Marshall Reddick and get rich quick Real Estate Seminars are no different. Marshall Reddick, in investors minds, gets credibility since he uses colleges and universities to hold his seminars. But, right off the bat, he is influencing investors to buy in their first class. Further brain washing takes place in the club meetings in many places. In all gatherings, classes and events properties are being offered and sold with false claims – purely impractical, as if no vacancy, evictions-attorney-court fees, vandalism, bad management lavishly billing on repairs (plus 10% on repairs), discounted rents. And then the false claims on GO ZONE around $50000 to $100000 tax benefits, which hardly any one can qualify, including Real Estate Professionals.
Facts in my case:
I ran in trouble through Marshall Reddick’s Danny Mimms in South Carolina of Palmetto Preferred Properties. Danny Mimms (or Daniel Mimms) passed me to a SC agent Chris Bowes who sold investment properties near Savannah Georgia. On false cash-flow numbers off by $250 to $350 per month by Chris Bowes in Bluffton SC sold me this brand new house in Port Wentworth near Savannah through Seashore Real Estate, which is going out-of-business as of this writing. Also selling the property by over $9000 (verified by CMA myself), and promising that property needed to be closed before they can get in contract with ready tenants, so I closed escrow hoping and believing the favorable cash flow numbers by Chris Bowes. This was all plain lie, my 2 brand new properties remained vacant for 4 months. On-site (not on-site within 2-4 month) property manager Ava Lavergne of pooler was difficult to work with, unavailable, not replying to calls or emails, and marketing the 2 houses poorly and above all volatile temper. All of this neglect forced me to place advertisements on Craigslist, move.com and others, and started handling all calls and emails. Chris Bowes of Coastal Investment Network is the same realtor mentioned above, also offered me to bring other investors for 3% commission. Now you can see why one must avoid these sharks, they are no help to get investors discount at buy time but sell you more expensive since you are out of state. In my case 8% commission too. I came to the conclusion that properties pushed by Marshall Reddick in many cases are troubled properties that local investors do not want to touch and Marshall Reddick goes and for hefty commission is able to sell to is investors thousands of dollars more expensive, and with no follow-up or replies to investors inquiries later on. After buying the property one goes through the suffocation of property management company, third phase of disaster is when an investor wants to sell it out-of-state with fear of care of property-care and vandalism(s).
I approached all managers at Marshall Reddick 12 times in 4 months about my miserable investment outcome, and no reply. The man Ed Synicky replied in an overdue email “Change Managers” that is all, and I have never heard back from any one, and I still see the same full-of-hype advertisements to still prey on investors.
Also I have problems on other two properties buying through Marshall Reddick, one of it is in highest crime area, manager came with a gun to meet me at the property. Also vandalism, eviction, you name it happened to my house. This Marshall Reddick disaster came through Ryan Tucker at Enterprise Realtors, Arlington, Tennessee. The owner Jon Moultrie at Enterprise Realtors shouted at me to not call them saying I must only contact Chris Minter at Marshall Reddick – well no response to my complaints there or even comment on a long Memphis police crime report compiled within ½ mile of my rental house. No response at all, neither by Chris Minter nor by the Operations Manager Ed Synicky at Marshall Reddick.
In this Internet age, investors do not need Marshall Reddick when they can do all the work themselves by getting better property manager and attractive location, rather than investors concentrated to compete causing lower rents. I did buy myself many other properties and happier and satisfied with the outcome. Must see the property and the location before making offer. There is no such thing is Armchair Investing as was touted be Marshall Reddick. |
113 days ago by Giselle Quintero [