Marshall Reddick Network
I am wondering if any of you have any experience working with Marshall Reddick Network. His approach seems very aggressive. His network is big. That makes me think he has a lot of happy members. Any input will be appreciated.
He is a scamer! He sells inflacted properties like 120% of value. There is so much to say about him it will take a long time. The best way to read about him is to google him. Read everything about him that is not connected to his network. He is BAD news. :-x
Basically you are led to believe that properties are listed at current market value in the area, Many properties in the program are over fair market value for the area.
When you go to refinance or sell the property and expect appreciation on the property you purchased you will find in most cases your investment has no profit value for resale or loan purposes since you purchased it above fair market value.
The program mostly requires you to use their mortgage brokers!
Basically they control the entire process!
The Mortgage Broker
The appraiser
When any program controls both the mortgage broker and appraiser you will most likely be stuck with a property that has an inflated FMV (fair market value).
So in just when you purchase a property above market value it becomes vary difficult to make a profit!
Some investors have done well with Marshall's group.
You have to decide what would be best for you, as with any program or teaching when they preach wealth overnight and how easy real estate investing is investigate before you jump.
There is no get rich overnight in real estate but over the long term you can build wealth in real estate with knowledge and hard work.
[addsig]
I have purchased three rental properties through Marshall Reddick. One has done very well in appreciation while the other two has not, yet. You have to keep in mind that Marshall's interest to sell you a property and make his 3%, or whatever he negotiates with the local builders. You are getting nothing more than a warm contact with the local builder/broker, so you will have to do your own market research in reference to forecasted appreciation, if any. I have a co-woker who jumped on Marshall's network and purchased two new rentals in SC, and is very happy he found this opportunity to invest and get tax write-offs. The bottom line, you do your own research by talking and asking questions on renter base, talk to the local property manager as they are likely more open to tell you the truth about rental prices as Marshall will likely give you an optimistic rental income, and lastly, be prepared with cash as you will have vacancies, fixing expenses, etc.