Watching DC Flippers...... not impressed.

[glhs837]

So, I get that they cannot or dont want to say "Ikea Hacks", but to claim that modding Ikea cabinets into built-in's is a "signature" thing is a cheap thing. Speaking of cheap, they bought a house for 550K and plan to sell for over 700K, and then, rather than spend 2K putting in a new fireplace insert and about $100 updating the tile around it, they go with spray painting the insert black and vinyl wood plank. Ikea kitchen cabinets, what looks to be the least expensive hardware for the bath. Instead of replacing the nasty old tub, it looks like they had it painted. IMO, a house that sells for 750K should have top end stuff throughout. They were proud of not spending the inital 110K they budgeted for reno and only spending 80K. Watching, I see where they saved thee 30K, and it was not in the right places.

Not sure how many people are wanting to see people cheap out on a flip.

 

[Littlebit]

I was also watching it and thought well this is really awful shoddy so turned it off and will def not watch again.

 

[GWguy]

That's the whole idea of a flip, to invest as little as possible, make it appear nice and sell for as much as the market will bear.

Buyers really need to do their homework these days when buying a house.

 

[glhs837]

That's the whole idea of a flip, to invest as little as possible, make it appear nice and sell for as much as the market will bear.

Buyers really need to do their homework these days when buying a house.

Well, I think the level of product and workmanship you buy for your flip should sort of match the house you are selling. Taking a 60K 1,0000 square foot house and flipping it for 100K, then you might expect vinyl peel and stick tile for a fireplace surround, painted 30 year old fireplace inserts and Ikea cabinetry. With a 100 year old building for 3/4 of a million dollars, you should expect, and get higher end stuff than that. Buyer beware, I get that, but if you are going to cheap out on things, maybe doing a TV show extolling it might not be the best thing.

The idea of a flip should be that the new owner gets what they paid for, not what you could make look good enough to get it sold. I know, I'm crazy to expect integrity, but there it is.

 

[tommyjo]

The idea of a flip should be that the new owner gets what they paid for, not what you could make look good enough to get it sold. I know, I'm crazy to expect integrity, but there it is.

You don't seem to understand the concept of "flipping". GWguy does.

It's not about "integrity"...it's about maximizing speed and profit.

You also don't seem to understand the pricing of homes...age doesn't have much to do with anything...price is determined by location.

 

[GURPS]

Ikea kitchen cabinets, what looks to be the least expensive hardware for the bath.

before Flipping was popular, in the 1990s when I was a Plumbers helper we did work with a couple of contractors that 'flipped' property ....
.... they always gutted the Bathroom and Kitchen while not top notch we always put in standard fixtures - not contractor grade el chepo

 

[GURPS]

...age doesn't have much to do with anything...

 

[glhs837]

You don't seem to understand the concept of "flipping". GWguy does.

It's not about "integrity"...it's about maximizing speed and profit.

You also don't seem to understand the pricing of homes...age doesn't have much to do with anything...price is determined by location.

So, I can put you down for "Integrity doesn't matter", got it, not a very liberal attitude, I must say? Profit uber alles, got it. I understand there are two different ways to flip. One is where you do whatever you can to maximize profit, the other is where you accept less profit now to ensure your reputation as a builder doesn't suffer. You do make choices that could affect your long term profit. Want to bet this show doesn't last? And that their business wont take a hit? Think of like used cars. I can paper over defects to get cars off the lot, but long term that's going to catch up, especially in todays connected world. Or I can be make those cars workable. Not slap the cheapest Chinese tires and Dollar General oil. And age does matter if that is one of the selling points, character that simply cannot be found, or would be prohibitive to build now. That is part of the thing that people are buying when they buy these particular houses, that history. My house on Chancellors, built in 56, nope, it's age is actually a hit on it, because a lot of what was built down here then was for crap, no codes or caring.

 

[Clem72]

That's the whole idea of a flip, to invest as little as possible, make it appear nice and sell for as much as the market will bear.

Buyers really need to do their homework these days when buying a house.

Depends on the market. Many of these shows have outlined that you can invest $80k into a $300k property, sell it for $460k and make a 20% profit in 10 weeks, but only come out with $80k. Or, you can invest $200k into a $600k property, sell it for $920k and only make 15% profit but take home $120k in the same 10 weeks.