Clayton Morris Invest
I am a new investor with limited time/resources. In listening to the BP podcast, I heard the Clayton Morris one and was curious if anyone on here has used his services. For any of you who have, do you have any feedback or reviews that might assist me in deciding to make that leap of faith?
I totally agree with you and I do use leverage for other larger properties that I've purchased. It just so happens that with these guys, they don't deal with people that need financing...which in this case, if things had worked out the way they were supposed to, I would've been getting like a 14 or 15% unlevered return. I have thought about taking out the equity with a heloc but not really thinking that would be a good idea since this whole thing hasn't panned out the way that it was advertised.
I had my call with them back in October (spoke to James). My brother turned me on to their podcasts (which I still think are helpful). James seemed very helpful and answered my questions to the best of his ability I think. He told me they were about a 4 man team that does the initial phone calls. I think James was based out of Boston. In the end the whole thing just felt very rushed to me. He told me that properties were going very fast (within 30 min) and because of that they were only working with cash buyers. I asked him a host of questions including who would eat the rehab overrun costs if there were any. He said that they would eat them because they want my repeat business. Not just 1 deal but 10, 20, etc.
Being a brand new investor I am just very uncomfortable buying my first property sight unseen within 30 min of learning about its existence. I’d rather shop in my backyard (San Antonio) where it’s close by.
The overall impression I got was that they are underwater and struggling to meet the demand. I know some on this post ascribe more nefarious intent to them (which at the end of the day may be true) but I’m just not there yet. I think they definitely need to staff up and work on the communication for sure.
I hope this helps!
I’ve had the experience of rehab costs overrunning the budget-not fun in terms of money and time.
Although many people on this site poo-poo turnkey properties, one big benefit to them is you purchase a finished product with all-in price.
Just make sure prior to any purchase that you throughly vet any provider that you deal with!
It appears Clayton/MorrisInvest are now pursuing funding via a crowd-funding platform (https://www.realtyevest.com/deals). I have not had the best of luck with realtyevest and and trying to exit my investments with them.
The latest in case someone missed the other thread(s).
Just google Clayton Morris there are about a dozen stories now. It looks like the end is near for this joker.
@Robert Shelton
This came out recently: https://www.google.com/amp/s/boingboing.net/2019/07/15/hoosier-hotshot.html/amp
Pretty disappointing on the reviews for Clayton's company. I also had a conversation with one of the sales guys. I have a background in mortgage underwriting, but have never purchased an investment home. What I liked about the premise of Morris Investments is buying new homes that help theoretically lower maintenance costs. However I will not purchase a class D property in a dumpy neighborhood. Just because you may have a good market, does not mean that neighborhood is any good. After I did my research, the cash flow of the SFR did not meet muster. So i followed up with the sales guy and asked for updates on rent for 2, 3 and 4 plexes. Never did hear back after a couple of days.
While I feel confidently that Clayton is a stand-up guy and i guarantee he is 100% correct on geo-political issues of today from his Redacted channel, that our Fake News lies about ad naseam on a daily basis (IE - COVID frankenshot, Ukraine, etc.) but that doesn't help me with real-estate investments.
Y'all have a great day.
@Kevin Parnella.......then have at it with investing with Clayton....good luck with that..... see if you can dig up his phone number in Portugal.
Good luck......
@Ned J. you don't read very well.
Quote from @Kevin Parnella:
Pretty disappointing on the reviews for Clayton's company. I also had a conversation with one of the sales guys. I have a background in mortgage underwriting, but have never purchased an investment home. What I liked about the premise of Morris Investments is buying new homes that help theoretically lower maintenance costs. However I will not purchase a class D property in a dumpy neighborhood. Just because you may have a good market, does not mean that neighborhood is any good. After I did my research, the cash flow of the SFR did not meet muster. So i followed up with the sales guy and asked for updates on rent for 2, 3 and 4 plexes. Never did hear back after a couple of days.
While I feel confidently that Clayton is a stand-up guy and i guarantee he is 100% correct on geo-political issues of today from his Redacted channel, that our Fake News lies about ad naseam on a daily basis (IE - COVID frankenshot, Ukraine, etc.) but that doesn't help me with real-estate investments.
Y'all have a great day.
@Kevin Parnella....really? Which part did I misread? Was it the part about Clayton being a "stand up guy"...... the screen must have blurred from me shooting water out my nose after reading that part
Maybe its just me but con men than flea the country dont hold a lot of credibility on ANYTHING in my book.
@James Wise....come check this out.....
@Ned J. I was very clear that I wont' be buying a property with Morris Invest. You responded "then have at it with investing with Clayton..."
@Kevin Parnella....because the sales person never called you back.... not because you feel a con man cant be trusted.... you obviously believe his other ramblings on "geo-political" issues
No. I had a phone conversation with his staff prior to getting a full understanding of what he is offering. Now that I understand his business model of developing in less than desirable communities, that does not meet my requirements as an investor and therefore that's why I won't be looking into this any further.
@Kevin Parnella This site is very familiar with Clayton Morris. As you can see there's enough on here to make a whole forum. Lots of people lost money investing with him. Savings lost. Lives ruined. Still tastes sour even after all this time. BP is much more popular than it used to be so hopefully more will find what's been posted and stay away from him like you did.
As for Clayton's youtube channel. He's changed direction completely it seems. Went back to his roots of talking about the news. In his early days he's posted hundreds of videos hyping up his real estate company and how people can take out loans to go invest with him. All lies. He's just a front man for another company. He gets commision for referrals. Of course all those real estate videos have been deleted. But the internet never forget.
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Quote from @Ned J.:
Quote from @Kevin Parnella:
Pretty disappointing on the reviews for Clayton's company. I also had a conversation with one of the sales guys. I have a background in mortgage underwriting, but have never purchased an investment home. What I liked about the premise of Morris Investments is buying new homes that help theoretically lower maintenance costs. However I will not purchase a class D property in a dumpy neighborhood. Just because you may have a good market, does not mean that neighborhood is any good. After I did my research, the cash flow of the SFR did not meet muster. So i followed up with the sales guy and asked for updates on rent for 2, 3 and 4 plexes. Never did hear back after a couple of days.
While I feel confidently that Clayton is a stand-up guy and i guarantee he is 100% correct on geo-political issues of today from his Redacted channel, that our Fake News lies about ad naseam on a daily basis (IE - COVID frankenshot, Ukraine, etc.) but that doesn't help me with real-estate investments.
Y'all have a great day.
@Kevin Parnella....really? Which part did I misread? Was it the part about Clayton being a "stand up guy"...... the screen must have blurred from me shooting water out my nose after reading that part
Maybe its just me but con men than flea the country dont hold a lot of credibility on ANYTHING in my book.
@James Wise....come check this out.....
lol
Con men don't change their character...they just change the con they are running.....