Morris invest - any insights?
Hi there
I came across morrisinvest.com the other day after listening to Claytons podcast. The whole idea sounds really reasonable, but I still would like to cover all my bases. Does anyone have any experience with them? Good experiences? Bad experiences? I can not find any reviews of them online except the testimonials on their own side. I guess that is because they are pretty new.
Thanks
Simon
Originally posted by @Simmy Thompson:
I just found the complaint below on the Better Business Bureau posted on 3/5/19:
"I will just start by saying we were deceived out of $97,000.00. We purchased 3 rehab homes in Indianapolis through Morris Invest. These homes were not in up and coming areas, as described in their info. These homes were dilapidated and then never rehabbed, which we payed for. I contacted Morris Invest office numerous times and when I got lucky to talk to someone, they just say "Their team is taking care of it". Not another company. Oh but now it's another companies fault. I guess they can't tell us of their shady dealings. I have a statement that clearly says they handle the transaction, the rehab THEN we are passed on to their third party property managers. During this nightmare, they NEVER communicated with us. It was the worst experience with a company that I ever had. Clayton hides behind his blame of his third party company. He says they didn't sell the property and they were not responsible for the rehabs. His info. misrepresents what they say they are not responsible for. His advertising and website makes EVERYONE feel their services are actually through them. They never tell us that they really have nothing to do with any of it, as they now state since hundreds of hard working people have lost their shirt . Clayton had many red flags and he had plenty of time to make things right before things got to this point. I respected him in the beginning, but he is a thief and a coward. We were stuck with 3 homes, falling apart and uninhabitable. Oh but Morris Invest had nothing to do with it...INVESTORS BEWARE!!!"
So sorry to hear this. More reading here: https://www.biggerpockets.com/forums/311/topics/689433-clayton-morris-morris-invest-house-of-cards-starting-to-fall
@Will Zena, @Patrick Shawn Faherty @Mike D'Arrigo
I am sorry folks if my post read as though I was an investor with Morris Invest. However, I am not. My husband and I run our own thing in the Midwest and we do not use turn-key companies because I am type A and I like to close with equity.
The point of my post was to show was stated on the better business bureau's website hence it is quotation marks :)
I did learn a ton from their podcast and purchased the books Loopholes of Real Estate and Tax Free Wealth because of them.
The Morris family left the country: http://natalimorris.com/out-of-office-reply/
Originally posted by @Luis F.:
The Morris family left the country: http://natalimorris.com/out-of-office-reply/
WOW! Is all I have to say and I just read a couple paragraphs so far. Everyone should check this reading material out.
Originally posted by @Luis F.:
The Morris family left the country: http://natalimorris.com/out-of-office-reply/
I wonder if the place they went has extradition to the USA? I'm glad she is so supportive of her husband, but I do think he has at least some level of culpability. I don't ever recall him mentioning any partner beside Natali. Perhaps he did, but he was definitely the front-man.
Her fans sure are supportive so far per the comments on the bottom of her blog.
Originally posted by @Patrick Shawn Faherty:Originally posted by @Luis F.:
The Morris family left the country: http://natalimorris.com/out-of-office-reply/
I wonder if the place they went has extradition to the USA? I'm glad she is so supportive of her husband, but I do think he has at least some level of culpability. I don't ever recall him mentioning any partner beside Natali. Perhaps he did, but he was definitely the front-man.
Her fans sure are supportive so far per the comments on the bottom of her blog.
Your right. I always listened to the podcast since I was a newbie and had calls/emails with them. Nothing was ever mentioned about partners.
Wow is right. The reason the guy can't sleep at night and feels ill is because he knows he screwed up. I bought a house from him in Detroit, and not Oceanpointe in Indy. So the whole "blame the dead guy" excuse doesn't fly. It was my first step into real estate, and I got screwed with repairs that were never made, and lead paint removal. Total disaster. From Nov 2017-Dec 2018 I had nothing but problems with the property. Fast forward to now, and another 10K in the toilet, I am finally cash flowing. I plan to sell the property, but will wait until I recoup some of my losses. I spoke to Clayton. He called me. To be honest, I didn't think he was a bad guy, just a bad businessman. I think he grew too large, too fast, and didn't have the infrastructure in place. I think the guy got overwhelmed, and things fell through the cracks. The folks working for him were definitely slugs. If anything, it has been a learning experience. Since then I've purchased 8 properties in my local area, and it has been relatively smooth sailing. I did get a lot of good info from his podcasts, and he had the concepts down, he just couldn't execute them en masse. Chalk it up as a life lesson.