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Fix My Flip - General Discussion

KeithJ

By KeithJ
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KeithJ

KeithJ

Page Turner and her team help Southern California's overwhelmed flippers by taking over their flip, and betting on her expertise by putting her own money down to help them get them back on track to make top dollar.

I watched the first episode of this and just couldn’t get into it.  Maybe because I had zero sympathy for the mother and daughter flippers.  I like the shows where someone comes in to help someone with their own house but helping flippers really doesn’t appeal to me.

CrazyInAlabama

CrazyInAlabama

(edited)

I love Page, agree with her changes to the Lake Arrowhead house on the first episode.   However, I couldn't stand the clueless mother, daughter flippers.    The flippers just wanted someone to come in and tell them how wonderful their ideas are, and their ideas sucked.     Getting rid of the kitchenette downstairs was bizarre.    Putting the kitchenette back would have cost $1500, and given a rental income, and increased the sale price by at least $15,000, so not wanting to do that is a big mistake.     I like Page, but the flippers on episode 1 made me want them to fail. 

(Page was one of the exes on Flip or Flop Nashville, in case anyone missed it.    )

Edited by CrazyInAlabama
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CrazyInAlabama

CrazyInAlabama

Last night's Tujunga (I hope I got that right) flip was incredible, because of the purchase price of $650k, and what it finally sold for.   I know the L.A. market is full of cash offers, multiple offers over asking, and selling for so much extra payment.    I think Page asking neighbors with attached garages if they had direct access into the house was smart,    I'm glad they closed the door to the garage through the bedroom.    I bet that investor last night was a relative, because I can't believe someone would keep working with the flippers after two losing flips in a booming market like L.A. 

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CrazyInAlabama

CrazyInAlabama

(edited)

I am still astounded by the prices, $1.4 million for a 3 bed 2 bath in Koreatown, in L.A.?    And the home office is now in half of the garage, and not even finished completely.      I did like seeing the Talavera tile, but was disgusted at the flippers trashing historic tile that was probably worth $30k.       

Koreatown is where that awful hoarder house was finally cleaned up in November.    I wonder how close that house was to it? 

Unfortunately, I think no matter what Page recommends for design, tile or other finishes, the flippers have already purchased a lot of the materials, and will do what they want to.   I suspect her 'design choices' are actually the one the flippers ordered, and decoys. 

Edited by CrazyInAlabama
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CrazyInAlabama

CrazyInAlabama

(edited)

I think they do all white walls, because if a buyer wants another color, it will be easy to paint over it.    

The Eagle Rock, CA flippers from tonight are so clueless.  $1.3 million for less than 1,000 sq. ft. is ridiculous.    Then, the flippers want to add 1,000 sq. ft. for $375k, plus carrying costs of $4,000 a month,  and will only get $1.4 million.   Page pitches they only put $100k more into the house, and then finish it, dropping the ADU add on, and it will sell for the same price $1.3 million.    The flippers are making the worst move, remodeling to their own taste, and not trying to finish quickly, and sell.   I can't believe the lovely original features the flippers ripped out.   I'm glad Page is wearing substantial looking sneakers this week.  The wife in the couple is another realtor who thinks she can renovate too.   They've been working on the flip for seven months.  

The comp realtor is stunning, they have a 3 bed 1 tiny bath, was on the market for $999,000, and is under contract for $1.4 million.    The realtor attributes that to the fact that the house has all of the vintage details the flippers Page is working with ripped out.   However, the redesign at Page's house has one of my most hated features, in the guest bath, the toilet is directly facing the mirror.  Also, the door to the guest bath is directly off of living room/dining space.     Now, the flippers want to add the ADU back, for over $300k in reno costs, and months more work and permitting time.    So, Page says this cancels her contract, and help.   The flippers will lose their shirts.      So, she went to another flip by the Tujunga brothers, and this is a much better deal, and they're going to keep it for a rental property.   Page tells them to sell, not rent, because it will take forever to break even. 

I can't believe that on the second house,  that Page and the realtor are ignoring the retaining wall falling over in the back yard, holding up the hillside needs to be replaced.   And no one considers that the day they have torrential rain the hillside will turn into a waterfall. 

 Six months later, the first house isn't even started for the ADU and addition.     They're 14 months in, paying closing costs, and will be lucky to break even if they ever finish.   

Edited by CrazyInAlabama
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mojito

mojito

13 hours ago, CrazyInAlabama said:

 Six months later, the first house isn't even started for the ADU and addition.     They're 14 months in, paying closing costs, and will be lucky to break even if they ever finish.   

As Page said, this is a cautionary tale, and a worthwhile one to televise. I think it's good for people to see the pitfalls of getting caught up in an idea that clashes with reality. I'm glad that the Marrs showed us the same thing in "Fixer to Fabulous" when they decided to create a Bed and Breakfast of a large 3-bedroom, 3-bath home. Once they thought about it, they couldn't see a feasible way to operate it.

It's so hard to believe that this couple, given the simple arithmetic of how much they'd invest for how much they'd profit, were still passionate about going through with their plan to add 1000 square feet to a 990 square-foot home in a 1000-square foot home neighborhood. For a 1990 square foot home, they sell the place for an estimated $1.4M versus selling the 990 square-foot home for $1.3M and they'd save themselves $275K in the process. Plus $4000 per month in carrying costs for who knows how many more months. Plus not having to wait for permits. Plus not having to build the addition (which means more time).  

After 7 months, $150K in reno cost plus the $28K carrying cost, this couple decides to go ahead with the addition (Accessory Dwelling Unit). WTF? To me it seems they should really trick out that back yard (they had a larger lot than the neighbors) and possibly sell the home for more than $1.3M in the end. I wonder what has become of the couple and this home. I guess they had a hunch that they could make a lot more on the ADU addition than Page projected. 

Nice contrast with the brothers considering the wisdom of renting a small unit for only $100 more per month than their mortgage, and there were still taxes and maintenance to consider. They opted to sell the home, pocket the additional $350K and look for a better rental property. Thanks, HGTV for going educational on us.

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CrazyInAlabama

CrazyInAlabama

(edited)

Tonight's horror show, the couple (Cheryl and Edgar) bought a three bungalow compound in Pasadena, over a year ago, spent a lot of money, and are drowning.    #1 is 3 bedroom, 2 bath with a laundry room (but the caption on the screen lists this one as a 2 bed 2 bath),   #2 is 1 bed 1 bath, just over 600 sq ft, #3 is 2 bed, 1 bath about the same size.   The couple had their Feng Shui master do the plans, so the 'front door' is in the kitchen.   All three houses are down to bare studs, and apparently they have been doing the work in their spare time.   So, the husband works night shift, sometimes 12 hours, and then comes to the house.   So, he works 20 hours a day between his job, and the house.    

It was bought for $785k and with a hard money loan.   They have a budget of $150k, and spent $60k, and have no budget plan, schedules, or anything else.   The hard money loan interest is $1,000 a month, plus taxes, insurance, etc.    Page's plan is to finish the main house with her team, and sell it for $1.4 million.  Page proposes 25% of the profits to finish, market and sell the main house, the couple proposes 12 1/2%.   The couple have done no work, except gutting the three bungalows, been puttering along for a year, and they're whining about how much professionals will cost to finish and sell the property?    They settle for 18% of the profits for Page.    

Why does Page show up to a construction site with spike heels, and fancy clothes?    

I agree with Page's idea to finish the main house the 3 bed, 2 bath, and let the new owners do what they want with the smaller bungalows.    I see no logic, or profit with putting in two tiny guest houses on the property.   I doubt the sellers would get enough more in the sales price if they completed the reno on the two smaller houses.  As a buyer, I wouldn't want two rental units with shared driveways on the same property.  Also, the two smaller units look like sheds, so I wonder if they were built well or are just cobbled together?    

They're now 8 months past when Page showed up, and still nothing is happening, because the couple demands to keep their current general contractor, G.C. is never seen or heard from, and Page can't get him on the phone either.   The general contractor doesn't show up, does nothing, and something is truly bizarre about the couple, and the contractor.   I'm wondering if the contractor is a relative, or family friend?   

Page even offered to buy the flip as is several times, and the flippers say no.    I bet the Pasadena house will never finish.   Page and her contractor go back and look at the Pasadena flip, no progress.   Eight months after Page showed up to look at the place, and to finish the flip, it's still the same way, because the couple refuse to allow anyone but the vanished contractor to work on it.   The couple do try to put up a fence themselves, because they're afraid the contractor will show up and finish it, and charge them for it, but that never gets finished either.  

The couple are as bad as the ones from last week with the unfinished project because they wanted to do the expensive ADU addition, and would get no return on it.   

So, Page moves on to Simi Valley, where Page bought a failed flip from Kelly.   So, she will finish this one, and sell for a $200k profit.  I really like seeing a successful flip, using smart finishes, and keeping the potential buyers in mind.  Kelly's mistake was she was designing for her dream kitchen, and dream house, not for the potential buyers.  She also wanted full custom kitchen cabinets, which would have taken forever to arrive, and cost way too much.    Page finishes in less than 30 days.  As the real estate expert on The Deed Chicago said, for regular remodels you want finishes that will be in style for years, on a flip you want trendy, and the latest fads, and flip as quickly as possible.   Page bought it from Kelly, for $700k, put $50k into it, and sells for $950k, so Kelly makes some for finding, and starting, and Page buys and finishes in less than a month.   Then, Page makes her final trip to the Pasadena failed compound flip, and nothing is happening.  

I really enjoy this one, because they may have a flipper that makes money, but they have the others like the ADU couple, and the Pasadema compound people, who never finish, and even if they ever do, will lose money.   It's absurd to lose money in a market like L.A., but they still manage.    I really liked that Kelly the realtor in Simi Valley realized she couldn't finish, sold to Page for a decent amount, and then Page finished and sold. 

I guess this is the season finale, because next week Windy City comes back.   I'd rather watch this one.  

Edited by CrazyInAlabama
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photo7521

photo7521

I like this show and how it plays into Page's quirks. On Flip or Flop Nashville, Page would always show Derron (her ex and Business Partner) the initial property in fancy shoes and would then come in to work on construction day in sensible shoes. There seemed to be a running joke that Derron knew that she would not be helping with the construction/destruction work.by the type of shoes she wore.

I think a show like this is necessary by showing how delusional some flippers can be. Many of these people are looking for a big payday. Instead of doing their homework, they get these large-money-loans (and the $$$ that goes with them), then try to do it all with family and friends as the contractors. No one has any expertise or even practical knowledge, so it starts and stays a wreck. Unlike, other flipping shows, where we see the success later, this one is showing what happens when the process fails (which probably happens more than we think). Bravo to HGTV and Page for giving us a reality check.

Hope they do more shows like this.

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CrazyInAlabama

CrazyInAlabama

(edited)
On 4/16/2022 at 9:38 PM, mojito said:

Did anyone else suspect that Cheryl and Edgar were reluctant to fire their contractor because they are related to him/her but wouldn't admit it?

I agree.   I bet the hard money lender was a relative too, maybe a parent or grandparent of the general contractor who was never seen.   My guess is the contractor wasn't licensed either.    He never wanted to be on the show, talk to Page, and that seems like someone who' up to no good.  

It was ridiculous that the two smaller units were 90% complete, really only needed cabinets, flooring, trim, light fixtures, and they could be ready.     I wonder if Edgar even finished the fence?    If they wanted to do their own fence, find someone, and get it done.   I don't know how long ago this was filmed, but I suspect the bungalow property looks exactly the same today.   

 

I think one reason the flippers are so nervous on the show is they haven't been on camera before, and they're telling the viewers about their mistakes.     Who knows how many times they shoot the same scene too.   

Edited by CrazyInAlabama
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Kbo

Kbo

I can’t help but wonder how much of this show is scripted.  A lot of it feels like bad acting to me, I honestly don’t trust that we’re seeing anything resembling reality. I watched this season, but I don’t think I’ll come back for more if they do another season. I much preferred Property Ladder that used to be on another channel before HGTV started doing all the flipping shows. 

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mojito

mojito

On 4/17/2022 at 1:42 PM, Kbo said:

I much preferred Property Ladder that used to be on another channel before HGTV started doing all the flipping shows. 

This show, unlike Property Ladder, which showed people doing stupid things but almost always making a profit in the end, shows how some people fail and lose money. On Property Ladder, you knew if they really sold at a profit, someone was getting a shoddy home. I suspect more people fail or barely break even than make a lot of money when they flip properties. I like that this show points that out.

 

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CrazyInAlabama

CrazyInAlabama

(edited)

I am really enjoying the marathon on HGTV today.    The Pasadena 3 cottage flippers, and the Eagle Rock couple who are going to lose money by doing an unnecessary addition, are hysterically deluded.    Both couples are running the flips horribly, and will lose money, or in both cases probably never finish.   How anyone can ignore the sensible financial and remodeling advise from Page is mind boggling.   

Edited by CrazyInAlabama
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Phaedre Harvey

Phaedre Harvey

I'm wondering did the couples in last 2 episodes lose their properties They were so full of pride and would't listen to Page. I think that the couple

in Pasadena were doing business with a relative who wasn't a certified contractor I think both of those couples are going to lose those properties they are so stupid but that's what happens when you think that you know everything

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sskrill

sskrill

I really like Page but these are some of the dumbest people I've ever seen. 

Edgar and Cheryl seem legitimately mentally deficient. They were more focused on wearing matching shirts than getting the job done.  Maybe I'm a terrible person, but I'm not capable of feeling empathy for people who just can't admit when they're wrong.  Such great opportunities for learning and building a nest egg, and their low IQ's prevent either from happening.

This goes for the Eagle Rock couple too.  

The really baffling part is it doesn't seem to even be arrogance on their part, just a lack of critical thinking skills.

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CrazyInAlabama

CrazyInAlabama

(edited)

I like that some of the flippers are unteachable, and don't even listen like the Eagle Rock couple, and the Pasadena Bungalow compound couple, but some were capable of learning.    The realtor who started a flip, decided she didn't want to continue, and sold to Page was a different type of flip.     For me some are like the Flipping 101 people, Tarek may help them on one flip, but you know if the market turns they'll lose money.  

I'm so mean, I love the flippers that never will finish.   It shows a more realistic flipping scenario than the every flips make a fortune shows. 

Edited by CrazyInAlabama
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CrazyInAlabama

CrazyInAlabama

(edited)

I'd like to know about the Pasadena three bungalow one too.   I bet that one is in similar condition to the Eagle Rock property, it will never be finished.  

Eagle Rock-I suspect they didn't want an ADU, but mom and dad or whoever was financing it, would live upstairs, and the couple would be in the ADU with their future kids.    I don't think they ever had any intention of selling that property.  

Edited by CrazyInAlabama
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CrazyInAlabama

CrazyInAlabama

On 9/13/2022 at 12:52 PM, ksutton625 said:

Some people on Reddit tracked it down: 

Eagle house

someone mentioned they live near the house and that there a ton of stop work signs posted by the city. Unfortunately it’s probably a tear down now. 

So, they turned a house that needed some work, and would sell for $1.3 or $1.4 million, with the existing main floor, into a house they're now trying to sell for $800k?    Big failure. 

The new season of Fix My Flip premieres Thursday 4 May 8 pm Central, 9 pm Eastern.    Right after the new season of Flipping 101, so Thursday will be delusional flipper night for a while.    I'm wondering how the rise in interest rates, and downturn in the market will hurt flippers? 

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CrazyInAlabama

CrazyInAlabama

(edited)

I saw the rerun of the Eagle house, with the failed project, and ADU addition, they actually have the drawings of what the finished ADU would look like.   The original purchase price was $710k, plus the $150k they already put into demo and renos, plus carrying costs that they mentioned on the show.   The couple are losing a ton of money at the list price.    I'm guessing the $799k list is to get a bidding war, and they won't be getting that in today's market. 

The sadest part to me, is the house in the original shape needed work, but was vintage with everything original.  The failed flippers demolition, and plans took everything original out of the house.

The description for the first and second episode of the new season sound very entertaining.   

Thursday's new episode "A Beachside Rescue"  Season 2, episode 1, Huntington Beach, CA. Houses retail for $1,000 a sq ft after renovation.  House bought for $865K, had it for a month, reno budget $50k, (Page wants to spend $70k)and want to sell for $1.1 million.   Flippers are Allison (daughter) and Juan, this is their second flip, and both quit their regular jobs, and only made $50k on the previous flip.   Father is contractor, and over spends on the house.  Daughter wants to cheap out everything.  The flippers can't agree on anything, flooring, paint, or anything else. I agree with Paige, to get the price the fippers want, they need to use better finishes, so it looks like an expensive beach home, not like a cheap reno with no style. Daughter doesn't even want to replace the awful shower tile and shower doors in the ensuite.  Daughter doesn't want to replace the hideous old windows either. 

 I like a split bedroom floorplan, and this home has one.   However, I agree with Page, the idea of keeping the wall between dining and living room is ridiculous.   I agree with Page that the flipper daughter is cheaping out, and will ruin the flip.  Daughter wants to leave the tile, and paint it, leave the main bath framed, old shower doors.   Page is right, the duo will never finish for a big payoff, with bad design, poor kitchen layout.  I can't believe the flippers only made $50k on their first flip, and quit their jobs to flip incompetently full time.   

Turns out the wall wasn't original anyway.  The flipper daughter is pissed at Page for taking down the wall, putting the kitchen layout in a better design.   Daughter is actually in tears about the redesign, and that anyone would change her designs, or make changes to appeal to a higher budget buyer.   Allison claims she likes Page's changes, but I don't think she's genuine about that.   After Page rips out the bathroom tiles, daughter wants to cheap out again, hates the stove back splash tile.   Page is right, buyers in this area want a custom look, not looking like a cheap apartment reno. Daughter bought the island in gray, last year's color palette for renos.   Daughter also hates everything Page is picking out, daughter may say she likes it, but doesn't really.   

I wish the island was turned 90 degrees so you could get 3 or 4 bar stools, instead of parallel to the sink. 

I love Page's tile and other selections, and the stagers did a great job.   Realtor says to list for $1.2 million.  They actually sold for $1.1 million.   My guess is the downturn in the market has arrived.   I know California prices are ridiculous, combined with the proximity to the beach, you end up with a home for $1.1 million that is so small and ordinary, and next to the busy road behind the house, and small too.    

I hope the flippers enjoy their profit, because I bet they will go right back to their old, cheap flip methods, and will never make a decent profit again. 

 

 

Edited by CrazyInAlabama
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CrazyInAlabama

CrazyInAlabama

(edited)

May 11th new episode, "Big League Flip", Season 2, Episode 2.   Toluca Lake CA, average home price $1.4 million, home, lo2489 sq ft, 3 bed 3.5 bath, built in 1948.  Outside of the house is awful. MIchael is the flipper. This is his biggest flip yet, and his most expensive, and he has partners.   He hopes for  Bought for $1.2 million, $300k reno budget, so break even is $1.5 million. He wants $2 million sale price.  Page says $1.8 mil is a more realistic sale price.   He's already demoed a bunch of rooms, especially the awful kitchen.  First floor main bedroom, and ensuite.  (toilet has a reading light over it). half bath on first floor.  Second floor stairs are narrow.  2 beds and 1 bath upstairs.   Page says to ad a 4th bedroom for maximum resale value.  MIchael wants to wall-in the garage breezeway, and add an ADU, but permits will cost a lot, and be a long time delay getting permitting. ADU will cost at least $100k.  He pitches Page work only for a fee, he wants her to invest $25k, and make $37,500 total.     Then, Page offers to partner for $60k flat fee, and they agree to $50k flat fee.  Michael is a designer, and realtor. 

Page says no to the ADU, not enough return on investment, and too costly in time.   Page will do all design and execution.      She also wants to do a huge banquette, and I hate banquettes.  She wants to add another bedroom on the first floor, with a guest bath.   Adding the 4th bedroom and bath adds $70 k to the budget, but will pay dividends on the sale price.    There will be a hallway for accessing the main bedroom, new guest bath and 4th bedroom, and front door will move. 

Michael cancels the 4th bedroom, it would delay the project for many months.   So money can be spent on other features.   

I don't like the slat wall by the bottom of the stair case, I think a wrought iron would be better.   Floor was supposed to be white oak, but it's a mixture of white oak and walnut.    It will cost $20k to replace the floors.   Replacement floors look spectacular, and really White Oak this time. Staging is lovely.    Kitchen is really nice.  The only thing I don't like is the wooden slat stair wall.   I wonder how it will sell with only 3 bedrooms?  

Realtor says to list for $1.850 million.   Michael accepted an all cash offer for $2 million, and buyer bought almost all of the staging.   So, I guess the house being three bedrooms didn't limit the sale at all. 

 

 

Edited by CrazyInAlabama
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CrazyInAlabama

CrazyInAlabama

(edited)

Tonights new epsidoe "An Unsellable Dilemma", Season 2, Episode 6  Flipping parners buy a house ona a dead-end alley, next to a pig farm.    If anyone isn't aware, being within a mile of a pig farm is unlivable when the wind is blowing in your direction.   

Whittier, CA.  Next to a pig pen, down an alley turned street.  House isn't easy to find. Flippers Ken and Reggie, been flipping for a couple of years.   $565k purchase, reno budget $75k, project sale price $750k.  They own more than one property, and aren't even sure about square feet, or anything else. Washer was in the kitchen, dryer in the garage, and Reggie intends to keep washer/dryer in the same locations.   They've done 25 to 30 flips together, this house is an awful location, and the market is headed down.   primary bedroom has an ensuite that's a horrible layout, with two other bedrooms.  There's a work shed with electricity, and air conditioning.   The flippers bought without being in every part of the property.   The back screened patio is awful.  

Page wants to add $25k to the reno budget.   Page will do the reno for $20k flat fee.  The flippers won't even get rid of the mountain of trash in the front yard.  The flippers for a black white tile shower in the ensuite is hideous.  However, I'm not a fan of Page's kitchen back splash tile, a light pink subway.   I also don't like the storage/work/office building with the pink wall paper.  The junky back screened covered patio is gone, but the flippers didn't do anything to fix or cover the strange looking concrete slab.  The white exterior, light gray trim is nice, but I don't like the pink everywhere. 

Listed for $730k, sold for $730k.  Even for the L.A. area, that's a huge price for a house on a former alley, right next to a pig farm, and a house that isn't in the nicest looking street.  

$70k profit for the flippers.   

When I lived in New Mexico, a friend lived out in the boonies.  A huge commercial pig farm was built half a mile from his home.   The few days a year when the wind blew towards his home, he would pack up the dogs, and take his huge trailer to a campground, and only came back after the spring wind storms stopped.  The smell was nauseating.   That's how bad a pig farm is.   

Edited by CrazyInAlabama
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mojito

mojito

On 5/18/2023 at 5:34 PM, CrazyInAlabama said:

Listed for $730k, sold for $730k.  Even for the L.A. area, that's a huge price for a house on a former alley, right next to a pig farm, and a house that isn't in the nicest looking street.  

I can't imagine being so desperate for a place to live, and being so tied to a region, that you'd pay that kind of money, which could buy you a very nice home most places in the US, and have to deal with the stench of pigs.

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CrazyInAlabama

CrazyInAlabama

(edited)

Season 2, Episode 7, "Overcoming Outdated"

In Tustin, Orange County.   On a busy street 3 bed 2 bath 1532 sq ft., double doors lead to a big breezeway, and the front door.   Mike and Joe are the flippers, inside is moving along, but outside sucks.    House cost $930, rehab budget $90k to $100k, overbudget.  ,  The flippers don't have a clue.  There's a sun room. secondary bedrooms are small.   primary isn't big, bathroom is big, with a decent closet.   Backyard and pool have potential. Page tells them the gray is not on trend any longer, and you want up-to-date for a flip.   The carrying costs are over $4k a month. 

Page says the house is 10 years out of date, and they need more rehab money, and staging.   Redo the backyard, change the kitchen and bath plans.   Page says they need $25k from her, and $25k from the fiippers.  They agree on $25k each, and 30% for Page.

They take out the gray floors, to donate.   Remove the crown molding, saying on lower ceilings it makes a room look smaller. 

They wanted $1.3 million for the finished house. Market shifted, so I don't think they'll come close to $1.3 m. 

Now the one flipper mentions that they're just getting the septic tank inspected, and there are probably issues.  Why doing this now?  They've had the house for several months, and are just now getting the septic inspected.  There is sewer at the street, and even though it's expensive to connect, I would have done that on week 1.  I wouldn't buy this house with a septic tank.  The flippers bought without inspections. 

I'm not liking what the flippers are now criticizing about the design.   If the flippers know what they want, then why did they call Page and want to partner with her?   I like that Page is putting artificial turf in the backyard.

The flippers used the unwanted crown molding on the top horizontal surface of the fireplace mantle, and it looks ridiculous.  Septic is still not working, or any progress on the septic issue.   House is finished, but not the septic issue.  The city will allow replacing the failing tank, and will cost about $20k, but hooking up to the city sewer would cost $60k.  They rebuilt the cylinder pit, so the cost was $20k, not $60k.   Primary is small, closet isn't big, but bathroom is huge.  Realtor says to list for $1.250 mil.   $930k purchase  $170k rehab ncluding the septic repair. 

Sells for $1.210 million. $33k to Page, and flippers split $77k

They're rerunning a few fun (for me fun.  Yes, I'm mean) episodes this afternoon.    The Eagle Rock one where the couple want to sell for $1.4, by adding that ridiculous ADU for $300k and more, and they could sell for $1.3 or $1.4 million by finishing the existing home.    They ended up putting the unfinished house on the market for $799k (I think), and bought for $710k, plus the huge monthly carrying costs, and permitting, and architects fees.  This house was a big loss.   

Season 2, Episode 4 "Taking the Flipping Reins",  (yes, they're showing episodes way out of order). Woodland Hills, CA. Dessy, is the flipper.   Average sales $1.2 million.    outside looks great.   Inside is virtually gutted.   Dessy is a realtor, with several partners.   House bought for $1.460, $4700 carrying costs a month, been going on for four months, prospective sales $2.3.   Reno budget is $500k, but partners are arguing over everything.   

Half bath in the main living room wall.   kitchen is gutted, but scaffolding supporting kitchen looks shaky.    House work space is a mess, and dangerous.   There's a step down to bedrooms.   3 bedrooms are all on one side of the house.  Two share one small bath.   Primary is huge, has a big ensuite space, but concrete works looks like it's deteriorating.      I would push the half bath doorway over into the first bedroom, so it opens in the hall way, instead of next to the couch.  I would turn the office into another bedroom, and enlarge the guest bath.  

The house is a total mess, with loose insulation blowing everywhere.   They shouldn't be in the house without decent respirators.    Page wants flat fee of $100k, and Dessy talks to her partners, Page agrees to 20% of profits instead of a flat fee.  

Page gives Dessy a week to do electrical, and clean up the job site.  Page wants to move the door on the half bath, and turn it into a full shower bath, and fix the current guest bath. The current step down from the kitchen is strange, but can't be changed without massive work and expense.   Instead, Page will raise the floors to elimiate the kitchen, and living step down.   Back yard is a disaster, and the pool is nothing but a hole in the ground with some rebar.    When Page and Mitch go back, nothing has changed.    Since Dessy's crew doesn't do anything, Page wants them replaced.    Two weeks later, no progress, and no new contractors, and Dessy doesn't want to change contractors. 

 Dessy wants to wait until summer to finish and put house on the market next year. She thinks the market will rebound.   Page walks out.    Another failed Eagle Rock, and Pasadena bungalow bungle.   

So, Page moves on to Ken and Reggie, Whittier, CA,  (the pig farm guys).   They finished the house, next to the pig farm, on a former dead end alley.   They want to buy the house next door, a neighbor is selling after starting reno.  The men want to partner with Page, with an investment.    This house is worse, across the chain link fence is the pig farm.   This one looks very similar to the previous house, but the sunroom is solid.   The previous owner gutted everything, and bought for $515k, reno $50k, partnership 1/3 each , Page counters at 50% for her, and 50% for the men, and each put up half of purchase price, and reno.   The previous owner gutted, did new electrical and plumbing, and most drywall is up.   LVP floors throughout, yellow tile backsplash, accent wall turquoise behind living room fireplace.    

I'm not a fan of the bright colors, and yellow patterned back splash and front door.   I also hate wallpaper in bathrooms.   She's putting up a privacy fence on the hog farm side.   That won't stop the noise, and the stench, or the flies.  The contractor pulled his guys, but they only have a few days to finish. 

 Pantry is open shelves, no doors, they could have put a regular room door to close it off.   Wallpaper for hall bath is peel-and-stick.   Staging is nice.   House looks great, but wait till they're downwind of the pigs, and there are wandering cats, and a rooster next door.    

Fireplace paint still has gaps.   I'm hoping that's because they had to film, not because they didn't finish. everything.  Realtor doesn't like the peel-and-stick wall paper, and I love her for that. Realtor says to price at $735k.    Purchase $515k, full price offer of $735k accepted.   Dessy never returned to working on her house.  

 

Edited by CrazyInAlabama
  • Like 1
CrazyInAlabama

CrazyInAlabama

(edited)

8 June new, Season 2, Episode 3, "My Way or the Highway" Buena Park, CA, average home prices $825k, Sam and Jose are friends, and partners who bought sight unseen.   Exterior of house looks like Hansel and Gretel cottage.    House was probate sale, $625k purchase price, full renovation should cost $50k, that won't do it.   This is the first flip for Sam and Jose together, and they don't have a design plan.   House doesn't have HVAC, and they don't want to pay for that, but want to sell for over $800k,  4 bed, primary suite is bizarre, and with a tiny closet, en suite is tiny.   Enormous great room.  Back wall of yard is freeway.    There is a huge sound limiting/retaining wall behind the yard, by the freeway.   

There is no way $50k will remodel this house.  New reno budget $80k. I agree with Page the trim color on the exterior is awful. 

It sold for $850k according to Page, redfin says $865k, in January 2023.    (At least it looks like the same house, with that horrible wall in back. ) They put some fake ivy halfway up the back wall, it still looks like a retaining wall for the freeway.   I would have just painted it, and saved a lot of money. 

 

15 June new, Season 2, Episode 8 (yes, they're showing them out of order) "Flipping is a Full-Time Hustle" Marianne and Kurt flipping a million doaar home in Mission Viejo.  They are only flipping on the side, not full-time.    $1,165 million purchase price, carrying costs are  $7600 a month, budget is $100k, hope to sell for $1.4 million.    The flippers argue a lot, about everything.   So the laundry room is in the garage, terrible idea. Page is putting in $25k more for the staging and rehab budget.    

The flippers found out why you don't pay for an entire job up front, with bad framing. 

Then, Marianne tells Page that she can't pay the workers until she sells another house in the neighborhood.   Other house was bought for $1.1 million also.   I hope this was just a storyline about running out of money until the second house sells, if not it's a bad way to run a partnership. $1 million purchase, for sale $1.265 hasn't sold yet, she was aiming for $1.4, but already dropped the price. $8k a month carrying costs, and on the market for 4 months.   Interior is underwhelming to me, needs staging.   Only one living area.  The house looks like an empty white box.  Page is right, light fixtures, and other finishes are cheap, and it needs outside work in the back yard too.   I hate open shelving in kitchens, but  they put  a lot of it in the house.   The new light fixtures are such an improvement.    I'm tired of peel-and-stick wallpaper, but at least it's easy to remove if a buyer doesn't like it.  The staging really improved the house, and the better finishes and design really helped.   

My opinion, the flippers did OK when the market was really hot, but now that it cooled down, their screw ups will doom their business.   Over buying materials, cheaping out on finishes but thinking they'll get a huge return, not staging homes, and over pricing is how they've managed before this, but with the turn down in the market, they'll fail. 

The second house sells, and the first house with Page being involved will sell, but I bet they haven't changed anything about how they do flips, and will get greedy and start losing money. 

The second house sells, but with a profit of $25,000, and that gets rid of the $8k a month carrying costs, and now they can finish the first flip. 

 

Edited by CrazyInAlabama
  • Like 4
Shermie

Shermie

I really enjoy this show because it shows that flipping is not the big cash grab that some other flipping shows seemed to imply. Sure, it might have been for some flippers who do a lot of work themselves or who lucked out with the market.

But there are many who enter flipping all starry-eyed: “We can watch YouTube videos and do all the work ourselves”, “I have a great eye for design so I can turn this eyesore into a beauty and double the price”. Such naive thinking. 

Page is a realist and it pains me when people whose flips are failing actually argue with her good ideas when they’re the ones who signed up the show and her expertise. 

  • Like 8
Andyourlittledog2

Andyourlittledog2

On 5/27/2023 at 11:18 AM, CrazyInAlabama said:

Season 2, Episode 4 "Taking the Flipping Reins",

I want whatever drugs Page was taking when she decided on the (permanent) color scheme for the house in Whittier next to the pig farm.  If I was willing to pay for a house next to pigs (never) I would not appreciate having the so much of the decorating colors already chosen for me in the way of tile etc. And that wallpaper in the bathroom was vile.

Usually I like her choices but this house was just one no after another for me. Still, it sold for a ridiculous amount.

Dessy was a very unserious person in a business that needs sense.  And 2.4 million for that house in Woodland Hills hurts my heart. Regular people are being completely priced out of the market in the LA area. Watching these flippers make money on these very modest average homes this way I find upsetting from a resident's point of view.  Things are just so completely out of whack. It's really depressing.

  • Like 3
CrazyInAlabama

CrazyInAlabama

(edited)

New, "Condemned House Nightmare" Season 2, Episode 5 (they show them out of order, there have been 8 episodes so far, and I guess that's the entire season).   The flippers bought a condemned  house.  Diamond Bar, CA, average sale price $880,000.   2021 sq ft, 3 bed, 2.5 bath built in 1969.   It looks unsafe to go into it.  This would have made a good teardown project.     Elmer and Jackie are the flippers.  

They bought for $720,000, rehab $160k, hope to sell for $1.1 million.    Previous owner had 80 cats, I would tear it down.  I know I said that already, but this house is disgusting.   Sadly, the first look inside the house, and Page is wearing really lovely clothes.      House is gutted, the floors have been bleached, and it still smells like ammonia.   Bleach and ammonia don't cancel each other out.   They want to make a fourth bedroom.   The flippers have no plan for design or remodel. The concrete patios have a lot of big cracks, so I'm wondering about the stability of the soil and foundation.

Jackie is the finance partner, Elmer is the construction guy.   They've been dating for a long time.   He has a cancer and will be having a bone marrow transplant soon.    How is Elmer safe in this disgusting house?   I'm sending my best wishes for a complete recovery for Elmer.   

Page is covering overage if they go over $160k, and gets 25% of the profits.   

Elmer is doing very well after his bone marrow transplant. 

Now, after a lot of rain, the retaining wall collapsed.  SInce it will be over $160k rehab budget, the cost will be on Page. Cost for the wall was $5,000.  I thought it would cost a lot more than that. 

I don't like the huge pivoting door for the front.   I think it may look spectacular, but I question how safe it is for use?  

The finished house is spectacular.  With four bedrooms, I'm sure the listing price will go up. I think buyers will love a first floor bedroom for guests. I love the terrazo flooring.  Realtor says house is too modern, and the only fully remodeled house on the street, and may have too many pops of color for a lot of buyers.        Then Elmer walks into the house.   Elmer is now cancer free. 

Page invited a Dodger, James Loney, and a Will Smith signed jersey, and a signed baseball, and Elmer is thrilled. 

Realtor says to list for $1.25 million.  Page is ripping up the contract and isn't taking any profits from the house. So, Page gave up $92,500 in profit, and I love her for that.    

House sold for $1.250k a full price offer, and Elmer and Jackie made $370k profit. 

 

 

Edited by CrazyInAlabama
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mojito

mojito

Diamond Bar, CA

So nice to watch an episode with no construction-, contractor-, or Page-client drama. I even liked the negotiation: yeah, you get 25% but pay any construction overage.  

@CrazyInAlabama, I agree with you about the door. Doesn't look like something you can easily slam in someone's face if you needed to, and I didn't think it added anything to the design. Maybe it was cheaper. 

Yeah, Will Smith-signed jersey is nice (I'm not a Dodger fan, so I know nothing of him). I was hoping for tickets to a game behind home plate or even as a guest in someone's suite. I'm such an ingrate.

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CrazyInAlabama

CrazyInAlabama

(edited)

My understanding is that Page pays the investment, if there is one, and gets the agreed amount of profits, or a flat fee.   The others on her crew are part of her team, or theproducton company, and are paid according to their contracts.   The amount Page gets doesn't effect the crew members' salaries. 

I'm sure that the Dodger organization, or one of their fans with access to boxes and tickets will do something for Elmer and Jackie.   I can only imagine the good publicity that the Dodgers would get for hosting someone like Elmer. 

Edited by CrazyInAlabama
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LinkAiris

LinkAiris

On 4/14/2022 at 9:20 PM, CrazyInAlabama said:

Tonight's horror show, the couple (Cheryl and Edgar) bought a three bungalow compound in Pasadena, over a year ago, spent a lot of money, and are drowning.    #1 is 3 bedroom, 2 bath with a laundry room (but the caption on the screen lists this one as a 2 bed 2 bath),   #2 is 1 bed 1 bath, just over 600 sq ft, #3 is 2 bed, 1 bath about the same size.   The couple had their Feng Shui master do the plans, so the 'front door' is in the kitchen.   All three houses are down to bare studs, and apparently they have been doing the work in their spare time.   So, the husband works night shift, sometimes 12 hours, and then comes to the house.   So, he works 20 hours a day between his job, and the house.    

It was bought for $785k and with a hard money loan.   They have a budget of $150k, and spent $60k, and have no budget plan, schedules, or anything else.   The hard money loan interest is $1,000 a month, plus taxes, insurance, etc.    Page's plan is to finish the main house with her team, and sell it for $1.4 million.  Page proposes 25% of the profits to finish, market and sell the main house, the couple proposes 12 1/2%.   The couple have done no work, except gutting the three bungalows, been puttering along for a year, and they're whining about how much professionals will cost to finish and sell the property?    They settle for 18% of the profits for Page.    

Why does Page show up to a construction site with spike heels, and fancy clothes?    

I agree with Page's idea to finish the main house the 3 bed, 2 bath, and let the new owners do what they want with the smaller bungalows.    I see no logic, or profit with putting in two tiny guest houses on the property.   I doubt the sellers would get enough more in the sales price if they completed the reno on the two smaller houses.  As a buyer, I wouldn't want two rental units with shared driveways on the same property.  Also, the two smaller units look like sheds, so I wonder if they were built well or are just cobbled together?    

They're now 8 months past when Page showed up, and still nothing is happening, because the couple demands to keep their current general contractor, G.C. is never seen or heard from, and Page can't get him on the phone either.   The general contractor doesn't show up, does nothing, and something is truly bizarre about the couple, and the contractor.   I'm wondering if the contractor is a relative, or family friend?   

Page even offered to buy the flip as is several times, and the flippers say no.    I bet the Pasadena house will never finish.   Page and her contractor go back and look at the Pasadena flip, no progress.   Eight months after Page showed up to look at the place, and to finish the flip, it's still the same way, because the couple refuse to allow anyone but the vanished contractor to work on it.   The couple do try to put up a fence themselves, because they're afraid the contractor will show up and finish it, and charge them for it, but that never gets finished either.  

The couple are as bad as the ones from last week with the unfinished project because they wanted to do the expensive ADU addition, and would get no return on it.   

So, Page moves on to Simi Valley, where Page bought a failed flip from Kelly.   So, she will finish this one, and sell for a $200k profit.  I really like seeing a successful flip, using smart finishes, and keeping the potential buyers in mind.  Kelly's mistake was she was designing for her dream kitchen, and dream house, not for the potential buyers.  She also wanted full custom kitchen cabinets, which would have taken forever to arrive, and cost way too much.    Page finishes in less than 30 days.  As the real estate expert on The Deed Chicago said, for regular remodels you want finishes that will be in style for years, on a flip you want trendy, and the latest fads, and flip as quickly as possible.   Page bought it from Kelly, for $700k, put $50k into it, and sells for $950k, so Kelly makes some for finding, and starting, and Page buys and finishes in less than a month.   Then, Page makes her final trip to the Pasadena failed compound flip, and nothing is happening.  

I really enjoy this one, because they may have a flipper that makes money, but they have the others like the ADU couple, and the Pasadema compound people, who never finish, and even if they ever do, will lose money.   It's absurd to lose money in a market like L.A., but they still manage.    I really liked that Kelly the realtor in Simi Valley realized she couldn't finish, sold to Page for a decent amount, and then Page finished and sold. 

I guess this is the season finale, because next week Windy City comes back.   I'd rather watch this one.  

Wow, what a detailed and dramatic episode! Cheryl and Edgar’s situation with their Pasadena property truly is a horror show. It sounds like they’re in way over their heads with the three-bungalow compound. It’s shocking that they’ve managed to gut all three houses down to the studs but haven’t made any significant progress in over a year.

The Feng Shui master’s design choice of placing the front door in the kitchen certainly adds to the unconventional nature of their project. And Edgar working 20-hour days between his night shift job and the renovation work is just unsustainable. It’s no wonder they’re drowning.

Buying the property for $785k with a hard money loan, having a $150k budget but spending $60k with no plan or schedule in place is a recipe for disaster. The $1,000 monthly interest on the hard money loan, plus taxes and insurance, must be financially crippling. It makes sense why they’re so desperate and stressed.

Page’s proposal to finish the main house and sell it for $1.4 million seems like their best bet. Her initial ask for 25% of the profits to manage and sell the property seems reasonable, given the couple’s lack of progress. Settling at 18% is a compromise, but at least it’s something.

Page showing up in spike heels and fancy clothes is a bit puzzling, though. It’s not exactly practical for a construction site, but maybe it’s just her style or a TV show quirk.

I agree with you that focusing on finishing the main house is the most logical approach. The smaller bungalows, especially if they look like sheds, might not add enough value to justify the additional investment. Most buyers wouldn’t want the hassle of shared driveways and potential rental units on their property.

The issue with the general contractor is particularly baffling. If he’s a family friend or relative, that might explain the couple’s insistence on keeping him despite his absence. But it’s clearly hindering any progress. It’s a shame they haven’t taken Page’s offer to buy the flip as-is, especially since they’re making no headway.

Page’s success with the Simi Valley flip is a stark contrast to the Pasadena fiasco. She clearly knows how to turn a project around quickly and efficiently, which is what Cheryl and Edgar desperately need. Kelly’s mistake of designing for her dream house instead of potential buyers is a common pitfall. Page’s ability to finish in less than 30 days with smart, trendy finishes shows her expertise.

It’s definitely entertaining to see the stark differences between successful flippers and those who get stuck, like Cheryl and Edgar or the couple from last week with the ADU addition. It’s hard to believe anyone could lose money in the L.A. market, but it goes to show how crucial proper planning and execution are.

I’m looking forward to Windy City next week, but this season of The Deed has been quite the ride!

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