James Wise Clayton Morris Trailer video

111 Replies

For all of you who did not catch this Trailer video that James posted on U Tube I was able to watch it.. 

I found it well done.  And was even more amazed that Jim got Clayton on the phone all the way from Portugal.

other than a few F bombs by both parties.. it was and is well done.

Even a little Cameo from myself LOL..

Jim has gotten videos and audio testimony from industry experts and actual victims as well as when you see it a phone call with Clayton himself.. I am not sure if there is more Audio on Clayton that I saw on the trailer.

But suffice it to say.. it was Vintage Morris  IE just pretty much exactly how his wife portrays them as victims.

Clayton goes on to mention other Indy providers that were in the same mess with Whalen .. And then proceeds to question Jim's investigative reporting bona fides.. And Clayton wanted to know what business was it of Jim's to be doing this at all.  And Clayton mentioned me as well as I have been from the very first post pretty straight forward that the model as sold by Morris even if all the rehab funds had not been diverted and you had ponzi like rental payments being made , that the model is and was flawed from day one and would never have worked as he described.. 

The big one though was When Jim says to Clayton  " But dude your in Portugal how does that make you look"  no answer.. 

For sure one thing is certain he is no dummy and I am sure he talked to many lawyers about where he could go to avoid massive litigation and potential criminal and then set up shop and keep selling whatever he is selling to new folks.

U still see it on any social media when his wife gets on and does the Poor this is not fair to Clayton or I routine.. there will be 50 people singing their praise.. Of course I Bet not one of them lost their entire life's savings like one of the investors that Jim had interviewed and is on the trailer.. 

I commend Jim for his work in this .. It will have benefits throughout the industry showing and teaching people about OOS investing and being led by someone with a lot of fame but no real estate experience to speak of... 

Lastly this is a sad case Morris with his background could have been one of the larger resellers of rentals in the US no doubt right up there with the other big resale companies we all know about.. And I can tell you from first hand experience all those other resale companies ran into the same thing Morris did.. but the difference is they realized it quickly and cut off those bad actors by and large. 

@Jim K. @James Wise    Jim I tagged you on accident but in reality you could write the how to book on how to navigate those lower end assets. 

Originally posted by @Jay Hinrichs :

For all of you who did not catch this Trailer video that James posted on U Tube I was able to watch it.. 

I found it well done.  And was even more amazed that Jim got Clayton on the phone all the way from Portugal.

other than a few F bombs by both parties.. it was and is well done.

Even a little Cameo from myself LOL..

Jim has gotten videos and audio testimony from industry experts and actual victims as well as when you see it a phone call with Clayton himself.. I am not sure if there is more Audio on Clayton that I saw on the trailer.

But suffice it to say.. it was Vintage Morris  IE just pretty much exactly how his wife portrays them as victims.

Clayton goes on to mention other Indy providers that were in the same mess with Whalen .. And then proceeds to question Jim's investigative reporting bona fides.. And Clayton wanted to know what business was it of Jim's to be doing this at all.  And Clayton mentioned me as well as I have been from the very first post pretty straight forward that the model as sold by Morris even if all the rehab funds had not been diverted and you had ponzi like rental payments being made , that the model is and was flawed from day one and would never have worked as he described.. 

The big one though was When Jim says to Clayton  " But dude your in Portugal how does that make you look"  no answer.. 

For sure one thing is certain he is no dummy and I am sure he talked to many lawyers about where he could go to avoid massive litigation and potential criminal and then set up shop and keep selling whatever he is selling to new folks.

U still see it on any social media when his wife gets on and does the Poor this is not fair to Clayton or I routine.. there will be 50 people singing their praise.. Of course I Bet not one of them lost their entire life's savings like one of the investors that Jim had interviewed and is on the trailer.. 

I commend Jim for his work in this .. It will have benefits throughout the industry showing and teaching people about OOS investing and being led by someone with a lot of fame but no real estate experience to speak of... 

Lastly this is a sad case Morris with his background could have been one of the larger resellers of rentals in the US no doubt right up there with the other big resale companies we all know about.. And I can tell you from first hand experience all those other resale companies ran into the same thing Morris did.. but the difference is they realized it quickly and cut off those bad actors by and large. 

@Jim K. @James Wise    Jim I tagged you on accident but in reality you could write the how to book on how to navigate those lower end assets. 

 To answer your question about whether or not there is any more of the phone conversation I had with Clayton Morris in the full film, yes there is. That call lasted roughly a half hour.

And for those who are upset that the trailer is temporally down, stay tuned as I have some interesting updates on that getting published later today. You'll all have the opportunity to assist in the legal fight Clayton Morris has began with me to suppress this information.

Well I see you Jim as a street fighter so will be interesting to see how this all unfolds..  I just have to also think American Greed picks this up as some point.. 

Originally posted by @Jay Hinrichs :

For all of you who did not catch this Trailer video that James posted on U Tube I was able to watch it.. 

I found it well done.  And was even more amazed that Jim got Clayton on the phone all the way from Portugal.

other than a few F bombs by both parties.. it was and is well done.

Even a little Cameo from myself LOL..

Jim has gotten videos and audio testimony from industry experts and actual victims as well as when you see it a phone call with Clayton himself.. I am not sure if there is more Audio on Clayton that I saw on the trailer.

But suffice it to say.. it was Vintage Morris  IE just pretty much exactly how his wife portrays them as victims.

Clayton goes on to mention other Indy providers that were in the same mess with Whalen .. And then proceeds to question Jim's investigative reporting bona fides.. And Clayton wanted to know what business was it of Jim's to be doing this at all.  And Clayton mentioned me as well as I have been from the very first post pretty straight forward that the model as sold by Morris even if all the rehab funds had not been diverted and you had ponzi like rental payments being made , that the model is and was flawed from day one and would never have worked as he described.. 

The big one though was When Jim says to Clayton  " But dude your in Portugal how does that make you look"  no answer.. 

For sure one thing is certain he is no dummy and I am sure he talked to many lawyers about where he could go to avoid massive litigation and potential criminal and then set up shop and keep selling whatever he is selling to new folks.

U still see it on any social media when his wife gets on and does the Poor this is not fair to Clayton or I routine.. there will be 50 people singing their praise.. Of course I Bet not one of them lost their entire life's savings like one of the investors that Jim had interviewed and is on the trailer.. 

I commend Jim for his work in this .. It will have benefits throughout the industry showing and teaching people about OOS investing and being led by someone with a lot of fame but no real estate experience to speak of... 

Lastly this is a sad case Morris with his background could have been one of the larger resellers of rentals in the US no doubt right up there with the other big resale companies we all know about.. And I can tell you from first hand experience all those other resale companies ran into the same thing Morris did.. but the difference is they realized it quickly and cut off those bad actors by and large. 

@Jim K.@James Wise    Jim I tagged you on accident but in reality you could write the how to book on how to navigate those lower end assets. 

Jay, Jim, I was lucky enough to catch the trailer. As you well know, Jim, you and I disagree on some things. But I am compelled to say that the most admirable thing about you is an unquestionable, rock-solid honesty about real estate that makes you the perfect guy to get someone like Clayton Morris on the phone and ask him some hard questions. If you could use another volunteer reviewer with a bit of copyediting experience in the publishing industry, please count me in.

Jay, I joined the site after quite some time lurking and not committing. I remember some of your first posts on this years ago. First the start, you knew this had to be off somehow. At the time, I wasn't quite sure, didn't have quite the experience necessary in this asset category to understand your certainty. But the years have passed, the complaints have come steadily, the absolutely heartbreaking stories have multiplied,  the predictions you made years ago have all come true.

Jim, I think your documentary is going to end up as a must-watch specialist training video on turnkey real estate investing, something everyone interested in putting money into these kinds of assets is going to be pointed toward as a cautionary warning. An act of good. I wish you the best of luck completing it and dealing with the Morrises being the Morrises about trying to keep you from promoting and getting it out.

 

Originally posted by @Jim K. :
Originally posted by @Jay Hinrichs:

For all of you who did not catch this Trailer video that James posted on U Tube I was able to watch it.. 

I found it well done.  And was even more amazed that Jim got Clayton on the phone all the way from Portugal.

other than a few F bombs by both parties.. it was and is well done.

Even a little Cameo from myself LOL..

Jim has gotten videos and audio testimony from industry experts and actual victims as well as when you see it a phone call with Clayton himself.. I am not sure if there is more Audio on Clayton that I saw on the trailer.

But suffice it to say.. it was Vintage Morris  IE just pretty much exactly how his wife portrays them as victims.

Clayton goes on to mention other Indy providers that were in the same mess with Whalen .. And then proceeds to question Jim's investigative reporting bona fides.. And Clayton wanted to know what business was it of Jim's to be doing this at all.  And Clayton mentioned me as well as I have been from the very first post pretty straight forward that the model as sold by Morris even if all the rehab funds had not been diverted and you had ponzi like rental payments being made , that the model is and was flawed from day one and would never have worked as he described.. 

The big one though was When Jim says to Clayton  " But dude your in Portugal how does that make you look"  no answer.. 

For sure one thing is certain he is no dummy and I am sure he talked to many lawyers about where he could go to avoid massive litigation and potential criminal and then set up shop and keep selling whatever he is selling to new folks.

U still see it on any social media when his wife gets on and does the Poor this is not fair to Clayton or I routine.. there will be 50 people singing their praise.. Of course I Bet not one of them lost their entire life's savings like one of the investors that Jim had interviewed and is on the trailer.. 

I commend Jim for his work in this .. It will have benefits throughout the industry showing and teaching people about OOS investing and being led by someone with a lot of fame but no real estate experience to speak of... 

Lastly this is a sad case Morris with his background could have been one of the larger resellers of rentals in the US no doubt right up there with the other big resale companies we all know about.. And I can tell you from first hand experience all those other resale companies ran into the same thing Morris did.. but the difference is they realized it quickly and cut off those bad actors by and large. 

@Jim [email protected] Wise    Jim I tagged you on accident but in reality you could write the how to book on how to navigate those lower end assets. 

Jay, Jim, I was lucky enough to catch the trailer. As you well know, Jim, you and I disagree on some things. But I am compelled to say that the most admirable thing about you is an unquestionable, rock-solid honesty about real estate that makes you the perfect guy to get someone like Clayton Morris on the phone and ask him some hard questions. If you could use another volunteer reviewer with a bit of copyediting experience in the publishing industry, please count me in.

Jay, I joined the site after quite some time lurking and not committing. I remember some of your first posts on this years ago. First the start, you knew this had to be off somehow. At the time, I wasn't quite sure, didn't have quite the experience necessary in this asset category to understand your certainty. But the years have passed, the complaints have come steadily, the absolutely heartbreaking stories have multiplied,  the predictions you made years ago have all come true.

Jim, I think your documentary is going to end up as a must-watch specialist training video on turnkey real estate investing, something everyone interested in putting money into these kinds of assets is going to be pointed toward as a cautionary warning. An act of good. I wish you the best of luck completing it and dealing with the Morrises being the Morrises about trying to keep you from promoting and getting it out.

 

Yea it's likely going to be a bit of a battle getting it all out there but my team and I anticipated this being that Clayton is no stranger to the media industry. To be honest the fact that he is trying to suppress it is only making it a much larger and deeper story. I have seen an uptick in those who want to get their story on the record since the trailer got pulled down. There are a lot of people who are tired of being silenced who are banding together as a unit. I didn't know this prior to starting this project, but there are several groups who've banded together to support one another and things of that nature. 

For example I interviewed a woman yesterday. She was explaining to me how she was told about a fire at one of her vacant Morris properties in March of 2018. Being objective I explained that things like that do happen and that isn't really an issue with Clayton......Then she clarified for me that she was told about the fire in March 2018 but it had actually occurred in January 2018. It was extremely odd that it was still vacant in January 2018 considering that she was told in July 2017 that the property would be tenanted as soon as the replacement windows they were waiting on came in.

 

I had Clayton on my podcast years ago and was shocked that he was selling properties in the hood. I'd been down that road and knew the perils of it. I asked how he was making that work as it sounded risky to me. He said it was going great. (I thought, there must be something he doesn't know quite yet...)

In 2010, a large group of Australians came to me begging for $10,000 properties that rented for $900/month, as they'd seen on TV somewhere. I told them if I could find such a thing, I would buy it too! :-) 

We ended up touring Kansas City together and met with several "turnkey" providers. One of them was a property manager in the inner city of KC. On paper, he had these kinds of returns. I warned the Aussies in a follow up email that low-income, high crime areas were not recommended by me or RWN. They wrote back saying it was none of my business what they do... After all, the homes were so very cheap  - often less than $10,000 - what could go wrong? (Everything!)

Several bought these rentals, in spite of my advice. Not many months later, they contacted me to tell me it was a nightmare. The properties had high turnover, and every time they did a make-ready, items would get stolen. The repair costs from damage and theft were so high they begged to sell these inner-city properties. But who would buy?

They tried to blame me but I reminded them of the email I sent them. Investors really do need to take responsibility for the choices they make. They can sue all day long, but in the end, they won't get their money back in most cases. Does Clayton have insurance? I doubt it. While he should have been on top of the situation, so should the investors. Did they visit the properties, perform inspections and appraisals and rent comps? They never should have paid for renovations before they were done. 

I don't mean to sound harsh, but I am quite Republican in this regard. People, especially investors, need to take responsibility for the choices they make. Many of these losses could have been avoided with property due diligence. A Fox TV host does not make someone a savvy real estate investor. 

Some consider me a "celebrity" too but this doesn't mean that just because I recommend something, investors shouldn't also do their proper due diligence. A guy bought some crappy properties through a provider we no longer work with. He failed to visit the property, get inspections or appraisals. He didn't do any investigation at all. And when things didn't work out, he wanted to blame me. I didn't even know he bought them! He never asked for my advice. We were never paid any kind of referral fee.

I hate seeing investors lose money. I have lost money from trusting the wrong people, and it stinks. But I never blamed anyone but myself.

@Kathy Fettke   I don't think he started selling properties until about 2016 or so maybe 2015.. 

but as I said above.. this has happened to anyone who has been in this business long enough 

the difference is you find that out quickly and you cut the bad actors off.. I believe he was just very green and very inept his model of 50k rentals would never work then and will not work in the future.. at least for OOS investors who have to hirer everything out. those props are only appropriate for local hands on landlords that have the thick skin to deal with those areas.  He knew the score well in advance but Greed does a funny thing.. you start selling 30 to 50 homes a month and making 5 to 7k a home you can do the math.. its hard to cut that type of income off .. 

Many turn key folks I have funded over the years started with the highest yields but soon gave up.. 

And for sure on site visits would have stopped this stuff along with a  true turn key model IE house all done before you close and verified by lender and home inspector.. 

When this stuff first came up on BP one Member Tyler was posting monthly on his investment and he laid it out fully rehabbed house that the rehab budget was 9k.. right then I knew it was just smoke and mirrors.. 

WE all live and learn.. Mr and Mrs Morris still have a long way to go.. but I guess if being in Exile in Portugal full fills them then I guess that's there choice they are awful young to be going through this .. and the magnitude of the loss's are staggering.. 


Kathy  PS I was on a con call with one of your folks who works in your syndication department I am looking to put some equity into a few of the ATL new constructions that I think you will end up selling.. so its a small world out there.

@Kathy Fettke No offense, but you sound like you don't really know or understand the level of fraud that has taken place in this thing.  If you do understand, are you saying that when people are defrauded, they should just blame themselves, suck it up and take the loss and move on?  No holding the fraudster accountable?  I doubt you feel this way.  

The Morris Invest/Oceanpoint situation has been well documented.  It goes well beyond irresponsible investors.  Or poor real estate asset decisions.  Sure, due diligence was lacking in many cases here, but the perpetrators knowingly stole money from investors.  They lied over and over to every investor.  They committed wire fraud.  They were running a Ponzi scheme.

Regardless of the ignorance or gullibility of the investors here, the criminals should be held accountable.

This thread is like TNT - "We know drama"...LOL!  I searched all over the web for the video but no traces could be found.  Now, this is what a call unscripted reality TV!!

I had a feeling Mr. Morris would try to block Mr. Wise video. It is just a horrible situation for these investors I hope they get something back. Lower safer returns with ethical folks and people doing thier homework is a good strategy.