Jump to content
Forums forums
PRIMETIMER
SilverStormm

Good Bones

Recommended Posts

On 6/20/2019 at 5:18 PM, bilgistic said:

Something that has come to bother me about the show/the flips is them saying a neighborhood is "up-and-coming" or "transitioning", and that's in part because of their help. Those words/phrases are codes for gentrification. Consider that they paid $100K for the house last week (the teardown) and said it would've been $3K a couple years ago. That's crazy. People who have lived their whole lives in a modestly priced neighborhood aren't going to be able to pay tax bills when property values increase in their neighborhood and city-wide. I see it here in my city with sky-high housing prices and rent and destruction of affordable housing for new-home construction under the guise of "progress".

Mina and Karen say they want to improve their city, but buying and over-improving old houses that should cost $100K in neighborhoods with comparable $100K houses, and then selling the resulting $300,000 houses doesn't seem like the ethical way to do it.

Like, maybe along with doing their flips, they could help existing homeowners improve their homes structurally and cosmetically on a pro bono basis.

Yes their tax bills probably go up but they also get a stable neighborhood that raises their own property values. And they don't have to worry as much about meth-heads taking over some of the abandoned buildings and blowing the whole neighborhood up and a safer place for their kids/grandkids to play. If a shell with terrible foundations sells for 100k, a modest house should go for a lot more than that. And they aren't tearing down the houses and putting McMansions on the lot, they are keeping the houses in line with the looks of the neighborhood (except for Mina's dream house which just seemed to tower or loom over everything) but putting the higher end finishes in the inside to appeal to the young-with-money who are willing to take a chance on a neighborhood that was pretty sketchy before. There are good and bad points to gentrification/revitalization but if a neighborhood community was maintaining itself and not atrophying, there wouldn't be the opening for investors to swoop in. You want to keep the flippers out, you have to buy up the lots yourself (or collectively) and either rehab them or turn them into parks or whatever. Indiana also gives abatements (?) for poor and old people on property taxes. So the yuppy neighbors might be paying on 300k but the neighbors are still paying on closer to the 40k they bought the place at--(I think. My mom gets some sort of reduction for being old but her house hasn't gone up in value by a stunning amount in 30 years so I don't know what the discount accounts for)

I definitely wouldn't be opposed to having a few minutes of each episode dedicated to Tad and Austin hauling out junk from some granny's yard or Karen giving planting advice to a neighbor.

  • Like 2

Share this post


Link to post
On 6/20/2019 at 8:50 PM, ECM1231 said:

6 houses under construction in 10 months sounds like a lot of houses to flip. I'd think it would take at least 3 months from start to finish b/c they are basically rebuilding these houses; the aren't just cosmetic flips. Now, another question I'd always wondered about. On these shows, when then they say they have let's say a 150K renovation budget, does that include materials AND LABOR?  I mean, I guess it would b/c laborers don't work for free. So I guess they aren't doing too badly, even without the television show's money. But Karen is an attorney. I'd think a law practice would generate a lot more income than flipping but maybe this is her passion. 

BILGISTIC, that's nuts that the city expects the residents to kick in 15K to hook into a new water line!  

On a few other flipping shows they talk about flipping different houses at the same time. so Tad, et al. demolish one house then move on to the next one, while the other contractors are working on this one.

I wonder if Mina and Karen owned the awful house next door. I noticed that by the time this one was being shown, it was being worked on. I can't imagine M&K would renovate this house unless they KNEW that the house next door was going to be renovated before they tried to sell.

  • Like 1

Share this post


Link to post
12 hours ago, 3 is enough said:

@ Biglistic was the $15K a lump sum, or was there an option for a special assessment?

When we bought our house 17 years ago,  it was new construction, and we had to pay the county for the cost of building the street.  We had payments of $355 twice a year, and I just recently made the final payment.  I don't remember how much we owed originally.  Asking people for a lump sum does not seem fair to me.

I don't know. My parents are retired and on Social Security. They both work part-time jobs, so they don't have anything to spare.

  • Sad 1

Share this post


Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×