Complaint Review: Marshall Reddick Real Estate Network - Irvine California

I was a member of the Marshall Reddick Network, went to a number of his meetings, took classes and also bought properties through the organization as a novice investor.  I do agree with some that we all have to take responsibility for our investment actions but the Reddick group also used their agenda to paint a rosy picture of creating wealth beyond a middle class existence that was void of any real hard knock real estate realities.  They were riding the wave to reel in as many sells as was physically possible.
     Reddick area managers and local RE always assured us that the areas we were considering buying were not being overbuilt (not an easy thing to realistically research yourself as an armchair investor) but as many investor discovered, rents would eventually have to be decreased or stay vacant for far too long.  The fine print of having a percentage of back-up monies was stated but not stressed. Zero, 5%, 10% down was pushed to not only up their own sales but to also increase the number of investments you could acquire on your way to becoming a serious investor.  Their was never any discussion of an adequate profit margin buffer to prepare for increases in: HOA's, Property taxes, Management Fees, or for stagnant rents and for major out of pocket repairs from damages beyond a tenant's security deposit.  Unless you ignored their hard sell of low percentage loans and instead put 20% + down on your investments, you had a tough time staying positive over time. In other words, the elephant in the Reddick monthly meeting room was ignored.
     The Reddick group had a responsibility to be completely upfront with these new investors they were recruiting for profit and since they portrayed themselves not as a mere broker but also as an educator, research/development organization, and network they were partially to blame for the fall of many a Reddick investor.

I have to agree with Chris; Marshall is acting like a broker and is probably not responsable in most cases for financial loss of the investor. I'll bet there a lot of people who have made a lot of money by listening to Marshall and using his "armchair investing" techniques. I believe Marshall does offer some value to the beginning investor. His seminars are interesting, offer valuable insight and are inexpensive. In fact, I partially credit Marshall with the success I've had in real estate - not by buying through his network (I did buy one property which was an unpleasant experience), but by using much of his advice and strategies, I have been able to purchase many properties around the country and all are in the black and doing well. I believe a lot of people that listen to a mentor or instructor think that they are immune from having to do their own due diligence; they come to rely fully on the mentor. If you are investing several thousands of dollars and following the advice of someone you don't intimately know, you better do your homework. Just like any company, I'm sure there are those that have good experiences and those that have had negative ones.

I have to agree with Chris; Marshall is acting like a broker and is probably not responsable in most cases for financial loss of the investor. I'll bet there a lot of people who have made a lot of money by listening to Marshall and using his "armchair investing" techniques. I believe Marshall does offer some value to the beginning investor. His seminars are interesting, offer valuable insight and are inexpensive. In fact, I partially credit Marshall with the success I've had in real estate - not by buying through his network (I did buy one property which was an unpleasant experience), but by using much of his advice and strategies, I have been able to purchase many properties around the country and all are in the black and doing well. I believe a lot of people that listen to a mentor or instructor think that they are immune from having to do their own due diligence; they come to rely fully on the mentor. If you are investing several thousands of dollars and following the advice of someone you don't intimately know, you better do your homework. Just like any company, I'm sure there are those that have good experiences and those that have had negative ones.

I have to agree with Chris; Marshall is acting like a broker and is probably not responsable in most cases for financial loss of the investor. I'll bet there a lot of people who have made a lot of money by listening to Marshall and using his "armchair investing" techniques. I believe Marshall does offer some value to the beginning investor. His seminars are interesting, offer valuable insight and are inexpensive. In fact, I partially credit Marshall with the success I've had in real estate - not by buying through his network (I did buy one property which was an unpleasant experience), but by using much of his advice and strategies, I have been able to purchase many properties around the country and all are in the black and doing well. I believe a lot of people that listen to a mentor or instructor think that they are immune from having to do their own due diligence; they come to rely fully on the mentor. If you are investing several thousands of dollars and following the advice of someone you don't intimately know, you better do your homework. Just like any company, I'm sure there are those that have good experiences and those that have had negative ones.

I have to agree with Chris; Marshall is acting like a broker and is probably not responsable in most cases for financial loss of the investor. I'll bet there a lot of people who have made a lot of money by listening to Marshall and using his "armchair investing" techniques. I believe Marshall does offer some value to the beginning investor. His seminars are interesting, offer valuable insight and are inexpensive. In fact, I partially credit Marshall with the success I've had in real estate - not by buying through his network (I did buy one property which was an unpleasant experience), but by using much of his advice and strategies, I have been able to purchase many properties around the country and all are in the black and doing well. I believe a lot of people that listen to a mentor or instructor think that they are immune from having to do their own due diligence; they come to rely fully on the mentor. If you are investing several thousands of dollars and following the advice of someone you don't intimately know, you better do your homework. Just like any company, I'm sure there are those that have good experiences and those that have had negative ones.

The Marshall Reddick Network is a big sales machine - they educate people about investing in real estate - they provide an overwhelming amount of information (I know I've been to one of their investror training classes). A close, long term family friend worked for Marshall. They get a referral fee from all the properties sold through the network. They educate people on the good points of buying property. As an avid real estate investor and one that actively seeks to educate myself (been through many investor training courses from multiple "gurus") - I can't see how they are responsible for the house that was purchased (built or not). The investor knew that house was not built. Just as the many people who buy with the expectation that the market will go up. Just because it has doesn't mean it will continue to. Buying any investment has its inherent risks associated with it. When buying an unbuilt home there is the risk that the builder might go sideways. How is that Marshall's fault? Did he know the builder was going under? If so then we have a clear case of fraud. Its not like the builder was telling everyone that things were going poorly for them - I bet most of the builders employees had no clue until the firm closed it doors (or bounced a paycheck). I'm tired of all these people complaining that they invested and the investment didn't work, so now its someone else's fault. It seems to me that the sheister builder was at fault. Yet becaue they probably can't collect from teh builder they are looking everywhere else. Marshall is a broker - he wants to sell you any property. Shouldn't that make you suspect that he is not giving fair independent advice? Its not different from any other real estate broker - they get paid when someone buys something. So they are always predispoised to encourage their client to buy. You should have done your own due dilligence on the builder if you thought that would have helped. Yet he is only a broker, do we get to sue our stock broker for Leaman Bros or the fiasco at GM? Or any other stock that goes belly up right after we buy it? To further seprate Marshall from the deal, he is only a referring broker - he doesn't even rerpresent the buyer or the seller (get gets a referral fee from each deal). The other broker who did the deal was teh one who had an agency relationship with the buyer and they likely referred the "respectable" developer in the first place. This is the same crap we see from people who have buyers remorse - from any investment guru - they either made a bad call, or didn't even actually apply the training and now blame teh trainer for bad or worthless advice. Hey - I don't know em all and some are bad people out there - but come on! Take some personal responsibility. Marshall wants to make a buck like anyone else. I don't invest through his network and know some people who did who are stuck with too much real estate as the market is now way down. But why is that Marshall's fault that he should have to pay up? I've used advice I've learned from the likes of Marshall, Sheets, Whitney and about 20 others. I've learned some great techniques that have made me some good money. Some investments did better than others. Thank you "guru's" for the information that helped my wife and I make money in real estate. Not all we winners. Every deal I've learned and gottten smarter. (I'm not promoting anyone - some of these guys are sharks and try to get too much for their services - but I have made money thanks to the things I've collectively learned from the likes of them on my investments.)

My name is Andrew and I am an equity share investor with the MRREN in the Port Charlotte area. I have 3 other partners. We experienced a similar situation with Marshall Reddick and have 3 properties where Atlantic Contractors was the builder and nothing got done. I am a California attorney and my partners have decided to file suit against Reddick, REMAX, and the builder here in California. I would like to speak with you about your situation. You can call me at (((ROR REDACTED))) or email me directly at (((ROR REDACTED))). I would like to hear from all investors who have been ripped off by Marshall Reddick. CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.