Specialist · Chicago · Member since 2018 · 23 posts · 7 votes
Hello all. My name is jamil and I’m a very green investor in the sense that I was stuck in analysis paralysis. I’m pushing myself to make the jump into rental property. I’m going to be working with fund and grow for funding and a company called Morris invest to purchase my first turn key rental property. I guess I would say my question would be if anyone has felt with them and what was they’re experience through the process? I currently reside in Chicago.
Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
8y
You buy one of Clayton’s slum houses you won’t have to worry about * analysis paralysis *.. ...you’ll be in *financial paralysis* when you realize you spent your savings on a dilapidated crack house in the worst area of Indiana
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
8y
@Jamil Rivera This thread will give you all the information you need to know. I don't know the exact status but there is a class action suit in the works against them in Indianapolis.
Specialist · Chicago · Member since 2018 · 23 posts · 7 votes
8y
Wow. That’s insane. And I’m here emailing one of their reps to buy. And he is saying they only want cash. Thank you for the heads up and the additional information.
Wow. That’s insane. And I’m here emailing one of their reps to buy. And he is saying they only want cash. Thank you for the heads up and the additional information.
there Is a saying in the south !!!
" they are very good at what they do " and that describes this company
Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
8y
You buy one of Clayton’s slum houses you won’t have to worry about * analysis paralysis *.. ...you’ll be in *financial paralysis* when you realize you spent your savings on a dilapidated crack house in the worst area of Indiana
Walnut Creek, CA · Member since 2015 · 3k+ posts · 2k+ votes
8y
this is a ticking time bomb, you're going to have a house worth much less than you paid for it... and you won't be able to get a regular loan. Then your credit card rates kick in.... and oh boy that's bad.
Managing Broker / Investor · Indianapolis, IN · Member since 2015 · 350 posts · 362 votes
8y
Unless you want to lose your money, sanity and a massive amount of time (like hundreds already have) stay away from all things related to Morris Invest.
Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
8y
Avoid all things Morris .. Philip Morris ..Morris invest ..even Morris the cat .. just avoid all things Morris like the plague .. this dude is bad news and grifts people out of their money
Flipper/Rehabber · Los Angeles, CA · Member since 2009 · 1k+ posts · 732 votes
8y
It’s kind of crazy Morris still has an active podcast .. the most recent episode title being
“How to Think like a Wealthy Investor “ ...
The title of the June 10th podcast is “The worst way to invest in real estate “ I can think of one big one he probably didn’t mention in there ..
I know he’s been on other podcasts recently as a guest too .
Flipper/Rehabber · Los Angeles, CA · Member since 2009 · 1k+ posts · 732 votes
8y
@Jamil Rivera
The BiggerPockets podcast is excellent .
I like the “Best Real Estate Investing Advice Ever “ podcast with Joe Fairless too he has a lot of great guests and asks great questions.
Real estate guys podcast is good . It’s a bit different format and they have have a lot of ads but its interesting as they often focus on the overall economy.
Specialist · Chicago · Member since 2018 · 23 posts · 7 votes
8y
@Joseph M.
I agree 100%. These two guys are insane. I like how they bring on so many different people to share their different real estate journeys good or bad. I’m on episode 164.
Concur with all of the advice in this thread. Stay away from Morris Invest at all costs. Your money will be lost. The house I bought in Indiana looks like something out of World War Z, now 7 months after I bought it. Morris Invest informed me that they will not reimburse me. Too bad, so sad.
Investor · shawnee oklahoma · Member since 2017 · 194 posts · 148 votes
8y
I am having a hard time understanding the real problem here.
Is it that Morris Invest is dishonest?
Or is it that the principles of buying a cheap house for cash, fixing and cashing out are flawed?
Because I am not planning to invest with their company but I have been strongly thinking over my strategy and am considering taking on the low end SFH market
I am having a hard time understanding the real problem here.
Is it that Morris Invest is dishonest?
Or is it that the principles of buying a cheap house for cash, fixing and cashing out are flawed?
Because I am not planning to invest with their company but I have been strongly thinking over my strategy and am considering taking on the low end SFH market
a little of both I suspect.. call it what you will but when M orris advertises turn key homes and the folks end up with a shell I guess that's dishonest..
and yes low end rentals highly risky for out of area investors.. tenant base is very very tough long term
San Francisco, CA · Member since 2017 · 51 posts · 48 votes
8y
@Jamil Rivera Please save yourself time, money and headaches by running the other way. I wish I did more research on BP before I jumped in with Morris. There are many threads on BP documenting negative experiences with Morris Invest so I won't go into too many details here.
The last thing you want is getting stuck with a house that you cannot refinance to pay off your credit cards when the 0% financing is up.