Doug Clark (investor)

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Doug Clark
Doug jet2.JPG
Clark in 2016
Education University of Utah
Occupation(s)TV personality, real estate investor, house flipper
Website http://www.dougclarkevents.com

Doug Clark is an American real estate investor and TV personality. Before getting into real estate, Doug also worked as an airline pilot. Between 2011 and 2012, he was featured on the Spike TV reality television series Flip Men alongside co-host Mike Baird. The series follows Baird and Clark as they purchase foreclosed houses at auction, remodel the homes, and sell them for return profits.

Contents

Early life

Doug Clark was raised in Murray, Utah and went to college at the University of Utah. In 1997, he received a bachelor's degree in economics Magna Cum Laude, and became an airline pilot for Colgan Air. While there, he was both a first officer and pilot, and in 2004, he became a captain for SkyWest Airlines. On his days off, he developed an interest in real estate investment. He bought his first home at an auction, and resold it within three days. Clark continued to work as an airline pilot until 2011. [1] [2] [3]

In late 2019, the FTC sought to shut down the Utah based real estate firm promoted by Mr. Clark. [4] On March 22, 2024, the FTC announced it would begin issuing $16.7 million in refunds to thousands of customers defrauded by Response Marketing, the Utah-based real estate investment training firm promoted by Mr. Clark. [5] Doug Clark was cited as instrumental in the promotion of the fraudulent scheme, which defrauded thousands of customers who bought into the celebrity real estate training scheme.

Real estate

Clark met with Mike Baird in 2004 to learn how to enter the property flipping industry, and shadowed Baird until 2005 when they formed Equity Capital Group and Clark Venture Capital together. The business of the companies was to finance their buying, renovating, and then reselling homes purchased at auction. [1] [3] [6] [7]

By late 2011, Clark had bought and sold 750 houses over five years in the Salt Lake City area, and by 2012, he had bought and sold one thousand. [2] [8] Clark has said that he only buys a small fraction of the homes he researches when looking for properties to invest in, [9] and that the purchase price is the most important thing he looks at when making a decision on an investment. [10] He has also been interviewed by the media regarding the best methods of house flipping and the differences between varying markets for property investments. [11] [12] [13] He has also toured US home shows to give speeches about his business [6] and has been interviewed about the logistics of purchasing homes at auction in regard to his television series. [14] [15]

Reality television

In 2009, Clark and Baird began working with television producer Danny Thompson to create a web series called Foreclosure Boys. [2] The series involved the creation of about 90 YouTube videos per year about their business and different projects they would encounter. David Broome saw the videos and approached Clark and Baird about developing a reality television series surrounding their business. [2] [8]

In 2011, Clark and Baird began producing and starring in the reality television series Flip Men on Spike TV, which focused on the restoring of houses abandoned during the housing crash—in particular, the more extreme cases of property degradation in comparison to the rehabbed result are shown. The show debuted on October 25, 2011, featuring properties in Salt Lake City. [1] [16] The series was renewed for a second season in 2012, [17] which received an audience of about one million viewers per episode and three million per week including reruns. [6] Houses featured on the program include both smaller properties as well as large unkept mansions. [18]

Seminars and events

After production of Spike TV's Flip Men halted in late 2012, [19] Clark began to tour the country hosting real estate seminars. [20] Clark's teaching platform focuses on three main teaches practices: Becoming a successful landlord, fixing and flipping homes, and using financing to flip wholesale properties. [21]

Related Research Articles

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References

  1. 1 2 3 Jamshid Ghazi Askar (October 27, 2011). "From flipping homes to stars of reality show 'Flip Men'". Deseret News . Archived from the original on February 28, 2014. Retrieved March 19, 2014.
  2. 1 2 3 4 Lorri Vodi Rupard (November 20, 2011). "Flip Men's Doug Clark: I'm a risk taker who got lucky". Utah Film Reviews and Interviews. Archived from the original on February 25, 2014. Retrieved March 19, 2014.
  3. 1 2 "Doug Clark biography". IMDb . Retrieved March 19, 2014.
  4. ↑ Clark, Doug. "FTC seeks to shut down Utah-based real estate investment training program". KSL News. Retrieved 2019-11-07.
  5. ↑ Clark, Doug. "$10M in refund checks on their way, in Utah's largest-ever consumer settlement". KSL News. Retrieved 2024-03-22.
  6. 1 2 3 Lorri Rupard (December 13, 2012). "Flip Men: Two Utah boys and reality realty". Daily Herald. Archived from the original on September 26, 2014. Retrieved March 19, 2014.
  7. ↑ Mary Ellen Podmolik (October 4, 2012). "Property flipping regains traction in Chicago area". Chicago Tribune . Retrieved March 19, 2014.
  8. 1 2 Mary Umberger (November 30, 2011). "Spike TV's 'Flip Men': more than 750 houses bought and sold". Inman News. Retrieved March 19, 2014.
  9. ↑ David Cross (August 6, 2012). "Spike TV's Flip Men: Secrets to Turning a Profit". Huffington Post . Retrieved March 19, 2014.
  10. ↑ Ryan Owens (November 29, 2011). "'Flip Men' Stars Talk Reality of Fixing Up Foreclosures". ABC News . Retrieved March 19, 2014.
  11. ↑ Evan Nemeroff (November 1, 2012). "Property Flipping Gaining Steam in 2012". Mortgage Servicing News. Archived from the original on September 24, 2015. Retrieved March 19, 2014.
  12. ↑ "24/7 Wall St.: The best cities to flip a house". USA Today . October 22, 2013. Retrieved March 19, 2014.
  13. ↑ Brady Dennis (October 15, 2012). "Flipping Houses Is No Longer a Flop of a Business". The Washington Post . Archived from the original on September 24, 2015. Retrieved March 19, 2014.
  14. ↑ Dawn Wotapka (August 9, 2012). "Q&A: House Flipping Still at Home on Reality TV". The Wall Street Journal . Retrieved March 19, 2014.
  15. ↑ Melinda Fulmer. "Homebuying secrets to steal from flippers". MSN Real Estate. Archived from the original on September 11, 2013. Retrieved March 19, 2014.
  16. ↑ Lauren Schuker (July 25, 2011). "TV Home Shows Flip Scripts". The Wall Street Journal. Retrieved March 19, 2014.
  17. ↑ Scott Pierce (August 9, 2012). "Utah's 'Flip Men' ramp things up in Season 2". Salt Lake City Tribune . Retrieved March 19, 2014.
  18. ↑ Neil Genzlinger (April 18, 2012). "On Reality TV, Every House Has Its Horror". The New York Times . Retrieved March 19, 2014.
  19. ↑ "Paramount Network".
  20. ↑ Clark, Doug. "Doug Clark Events". Doug Clark Events. Archived from the original on 2016-04-07. Retrieved 2016-04-08.
  21. ↑ Horn, Brian. "Doug Clark, The New Face of Real Estate, Predicts That Anyone Can Make Money in 2014". Yahoo.
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