If you know any flippers in trouble in Orange County, Flip This House wants to know about them. Yes, you know… that show. I think it’ll be interesting to see if there are any great stories that come out of them. Basically, as a blogger, I can stand back and watch the fireworks from a distance without getting my hands dirty, a kind of sanitized schadenfreude that comes with not getting involved.
However, if you know someone who tried to flip in Orange County and couldn’t pull it off, or just is having a hard time, Brandy from Flip This House wants to hear from you. Write to her at the following address: realestatenightmares(at)gmail.com Of course, I get no part of this other than the sick satisfaction of seeing the final product like other train-wreck watchers out there. Besides, the way I feel about it is that I warned people publicly as early as April 2005 that flipping was a dangerous sport, so if you falldowngetbooboo, I don’t have any sympathy for you. Pound sand.
On the other hand, if you get some kind of sick pleasure out of watching other people financially crash and burn after they’ve been warned that they’re playing with fire… well, you’re my kind of people.
Who cut the brake lines on this wreck (flip)….. or as some say “give them enough rope and they will hang themselves”. I am still wondering how the group in San Antonio of Flip this House has survived this long… given their mis-understanding of truely renovating properties is beyond me. They show these guys buying homes that should be demolished with EVERYTHING wrong from the structrue to the basic things, but they show up with a paint brush and day laborers making patch work and have the nerve to sell these homes and pat themselves on the back as if the did some great service….. wake up call to those in the San Antonio area, if you recognize this group….run,run,run. As for the OC area flippers, I think their are a few sitting near the freeway off-ramps looking for assistance.
Great metaphor with the picture. Even here in Honolulu, flip at your own risk. I tell clients to be sure to have a long term plan too.
Aloha,
Keahi
RE/MAX 808 Realty
877-737-2093
808-737-2093
Do you seriously think we’re going to get anything like reality from the show? I doubt it – being the bubble’s biggest fans and promoters, it seems more likely they’ll pick a one in a thousand “miracle turnaround” scenario to show us all that you can still can make huge profits flipping into this market and that we should really all be running out to buy today before prices start running back up.
Actually Chuck, I’m kinda surprised you’d help these people out…
Thanks Jim,
However, I disagree with you. These guys will do anything for good tv. flippers in trouble is just as enjoyable to watch as pretty much anything. TV reflects society, not guides it.
Years ago, people wanted to watch a show where people made insane amounts of money being stupid. Today, they want to see people lose outrageous amounts of money being stupid. Humans are a fickle bunch.
Just look at news at 11:00. It’s car crashes, shootouts, and drug deals. Real fun stuff.
Chuck
Actually I think we should cut HGTV a little slack as just a 2 years late mirror on society. People were in fact doing what they showed . If they do now plan on showing that taking 16 weeks to do a crappy paint job and putting up crown molding may not result in a $188,000 profit when you get ”multiple offers” day 1 on the market. I think I may enjoy the steadily growing sense of impending doom as the flippers face reality – could make the show a hit again. And if it scares off anyone who thinks we are at the bottom and now is the time to get in to the market before it goes up again then they are finally doing a public service. By the way did anyone else wonder if the price estimates were totally phoney “….yeah we plan on gutting the kitchen, granite counters, stainless steel appliances, new cabinets, recessed lighting, 18 inch tile floor”, Whats our budget? $4500. That might be another area where some daylight could be shed.
Chuck, How do I email you?
socalb (at) gmail.com
Thank you, I have sent you an email.
Jesus! Well, it’s always good to see the airbags deploy on that Audi.
I think most of the Casey Serin-like flippers in OC got out of Dodge toward the end of 2007. Now it’s OC banks that are trying to flip foreclosed houses –and they oh so royally suck at it.
I am going through withdrawals, it’s been almost a month. It’s as if you have a real life outside of blogging about the bubble…
I agree with Kevin. Whatever your “day job” is paying you, Kevin and I will double it.
I have to agree that now is not the ideal time to flip houses for a profit. If you have money to spare and are looking to flip houses in the future, it may be wise to buy a house at auction or that is going through foreclosure for dirt cheap. When the market starts to turn around, you will be able to flip it in no time.
I live in San Diego and there’s a flipper in trouble on my block. Bought a house with MAJOR structural defects, packed with trash (dead former owner had been a packrat), and hadn’t been updated in 30 years. Rumor had it in our neighborhood that the buyer was a contractor and was doing most of the work himself. Nope. New owner is a Realtor. I went to his absolutely ghost town open house. He hired out all of the work and is now trying to get $100,000 more than what he paid. Ain’t gonna work.