Anyone else like the show Flip That House?

[Shawn]

It's really amazing how much profit can be made from this stuff. Some people really do an amazing job.

Someone bought this one house for $90,000 which was a complete dump. All the paint was peeling off the walls and it looked absolutely disgusting. The guy put $45,000 into it and fixed it all up and it looked beautiful when he got done. He ended up listing it for $215,000.

 

[Injury]

I like "Flip THIS House" better than "Flip THAT house"... Flip THIS is the one that usually has Armando and is an hour long, flip THAT is only 30 minutes and usuallly doesn't have the same person every time.

Are you talking about the Cat House? The first 30 minutes of that made me want to puke. I can't believe people can treat a house like that.

 

[Shawn]

Originally posted by: Injury
I like "Flip THIS House" better than "Flip THAT house"... Flip THIS is the one that usually has Armando and is an hour long, flip THAT is only 30 minutes and usuallly doesn't have the same person every time.

Are you talking about the Cat House? The first 30 minutes of that made me want to puke. I can't believe people can treat a house like that.

Uhh, what? TV guide says Flip That House, and they are all an hour long.

 

[amdskip]

I tivo them all, some of them turn out as real hack jobs and I wouldn't want to live there but its very interesting to see how these people do things.

 

[BCYL]

If you do the modifications right, and the timing is right, sure there are tons of money to be made...

However there's a tremendous amount of risk involved... the local market could tank while you are fixing up the home, and you end up carrying the home for a while before being sold...

 

[SuperSix]

Originally posted by: Shawn
It's really amazing how much profit can be made from this stuff. Some people really do an amazing job.

Someone bought this one house for $90,000 which was a complete dump. All the paint was peeling off the walls and it looked absolutely disgusting. The guy put $45,000 into it and fixed it all up and it looked beautiful when he got done. He ended up listing it for $215,000.

LISTING IT FOR is the key statement. Not what it *sells* for.

Yes, I watch the show, have been watching the marathon all day.

 

[mugs]

Originally posted by: Injury
I like "Flip THIS House" better than "Flip THAT house"... Flip THIS is the one that usually has Armando and is an hour long, flip THAT is only 30 minutes and usuallly doesn't have the same person every time.

Are you talking about the Cat House? The first 30 minutes of that made me want to puke. I can't believe people can treat a house like that.

I stopped watching Flip THIS House after Richard Davis left. Wasn't a fan of the Montelongos. The Atlanta group was a bit more likable, but neither could compare to the Trademark group.

I watched Flip THAT House a few times and didn't care for it. They seemed to deal with people who didn't really know what they were doing, mostly Californians who were trying to flip a house for the first time and knew nothing about construction.

 

[Pabster]

Yeah, it's great. My DVRs are full of 'em.

I like Property Ladder too.

 

[Injury]

Originally posted by: Shawn

Originally posted by: Injury
I like "Flip THIS House" better than "Flip THAT house"... Flip THIS is the one that usually has Armando and is an hour long, flip THAT is only 30 minutes and usuallly doesn't have the same person every time.

Are you talking about the Cat House? The first 30 minutes of that made me want to puke. I can't believe people can treat a house like that.

Uhh, what? TV guide says Flip That House, and they are all an hour long.

One is on A&E and one is on... TLC/Discovery.

http://www.aetv.com/flipthishouse/

http://tlc.discovery.com/fansi...use/flipthathouse.html

Originally posted by: mugs
I stopped watching Flip THIS House after Richard Davis left. Wasn't a fan of the Montelongos. The Atlanta group was a bit more likable, but neither could compare to the Trademark group.

I watched Flip THAT House a few times and didn't care for it. They seemed to deal with people who didn't really know what they were doing, mostly Californians who were trying to flip a house for the first time and knew nothing about construction.

I can agree with that. I like the Trademark group ones, but their episodes aren't as dramatic. It's like... way too smooth of a show... Plus Armando's wife > idiot Ginger The thing about the ones with Armando is that they highlight a lesson for the show more... sounds cheesy but with the Trademark group everything is just like "Oh... we'll paint this. Okay, let's do landscaping. Alright, now let's have an open house that's also a party. Done."

Agree about THAT too... It seems like the episodes they do in the Nashville area are much better looking homes. You can only see so many $600k California homes before you want to puke over the cost of living there. hahah. They have a lot of stretches with their shows, too. I saw one episode where a guy put like.. 8k into renovations on a 2 bedroom condo and it was boring as crap.

 

[Kaido]

Is that the one with the two brothers?

 

[Mike2002]

Flip This House with Richard Davis and Trademark was the best one I thought. When he moved his show to TLC and named it The Real Estate Pros it really took a turn for the worst. His shows now focus on how he's such a philantrophist and is helping everyone out. Its cool that he's doing that and stuff but its seems like he's put himself up on a pedestal too much. imo of course.

 

[nick1985]

I like the show with the blonde with the nice tits and ass is the host. :thumbsup:


**edit**

Anyone know her name?

 

[Shawn]

I'm watching the one on TLC.


One thing I always notice is how many people knock down walls to open up the house. Makes you wonder why these homes weren't like that to begin with.

 

[bctbct]

I enjoy watching all of them. I do wonder sometimes how honest the flippers are with how much money they spent.

 

[Mike2002]

Sam Leccima wasn't too honest.

 

[Auric]

Originally posted by: SuperSix

LISTING IT FOR is the key statement. Not what it *sells* for.

Yes, I watch the show, have been watching the marathon all day.

Ja, and how much of this relied upon a bubble which has now burst? And how much did such TV shows exacerbate it?

 

[CellarDoor]

I've seen the show a few times and do enjoy it quite a bit (if we're talking about the one with different people every time). However, some of those people are so freaking stupid I can't believe it. I remember one episode where the girl bought a house without even looking at it, and it ended up having termites and a whole bunch of other problems. They fixed it up all nice, spent way over budget (they always seem to go over budget) and ended up not being able to sell the house because they had no idea what they were doing.

 

[Greenman]

From the two or three that I've seen, the shows seem to be about how to do inferior work and hide major problems, a great way to make huge profit, and face an even bigger law suit.

 

[BUTCH1]

Flipping is dead for now anyway, the market is already flooded with homes with
no buyers...

 

[AsianriceX]

Originally posted by: mugs

Originally posted by: Injury
I like "Flip THIS House" better than "Flip THAT house"... Flip THIS is the one that usually has Armando and is an hour long, flip THAT is only 30 minutes and usuallly doesn't have the same person every time.

Are you talking about the Cat House? The first 30 minutes of that made me want to puke. I can't believe people can treat a house like that.

I stopped watching Flip THIS House after Richard Davis left. Wasn't a fan of the Montelongos. The Atlanta group was a bit more likable, but neither could compare to the Trademark group.

I watched Flip THAT House a few times and didn't care for it. They seemed to deal with people who didn't really know what they were doing, mostly Californians who were trying to flip a house for the first time and knew nothing about construction.

For those that weren't aware about this:

http://www.flipthislawsuit.com/

 

[kranky]

Watched one of these shows for the first time the other day (Property Ladder). Some genius (Nathan) buys a condo in CA with his partner and their plan is to rehab it in two weeks(!) for $12K to make a $68K profit. Nathan refuses to do "manual labor", which by his definition includes making a phone call to have a dumpster delivered to the site. He stops by the condo periodically, spouts platitudes about "positive energy" and numerology like a brainless motivational speaker, while his partner and another guy do all the work. Week after week goes by with slow progress. Nathan's solution to the problem is to contract out the remaining work, but doesn't seem to care about the extra cost.

Sixteen weeks later, they still aren't done, have spent $20K, but have an open house anyway. Bottom line is that three RE agents give the same opinion on the value which will mean about zero profit on the attempted flip. Nathan refuses to drop the price, yet has to fork out $4K/month mortgage payments.

If that show is ANY indication of the typical "flipper", no wonder so many are going to go bankrupt.

 

[MrBond]

Originally posted by: BUTCH1
Flipping is dead for now anyway, the market is already flooded with homes with
no buyers...

I caught on to the series back last year sometime and watched a lot of the older episodes. It's interesting because you could really see the market start to change.

In the older episodes (2005-ish), they'd say at the end what they sold the house for. This season, most of the properties don't say they've been sold, just what they're listed at. I interpret this as the house not being sold.

One episode this season, Armando took an intern who was running a project (and freaking out about it) around to a bunch of houses he had attempted to flip, but hadn't sold yet, so he was renting them.

These guys make it look easy, but they have the benefit of experience and contractors who are willing to work for them. They negotiate the contractors down to a lower price than the contractor might want, but the contractors know that small profit with continued employment is better than a large profit for one job with no potential future work. If it was just your average Joe doing a single project, they're not going to get the construction done as cheaply (and won't make as much profit).

It's entertaining and somewhat educational - it gives me ideas as to what to watch for when buying a house (although I don't see myself buying a lot of the properties they buy in the condition they're in).

 

[BUTCH1]

A couple bought my mom's house to "flip" it in late 2005. Because it was on beachside
(FL) he paid 275 for it. This is a 2br 1.5bth 1150 SF with no garage. Probably put 5-7K
in remodeling and re-listed @305K....no bites, in fact it's now listed@245K so they are
willing to take a 40K-ish bath just to get out!. It will be interesting in the coming months
to see how far the government will go to ease the disaster that looms in the mortgage
industry.

 

[Staples]

I have only seen it a few times but I like the fact that the Montelongos are in it because I get to see some familiar sites from this city where I live.

 

[BoomerD]

My wife sometimes watches "Flipping Out." I'm often amazed that no one has planted a hammer in his forehead the way he talks to people. I don't care if he's gay or has OCD, a certain measure of respect and courtesy goes a long way...