Property ladder, is this for real?

I started watching this show latley and honestly learn more from it than any other show that involves REI. “Flip this house” is still my fav though.

The reason I learn so much is because these people make incredibly stupid mistakes an you see the consequences they pay for making stupid decisions. The last episode I saw a guy who has not bussiness making rehab estimates made an estimate on his property for 10k to rehab. It ended up costing 45k.

It is like the producers of the show intentionally find people that jump in without doing research.

It is highly entertaining.

I’m a newb and even I yell at my TV when I watch that show. My girlfriend thinks I’m nuts.

It is like the producers of the show intentionally find people that jump in without doing research.

It is highly entertaining.

LOL, I agree.

This is the show to watch if your interested in what not to do.

For the record Rich, your girlfriend is right.

Most definitely. Well as most guys can attest…even if you’re right most of the time you’re still wrong.

Not if you order your wife from a Russia!

I also saw this episode last night but only half of it. I felt bad for his wife, she should’ve married someone smarter!!

That guy had no idea what he was doing. I swear he saw it on TV and was like oh hey I can do that! and found some guy with money and convinced him to get in on it. Where did he ever come up with the $10,000 figure is beyond me. It could’ve been done for $30,000 or maybe even $25,000 if you have the connections. He made a mistake by trying to do all the work himself when he was just wasting his time and screwing things up.

What these people always seem to do is do all the work themselves and end up spending way over budget and way over time, and then still try to sell the house so they make 100k or something. It’s so much more realistic when you aren’t greedy (which is the definition of america) and go for lower profits, but possibly a higher quantity. Sell the house UNDER what comparable houses are selling for in the neighborhood, and if the figures dont add up then dont buy it.

I’m a newb and I’m just speculating. I’d be happy with getting 8-10k profit out of a rehab, seriously whats the average income in this country, 25k a year? do a few of those deals a year and you’re able to live. I’m not all about living super high class i’d rather keep my bank account filled to the brim then buy a house over 180k to live in. I hope this makes me successful in my eyes someday, only if i can get my freaking taxes paid off on the property I do own!!

so, if a tree falls in the forest, and there’s no one around to hear it, is the man still wrong?

I laugh at the show for one reason… We live in a world where nothing is selling like it was 4 years ago. And in 47 out of 50 states now is not the time to fix and flip for full Retail.