All Forum Posts by: Ken Badziak

I live in Miami but bought a duplex up in Parma, using Nicholas Varner and the Holton Wise group. While Parma may or may not be your cup of tea for a live-in rental (I'd call it a B-, C+ at the worst), they do also have many listings in some of the "better" B+ A neighborhoods. I found them to be quite responsive and will be picking up more multi-families using them as my PM as well as transaction facilitators. They are extremely investor friendly; I'd definitely give them a call.

2 Votes

Originally posted by : @Suvir

But as with most newbie investors, don't have huge sums to drop, so I guess that's why we're all drawn to these cheap properties with high ROI as a way into the market. Mostly no cashflow in Australia, so thus my interest in the US market.

If you've got $50k to drop on a turnkey property then you've just found yourself the necessary 25% down payment on a $200k multi family.

And depending on what market you're looking at, that could be something as small as a duplex in Ft. Lauderdale, or an 8-plex in many of the great midwestern markets...

1 Vote

Originally posted by @Suvir Salins:

Hi Guys,

Any Australians on BiggerPockets used Morris Invest? Clayton mentioned on his podcast that he has clients from Australia. Would be interested in talking to find out what the experience was like. Have listened to all Clayton's podcasts and interviews on BiggerPockets. Sounds like he wholesales these properties to his client base. Guessing he uses the funds he makes in wholesaling to then buy and hold his own properties. He also mentions some are rehabbed prior to sale while others are rehabbed post sale.

Looking forward to hearing more stories on people's experiences. I'm planning on pulling some equity out of my house and getting into some turnkey properties soon.

Kind regards,

Suvir

Look up Engelo Rumora at www.OhioCashflow.com

He's a dingo from Down Undah just like yourself. His company gets much praise, and he's in the same general area as Morris; I.e., the Midwest.

1 Vote

Originally posted by @Roland Brown:

I like the idea of using a HELOC, I'm looking to buy my first rental when the numbers look right.

My question is on how to access the value I have in equity. What's the process?

You just answered your own question... open up a HELOC on your property!

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@Kathleen R. is your 4plex here in Miami? What neighborhood?

Care to share the details, how you found it, price, rents, etc etc?

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Originally posted by @Jay Hinrichs:

@Ken Badziak I can assure you among this list there are many many other quality TK companies.

No doubt!

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The same names seem to keep popping up as good TK candidates...

USAPortfolioRE for the Detroit area,

OhioCashFlow Toledo,

Memphis Invests,

Spartain Invest, Birmingham.

2 Votes

Originally posted by @Dolores Waldron:

@Merritt Whitman - Thank you so much for your detailed post, it has been a huge eye opener.

Here is the link to the thread if anyone is interested in Merritt's 'on the ground experience with Morris Invest':

https://www.biggerpockets.com/forums/311/topics/34...

I also have been listening to Clayton's podcasts and really enjoy them but waited months for my scheduled call with I thought would be with Clayton but spoke to a member of his team Dave who I found didn't really have any enthusiasm that Clayton has in his podcasts and he was also really vague about the names of the Rehab Team, Property Managers they use etc. He didn't really share any details on how they made their money from the turn key project and basically said it was through rehab. There was no follow up from my phone call either via email or phone to see if I had any other questions or if I was interested in joining the program.

I also relayed this feedback to Clayton via email but haven't heard back. I for now will continue to be educated from his podcasts but I do not feel confident to invest in his turn key projects.

It would be great if Clayton or Natalie would respond to any of these posts and would instill more confidence in their system.

Funny; your experience exactly mirrored mine. "All fart and no poop" as my wife likes to say. (I guess that's really a saying in Brasil!) I think the most frustrating thing is to keep listening to the podcasts (which I still do, as there's tons of useful information there) knowing that there's this huge disconnect between Clayton's podcast world and the real world... Which is a good thing, I guess. The more I run the numbers, the less these sub $50k homes make sense.

I would much rather take that $40k and put it into down payments for two $100k homes in better areas, or a good small multi family. Which is exactly what I did.

Anyway, can you repost that link you provided for Merritt's experience with Morris's Invests? The original link is broken.

2 Votes

All Forum Posts by: Ken Badziak

Ken Badziak has started 17 posts and replied 130 times.

Post: From Abandoned Shell to $1.1+ Million Valuation in 4 Years

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Post: Morris invest - any insights?

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Post: Hard money or OPM for Rentals?

Post: Closing on my FIRST building....

Post: Morris invest - any insights?

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Post: Morris invest - any insights?