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.
I'd like to find out more too. I scheduled a call with them and they are booked for about 3 weeks out! I really do enjoy Clayton's podcast. I guess I would be concerned that the company is new.
I have scheduled a call with them as well. Let's see how it goes. The idea makes sense, but I'm still suspicious.
In the meantime, they are booked out for 9 weeks!!
I spoke with Clayton about investing. It sounds above the boards and I haven't found anything negative. I am in the process of a cash out refinance now and will be using some of the money to buy of thier properties. Essentially, they are so busy now I got the impression they are really only looking for cash buyers who can move quickly. They have a lot of interest and using a tradition bank can take longer than they want on closing. Not that they wouldn't do it, but I think they will always have a cash buyer ready.
I am hoping to be back in contact with them in the next few weeks though to find a property and will certainly update then.
Same here. I contacted Morris Invest and, after speaking with Clayton, I am looking forward to what properties they have to offer. I am new to real estate investing, but the turn-key part and target ROI (cash on cash) of 10% or more sounds excellent. I plan to send an update after I obtain a property from them.
Yes, please update. I am interested also and would love to hear how it goes.
I spoke to Clayton at Morris Investment, he pushed the idea of hard money lending. When i mentioned financing i felt he tuned out. That was my opinion anyway. I am currently working with Norada Real Estate on my first investment property.
@Brian Naumann -- we appreciate you as a client. You're in very good hands with your Investment Counselor Steve.
I'm interested in setting up an appointment, but waiting to save up more cash to start.
How does Clayton Invest make their profits? Finders Fee? Do they own the management company (taking 10% off the rent each month)?
I'm skeptical that they can fully rehab a house (which costs 30k-40k) in the midwest for only 10K. Pricing for materials for a rehab at the scale Clayton talks about would costs 2x-3x that price -- add labor on top of that!
Please keep us posted on your interactions.
@Steven Piazza I am having the same questions and I will definitely ask about it once I'll have that phone call. That should be on about 2 week.