Los Angeles, CA · Member since 2017 · 20 posts · 35 votes
I want to notify everyone and anyone that is currently looking at and considering a purchase of a property from Morris Invest. It is a scam. Don’t fall for the trap of the high returns. There is potentially a class action lawsuit in the works. There is no way to know which potential clients he may be reaching with his online YouTube videos but this post is just meant to be a warning to any potential investors. Find another company! You have been warned. I, along with over 200 other investors, have invested and essentially not seen the return promised or presented. It is a SCAM. This post is meant to be a warning to save potential investors from the trouble that we all have gone through.
I know it’s a pretty easy to just jump on here and talk trash about people but remember do your due diligence and don’t just invest with someone because they have a website.
Only work with people you know like and trust.
I started buying turnkeys a few years ago and urge people to never listen to a broker and think for yourself.
Buy homes that rent for 900 or more. And buy with inspection and appraisal.
Has anyone contacted the Secret Service? They deal with wire fraud and may act quicker than the FBI. At the very least they're sort of competitive and if the FBI knows the ss is getting involved they might move quicker and vice versa.
Yup...but what do you notice about the Morris Invest FB page? No negative statements and lots of prospective turnkey investors smoking the Clayton and Natalie “hopium” with their $30-50K in savings...
I have listened to Morris too for a long time and my analytical mind and careful slowness saved my behind here not having jumped on the ship with him before I got my first warning as a comment by a viewer on a show with Morris on Mark Ferguson podcast. In the meantime I have done my research and will certainly not give him the opportunity to take my money. A local Vegas lady contacted me too that she got taken with a Morris crack house. She now bought 2 on her own there.
So I'm flying out this weekend to check out the market, drive around and meet people and all. As a thank you to this community I would like to offer to anyone interested to give me your property address and I see if I can make it to pass by and take pics for you and forward you the info. I understand I probably will not get to see the inside unless it is vacant or under rehab, but if you would like to see updates on your house, let me know.
I'm looking and not finding any class actions against Morris Invest that have popped up in the news on Google. If anyone has been harmed and needs to consult a class action attorney, let me know as I know several good ones.
I'm looking and not finding any class actions against Morris Invest that have popped up in the news on Google. If anyone has been harmed and needs to consult a class action attorney, let me know as I know several good ones.
I am not an attorney of course.. but I see this as a Civil Rico act complaint since there are so many different people in multiple jurisdictions.. then the regulators if they ever care to can move it to a criminal Rico.. or just garden variety wire fraud which is where most of these companies that defraud the public ( which according to all these BP posts if they are accurate and I have no reason to think they are not are correct)
I kind of see Class action as more of a product liability vehicle.. but again I don't know just what I have seen personally in the business world.
Actually, come to think of it, a class action may not even be necessary. What's the guesstimate on how many have been screwed if any? It's a finite number. In discovery, that number can be ascertained. From the complaints here it appears that someone could maybe consider it fraud to promise one type of property, one amount of return but deliver another.
Actually, come to think of it, a class action may not even be necessary. What's the guesstimate on how many have been screwed if any? It's a finite number. In discovery, that number can be ascertained. From the complaints here it appears that someone could maybe consider it fraud to promise one type of property, one amount of return but deliver another.
you would need to dig into the threads but here is what I have gleaned from the threads.
1. buy Vacant D / F class generally cheapest home in the MSA for very little money
2. say its great area just 4 walls and a roof and sell for 40 to 50k ( price point that gets a lot of cash buyers)
3. woefully underestimate rehab costs
4. assertions that rehab funds were transmitted and no rehab was done.
5. unclear on Morris license issues is he selling without a license
6. Morris is or is not a principal that is not disclosed.. most think they are buying a MOrris house..
7. property managers sending rent to investors in a Ponzi manner IE no renters in the house but investors still getting rent checks.
8. Said investors getting rent checks then get on social media and say how great it is when in fact there house was never rehabbed or rented.
on and on and on..
but if you read the threads these are the accusations that others have made.
forgot that one I had a long conversation off line with a guy from Texas that had bought a few of those.. one he sent me pics of at least had the block foundation in .. not sure if it ever got finished or not. Nor how many of that model they sold.
but it was flawed from the beginning the only way to make those work was to build them on lots that were basically free so you knew right there that was the worst of the worst neighborhoods.. just a waste really.
Estimated theft in Indianapolis alone is $22 million in the last 24-30 months. The scheme has over 200 investor victims, over 2000 Tenant victims involving over 1600 properties in Indianapolis alone. Estimated monthly theft of $90k in stolen rents just in Indianapolis. They are using a couple of dozen shell companies and move cash in and out of country faster than you can send it to them.
They are running this scheme in a number of other city/states and the overall theft by fraud appears to exceed $100 million. A civil action will net you nothing as it does not freeze assets nor does it block them from just shifting assets/cash into other entity names you are unaware of or they just get new victims to settle with you. A criminal RICO filing seizes everything of all indicted parties till things can be figured out.
Aleks, Jay, Matt: OK, WOW, this is much much bigger than I thought. Yeah, criminal RICO would be nice but does anyone think Trump's DOJ is going to go after Real Estate scams? I mean, maybe. It's very very hard to get the DOJ interested in doing any kind of case.
Well, again, if anyone's interested in actually suing, I would help them get a kick *** attorney. That's a good first step. But we need actual investors to step up and say, yeah, sign me up, I've been screwed.
Estimated theft in Indianapolis alone is $22 million in the last 24-30 months. The scheme has over 200 investor victims, over 2000 Tenant victims involving over 1600 properties in Indianapolis alone. Estimated monthly theft of $90k in stolen rents just in Indianapolis. They are using a couple of dozen shell companies and move cash in and out of country faster than you can send it to them.
They are running this scheme in a number of other city/states and the overall theft by fraud appears to exceed $100 million. A civil action will net you nothing as it does not freeze assets nor does it block them from just shifting assets/cash into other entity names you are unaware of or they just get new victims to settle with you. A criminal RICO filing seizes everything of all indicted parties till things can be figured out.
all I can say is WOW I have been saying form Day one this is a RICO if I ever saw one.
Also now if this is all true ( and certainly don't doubt you since your there and probably well informed.) the feds better grab these bad actors Passports.. next thing you know they will be off to Brazil ( no extradition)… then the only way to get them back is to go kidnap them and put them on a private jet to bring them back :) I for the life of me cannot get over the arrogance of Morris with all this going on to still be out there working his model that was so deeply flawed in it inception.
Aleks, Jay, Matt: OK, WOW, this is much much bigger than I thought. Yeah, criminal RICO would be nice but does anyone think Trump's DOJ is going to go after Real Estate scams? I mean, maybe. It's very very hard to get the DOJ interested in doing any kind of case.
Well, again, if anyone's interested in actually suing, I would help them get a kick *** attorney. That's a good first step. But we need actual investors to step up and say, yeah, sign me up, I've been screwed.
@Colin Zhu Tom contact Colin he will know and is an actual investor who has been harmed.
Estimated theft in Indianapolis alone is $22 million in the last 24-30 months. The scheme has over 200 investor victims, over 2000 Tenant victims involving over 1600 properties in Indianapolis alone. Estimated monthly theft of $90k in stolen rents just in Indianapolis. They are using a couple of dozen shell companies and move cash in and out of country faster than you can send it to them.
They are running this scheme in a number of other city/states and the overall theft by fraud appears to exceed $100 million. A civil action will net you nothing as it does not freeze assets nor does it block them from just shifting assets/cash into other entity names you are unaware of or they just get new victims to settle with you. A criminal RICO filing seizes everything of all indicted parties till things can be figured out.
This makes total sense.... the owner of Ocean Pointe's website was in Panama...
Estimated theft in Indianapolis alone is $22 million in the last 24-30 months. The scheme has over 200 investor victims, over 2000 Tenant victims involving over 1600 properties in Indianapolis alone. Estimated monthly theft of $90k in stolen rents just in Indianapolis. They are using a couple of dozen shell companies and move cash in and out of country faster than you can send it to them.
They are running this scheme in a number of other city/states and the overall theft by fraud appears to exceed $100 million. A civil action will net you nothing as it does not freeze assets nor does it block them from just shifting assets/cash into other entity names you are unaware of or they just get new victims to settle with you. A criminal RICO filing seizes everything of all indicted parties till things can be figured out.
This makes total sense.... the owner of Ocean Pointe's website was in Panama...
Certainly if they actually substantiate all this .. will make for one great American Greed episode..
Estimated theft in Indianapolis alone is $22 million in the last 24-30 months. The scheme has over 200 investor victims, over 2000 Tenant victims involving over 1600 properties in Indianapolis alone. Estimated monthly theft of $90k in stolen rents just in Indianapolis. They are using a couple of dozen shell companies and move cash in and out of country faster than you can send it to them.
They are running this scheme in a number of other city/states and the overall theft by fraud appears to exceed $100 million. A civil action will net you nothing as it does not freeze assets nor does it block them from just shifting assets/cash into other entity names you are unaware of or they just get new victims to settle with you. A criminal RICO filing seizes everything of all indicted parties till things can be figured out.
This makes total sense.... the owner of Ocean Pointe's website was in Panama...
Certainly if they actually substantiate all this .. will make for one great American Greed episode..
With your post count maybe they'll grab one of them for the episode!
Wow, so glad I don't invest with these random youtube morons. I hope he goes to prison for a long time if the allegations are true.
Remind me never to do a U tube I don't want to be classified as a Moron.. LOL... Yup in my 2 decades of funding out of state deals I have seen this play in small doses nothing of this magnitude though..
Jack B. I’m stealing your “YouTube moron” comment, that made my day lol
These channels seem to pop up on YT constantly. I watched a couple videos of his and wasn't really impressed. Something seemed off about the guy. I didn't even know it was an alleged scam until I just read it on reddit by chance a few minutes ago.
Jack B. I’m stealing your “YouTube moron” comment, that made my day lol
These channels seem to pop up on YT constantly. I watched a couple videos of his and wasn't really impressed. Something seemed off about the guy. I didn't even know it was an alleged scam until I just read it on reddit by chance a few minutes ago.
Jack what is Reddit ??? how do you find that what do they do ?
Jack B. I’m stealing your “YouTube moron” comment, that made my day lol
These channels seem to pop up on YT constantly. I watched a couple videos of his and wasn't really impressed. Something seemed off about the guy. I didn't even know it was an alleged scam until I just read it on reddit by chance a few minutes ago.
Jack what is Reddit ??? how do you find that what do they do ?
Jay, just put www. and .com on either end of reddit and you'll see -)
Embarrassed to say I got caught up in the Morris Invest fiasco as well for the tune of $45k. I had watched Clayton on TV for years and one day out of the blue he announces he is retiring from his TV career to pursue his dream of helping people acquire wealth through real estate. Fast forward about a month later and I see one of his facebook ads which leads me to watch his videos and the rest sadly is history.
After getting nowhere with Oceanpointe I contact a PM firm in Indy and there were able to get into the property. There is no water or electrical hook up and no boiler. I went to Indy 2 weeks ago to visit my mistake and it appears I may be in a better position than most. The interior look decent with a new kitchen and some bathroom fixtures and the electrical was updated to 100 amp. Not trusting OceanPointe's "renovations" I had a home inspection done and they estimate my renovations would be moderate to advanced to get it up and running. Cracks in foundation and some mold in basement and the chimney is half gone.
I contacted one of those "we buy ugly houses" people and they offered me 15k. I will have the PM in Indy list the property and see what happens. I know avoiding a loss will be impossible but 30k hit is hard to take.