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All Forum Posts by: John Clark

John Clark has started 5 posts and replied 1200 times.

In addition to what others have said, keep in mind that New York City, San Francisco, Los Angeles, and other big league cities have the scale and mass to absorb tens of millions of dollars in investment without going "tilt." Spend tens of millions at a crack in second tier cities or smaller and you disrupt the entire market. Big begats big.

Post: Wholesaling Contracts and Driving For Dollars???

John ClarkPosted
  • Posts 1,228
  • Votes 954

Your offer, contract, and assignment, documents are the most important documents, as they are the bases for all rights and responsibilities. That means you need a lawyer first. Tell the lawyer what you want to do and how you want to do it. Ask him to research if it is legal in your state, and work arounds for doing it legally. Then have him draft accordingly. 

Then you work on how to value properties, and how to estimate rehab costs.

THEN you start looking.

Post: Scammed 30k by Lacey Dickinson in Cape Coral Florida

John ClarkPosted
  • Posts 1,228
  • Votes 954
Quote from @Tri Tran:
Quote from @John Clark:

Why did you ignore the red flags?


The only two people I trust in real estate are my mother and my wife. My mother’s dead, and my wife doesn’t get involved.

 Well, she seemed reasonable at first and I thought my broker, Rent to Retirement had properly vetted her. Once I made a non refundable 30K to supposedly furnish and build it out after opening escrow, I kind of knew there was no going back and that I had to put all my trust in the seller agent and supposed future property manager. I know, very stupid of me. 

Hire a lawyer. Maybe you can do a contingency fee arrangement and get some of the $30k back.
Quote from @Rajagopalarao Paidi:

How much value goes down for a house with foundation issues, found a house for FixNFlip, they mentioned it has foundation issues and they got them fixed, but whats the value reduction from market price , How safe it is to purchase house like these 

Not safe at all unless you have an INDEPENDENT inspector who really knows foundation issues gets all the documentation from the seller and talks to the seller’s contractor and then conducts his own inspection of the foundation, house, and surrounding lot. That’s expensive and time consuming. 

Me? I’d walk.

Post: Scammed 30k by Lacey Dickinson in Cape Coral Florida

John ClarkPosted
  • Posts 1,228
  • Votes 954

Why did you ignore the red flags?


The only two people I trust in real estate are my mother and my wife. My mother’s dead, and my wife doesn’t get involved.

Find an Ohio lawyer to not only defend you on the government charges but to go after the contractor.


How much real estate experience do you have? I’m guessing not much.

Quote from @Emma Johnson:

Yes I checked It is listed as an option on their website everything online looks legit. Thanks for the suggestion 

What do you mean "an option?" It is licensed or it is not for the loan you want. Also, don't go by the lender's website. Check the state regulatory agency's web site. Also check for complaints against the lender.

Also get a detailed statement from the lender of all closing costs, fees, charges, etc., etc., well before closing. If they spring something on you at the closing table, run, don't walk, away. Nothing should be an "estimate." Better to lose a non-refundable application fee than your shirt.

Quote from @Tyler Speelman:

Hello, 

I am getting ready to list a duplex for sale and before signing the listing contract I would love to get your opinion. The "Cooperative Fee Authorization" states "Seller authorizes Listing Firm to offer a part of listing firm's fees to selling firm. Said fee shall be divided: 4% of the purchase price plus $0 to listing firm and 2% of the purchase price plus $0 to selling firm." As a seller would you question this and renegotiate a lower percentage of purchase price (3% to listing firm only), or request it is a more even split? Would a 2% commission be a disincentive for buyer's agent? 

Any advice would be appreciated.

TIA! 

On what basis do you think that the buyer’s agent is going to do significantly less work than the seller’s agent? Who is your target buyer who needs so much less help? Be able to articulate that difference when questioned about it.

Post: Hurricane advice - LTR flooded

John ClarkPosted
  • Posts 1,228
  • Votes 954
Quote from @Mitch Davidson:
Quote from @Timothy W.:
Quote from @John Clark:
What's your solution for people who lived on a mountain in North Carolina?

Looks like someone removed the original post. This one should stay though. There are lots of outside people spouting idiocy these days. They're like children that provoke for attention. And they're almost never local. Locally here in Western NC, we're all together for the cause of helping each other, especially the most needy, rebuilding, etc. The energy, dedication, sacrifice, and unity is unbelievable. These armchair quarterbacks need to come over here and jump in to help, or otherwise find something else to gossip about, out of respect. We're mourning the loss of friends and neighbors, some of which haven't been found yet, not to mention favorite places, small businesses, animals, you name it. While dealing with property damage, our kids' PTSD, loss of income, car loss, etc. And you want to say we disregarded risks. Please come say that to me in person. I'll send you my address.

For keyword followers, this post is about Asheville, Swannanoa, Fairview, Burnsville, Black Mountain, Spruce Pine, Bakersville, Weaverville, Barnardsville, Old Fort, Fletcher, Hendersonville, Mills River, Candler, Red Hill, Mars Hill, Marshall, Woodfin, Erwin, and many other great places we call home.

If you looked at what I wrote I said western NC gets one free bailout due to unexpected severity of flooding. As a former inhabitant of coastal New England, I will match flooding and storm and erosion stories with anyone, any day.
Quote from @Bill B.:

If there's nothing in the HOA about outside smoking then her telling the HOA is the same as her telling her friends. To quote a famous thinker:

“It just doesn’t matter.”

In regards to tree branches over the property line she can and should cut them herself. In many states If the tree falls on her property she’ll have to make a claim with her insurance, not yours. 


 Depending on the circumstances the neighbor could be making a claim against the adjoining owner, not her insurance. Small claims court maybe. Can’t compel somebody to claim vs their own insurance.