Morris Invest and Oceanpointe Rehab Issues May 2018

[Account Closed]

I want to warn people from investing with Morris Invest, et al. I started with two properties to check them out and both properties were not renovated (at all or fully). Please see the review of my "renovated" duplex at https://www.youtube.com/watch?v=z0jXyRHrbYo. They are now ignoring me and will not work with me to fix it.  Please see Son Doan's channel at https://www.youtube.com/channel/UCdvDrBVhdgroJ866HgeMslw for reviews of their rehabs as well.

[Caleb Heimsoth]

Jack Glover this is all over BP. I wish you luck as you try to sort it all out

[Account Closed]

Thanks, Caleb.  I have heard stories of others in the same boat as well as others that invested everything they had.  Some of these people cannot afford to fix their properties that were left un-rehabbed (or incorrectly rehabbed) by Morris Invest, et al. What a fraud.  I hope the law catches up with them.  

[Jay Hinrichs]

Jack this needs to stop and the only way to stop Morris from my point of view of government intervention. stop the ongoing and take care of those who need it.

get with the other investors who have suffered the same issues and get together the squeaky wheel ..

[Account Closed]

I agree Jay.  I have referred this apparent criminal activity to the state's attorney general for possible criminal investigation - - talk about a massive apparent fraud - - and they have already written me back that they have opened a case. I will also be reaching out to the FBI as this apparent fraud appears massive and extends across state borders. As a former federal special agent, I can say this appears to be a slam-dunk case for either investigative body. I will also try to reach out to the appropriate real estate boards or commissions to file complaints against the brokers.

[Jay Hinrichs]

Mr. Glover  I think the public many times does not under stand that wire fraud also is the dissemination of false information in marketing.. and as you can see this is the case here..

not to mention many have wondered how Mr. Morris who is appears is not even licensed to sell real estate is getting away with this in multiple markets.

Along with what is from again what others have posted about just out right theft of rehab dollars.

Not to mention the gross misrepresentation of the neighborhoods etc etc.

It was bound to happen that someone of your back ground or some other folks would not take this lying down.

Some on Bp posted hey this is a learning experience etc..

We all know that real estate runs risks.. IE bad tenant etc.

but this is far more complex than that.

And when you have owners who for a good length of time were receiving rent only to find out their homes were in fact vacant or had squatters in them.. that reeks of a Ponzi type situation.

Also when you do your digging .. another critical element is that it appears through Morris or oceanpointe direction the title company used OP address as the return address for code violations etc.. so it was easy for them to sell vacant shells pay rent on them.. then pocket the code violations and the owners who never set foot or would set foot in Indy had no clue anything was wrong..

I have seen this play a few times in my career but this is one of the worst violation of the public trust I have ever seen.

And for Mr. Morris from what others have said to send out an e mail and say he is just learning of this.. Well these threads on Morris have been going on since about the time he did a BP pod cast.. and others were complaining so from what I read on BP Mr. Morris was aware of this for at least 12 to 18 months.

I do business in Indy and one of my clients said he was contacted by Morris who was expressing his concern over these issues and that again was at least 18 months ago..

you will see the same Issues in Jacksonville FLA as well but not quite to the extent..

Its really something.. how his on line persona and podcast hit on an investing nerve at that 50k mark..

but millions are going to be lost here..

As I stated simply a violation of the investor publics trust and just plain American Greed.. which is where we will probably see this end up  ON TV...

Thanks for jumping in.. and I wish you the best in your pursuit of justice in this matter.

[Jay Hinrichs]

Lastly ,, people are finally starting to also post on ripoff report.. this is very important as ripoff report will go to top of google Morris et al have been very good at knocking down critics on u tube and facebook.. but they cant monkey with ripoff report.. I encourage anyone who cares to protect the public to make a complaint on that site.. you can do it without leaving your name for those that may be to timid to post on BP.. but it gets a huge circulation.

And as well to be fair to Morris and OP there is a rebuttal section so he can rebut if he choose to engage.. however I suspect he will be ( if he has not already) lawyering up and getting ready for the legal onslaught that is about to rain upon him :)  you just can't screw this many people for this much money and then DUCK and throw OP under the bus.. granted they were bad.. but Morris Ouch.

[Account Closed]

Thanks, Jay. And good points.  

Several people I have communicated with thought things were going great with Morris Invest, et al, until they had their properties inspected this past week.  I think the complaints will start coming out of the woodwork now....

I visited the code enforcement office in Indianapolis yesterday and a lawyer there said they are being inundated with calls from Morris Invest investors trying to deal with code violations that were never resolved by Morris Invest's PM there. The lawyer said it is shameful.

[Account Closed]

Speaking of OP, they apparently shorted me several months of rent and even some off the two months of rent they did pay me. They never responded to my calls and emails to correct it.  I am apparently out thousands just in skimmed rent money.

[Account Closed]

I forgot to mention I also met with a PM in Indy (one that I signed with) and he said he had just told a MI investor that his properties were not worth further investment and to walk away/sell as is. The investor is going to lose approximately ~$100k according to the PM.

[Brady Hurs]

I had an inspector go out and make a report. Same issues as you guys, little to no rehab. 

Is it worth getting an attorney to review the contracts to make sure they are legit? If so, any referrals for an attorney in Indy?

What to do now? If there is going to be a class-action suit, how do we get involved?

I'm so lost here. Not sure what to do. 

By the way, the inspector I worked with was awesome. He's aware of Clayton Morris's issues.  David Blair from Advantage Property Inspection in Indy.

[Jay Hinrichs]

Originally posted by @Brady Hurs:

I had an inspector go out and make a report. Same issues as you guys, little to no rehab. 

Is it worth getting an attorney to review the contracts to make sure they are legit? If so, any referrals for an attorney in Indy?

What to do now? If there is going to be a class-action suit, how do we get involved?

I'm so lost here. Not sure what to do. 

By the way, the inspector I worked with was awesome. He's aware of Clayton Morris's issues.  David Blair from Advantage Property Inspection in Indy.

on the legal side I really recommend you contact BP member @Colin Zhu   he can help you for sure..

what you do first and foremost is file a complaint on line with the AG in INdy its free and takes 5 minutes.. this is the only way this scheme gets stopped. 

[Colin Zhu]

Also check out inspection videos for my property as well:

https://www.youtube.com/playlist?list=PLZesZrWooy5...

As Jim Cramer would say: Don't Buy! Don't Buy!

-Colin Zhu

[Jay Hinrichs]

Originally posted by @Account Closed:

Originally posted by @Jay Hinrichs:

Jack this needs to stop and the only way to stop Morris from my point of view of government intervention. stop the ongoing and take care of those who need it.

get with the other investors who have suffered the same issues and get together the squeaky wheel ..

 Let the market work itself out. I'm sorry but the Government isn't the answer for people who don't want to get on a ✈ and see what they are buying. 

@Mindy Jensen      these reponses gomer are a lot like a few other fake names that have been coming through lately.

you state the obvious.. but damage is done..  

[Jay Hinrichs]

Originally posted by @Account Closed:

You should advocate knowledge. 

for sure.  but fraud in the inducement is tough to catch ahead of time.

I would say that 50 to 70% of rental houses that are bought out of state the buyer does not visit it.. might visit the area.

and folks don't have these issues.. this is a special case.. so blaming a buyer for what is a massive bad practices issue is easy to say from your Barco lounger.  

[Josh C.]

Unfortunately, sometimes it is best to take your medicine and sell at a lost. Putting another 30k into a house that will never beat worth more than 40k is not a good idea. Add in the high turnover costs typical on d class assets and you end up throwing good money at poor investments.

We are happy to help with either advice and have tons of proof of bogus leases and made up rehabs. It just terrible what’s going on here.

[Account Closed]

I frequently see Morris ads on my facebook newsfeed and  I can't imagine how many newbies are buying these crappy D assets classes without doing their due dilligence ...I wonder when this is going to stop...He even encourages new investors to tap into their retirement accts and home equity lines to buy his properties. Hopefully this guy gets locked up very soon.

[Ernesto Gutierrez]

Thanks to everyone on this thread.