Do you watch "Flip That House"?!
Question: If so, do you BELIEVE some of the prices they pay for some of those dumps!
Answers: If so, do you BELIEVE some of the prices they pay for some of those dumps!
I watch the show and I think a lot of those people are out in California. Wish home prices were like that where I live - my house would be over a million dollars!! LOL!
Ha, I actually saw this show for the first time over the weekend. I've heard of people doing this, but the people who did it on the shows I watched were incredibly stupid. If they'd done it before, I couldn't tell. They didn't stick within their budget because they didn't know how to properly budget, they didn't finish in time (or at all, lol), and while it did look nicer, they didn't get much of a profit.
That's the problem with real estate in those pricy areas. My sister and her husband live in a trailer park (yes, a trailer park, with run-down trailers) in an expensive Florida town, and they paid something like $120k for their trailer! I live in a nice starter neighborhood in Illinois, and my house (with an attached garage and big, fenced in yard) was about half that.
However, I think the only way to successfully flip a house would be to buy one in a nice neighborhood in a nice town for an outrageous price. There are houses in my town that sell for literally $15k, but they are small, run down, and in crime-infested neighborhoods.
I watch it all the time and I agree. I`ve seen some real dumps that go for 350K What I find really cheap on these shows is the amount they pay for labour! They`ll put in 10K countertops and many thousands for the bathrooms but at the end when they add up the amount for renovations you can see that they paid a pittance for labour! I live in Canada and for 350K you could get a real beauty that`s in mint condition for that!
I LOVE "Flip That House"!! But those prices!! I bought my house (nice cottage, small town only 45 minutes from DC, at the south end of the Skyline Drive for the Blue Ridge Mountains, and can walk anyplace in town with lots of festivals) for only 48K 8 years ago. It's all in the area. I'm in Virginia, but not 'Northern VA or 'The Peninsula'. There it's so expensive. Love this question!!
I saw a small portion of it one day before we had to go out. It blew my mind. They must be made of money or no common sense or most likely both.