All Forum Posts by: Aram V.

I received this email from my property manager. 554 Credit Score is pretty scary. I mean, combined we are looking at 640 and that’s a bit concerning - Any thoughts?

2 Votes

LIVE chat is on FIRE!

1 Vote

https://www.youtube.com/watch?v=3K1g0Okv50E&featur...

He is talking about it now

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Because I’m a lucky idiot. Thank you for clarifying.

Originally posted by @Mike D'Arrigo:

Originally posted by @Aram V.:

I just have to step in and say something. As a former customer of Morris Invest (purchased 2 properties in Michigan). My experience with them was for the most part positive. I since sold the properties because of the property management company assigned to me (MarketPlace Homes) - got fed up and cashed-out... Rant for another forum.

I think where MI got burned was in Indiana. I posted a link to a MI YouTube video here a couple of months ago where Clayton admits “a company” (allegedly OceanPointe) were working under false pretenses.

MI aren't a FULL turnkey company - as in, they don't manage the properties. They Buy, Rehab and Sell only. So there are multiple necks to squeeze when purchasing from them.

Just like most turnkeys you're going to pay top dollar on the homes, so there is little to no room for BRRRR, and the properties they sell are below 60K - so most banks wont put a mortgage on them. I had to find that out the hard way.

Finally, I don't believe Clayton and Natalie are Sociopaths. I really believe they are doing their best. Even though my last two purchases were not with them, if it wasn't for Clayton and Natalie Morris’ videos I would have never started investing.

Aram, I feel I have to jump in here and address some of your points. MI does not buy and rehab the properties, although they lead people to believe they do. They are/were promoters for Ocean Point who purchase contracts were executed with. You said that like most turn keys, you're going to pay top dollar for the home. There's one big difference. With a reputable turn key company, you will pay full market value for a fully renovated property. I'm surprised that as a MI client, you don't understand their organizational structure and are not aware that they were intertwined with Ocean Pointe. Ocean Pointe is the owner of the properties that they market. MI did not get burned by Ocean Pointe. They were in bed together.

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Originally posted by @Phillip Whitlow:

As for your final point, I agree wholeheartedly. To call them sociopaths would be to imply that there's an underlying mental illness to blame for their behavior and I have no intention of letting them off that easily.

lol Exactly - I'm not blaming a mental illness on their behavior. I too remember MI's earlier videos, Clayton's saying it's "hands off" investing. Nothing can be further than the truth.

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Originally posted by @Jay Hinrichs:

Originally posted by @Aram V.:

I just have to step in and say something. As a former customer of Morris Invest (purchased 2 properties in Michigan). My experience with them was for the most part positive. I since sold the properties because of the property management company assigned to me (MarketPlace Homes) - got fed up and cashed-out... Rant for another forum.

I think where MI got burned was in Indiana. I posted a link to a MI YouTube video here a couple of months ago where Clayton admits “a company” (allegedly OceanPointe) were working under false pretenses.

MI aren't a FULL turnkey company - as in, they don't manage the properties. They Buy, Rehab and Sell only. So there are multiples necks to squeeze when purchasing from them.

Just like most turnkeys you're going to pay top dollar on the homes, so there is little to no room for BRRRR, and the properties they sell are below 60K - so most banks wont put a mortgage on them. I had to find that out the hard way.

Finally, I don't believe Clayton and Natalie are Sociopaths. I really believe they are doing their best. Even though my last two purchases were not with them, if it wasn't for Clayton and Natalie Morris’ videos I would have never started investing.

same scenario though in Jacksonville with junk being sold to investors. there is no way you can give them any benefit of the doubt.. they represented themselves as the owner and sellers when they weren't..

Yes, I almost forgot! That also happened on the 2nd property I purchased. Found out when I saw the closing docs that they were NOT the original owners. Maybe thats part of their business model - but I didn't' appreciate the shade... and it's one of the reasons why I do not invest with them anymore.

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I appears Clayton Morris Indirectly responded to the Ocean Pointe ordeal in his LIVE video YouTube today. See link

https://youtu.be/B6SkfORuaAA?t=3902

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Originally posted by @Paul Defngin:

Originally posted by @Matt M.:

@Rich Hupper I am a self employed contractor 15 years now. Back in 2010 I tried to buy a house for myself to live in. Foreclosure, $80k, 750 credit score, I had full 20% down. I couldn’t get a loan to save my life. Ended up having to have a non-occupant co-borrower co-sign for me. Got married in 2014, we bought a house together, but only my W2 wife on the mortgage. I then sold the old house, bought a rental property for cash. It’s to difficult anymore. I’d love to get a loan on my rental to buy another, I’m just not sure if I’m up to the task of trying to qualify. Gone are the days of no-doc stated loans. For those of us that actually paid our bills, they were awesome.

If you’re looking to buy a residential investment property, there are mortgage program available that allows you to qualify based on rental analysis to determine property cash flow. Personal income is not required to qualify. That said you will be subject to higher interest rates, costs, and higher down payment, than the standard conventional loans but it is possible. These are not Hard Money Loans.

Hi Paul , what lenders who do you recommend that have this type of cash flow mortgage program?

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Originally posted by @Exavier Hamilton:

You can go the private money route. Most people who are self employed typically end up there.

Private money is typically for getting the deal in the short term. I have yet to see a private money lender do a 15yr or 30 yr term loan.

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All Forum Posts by: Aram V.

Aram V. has started 11 posts and replied 62 times.

Post: Credit Score 715 & 554

Post: Morris Invest and Clayton Morris Review

Post: Morris Invest and Clayton Morris Review

Post: Morris Invest and Clayton Morris Review

Post: Morris Invest and Clayton Morris Review

Post: Morris Invest and Clayton Morris Review

Post: Morris Invest and Clayton Morris Review

Post: Story with Morris Invest

Post: Lets hear from the self employed

Post: Self Employed - Less than 2 yrs