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David T. Cole

Flip Or Flop

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Izzy's company does a lot of high end remodels, and I suspect he doesn't do the smaller houses any more.      Also, from what I've read, the filming really screws up the scheduling for the actual flip, and takes a lot of time doing the same scenes and discussions over and over.  I bet Jeff the contractor is paid as a part of the show, and I'm sure the advertising of his company is very valuable too. 

When T & C started their construction and design business, I think most of the contractors wore shirts with the T & C logo, but after that Jeff usually wears another company shirt.   

 

Edited by CrazyInAlabama
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15 minutes ago, CrazyInAlabama said:

Izzy's company does a lot of high end remodels, and I suspect he doesn't do the smaller houses any more.      Also, from what I've read, the filming really screws up the scheduling for the actual flip, and takes a lot of time doing the same scenes and discussions over and over.  I bet Jeff the contractor is paid as a part of the show, and I'm sure the advertising of his company is very valuable too. 

 

Isn't Jeff employed by T&C?  I thought he was part of their regular crew who now handle virtually everything from finding the houses to selling them.

I think Izzy has said that he had to limit his appearances on the show because his construction business, which I believe he owns with his brother(s), was so busy and because he was tied up for days and days with filming for the show which didn't pay as well as his real job.

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This is the first season I'm watching Christina and Tarek together. I watched his 'Master Class' series which he did solo towards the end of 2020, and enjoyed it for the most part. He hosting with his ex-wife is horrible, at best. She offers nothing but her shiny veneers and such insight as 'Ohmygod!', 'Ohwow!', 'Yuck', and of course, 'Ilovethistile'. I have a feeling she is there solely to attract the straight male viewers, as Tarek is there mainly for the gay male viewers and the women. 

Other things I've noticed about the show which doesn't make too much sense:

Since they remodel every single home with the exact same tiles for bathrooms and backsplashes, wouldn't it make most sense if they went directly to the manufacturer and buy in bulk, in which they could then store it and use as each project comes up? It would be more cost effective then what they are doing now (going through retailers with big showrooms, which they are paying for by the prices they charge to people like these two).  Same with the marble countertops, the interior paint, and the exterior paint. Just buy it all in bulk and they'd save a fortune*.

Every home they buy has 'surprises' in store - leaky roofs, leaky walls, cracked foundations, faulty wiring, illegal construction, etc. Do these homes not get inspected before they buy them? In my state (RI) both the  buyer needs to have a complete home inspection done before purchasing a home. The price is then negotiated depending on who agrees to take care of the problems - the seller or buyer. A home inspection will always prevent the 'surprises' which arise, so the buyer knows how much money will be needed to fix the problems before they invest. 

Aside from the insepction, the seller also signs a 'disclosure statement' acknowledging the condition of the home, and any problems which did not show up in the inspection (for example, a rodent problem every winter).  And in the case where there are surprises within the first year or so, the buyer can sue the seller for not revealing the problems in the disclosure. Oftentimes, the realtor for the seller is included in the lawsuit.

These two make it look like they're going to the toy store and buying a doll house to fix up. It's very misleading.

 

*Actually, HGTV the supplies for free as promo items, no doubt.

 

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I suspect that when Tarek buys at auction, or from his "We buy anything" company, that they only do the walk through by one of their contractors, and I'm sure they still buy some sight unseen.   Also, they buy a lot for cash, so no bank requirements for the normal inspections.    I'm sure since they have 5 or more flips going at once, that they do have a warehouse, and buy in bulk.   I'm sure the individual trips to get tile, or the consultations on style and cabinets has been done long before.   I'm sure with most of their flips they buy in quantity, and I bet only the most expensive houses (like this week's house with Pete de Best partnering, that sold for over $2 million) have anything unique or more expensive.  

I bet the termite infestations are also not a surprise either, and they just show it as a discovery, when they planned it all along.  

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On 1/9/2021 at 8:03 PM, LetsStartTalking said:

 

Since they remodel every single home with the exact same tiles for bathrooms and backsplashes, wouldn't it make most sense if they went directly to the manufacturer and buy in bulk, in which they could then store it and use as each project comes up? It would be more cost effective then what they are doing now (going through retailers with big showrooms, which they are paying for by the prices they charge to people like these two).  Same with the marble countertops, the interior paint, and the exterior paint. Just buy it all in bulk and they'd save a fortune*.

Every home they buy has 'surprises' in store - leaky roofs, leaky walls, cracked foundations, faulty wiring, illegal construction, etc. Do these homes not get inspected before they buy them? In my state (RI) both the  buyer needs to have a complete home inspection done before purchasing a home. The price is then negotiated depending on who agrees to take care of the problems - the seller or buyer. A home inspection will always prevent the 'surprises' which arise, so the buyer knows how much money will be needed to fix the problems before they invest. 

Aside from the insepction, the seller also signs a 'disclosure statement' acknowledging the condition of the home, and any problems which did not show up in the inspection (for example, a rodent problem every winter).  And in the case where there are surprises within the first year or so, the buyer can sue the seller for not revealing the problems in the disclosure. Oftentimes, the realtor for the seller is included in the lawsuit.

These two make it look like they're going to the toy store and buying a doll house to fix up. It's very misleading.

 

*Actually, HGTV the supplies for free as promo items, no doubt.

 

Actually, most of us who watch the show are pretty sure those 'shopping' trips are staged for the show.  Their business owns a large warehouse in California where they store stuff that they buy in bulk which is why we keep seeing the same kitchen cabinets, backsplashes and bathroom tiles.  They'd lose the obligatory scene in every show where Christina, pretending to be a 'designer', pulls out an assortment of stuff while Tarek complains about the cost.

California doesn't have point of sale inspection required and, in areas where housing is in short supply. like Orange County, where Tarek and Christina usually do their flips, sellers don't need to fix up their house to sell it. Because the supply is so short, a lot of these houses are purchased 'as is', especially by the flippers who don't want to get into a bidding war.  They make sure they have a big enough margin in their investment to take care of the stuff that comes up.

Edited by doodlebug
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I bet you're right.    With the part of Tarek's company that buys any house for cash (at a bargain price of course), my guess is there are no inspections, since the houses are 'as is'.      I seem to recall some mention of a warehouse before, so I bet they shop clearance, and huge lots of the same generic tiles, cabinets, and sinks, etc. , or go to wholesalers.    

Edited by CrazyInAlabama
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17 hours ago, doodlebug said:

Actually, most of us who watch the show are pretty sure those 'shopping' trips are staged for the show.  Their business owns a large warehouse in California where they store stuff that they buy in bulk which is why we keep seeing the same kitchen cabinets, backsplashes and bathroom tiles.  They'd lose the obligatory scene in every show where Christina, pretending to be a 'designer', pulls out an assortment of stuff while Tarek complains about the cost.

California doesn't have point of sale inspection required and, in areas where housing is in short supply. like Orange County, where Tarek and Christina usually do their flips, sellers don't need to fix up their house to sell it. Because the supply is so short, a lot of these houses are purchased 'as is', especially by the flippers who don't want to get into a bidding war.  They make sure they have a big enough margin in their investment to take care of the stuff that comes up.

Thank you for this !  This all makes sense now. I figured they had warehoused their supplies somewhere and was hoping they were smart enough to buy in bulk.

I also notice there is never any mention of appliances. They're never out choosing appliances, or talking about the amenities offered with each one. I guess those are not part of the budget.

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I'm guessing since they do over a hundred flips a year, that part of the warehouse is appliances they buy at wholesale prices, by the semi load. 

Tonight's new episode, "Flew the Coop" must be one of the 'we buy anything' houses Tarek buys.    The house was really nice, but it amazes me that the only bath on the first floor is shared, and that's where the primary/master (I call them owner's suite) bedroom is, and it doesn't have an en suite, and it's on the market for $888,000, and sold after five days for $910,000.        I liked the different tiles and things they used, but I hate open shelving, and the kitchen had a lot of it.      

Edited by CrazyInAlabama

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On 1/11/2021 at 5:40 PM, LetsStartTalking said:

Thank you for this !  This all makes sense now. I figured they had warehoused their supplies somewhere and was hoping they were smart enough to buy in bulk.

I also notice there is never any mention of appliances. They're never out choosing appliances, or talking about the amenities offered with each one. I guess those are not part of the budget.

I think they buy appliances in bulk, too, and store them in the warehouse.  It seems like just about every flip they do has the same generic stainless steel fridge and dishwasher and the stoves look similar too,  Except in their high end flips, where they need a restaurant-style fridge and stove to fit the space; I think every house gets the same stuff.

Now, if a sponsor would come aboard that just happened to make or sell appliances; I think we'd see shopping excursions to purchase those items, too.  I have a feeling that the tile store we often see them shopping at probably pays a fee to be on the show and maybe gives T&C discounts for their bulk purchases in exchange for the plug.

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Actually they don't even have a fridge installed half the time, it's usually just an empty space for one. They do have stoves though and you're right, if there was a sponsor for it they'd probably be out appliance shopping every week and extolling the virtues of (insert name brand here). 

I for one would not like my yard to be adjacent to a public park, but maybe if you have little kids you would.

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I'm always amazed at the price of these houses, when they buy them, and what they sell them for.     That house last night that went for $910,000 was nicely done, but that amount of money was way too much.    I watched this one again, and the deal breaker for me would have been the park next door, because it was full of playground equipment.   Screaming kids are not my favorite neighbors.   

Where I used to live it was a new subdivision, and my builder didn't include the fridge.   There are so many different models now, and extras, that many people prefer to get their own, and have a small credit off the house price.     Another near by subdivision included a fridge, but you had no choice, and a lot of buyers weren't happy with the model they ended up with.   

My current house is my final house, and it came with a side-by-side, with ice maker, and water in the door.   I hate side-by-sides, and don't use the water / ice feature, and I knew exactly what kind I wanted to get, so I found my current one a good home, and bought what I really wanted.      

Edited by CrazyInAlabama
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Whether a refrigerator is included or not depends on the real estate market. In Maryland, the seller has to leave a refrigerator. When I lived in Georgia, a refrigerator was not included. When I left Georgia to move back to Maryland, I took my refrigerator with me to put in the basement as a second refrigerator. When we sold that house, we decided to leave the basement fridge as it was 17 years old. The first thing we bought when we moved into our current home was buy a second fridge and put it in the attached garage,

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I always thought it was a weird real estate practice in new/old homes not to include the refrigerator. It seems like such an odd thing to not include. You have the stove & dishwasher but a huge gaping hole (box) in the kitchen. I know it’s been done forever but I still think it’s odd. Also, another fireplace with no mantle. I think Tarek & Christina are doing this on purpose to annoy me. That said, it did look sleek with the stone/slate used. 

Edited by ByaNose
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Every region uses their own standard contracts for sales. Those contracts show what conveys, that is, stays in the house, with the sale. If you want something to convey that is not standard for the region, you have to have it written in the sales contract. Dishwashers and stoves are considered to be built in, and therefore usually convey. Refrigerators are easily taken out, that's why in some areas they don't convey and in other areas they do. Our last move was to a different county in the same state. The state part of the sales paperwork was the same for both houses, however the county parts of the sale contracts were a little different. The state contract has the refrigerator conveys unless otherwise agreed to by both the seller and the buyer.

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On 1/9/2021 at 8:03 PM, LetsStartTalking said:

This is the first season I'm watching Christina and Tarek together. I watched his 'Master Class' series which he did solo towards the end of 2020, and enjoyed it for the most part. He hosting with his ex-wife is horrible, at best. She offers nothing but her shiny veneers and such insight as 'Ohmygod!', 'Ohwow!', 'Yuck', and of course, 'Ilovethistile'.

Don't forget "super cute"!

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I watched his 'Master Class' series which he did solo towards the end of 2020, and enjoyed it for the most part. He hosting with his ex-wife is horrible, at best. She offers nothing but her shiny veneers and such insight as 'Ohmygod!', 'Ohwow!', 'Yuck', and of course, 'Ilovethistile'.

Tarek has a mini-show on Discovery+ about his personal life. I can't remember what it's called but each episode is only 15 minutes long. The first one was him and his fiance cake tasting. That was the whole thing. Anyway, his new fiance (wife by now?) is a carbon copy of Christina. Seriously, they could easily pass as sisters. It's uncanny. Talk about having a type. You just sort of want to shake him and go "Hey don't make the same mistake twice!"

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It seems to me that Christina’s lisp is even worse in this latest iteration of this show. My husband watched one today with me and said “Has she always had that lisp?” Yep, she has.

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I wonder if she has adult braces?   They cause a lisp, but are clear and on the back of the teeth (I think)?    My guess is that when she was talking to Tarek sitting in her SUV, that was when she was toward the end of her pregnancy.     

I'm still amazed at what someone paid for that huge house with the bad foundation.   I saw a rerun of that one again, and this time I listened closer to the engineer, and when he said the magic words "Expansionist Soil" I was stunned.    We had that in Colorado, and no matter what they did to a house to fix the foundation, eventually it happened again.    The fact that the swimming pool and back yard had the same issue scared me for whoever bought that place.    

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The fact that the swimming pool and back yard had the same issue scared me for whoever bought that place.    

Yeah I'd never want to live near a cliff or on a steep hillside for that very reason.

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Yes, expansionist soil is what we had in Colorado, and some houses were so badly damaged that the owners couldn't even go back in to remove furniture and other belongings, houses actually went down the hill and disintegrated.      I would never touch a house like that, because someday it's going to fall down the hill side, or part of it will pull away, and the house will collapse.     Combine that with earthquake danger, and that house was a terrible investment at any price. 

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This is the first time I've seen them use butcher block counter tops. Who knows, maybe that'll become a trend now. Real butcher block is kind of high maintenance, you have to keep them oiled or they dry out and crack. 

Taylor really looks like Tarek.

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I suspect we were seeing the pilot episode of the Tarek teaches Taylor about flipping show that's another Discovery + exclusive. 

That was a decent remodel of that tiny house.   I was surprised at the butcher block too, and it really isn't much cheaper than quartz or granite.  I wouldn't want butcher block counters, I only like sealed granite, or quartz (that's my favorite).    Instead of butcher block, I could live with a laminate with no maintenance until I wanted to upgrade.   

Edited by CrazyInAlabama
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I’ve seen butcher block used on Rehab Rescue in some of the lower budget kitchens—and Ben and Erin have used it, but I think they had the wood laying around. 

Does Tarek think Taylor is the new Hunter Fieri? Ugh.

Edited by buttersister
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Regarding the house with the major foundation issues, I was sad they removed the arches inside.  I know Christina would state they were dated but I saw them more as giving the house character.  Which again, Christina can't have. 

Tarek seems to have so much more personality now and be much more lively than he was when they first came on the scene.  I have to attribute this to being free from the anvil around his neck that was named Christina.  

I'm not a fan AT ALL of kids being added to these types of shows (like the God awful House Hunters Family version....barf), but I don't mind Taylor showing up.  She seems like a nice little girl who's just spending time with her Dad.  I feel really bad for those kids who have likely been negatively impacted by Christina's relationship decisions.  

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I'm not a fan AT ALL of kids being added to these types of shows (like the God awful House Hunters Family version....barf), but I don't mind Taylor showing up.  She seems like a nice little girl who's just spending time with her Dad. 

She's also been on the show since Day 1.

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Both Tarek & Christina seem much happier & even do the confessionals together. After, the split & during the season that was airing you could tell they (mostly Christina) couldn’t stand to be near each other. Time heals all wounds as they say. She got married/divorced & he’s engaged/getting married. They even even agree on most of the design decisions. It’s a much happier season for them & me. 

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26 minutes ago, ByaNose said:

They even even agree on most of the design decisions. It’s a much happier season for them & me. 

What design decisions? Everything looks the same in every house.

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34 minutes ago, Grrarrggh said:

What design decisions? Everything looks the same in every house.

Well, there’s that. 

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Tarak is a very happy guy now days and I’m thrilled for him.  As I watched the show, I kept thinking something was different about his appearance and realized he had a ton of dental work done....both uppers and lowers.  

I thought they did a nice job on the house but didn’t hear how much profit they made because my DVR cut off early.  Anybody know?  

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On 5/3/2021 at 5:20 PM, Grrarrggh said:

What design decisions? Everything looks the same in every house.

Agree.  She either says, ugh, pretty, like it and makes fun of Tarek in some way.  She adds nothing to the show and I don't get it.  They have other people do all the work and just pick finishes I am sure they have in a warehouse whole sale.

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On 5/3/2021 at 12:26 PM, Kiki620 said:

Regarding the house with the major foundation issues, I was sad they removed the arches inside.  I know Christina would state they were dated but I saw them more as giving the house character.  Which again, Christina can't have. 

Tarek seems to have so much more personality now and be much more lively than he was when they first came on the scene.  I have to attribute this to being free from the anvil around his neck that was named Christina.  

I'm not a fan AT ALL of kids being added to these types of shows (like the God awful House Hunters Family version....barf), but I don't mind Taylor showing up.  She seems like a nice little girl who's just spending time with her Dad.  I feel really bad for those kids who have likely been negatively impacted by Christina's relationship decisions.  

Yep, I am a fan of arches. as the houses I prefer are craftsman or Victorian.  I live in a craftsman now and I have 4 arches in my home.  I also don't like complete open floor plans.  I still have separate rooms but the entrances to each room were widened  so they connect just enough but still have a sense of separation.

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6 minutes ago, justdoit10 said:

Agree.  She either says, ugh, pretty, like it and makes fun of Tarek in some way.  She adds nothing to the show and I don't get it.  They have other people do all the work and just pick finishes I am sure they have in a warehouse whole sale.  She is also into all this weird crap , like wearing healing crystals and a bunch of other mumbo jumbo.  I also feel bad for the kid situation.  They are never together.  Tarek has the 2 half the time and Ant has Hudson alot so you never see them together that much.  You wonder what Hudson even understands.

 

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5 hours ago, justdoit10 said:

"...She either says, ugh, pretty, like it and makes fun of Tarek in some way.  She adds nothing to the show and I don't get it....

 

5 hours ago, justdoit10 said:

 

She also says "What are the comps?"  

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I do love it when Christina chickens out, and when she screams at something in the house. 

The Garden Grove house is disgusting.   That has to be one of Tarek's "we buy anything no matter how ugly" company deals.   That house is awful.   I hate to agree with Christina, but the sheet vinyl on the ceiling is a bad sign.   Then the water damaged room, where the old parquet tile is coming up, reminds me of the early years on this show.   I'm wondering about foundation damage, which is so expensive.   I'm wondering what the lumpy back yard is from.  I wonder if they filled in a pool or something.     I'm betting this was filmed right after the lockdowns, since for a lot of the talking heads, C & T are far apart.    

I thought the kitchen back splash and shower tile were more modern than mid-century modern.     I think a light wood cabinet would have been better.   The dark grey they chose were way too dark for mid-century, and highlighted the lack of light in the kitchen and baths.  

The sellers market in California is the only reason that house sold for so much over listing price.       The kitchen looked awful.    There must have been some way to run extra lighting in there, and I find it bizarre that the lack of lighting didn't occur until after they ordered the cabinets.    I bet they have a lot of cabinets in that warehouse they much have for their flip supplies (they said one time they have up to 10 at a time in progress), and they had a lot of that color.    

I bet Tarek is buying houses without inspections, and in 'as is' condition, but at a huge discount.   That's why so many this season are full of junk, and falling apart.    

Edited by CrazyInAlabama
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38 minutes ago, CrazyInAlabama said:

I do love it when Christina chickens out, and when she screams at something in the house. 

The Garden Grove house is disgusting.   That has to be one of Tarek's "we buy anything no matter how ugly" company deals.   That house is awful.   I hate to agree with Christina, but the sheet vinyl on the ceiling is a bad sign.   Then the water damaged room, where the old parquet tile is coming up, reminds me of the early years on this show.   I'm wondering about foundation damage, which is so expensive.   I'm wondering what the lumpy back yard is from.  I wonder if they filled in a pool or something.  

You think she would be used to them by now.  I think she does it just for show.  I find the whole show stale.  They buy a house, blow out the budget, design by the seat of their pants and then tell us they made 100 grand.  They are very undisciplined for doing it for this long so I don't know how much I really believe.

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The kitchen was way too dark with the dark cabinets and little to no lighting. The one time Christina doesn’t want to do white shaker style cabinets is the kitchen that needed it most. Of course, it went way over asking and they made a huge profit. I know it’s currently a sellers market but their profits are so unreal. That said, I’ll continue watching the show. It’s my favorite show to hate watch. LOL!!!

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8 hours ago, ByaNose said:

The kitchen was way too dark with the dark cabinets and little to no lighting. The one time Christina doesn’t want to do white shaker style cabinets is the kitchen that needed it most. Of course, it went way over asking and they made a huge profit. I know it’s currently a sellers market but their profits are so unreal. That said, I’ll continue watching the show. It’s my favorite show to hate watch. LOL!!!

The kitchen layout was too small, closed off and galley to even go with the dark cabinets. And the back splash didn't do it any favors.  The staging  was also cheap looking.  How would that house even appraise for that amount?  

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1 hour ago, justdoit10 said:

How would that house even appraise for that amount?  

Location, location, location! Some areas are just having insane markets, who knows how long it will last. That house is smaller than mine in sq. footage but cost 10 times as much; absolutely no one would pay those kind of prices to live where I am. 😀

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26 minutes ago, Broderbits said:

Location, location, location! Some areas are just having insane markets, who knows how long it will last. That house is smaller than mine in sq. footage but cost 10 times as much; absolutely no one would pay those kind of prices to live where I am. 😀

Is Garden Grove all that desirable these days? When I lived in Yorba Linda in the early 70s we mocked Garden Grove as "Garbage Grove" because it had seen better times even back then. Has it made a comeback?

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With the market now, there are a lot of all cash buyers, and an all cash buy means, no appraisal, and only inspections if the buyer wants them.    They go through very quickly too. (I had a house that sold for cash to an investor a long time ago).    No waiting for mortgage approvals, no contingencies for selling a previous house, very quick.   

Otherwise, if the buyer is financing, the difference between appraisal, and selling price has to be paid by the buyer.   

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3 hours ago, CrazyInAlabama said:

With the market now, there are a lot of all cash buyers, and an all cash buy means, no appraisal, and only inspections if the buyer wants them.    They go through very quickly too. (I had a house that sold for cash to an investor a long time ago).    No waiting for mortgage approvals, no contingencies for selling a previous house, very quick.   

Otherwise, if the buyer is financing, the difference between appraisal, and selling price has to be paid by the buyer.   

True.  Just looking at this house and a price tag of 780 blows my mind.  There is nothing remarkable about it, but then again I don't live where that would even sell close to that price.

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4 hours ago, CrazyInAlabama said:

With the market now, there are a lot of all cash buyers, and an all cash buy means, no appraisal, and only inspections if the buyer wants them.    They go through very quickly too. (I had a house that sold for cash to an investor a long time ago).    No waiting for mortgage approvals, no contingencies for selling a previous house, very quick.   

Otherwise, if the buyer is financing, the difference between appraisal, and selling price has to be paid by the buyer.   

I always get emails & flyers about cash buyers wanting to buy my house. It sounds so tempting but it also sounds too good to be true. I doubt my realtor would recommend thus losing out on a commission. I guess I would have to talk to someone I knew who has done it. I guess if you had a general idea what the houses in your area (I’m in a townhouse) you might have a good idea if the offer was worth it or not. 

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55 minutes ago, ByaNose said:

I always get emails & flyers about cash buyers wanting to buy my house. It sounds so tempting but it also sounds too good to be true. I doubt my realtor would recommend thus losing out on a commission. I guess I would have to talk to someone I knew who has done it. I guess if you had a general idea what the houses in your area (I’m in a townhouse) you might have a good idea if the offer was worth it or not. 

We get those "I want to buy your house" letters in the mail and immediately trash them. Out of curiosity I might call one of them some day if I'm really bored, but I'm sure it would be a low ball offer or some type of scam.

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47 minutes ago, CruiseDiva said:

We get those "I want to buy your house" letters in the mail and immediately trash them. Out of curiosity I might call one of them some day if I'm really bored, but I'm sure it would be a low ball offer or some type of scam.

It’s funny but I know I don’t have to do it or follow up but I’m scared to even initiate it. They could be part of a cartel and make me a slave and make me shave my head. LOL!!! Seriously though....I am curious about it. I’m sure their part is legit but it’d be interesting to see if they totally low ball you or somewhat competitive in their offer. 

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2 hours ago, ByaNose said:

I always get emails & flyers about cash buyers wanting to buy my house. It sounds so tempting but it also sounds too good to be true. I doubt my realtor would recommend thus losing out on a commission. I guess I would have to talk to someone I knew who has done it. I guess if you had a general idea what the houses in your area (I’m in a townhouse) you might have a good idea if the offer was worth it or not. 

The way the people who buy houses for cash (not to be confused with individual buyers who pay all cash) as a business, they pay wholesale prices, not retail.   The ones Tarek buys are a good example, houses that are trashed, need a lot of work, and they just want them gone.  So they lowball the offer, and the seller or estate, get rid of a headache, and Tarek can fix up and flip.  

 Remember the one he flipped with his adorable friend Robert (I think Robert)?   That house was as is, no inspections, no visits, just cash and done.     It was also full of lots of junk.  

There are legitimate, full price cash buyers, but they're not the type of house Tarek buys and  flips.  

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I actually looked into those buy-house-with-cash companies when selling my house a year ago.  I was downsizing and wanting to sell my house "as is" with minimal effort during COVID.  They offered me $380K for my 1973 3 bed/1.5 bath that I'd lived in for 32 yrs with no upgrades or paint in the last 24 yrs.  I was hoping to get $400K based on comps in my area using a realtor (with closing costs that would have net ~$380K too).  But I went with an experienced realtor & got $440K ($420 after closing costs, so $40K more in my pocket) since they tend to have more contacts with people wanting to buy a house for the school district & to live in, rather than just buyers looking to do cheap flips. 

Since I'd paid off my house years ago, I could afford to own both it and my new condo for 4 overlapping months and move out/in slowly while deciding what to keep, move, trash, donate etc..  But if I were moving far away or had to sell quickly, I can see the appeal of house-for-cash buying companies. Though I'd have my own lawyer look over the contract rather than using the buying company's lawyer.

 

 

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6 hours ago, ByaNose said:

I always get emails & flyers about cash buyers wanting to buy my house. It sounds so tempting but it also sounds too good to be true. I doubt my realtor would recommend thus losing out on a commission. I guess I would have to talk to someone I knew who has done it. I guess if you had a general idea what the houses in your area (I’m in a townhouse) you might have a good idea if the offer was worth it or not. 

And how much you still owe on the mortgage or the equity you have in it.  And where would you move to then? I have a smaller home, have received texts like those and I just ignore them.  They would have to pay way over, for me to consider it and I know they wouldn't.

5 hours ago, CruiseDiva said:

We get those "I want to buy your house" letters in the mail and immediately trash them. Out of curiosity I might call one of them some day if I'm really bored, but I'm sure it would be a low ball offer or some type of scam.

You could always mess with them and ask for some outrageous price tag.

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5 minutes ago, Kenzie said:

I always get emails & flyers about cash buyers wanting to buy my house. It sounds so tempting but it also sounds too good to be true.

(Sorry for the double post) These offers are aimed at homeowners or heirs that do not have the funds to repair a home for a decent sale. The flipper's offer is usually a low as-is offer and his goal is to make a pretty decent profit after the reno.

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5 hours ago, deirdra said:

But I went with an experienced realtor & got $440K ($420 after closing costs,

How did you manage to pay only 20K in closing costs including realtor commission?? 

6% commission alone on 440K is $26,400. Even at 5%, that's $22,000. Just curious.

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The thing about the Garden Grove house is that once they removed the dividing wall between the kitchen and the living room, the refrigerator was in full view of the living area right when you walked in the front door. 

I swear, they might as well have torn the house down completely and rebuilt it for all the work they had to do. I mean they practically did that anyway.

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We get those "I want to buy your house" letters in the mail and immediately trash them. Out of curiosity I might call one of them some day if I'm really bored, but I'm sure it would be a low ball offer or some type of scam.

I always find those mailers insulting. It's like someone looked at my house and thought it was garbage I'd be willing to sell on the cheap!

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