All Forum Posts by: Helder M Da Silva Santos

Thank you for the comments. I now know about Morris. Does anyone know if we decide to work with a different property management company if they can take over our property since the one we have right now has not done anything to collect rent?

Hello everyone. 

This is my second post. Thanks for the feedback on my previous post.

We have a rental house that was purchased thru Morris Invest, the property is located in Detroit MI.

We purchased the house in March/April, and up until a couple of weeks we had no idea what was going on with the house. We were told the house was undergoing renovation and it would be leased after completion. 

well, after a few emails and the assistance of one of BP members we found out the house is actually occupied.. The information we have from the PM is that they have attempted to contact the tenant to transfer the payment to them. Not sure if this means the house was rented previously or not, meaning that since we purchased the house we have yet to receive any payments.

We tried calling "our" Pm company several times, as well as email but the person rarely replies. We have a contract with them. Can we terminate the contract with the PM company and how do we get our money? 

Not sure if anyone had this experience working with Morris, but any information on what to do to go about this issue. This is our first investment property and we are definitely learning a lot. 

Thanks for reading 

Thank you for the additional information and suggestions.

Hello everyone.

New to BP, and i have learned a lot by reading different posts and watching helpful videos. So thank you for all you do here.

A little about me, I am married, just got our first baby, (one month old), and currently employed. 

My goal is to cut on the amount i work and stay home more with wife and help raise the baby. 

Currently we live in Seattle and are thinking about moving to a different state. We have no idea where to go to, but something warmer and affordable would be ideal, in a good neighborhood, so this is our first dilemma. - we have visited Austin and loved it there, and my wife loves Florida. 

We currently own a house in Seattle, we bought it 8 years ago, and we owe a little over $160k , i recently asked a bank institution for a HELOC loan and should be getting about $180k equity in the house to invest.

In the beginning of the year we purchased a house in Detroit thru Morris invest. Its payed for (with our savings) and we are still waiting to have the remodel completed and to get lit eased, the estimate for the lease given to us was $700 to $850. I noticed some posts here about trouble with what it feels like a scam from Morris invest, so I'm hoping we don't get in the same boat. 

At this point we don't know what to do because maybe we are afraid of loosing what we have built so far in savings and equity, but also because we have a new member of the family that we want to make sure he has a good future. We have been thinking about using the $180k and some of the savings and purchase a couple more investment properties and rent them. We have been looking on doing this our self or using roofstock or Morris or any other good turn key company. We have been looking at the Austin market which now is almost as expensive as Seattle or at the Florida market, Orlando, Tampa and Jacksonville to move and live and also invest. If we leave Seattle our house should rent anywhere between $1600 to $2000 a month and we pay $800 for the mortgage. 

If any of you is willing to advice or suggest on ideas and thoughts of what would be a good route to financial freedom and becoming a successful real estate investor.   

Thank you for reading,

Helder