Turnkey, indianapolis, marion county, Morris Invests

40 Replies

@Jeff Schechter   early on in these morris threads a year or so ago your were touting this company and on BP you said you were providing inventory to them ( wholesaling it no doubt)

have you changed your opinion of them and have you quit selling them wholesale deals. ??

your other partner same thing he was very adamant that he bought like 15 of these and never had a maintenance call in a year.. which I frankly questioned.

So have you guys changed your mind now after you have seen this carnage and abuse of the buying publics trust.. ?????

@Jay Hinrichs   We were never wholesalers.  When we got started with our TK company, it was because my business partner and myself had great results personally buying from OP.  At the time, everything was great.  We started by selling a few of them through our personal network, and things just grew organically from there via our own marketing, referrals, etc.   This was summer of 2016, and everything was going along just fine....good communication, good rehabs, good returns, etc. 

Enter Morris Invest.  VERY effective marketing...especially to the newbies. They started selling a ton of properties in Indy, all of which were being provided by OP.  In a matter of WEEKS, it was clear that OP could not keep up with the volume that Clayton was selling, and the wheels fell off. There's no point going into what happened, as it's all been beat to death here on BP.  

We suffered too, and we are not newbies.  Given that we had a new TK company at the time, we looked at the landscape of what was going on in Indy, and knew that we could become very successful, if we just did things right, and treated investors fairly.  We decided that we would never be reliant on anyone else to that level.  So, we started doing everything ourselves....acquisitions, rehabs, etc.  It was a bit of a rough start for us, but overall has made us stronger, and now we have some great systems in place, and are doing very well.  

@Jeff Schechter    thanks for the response and good luck with your business.. its a very sad state of affairs that has occurred there.. going to be many millions of equity lost..

@Jay Hinrichs   The MI / OceanPointe fiasco isn't likely limited to Indy.  I am  hearing more and more reports of them selling in Jacksonville, Florida - same asset class, same over the top marketing, same built in set of problems likely to end up with a lot of investors getting the short end of the stick.  Maybe its time for the Feds to get involved?

Originally posted by @Larry Fried :

@Jay Hinrichs  The MI / OceanPointe fiasco isn't likely limited to Indy.  I am  hearing more and more reports of them selling in Jacksonville, Florida - same asset class, same over the top marketing, same built in set of problems likely to end up with a lot of investors getting the short end of the stick.  Maybe its time for the Feds to get involved?

 yes I have already been pinged by a few that showed me the Jacksonville stuff..  this stuff is rougher than Indy..

@Jay Hinrichs The latest is that Clayton Morris is now touting a new management company in Indianapolis called Blue Sky PM.  A quick search of the Sec of State records and you can find the owners are Mr. and Mrs. Morris out of NJ.  He is trying to get people who complain about OP to allow Blue Sky to fix all the problems. 

Want to bet the good people at OceanPointe and Blue Sky are one and the same?  The company names are not even that far apart.

Originally posted by @Joel Wilmoth :

@Jay Hinrichs The latest is that Clayton Morris is now touting a new management company in Indianapolis called Blue Sky PM.  A quick search of the Sec of State records and you can find the owners are Mr. and Mrs. Morris out of NJ.  He is trying to get people who complain about OP to allow Blue Sky to fix all the problems. 

Want to bet the good people at OceanPointe and Blue Sky are one and the same?  The company names are not even that far apart.

well hopefully he will get it together and at least rehab all these peoples properties.. but I don't give those properties much hope for the future you know how difficult those can be..  

Originally posted by @Joel Wilmoth :

@Jay Hinrichs The latest is that Clayton Morris is now touting a new management company in Indianapolis called Blue Sky PM.  A quick search of the Sec of State records and you can find the owners are Mr. and Mrs. Morris out of NJ.  He is trying to get people who complain about OP to allow Blue Sky to fix all the problems. 

Want to bet the good people at OceanPointe and Blue Sky are one and the same?  The company names are not even that far apart.

AS you know changing names and PM excetra is not going to fix what is already broken

the baseline causation of this whole mess is Morris representation of the asset class.. its just fantasy at its best

and gross misrepresentation at its worst... And they are preying on newer investors who just don't know what they don't know.. and that is  doctors and nurses don't rent homes in the HOOD.. and that 40 and 50k Class D and C are not the way to your freedom number and your going to retire if they were that's all he would be doing he would not be selling them he would be keeping them all... its a money grab he is a Guru just with a different product.. same thing though whatever he is selling the end buyer is in for a rude awakening and I guess if that's his beleifs that these C and D s are solid easy to manage properties well then I guess that's his opinion.. I know very few if any in the industry that agree with that.. 

Originally posted by @Anthony Khan :

Hi Brian and Others,

In the end I'm going to stay away from the TurnKey companies since this seems to be similar trends with that type of business.

Good luck investors I hope this helps!

@Anthony khan Morris Invest is NOT representative of a typical turn key company. There are good ones and there are bad ones and then there is Morris Invest. There are some very good, reputable turn key companies right here on BP. I challenge anyone to find one with as many complaints as MI or with a 24 page thread. The warnings were here on BP. Nobody should be surprised now when they get burned by these guys. 

@Mike D'Arrigo I'm assuming the quote you posted above includes your comment - "There are some very good, reputable turn key companies right here on BP." - can you point to some of these very good, reputable turnkey companies? Thanks.

Hi All, we are filing a lawsuit against Morris Invest for their poor practices, holding investor funds captive, and not following through on their promises. The communication has been downhill and Clayton is not even responding to emails or phone calls about their failed projects which is consistent with the staff after you start to ask questions about your property and real progress with pictures and proof.

If you would like to file a class action suit we can talk to our legal reps about that. Please let me know as it seems there's dozens of investors who have been defrauded by Morris Invest.

Originally posted by @Anthony Khan :

Hi All, we are filing a lawsuit against Morris Invest for their poor practices, holding investor funds captive, and not following through on their promises. The communication has been downhill and Clayton is not even responding to emails or phone calls about their failed projects which is consistent with the staff after you start to ask questions about your property and real progress with pictures and proof.

If you would like to file a class action suit we can talk to our legal reps about that. Please let me know as it seems there's dozens of investors who have been defrauded by Morris Invest.

If you are serious then we need to talk. We are working to put these guys in prison and we have a number of victims who are working together.

@Aleks Gifford @Anthony Khan are you gentlemen referring to something outside of the group that was put together for the class action lawsuit? I ask you to get in touch with @Colin Zhu we have over 100 investors involved in this group that is seeking legal action and communicating with one another. Please reach out to him if you are not aware of this. Thank you.

Originally posted by @Matthew Jonovich :

@Aleks Gifford @Anthony Khan are you gentlemen referring to something outside of the group that was put together for the class action lawsuit? I ask you to get in touch with @Colin Zhu we have over 100 investors involved in this group that is seeking legal action and communicating with one another. Please reach out to him if you are not aware of this. Thank you.

I am working to bring criminal charges which lays the ground work for a civil case.

@Aleks Gifford @Anthony Khan @Colin Zhu please reach out to colin. Amanda is our contact with the class action attorney and we were told the opposite, first to do the civil and then the criminal. We need to work together so we can bring these companies to justice. You can do as you please but it is worth trying to work together on this. thank you.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here