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We lost most of our retirement because we believed that Marshall Reddick was a man of his word. We bought 2 properties in AZ in early 2006 based on his recommendations and used his referral realtor. He knew the market there was already diving, but he continued to promote it as the top market. We had a horrible experience with Brewer Caldwell, the realtor/property management company, including damage to one of the properties that they would not take responsibility for. (They let potential renters have access to the property without supervision.) We went almost a year without renters even though they has said we'd have renters in 3-4 weeks. The saga continues because we were not able to sell. Now the properties are worth $140, 000 EACH less than we paid. We've lost most of our retirement and we cannot get any help from Marshall Reddick! They won't even return phone calls or respond to letters. DO NOT USE HIS REFERRALS!
The complaint has been investigated and resolved to the customer’s satisfaction.
There is a termed used in real estate law, caveat emptor (buyer beware). The same holds doubly true for these real estate gurus selling their rags to riches “advice.” I took a Marshall Reddick one-day investment seminar in Mission Viejo, CA a few years ago, purchased much of his material and was almost lured into his network.
But something bothered me about Reddick’s scheme. He gets a piece of the action – all the action! Someone who gains a commission (kickback) from all of his referrals, including licensed real estate brokers, is someone to AVOID!
My advice to you is to see if Marshall Reddick is licensed to sell real estate in Arizona. If he is not, he has probably broken state law because he freely admits getting .5 % kickbacks from his real estate broker referrals. If your real estate agent paid Reddick or his company any kind of a fee at all, the law has been broken by both parties and I urge you to file a formal complaint with the state’s real estate commission.
Marshall Reddick has probably bankrupted many people around the country. I’m in Central Florida now where Reddick was imploring people to buy as many properties as they could afford in Palm Bay. It’s a bust town now where foreclosures abound – many of them are hapless first time investors. My guess, Reddick will eventually be taken down by a class action lawsuit and criminal investigations by state real estate commissions.
Best of luck to you.
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.
I attended the Marshal Reddick seminar at Saddleback Community College, believing that the the college would have at least audited his seminar. The building was full of for the Saturday seminar. The course was supossed to teach you how to retire early through real estate investing. After the first 20 minutes, it was all about them selling you thier properties.
His expert advice and key points that he told us to write donwn were things like "Buy pretty houses" and "Buy houses near the beach, because that's were people want to live", what a joke.
People were falling over each other trying to get copies of the fliers of the proporties they were selling.
It was obviuos to me that since they set the prices and required you to finance them through thier network, that they were the only ones that were going to make any money. If you defaulted on the loan they would get the property back and then sell it to some other schmuck.
I've never purchased or owned a house before, but I know that the price should be negotiable, and based on comp sales of the surronding homes. When we broke for lunch I drove home and serarched the internet for reviews on his course instead of going to lunch with them. When I found all the negative reviews, I didn't go back for the second half or the home tour. I only wished I'd looked before I paid for the class.
Save your money and don't trust this bs!