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Old 11-29-2009, 08:28 AM
 
Location: Charleston, SC
5,615 posts, read 14,793,059 times
Reputation: 2555

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Quote:
Originally Posted by Bowie View Post
Maybe the show is not being continued because flipping is not a popular pastime in the current real estate market?
Beat me to it.

But the things they'd cover up on some of the episodes were revolting IMO. Wood rot, structural issues and whatnot.

 
Old 11-29-2009, 01:27 PM
 
4,796 posts, read 15,367,677 times
Reputation: 2736
I also like the concept of the show.....my fav are the bros in Maine or the far NE. They run their business like professionals. Armando was not from SA and did not reflect a good business model in my mind. I have to agree that covering dry rot etc was inexcusable.....unfortunately, that happens with a lot of unscrupulous "flippers". If I was looking at purchasing a house that had been flipped, I would walk away instantly.....for several reasons.

I saw Armando on another show recently.....maybe it was a guest appearance....something not very significant. He just does not impress me in the least. His wife put up with way too much of his bs.....but she was a complete delight. Can't imagine what she saw in him.
 
Old 11-29-2009, 01:46 PM
 
Location: San Antonio-Westover Hills
6,884 posts, read 20,407,466 times
Reputation: 5176
Quote:
Originally Posted by Bowie View Post
Maybe the show is not being continued because flipping is not a popular pastime in the current real estate market?

No.....I'm pretty sure it's not being continued because they're dou*hebags.
 
Old 11-29-2009, 02:20 PM
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Location: Ohio
17,107 posts, read 38,111,983 times
Reputation: 14447
Quote:
Originally Posted by wCat View Post
Armando was not from SA and did not reflect a good business model in my mind. I have to agree that covering dry rot etc was inexcusable.....unfortunately, that happens with a lot of unscrupulous "flippers". If I was looking at purchasing a house that had been flipped, I would walk away instantly.....for several reasons.
My parents (in another city) live next to a house that was flipped after a foreclosure. The flipper had new siding installed on the house. My parents said it appeared that the siding installer had never installed siding before - corners weren't straight and the job took weeks instead of days. Indeed, not long after the new buyer took possession, some of the siding peeled off of the house in a fairly minor windstorm! Flippers definitely seem to get their work done by the low bidder.
 
Old 11-29-2009, 04:08 PM
 
173 posts, read 598,142 times
Reputation: 142
Quote:
Originally Posted by wCat View Post
I also like the concept of the show.....my fav are the bros in Maine or the far NE. They run their business like professionals. Armando was not from SA and did not reflect a good business model in my mind. I have to agree that covering dry rot etc was inexcusable.....unfortunately, that happens with a lot of unscrupulous "flippers". If I was looking at purchasing a house that had been flipped, I would walk away instantly.....for several reasons.

I saw Armando on another show recently.....maybe it was a guest appearance....something not very significant. He just does not impress me in the least. His wife put up with way too much of his bs.....but she was a complete delight. Can't imagine what she saw in him.
I see what you are saying... I got lucky I think. We bought our house from a couple that flipped for a hobby. They had lived in this house for 9 years. When I hired the home inspector he told me to come back in about 3 hours and he could give me the report. When I came back, he was just amazed. Everything was immaculate as the owner had recently replaced the roof, AC/heat, new paint, carpet, counters, cabinets etc. etc. etc. Literally the only things he found wrong was there was some sort of vent pipe on my roof that should have been a foot long, but wasnt (code violation) and several of the window screens had some small holes in them. He pulled me off to one side and said that he wasnt ever supposed to mention this but that he felt I was getting an incredible deal for the asking price considering how much he had gone over the property. I had already bought the house in word only upon seeing it and of course, pending inspection. Being 30 years old, the house could have been in a lot worse shape. Ive not put a single dollar into repairs in the 3 years we have lived here. I hope that trend continues!
 
Old 11-29-2009, 04:55 PM
 
Location: Dallas, TX
944 posts, read 2,041,215 times
Reputation: 761
Quote:
Originally Posted by wCat View Post
His wife put up with way too much of his bs.....but she was a complete delight. Can't imagine what she saw in him.
Money?
 
Old 11-30-2009, 02:35 PM
 
4,796 posts, read 15,367,677 times
Reputation: 2736
Quote:
Originally Posted by Backliteyes View Post
Money?
well...according to his "schpiel" (sp?) at the opening of the show, they arrived in SA with .25 in his pocket. He talked like he was some flipper extraordinaire who just had been blessed with instinctive "flipping" genes! But then these shows are all "reality" based (which actually means they are scripted and have nothing to do with reality! lol!) Heck....she may not even been his real wife. He was married, but maybe she was a stand in!
 
Old 11-30-2009, 02:46 PM
 
4,145 posts, read 10,427,991 times
Reputation: 3339
She's his real wife. He actually is a pretty sharp guy and is a pretty solid investor. Definitely knows what he's doing. A lot of the attitude is played up for the show, as is a lot of the work they do/don't do on the house. A show on house flipping would be boring and actually scare people away from it if they didn't edit in tons of entertainment. Flipping isn't easy. From my experiences, they're actually good people.
 
Old 11-30-2009, 02:49 PM
 
4,796 posts, read 15,367,677 times
Reputation: 2736
Quote:
Originally Posted by TexasCovertCarry View Post
I see what you are saying... I got lucky I think. We bought our house from a couple that flipped for a hobby. They had lived in this house for 9 years. When I hired the home inspector he told me to come back in about 3 hours and he could give me the report. When I came back, he was just amazed. Everything was immaculate as the owner had recently replaced the roof, AC/heat, new paint, carpet, counters, cabinets etc. etc. etc. Literally the only things he found wrong was there was some sort of vent pipe on my roof that should have been a foot long, but wasnt (code violation) and several of the window screens had some small holes in them. He pulled me off to one side and said that he wasnt ever supposed to mention this but that he felt I was getting an incredible deal for the asking price considering how much he had gone over the property. I had already bought the house in word only upon seeing it and of course, pending inspection. Being 30 years old, the house could have been in a lot worse shape. Ive not put a single dollar into repairs in the 3 years we have lived here. I hope that trend continues!
Sounds like you really got a good deal, not only with honest and ethical sellers, but a good inspector. The fact that they lived in that house for 9 years also says a lot.

When we were "shopping" about 5 years ago (when flipping was becoming widely known), there were several properties that had only been owned for 3-4 months and had definitely been flipped and staged. Just the fact that it was such a quick turn around in reselling the property made me realize that they were not going to be negotiable on the price too much. Flippers are generally in it to buy low and sell high, just like the stock market. From the price increase between the two sales of one house, it was at the top of the market according to comps in the area. Not much chance to build equity if the house value didn't increase quickly. Plus some of the upgrades were not what I would have put in the house if I had purchased it as is. We like to fix up what we buy anyway....so that's also one of the reasons we didn't like looking at flipped houses.

If the house is done right, passes inspection with a really good inspector, is priced right, a flipped house is great for someone that wants an older house that is move-in ready. A really good Realtor is important in the equation too!

Congrats on your house! I'm glad you're enjoying it!
 
Old 11-30-2009, 02:54 PM
 
1,131 posts, read 1,780,329 times
Reputation: 493
He is from SA, it was his wife who was from California.
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