All Forum Posts by: Jack Gibson

@Jessenia Munoz, thank you! My very first property was my first SFH that I purchased right out of college. We had a baby on the way, it was 2007, so we wanted to upgrade - great timing! So we couldn't sell it, we have just rented it for the last 10 years. Starting a year ago, I found my current source through a series of podcasts, then I purchased a property, which triggered a direct sales letter to me that showed me better returns, so I hopped on board with them a year ago and have been building up most of my inventory through them. PM me and I can get you some more details and suggestions on what to do.

@Jessenia Munoz great discussion, I'd like to add my own 2 cents here.  I started investing into real estate about 18 mos. ago, and original intent was simply buy and hold to create additional passive income. I LOVE passive income, it's what drove me to build my first networking marketing business.  My returns were so strong on the properties I bought, that I started telling my friends and network, and they jumped on pretty quick.  I received a referral credit towards my rehabs, and then quickly realized I could wholesale and flip to create cash quicker to then purchase buy and holds faster.  My ultimate goal is not to do wholesale or flips, although I do highly enjoy making deals and helping other investors.  My primary goal is buy and hold passive income - but I'm scaling so much faster doing both (I'm over 100 units as of now, next week a chunk of them will be sold and I'll rebuy). I have my primary business, my rental income, my wholesale, and my flip cash - all of that each month allows me to add a property or 2 every month - compounding how fast I grow the portfolio.  So, I don't think there's a wrong answer here, but there is definitely nothing wrong with MSI's - multiple streams of income - it's how most get wealthy.  Hope that helps!

The address is listed above and on the cashflow sheet - 626 Birch

Freshly rehabbed duplex located very close to downtown Indy.  Will rent very quickly with strong Property Management team.  Comes with 1 year home warranty on all major items.  Would prefer to sell before tenants are placed to make inspection process hassle free.    

Complete pics and cashflow sheet here:  https://www.dropbox.com/sh/n3crfjnt3ujf1o1/AABOr6S...

Rehab completed this week, this property is in a nice area and will rent quickly with strong Property Management team.  Quite honestly, great time to purchase before tenants are placed if you wish to order inspection.  

Cashflow sheet and complete pics here:  https://www.dropbox.com/sh/gpg26j1tz51chwd/AAAe3wi...

PM or call 269-369-9654

Jack Gibson

www.highreturnrealestate.com

15 Unit Package in Indianapolis, IN - must be sold in a package.  If you are interested in a smaller package similar to this, I can put that together based on your goals.  Properties are all rehabbed within the last 12 months, and I have not seen a single repair bill in 2016.   Excellent property management is in place, I have not received a phone call yet this year, either.   My motivation to sell the package is simply to start another rehab project on a new set of properties.  

Here are the numbers:

Sales Price:  $450,000 (Appraisal completed 3 mos. ago and I can send upon request)

Rents:  $7950/mo./$95,400 (14/15 units rented and leased)

PM 10%: 9,540

Taxes:  $5207

Insurance: $4804

Maintenance 5%: $4770

Vacancy 5%: already factored in, 1 unit is vacant. If you'd like to be more conservative, subtract another $5,000 off and your ROI is still 14.7%.

Net Cash Flow: $71,079 Cash on Cash ROI: 15.8%

Very detailed appraisal complete with exterior and interior pics, leases, multiple comps, income approach capitalization, and ACH rent disbursement statements - pretty much everything you would need to make an informed decision.  

Message me on BP or call me:  269-369-9654

thanks!

Jack Gibson

@Jay Hinrichs I appreciate your concern.  Wow am I sorry I chimed in!  I have a portfolio of buy and holds and I also wholesale and flip as well. The ones we offered a 2 year rent guarantee on was only a small subset of 10 homes, all 3 bed/2 full bath that rent instantly and have had almost no turnover.  We do not offer that on almost all homes.  I was not offering the guarantee, that was offered by an expert like yourself with 20 years in the Indianapolis market.  

I did not get on this post to promote my properties or get into a discussion on the sustainability of what I'm doing.  I have done my due diligence and anyone that would like can always make a field trip and do their own.  

@Stephen Vetek I appreciate you wanting all your questions answered and to do your due diligence.  For the 2nd time, I do not work for nor promote properties for Morris Invest. So it's simply not my job to answer the questions on this thread, I was simply submitting my own investor experience.   Thanks, and best of luck with your investments.  

@Stephen Vetek it's pretty simple, I'm too busy building 2 businesses, spending time with my 2 boys, and building my charitable fund to take the time to read and respond to all the comments.  I don't work for Morris Invest, so I have no interest in damage control, and I can't speak for him as to why he hasn't responded other than my first thought would be he's too busy actually helping his investors and growing his business to respond to negative comments.  But that's just a guess.  

As far as what Jay said, all I can say is, I haven't had a maintenance call or repair issue on any of my properties, this year.  Period.  Maybe your PM companies aren't as good, I don't know.  Sounds like you're mega successful so not sure what else to say to that.  

Why OceanPointe doesn't have a website, they don't need one to have a successful business.  Websites can be a lot of work to update and not everyone wants to devote resources to that.  

As an investor I have a lot of my own money as do a lot of my friends, business colleagues, people who I'm very careful to refer because my reputation is important to me - all under OceanPointe management, and we are all thrilled.  

I find it very interesting that the majority of negative opinions here about Morris Invest and Natalie and Bert of OceanPointe are from other turnkey competitors...  Who have never purchased their properties nor been on a tour.   The other opinions seem to be from people who didn't purchase property either but just couldn't be patient enough to wait for a property to become available.  There's a reason the properties are all cash and hard to get - they are great, so they're in high demand.  

I have personally purchased over $1.3 MILLION so I believe I'm a LOT more qualified then any of these expert opinions. I purchased property because the previous 4 deals I did, 2 with other turnkeys, were terrible experiences. With OceanPointe, it's been literally life changing. My properties rent out immediately, rehab is quick, cost effective, and done well, management is excellent, ROI's are killer, and I trust this team 100%. These are some of the most loyal, least greedy (I know what they make on every deal), kind, caring and humble people you'll ever do business with.

There are certain weeks where I can see that PM is slow to return calls, especially rent disbursement week (they put investors returns as top priority), or there are some weeks where they are selling a ton of properties - but they always, 100% of the time, deliver.  

You will not regret investing with Morris Invest and the PM will be exceptional.  His podcasts are very informative, he adds lots of value, he offers a great product that he invests in, and he barely pitches it on each podcast.  Not sure what the issue is with a podcaster promoting a product they believe in.   

Did anyone stop and think that not providing any appliances cuts down on the majority of your repair bills post buy?   In my home, the majority of repairs are for appliances, rarely or never for electrical, furnace, plumbing, roof, etc.   I haven't had a repair bill on 15 units for 1 year.  Incredible.  If this prevented tenants from renting, why does PM have a 6% vacancy rate?  

Just checked my bank account - my rent ACH just hit, completely passive and hassle free - and it was massive.  

Important to hear from an investor with a lot of my own money in the game, vs competitors looking to draw clients away.     Thanks for reading!