This review is LONG overdue, about 12 years, to be exact since we’ve lost a TON of money because of Marshall Reddick Real Estate.
And, some of the other reviews seem suspect at best, with ‘two’ reviews by others, glowing about Marshall Reddick.
My (now) wife and I went to one of his “investment” seminars; “cash out, re-fi, take the equity and use that for three down payments on more properties” get rich quick scam/seminar.
Sound familiar? I’m the skeptic, I was sitting there going this is reckless, this is a scam working within the kickback “Marshall Reddick Network.”
She wouldn’t listen, was gung-ho about buying more property. We already own three houses (ALL positive cashflow) but she wanted to expand.
After this “seminar,” she took them up on the offer to come out to Vegas to see properties there with “their” realtor on a tour with other suckers.
Everything was “Hurry, hurry, hurry… properties are moving quick, don’t think, just buy or you’ll miss out!!”
That was the sell at the seminar, that was the sell meeting up with this group.
I laughed out loud at the production of it at the Las Vegas affiliated office when we walk in and the head realtor was ‘busy on the phone’ while we stood around and waited, she was on a ‘frantic phone call’ motioning for us to wait, be right with us. She was supposedly talking to someone, closing deals, working, working, working!! It was such a ‘show’.
She hangs up, “Whew, client just bought three properties sight-unseen… such a hot market!”
Oh, we’d better just give you our money then! Ughhh.
Anyway, so we go on this tour of North Vegas, which at the time, we didn’t know was a hell hole and was getting worse.
This group of houses was easily the best we’d seen all day though and their sell was, “It’s close to Nellis, positive cashflow, huge demand for military housing.” My wife didn’t know the market, trusted the “Marshall Reddick Network”.
She believed them and actually bought one for around $119K. It’s been a nightmare money pit ever since.
The neighborhood turned into a nightmare, trashed months after.
Every tenant was horrendous; smashing walls, destroying the place, stealing the air conditioner, breaking the slide glass doors. Money. Pit.
Gee, not a single nice military family in an “up and coming neighborhood,” as we were promised by the “Marshall Reddick Network.”
After we bought it, they left us out to dry. All of that teamwork within the “Marshall Reddick Network” was gone… thanks for buying, buh-bye suckers.
There was NO DEMAND for rentals there – NONE. We had to scramble, to lower the rent so much that it was a horrible negative cashflow… and, on top of the rent being so low, in a robust market, this property was losing money daily… then the crash, and now it’s about even now but the renters are horrible still because we can’t find anyone decent who wants to live in that area.
The Marshall Reddick pitch is to sit on a property while it increases in value and simply rent it out and break even or have positive cashflow but knowing that in a couple years, you can cash out equity, refi, then buy more properties.
Nope. This was the complete opposite; losing property value, rent way less than the mortage, awful tenants causing damage.
Long story short… as I told my wife, you can’t trust strangers. The whole production was a lie, the whole investment non-sense with them is bogus.
We have normal properties that are making money hand over fist in Hawaii and California… ones we found on our own and used our own “network” with reputable people… vs. some ‘get rich quick’ network of people giving each other kickbacks if they can assembly-line you down from the seminar, to the tours, to the selling, to the property management.
There is a lot of money to be made in real estate… but go anywhere else than with this scam.
For instance, our current house… bought eight years ago, now literally worth $180K more than when we bought it. We did that ‘without’ the Marshall Reddick Network :/
(I mean, even look at these fake reviews on here… that should sum it up — used car salesmen; all with the same language, all in ‘realtor speak’.)