Northpark Flip: 2 Malibu

NEW -> Contingent Buyer Assistance Program
USCTrojanCPA said:
How about we split the middle and say that it has to close by Labor Day 2011?  That's another 3.5+ months.
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I could give him another 15 days, or so, but I feel 120 days is exceedingly fair. Realtors, brokers, anyone involved with the housing market knows that the market can swing or shift by the seasons (e.g - Spring is a better seller period than Winter).

I've always talked about things in the "current" market, not the market of 2012, or the market of 6 months later because I'm not a fortune teller.

I feel if 4 months isn't enough for NonFCB, he's basically admitting that the house is not priced right for the CURRENT market, but if it'll close the bet, I'll be willing to do 135 days on the MLS instead of 120 (2 more weeks and change, basically). But he should hurry because the house already has 39 listed days.
 
USCTrojanCPA said:
IndieDev said:
TustinRanchResident said:
Looks like Indie has finally met his match!!
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We'll see! NonFCB has about 3 months to prove his point.
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Can you add $3,000 for my side bet with NonFCB with your accountant/financial advisor....PM me where I need to send the check.
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Sure. If NonFCB accepts the bet with the amended 15 days added to the time limit, I'll be sending information to everyone.
 
NonFCB knows the owner.  The house could be sold for 1.1M with a with an under the table rebate of 23K to the buyer.  ;)
 
trip said:
NonFCB knows the owner.  The house could be sold for 1.1M with a with an under the table rebate of 23K to the buyer.  ;)
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So he'll spend 23k to win 13k from me and USCtrojanCPA? That seems like the type of financial logic that a genius like NonFCB might use.
 
IndieDev said:
There is no such thing as a legal contract with some skinny asian kid typing away on his daddy's computer playing tough guy.

If he is 18 and over, I want to go through my personal accountant.
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I'm not an attorney but I believe there's no such thing as a legal contract when it comes to placing wagers, no matter the age of the parties. Illegal contracts are unenforceable, plain and simple.
 
SoCal78 said:
IndieDev said:
There is no such thing as a legal contract with some skinny asian kid typing away on his daddy's computer playing tough guy.

If he is 18 and over, I want to go through my personal accountant.
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I'm not an attorney but I believe there's no such thing as a legal contract when it comes to placing wagers, no matter the age of the parties. Illegal contracts are unenforceable, plain and simple.
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That is true, that being said, there are ways around it. For instance I could have my attorney draft a contract where NonFCB purchases a dish rag from me for $10,000 with the added stipulation that 2 Malibu must close for under $1,100,000 before 120 days on the MLS, or if the home is delisted.

But you're right, I'd never ever enter into an illegal contract.  :)
 
Starlight East said:
IndieDev said:
I want to go through my personal accountant. He has over 1,500 clients in Irvine/Tustin, he's legit.
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He's legit? That's what they said about Bernie Madoff (and he had even more than 1,500 clients).

Why don't you all just hide your cashier's checks in a Woodbury park and PM me the location. I'll hold it for you.
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Yeah right, so we can make the mortgage payment on your overpriced Woodbury East albatross? No thanks.
 
You know, this thread is one of the best.

Indy better watch out, some fcb might swoop in there with money to burn and get it for 1,099,999.99 and nofcb will throw in a buck for him.

I don't want to throw in my 2cents because non-fcb will start cursing at me like earlier in the thread.
 
I must say this thread's entertainment value has been very high.  I'm waiting on the Indie and NonFCB to finalize the terms of the wage so I can piggy back into it.  :D
 
USCTrojanCPA said:
I must say this thread's entertainment value has been very high.  I'm waiting on the Indie and NonFCB to finalize the terms of the wage so I can piggy back into it.  :D
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I'm doing it for the kids.  :D
 
USCTrojanCPA said:
I must say this thread's entertainment value has been very high.  I'm waiting on the Indie and NonFCB to finalize the terms of the wage so I can piggy back into it.  :D
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If the bet does occur, it would be a good Talk Irvine community meet and greet opportunity when the money is handed over to the winner.
 
IndieDev said:
Where is NonFCB? Did his daddy take his computer privileges away for not doing his math homework yesterday?
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You are still acting like a kid. I want to see you IQ report (minimal 80 needed) to make sure you are competent enough to make a bet by yourself so that your wife and your dad won't cry fouls when you lose your pants. I will give you a couple of days to get tested. During this time, I will talk to the owner to see how he can sell the house faster with $13k incentive from you and USTrojanCPA.  He needs more people like you and USTrojanCPA so that higher incentive is available for potential buyers.
 
Starlight East said:
IndieDev said:
I feel if 4 months isn't enough for NonFCB, he's basically admitting that the house is not priced right for the CURRENT market
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That's not correct. When a house sells in less than 6 months, it was priced too low. If it sells between 6-12 months it was priced right.  So you should take the bet with 12 months.

NonFCB is waiting for you to accept the bet!
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I'm only quoting this post for future reference, to teach others about how misconceptions about the housing market can cause some people to make poor financial decisions.
 
NonFCB said:
You are still acting like a kid. I want to see you IQ report (minimal 80 needed) to make sure you are competent enough to make a bet by yourself so that your wife and your dad won't cry fouls when you lose your pants. I will give you a couple of days to get tested. During this time, I will talk to the owner to see how he can sell the house faster with $13k incentive from you and USTrojanCPA.  He needs more people like you and USTrojanCPA so that higher incentive is available for potential buyers.
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So basically you're admitting that you're going to cheat, and that you need a cash incentive for this house to actually sell at the ridiculous price this house is listed at.

I just want to make it clear for everyone to see.
 
IndieDev said:
NonFCB said:
You are still acting like a kid. I want to see you IQ report (minimal 80 needed) to make sure you are competent enough to make a bet by yourself so that your wife and your dad won't cry fouls when you lose your pants. I will give you a couple of days to get tested. During this time, I will talk to the owner to see how he can sell the house faster with $13k incentive from you and USTrojanCPA.  He needs more people like you and USTrojanCPA so that higher incentive is available for potential buyers.
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So basically you're admitting that you're going to cheat, and that you need a cash incentive for this house to actually sell at the ridiculous price this house is listed at.

I just want to make it clear for everyone to see.
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It seems you don't even understand the meaning of "faster" and "incentive". Talk to a TIC representative. The owner can keep the house at this price for four months. If it doesn't sell, he can apply $5k incentive in next two months, another $5k in another two months. Competent people like Frank69m and IHO won't bet on your side. I don't want to take advantage of you and need to see your IQ report first.
 
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