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Author Topic: The Montelongo's on "Flip This House"  (Read 27386 times)

Offline rlack72

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Re:The Montelongo's on "Flip This House"
« Reply #30 on: January 15, 2007, 10:24:03 am »
I do watch FTH for entertainment and tips. The Montelongo's seem to be really cheap with their rehabs. I know that is the name of the game for some, but spend a little extra and give your future buyers a great home that they can be proud of.

Offline Rich_in_CT

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Re:The Montelongo's on "Flip This House"
« Reply #31 on: January 15, 2007, 10:26:10 am »
I do watch FTH for entertainment and tips. The Montelongo's seem to be really cheap with their rehabs. I know that is the name of the game for some, but spend a little extra and give your future buyers a great home that they can be proud of.
On the flipside of the coin I think they are mostly going after relatively low income, you don't want to overbuild for your buyer.  But don't underbuild either.....

Offline kdhastedt

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Re:The Montelongo's on "Flip This House"
« Reply #32 on: January 15, 2007, 10:28:58 am »

Spending a day cleaning the mess would have cost him probably about $100...and it would have added thousands to the value.  Plus. I'm gonna guess that there was a tow-truck bill to get his sorry butt pulled out of the muck because he's an idiot...plus the cost of new Italian leather loafers...
I have CDO...it's like OCD but in alphabetical order - the way it should be!

Offline Rich_in_CT

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Re:The Montelongo's on "Flip This House"
« Reply #33 on: January 15, 2007, 10:30:11 am »
He probably got his shoes at Payless.

Offline DannyTheGreat

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Re:The Montelongo's on "Flip This House"
« Reply #34 on: January 15, 2007, 10:39:54 am »
I find myself yelling at the TV when I watch these clowns. Not only did the problem of the house sinking have little to do with the backyard, but it wasn't even eroding away as it was not on a hill.

They tried to remedy the situation by putting mulch over the dirt to stop a house from sinking??? They could of planted grass (or anything with roots) to keep the soil from moving around.

The lack of support piers was the real issue. By spreading the weight of the house over a larger ground surface area, they reduce the weight per square inch on each support pier. Think about how many pounds of pressure it would take to sink a nail in the dirt, not much. Now how many pounds of pressure would it take to sink a 4x8 sheet of plywood laying flat into the ground? A LOT more.

I especially like opening credits when the main character is wearing his clean clothes and designer sunglasses standing behind people who work for a living giving the "Rally" hand signal and saying "Let's go, Let's go, Let's go!!" Definitely shows what kind of person he is....
« Last Edit: January 15, 2007, 11:02:15 am by DannyTheGreat »
"I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."- Isoroku Yamamoto, Japanese Admiral- After the attack on Pearl Harbor

Offline bull136

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Re:The Montelongo's on "Flip This House"
« Reply #35 on: January 16, 2007, 04:34:56 am »
I've bought and sold many properties even when we under priced a house in a hot market selling so many houses in one day i find hard to beleive. and many new investors who watch some the other episodes of flip this house they leave out alot of expenses i''ll give you an example. someone buys a house on one episode in southern cali. for $300'000 they  put $40'000 into it and sell it for $400,000 they say we made a profit of $60,000 they toke a mortgage  out to buy,they spent closing costs of about $5,000 when you sell they always leave out commision of 6% they dont sell on there own they even show the realitor in the show  when most buyers are working with a realitor because its free for the buyer. and even if you sell in the first week you would still have 1 mortgage payment of about $2,300 therefor the accual profit on a hgouse like this is $28,700 an some states also have a reality transfer fee when you sell which would make the profit less.  

Offline Bluemoon06

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Re:The Montelongo's on "Flip This House"
« Reply #36 on: January 16, 2007, 11:51:03 am »
the accual profit on a house like this is $28,700 and some states also have a reality transfer fee when you sell which would make the profit less.  

And of that $28,700 they owe ordinary income taxes of say 30% plus both sides of social security which is about 15% and any state income tax which leaves $15,700 you can actually spend.
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Offline BobbiOh

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Re:The Montelongo's on "Flip This House"
« Reply #37 on: January 16, 2007, 12:09:35 pm »
I just recently saw the episode where they auctioned of the house. It made me laugh knowing that a lot of the people standing there holdings numbers were "extras". Melina had put an ad up on Craigslist to get people to show up and stand there.

I've been trying to figure out what Armando thinks he's teaching the intern by having him fill in the sinking area with mulch. I found it hypocritical because Armando never actually does any physical labor. He's not teaching the kid anything other than how to cheap out.

That same episode they "painted" the lawn green.  :-X
I'd rather be a lion for one day, than a sheep for my entire life.

Offline kdhastedt

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Re:The Montelongo's on "Flip This House"
« Reply #38 on: January 16, 2007, 01:35:21 pm »

<<I've been trying to figure out what Armando thinks he's teaching the intern by having him fill in the sinking area with mulch. I found it hypocritical because Armando never actually does any physical labor. He's not teaching the kid anything other than how to cheap out.

That same episode they "painted" the lawn green.
>>

He's teaching him to be sleazy...when I get done watching the shows with the Montelongo family, I feel a strong need to wash my hands (if you follow me)...

Keith
I have CDO...it's like OCD but in alphabetical order - the way it should be!

Offline tkc

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Re:The Montelongo's on "Flip This House"
« Reply #39 on: January 16, 2007, 02:22:32 pm »
 I think the Montelongos are brilliant! They have what it takes to be successful in their house rehabbing profession. I wish I could do that.
TKC :)

Offline rlack72

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Re:The Montelongo's on "Flip This House"
« Reply #40 on: January 16, 2007, 02:29:49 pm »
Successful and unethical are two different things in my book though.

Offline BobbiOh

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Re:The Montelongo's on "Flip This House"
« Reply #41 on: January 16, 2007, 02:30:50 pm »
I think the Montelongos are brilliant! They have what it takes to be successful in their house rehabbing profession. I wish I could do that.
TKC :)

I'd rather be able to look myself in the eye each morning and make less, than be making millions by walking on the backs of others.

If you consider being unethical as being brilliant, then I guess you're dead on. But, then again, being unethical tends to be easy. There are other companies that are flourishing and doing the right thing. They're the brilliant ones.
I'd rather be a lion for one day, than a sheep for my entire life.

Offline Rich_in_CT

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Re:The Montelongo's on "Flip This House"
« Reply #42 on: January 16, 2007, 02:31:53 pm »
Who can't tell the lawn is painted?  It wouldn't take a genius to notice that, it looked obvious even on TV.....who are they fooling?

Offline Rich_in_CT

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Re:The Montelongo's on "Flip This House"
« Reply #43 on: January 16, 2007, 02:32:27 pm »
Btw, if the paid extras were actually bidding (not sure if they were) isn't that illegal?

Offline BobbiOh

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Re:The Montelongo's on "Flip This House"
« Reply #44 on: January 16, 2007, 03:41:52 pm »
Who can't tell the lawn is painted?  It wouldn't take a genius to notice that, it looked obvious even on TV.....who are they fooling?

What!?! You mean that straight line of green and not green against the neighbor's lawn wasn't just better lawn tending?  ;D

I wondered if any of the extras were bidding.......
I'd rather be a lion for one day, than a sheep for my entire life.

 




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