All Forum Posts by: 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. 

 Hi Richard, 

Would you be willing to share your contact information to get a hold of Clayton? I am in a similar situation where I have plenty of untied ends and not getting anywhere with repeated emails and calls to the office staff.  Last effort would be to try and escalate if you say he gets back to you, it is worth a try. 

@Rob Willson I agree with a lot of your insights on the Morris Invest process so far. I am in the middle of the process with a purchase and have experienced their communications, updates and follow-through to be an area they really need to work on. 

I really want them to pull through and have not completed the process yet so I have kept details out of the public forums up to this point and most likely will keep my experience off the forums unless there are huge findings that go uncorrected when we have an independent inspection after the rehab is done.

I am a rookie so by no means a pro and know all the steps \ needed some hand holding at steps. I took a chance on them so I hope they deliver. 

It would be great to talk with Clayton and provide a some constructive feedback. I think the service he sells on videos and podcasts is great but has a misalignment with what Morris Invest provides.  

Again, I am hopeful for a positive success story when it is all done. My plan was to be a repeat customer if the experience IS what Clayton sells. 

@Lucas Hammer It sounds like I was on the right path to begin! 

(Full disclosure, it's actually a 403B but for larger discussion and future member searches I indicated 401K as it's very close cousin)

@Tom S. Noted!

The job is pretty stable but it is always a possibility. The plan is to find a conventional loan as fast as  possible to replace the 401k money. 

At the risk of it being a rookie question - I didn't find anything in search that directly scratch the itch so I figured I would throw it out there for opinions here. 

Background: New to investing - this will be the first buy-and-hold rental property with the intent to repeat after I have my feet wet. 

I can pull $50K at a 5.25% from 401K or pursue a HELOC from my primary for around the same amount. The intent is to buy the property and then shop for a loan on the rental to repay the cash to either the 401K or HELOC.

Are they both viable options or do most pursue one more than the other (or another path when starting out)? 

I GREATLY appreciate the feedback and patience with the questions.

Excellent input from everyone and I wanted to say thank you for the information. I think our best bet will be to establish an LLC in the state we plan to hold rentals in. More specifically...

Thank you @James Wise for the warm welcome. I spend a lot more time reading than posting but as things progress, I am sure more posts will come. 

Thank you @Will Barnard - Great Advice and how we will proceed!

Thank you @Vincent V. for your great advice as well (had no idea... but now I know!)

Thank you @Terrell Garren for the Youtube mention - Youtube can sometimes be hard to get specific info but always a GREAT resource. 

Thank you @Georgui Kasaev for the guidance - As there are updates, i will post here. 

Thank you @Lance Robinson  for the input - All cash purchases so good to know on the financing detail IF we ever decide to go that route. 

Hello BP members. Newly motivated to get rental property under my belt with all investments held inside LLCs.

I plan to relocate to Texas within the next year but looking at Morris\ Memphis Invest and other Turnkey providers for rentals with the potential of some being in other states. 

My Question: will the LLC holding a property need to established in the state that the rental is in or can I assume all of the LLCs in a single state (Texas, for example)?

Thanks in advance for any guidance and advice.