Finally saw a realistic flip episode! - Contractor Talk - Professional Construction and Remodeling Forum

Mike Finley · 05-21-2007, 08:03 PM

Finally, some reality in a flip show. I don't know which one it was, it was the one with the hot blond girl host bops in from time to time to see how it is going.

It was awesome, a young couple, he thought he knew it all, she was too passive, just along for the ride type, her man knows best type.

He totally over did things, put granite counter tops in a 230K neighborhood, thought he would sell it for 270k and make 100K, by the end they were both just hoping to not lose money.

It was a great episode because it was realistic of what a newbie should expect to happen. No experience, no construction experience, no nothing. Everybody he hired pretty much took advantage of him, the plumber charge him 3 gs for who knows, maybe 2000 worth of work that didn't pass code and the kept promising to show up to fix it but wouldn't.

They wouldn't say it but I'm pretty sure everybody he was getting was off Craig's list. He was heavily into the Internet to get his contractors.

Guy got so strapped he started really losing it, steppping over dollar bills to pick up pennies. Bought those cabinets you have to assemble yourself to save $300 on the kitchen then spent 7 days assembling them and paying another $1600 mortgage payment.

Anyways there was lots more, but it was great to finally seem some reality in reality TV, this couple couldn't simply do the California raise the price and find somebody to pay it trick when things went horribly wrong.

mickeyco · 05-21-2007, 08:09 PM

Was it property ladder?, I like that one.

Tscarborough · 05-21-2007, 08:11 PM

I have been cruising Craigs list for the last couple of months on advice from here. What a worthless waste of time. Personally I attempt to put the screws to anyone I can identify as a flipper, and it isn't hard to tell. The way I look at it is that they are looking to make some bucks the easy way, and that should be spread around the community a bit, espceially since they are a PIA.

Mike Finley · 05-21-2007, 08:11 PM

Must have been, that looks like her.

In_Mexifornia · 05-21-2007, 08:42 PM

I saw one episode of Flip That House where they actually went back a year after on a couple of the houses and they actually showed what they really sold the house for and how much they actually made. Nothing like what they said on the original show.
On one house, they were saying how they were going to make something like $70k-80k, but after the house sat on the market for a couple of months and after all the fees, they barely made 15k for almost two months work. The guy was working night and day. He used the money to put a down payment on a house and then got out of flipping.

I don't think i've seen the property ladder. maybe i'll check it out if it's more realistic than others.

Magnettica · 05-21-2007, 08:50 PM

Quote:

Guy got so strapped he started really losing it, steppping over dollar bills to pick up pennies. Bought those cabinets you have to assemble yourself to save $300 on the kitchen then spent 7 days assembling them and paying another $1600 mortgage payment.

Ha ha

That's rich.

Penny wise, dollar foolish.

Mike Finley · 05-21-2007, 09:00 PM

Yeah,

that's about the only time in the show I felt sorry for him, but only for a moment!

Just the image of him surrounded by all these flat boxes then I realized what he had done and I was like "NO WAY!" oh my God, what an idiot. Then they showed him reading the directions, I thought oh man, if this guy has to read the directions like this he's in for a long night and a world of hurt.

Nothing I can't stand except putting together those cheap as book shelves or furniture that is disassembled with those little metal things you stick in the wholes that turn and lock onto something. I'd rather have a tooth pulled then assemble that stuff.

.. and the guy had a whole kitchen to put together!!!

I have to admit I was actually rooting for the plumber who wouldn't come back out, but kept telling the guy he would be there for sure the next morning, then the next morning and the next... the guy was on camera .... it's 7:30, he's supposed to be here at 7:00... it's 11:30 still no plumber, calls him on the cell phone, umm are you coming .... an hour... okay... 4:00... tomorrow morning? Okay...

Is it bad to not feel sorry for people like this? I just think, what the hell do you think the outcome is going to be? You know nothing about this, what right do you have to come in and make $100,000?

Susan Betz · 05-22-2007, 10:22 AM

Quote:

Originally Posted by Mike Finley

You know nothing about this, what right do you have to come in and make $100,000?

Here's a guy that will make your blood boil:

I Am Facing Foreclosure

This guy lied on mortgage applications to acquire these properties that he was going to flip. Then the bottom fell out of the real estate market. He lost everything, is up to his eyeballs in debt, and all I can see him doing is blogging about his "experiences".

**Cole** · 05-22-2007, 11:00 AM

Quote:

Originally Posted by Susan Betz

Here's a guy that will make your blood boil:

I Am Facing Foreclosure

This guy lied on mortgage applications to acquire these properties that he was going to flip. Then the bottom fell out of the real estate market. He lost everything, is up to his eyeballs in debt, and all I can see him doing is blogging about his "experiences".

HAHA, I love the comments he is getting.

**joasis** · 05-22-2007, 01:25 PM

I have a neighbor that watched too many house flipping shows....so he partners up with a buddy, and they buy a wreck of a house and get after it. Paid like eight grand for a 1200 sq/ft brick shell needing a roof....

Long story short, and after adding about 35k of their own money, they list it for 85k, and get a buyer under contract....his credit fell through and the apraisal came in at 79....so back to relist....months go by, and they get a new buyer, 75k.....things look good til the home inspector shows up. My neighbor did all the wiring, uprgaded the interior panel to 200 amps, and placed it in a closet, falied to make the wire connections to code, failed to note that the home only has 60 amp service at the meter....did all the heat and air work himself....installed a used 1-1/2 ton central unit........plumbing without using the purple cleaner the inspectors love to see.....so here he is, with a house that the buyer ran from, serious issues here, and asks me if I can have my electrician and plumber "help" him out......I gave him their phone numbers......I wish I could hear the laughter.

And by the way, I told him he is lucky the state inspectors have not caught up with him since everything on the list is against the law for him to touch.....but you cannot tell some people!

lukachuki · 05-22-2007, 04:57 PM

Quote:

Originally Posted by joasis

I have a neighbor that watched too many house flipping shows....so he partners up with a buddy, and they buy a wreck of a house and get after it. Paid like eight grand for a 1200 sq/ft brick shell needing a roof....

Long story short, and after adding about 35k of their own money, they list it for 85k, and get a buyer under contract....his credit fell through and the apraisal came in at 79....so back to relist....months go by, and they get a new buyer, 75k.....things look good til the home inspector shows up. My neighbor did all the wiring, uprgaded the interior panel to 200 amps, and placed it in a closet, falied to make the wire connections to code, failed to note that the home only has 60 amp service at the meter....did all the heat and air work himself....installed a used 1-1/2 ton central unit........plumbing without using the purple cleaner the inspectors love to see.....so here he is, with a house that the buyer ran from, serious issues here, and asks me if I can have my electrician and plumber "help" him out......I gave him their phone numbers......I wish I could hear the laughter.

And by the way, I told him he is lucky the state inspectors have not caught up with him since everything on the list is against the law for him to touch.....but you cannot tell some people!

Sheesh....thats what watching tv will do to you. Makes you disconnect from reality I guess.

In_Mexifornia · 05-26-2007, 08:31 AM

I finally saw that property ladder show and what a joke. They must find the most inexperienced people they could possibly find. I thought the show would be more realistic, but those people don't even have a clue what they're doing.

Magnettica · 05-26-2007, 06:15 PM

Quote:

Originally Posted by Mike Finley

Yeah,

that's about the only time in the show I felt sorry for him, but only for a moment!

Just the image of him surrounded by all these flat boxes then I realized what he had done and I was like "NO WAY!" oh my God, what an idiot. Then they showed him reading the directions, I thought oh man, if this guy has to read the directions like this he's in for a long night and a world of hurt.

Nothing I can't stand except putting together those cheap as book shelves or furniture that is disassembled with those little metal things you stick in the wholes that turn and lock onto something. I'd rather have a tooth pulled then assemble that stuff.

.. and the guy had a whole kitchen to put together!!!

I have to admit I was actually rooting for the plumber who wouldn't come back out, but kept telling the guy he would be there for sure the next morning, then the next morning and the next... the guy was on camera .... it's 7:30, he's supposed to be here at 7:00... it's 11:30 still no plumber, calls him on the cell phone, umm are you coming .... an hour... okay... 4:00... tomorrow morning? Okay...

Is it bad to not feel sorry for people like this? I just think, what the hell do you think the outcome is going to be? You know nothing about this, what right do you have to come in and make $100,000?

I totally agree. I'm almost done wiring a kitchen where the HO decided his cabinet person was just a bit too expensive to do all of the GC'ing and took it upon himself to do it. He has no idea what he's doing and was up my butt all day asking little questions that he thought I might help him with. I was honest and told him he should've hired a GC to do all this because that is what they do. No one calls a plumber to come fix their computer!