Oceanpointe and Morris Invest

[Alex Peralta]

With all the info coming out about Oceanpointe I thought id give my recent dealings. I purchased a property through Morris Invest about a year and a half ago. I may have gotten lucky because everything went smooth at first. I closed fairly quick, renovations completed and a tenant moved in within a couple months of purchase. I did this as a trial to see how a turn key property deal was like. Last month no rent. rent. We got an invoice for $0. A quick email from OP stated that the tenant had not paid rent. After that no contact or communication at all. Phone calls went unanswered and eventually i got a full voicemail message. At that point we decided to try and quickly change companies. I am not sure of Oceanpointes status now. I sent an email and certified letter terminating our agreement. I also sent a letter to the address. I was trying to get in touch with the tenant and advise them that they should no longer deal with OP and our new PM would be making contact. The tenant called back. They had been living there since the beginning. We never had a tenant change over but OP still charged me a clean up fee and a new tenant fee. We also learned today that a guy named Louis with Oceanpointe kicked the door in thinking it was vacant. OP refused to fix their mistake and told the tenant they had to pay for it. We have now found a new company that seems to be very responsive and will give my reviews once we've had a few months to get a feel for them.

A quick search shows Natalie Bastin as the owner of Oceanpointe Investments. I am curious if she has not started up another company doing the same thing?

[Alex Peralta]

interesting read

https://www.ripoffreport.com/reports/oceanpointe-property-managementoceanpoint-investments/indianapolis-indiana-46226/oceanpointe-property-managementoceanpoint-investments-oceanpoint-investmentsoceanpoint-1427652#comment_3

[Lane Kawaoka]

As a previous turnkey buyer myself I’ll say this is what happens when people don’t know what they are doing.

A few rules to avoid this:

Stick with b properties or better that rent for at least 900 a month.

Always get an appraisal and inspection.

Never pay cash... have the bank that you are getting a loan with help with due diligence.

[Chris Clothier]

Originally posted by @Lane Kawaoka:

As a previous turnkey buyer myself I’ll say this is what happens when people don’t know what they are doing.

A few rules to avoid this:

Stick with b properties or better that rent for at least 900 a month.

Always get an appraisal and inspection.

Never pay cash... have the bank that you are getting a loan with help with due diligence.

These are so basic and yet they are FUNDAMENTAL if you are going to be successful as a passive investor.  Whether you are buying across town or across the country, passive investors raise their risks when they fail to follow even these three basic tips.

[David Saquing]

Alex,
Who is your new property manager? I want to use them too since nobody’s replying from both Morris Invest and Oceanpointe. Please help. Thanks.

[Shiloh Lundahl]

@David Saquing I don’t know which property manager Alex switched to but I was not satisfied with my previous property manager so I switched to @Harvey Levin and I have be happy with the services that I have gotten from him. 

[Alex Peralta]

The company I went with is “Harvey Property Managment Group”. They have been very responsive and actually call back even now after we’ve signed on. I can’t post contact info on here but message me and I’ll send you the email and number

[David Saquing]

@Shiloh Lundahl Thanks. He is the one that @Alex Peralta recommended. Thanks for the help guys.

[Mike D'Arrigo]

Originally posted by @Lane Kawaoka:

As a previous turnkey buyer myself I’ll say this is what happens when people don’t know what they are doing.

A few rules to avoid this:

Stick with b properties or better that rent for at least 900 a month.

Always get an appraisal and inspection.

Never pay cash... have the bank that you are getting a loan with help with due diligence.

 Lane, this makes it sound as though it's simply buying in a bad neighborhood. With OceanPoint it starts with a bad neighborhood but the problems go much deeper. This is a case of a bad turn key provider. They would be having this same problem if OP was operating in B class neighborhoods. 

[Account Closed]

I’m amazed at how often these creeps are brought up and this Morris Invest malarkey.

I would certainly support Lane Kawaoka turnkey criteria - it is spot on to the properties I have and they have been success stories.

[Caleb Heimsoth]

I think the rental amount varies by area. I try to stay above 750 and I think 800 is good to. 900 or more in a lot of markets will get you an A type area. Which is fine but the cash flow is less. You can have success in lower areas, it just takes more due dilligence.

Never pay cash from a turnkey company. I can almost guarantee you’re paying way above fair market value.

[Omar Khan]

Watching the Morris Invest train wreck is becoming a guilty pleasure. 

Really hope the investor's get their day in court and recover as much of their investment as possible. What an absolute scam!

[Jeff Martin]

@Alex Peralta We are discovering the same nonsense and have moved to take action on these turkeys. I am sorry to hear you are having the same issue and hope there is a larger class-action movement against what looks to be very fraudulent activity. 

[Dennis M.]

This is so sad to watch . Clayton has such great videos on investing and a calm collected demeanor that I could see how people would want to work with him . Shady business practices and Every property I’ve seen online that he sells looks to be a d class dump in dire need of maintenance .

[Steve VanderHill]

I've had a bad experience with Oceanpointe and Morris Invest as well. Clayton's failing PM company Blue Sky, is not helping either.  I have heard there may be a class action lawsuit in the works.  Any info, if any, is appreciated.  It seems MI knew that this was a problem yet kept selling homes anyway.  He comes across as a caring and personable salesman, yet kept duping investors knowing about the rip off they were buying into.

[Jay Hinrichs]

Originally posted by @Steve VanderHill:

I've had a bad experience with Oceanpointe and Morris Invest as well. Clayton's failing PM company Blue Sky, is not helping either.  I have heard there may be a class action lawsuit in the works.  Any info, if any, is appreciated.  It seems MI knew that this was a problem yet kept selling homes anyway.  He comes across as a caring and personable salesman, yet kept duping investors knowing about the rip off they were buying into.

 @Colin Zhu  contact Colin he is helping Morris Victims and yes Victims Morris cant be the 9 year old child ( i did not do it I did not do it)  that is an insult to your intelligence.. this must be stopped

[Caleb Heimsoth]

For any newbie investors who read this thread or another, if you are buying long distance and you have a PM company who doesn’t respond within 24 hours of all requests during the work week, find a new Pm company.

[Jade S.]

Yet the Morris Invest Facebook page chugs along with nary a hiccup...it’s like a whole parallel universe where newbie investors chime in on their love for the podcasts and desire to hit their “freedom number”.  And on the MI post concerning his new podcast episode 327, he discusses buying...B class properties.  Who woulda thunk it!