Marshall Reddick Real Estate Network

Comments(6)

• 
  sanjosee26th November, 2003

  I dont have any personal experience so please continue to ask around. However, I have heard from some disgruntled investors that have tried his program. Basically you are paying close to retail price for the investment property & hope that the appreciation in the market is enough to sell the property. He tartgets a lot of new construction or HUD properties. Many end up with neg. cash flow.
  
  Good Luck

• 
  rein80528th November, 2003

  Thanks for the response! Does anyone else have any input? It does appear that he instructs to buy new, HUD, or VA forclosures. Many of the properties out of the So. Cal. area that he endorses claim to have a positive cashflow with 5% down. A little different that So. Cal. Anyway, any insight will be appreciated.
  
  Thanks!
  Kevin

• 
  HouseHuntersUSA2nd January, 2004

  Hello
  
  From disgruntled investors, I've heard that the only people who make money in Marshall Reddick are the people (mortgage brokers, agents, property managers) that he sets you up with.
  
  Just my $.02, stay with what areas you know. Be cautious with anyone whose main focus is to lure out-of-the-area investors. If you decide to invest out of state, please, please do your due diligence. Whenver I think about investing in a property farther away, tne advice of a multi-millionaire investor ring in my head--- don't invest in property you can't drive to in 20 minutes.
  
  Best of luck with all your investments. [ Edited by HouseHuntersUSA on Date 01/02/2004 ]

• 
  reklats28th July, 2004

  Marshall reddick is a major scam. He makes 3% off every house gets a kick back from all the lenders he pushes and over states how much money you'll make. He misrepresnts himself and what he does and that he has a stake on buying homes. Also beware, when you buy you are workign with selling realtors not one that works for you but for Reddick. His property managers on the whole are not very good either. They will NEVER help you if you got a problem. He spends every waking moment teaching his "guru" classes which are nothing more than selling his "network" so he can line his pockets. Is it any wonder he was a professor at a university teaching marketing? He knows how to market, but anyone mixed up with him will get screwed IMO.

• 
  InActive_Account29th July, 2004

  I have bought two homes through the Marshall Reddick network after observing on the sidelines off and on for five years. I am an experienced investor who has done well without such a network. I only bought the two i did through him because I carefully examined the information and traveled to the areas myself. I bought a condo in Hawaii which has appreciated tremendously (what I was going for) but has a negative cashflow. I plan to sell it soon. The property management is AWFUL!!! I bought another in Florida (Wesley Chapel, near Tampa, new construction phase 1.) It is worth $20,000 more than I contracted for ($144,490 contract price). That is a buy and hold. I'll keep you posted on property mat there, rental market, etc. I have bought others near Wesley Chapel without Marshall's guy there because I was very unhappy with his network realtor. Bottom line - you can get good info and act on it with due diligence but you'll likely want to buy on your own.

• 
  active_re_investor29th July, 2004

  I do not stick to anything like the 20 minute rule (drive to the investment in 20 minutes).
  
  There are parts of the country where it is very difficult to make the numbers stack up. Even if you could get positive cash flow you may have to lock up so much equity the returns just do not look that interesting. Hence I invest in different locations.
  
  You do need to do your homework and you do need to spend some time in the local market to get a feel for the place. You need to learn how the local market work and who you can depend on. Expect some added costs initially until you get things up and running (travel being one obvious one).
  
  John
  Property spread over 11 time-zones.
  [addsig]