Flipping 101 With Tarek El Moussa - General Discussion

[CrazyInAlabama]

I don't think any kid of celebrities, especially the ones with huge social media presence, have privacy.   

The few who are very restrictive about showing their kids on TV, don't last long on the networks.   I think a long shot or occasional glimpse of the kids is one thing, but putting your kids in ads is over the line for me.    

I just hope this show comes back soon.    Clueless flippers are always entertaining to me, except where the super hot L.A. market gives some incompetents a huge profit.   However, that happens so much I guess I should be used to it.  

Edited July 16, 2022 by CrazyInAlabama

[Grrarrggh]

7 hours ago, CrazyInAlabama said:

I don't think any kid of celebrities, especially the ones with huge social media presence, have privacy.   

When it's facilitated by the tabloids I feel for them, but the ones who use their children, like too many on HGTV, sicken and anger me. 

Edited July 16, 2022 by Grrarrggh

[BrainyBlonde]

22 hours ago, Gam2 said:

I thought that Tarik had to bank his sperm because of his cancer treatment. He and Christina had to do IVF to get Braydon. Am I misremembering?

That's exactly what happened. My understanding is that there's a strong chance chemo will render a man sterile, so that's why oncologists suggest banking sperm ahead of the treatment. However, there's always a chance that there will still be viable sperm. Apparently, that's what happened with Tarek/Heather since she got pregnant ahead of the IVF implantation. She did have eggs collected a couple months back though and it's possible the hormone injections she'd been taking for that made her more fertile. 

[Grrarrggh]

Or the kid is going to look suspiciously like the mailman..... 

[CrazyInAlabama]

On the Vegas flippers, who gets a stop work order, works any way and gets caught, gets another stop work order, and announces on a national TV show they're going to work anyway?    Then they get caught working again?   

If they kept flipping after this, I'm guessing the permit people were watching them very closely.    

Edited January 18, 2023 by CrazyInAlabama

[chessiegal]

Considering the many months long lag between filming and airing, I'm sure things were taken care of by the show aired.

[CrazyInAlabama]

Season 3 starts Thursday May 4, at 7 pm Central, 8 pm Eastern, followed by the new season of Fix My Flip.   Incompetent flippers are always fun to watch, at least I enjoy them. 

I'm wondering if the falling market will mean everyone doesn't score a huge profit this season? 

(I'm not very nice I guess, because it really irritated me during the first two seasons that total incompetents, who made every mistake, and did bad work, made a profit. )

I love that Izzy is advertised as being on the first episode. 

Edited April 28, 2023 by CrazyInAlabama

[Katie W]

On 4/22/2023 at 6:08 PM, CrazyInAlabama said:

Season 3 starts Thursday May 4, at 7 pm Central, 8 pm Eastern, followed by the new season of Fix My Flip.   Incompetent flippers are always fun to watch, at least I enjoy them. 

I'm wondering if the falling market will mean everyone doesn't score a huge profit this season? 

Tarek mentioned many times last season to the flippers that if the market changes they would have lost money. He's barely making a profit on his own show. I can't imagine what this will mean to those that don't know the business well. 

[CrazyInAlabama]

Heather was in the episode with the desert flippers (green kitchen cabinets put super high on the wall), the Jun episode (they left the dishwasher out of the kitchen, had a tiny room called a fourth bedroom, only one bathroom, and that super tiny closet with no handle to open it), and the woman who was flipping the super expensive house with the fantastic view, and she kept going on vacation during the flip, and the finishes on tile, etc. were terrible.   

I'm hoping this season is another roster of incompetents, who aren't getting the huge profits because of the market.   Tarek does give great advice, and Heather does also, but the show is so much better without their personal stuff. 

"Three Buds and a Baby" What a bunch of whiney brats the three men are.   I liked the wife that's a designer, but I really dislike Bryan, who seems to have a hair trigger temper.   The thought of the two brothers having a fight over Easter dinner about counter tops in a previous flip is mind boggling to me too.    Erik and Mike (?) seem a lot more together than Bryan.  Tarek has some good suggestions to improve communication among the three men.   

Seeing Jeff the contractor is nice.   Jeff is right, Bryan doesn't delegate.   Bryan's main job should be supervising, bidding, and managing the information on the flips.   

I agree with the potential buyer about the front walk and the pebbles on the side, it doesn't appeal to me.   I'm over black  and white exterior palettes too, but really hate the super dark exterior wall colors that are so popular.  At least this house is mainly white exterior with black trim.  The interior roofline looks so much better with the drywall.   The navy cabinets on the island look very nice.  The main bedroom closet space is way too small.   The pool looks bad with the green water.  

I think pricing the house above the comps at $1.8 million is way overpriced.   I'm not surprised it didn't sell at $1.8.  I'm wondering if the trio will even make a profit on this house with the carrying costs, and pricing too high considering the comps. 

There are photos, and sold ad for the house. I noticed the pool looks lovely in the photos, and there is no staging. 

$1.415 million was the sale price, listing was $1.799 million.  So, sold for $384k below asking. 

Edited May 6, 2023 by CrazyInAlabama

[iMonrey]

On 5/4/2023 at 5:01 PM, CrazyInAlabama said:

"Three Buds and a Baby" What a bunch of whiney brats the three men are.   I liked the wife that's a designer, but I really dislike Bryan, who seems to have a hair trigger temper.   The thought of the two brothers having a fight over Easter dinner about counter tops in a previous flip is mind boggling to me too.    Erik and Mike (?) seem a lot more together than Bryan.  Tarek has some good suggestions to improve communication among the three men. 

The two that were brothers could not have looked less alike. Maybe they were only half siblings. Honestly I have never seen two siblings that looked less alike.

[Chris Knight]

4 hours ago, iMonrey said:

The two that were brothers could not have looked less alike. Maybe they were only half siblings. Honestly I have never seen two siblings that looked less alike.

Maybe they were adopted. I only saw the first 1/2 but what was with the 3 of them and the buttoned up choke collars ? 

[Vivigirl10]

I liked the episode.  I thought the house was really pretty and I actually thought that once they drywalled the slanting roofline, it made the fireplace area more cozy.  

Was the wife really a designer?  I thought she had just been helping with some ideas.  It made me laugh that her choices were absolutely no different then what "designer" Christina would have picked!

The one brother was way too high strung.  His voice was like nails on a chalkboard. 

[CrazyInAlabama]

Last week's flip flopped.   Purchased for  $1.275, break even $1.610 million, but it sold for $1.415 million, yes a huge loss.  They originally priced it for $1.799 mil.  However, loss was even worse, since I'm sure at least one flipper worked full time on it, and didn't have another job.  I'm not sure if the other two had other income?  

I guess this season's theme is "Incompetents turning potential profit into huge losses", I am enjoying this.  

Tonight's new episode "Married to the Flip" Season 3, episode 2.  Engaged couple, Jorge and Yesenia put all of the money they saved for the wedding into the flip, but as usual they way under estimated how much the rehab will cost.   Jorge has done several flips, had hard money loans, and lost every time.  (I'm already calling this a big flop).

$620k purchase, $80k rehab (way too little), think they'll sell for $800k. They want to pass the flipping business on to their two kids, their contractor is the best man.   They estimate 8 months to flip the house.  Tarek says they have to flip faster than that, and need to do 3 to 4 profitable flips to make a decent living.  1365 sq ft, 3 bed, 2 bath, in Montebello, CA.  Turns out to have galvanized plumbing, bet total rewire too. 

The overhead shot of the back yard still showed the giant pile of junk behind the garage, and nothing done to fix the ground by the garage.     

The flippers think they can go high end with the design and finishes, and sell for $900k or more.  Hector the contractor is slow, and because he's a long time friend, the flippers won't push him.  Now Hector is a partner with the $40k loan.   Jorge will do the haul away, and landscaping for $7k.  

Jorge's former flips were full of gray, and this time Tarek and Yesenia want to pick warmer shades.  So, Gray/Taupe or light taupe back splash, white shaker cabinets, marble look quartz counter tops, with waterfall edges on island.     I don't like that they're just patching the exterior, and painting over it.  Hector went on vacation, right before doing the interior.  Plus, Hector didn't tell the flippers he was leaving town, and it was a last minute vacation trip.

The flipper Jorge, screwed up, and it will be at least 6 more weeks to finish the flip. Hector says everything but the beam approval will be done in two weeks.   Another goof by Hector the contractor.   Still, after the beam, finishing is still two weeks away.  

The finished house looks so generic like every other flip. I loathe the wood slats on the fireplace.   Does it even meet the separation between fire box and surround required by code?  

None of the bedrooms have closet doors, and don't in the listing ad either.   Black tile on bathroom floor will show every piece of dust, and water  spots.  Primary bedroom is small, ensuite is small.  Stairs in back yard are old, and crooked, and lots of trash left behind the garage, and only bare dirt in a big part of the back yard. 

 I think $899k is way too high for the size and quality of the flip.  The back yard looks bad on at least half of it.  WHo leaves a lot of trash piled behind the garage?  

Initial break even is $790k.    They change the rehab to $120k, with Hector (contractor) financing the $40k with 10% interest.  New break even is $784k.   List price is $899,900, with projected profit of $115k.     Jorge and Yesenia need another contractor.    Offer was $850k, minus closing costs, carrying costs, money for Hector's investment, and credits I bet they'll have to do, not really profitable, at $65k profit, if that's even what they'll make. 

From the overhead picture, the house is next to a sports field parking lot, and still has junk behind the garage.   I bet with a better location the home would have cost more to purchase, and sold for a whole lot more. 

In the Redfin ad, it still doesn't have closet doors in any of the bedrooms.    The one thing I dislike about the staging is that they have a small, round four person dining table.  They should have used a much longer rectangle table to seat at least six.  It makes the dining space look ridiculous to use the smaller table. 

It's marked as sold on Redfin, 3 months ago, for $840,000.     So a profit of $56k.     If Hector received $40k for his loan to complete the job, then profit was $16k to the couple.   It was easy to spot on Redfin, the usual white exterior with black trim, totally generic and boring.   I was wondering about the neighboring homes too.   The house is right next to the parking lot for a baseball field, and there's some kind of water run off area down the block too. 

 

Edited May 14, 2023 by CrazyInAlabama

[CrazyInAlabama]

Tonight's new episode is "The Never-Ending Flip" Season 3 Episode 3. Two experienced flippers who keep getting delay after delay.  With the market going downhill, I'm sensing flop #3 for this season.  

 

In Long Beach, CA, Miguel and Drew are the partners, 3 Bed, 2 Bath, 1700 sq ft, bought for $1 million all cash. Their first flip was a flop, lost under $10k, second flip made a little but had to hold it during Covid. Hope to sell for $1.3 million or over. Rehab budget $150k. kitchen is small, wall heaters, not central. primary bedroom is decent size, but no ensuite.  Big back yard, big living room.  Break even is $1.2 million.

Lots of termite damage interior and exterior. Third bedroom is a loft with a totally open side.     The flippers claim the termite damage wasn't as bad as they thought.  It may be a big back yard, but there are two story houses very close around the property. 

 $220k is what they spent so far, so way over budget.  So with the $1 million purchase price they are now over $1.2 million break even.  They're over six months on the rehab.  Their bathroom tile is the same boring gray, black, white. Still waiting on inspections, and still don't have permits.  They want to do luxury vinyl plank, not hardwoods.  They want to use a brick back splash, and paint it white.  white quartz counter tops with veining.  They're 10 months into the project, and barely have permits, but have to do more structural work.  They don't even have drywall installed yet. When they get drywall in, now the roof is leaking on their new drywall.

There is an ensuite on the primary bedroom.   They think they'll finish in 4 to 6 weeks.  No surprised the exterior is white walls, black trim.  They had to tent for termites, and rats.  

15 months to finish the entire remodel.   Cost for remodel was $150k, it ended up at $283k.   Break even is $1.333 millon.       List price will be $1.599k, profit $267k projected.    Air conditioner is right outside the sliders. Loft was turned into a bedroom, but upstairs is still hot.    In escrow at $1, 525k, wonder if it sold?   I couldn't find it as for sale or sold on realtor, or Redfin, but I wonder if it's technically not in Long Beach?   The show has fudged locations before. 

Thanks to GeorgiaRai, it sold for $1.5 last September.  It's on Zillow.   So, profit is supposed to be $167k, split two ways, $83,500 each.   So, the market was still decent then, but the interest rates have gone up a lot since then.   

Edited May 19, 2023 by CrazyInAlabama

[iMonrey]

Quote

Tonight's new episode is "The Never-Ending Flip" Season 3 Episode 3. Two experienced flippers who keep getting delay after delay.  With the market going downhill, I'm sensing flop #3 for this season.  

I swear I've seen this one before. The flippers looked really familiar.

[borealis]

2 hours ago, iMonrey said:

I swear I've seen this one before. The flippers looked really familiar.

Me too!! It was driving me nuts! The flippers, the fake window, the laundry/bathroom combo! Also the blue patterned tile & the window near the street.

[CrazyInAlabama]

Maybe the flippers were on another show already?   Since the one flipper is Tarek's buddy, then maybe they filmed and showed a pilot while filming this  episode?   There have been a lot of one time only shows on HGTV. 

Were the flippers and Tarek shown at the same time, or were they mostly shown in separate frames?   It's very possible that the flippers were a failed pilot, and since Tarek knew the boxer, that they filmed the few joint scenes, and the beginning with the boxing, and then shot the ending.       

Edited May 19, 2023 by CrazyInAlabama

[GeorgiaRai]

This link was posted on Reddit. Looks like it sold last September for $1.5 million:

Zillow Long Beach CA

[iMonrey]

Quote

Maybe the flippers were on another show already?   Since the one flipper is Tarek's buddy, then maybe they filmed and showed a pilot while filming this  episode?   There have been a lot of one time only shows on HGTV. 

No, I'd swear I'd seen this episode. Because it opened with Tarek and his buddy sparring in a boxing ring and I immediately went "Oh this is a repeat."

[CrazyInAlabama]

Maybe this episode was a hold over from last season, but since it wasn't completed by the end of the season, it had no ending, so it didn't air, but they showed clips on the season trailer?    My 600 lb Life has done that before, where the season previews have people who didn't have their episode shown until the next season.  This flip went for 15 months, so I bet they started filming for a previous season, but I bet it was only 50% or less complete, so they couldn't show it. 

Mystery solved!     I looked on Reddit for the Flipping 101 threads, and if you look at r/flipping 101 season 3 episode 3, a poster says that several months ago, there was a sneak peek at Season 3, and it was at least part of this episode.   

Edited May 20, 2023 by CrazyInAlabama

[Scarlett45]

On 5/19/2023 at 6:03 PM, GeorgiaRai said:

This link was posted on Reddit. Looks like it sold last September for $1.5 million:

Zillow Long Beach CA

I really like that house. The black and white makes it easy for you to put your own personality on it. 

[CrazyInAlabama]

Remember the two women with the Trabuco Canyon house that the one the father was financing?  The house with the suspended driveway, the huge ditches right next to the house?   The one's father was financing it, and they couldn't agree on anything?   It's on Zillow for 1.125 million, and already a price reduction of $40k, after a failed contract. It's been on and off the market for a couple of years.   

So for $1.125 million, you get lots of stairs, and a seating area in a ditch under the driveway.    At least they covered up the wall supporting the ditch wall and the driveway.   The previous dining was only with 2 stools by the island, and now the stagers took over the living area to put in a small table, and now the rest of the living area is tiny.  I wonder how much run off is surging through the ditches next to the house foundations?   Also, that house had what looked like septic tank hatches down in the ditch, so that's another complication for the owners. 

I wonder if it's still the same flippers that are selling, or if it was resold?   Now they say it's a horse property, but that's some kind of community barn and riding arena.   

Edited August 24, 2023 by CrazyInAlabama

[LinkAiris]

On 5/18/2023 at 6:32 PM, CrazyInAlabama said:

Tonight's new episode is "The Never-Ending Flip" Season 3 Episode 3. Two experienced flippers who keep getting delay after delay.  With the market going downhill, I'm sensing flop #3 for this season.  

 

In Long Beach, CA, Miguel and Drew are the partners, 3 Bed, 2 Bath, 1700 sq ft, bought for $1 million all cash. Their first flip was a flop, lost under $10k, second flip made a little but had to hold it during Covid. Hope to sell for $1.3 million or over. Rehab budget $150k. kitchen is small, wall heaters, not central. primary bedroom is decent size, but no ensuite.  Big back yard, big living room.  Break even is $1.2 million.

Lots of termite damage interior and exterior. Third bedroom is a loft with a totally open side.     The flippers claim the termite damage wasn't as bad as they thought.  It may be a big back yard, but there are two story houses very close around the property. 

 $220k is what they spent so far, so way over budget.  So with the $1 million purchase price they are now over $1.2 million break even.  They're over six months on the rehab.  Their bathroom tile is the same boring gray, black, white. Still waiting on inspections, and still don't have permits.  They want to do luxury vinyl plank, not hardwoods.  They want to use a brick back splash, and paint it white.  white quartz counter tops with veining.  They're 10 months into the project, and barely have permits, but have to do more structural work.  They don't even have drywall installed yet. When they get drywall in, now the roof is leaking on their new drywall.

There is an ensuite on the primary bedroom.   They think they'll finish in 4 to 6 weeks.  No surprised the exterior is white walls, black trim.  They had to tent for termites, and rats.  

15 months to finish the entire remodel.   Cost for remodel was $150k, it ended up at $283k.   Break even is $1.333 millon.       List price will be $1.599k, profit $267k projected.    Air conditioner is right outside the sliders. Loft was turned into a bedroom, but upstairs is still hot.    In escrow at $1, 525k, wonder if it sold?   I couldn't find it as for sale or sold on realtor, or Redfin, but I wonder if it's technically not in Long Beach?   The show has fudged locations before. 

Thanks to GeorgiaRai, it sold for $1.5 last September.  It's on Zillow.   So, profit is supposed to be $167k, split two ways, $83,500 each.   So, the market was still decent then, but the interest rates have gone up a lot since then.   

Wow, what a rollercoaster of a flip! It sounds like Miguel and Drew really faced some challenges with this property, from unexpected termite damage to permit delays and budget overruns. It's impressive that they managed to turn it around and sell it, even if it wasn't for as much profit as they initially hoped. The real estate market can be so unpredictable, but it seems like they made the best of a tough situation. Hopefully, they'll take the lessons learned from this flip and apply them to their future projects.

[CrazyInAlabama]

S4.E01 A First Time for Everything, New, 4/2/2025

"Determined to learn the business from the ground up, a first-time flipper watches as problems start piling up before the demolition even begins."

Dan, another clueless fool, only has $100,000 to redo a total train wreck of a house.   Hard money loan for the purchase, so $5,000 a month in carrying costs.  

I enjoy clueless flippers who don't listen to Tarek, but I don't like that they all make profits because of the market in L.A.   Also, flipper quit his job, and now his only job is the flip, but he's not there when he says he'll be.     He spent a lot to put water heater and HVAC in the attic, but left the laundry in the garage.  I would have put the water heater in the garage too. 

He puts a tall back stove where it should have been flat, wrong finishes in the bathroom, laundry still in the garage, and sells for over $800K, and makes over $100K profit. 

[CrazyInAlabama]

S4.E02 "The Addition Decision" New 4/10/2025 

"A couple who were burned by overpaying on their latest property, a flipping couple is unsure if building an addition would be worth the extra expense." 

So the flippers from Vegas return.   They're the ones who had stop work orders, told Tarek on camera they were ignoring the permitting and stop work orders, and got caught.   I have to accept that all of Tarek's flip students will screw up over and over, and still make a big profit.  (Spoiler: Not this time!)

Marco and Jenny are still flipping, and still doing it wrong.  Buy a house for $830K that was listed for $775K (? about that), so they're already behind on money.    They haven't even started contacting realtors asking if they have any premarket flips, so Tarek makes them do cold calls to realtors about that so they save on price, and at the end they find another flip this way. 

Jenny wants to spend $50K on a main bedroom suite with bath addition, and blow the kitchen out.   Tarek tells them it will extend the project by months for permits, and will easily cost another $100K.   They finally decide not to do the addition.  However, they do the kitchen on both sides of the current kitchen, means that the tiny living room is now tinier, because it has to have a tiny 4 person table and chairs or the breakfast bar will be the only place to eat.     Also, Marco and Jenny can't decide on design, he wants elaborate, smaller more expensive tile to purchase and for labor, she wants more neutral, larger nice but still cheaper tiles.   She wins.  Marco as always, doesn't get permits, gutted the house, changes the floor plan, and since he likes modern electric fireplaces, rips out a working gas log fire place.  And picks the marble look tiles that are too busy and bold, none of the lines flow between the tiles, and I think it looks hideous.  Great way to waste a few thousand extra.   

Then, Marco redid the ensuite bath, big shower, big single sink vanity, but the only place to put the toilet is right in the door to the bedroom, and blocking the sink unless you have very skinny legs.   

Tarek says list for $999,900, to get interest many more buyers interested, and hopefully get a bidding war going.  They list for $1.050,000 and at the end of the show, no offers.       Jenny's idea for listing that high was they needed to sell for that, they wouldn't need to if they hadn't been fined for violating the permitting rules, as always.   And if they hadn't wasted thousands on over expanding the kitchen, and leaving the dining and living room much smaller than the kitchen.    And the fireplace fiasco.    

House was claimed to be in Mission Viejo, but I couldn't find it as listed or sold.    Marco also claims he's a flipping coach.   They also have You Tube channel promoting their flipping business, real estate investing, and other flipping subjects, so I guess they're just on Tarek's show as new flippers for publicity.  

Edited April 11 by CrazyInAlabama

[CrazyInAlabama]

S3.E12 "Small Budget, Big Problems"  New, 4/17/2025

"Two friends decide to buy a house together sight unseen and discover major foundation issues, and things become tense as they scramble to find additional funds. Now, Tarek steps in to assist and make sure their friendship survives this tricky first flip."

(I watch this on Spectrum On Demand, the titles for episodes are right, but not the numbers of episodes and seasons).

Joe & Jorge bought a house in Watts, with a squatter in residence.  Bought for $430,000 from a wholesaler, bought sight unseen, right in a flight path.  Both men are realtors, and went to flipping seminars.   They took 4 months to get rid of the squatter, and he trashed the place.  Budget is $50,000, totally inadequate since the plumbing was ripped out, walls damaged, floors rough.   They've owned the house for 5 months.   Floors are trashed and sloping. Lots of water damage from the squatter's vandalism.  They say local comps are $600,000 to $700,000.  House is tiny, no room for a second bathroom.   I can't believe they think they'll fix this place up for $50,000.   Break even is $630,000 and a small profit.   Then, Tarek says the market shift means house may only sell with a $30,000 profit. 

Contractor found huge piles of dirt under the house, causing more foundation issues, and costing more money.  After adjuster fee, the $30,000 from insurance is now $24,000, so only $44,000 left in budget for reno. 

Foundation, demo, costs $24,000.   Leaving only $20,000.  The flippers have $44,000 more credit, so total budget is $88,000.   

When they opened up the house, they found a huge amount of termite damage.   Contractor promises a week until finish and staging.  And the more conservative partner picks a different back splash tile.  Jorge and Joe are arguing constantly, mostly over contractor not delivering on deadlines.   Contractor still isn't working on the job, and they're over budget, and comps are still getting lower. 

House is almost finished. Kitchen layout is ridiculous, stove in shoved in the corner, you can' barely open the oven door, cabinets are different styles. I can't believe they're going to sell that house with that bizarre unusable kitchen layout.  Exterior paint is sloppy. Main bedroom is tiny. Potential buyers notice the wonky floor slope. 

Break even is now $616,000, but they want to list at $635,000.    Tarek says comps show it will sell for $575,000. 

Never sells even with two price drops, and a couple of months with no offers.   They pull it off the market, claim they're going to fix the floor slope, and the kitchen, then relist.   A big flop. 

Final sale price $580,000, so a big loss even before they fixed the floor slope, the kitchen layout, cementing the front yard, and some changes to the back yard.   

https://www.redfin.com/CA/Los-Angeles/9540-Defiance-Ave-90002/home/7301315

https://www.zillow.com/homedetails/9540-Defiance-Ave-Los-Angeles-CA-90002/20956670_zpid/

Redfin says current value is $626,000, Zillow claims $580,000, plus carrying costs, extra work they paid for, so either way a big loss.   

Edited April 18 by CrazyInAlabama

[b4pjoe]

Forgot to record this show and when I checked about a week ago this show is not on MAX or Discovery+ like most Discovery shows are.

[CrazyInAlabama]

29 minutes ago, b4pjoe said:

Forgot to record this show and when I checked about a week ago this show is not on MAX or Discovery+ like most Discovery shows are.

I watch it on my Spectrum app On Demand, but it's not posted until Friday morning, same with Last Chance Kitchen on You Tube.   Some shows weren't being posted until the season was over, but I don't know if that's how it's done currently.    

I watch Top Chef as it's airing, so I have to watch this on the On Demand version. 

Edited April 17 by CrazyInAlabama

[CrazyInAlabama]

S3.E11 "Overlapping Mortgages"  (This claims to be new and season 2, they're actually on season 3)

New, 4/24/2025

"A flipping couple bought a fire-damaged house next door to their own home, and now they've made an offer on a new, larger place for their family. Tarek looks to help them over some high hurdles to get their bank account through this flip in one piece."

Claudia and Edwin bought a hoarder house next door to their house.  If they succeed they will not only raise the value of the house, they will increase the value of their house. Purchase price $400,000, 3 bed 1 1/2 bath, rehab $95,000  break even $529,000 List for $629,000. House was only 1,000 sq ft even with the addition.  House had a fire and was abandoned for a couple of years. Burned garage or ADU, and they think of moving and listing both homes at the same time.  Houses are also next to the freeway. 

House looks so much bigger without the trash inside and out.  Tarek says don't build an ADU, it's not enough return on value to make it worth it.  He also tells the flippers to run comps for recent sales with and without a garage, to see if building another garage will profit them. 

Flipper Edwin didn't get permits, so he lied about it.  City shut the project down.  Edwin also lied about the addition where the fire started isn't permitted.   City may ask them to demo the addition, which is the square footage that was making this profitable.  Tarek points out the since wife is in charge of design, that Edwin should butt out.  After three months, the plans and permits are approved. Addition had to be demo'd.  FLippers want to rebuild the addition to code, for $25,000.   Edwin still doesn't know the numbers on construction and finished work. 

Addition is done, for $ . Edwin thinks they'll finish in 21 days, as always, he's delusional.  They think reno is $121,000. Edwin is still trying to change design choices, and wasting time which equals money.  They're in escrow for the next house for $1 million in Whittier.  Edwin just spent $20,000 on a carport.  Tarek tells them to put one on the market, and then when that is under contract to put their current house on the market.  They're on month nine, and don't have a kitchen yet.  

House took 10 months to complete, when flippers said 4 months originally. 

Purchase $400,000, rehab $126,000 plus carrying costs $578,000 break even.   List $715,000 (their house next door is under contract for $690,000, and isn't as big or nice). 

$751,000 under contract $173,000 profit

 

 

Edited April 26 by CrazyInAlabama

[Mollywolly555]

What is with these men who don't get permits?

Is it macho arrogance thinking they can get by the system,  or just stupidity? 

Obviously, Edwin needs lessons in/or a contractor or bookeeper to organize the reno, plan, apply for permits,  track time, $, get comps,  etc  

His beautiful wife seems like she had learned not to buck the quiet volcano that is Edwin as he blunders ahead, so she won't get blamed.

I am very glad Tarek addressed their (Edwin's) dire need for communication. 

Nope to the freeway location for me. Always afraid a vehucke will end up in my living room. 

What is with these men who don't get permits?

Is it macho arrogance thinking they can get by the system,  or just stupidity? 

Obviously, Edwin needs lessons in/or a contractor or bookeeper to organize the reno, plan, apply for permits,  track time, $, get comps,  etc  

His beautiful wife seems like she had learned not to buck the quiet volcano that is Edwin as he blunders ahead, so she won't get blamed.

I am very glad Tarek addressed their (Edwin's) dire need for communication. 

Nope to the freeway location for me. Always afraid a vehucke will end up in my living room. 

What is with these men who don't get permits?

Is it macho arrogance thinking they can get by the system,  or just stupidity? 

Obviously, Edwin needs lessons in/or a contractor or bookeeper to organize the reno, plan, apply for permits,  track time, $, get comps,  etc  

His beautiful wife seems like she had learned not to buck the quiet volcano that is Edwin as he blunders ahead, so she won't get blamed.

I am very glad Tarek addressed their (Edwin's) dire need for communication. 

Nope to the freeway location for me. Always afraid a vehucke will end up in my living room. 

What is with these men who don't get permits?

Is it macho arrogance thinking they can get by the system,  or just stupidity? 

Obviously, Edwin needs lessons in/or a contractor or bookeeper to organize the reno, plan, apply for permits,  track time, $, get comps,  etc  

His beautiful wife seems like she had learned not to buck the quiet volcano that is Edwin as he blunders ahead, so she won't get blamed.

I am very glad Tarek addressed their (Edwin's) dire need for communication. 

Nope to the freeway location for me. Always afraid a vehucke will end up in my living room. 

What is with these men who don't get permits?

Is it macho arrogance thinking they can get by the system,  or just stupidity? 

Obviously, Edwin needs lessons in/or a contractor or bookeeper to organize the reno, plan, apply for permits,  track time, $, get comps,  etc  

His beautiful wife seems like she had learned not to buck the quiet volcano that is Edwin as he blunders ahead, so she won't get blamed.

I am very glad Tarek addressed their (Edwin's) dire need for communication. 

Nope to the freeway location for me. Always afraid a vehicle will end up in my living room. 

[Mollywolly555]

What is with these men who don't get permits?

Is it macho arrogance thinking they can get by the system,  or just stupidity? 

Obviously, Edwin needs lessons in/or a contractor or bookeeper to organize the reno, plan, apply for permits,  track time, $, get comps,  etc  

His beautiful wife seems like she had learned not to buck the quiet volcano that is Edwin as he blunders ahead, so she won't get blamed.

I am very glad Tarek addressed their (Edwin's) dire need for communication. 

Nope to the freeway location for me. Always afraid a vehicle will end up in my living room. 

Sorry abt repeat post. 

[CrazyInAlabama]

S3.E3 "Piecemealing a Budget" New, 5/1/2025

A real estate agent and his wife have purchased a midcentury ranch house, but their budget for the flip is more of a total guess. As expensive mistakes pile up, Tarek steps in with a plan to help get this flip across the finish line with a profit.

Flippers are Kevin and Cory, flipping a house in Anaheim, designed by Cliff May.  He's been in real estate 18 years ago, this is their sixth flip, she's a full time school psychologist.  They barely made a profit on the first five flips. 

Purchase price $ 725,000, rehab $75,000  , break even $ , want to sell for $915,000. Rehab will be a ton more, pool is trashed, house was estimated for rehab by Kevin.   1328 sq ft

They want to see if the current ugly ceiling has the exposed beams and wood ceilings.  They didn't estimate restoring the original features. Remove the brick kitchen wall to make a seating peninsula.   So, restore nothing, but modernize.  Kevin underestimates everything. Main bath is water damaged.  Back slider is trashed, pool is a total redo,  Back yard really isn't that bad, just the pool.  $745,000 is the real purchase price, rehab will be a ton more than $75,000.   Breakeven is $865,800, sale at $925,000.  Tarek says 7 months to rehab and $125,000 rehab, so they may not make anything, as usual. 

Kevin is talking about wholesaling the property to someone else, but he will have to sell for $750,000 and that won't happen.  Kevin is not realistic. COntractor says $90,000 rehab, but they have to put in central air too. 

They ripped out the ceiling drywall, and the ceiling isn't special, it's just plywood.    Tarek suggest nailing a wood panel over it.   Cory wants to put an island, kitchen is too tight.    Tarek says flat panel cabinets but flippers want to cheap out on white shaker.   Then, they want concrete floors.  Do a terrazo look porcelain, and it will be cheaper and look authentic. Or concrete look procelain. 

THen, they took the back yard trees out, so now back yard isn't private, and a big mistake. 

Tarek has Jeff come in to give an estimate for rehab, and it's a ton more than Kevin estimated.   I wouldn't even think of hiring Kevin as a realtor after seeing this. Kevin had the contractor spray the ceiling insulation white, and it's looks terrible.   Tarek talks options, put drywall between the beams, and add can lights.  As usual, the flippers pick the bad option.  Kevin wants to cheap out, and not put the air conditioning in. They cheaped out on white shaker cabinets, which will be hideous. 

Finished ceiling is awful. They actually went with more expensive flat panel cabinets.  Kevin wants a cheap tile back splash in the kitchen, Cory wants a slab running up the wall. FOr the bathrooms Tarek says a porcelain terazzo look. 

Back yard is still a wreck and they have to do the pool rehab, and add back the trees they had chopped down.  On a couple of their other flips they lost $50,000 on one house, the other one is not going to sell for a profit, or worse. 

As always, Kevin is cheaping out on the pool rehab, and underestimating the cost.  The replacement trees will be tiny, because they don't have the budget to fix their screw up.  Bathroom vanity is tiny, and toilet should have been moved over.  I can see why they lose money on flips, guest bath looks like it's for little kids. 

Floors are very slick and slippery, and they epoxied it. Kitchen doesn't look mid-century, but looks generic modern flipper. 

Kevin still doesn't want to put air conditioning in.  Anaheim is hot, and he wants to cheap out again.  He finally puts in air conditioning. 

FInished house looks cheap, and sloppy. 

Purchase $675,000, $112,000 rehab, break even $907,000. If it sells for $915,000 they'll make $7500. 

Back yard landscaping is terrible, traffic noise is awful. 

List $949,000.   Sold for $922,900, $15,000 profit (I doubt that they didn't have to give concessions). 

 

(They're showing the episodes out of order) 

Edited May 2 by CrazyInAlabama

[CrazyInAlabama]

 

"This Flipping Relationship" New, 5/8/2025

"Joe wants to embark on projects with Darlene, but she does not respect his opinions. Apart from spending lavishly, she also goes ahead and buys a new house without consulting him first."

Joe and Darlene have been dating for six years,

Paid $770k for a house in Orange, CA, estimate rehab at $100k, want to list for $1,050 million.    House is 1400 sq ft, 3 bed 2 bath on a corner lot.  Joe says Darlene over designs and blows the budget.  Darlene wants to put a wine bar in where the breakfast nook is.  Joe says she'll want to put in custom cabinets, marble countertops, higher end appliances.  Joe and Darlene aren't partners they're opponents who agree on nothing.  Pool is horrible. She wants to spend $25 to $30k to fix the pool, and Joe wants to spend $15k to fill the pool in. 

Purchase $770k $100k rehab, break even $913k, hoping to sell for $1.050 million.  Tarek says $120k to $130k rehab budget., and if Darlene uses more high end finishes, the house could cost $150k or more rehab. 

Joe says they just started demo, and says Darlene is already overspending. Darlene wants to do a sitting area on the front lawn, fortunately gets overruled.  They can't even compromise on back splash or counter tops. Joe and Darlene get engaged.  Tarek tells them the kitchen choices are good, but to be bolder on the bathrooms. 

Izzy came to give an estimate on the pool and yard, Joe says $25,000, Izzy, who knows what he's talking, about says $35k if Joe and Darlene do some of the landscaping themselves.  They're $22k over budget.  So rehab $122k.  Pool was $37,000, plus landscaping extra. Darlene wants to turn the garden storage shed into a Tiki bar, or pool house, for $5,000 according to Tarek. 

Darlene is adding more and more to the house, and more and more to the budget.  So Joe takes over the bathroom planning.   Darlene also changed the counter tops, and moved the fridge position. Every time they save money, Darlene makes up for it with her changes.  Rehab is now $130,000, then Darlene says $135,000, then says $145,000.  Tarek says $150,000 is his rehab guess. Joe says they're really at $145,000, and he's taking over the Tiki Bar shed project.  Pool house/Tiki Bar is closer to $6,000.

Purchase price $770,000 final rehab total $153,000, break even $986,000. Since they started inventory is a lot bigger, and interest rates doubled, dooming the flip to make nothing. Their problems are Darlene is over spending, and they never communicate.   I see no point in the front wood accent, or the expensive patterend tile on the porch.  Back yard and pool look lovely. They should have put an outdoor shower, and powder bath instead of the Tiki Bar.  They didn't do a main ensuite primary shower door. 

List price $988,000 with profit of $2,000. Tarek says $999,999 ($14,000 profit with a full price sale

Sale price $1.120 million Profit $34,000 (I wonder if the sale went through at that price, and if they really made a profit?  I found both of the flippers delusional.   Neither one changed at all. )

Edited Friday at 04:29 PM by CrazyInAlabama