ED Magedson – Founder
John Ray7720 N 16th Street Suite370 Scottsdale, Phoenix, Arizona USA
John Ray BidAZForeclosures, Arizona Investors alliance,ReCreate Wealth Calls himself a Foreclosure Expert, Flipper and is on Property Wars on the Discovery Channel Scottsdale, Phoenix Arizona
Do not engage in business with John Ray. He claims to be a Foreclosure Expert and successful flipper; he gives seminars on how to purchase and flip properties; he appears on Property Wars on the Discovery Channel. He uses other people's money to purchase these properties and does always not pay back the loans. He did not pay back a $600,000 hard money loan borrowed for 6 months in 2006. At 18% interest and penalties that grew to a $1,127,659.14 judgment which was granted from a resulting lawsuit filed in Maricopa County, Arizona, CV 2011-010634 with a judgment received 5/1/2012 from the courts.
Facts about this and other bankruptcy information concerning John Ray are in a Phoenix Business Journal article dated 5/1/2013. All of the facts that John Ray gave to the author of that article are not correct but he does say that he is going to continue doing what he has been doing which may include not paying his debts. He took bankruptcy to avoid paying this judgment, 2:12-bk-21657, switched his LLC's from Arizona to ReCreate Wealth filed in Delaware to avoid transparency.
In Criminal Court, State of Arizona on 7/15/2010, Case No. J-1403-CR-201001323 John Francis Ray is cited for Marijuana possess/use and Drug paraphernalia possess/use. The Arizona Department of Real Estate (ADRE) suspended John Ray's Real Estate license (No. SA036311000) on July 31, 2011. From the 2005 Arizona Revised Statutes - Revised Statues 32-2122 License required of brokers and salespersons, subsection A,
"A. This article applies to any person acting in the capacity of a:
2. Real estate salespersons."
And from subsection B of that revised statutes,
"B. It shall be unlawful for any person, corporation, partnership, or limited liability company to engage in any business, occupation or activity kisted in subsection A without first obtsining a license as prescribed in this chapter and otherwise complying with the provisions of this chapter."
John Ray is inviolation of this statute many times over inasmuch that he buys houses at the Maricopa County courthouse foreclosure sales weekly for individuals and himself. The ones he buys for himself, after repairs and fixup, he "flips" mostly to individuals, apparently acting as a realtor but without a license. Some of this is portrayed on the Discovery Channel's TV reality show, "Property Wars", and is supported by his discussions on Twitter where he not only gives advice but discusses available properties for sale and touts his real estate successes. It would appear he is in violation of the statutes many times over based upon approximately 8 companies he has registered as LLC's with the Arizona Corporation Commission and ReCreate Wealth, the one now in Delaware, and at various times he has engaged in the the purchasing and selling of real estate using these LLC companies. Some of these LLC's are:
AIA (Arizona Investors Alliance), Zaxon Properties, AIA Holdings, JOHNRAY, BidAZforeclosure and PLUS A BUCK. In addition to his many real estate transactions, he is employed by Discovery Talent Services, LLC and, according to his bankruptcy papers, he was paid $72,000 in 2012.
In addition to not wanting to pay his loans, he did not want to pay for his child's support. He was sued in Maricopa County Arizona Familiy Court on 10-22-09, Case FC 2009-006096 for child support by Terrah Lund.
In addition to the above,John Ray paid for his federal 2008 IRS taxes in the amount of $247,554.90 on March 12, 2012 - approximately 3 years late! In his bankruptcy filing documents submitted on 10/01/12, the federal IRS had a claim against John Ray for his 2009 taxes in the amount of $172,518.43.
John Ray's home at 9202 E Via De Vaquero Drive, Scottsdale, AZ 85255, reported in his bankruptcy as $1,013,500.00 has been scheduled for foreclosure 10/1/2012 by Bank of America and has presently been postponed.
Since he got his bankruptcy in Spring, 2013, according to http://www.maricopa.gov, he has acquired nearly $2,000,000. in hard money loans to purchase distress properties. Obviously going through bankruptcy and his loss of his real estate license has had little effect on him.
Listed below are some links so you can do your own research:
This report was posted on Ripoff Report on 08/05/2013 06:35 AM and is a permanent record located here: http://www.ripoffreport.com/r/John-Ray/Scottsdale-Phoenix-Arizona-85020/John-Ray-BidAZForeclosures-Arizona-Investors-allianceReCreate-Wealth-Calls-himself-a-Fo-1073068. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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