Turnkey Company question. Anyone heard if Morris Invest Co?

7 Replies

a Turnkey company keeps showing up on my FB page, does anyone have any experience or heard of Morris Invest? I wanted to buy my first investment and looking to Buy & Hold for cash flow, I live in the Seattle area and homes just skyrocketed in prices so I'm considering using a turnkey to go out of state. I know  theres a lot of pitfalls into doing that thats why I still haven't made my move into purchasing an investment.

@Ryan Santos I had Clayton on my podcast and I spoke to him and really like him as a person. I have some issues with sfh turnkey homes in this sellers market. One thing is make sure you get a home appraisal before buying. A lot of turnkeys are being sold above retails from when I was buying these.

@Ryan Santos Search the forums, this topic (and company) has been addressed about 6,394 times.

@Ryan Santos - Regardless of what company you choose, here are a few things to look for in the market that you decide to invest in. I believe this is as equally important as the company you choose...

1- Population over a million and good growth rate. This ensures that there are plenty of available houses (with an approximate 3% foreclosure rate, there are about 3000 houses at auction each month), renters to choose from and that the city is growing rather than stagnate or losing population. Good markets didn't drop during the 2008 crash...

2- Cheap Houses. Make sure you get at least the 1% rule meaning $1000 of rent for each $100k of purchase. This should also ensure youre getting about 8% return on your money.

3- Business Friendly and Credit worthy State. Look at how easy it is to set up an LLC, the costs of maintaining the business and the cost and timing of evicting a tenant. Also look for states and cities that have a good credit rating which ensures that they will be pouring money into revitalization which increases jobs, growth, appreciation and rents.

4- Jobs. Look for cities where there is a good mix of manufacturing, warehousing and overall good job market with low unemployment. it also ensures that taxes won't go up in the event that a city starts going bankrupt. (http://www.zerohedge.com/news/2017-10-05/these-two-charts-depict-which-cities-will-file-bankruptcy-next)

Originally posted by @Ryan Santos :

a Turnkey company keeps showing up on my FB page, does anyone have any experience or heard of Morris Invest? I wanted to buy my first investment and looking to Buy & Hold for cash flow, I live in the Seattle area and homes just skyrocketed in prices so I'm considering using a turnkey to go out of state. I know  theres a lot of pitfalls into doing that thats why I still haven't made my move into purchasing an investment.

Turnkeys can be great to help you get into another market when your's has taken off like that. I do not know much about that company. Ideally, you want to make sure the Turnkey company is localized (operates in one market so they know it well) They should own, renovate, and manage the property all in house and not use any third parties to get things done.

Try looking at:

What to Ask When Working With a Turnkey Provider

and

The Best Types of Markets for Profitable Turnkey Properties

there are exhaustive threads on this company.. but it appears from what others have posted.. that the properties provided are D class and very inexpensive.. and you must pay cash and then let them rehab ( which is what a lot of folks have commented on)..

IMHO  D class mid west is not appropriate investment for out of state folks.. so caution

Thank you for all your inputs! I think I will try to find a deal at my local State (WA) for now, I don't feel very comfortable going OOS and Turnkey as my first deal. I really appreciate the inputs :)

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