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The good, the bad, and the ugly - discover what customers are saying about Marshall Reddick Seminars

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J
7:17 pm EDT

Marshall Reddick Seminars bad due diligence

Marshall seems like a nice guy, a Christian wanting to help the middle class get out of poverty, but all the negative reviews, lawsuits and complaints on the internet make me leery.
I know he works with brokers, developers and property managers who do not follow through on their promises and are incompetent.
My friend attended a Live Event Marshall had with Adam Sachs. Beware of Adam, he is a simple minded charlatan and I and many others have lost lots of money on the investment offerings he presents. Marshall has been warned of Adam and his side kick Ryan from Green Light Realty in Arizona, but apparently Marshall doesn't care if people loose money. They can just blame it on the market. Inless you want to loose money, it is best to avoid all of these clowns! It can be an expensive three ring circus!

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Mike
PSL, US
Jan 26, 2009 12:55 pm EST

Here is a good example. In Port St. Lucie Marshall used A. Edward Gore Realty to arrange sales of homes and then manage the property afterwards. I tried to work with him and found I did not trust the guy and heard many complaints from other people who had bought property using him.

It appears that Marshall needs to better vet his network. According to this news article, Mr Gore is now under arrest for felony grand theft.

Real estate broker accused of using client money for personal, business use
TCPalm.com
Staff report
Sunday, January 25, 2009

PORT ST. LUCIE — A 59-year-old man was charged with grand theft by the St. Lucie County Sheriff's Office on allegations he absconded with an estimated $310, 400 in client money from a real estate firm that he owned.

According to an arrest affidavit, Arthur Edward Gore, broker and owner of A. Edward Gore Realty, told investigators “he had used security deposits held in a escrow account in his company name, under his control, as well as proceeds from rent — for personal and business use.”

The report said he admitted to using the money starting in late 2007 because, “he began having financial troubles in late 2006 due to the declining real estate market.”

Gore, of the 2000 block of Southeast Berkshire Boulevard, was arrested on felony grand theft charges on Friday, the report states.

On Jan. 14, a search warrant was executed at his office and law enforcement seized financial records, the report said. The St. Lucie County Sheriff's Office said in the affidavit that $86, 400 was taken from a homeowners association and $224, 000 was taken in security deposits belonging to various homeowners and renters.

An estimated 220 victims had told investigators their checks from Gore were being returned for insufficient funds.

Gore was released on $20, 000 bond.

No other information was available Sunday.

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kelly
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Aug 24, 2008 8:28 pm EDT

NO, NO, NO to Marshall Reddick. His methods will not work. And his property managers are terrible.

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Factual
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Jul 16, 2008 3:40 pm EDT

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.

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Giselle
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Jun 16, 2008 6:53 pm EDT

I agree with what this complaint had to say except for the part where Marshall is a nice guy and very christian. I think he wants to believe that he is, however, the fact that he continues to associate and worse to expose his investors to these scam artists really makes me doubt it.

There have been several bad deals, even law suits that involve him and his developers. I have invested with him in the past and have been burned, and I will no longer invest with him.

My many attemps to contact him for some answers to my situation have been ignored. Once he has your money, you are on your own. I am losing money on two of the 3 projects I invested in, and the third may be even worse because we have been waiting for almost 2 years for a Baja Project that has not even broken ground and they have my deposit of $64, 000 since 2006 with nothing to show for it. We are frantically looking for other investors who have also invested in this Baja Project so that we can do something about it. My advise to you is stay away and invest on your own, do the due diligence yourself, its your hard earned money that's at stake here.

ComplaintsBoard
J
5:38 pm EDT

Marshall Reddick Seminars Unethical Business

Marshall Reddick works with many unethical brokers, developers and property managers. I have lost money with the network.
We is working with Green Light Real Estate of Arizona, and I lost money with them as well. They are unethical and inexperience and offer bad investment opportunities too investors.
Be careful

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12:00 am EST
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Marshall Reddick Seminars Scam and rip off!

Marshall Reddick hosted a Rent Guarantee seminar when you purchase property. It stated that if tenants are not found immediately then they will pay the value of rental income for a year. It turns out the investor he used has not paid us for the 3 months,.. Reddick is not taking responsibility and keeps having the gentleman call even though the contract with him was termed. He should be responsible for the party. I am reporting to the Attorney General!

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Eileen
Irvine, US
Apr 08, 2009 3:16 pm EDT

If you have been screwed by Marshall Reddick like I have, please send me an e-mail at Ripped-Off-By-MarshallReddick@hotmail.com. I am keeping track of how many people were ripped off by Marshall Reddick and if there is any way for us to share our experiences. Thanks. Eileen.

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Susie Seher
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Aug 17, 2008 8:30 pm EDT

Marshall Reddick does a great job of looking like a good Christian and putting on a fake goodwill sermon about wanting to help people make money in real estate. Fortunately I fell for it only once. I owned rentals before the Marshall Reddick Network experience and I have purchased many rentals since. The only rental that I have had a horrible experience with is the one I purchased through his Network. I found out the hard way what went wrong. First of all, the price was inflated by 6% to cover his cut. Of course, he tells you in his seminars that price does not matter. Not true. Then his property management claims . . . well guess what? It is no bargain to be offered a discounted property management fee when the home is not rented by the property manager. After two experiences with two horrible property management companies recommended by the Reddick group, I had to fly 1, 000 miles to DFW and make arrangements to handle the property management on my own. Trust me, I am a way better property manager even at such a great distance. And third, about that promised appreciation . . . here's the problem with that nonsense. He selects a cluster of dog properties that are not selling in the real world. Most are in bad locations that will not sell to anyone but an out of state investor, the end result being the investor properties are all rentals clustered together with very few resident owned properties nearby. After hyping them to the Network in some fire sale webinar, the poor sucker who buys it hands it over to one of his lousy property management companies. If they even bother to find a tenant, they end up being the rotten property manager for all the other properties in the neighborhood and they have a knack for selecting rotten tenants and they cluster all the rotten tenants together in the same area which tends to do nothing but tear down the value of the neighborhood. Stay miles away from anywhere the Marshall Reddick Network it touting and you will do a lot better. I do fine on all of my properties except the Network one. And get this. The Network actually had the nerve to try to sniff around to find out if I'm about to foreclose so they can try to steal it back. I really feel sorry for people who fall for the Marshall Reddick plan. Invest on your own and stay close to home. That's my advice. And forget about falling for the good Christian routine. An outhouse smells better than that crock.

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John Tremper
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Aug 15, 2008 11:20 am EDT

Investors have to do their due diligence. Point blank.

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Forresto
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Jul 25, 2008 2:46 pm EDT

I have bought a total of 11 homes thru Marshall in different parts of the US since 2004. I have to agree

that Marshall leans heavily toward sales than really giving you all the necessary tools and gotchas that

you eventually experience yourself. It is a costly investment and doesn't payoff until years down the road.

When the only thing you have in your court is your rent increase over the years, it makes it difficult to

reduce your negative when property taxes, management/insurance/HOA fees keep rising. I have a few

that almost break even but the majority are negative cash flow. That's OK if your negative is minimal

monthly but costs do add up and somewhere along the line you have to re-evaluate what is worth keeping

and what is worth selling. If I were to do it again, I would put down 20% on everything and buy less

homes.

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jim
,
Apr 02, 2008 8:08 am EDT

My homes are vacant 50% of the time I womder if this net work is a big part of the housing problem we are having.

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Afzal Khwaja
,
Jan 04, 2008 10:46 am EST

Investors supposed to get good price and positive cash-flow. Well, both are pitched in by Marshall Reddick Real Estate Network (mrren) also known as MarshallReddickSeminars.com. But the truth is far from it in my experience. I bought three properties through the network and six properties myself, all out-of-state. Comparing, I can prove that through Marshall Reddick Real Estate Network, I have paid thousands of dollars more and with poor cash flow. The cash flow presentations on each property through the Network are only ideal to entice investors into buying - they do not include vacancies, repairs-paint-gardening, Management set-up fees, lease re-negotiating fees, repair fees, lower rent due to specific location, free rent incentives etc.. This means few hundred dollars negative cash flow every month. I also purchased through the network in a bad location via webinar, I suffered vandalism in the vacant property after the HUD purchase and after the $16500 repairs to make it rent ready. When I flew to the house to meet the Manager, he came with handgun strapped on his shorts, which scared me to see what kind of crime ridden the neighborhood might be. The property is still not rented for over two months. Un-listed Atlanta property belonging to an Attorney sold by Premiere South Realty through Marshall Network is coming at ½ the price of what I paid just 18 months ago. No return calls by them or lender on so high appraisal 18 months ago. I wished I had flown before making offers to avoid these horrible outcomes on all 3 properties I purchased. In short, buying though the Network is costing me thousands of dollars with lousy customer service from agents during sale and afterwards by the management company, and suffocating my investment with vacancies and charges.

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