Morris Invest Turnkey as a way to invest

5 Replies

Hi everyone! Has anyone had any experience with Morris Invest? It is a turnkey company founded by Clayton Morris who is a former Fox News Anchor. His company purchases properties, rehabs them and then has a company to manage them for investors. From what I see an investor would need to fully purchase the property (say around 40K) but at times will cash out refinance later on to pull out their cash. I would like some opinions on this type of investing. Thanks. 

Originally posted by @Daniel Rutledge :

Hi everyone! Has anyone had any experience with Morris Invest? It is a turnkey company founded by Clayton Morris who is a former Fox News Anchor. His company purchases properties, rehabs them and then has a company to manage them for investors. From what I see an investor would need to fully purchase the property (say around 40K) but at times will cash out refinance later on to pull out their cash. I would like some opinions on this type of investing. Thanks. 

I do not know too much about them, but I always suggest doing your research! Make sure the neighborhood is something you like and the market is one where you see promise!

Also, be sure they are a TRUE turnkey company. Ideally, they will own, renovate, AND manage the property all in-house. If they are using third parties (such as an outside management company) than it is not really turnkey. They are just selling you a home at that point I believe. 

Try looking at:

The Best Types of Markets for Profitable Turnkey Properties

and

What to Ask When Working With a Turnkey Provider

Thanks @Tom Ott for the reply. I follow his podcast and he has been on Bigger Pockets podcast twice I believe but I have yet to call and talk with them. Hopefully someone on here has some experience with his company or similar to give additional feedback. Essentially I will either invest in my local market or work with his company but have yet to make that decision. Thanks again for the reply.

@Daniel Rutledge You should do a search for Morris Invest here on BP.  There are multiple and extensive threads on this company and investor experience.  I will say that I don't believe they are the real company behind the properties or the property management.  That is Ocean Pointe.  MI is just a marketing company.

bear in mind cash out refinancing may be impossible at that price point. The lowest I've seen is 50k meaning at a 75% LTV your property has to be worth 72k or more

Thanks for the replies. I've been going through some other threads where people have used them and the feedback is mixed. I thought I would dig in further after a recent podcast of his where he had an investor on. She had not gotten a tenant yet after the rehab as of the podcast and it had been a couple of months. Homes in my area rent much quicker but will cost more for anything over a war zone property.

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