Kouri Richins Trial/ Flipping Houses

Laban Marsh and Nedvonne Young get down to the business of talking business. Laban is the king of Real Estate in Erie, PA with Marsha Marsh Reality. Fresh is our entrepreneur extraordinaire, owner for FreshFold Laundry Co. in Chapel Hill, North Carolina, among other venturers, which include an AI Company that helps Non-Profit organizations.

We answer questions from our illustrious viewers and offer guidance to start. Unfortunately, I decided to throw the plan of the episode off those proverbial rails because I wanted to discuss the Kouri Richins trial.

Currently happening in Utah, the case is based on if she intentionally killed her husband with fentanyl. However, the details we about her finances, which is why I sought my two experts for help.

Richins got her master's degree, real estate license in 2019, began what was a "successful" house flipping business. However, she was losing money on several of her filps, was taking loan after loan out from different creditors. Several being Hard loans, which Fresh had to explain to me. Kouri took out $60K with the promise of paying back 80K in 12 months. Fresh said you would only do that if you are expecting to make a big profit on the flip.

I asked about the Midway mansion she purchased in 2022 for 2.9 million. The amendment before closing said the house was inhabitable. It was bulit on wetlands, animals lived on the property. I asked Laban if he would ever purchase such a property. Renovations estimated at $3 million. Laban and Nedvonne said not in a MILLION years would you buy that property.

Richins closed on the mansion the day after her husbands death, put it back on the market 10 days later, and it ended up being forclosed on later that year.

Laban and Fresh talked about people who jump into house flipping, expecting it to be easy money. They said Kouri was clearly inexperienced, made a bad situation worse, and kept digging the hole deeper. A fascinating episode you don't want to miss.