indy next week to view the properties.
They just finished rehabbing one recently but I’ve been getting direct mail letters from investors wanting to buy the property, which tells me that it may still be in bad shape.

Instead of us simply sharing and complaining about Morris Invest, we should collectively bring this guy down if we can prove that he has been ripping people off.

My first property with Morris Invest has been rehabbed and rented out very fast. Since I am an out of state investor, what I did was hire a local realtor that would go inside the properties after they’ve been rehabbed and do a walk through.
I had her do a walk through on my second property and she she liked the rehab and even sent me pictures.
Problem is that the property has been sitting vacant for 2 months now.
And this is because Oceanpointe, I learned, only advertises using front yard signs and doesn’t do any type of online marketing. I fired Oceanpointe recently, after interviewing three other PM companies. Hopefully the new PM will rent it out quickly.

I’m visiting my property next week and if it doesn’t look rent-ready and costs me another penny I’m ready to bring Clayton Morris and his team down because this cannot continue.
I’ll follow up with you by the end of next week.

in your case though, I would:
1) fire Oceanpointe immediately and get another PM team
2) your place May still be a solid investment if under another PM so I would find out what costs you are looking at to get rid of the squatters and clean/fix it up a little. I’m saying this because my first property with Morris Invest is pretty good and it’s been putting money in my pocket so don’t give up just yet.
3) not sure if you have a vacant property insurance but I would get one as soon as you get rid of the squatters, until you rent it out again.
4) reach out to Clayton Morris on his FB page, YouTube channel, etc.. and have him buy it back from you if you don’t want the property anymore.
I heard he usually works things out with investors so I would at least try that.

Sorry you had to go through this.
I’ll keep you posted with my findings next week and best wishes to you.

Fas

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Jay Hinrichs
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  • Lake Oswego OR Summerlin, NV
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Jay Hinrichs
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Replied

@Fas McO'nen  nice post.

you will though continue to get yellow letters as this is the major playground for wholesalers in almost all rental areas.

Burnt out landlord is their favorite target.. 

unfortunately Morris's representation of the neighborhoods and asset class in my mind is pure fantasy.. 

some of these will work of course.. but 50% of them over the next 3 to 5 years will become wholesaler bait yet again.

there is a term or two terms in real estate one is  functionally obsolete and the other is economically  obsolete..

these areas Morris targets are both.. 

but from Morris side of the table there is never ending inventory ( landlord burn out Wholesaler feeding them) big margins 15 to 30k.. on small dollar value properties that people pay cash for.  No worrying about appraisals banks inspections .. He is very good at what he does.. 

Having been in the space going on 17 years now and funding thousands of these for investors.. these areas are only appropriate for local larger landlords that asset manage the property and people ( tenants).

Very tough for out of area folks to grasp the realities of how these tenants live in these neighborhoods and the transient nature and instability of the tenant base.. whereas  Morris paints this as rock solid salt of the earth people..  some maybe but many are felons and this is where felons end up.  Some call this trashflow.. 

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Alan Grobmeier
  • Rental Property Investor
  • Phoenix, AZ
911
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Alan Grobmeier
  • Rental Property Investor
  • Phoenix, AZ
Replied

@Ben Leybovich, I think we are in 100% agreement.

If it’s socal ppl @ 300k a year, why are they not going for safer & easier RE investments?  A lot of these stated returns are pie in the sky. 

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Alan Grobmeier
  • Rental Property Investor
  • Phoenix, AZ
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Alan Grobmeier
  • Rental Property Investor
  • Phoenix, AZ
Replied

@Jay Hinrichs, my properties are B+ to A-, all in good schools.  I get yellow letters ALL the time. How do I get them to stop?  I’m far from a ‘burnt out landlord’.  My systems are like clockwork.  

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Ben Leybovich
  • Rental Property Investor
  • Phoenix/Lima, Arizona/OH
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Ben Leybovich
  • Rental Property Investor
  • Phoenix/Lima, Arizona/OH
Replied
Originally posted by @Alan Grobmeier:

@Ben Leybovich, I think we are in 100% agreement.

If it’s socal ppl @ 300k a year, why are they not going for safer & easier RE investments?  A lot of these stated returns are pie in the sky. 

 Alan - because they are too stupid to know a pie in the sky if it hits them in the head... It had to be said...:(

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Jay Hinrichs
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Jay Hinrichs
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Replied
Originally posted by @Alan Grobmeier:

@Jay Hinrichs, my properties are B+ to A-, all in good schools.  I get yellow letters ALL the time. How do I get them to stop?  I’m far from a ‘burnt out landlord’.  My systems are like clockwork.  

your an out of area landlord.. you are a target as am I.. non owner occ.. owned for a while  big equity that's who gets the letters..

these low value areas though are really hammered.. and I bet if you keep your letters you will find when one company stops 3 newbies who think all they have to do is send out post cards and they will make cash so they can do what you do which is buy and hold.

for whatever reason people have been hammered into their brain that wholesaling is some simple thing to do when in fact its about the toughest thing there is in the real estate space.. but they get sold on you don't need any money credit etc etc.. so that's why you get letters..  

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Jay Hinrichs
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Jay Hinrichs
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Replied
Originally posted by @Ben Leybovich:
Originally posted by @Alan Grobmeier:

@Ben Leybovich, I think we are in 100% agreement.

If it’s socal ppl @ 300k a year, why are they not going for safer & easier RE investments?  A lot of these stated returns are pie in the sky. 

 Alan - because they are too stupid to know a pie in the sky if it hits them in the head... It had to be said...:(

No they believe that cash flow is the only way to make money in real estate and investing in high dollar areas that have little to no cash flow but good chance of appreciation is gambling.. who ever came up with that one should be shot.. the big money is made in appreciation over time..   and that happens with supply demand or value add or rental rates rise significantly.

these lower value areas rental rates are quite static and have been for the almost 20 years I have been playing in that sand box.. so the only value increase is if an investor will settle for smaller return the one before them. 

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Ben Leybovich
  • Rental Property Investor
  • Phoenix/Lima, Arizona/OH
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Ben Leybovich
  • Rental Property Investor
  • Phoenix/Lima, Arizona/OH
Replied
Originally posted by @Jay Hinrichs:
Originally posted by @Ben Leybovich:
Originally posted by @Alan Grobmeier:

@Ben Leybovich, I think we are in 100% agreement.

If it’s socal ppl @ 300k a year, why are they not going for safer & easier RE investments?  A lot of these stated returns are pie in the sky. 

 Alan - because they are too stupid to know a pie in the sky if it hits them in the head... It had to be said...:(

No they believe that cash flow is the only way to make money in real estate and investing in high dollar areas that have little to no cash flow but good chance of appreciation is gambling.. who ever came up with that one should be shot.. the big money is made in appreciation over time..   and that happens with supply demand or value add or rental rates rise significantly.

these lower value areas rental rates are quite static and have been for the almost 20 years I have been playing in that sand box.. so the only value increase is if an investor will settle for smaller return the one before them. 

 Totally agree, Jay. I've been preaching this very point for 5 years on BP it seems, but so few listen...

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Alan Grobmeier
  • Rental Property Investor
  • Phoenix, AZ
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Alan Grobmeier
  • Rental Property Investor
  • Phoenix, AZ
Replied

@Jay Hinrichs, if the properties are not desirable, rents will not track (or exceed) inflation.  That makes them a ‘loser’ off the bat unless you are diversifying.  I’m sure there is a point where you can do this as a ‘flyer’.  Not sure what is that point.  

I did multi for 2 years w a partner while I had a full time job.  Disaster.  Didn’t lose money, but I could write a book on what not to do.  Lol.  I came away from the experience with an extremely targeted business model.  

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Jay Hinrichs
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Jay Hinrichs
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  • Lender
  • Lake Oswego OR Summerlin, NV
Replied
Originally posted by @Alan Grobmeier:

@Jay Hinrichs, if the properties are not desirable, rents will not track (or exceed) inflation.  That makes them a ‘loser’ off the bat unless you are diversifying.  I’m sure there is a point where you can do this as a ‘flyer’.  Not sure what is that point.  

I did multi for 2 years w a partner while I had a full time job.  Disaster.  Didn’t lose money, but I could write a book on what not to do.  Lol.  I came away from the experience with an extremely targeted business model.  

 the Issue with Morris is just gross misrepresentation.. and then gross incompetence in the execution..  Along with Investors burning desire to think that rental real estate is the key to financial freedom  ( see Morris financial freedom number).

Just like MLM sells their product.. can it happen sure does it often no.. 

Anyone who ask me off line i tell them straight away you have to be committed in the landlord business to get to 10 doors or homes ASAP or have the ability to do that quickly.. buying one home is not going to do much for you.. and i understand folks have to start some where but that somewhere is not the riskiest investment in the rental Niche the low end terrible neighborhood old dog houses.. :)

these folks are plopping down 40 to 60k in cash.. they now probably realize that putting half down on a 120k home in the same area would get them into a quality neighborhood Quality schools and more stable tenant.

and if they don't want to borrow they are FAR better off buying a performing note.. less risk return is consistent and you can count on it and you have no bad days if you pick right..   Many landlords after a time come to embrace owning the debt as opposed to being in debt or outright owning the asset.. BOA  WELLS did not get to be mega business's owning real estate they own the debt.

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Charles Kao
  • Specialist
  • Grand Rapids, MI
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Charles Kao
  • Specialist
  • Grand Rapids, MI
Replied

Matter of personal opinion but with large turnkey companies that are hyper local what advantage could they possibly afford you than an agent that knows the area better than the back of their hand. You got one partner bringing the funds and another with a system that hundreds of others have. If you both don’t know what you buy that just sounds like a bad formula to start. We habe clients that want turnkey out of state all the time and I tell them all
the time based on what you want I would do an REIT. If you want to be that passive investing in real estate why not just do an REIT? You are already accepting a lower
return and entry level to investing is lower and more diversified so it makes sense. only difference if you are vain you can say you own it in your name.

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Andrey Y.
  • Specialist
  • Honolulu, HI
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Andrey Y.
  • Specialist
  • Honolulu, HI
Replied
Originally posted by @Ben Leybovich:

Guys, you're missing the damn point.

You cannot afford to do proper DD on a TK $50,000 house. It's not enough profit to warrant you time. Your time is better spent elsewhere.

If you are in a financial situation whereby you have $50,000 to spend on an investment, this tells me that you are successful! Whatever is your highest and best use that got you here - keep doing that. It's working!

Real estate investing is NOT buying a TK $50,000 house. That's not REI. REI is something you have to study just like you studied computer science and medicine. There are no shortcuts, at least not ones that are sustainable :)

 Right on the money. There are no shortcuts in business or life. It takes 14.5 years (if you're lucky) from undergrad to board certification to practice in my specialty, and I feel like that is barely scratching the surface. I am sure that Ben and @Brian Burke spent at least that time to master multifamily real estate. There is only so much in life you can excel at. Thats why I like to leave it to the experts ;)

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Jay Hinrichs
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  • Lake Oswego OR Summerlin, NV
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Jay Hinrichs
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Replied
Originally posted by @Andrey Y.:
Originally posted by @Ben Leybovich:

Guys, you're missing the damn point.

You cannot afford to do proper DD on a TK $50,000 house. It's not enough profit to warrant you time. Your time is better spent elsewhere.

If you are in a financial situation whereby you have $50,000 to spend on an investment, this tells me that you are successful! Whatever is your highest and best use that got you here - keep doing that. It's working!

Real estate investing is NOT buying a TK $50,000 house. That's not REI. REI is something you have to study just like you studied computer science and medicine. There are no shortcuts, at least not ones that are sustainable :)

 Right on the money. There are no shortcuts in business or life. It takes 14.5 years (if you're lucky) from undergrad to board certification to practice in my specialty, and I feel like that is barely scratching the surface. I am sure that Ben and @Brian Burke spent at least that time to master multifamily real estate. There is only so much in life you can excel at. Thats why I like to leave it to the experts ;)

the second you think you know it all something bites you in the butt

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Steve K.
  • Realtor
  • Boulder, CO
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Steve K.
  • Realtor
  • Boulder, CO
Replied

Maria Dantas thanks for posting this and sorry you’re in this situation. I was referred to MI/OP a few weeks ago, luckily found the other BP threads right away and have been watching this thing unravel since then. I feel for you and others who were/are being duped. Yes lesson learned, everybody do your DD but that doesn’t mean the scammers are innocent. What I’m wondering is why haven’t investors simply called the local Indy police and reported the crimes being committed? Seems to me if you paid for rehabs that weren’t done, that’s a pretty cut and dry crime with not much grey area. Taking money up front and not providing materials or services outlined in scope of work is textbook grand theft, or am I missing something? Fake Contractors/ scammers get arrested for this exact thing all the time. Why not just have them arrested and charged and if you’re planning to open a civil case, then an arrest/conviction would likely make your case even stronger (not a lawyer but this seems like common sense). Maybe this is happening behind the scenes and I shouldn’t be mentioning it on here, if so I apologize. I’ve just been watching this play out and I’m saying to myself REPORT THE CRIME! Seems like they’re still making podcasts and selling, probably trying to sell their way out of the Ponzi scheme they’ve created which means more good people losing their hard earned money. Like others have mentioned when you google Clayton Morris or Morris Invest nothing negative shows up and it seems like “Former Fox News Host Indicted in Massive Real Estate Scam” should be at the top of the page but it’s not. Some major negative press would be a good thing for the general public at this point. I wish that investigative journalist and whatever government agencies working on it would hurry it up!

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Joel Owens
Agent
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Joel Owens
Agent
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  • Canton, GA
ModeratorReplied

I still will never understand why people buy (trash for cash). Fix up trash in a bad area you still own a dump.

Find that lump of coal in a great area and turn that property into a diamond.

I would rather buy a new build 200k property that broke even every month in a great area that appreciated 50k in 2 years then own a dump for 50k that marginal tenants trash and take big losses on. It's not about how much you pay for something it's what you are GETTING.

I saw the herds back in 2007 before the last downturn. Lot's of euphoria and (can't lose) thinking and everyone wants to get in real estate,blah,blah,blah. Seeing it all again now. People playing LOTTO with very few winners and tons of big losers with the cash invested. Experienced  investors will just hoard cash and mop up again on the down turn buying the stuff the other investors lose their shirts on.

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Ben Leybovich
  • Rental Property Investor
  • Phoenix/Lima, Arizona/OH
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Ben Leybovich
  • Rental Property Investor
  • Phoenix/Lima, Arizona/OH
Replied
Originally posted by @Andrey Y.:
Originally posted by @Ben Leybovich:

Guys, you're missing the damn point.

You cannot afford to do proper DD on a TK $50,000 house. It's not enough profit to warrant you time. Your time is better spent elsewhere.

If you are in a financial situation whereby you have $50,000 to spend on an investment, this tells me that you are successful! Whatever is your highest and best use that got you here - keep doing that. It's working!

Real estate investing is NOT buying a TK $50,000 house. That's not REI. REI is something you have to study just like you studied computer science and medicine. There are no shortcuts, at least not ones that are sustainable :)

 Right on the money. There are no shortcuts in business or life. It takes 14.5 years (if you're lucky) from undergrad to board certification to practice in my specialty, and I feel like that is barely scratching the surface. I am sure that Ben and @Brian Burke spent at least that time to master multifamily real estate. There is only so much in life you can excel at. Thats why I like to leave it to the experts ;)

 Hah Well, @Brian Burke is about as sharp as they get. Me - it seems like I still call or email him twice per week with this question or the other. He only has one thing to say, ever - you're doing it right; I have the same problems...  Frankly, Burke is brilliantly useless :)

The learning here is nothing short of a rabbit hole...how deep do you want to go? It's just funny that when I decide to dig really deep, it's Burke I find at the bottom :)

Andrey - you could develop this in a number of interesting ways. I ask for your discretion hahaha

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Maria Dantas
  • La Palma, CA
43
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7
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Maria Dantas
  • La Palma, CA
Replied

Wow, this post has really generated a lot of feed back! Thanks all for the constructive comments!
I am a first time investor, with my fiancé, we thought since this is an affordable property, this could be an entry into real estate investing, and boy what a lesson we learned! So this is at least a good experience. Expensive, but important lesson going forward.
So here’s the update:
We contacted Ocean Point the same day we discovered the house in that condition. I, as usual, could not get in contact with the person in charge, or any body that could help me. Go figures, I thought. Next day after my initial post here, we got a call back from Ocean Point. On that call, we talk to them very gently, with a purpose, and calmly explained that we haven’t had the tenant in 6 month. A surprising comment that came back was we had tenants in our property since the middle of March, and that we should have money coming into our account very soon. (It didn’t, yet, btw). Of course I complained I had never received a lease, or had been notified of property being rented. And the reported amount of rent was much lower than what was presented in the pro forma. OP’s argument was the property wasn’t renting so they had to lower the rent (but of course, the house hadn’t been rehabbed properly! Back to this later). We waited for them to finish talking to inform them that we were actually in town and had drove by the property to find tenants living there reported for more than 4 months, and in very questionable conditions. OP said they had no information about such a thing and that they would check and let us know…which they didn’t get back to me.
So the facts are, 1. they didn’t notify the owner for the supposed “lease” and the new tenants, 2. lowered the rent without notice, 3. the house looks abandoned, 4. and the story doesn’t check out with the tenants who supposed live there for more than 4 months. It’s been exactly month and a half now and no rent has come in. It’s another thing we’ll have to wait and see. Looking at the condition that the house is in, no wonder one would had to drop the rent. It looks like an abandoned house, with paints falling off everywhere, broken glass window patched up with some wooden board, unpaired and crudely nailed in railings, etc. The pro forma picture (which is the before photo) looks much, much better than the current “rehabbed” one! And for those who maybe wondering why I didn’t ask for the before and after pictures, of course we had asked. But there were supposedly waiting list for the pictures to be taken, and most likely you wouldn’t get those before and after photos. So MI asks you to just trust them, and only get very low resolution photos of what seemed like a 80% rehabbed (interior only) pictures. Now I know why.
We contacted Clayton about their extreme negligence with rehab not being done in the property, and all the problems with OP. The response we got next day (not Clayton) was that they would like to move us to Blue Sky, and get our property back on track. They would assess a crew to complete whatever it's left of the rehab work. Ending the email with: "after that get the property market, tenanted and cash flowing”. No explanations, no apologies, just the same pitch from 6 month ago. While our cash it's been invested, taxes and insurance are being payed, and not a single check from rent has been received, due mainly to rehab work not being done and negligence by the property management which he vetted as “turnkey.” This, being
We understand now that this is not a turn-key company. Proper turnkey is buying a finished product, ready to rent. But with Morris Invest, buyers are paying both the product and the rehab cost at closing, and no proper work is being done for the rehab and marketing it for rent.

Following a lot of the great advice we got here, our next step it's to figure out the best way to reduce losses, whatever that may be. This was an expensive lesson, but important one for us. While in Indianapolis we took our time to meet with few people that we got good reviews here on BP, that would help us solve this nightmare of situation, and also saw the market in person.
Just to clarify few things: When we purchased that property we weren't aware of BP, and didn't know about all the other nightmares stories that were already going on with Morris Invest. There is no shame for me in admitting we are beginners, and we are not very familiar with the ins and outs of Real Estate Investing. I trusted too much, and from a reputable source, I thought, from a public figure who would not want to damage his reputation, and “not over analyze and just take action,” as he says. As someone said in the post above, maybe we will see a headline “Former Fox News Host Indicted in Massive Real Estate Scam”?

Thanks you so much everyone for the kind words and advice (also thankful for the tough love). We will keep everyone posted!

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Michael Swan
  • Rental Property Investor
  • San Diego, CA
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Michael Swan
  • Rental Property Investor
  • San Diego, CA
Replied

I think this outfit and many other outfits do the same thing.  They sit around talking about stupid Californians and other areas like Washington, Hawaii, Denver, New York etc...  They most likely say, hey I got another sucker on the phone!!  It is disgusting!!!  Where has honesty and integrity gone?  They should be ashamed of themselves. How do they sleep at night?  That goes for any turnkey provider that disguises D class Properties as good hard working C class neighborhoods, have appraisers in their hip Pockets and sell naive investors a bill of goods!!!

Swanny

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Liz Cole
  • Camano Island, WA
42
Votes |
91
Posts
Liz Cole
  • Camano Island, WA
Replied
Originally posted by @Alan Grobmeier:

@Jay Hinrichs, my properties are B+ to A-, all in good schools.  I get yellow letters ALL the time. How do I get them to stop?  I’m far from a ‘burnt out landlord’.  My systems are like clockwork.  

 Alan, it's called a paper shredder!

User Stats

919
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911
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Alan Grobmeier
  • Rental Property Investor
  • Phoenix, AZ
911
Votes |
919
Posts
Alan Grobmeier
  • Rental Property Investor
  • Phoenix, AZ
Replied

@Liz Cole, I get what you're saying, but it gets really old! One of my properties is a VA loan at 3.25%, 30 yr fixed. I get cash out/refi offers weekly from official looking letters. Or refi for a better rate, which is usually some type of ARM. I get more junk mail than real mail. :-( That's before you get to yellow letters from every new wholesaler in my area. The good news is that I can sift thru a lot of them quickly as they are addressed to LLC's. Like I said, it gets tiring, I wish I could turn them off. :-(

User Stats

91
Posts
42
Votes
Liz Cole
  • Camano Island, WA
42
Votes |
91
Posts
Liz Cole
  • Camano Island, WA
Replied

@Alan Grobmeier

Yep, I feel ya. Between junk mail and junk phone calls, it can get aggravating. Too bad there isn't a do not mail list. lol🤣

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41,790
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61,560
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Jay Hinrichs
Professional Services
Pro Member
#4 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
61,560
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41,790
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Jay Hinrichs
Professional Services
Pro Member
#4 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied
Originally posted by @Liz Cole:

@Alan Grobmeier

Yep, I feel ya. Between junk mail and junk phone calls, it can get aggravating. Too bad there isn't a do not mail list. lol🤣

back to our regularly scheduled program of bashing the crap out of Morris for all the BS and disasters he has caused nice innocent investor.. ..   

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2,639
Posts
1,782
Votes
Brian Pulaski
  • Flipper/Rehabber
  • Montgomery, NY
1,782
Votes |
2,639
Posts
Brian Pulaski
  • Flipper/Rehabber
  • Montgomery, NY
Replied

I would be interested in seeing the photos.

I could not imagine owning a house, and not having any info on who was really living in it, how much they were paying, what condition it is in... etc.

User Stats

202
Posts
222
Votes
Son D.
  • Rental Property Investor
  • boston, ma
222
Votes |
202
Posts
Son D.
  • Rental Property Investor
  • boston, ma
Replied

MI/OP made a big mistake today. Yesterday I received an email from someone working for OP regarding transitioning to AHI property management, their new name. The mistake? There were 250 other emails on there!! So I don't know whether it's an oversight or laziness, but Oceanpointe inadvertently allowed 250 of their clients to connect. Most of which had no idea what's going on until today. This whole day has been us talking back and forth, sharing stories, comparing notes. Lots of people excited/relieved to have found others in the same boat. Common themes throughout that we've exhausted on BP. It seems that none of us received any rent in April or longer. Clayton Morris's email is in there and people directly called him out for answers. Not a peep so far. Someone is leading the charge and is speaking to a lawyer tomorrow. It seems a long awaited class action lawsuit may be coming.

@Jay Hinrichs @Tyler Jahnke @Colin Zhu @Steve K.

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Jay Hinrichs
Professional Services
Pro Member
#4 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
61,560
Votes |
41,790
Posts
Jay Hinrichs
Professional Services
Pro Member
#4 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

well looks like the shoe is about to drop.

https://www.biggerpockets.com/forums/55/topics/563340-morris-invest-and-clayton-morris-review

see this thread if this information Is accurate enough of the folks that got burned are taking Massive action.. in the correct direction..

@Ritch Bonisa@Tyler Jahnke@Steve K.@Josh C.@Clay Manship@Jeremy Z.@Son D.