apower Posted August 5, 2007 Share Posted August 5, 2007 Did anyone see an episode of "Flip that House" on TLC that was on tonight (Sat. 8/4) from 7-8pm? It was a ranch in Memorial that got butchered up. Does anyone know the address or har listing from that one? I remember briefly seeing it online. It is the identical model of the house that we bought in Westbury (of course for less than half the price). I would love to find the har pictures so that I can do a compare/contrast between that style of flip and what we are doing. Link to comment Share on other sites More sharing options...
Jeebus Posted August 5, 2007 Share Posted August 5, 2007 I watched it. I thought a couple of things: 1. that woman was an annoying idiot 2. her husband should have never let her do that project 3. I feel sorry for the buyer that bought that thing, seeing as to what amount of care was put into it.The funniest thing however, was to watch the episode following this one where the lady bought a 1100sq ft 2 bedroom, 1 bath house in a Los Angeles suburb for the same price that the flipped Memorial ranch went for: 500,000 dollars. Link to comment Share on other sites More sharing options...
Dan the Man Posted August 5, 2007 Share Posted August 5, 2007 It was a ranch in Memorial that got butchered up.I wish those home improvement reality shows on TLC and HGTV would fall out of favor with the general public. While their intentions may be good, the shows just encourage remuddling. Link to comment Share on other sites More sharing options...
rps324 Posted August 5, 2007 Share Posted August 5, 2007 I wish I could remember where I saw the discussion and link, but one of the news stations in Atlanta sort of "busted" that show. Apparently Flip This House shows how the house gets a buyer and they make $X amount of money and so forth, but the reality turned out that the house had not sold, there was no real buyer, TLC staged the whole thing. If I can find the link I will post it.Those shows are nothing but commercials for Home Depot anyway.Edit: Here it is, it was here on HAIF (where else?!) in a discussion started by Flipperthread Link to comment Share on other sites More sharing options...
missjanel Posted August 5, 2007 Share Posted August 5, 2007 Did anyone see an episode of "Flip that House" on TLC that was on tonight (Sat. 8/4) from 7-8pm? It was a ranch in Memorial that got butchered up. Does anyone know the address or har listing from that one? I remember briefly seeing it online. It is the identical model of the house that we bought in Westbury (of course for less than half the price). I would love to find the har pictures so that I can do a compare/contrast between that style of flip and what we are doing.12310 Perthshire Link to comment Share on other sites More sharing options...
gnu Posted August 5, 2007 Share Posted August 5, 2007 I wish I could remember where I saw the discussion and link, but one of the news stations in Atlanta sort of "busted" that show. Apparently Flip This House shows how the house gets a buyer and they make $X amount of money and so forth, but the reality turned out that the house had not sold, there was no real buyer, TLC staged the whole thing. If I can find the link I will post it.Those shows are nothing but commercials for Home Depot anyway. Edit: Here it is, it was here on HAIF (where else?!) in a discussion started by Flipper thread Sounds like we need a little tv show clarification... Flip This House is a one hour program on A&E. It's the one that RPS mentioned that had the problems with the old Sam Leccima Atlanta episodes. Currently there are new episodes on A&E with another Atlanta company, A New Haven company, and the Montelongos in San Antonio. The show that the Houston house was on tonight is called Property Ladder and it is an hour program on TLC. Flip That House is a 30 miinute program also on TLC but completely different from Flip This House Confused yet??? People just need to realize that these shows are just entertainment and no more real or any less scripted probably than The Real World on MTV.(or insert random reality show here) Link to comment Share on other sites More sharing options...
sevfiv Posted August 5, 2007 Share Posted August 5, 2007 i saw it too (Flip That House on TLC, not Flip This House on A&E ) here is the Perthshire house pre-flip and post-flip Link to comment Share on other sites More sharing options...
jm1fd Posted August 5, 2007 Share Posted August 5, 2007 I wish I could remember where I saw the discussion and link, but one of the news stations in Atlanta sort of "busted" that show. Apparently Flip This House shows how the house gets a buyer and they make $X amount of money and so forth, but the reality turned out that the house had not sold, there was no real buyer, TLC staged the whole thing. If I can find the link I will post it.Flip This House and Flip That House are two different shows. A bit confusing, I know.A bunch of folks dug up a bunch of dirt (repossessed houses, flaky looking trusts/companies, etc) on the Montelongos of San Antonio at this blog. Its a great read, albeit long. Link to comment Share on other sites More sharing options...
ldogg Posted September 4, 2007 Share Posted September 4, 2007 saw this show and tracked down the "real" deal with it... my wife is a realtor so we pulled up the MLS listings... a couple of notes:1. the lady bought it for the price mentioned on the show2. the lady sold it for the price mentioned on the show3. they showed the lady put out a FSBO sign for her "open house"... the house was listed on the MLS by an agent... 4. they do not account for any closing costs either at purchase or sale5. her "profit" at the end of the show was likely off by about $45k due to the realtor/closing cost issue6. it took 1 week longer to sell than what was mentioned on the showall in all, by my estimates the lady probably profitted about $35-45k on the house... the show claims her profit to be like $85k or something... the dangerous issue with all of this is that many people try to "flip" and estimate profits of $30-40k and don't take into account all the closing costs and commissions... then figure you get taxed on it as well.... Link to comment Share on other sites More sharing options...
rps324 Posted September 4, 2007 Share Posted September 4, 2007 saw this show and tracked down the "real" deal with it... my wife is a realtor so we pulled up the MLS listings... a couple of notes:1. the lady bought it for the price mentioned on the show2. the lady sold it for the price mentioned on the show3. they showed the lady put out a FSBO sign for her "open house"... the house was listed on the MLS by an agent... 4. they do not account for any closing costs either at purchase or sale5. her "profit" at the end of the show was likely off by about $45k due to the realtor/closing cost issue6. it took 1 week longer to sell than what was mentioned on the showall in all, by my estimates the lady probably profitted about $35-45k on the house... the show claims her profit to be like $85k or something... the dangerous issue with all of this is that many people try to "flip" and estimate profits of $30-40k and don't take into account all the closing costs and commissions... then figure you get taxed on it as well....the holding expenses are what can kill you too. Unless you are paying cash for the property up front you have interest expenses, plus what it cost you in closing costs when you purchased it, as well as your share of closing costs when selling, plus utilities, lawn care, taxes for the duration that you own it, etc. Link to comment Share on other sites More sharing options...
apower Posted October 10, 2007 Author Share Posted October 10, 2007 Another of the same model house as ours/the TLC house just came on the market down the street from us. Unfortunately, it is listed a possible teardown. I can't understand the pricing of this house at $225k. Way too high for lot value and presumably only about 25k under market value of the house in good condition. I really hope someone saves this house. Also, I will get around to getting pictures of our house up soon.http://search.har.com/engine/dispSearch.cfm?mlnum=4485713 Link to comment Share on other sites More sharing options...
sevfiv Posted October 10, 2007 Share Posted October 10, 2007 Another of the same model house as ours/the TLC house just came on the market down the street from us. Unfortunately, it is listed a possible teardown. I can't understand the pricing of this house at $225k. Way too high for lot value and presumably only about 25k under market value of the house in good condition. I really hope someone saves this house. Also, I will get around to getting pictures of our house up soon.http://search.har.com/engine/dispSearch.cfm?mlnum=4485713 not to be crude...but did the owner of this house die or something? i don't understand how someone could own a home since 1994 and let it get this bad Link to comment Share on other sites More sharing options...
flipper Posted October 10, 2007 Share Posted October 10, 2007 wowzers! Standing water inside! I've bought worse though flipper ps. as an investor I'd probably not pay more than 140k for that house. Link to comment Share on other sites More sharing options...
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