As Real Estate Investors who are running one of the largest rental property portfolios in the Cleveland, Ohio market Holton-Wise Co-Founders John Holton and James Wise have seen it all. Their Tenants From Hell Show has been a huge success. However, there are two sides to every story. In the videos below we share stories about some of the worst Landlords in the industry.
BEWARE real estate scams are everywhere when you are investing in real estate. From house scams on craigslist to real estate fraud schemes. The real estate fraud red flags are everywhere. In rental real estate investing we always say trust, but verify. In the 11th episode of The Landlords From Hell Show the HoltonWiseTV team is doing an inspection on a home we were under contract to buy from a tired landlord. This landlord, more accurately described as a slumlord had described the house to us as a rental property that just needed a little bit of work to get it rent ready. Upon arrival it became clear to us that this was a real estate scam and that it was a condemned house. Buying condemned houses is a totally different ballgame from buying other distressed properties. Only a bad landlord would allow their investment property to be condemned by the city. This housing scam could have gotten us had we not done the proper due diligence before buying this home.
There is a popular real estate investing strategy called house hacking. House hacking involves buying a property to use as an investment property as well as your primary residence. In the 10th episode of The Landlords From Hell Show we take a look at the case of the Chad Allen Reed from Battle Creek, Michigan. Chad Allen Reed's house hack investment couldn't have gone any worse. It's stories like his, that help communist movements like cancel rent gain mainstream momentum in America. Chad Allen Reed is accused of killing his tenants Joeseph Soule and Jaclyn Lepird and hiding their bodies in his truck. The alleged motive for this landlord killing his tenants was due their frequent late night partying keeping him from getting a good nights sleep.
Real estate fraud schemes are everywhere. If real estate investors aren't careful they could lose a lot of money being involved in a real estate scam. In the 9th episode of The Landlords From Hell Show we discuss a recent real estate deal where we caught a dishonest rental property seller in a $40,000 quit claim deed scam. There are many dangers when buying real estate using a quit claim deed to transfer property ownership from seller to buyer. A quit claim deed is used to transfer the ownership interest of a property from one party to another. But, unlike a warranty deed, a quit claim deed doesn't involve a proper title insurance policy after a title search. A quit claim deed only transfers the interest that the seller has, and that interest could be subject to liens on the property that the buyer now assumes. If a real estate buyer ends up in a transaction with a dishonest seller like we where in this episode of The Landlords From Hell Show they can find themselves getting a lot of money stolen from them.
Shortly after he was a Fox News TV personality and just before he became the host of Morning Invest, Clayton Morris was involved in some of the most notorious turnkey real estate investment scam allegations that the turnkey real estate industry had ever seen. These scam allegations against Morris Invest as well as many interviews with alleged victims of Clayton Morris where covered at length here on HoltonWiseTV. This coverage led to Clayton Morris filing a $7.2 Million lawsuit against Holton-Wise. The 8th episode of The Landlords From Hell Show explains how the Clayton Morris vs. Holton-Wise lawsuit shook out now that the case is over.
Have you ever had a landlord who would not fix anything in your house or apartment? Unqualified landlords who won't fix anything give all landlords a bad name. In the 7th episode of The Landlords From Hell Show the HoltonWiseTV team takes you on a tour of an apartment building that was neglected by it's slumlord owner. This building was in such disrepair that the roof caved in.
In the 6th episode of The Landlords From Hell Show we discuss the dangers of a real estate scam revolving around the use of quit claim deeds. A quit claim deed is used to transfer the ownership interest of a property from one party to another. But, unlike a warranty deed, a quit claim deed doesn't typically involve a title search or a title insurance policy. A quit claim deed only transfers the interest that the seller has, and that interest could be subject to liens on the property that the buyer now assumes. Using forged quit claim deeds authorities allege that Dwayne Mitchell, David Garner & Marquis Lomax stole several houses in Cleveland, Ohio and tried to illegally sell them to unsuspecting buyers. This alleged fraud is believed to have involved the theft of more than a dozen homes.
In episode 5 of The Landlords From Hell Show James reacts to the most recent episode of Netflix's @Patriot Act starring former Daily Show correspondent Hasan Minhaj. Hasan Minhaj is a funny comedian, but it's clear he doesn't know anything about economics or the housing and property management industry. In an effort to get a few laughs Hasan Minhaj featured HoltonWiseTV in his liberal cry fest about the housing crisis he has predicted. Through ignorance, misinformation, clever editing & Coronavirus sensationalism Hasan Minhaj has found a way to vilify American Citizens who happen to be property owners. Hassan Minhaj paints an us vs them picture that perpetuates dangerous liberal ideology like rent strikes all across America.
In the 4th episode of The Landlords From Hell Show James Wise interviews another man claiming to have been victimized by former Fox News TV personality Clayton Morris & his real estate investment company Morris Invest. His name is Andy Buchanan and he might have the most damning evidence against Clayton Morris's real estate scam that we have ever seen. Andy provides compelling evidence that appears to prove that Clayton Morris personally stole over $20,000 from him. In addition, James provides evidence from 12 other victims who've banned together to fight back against Clayton Morris & the Morris Invest scam. He also explains how other victims who've been keeping quiet thus far can jump into the fight.
In this episode of The Landlords From Hell Show we go over newly discovered evidence in an update on the allegations that former Fox News Anchor Clayton Morris and his company Morris Invest worked with Bert Whalen and his company Oceanpointe Investments to defraud investors in what has been called a real estate Ponzi scheme. In addition we discuss Bert Whalen's arrest and federal indictment as well as the outrageous $7.2 Million Dollar Lawsuit between Clayton Morris and HoltonWiseTV.
In this episode of The Landlords From Hell Show we take a deep dive into the many stories circulating the news cycle alleging that former Fox News Anchor Clayton Morris and his company Morris Invest worked with Bert Whalen and his company Oceanpointe Investments to defraud investors in what has been called a real estate Ponzi Scheme. In addition to providing insight into the media coverage James Wise speaks with alleged victims of Clayton Morris, Clayton Morris himself and other industry professionals including Jay Hinrichs, Meet Kevin, Indianapolis Property Managers and much more.
In this episode of The Landlords From Hell Show Holton-Wise CEO James Wise talks with the founder of RentWerx and PropertyManagementMastermind.com Brad Larsen about the differences between a good landlord, a landlord from hell and everything in between. Beyond that the two breakdown things that good Property Managers do to keep landlords out of legal trouble, why Property Managers need to strive to create a better client experience industry-wide and why a landlord introducing himself to a tenant can create a mommy and daddy issue. Plus much more.