#ELIZABETH WARREN HOUSE FLIPPER TV#
What you see on TV may not tell the whole story in regards to the final profit numbers.
A good rule of thumb in flipping houses is that if you find yourself with a sledgehammer in your hand, you're probably about to make a mistake. In the end, they lose money on the deal because they over renovated. A common storyline you'll see played out in the real world is an over-zealous newbie investor, fresh off of watching a house flipping show episode, taking a sledge hammer to a perfectly good wall and destroying it so that a completely new floor plan configuration can be built. This is in direct contrast oftentimes to what successful investors do, which includes NOT doing any major work but instead, performing cosmetic fix ups such as new carpet and a fresh coat of paint. Watching all the sledge hammer demolition and other significant renovations that are performed on house flipping tv shows can motivate an investor to rip out, tear down, demolish and remove parts of a house. But what about all the pretty houses that smart investors like myself buy and resell and make huge profits on without ever having a dramatic before and after? There is a ton of investing money made on pretty deals too but that wouldn't make for good television. The awful looking "before" at the beginning followed by the gorgeous looking "after" at the end make for nice bookends in a TV episode. Rehabbing houses is actually a minor part of a successful real estate investor's time, not the majority.įlipping Houses shows highlight ugly houses and their subsequent transformation. But in the real world of real estate investing, the less time you spend dealing with rehabbing, and the more time you spend finding great deals, negotiating great deals, reducing expenses through creativity and then exiting the deal to the right buyer or tenant, the more money you will make. In a single episode, the vast majority of the camera time is spent with the fixing up of the property, dealing with the contractors and all the drama that hopefully comes along with it. House Flipping TV shows primarily focus on the actual rehabbing of properties the process of turning distressed houses into a beautiful homes. As you're about to read, what makes for good television doesn't always make for intelligent and productive real estate investing.
#ELIZABETH WARREN HOUSE FLIPPER HOW TO#
These shows are produced to entertain, not to educate and you should watch these shows purely for entertainment rather than to be educated on how to actually flip houses profitably. Most importantly, I'll answer the question of whether or not house flipping tv shows are helpful for investors to watch. You may even learn a little more about "reality" television than you wanted to know. You'll find out the pros (if any), the cons, and the things to be very aware of when trying to glean insight on flipping houses from what you see on TV. You're about to discover an inside look at how viewing these flipping houses reality shows can impact investors (as well as those who are interested in investing).
Viewership abounds for house flipping TV shows these days, begging the question for real estate investors whether watching them could be helpful or harmful to their investing endeavors.
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