All Forum Posts by: Jim Pfeifer

I use Tribevest regularly for group investing - I am in five different tribes. It is an excellent way to invest with a group of people and allows you to get into more deals for more diversification, it also effectively lowers the minimum investment amount for syndications as you are sharing it with others. The platform makes it very easy to form an LLC and get a business bank account - and most importantly you can discuss investments and vote on funding and investing decisions. Tribevest really streamlines the group investing experience!

@asia lipanovich send me your email address and I will send you the info.

Hello!

I am considering selling my turnkey single family homes.  I would be up for selling them in a package or one at a time.  Can someone recommend a quality real estate agent who knows the Memphis market? Thanks!

Jim

See you in two weeks!!

I bought a property from Morris Invest - they are NOT a turnkey company.  They are a marketing company falsely selling themselves as a turnkey company.  Clayton says he has a turnkey operation but, at least in Indy, he did not do the purchasing, rehab, or management.  The problem (aside from hundreds of people losing A LOT of money) is that Clayton talked on his podcast and to people personally and said that HIS company/team was buying houses and rehabbing them and managing them.  That wasn't true.

I do not believe he set out to intentionally defraud investors, but it definitely turned into a Ponzi Scheme and he knew it and didn't stop it.  The only reason it came to light was someone from his "team" forgot to bcc on an email and so we all saw everyone's email addresses and we started talking.  

This disaster is his responsibility but he is passing blame to the company that actually did the buying, rehabbing (sometimes) and managing.

I was lucky - I got out after I found out I had two leases for one tenant - one clearly fraudulent.  They actually purposefully paid me more rent than they were collecting on my property for over a year until I discovered the fake lease.  

What a disaster. Needless to say, I do not invest with MI anymore and I have no plans to do business with Clayton again.

Thanks for posting - see you next month!

Click the link in the original post for meeting details - hope to see you there!

I will be there - see you on the 17th!!

Does anyone know of a good real estate attorney in Memphis? I need to set up an LLC. Thanks!

Hello,

I own a single family rental in Indy that I bought for cash and I would like to finance to take out some equity. The property should appraise for between $50,000 and $60,000 and I am having trouble finding a bank to do a loan on a valuation so low. I would prefer a portfolio loan as the property is titled in my LLC and I don't want to use one of my 10 conventional loans on a property so small. Has anyone worked with a good portfolio lender who might be able to help me? Thanks!

Jim Pfeifer