Flipping Houses

Another Case of Flip this House Syndrome | A Little Help Flipping Houses

Expertise: Real Estate Marketing, Personal Development, Real Estate News & Commentary, Mortgages & Creative Financing, Real Estate Investing Basics, Landlording & Rental Properties, Flipping Houses, Personal Finance, Business Management
301 Articles Written
I realize that the title of this post is a bit cryptic, but it will soon make sense to you. We’ve all heard of the shows: Flip this House, Flip that House, Property Ladder, and I’m sure there are even more of ’em out there. These shows romanticize the act of rehabbing properties and selling [...] View the full article: Another Case of Flip this House Syndrome | A Little Help Flipping Houses on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

Want more articles like this?

Create an account today to get BiggerPocket's best blog articles delivered to your inbox

Sign up for free
Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, educator, and co-author of
Read more
    savvy
    Replied about 13 years ago
    There was one show that did have episodes where people lost a ton of money, but I can’t remember the name of it. I don’t think it’s on anymore. I remember one episode in particular where one member of the couple quit their job to renovate an “investment”. Their holding costs were huge and after about three months they couldn’t finish renovations and they were behind in payments on their primary residence. At the end (the investment property still wasn’t sold), they were still saying there wasn’t anything they’d do different. No idea how it turned out.
    savvy
    Replied about 13 years ago
    There was one show that did have episodes where people lost a ton of money, but I can’t remember the name of it. I don’t think it’s on anymore. I remember one episode in particular where one member of the couple quit their job to renovate an “investment”. Their holding costs were huge and after about three months they couldn’t finish renovations and they were behind in payments on their primary residence. At the end (the investment property still wasn’t sold), they were still saying there wasn’t anything they’d do different. No idea how it turned out.
    savvy
    Replied about 13 years ago
    There was one show that did have episodes where people lost a ton of money, but I can’t remember the name of it. I don’t think it’s on anymore. I remember one episode in particular where one member of the couple quit their job to renovate an “investment”. Their holding costs were huge and after about three months they couldn’t finish renovations and they were behind in payments on their primary residence. At the end (the investment property still wasn’t sold), they were still saying there wasn’t anything they’d do different. No idea how it turned out. Reply Report comment
    Athol Kay
    Replied about 13 years ago
    The biggie is that you can’t rely on the market to increase to create the profit from the flip. The flip has to make sense economically even if the market holds steady or even drops a bit. And actually selling the house is a different skill set than fixing the house up. I mean I can sell houses, but really only useful for demolition tasks once holding a power tool. At least the flip shows generally show the flipper using an agent to sell the house. Newbie Flipper + FSBO = uh oh.
    Athol Kay
    Replied about 13 years ago
    The biggie is that you can’t rely on the market to increase to create the profit from the flip. The flip has to make sense economically even if the market holds steady or even drops a bit. And actually selling the house is a different skill set than fixing the house up. I mean I can sell houses, but really only useful for demolition tasks once holding a power tool. At least the flip shows generally show the flipper using an agent to sell the house. Newbie Flipper + FSBO = uh oh.
    KL
    Replied over 12 years ago
    Hey, I live in the Ct area and I am an investor. I watch those shows non stop and I can tell you that there is a lot of money to be made by flipping real estate. The key is learning to find distressed properties and then having an exit strategy which allows you to maximize your profits. On my fist flip I made over 40 thousand and it took less than 2 months.
    J. Shields
    Replied over 12 years ago
    I love all the flipping shows I am currently researching info on flipping. I know several people personally who do this. The thing is for beginners go cheap. Buy houses in cheaper areas where you can get a good deal fix them and do not flip…. rent. Increasing your net value is the best way to get into this without having much money. And if you fail you won’t be homeless or in debt it is much easier to sell a cheaper house than an expensive house. Some people may not agree with this way but I have peronally seen sevaral people get into high end flipping by starting this way.
    Investment Property
    Replied over 12 years ago
    I definately agree on the glamour part of property flipping to make the show more watchable. I am based in the UK and we also have the property ladder and many many more, in fact too many of these shows, As times have changed i.e the glamour taken out of the property market with the recent troubled times, we are begining to see one or two more realistic shows where they offer more constructive criticism of wannabee developers, which in fact is even more entertaining. Reply Report comment
    Investment Property
    Replied over 12 years ago
    I definately agree on the glamour part of property flipping to make the show more watchable. I am based in the UK and we also have the property ladder and many many more, in fact too many of these shows, As times have changed i.e the glamour taken out of the property market with the recent troubled times, we are begining to see one or two more realistic shows where they offer more constructive criticism of wannabee developers, which in fact is even more entertaining.
    adverse credit mortgage
    Replied almost 12 years ago
    Talking about such programmes in the UK, i was watching a programme a week ago, that was finally attempting to give people a true perspective of the proeprty investment and house flipping business. The presenter ventured to buy, renovate, and flip a property in this current market to prove that times are not so rosy anymore. Its about time reality hit us, but the only problem is that we stil have repeat editions of these programmes being aired that were recorded when th property market was rising.
    adverse credit mortgage
    Replied almost 12 years ago
    Talking about such programmes in the UK, i was watching a programme a week ago, that was finally attempting to give people a true perspective of the proeprty investment and house flipping business. The presenter ventured to buy, renovate, and flip a property in this current market to prove that times are not so rosy anymore. Its about time reality hit us, but the only problem is that we stil have repeat editions of these programmes being aired that were recorded when th property market was rising. Reply Report comment
    adverse credit mortgage
    Replied almost 12 years ago
    Talking about such programmes in the UK, i was watching a programme a week ago, that was finally attempting to give people a true perspective of the proeprty investment and house flipping business. The presenter ventured to buy, renovate, and flip a property in this current market to prove that times are not so rosy anymore. Its about time reality hit us, but the only problem is that we stil have repeat editions of these programmes being aired that were recorded when th property market was rising.
    Mansfield
    Replied about 10 years ago
    LOVE this article. You make so many valid points…its so annoying to me to see all those reality shows..esp the ones that misinterpret the hard work that goes into house flipping.
    Mansfield
    Replied about 10 years ago
    LOVE this article. You make so many valid points…its so annoying to me to see all those reality shows..esp the ones that misinterpret the hard work that goes into house flipping. Reply Report comment