Turnkey Company Feedback

12 Replies

I have looked into two Turnkey Companies because my work schedule is hectic and I don't have time to get my first few houses off the ground. I am looking into Memphis Invest and Morris Invest. I need to know if anyone has any feedback on these two companies. Also, I live in the Galveston County area and wanted to know if anyone recommends any turnkey companies in my area or anywhere around the country. Thanks.

https://www.bbb.org/us/nj/madison/profile/real-estate-investing/morris-invest-0221-90183263/complaints

https://www.nytimes.com/2019/09/10/business/clayton-morris-indianapolis-fox-news.html

https://www.biggerpockets.com/forums/311/topics/689433-clayton-morris-morris-invest-house-of-cards-starting-to-fall

Check out these links and threads on Morris Invest. The founder Clayton Morris has now fled to Portugal. I haven't used either, but have heard Clayton say extremely misleading things on his podcast aimed to sell people on buying his turnkeys as opposed to investing elsewhere. 

I have heard generally good things about Memphis Invest. One of the founders @Chris Clothier has been on the podcast a few times. I'd recommend you check out his episodes. Which can be found here

https://www.biggerpockets.com/blog/bp-podcast-224-building-process-to-buy-17-deals-week-with-chris-clothier

https://www.biggerpockets.com/blog/2013-07-11-bp-podcast-real-estate-business-scalable-clothier

https://www.biggerpockets.com/blog/2015-05-14-bp-podcast-122-5-myths-holding-investors-back-from-real-estate-greatness-with-chris-clothier

@Brian Troquille  Woah, woah, woah. Be careful in Indy with Morris Invest. I have been assisting some folks here in Indy clean up the mess they were left with in result of doing business with Morris Invest/Oceanpointe Investments. 

Although you have a busy schedule it is still possible to pick up properties without having to go through a turnkey company. While there is nothing wrong with migrating towards the turnkey option... you need to carefully conduct your due diligence on each operation. There are positives and negatives associated with either direction of turnkey or buying off the open market with a broker.

For Memphis check out Martel Turnkey and for Indy if you want to pm me I will send you over a few others. Hope this helps!

Cheers,

 

Originally posted by @Brian Troquille :

I have looked into two Turnkey Companies because my work schedule is hectic and I don't have time to get my first few houses off the ground. I am looking into Memphis Invest and Morris Invest. I need to know if anyone has any feedback on these two companies. Also, I live in the Galveston County area and wanted to know if anyone recommends any turnkey companies in my area or anywhere around the country. Thanks.

Research research! I believe Morris got into some trouble lately. I would also look at companies do it all in-house. Ideally, you want a Turnkey provider that owns the home first, renovates it in-house, places a tenant BEFORE closing, and then does the management after you purchase it.

Try looking here:

Assessing the Risk of a Turnkey Real Estate Company



5 Keys to Turnkey Real Estate Investing

 

@Brian Troquille

I have invested in Turnkey with MemphisInvest for several years, and currently own 7 rentals that they manage. I can say from first hand experience that they are outstanding.

They support you completely through the purchase and closing process, and also keep the leasing and property management in-house and controlled by them. They are very proactive in communicating and reaching out.

Chris Clothier is on BiggerPockets frequently answering questions and discussions turnkey.

Cleveland is doing a lot to bring in business and grow the economy Check out turnkey in that city.

Originally posted by @Brian Troquille :

I have looked into two Turnkey Companies because my work schedule is hectic and I don't have time to get my first few houses off the ground. I am looking into Memphis Invest and Morris Invest. I need to know if anyone has any feedback on these two companies. Also, I live in the Galveston County area and wanted to know if anyone recommends any turnkey companies in my area or anywhere around the country. Thanks.

It has been demonstrated to my satisfaction over the last year that Clayton Morris of Morris Invest knowingly headed up a Ponzi scheme in Indianapolis and has repeatedly brokered real estate without a license. @James Wise of Holton-Wise Investments and also a regular Bigger Pockets contributor has investigated the allegations in his video below in what I believe is the most thorough look at the scandal that has been produced so far.

Is Fox News Anchor Clayton Morris a Fraud? | The Morris Invest Allegations - Landlords From Hell 2

@Brian Troquille

Honestly, If you don't have any time to do basic research REI may not be a good fit for you. Index funds are made for people with no time or interest in something off the beaten path like REI. At least with stocks you can't be underwater day 1.

Also, you’d be better off picking up a drug habit than invest with Morris invest. We had clients lose 100k+ because of that scam.

Good luck!

@Brian Troquille , check out Mid South Home Buyers in Memphis, TN.  I have several houses with them.  They have a long waiting list, but there’s a reason for that.  

Originally posted by @Brian Troquille :

I have looked into two Turnkey Companies because my work schedule is hectic and I don't have time to get my first few houses off the ground. I am looking into Memphis Invest and Morris Invest. I need to know if anyone has any feedback on these two companies. Also, I live in the Galveston County area and wanted to know if anyone recommends any turnkey companies in my area or anywhere around the country. Thanks.

Please do not use Morris Invest 

@Brian Troquille - as others have said, please avoid Morris Invest. The principle, Clayton Morris, recently relocated to Portugal to avoid litigation from his investors. If you search BP for Morris Invest you’ll find the reasons why. Memphis Invest on the other hand is a completely different story and I’d highly recommend them. I own 2 properties that I’ve bought through them and they currently manage. They’re an excellent company and it’s about as passive as turnkey companies come. I own other properties through other turnkey providers and Memphis Invest is by far the best. My best to you and your investing career.

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