The most trusted and popular consumer complaints website
Explore your opportunities! Create an account or Sign In

Marshall Reddick Seminars / Scam and rip off!

1 17100 Gillette AveIrvine, CA, United States Review updated:
Contact information:
Phone: (949) 225-0080

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!

Va
Sort by: UpDate | Rating

Comments

  • Af
      4th of Jan, 2008
    0 Votes

    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.

  • Ji
      2nd of Apr, 2008
    0 Votes

    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.

  • Fo
      25th of Jul, 2008
    0 Votes

    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.

  • Jo
      15th of Aug, 2008
    0 Votes

    Investors have to do their due diligence. Point blank.

  • Su
      17th of Aug, 2008
    0 Votes

    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.

  • Ei
      8th of Apr, 2009
    0 Votes

    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.

Post your comment