Posted by Max-Va on September 18, 2005 at 20:25:27:
I Differ with you there are so many costs left out. Real estate commission, closing costs buying and selling. How much do they pay for furniture? I know when I rehab a house I have to leave it empty because when I tried to price renting furniture for showing it was 4K per month.
If you really think about what they show and what is there that is not addressed is a big difference.
A&E: Flip This House Show - Posted by Gerald(NC)
Posted by Gerald(NC) on August 30, 2005 at 08:17:01:
This show blows away Property Ladder by FAR! And I wanna know how the freak this dude does it! Watched it Sunday night, he redid a 2 story Charleston waterfront home completely in 2 weeks! and missed 3 days due to not getting permits. Sold it at his open house for a profit before fees of $197k! Needless to say, he does have a big crew he can get easily to do the work, but if I was gonna profit $197k I could get a big crew too lol!
Have you watched it? What’d ya think? Are the homes not more “everyday” type deals than Property Ladder, water front home aside? Most I’ve seen so far from the 3 episodes I’ve caught have been $210k or less.
Re: A&E: Flip This House Show - Posted by pete M
Posted by pete M on September 18, 2005 at 21:02:51:
Becoming way to predictiable
Re: A&E: Flip This House Show - Posted by rm
Posted by rm on August 30, 2005 at 21:59:07:
The implication is that the property sold at open house, but there are indications that this isn’t so.
For example, one of the waterfront homes they featured never disclosed a sales price.
On the latest episode, the house sold for less than the number that the agent (Vance) said was the giveaway price.
With all the things they get wrong, they do know how to get a rehab done quickly, and they’re obviously making a lot of $$$.
Re: A&E: Flip This House Show - Posted by Kenn
Posted by Kenn on August 30, 2005 at 18:11:35:
In my humble opinion, this guy is a real looney tune!! On one of the shows, he is going through the drive thru for some fast food and he doesn’t even hve his wallet. Then they get shut down because there is an ordinance that they can only work five days a week between seven and five. Why in the H#(l didn’t he find this out before they started? The show this past Sunday had a problem with permits and the neighbors were pi**ed off and complained and they had to go to the city and get the permits. Who does this guy think he is? I won’t waste my time watching it any more.
Also, there is no thought of salvaging anything. What a waste and it all goes to the landfill.
nuff said
Kenn
they have up to 55 workers there - Posted by I know
Posted by I know on August 30, 2005 at 15:47:00:
1 day. and they work dawn to dusk and beyond, sometimes pulling all nighters. they’re time frame is complete the work in 2 weeks. that’s a way to do it, but they have an office with overhead, as well up to 55 workers on site in 1 day. that’s an operation/business that is on another level compared to most rehabbers, particularily starting out.
Re: A&E: Flip This House Show - Posted by Mike(VA)
Posted by Mike(VA) on August 30, 2005 at 15:15:05:
Last Property Ladder featured two guys who bought a Craftsman style house in Pasadena. They told the purchase cost, holding time and holding costs, rehab costs, sale price and net profit. Maybe the show has had some REI input to make it more realistic.
Re: A&E: Flip This House Show - Posted by Rob
Posted by Rob on August 30, 2005 at 12:54:24:
I’ve seen this show and I love it. They actually do tell you the holding costs on some of the episodes. They don’t mention the buying costs, but we know how to figure that out. I’m so focused on cutting costs where I can, but this guy spends a lot of money to fix his properties up. We have a similar property investment company where I live. They have a 30 man crew and take about 10 days to fix up. They sell mostly on land contract. There work is kind of crappy though. The area I buy in would not yeild a sale on a single open house. But, if I knew I could sell after one open house, I would definetly spend the money to hire a large crew and make some improvements I normally would not make.
I have thought about on our next property having a large party open house. Everyone in the area would be invited and encourged to bring friends. This may work and will not cost a ton of money. At the very least I could enjoy some good beer with friends.
Re: A&E: Flip This House Show - Posted by Max-Va
Posted by Max-Va on August 30, 2005 at 10:07:02:
Watch those numbers, they don’t consider buying costs, selling costs and holding costs.
Re: A&E: Flip This House Show - Posted by Phyllis Benson
Posted by Phyllis Benson on September 17, 2005 at 11:25:22:
Love the show! I’ve been to Charleston at least a dozen times over the past 15 years or so and I never get tired of it. My daughter graduated from The College of Charleston in 2004.
When are we going to be seeing new episodes? I’ve seen all the episodes at least twice and I want more. Don’t change a thing, just make more episodes.
A&E got it right with this show. Keep it up. I’ve raved about it to all my friends.
More episodes, please!!!
Re: A&E: Flip This House Show - Posted by vacationlover
Posted by vacationlover on August 30, 2005 at 22:55:51:
Rob-
I like your style.
VL
Re: A&E: Flip This House Show - Posted by Always Angie
Posted by Always Angie on September 18, 2005 at 18:57:19:
I don’t know why everyone keeps stating they don’t show all the costs because they do. I’ve never seen an episode where they don’t disclose the purchase price, the renovation costs, and the final selling price. They don’t do it all at once like Property Ladder but spread it out during the show. I’ve never seen it NOT make sense and NOT make a profit. These people are professionals.
Does that mean that it can’t be cut tight or they might not make a profit on an episode? No. In fact, I’m watching the one in Greenville (used to live there years ago) where it’ll be cutting it close profit-wise.
As for the beach house that did not have the final selling price disclosed, that’s because they did not sell it and they stated such. Richard said it’d probably be a good year before the season came back around and a buyer would be interested. In the meantime, Tradewinds is holding all the costs and everyone is using it as a beach house getaway. That’s what was said at the end of the show.
The producers aren’t leaving off costs to try to trick the viewer. That’d be stupid. Anyone can figure out if something is missing or if the costs don’t add up in the end.