Jump to content

Memorial mod on TLC 'flip that house'


apower

Recommended Posts

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

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.

Edited by Jeebus
Link to comment
Share on other sites

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

Edited by rps324
Link to comment
Share on other sites

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

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??? :wacko:

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)

Edited by gnu
Link to comment
Share on other sites

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

  • 5 weeks later...

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 show

2. the lady sold it for the price mentioned on the show

3. 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 sale

5. her "profit" at the end of the show was likely off by about $45k due to the realtor/closing cost issue

6. it took 1 week longer to sell than what was mentioned on the show

all 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

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 show

2. the lady sold it for the price mentioned on the show

3. 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 sale

5. her "profit" at the end of the show was likely off by about $45k due to the realtor/closing cost issue

6. it took 1 week longer to sell than what was mentioned on the show

all 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

  • 1 month later...

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

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 :wacko:

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
×
×
  • Create New...