I want to warn people from investing with Morris Invest, et al. I started with two properties to check them out and both properties were not renovated (at all or fully). Please see the review of my "renovated" duplex at https://www.youtube.com/watch?v=z0jXyRHrbYo. They are now ignoring me and will not work with me to fix it. Please see Son Doan's channel at https://www.youtube.com/channel/UCdvDrBVhdgroJ866HgeMslw for reviews of their rehabs as well.
@Jack Glover this is all over BP. I wish you luck as you try to sort it all out
Thanks, Caleb. I have heard stories of others in the same boat as well as others that invested everything they had. Some of these people cannot afford to fix their properties that were left un-rehabbed (or incorrectly rehabbed) by Morris Invest, et al. What a fraud. I hope the law catches up with them.
Jack this needs to stop and the only way to stop Morris from my point of view of government intervention. stop the ongoing and take care of those who need it.
get with the other investors who have suffered the same issues and get together the squeaky wheel ..
I agree Jay. I have referred this apparent criminal activity to the state's attorney general for possible criminal investigation - - talk about a massive apparent fraud - - and they have already written me back that they have opened a case. I will also be reaching out to the FBI as this apparent fraud appears massive and extends across state borders. As a former federal special agent, I can say this appears to be a slam-dunk case for either investigative body. I will also try to reach out to the appropriate real estate boards or commissions to file complaints against the brokers.
Mr. Glover I think the public many times does not under stand that wire fraud also is the dissemination of false information in marketing.. and as you can see this is the case here..
not to mention many have wondered how Mr. Morris who is appears is not even licensed to sell real estate is getting away with this in multiple markets.
Along with what is from again what others have posted about just out right theft of rehab dollars.
Not to mention the gross misrepresentation of the neighborhoods etc etc.
It was bound to happen that someone of your back ground or some other folks would not take this lying down.
Some on Bp posted hey this is a learning experience etc..
We all know that real estate runs risks.. IE bad tenant etc.
but this is far more complex than that.
And when you have owners who for a good length of time were receiving rent only to find out their homes were in fact vacant or had squatters in them.. that reeks of a Ponzi type situation.
Also when you do your digging .. another critical element is that it appears through Morris or oceanpointe direction the title company used OP address as the return address for code violations etc.. so it was easy for them to sell vacant shells pay rent on them.. then pocket the code violations and the owners who never set foot or would set foot in Indy had no clue anything was wrong..
I have seen this play a few times in my career but this is one of the worst violation of the public trust I have ever seen.
And for Mr. Morris from what others have said to send out an e mail and say he is just learning of this.. Well these threads on Morris have been going on since about the time he did a BP pod cast.. and others were complaining so from what I read on BP Mr. Morris was aware of this for at least 12 to 18 months.
I do business in Indy and one of my clients said he was contacted by Morris who was expressing his concern over these issues and that again was at least 18 months ago..
you will see the same Issues in Jacksonville FLA as well but not quite to the extent..
Its really something.. how his on line persona and podcast hit on an investing nerve at that 50k mark..
but millions are going to be lost here..
As I stated simply a violation of the investor publics trust and just plain American Greed.. which is where we will probably see this end up ON TV...
Thanks for jumping in.. and I wish you the best in your pursuit of justice in this matter.
Lastly ,, people are finally starting to also post on ripoff report.. this is very important as ripoff report will go to top of google Morris et al have been very good at knocking down critics on u tube and facebook.. but they cant monkey with ripoff report.. I encourage anyone who cares to protect the public to make a complaint on that site.. you can do it without leaving your name for those that may be to timid to post on BP.. but it gets a huge circulation.
And as well to be fair to Morris and OP there is a rebuttal section so he can rebut if he choose to engage.. however I suspect he will be ( if he has not already) lawyering up and getting ready for the legal onslaught that is about to rain upon him :) you just can't screw this many people for this much money and then DUCK and throw OP under the bus.. granted they were bad.. but Morris Ouch.
Thanks, Jay. And good points.
Several people I have communicated with thought things were going great with Morris Invest, et al, until they had their properties inspected this past week. I think the complaints will start coming out of the woodwork now....
I visited the code enforcement office in Indianapolis yesterday and a lawyer there said they are being inundated with calls from Morris Invest investors trying to deal with code violations that were never resolved by Morris Invest's PM there. The lawyer said it is shameful.
Speaking of OP, they apparently shorted me several months of rent and even some off the two months of rent they did pay me. They never responded to my calls and emails to correct it. I am apparently out thousands just in skimmed rent money.
I forgot to mention I also met with a PM in Indy (one that I signed with) and he said he had just told a MI investor that his properties were not worth further investment and to walk away/sell as is. The investor is going to lose approximately ~$100k according to the PM.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you