Flipping Out

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BethN_IHB

BethN_IHB

New member
There's a new reality show on Bravo called "Flipping Out." I was expecting it to be another HGTV-esque type of thing. Well, no way. The specuvestor guy has an admitted OCD, is anally pefectionistic, consults with his personal psychic, treats his assistants like dirt, and a compellingly funny train wreck to watch. He flips (mostly higher end stuff) in Los Angeles. At first I wasn't sure it was actually a "reality" show or a cleverly scripted series like "The Office". But, apparently this guy is for real. Great comic relief on a Tuesday night. I think you guys might get a kick out it.
 
I saw the first episode. I couldn't help but wonder how many other geniuses are out there who made a living buying during a bull market. A sound business plan profits from both up and down markets. This guy flipped houses during a bubble rally and thinks he is Donald Trump. I hope the show goes on long enough to document the extreme pain this guy is in for over the next several years.
 
<p>Ha! </p>

<p>I've seen two episodes - the preview of the third (?) looks like he may already be in trouble!</p>

<p>These shows are totally addictive - and not in a good way.</p>

<p>I kid you not : I saw not one, but two flipper shows recently, where the flipper either planned-to or did tear the used carpet out of their own home to put it in the flip property.</p>

<p>Ewwwwwwwwwwwwww!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!</p>

<p> </p>
 
<p>I saw the two episodes and Tivo'd the series. It's pretty funny. I could never work with a guy like that - he would drive me CRAZY. </p>

<p>Although, he does seem to have really nice taste and he doesn't cheap out on the flips. </p>
 
I've watched a few random flipping shows on Bravo and HGTV so far this year that are classic. Watching the flippers suffer is high-entertainment.





One lady couldn't sell her flip so "she liked it so much she decided she and her husband would just move there." LOL!
 
<p>And don't you love it when they give their budget and timeline, then when we come back after the first commercial they have exceeded both!</p>

<p>Why do they agree to be filmed - especially when they are shown hiding serious damage?</p>

<p>It reminds me of Taxicab Confessions - at what price "fame"?</p>
 
<p>ok, I actually have some good information on your questions Hobo....at least on the Valley Oak property. He bought it about 1 1/2 yrs ago, it was a wreck...with an actual tree growing into the living room floor. He spent almost a year on the reno, I'd estimate he put about 700K into it. He put it up for sale and sold it within 2 months for 2.6 million. Don't remember what he actually bought it for, but he really tricked it out. Yes, the guy is anal to the max, quite a p.i.t.a. to all of the neighbors on the street. </p>

<p>The house sold 3 months ago....so you can backdate it from there. My best friend lives on the street, so I watched the whole reno and filming. He also bought another house on the same street and is doing the same thing. Strange guy.</p>
 
@Janet





The show that had the flipper use his old carpet was Property Ladder. The home being flipped was in Pomona, and somehow at the end of the show they made money. Both flippers in that episode were mortgage brokers, wonder what they are doing now...





The best part of that episode was when their first general contractor got arrested and put in jail for 2 months. There were 2 warrants out for his arrest.
 
<p>That's right!</p>

<p>And the carpet was cut too-short and had to be patched - that was classic.</p>

<p>How do you overlook that as a buyer?</p>

<p>If it's the one I'm thinking of, it was the sod that sealed the deal.</p>
 
Update. Jeff bought the Valley Oak property for 1.5 million. So a tidy profit even after all commission's, etc. Probably around 325 K.
 
<p><em>Why do they agree to be filmed - especially when they are shown hiding serious damage?</em></p>

<p>Because they all list Acting as their first profession.</p>

<p>Thanks for the OCR link. Except for the 1993 property and his first condo loss, the other 33 were all done 1998 to 2006. </p>
 
It appears Bravo is putting the finishing touches on a second season of Flipping Out and I suspect some of you may find it interesting to see how this guy has been doing the past 6 months.



From what I could tell he has a new partner to help bankroll his projects.
 
The new season starts on June 17th. From what I've read online, he's hurting a bit - he's got several flips that haven't sold and, in order to get some income, he's been doing property renovations instead.
 
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