All Forum Posts by: Chris Clothier

@Agus Hartono & @Jonathan Watson - I typed out this long response with reasoning and trying to educate and realized that investors are going to selectively believe whatever they want to believe.  It is how predatory companies sell their goods.  The numbers you were told Agus are laughable when taken with all of the other comments from people who have spoken with the company and visited their actual operations.  

Are they actually doing over 950 properties a year in Indianapolis?  Who knows? My years of experience tell me no, but the other companies or investors in Indy can testify if there are even that many of these properties to sell at this price point. Indy is a small town so the managers, investors and other tk companies in the city know what the volume is and maybe they can share.  

I don't know the company and hope they are doing business on the up and up, but the stories and experiences shared continue to be very poor.  They stay in business because investors sometimes are looking to be told what they need to hear to believe and buy.  

I do know that it takes a huge, talented team (over 77 team members on our side), a lot of experience and millions...MILLIONS of dollars to pull off doing our volume of 650-750 properties a year and we are extremely efficient at what we do.  Considering the owners story he only started investing a few years ago, I think what is being said could just be marketing hype.  

It could be that the owner of the company has no idea what is actually being told to investors since it sounds like everyone working for him is remote.  That doesn't excuse the hype, but who knows if he is even aware.

Just a quick question for clarification...

Did you mean to say (and more to the point, were you told) that Morris Invest does 80 properties per month in Indianapolis, 15 deals a month in Detroit and 10 deals a month in Jacksonville?

 Hi Anthony,

Im not sure if there are any companies out there that offer a turnkey apartment type of opportunity.  I know that we do not. We specialize in single-family homes and are managing just over 4,200 properties in Memphis, Dallas, Houston, Little Rock and Oklahoma City at this point. A vast majority of those are in Memphis and Dallas with the other markets slowly growing as well.  We add roughly 700 properties per year to that group, but like I said, none are apartment complex properties.

No offense Steve!!  You are right, we even went to Hawaii to visit with investors where they live!

 Early on we did a lot of business with local investors who knew who we were as business persons and they followed my dad, Kent Clothier Sr. as he spoke at different RE clubs about how he invested.  When we really started ramping up growth, we started traveling the country speaking at RE meet-ups and club events, advertised in RE magazines and began sponsoring everything we possibly could.  We built a list of followers through our blog and posting on BP and then spent a lot of time putting on small events in cities all over the place where we had followers on our list.  We went to Chicago, Boston, New York, Boca Raton, Dallas, Phoenix, Sacramento, San Fran, Los Angeles - probably 10 to 12 cities in California and sometimes meeting with only 2 or 3 investors.

But we kept at the traveling and commitment to go meet investors where they were and eventually the crowds grew into the hundreds.

We also met and managed homes for the owners of Fortune Builders.  They are located in Southern California and are very active in the buy/fix/sell market on the West Coast, but they wanted to hold a portfolio.  They were holding in Connecticut and wanted a lower priced market with a management company they could trust.  In the end, they have purchased dozens of properties including properties for their family members and eventually were willing to introduce their clients to our company.  Having them as a partner was a big part of our growth as well as it introduced our company to a lot of investors who were looking for a passive investment along with their active investments.

So those two things were the biggest part of our growth plan and as you can see today, we are still very, very active on BP, we are still traveling the country and putting on educational events not only for clients and their referrals, but also for interested investors and you are able to find our brand just about everywhere you look for passive investments.  So, we work our backsides off and stay hungry to keep getting better and that has led to demand that we get bigger and we could not be any more blessed.

Who knows?  Are they using licensed people?  What are they charging?  Don't know for sure, the only thing I could find was a 2.5% fee or a flat fee of $2500. It is based on a $100,000 sales so its hard to tell if its a fee or a percentage charged to sell a property.

@Steve K. Welcome to BP!  Awesome site that I'm sure you've heard us talk about.  You will find some great commentators on here and Im sure plenty of others who could learn from your experience.

Great to see you on here and let me know if I can help you navigate the site!

Best,

Chris

 Yes sir, feel free to send me a message!

Chris

We send anywhere from 1,000 to 3,000 letters per month per market, but a majority of what we buy are on market deals through the MLS or deals directly from our contacts at the realty companies. You have to remember that we have been in business buying homes in Memphis since 2003. We have an impeccable reputation for closing on our contracts and that goes a very long way in winning deals and being offered properties before they hit the market at times.