With the rise of such networks as HGTV and the DIY Network, there now seems to be an overabundance of shows that show the "fix and flip" process -- and while some get the process down pat, there are many more that are completely off-base.
Here's a list of shows about "fixing and flipping," and what they get right (and wrong) about the process:
Flip or Flop:
This HGTV show -- and its spin-off, Flip or Flop Vegas -- seem to be the current gold standard of house flipping. Hosted by now-ex-husband-and-wife team Tarek and Christina El Moussa, the show takes place in Southern California which is a notoriously expensive market. And while the couple gets the basics of "fixing and flipping" right, they seem to be spending more money than they need to, and not getting a good return on their investment. A good number to bear in mind, when flipping houses, is 70% -- that is, you should never spend more than 70% of the ARV (after-repair value) of a house on a flip property, and this is something that the El Moussa's never seem to be able to do.
This A&E show, while certainly entertaining to watch (Scott Yancy has an amazing fleet of cars) is even less accurate than Flip or Flop. The biggest misconception they put forth is that flippers have unlimited amounts of money, and/or that they always pay in cash -- neither of which is the case, and neither of which has to be the case.
This show, which airs on the DIY Network, is the most accurate of all the "house flipping" shows. Host Scott McGillivray not only shows realistic budgets for both repairs and house purchase, but he shows the buyer how she/he can turn their house into an income-generating investment.
In short, while television shows about fix and flips can be entertaining, nothing beats professional advice from real people in the industry. That's why you need to contact us today if you need good advice about fixing and flipping houses.