Marshall Reddick: Comeback Company with Investor Resources
Hey, I’m Paul, the Real Estate Spy.
Just want to shake your virtual hand, give you a virtual cuppa joe, and see what’s up!
I’m glad you’re here, and I hope this review scratches the itch for ya.
You want the low-down on Marshall Reddick, yes? Interesting story! Kinda has a different twist from the other REI gurus out there. We’ll get to it in two secs.
First, can I just put the ask to ya: what brings you to swim in this pool?
Things drying up on the job front? Got a passion evaporation? Vibing a drought of clout?
Maybe it has to do with your stream of cash. Like, it’s just . . . well . . . not. What stream? Wife needs this, the house needs that, and HECK, when did your kid start consuming food like a freaking GREAT WHITE?
Hey, if that’s you, I get it. Or I got it.
Not there now, cuz a guy named James tapped me on the shoulder and said, Bro, check out digital properties. Yeah, you heard me. You can actually backstroke through Ben Franklins if you do this thing.
I did. And I haven’t looked back. (To Marshall Reddick real estate reviews in one sec.)
(Lemme quick tell you I did the hero-to-zero thing in REI: picked up a bunch o’ cribs, held ‘em, lost ‘em. Yeah. All of them. Those were sucky days, I can tell ya. Bankruptcy, divorce, you name it. On the way back up to the surface is when I met James.)
Soooo . . . I get your gig.
I want you to hear about the digital property gig. Why? Cuz it might be for you. Like it is for me. Go over to the Apply section and find out more then come back here.
And after that we’ll get to Reddick.
What did you think? OK, here we go with the review you came for.
Dr. Marshall Reddick: Background and Bio
There’s a lot to the Marshall Reddick story so I’m going to begin by giving you a thumbnail sketch.
Marshall Reddick started investing in real estate back in 1975. He aced it and quickly decided to pass on what he’d learned to other newbies.
He created a business out of training other people in real estate investing as well as helping real estate investors find homes to purchase as investment properties.
In the meantime, he was also a college professor of economics and marketing. He did this successfully for 30 years at California State University at Los Angeles.
When the economy tanked in the mid 2000’s, there were a lot of unhappy Reddick investors. You can easily find comment threads and complaints all over the web posted by these disgruntled customers.
Marshall Reddick’s company filed for bankruptcy in 2009. It didn’t disappear, though. In 2010 the Marshall Reddick Real Estate Network was bought by Ross Nelson and Scott Pastel.
So Marshall Reddick is not running his own company anymore.
That sums up Marshall Reddick’s story. Now we’ll go back and dive a little deeper into the different parts of the story.
Reddick bought his first rental properties in 1975, and it was in 1979 that he launched his vision to teach as many people as possible about investing and how to become financially free.
As he was developing his own business he also taught real estate investing courses for the national homebuilder’s association and the California Department of Real Estate. He regularly wrote articles and contributed to Creative Real Estate, which is a real estate investment magazine. He is a long time member of the National Speakers Association.
He has published over 25 books on wealth and health.
Reddick’s Vision: Eliminate Middle-Class Poverty
Dr. Marshall Reddick has a PhD in business and was professor of marketing and economics for 30 years at California State University Los Angeles. While there he founded the Entrepreneurship program and chaired its real estate continuing education program for 20 years.
The vision he had was to eliminate middle-class poverty. Although this sounds somewhat like an oxymoron, Ross Nelson, Co-owner and Director of Operations for Marshall Reddick Real estate today, explains it like this:
–You can go to high school and college, you can get your MBA, and not necessarily know how to manage credit cards or balance the checkbook. So the vision of wiping out middle-class poverty, what does that really mean? It’s the individuals that have new cars and nice houses. They have the picturesque American life but essentially it’s all financed. They are truly living paycheck to paycheck. Without a job they would default on some or all of those payments within six months.
Co-owner Scott Pastel says the vision of overcoming middle-class poverty is to educate the American public on ways to get a hold of their finances, set proper goals, take proper steps, and not cut any corners when it comes to achieving financial goals.
On his vision and passion, Reddick said, I loved helping people to be able to change their destiny. That’s what we became: a change agent for wiping out middle-class poverty and helping people build their dreams where they could retire successfully.
Marshall Reddick Real Estate: seminars, blogs, newsletter, calculators
Services fall into five categories:
· Real estate agents for clients looking to buy or sell their home or investment property
· Property management for landlords
· Private money lending for clients in need of non-owner occupied financing
· Mortgage and trust deed investments for clients wanting to invest in secured notes
· Industry leading online and in-person education and advice
Marshall Reddick, the company, is a team of people who offer traditional realtor services, for selling or buying, whether the purchase property is to be a personal home, an investment property, or a vacation home.
It’s also a training and education company.
Marshall Reddick.com shows an event calendar full of Marshall Reddick seminars, courses, and classes running now, at the time of this writing, and into the months ahead. Some of these are live events and some of them are webinars.
There’s also a Learn tab with an extensive article Archive.
You can filter these by length, author, topic, and category. Currently there are 131 articles, 87 videos, 28 guides, and calculators all available for free.
Some of the featured posts are on topics like online tools for real estate investors, and financial calculators.
Articles cover subjects like:
· solutions to avoid foreclosure
· why cash flow is as much of a guarantee as appreciation
· how to turn a $60,000 income into a $1 million retirement, and
· the right way to analyze investment properties
There are market studies and market updates on the website for people who are considering purchasing properties in specific market areas. For example, right now there are market updates on Indianapolis, Indiana, and Dallas-Fort Worth, Texas.
The authors of the blog articles are Scott Pastel, Ross Nelson, Eric Lorimore, and Reed Hazard, all team members of Marshall Reddick Real Estate.
Marshall Reddick Real Estate is on social media but not all over it. The Marshall Reddick Real Estate YouTube channel has about a page of posted videos, and the company is on LinkedIn, Twitter, and Facebook.
The podcasts that I could find under Marshall Reddick are more of his own personal podcasts on health and longevity and less company podcasts.
Marshall Reddick Real Estate Review: hero to zero and the trip back up
As I mentioned earlier, Marshall Reddick’s business went through some pretty tough waters when the housing market collapsed back in the mid-2000s.
There were a lot of very unhappy investors who purchased homes through Marshall Reddick with what they perceived as a promise of a healthy return on their investment.
When the housing market collapsed, many investor homes stood vacant and investors either lost their homes or lost a lot of money trying to keep the homes afloat. They filed complaints, called Marshall Reddick a crook, and filed lawsuits.
As a result there are quite a few complaints on the various gripe sites. This includes ComplaintsBoard.com, RipoffReport.com, LawyersandSettlements.com , and Forums.Redfin.com.
Redfin is not a gripe site but it has a forum where people can ask questions and talk about their experiences with programs or business ventures.
Bigger pockets is a site with a similar forum where people can discuss things openly. There is a thread there on a Marshall Reddick class-action lawsuit. The forum also has comments by people who defend Reddick.
Anyway, there are a bunch of complaints out there.
Marshall Reddick filed Chapter 11 bankruptcy in 2009. He succumbed to the market crash himself.
GlobeST.com published an article at the end of 2011 on Marshall Reddick Real Estate’s climb back out of bankruptcy.
The company was actually purchased and taken over by Ross Nelson and Scott Pastel and underwent a complete restructuring with a whole new group of professionals. Only two employees from the original company stayed on when the business was bought out and restructured.
Ross Nelson, Marshall Reddick Real Estate co-owner and director of operations, says the company implements strict checks and balances and is attune to the changing conditions of the real estate market so that the events that led to its collapse will not happen again.
Marshall Reddick Real Estate hired personnel from different real estate backgrounds. This is enables the company to develop new tools and resources to meet all its clients’ needs.
Ross Nelson said after the Chapter 11 restructuring, Marshall Reddick Real Estate was like a 30-year-old start-up company. He said many companies struggled with the real estate bubble popping and we were not immune.
On a Marshall Reddick Real Estate video, he says,
The Marshall Reddick real estate network is here to help investors of all ages and experience levels.
The part I enjoy most about working with Marshall Reddick Real Estate Is working with investors. I love hearing people’s stories about where they come from, the goals they’ve set and achieving those goals.
It’s really cool for me to see someone that may be a high income earner but also has a tremendous amount of debt or liability just from a lavish lifestyle. To get to know them and talk to them and set up calls for their future and have them achieve that . . . it’s so cool to me.
Well, that’s all I have for ya.
Hope it helped!
Thanks again for stopping by. Oh . . . if you slid by that video (didn’t think I’d notice?), do yourself a favor and go back to watch it.
I’m serious. It’s something you should at least know about!
Catch ya later.