@Jay Hinrichs I think there are two ways of looking at what Morris Invest does. We listened to their story, "we rent to nurses and nice middle income folks," but when we went out for the tour, we decided that was not the turnkey we wanted to invest with.
Our first concern was the walk throughs, we saw over a dozen of their properties completed, in the process and about to get started. Most left much to desired, none of which I would live in or allow my 79 old mom to live in.
But I understand that all people need somewhere to live, and not everyone can afford what I would consider acceptable. However, a home like may be a beautiful place to live for someone under different circumstances.
I am a restaurant owner, and my response is there's a price point and a palate for everyone, and I think it's the same with REI. Some investors may see it as a business, and their only concern is making a profit. For them, what the place looks like, smells like, or feels like doesn't matter as long as the checks cash.
That's not the kind of landlords we want to be, so we skipped on them and found another company. Ultimately, it's not for us to judge how investors want to run their properties. However, what I think is questionable behavior, is Morris' marketing practices.
The biggest RED FLAG for us was when we asked about evictions and their reply was, "they're out in six days, but we don't have a lot of issues. We have Hells Angels and big ex gang bangers to collect rents for us when they're late." As we continued to chat, we learned that many, many of their tenants are poor and on fixed incomes, some are older people and some are in sad straits to say the least. Had we known this, we would have saved the trip from CA to Indie.
It was a good lesson learned. Hope this helps. To "TRUST BUT VARIFY"
Wishing all much health and success.
