TV reality flipping shows

[OKinvestor]

I really enjoy watching these shows since this is what i do.  However they make it look really simple.  I do not understand how they can get a house completed: bought, fixed up and sold, in such a short time.  In my experience it takes a couple of weeks to buy,  a month or two to fix up, and once under contract a month to close.   They also seem to have a contractor that does it all and for a great price.  I have yet to stay on or under budget on anything and these guys are practically making the house brand new at minimum expense.  What is the secret to all this?  

[real estate 001]

 keep in mind it is tv and there fore  is set to sell  to make this all look easy and for a little money you can  make a lot very fast   and this appeals to any one fast money


 but here in the real world where you and i live  it is not so simple and easy  even if you have a top line crew you work with all the time  if you do as much as they do most of the time you would have to have a inspector come out and check it all out  and you work on there time not yours


 and you are right even if you were to buy from the owner no reator it still takes all most if not 30 days to close    and then you have the rehab  this takes even a little  around two weeks   so now you have  all most two months in one house    then the last part  when you sell  it for your profit this can be from 30 days to  when ever  on the market where you are   and antoer 30 days or may be less to close with the new seller


 but is this not just the best bussiness to be in   as that check in the end is where it all counts  to make as much in two to three months  as some make all year !!!!!

[terryall]

It's reality tv.....that's all you need to know.

[OKinvestor]

It is definitely the best "job"to have.  It is challenging but yet the most rewarding after it is all said and done.   Not having to clock in for someone or having them tell you what to do has a lot to say for itself.  anyway thanks for the replys, just wanted to be sure i wasn't taking too long on some of these deals, or maybe there was a quicker way.

[terryall]

OK, I am with you.  I have been only doing wholesale flipping to rehabbers but I think this is an area that I would definitely want to dive into....that is just finding the deal and rehabbing myself.  My DH works for a general contractor so we have a lot of connections for various types of work and I am a bit of a control freak so I would love to be able to run a project.  I just would be weary of these reality shows because often they speed up time just for the TV...

Do you find the properties and rehab them and then flip them?  

[Got2sell]

I agree as I really enjoy these shows as well.  Its funny though that they only present profit as Purchase - Rehab.  They never take into account hard costs, real estate commisions, etc.  They make it look like investors always make huge profits on the rehab projects.  I know its just tv, so I just take it for the entertainment value.

C

[OKinvestor]

This is what I do full time now.  I locate rehabs and fix them up and resell them.  I do have a few rentals which are ok for long term.  I just picked up a winner last Monday that I hope to start in a couple of weeks unless I can wholesale it first.  it is a large home in a very upscale area but needs updating.  It will be fun but challenging.  Thanks for the replys.

[Tony Chicago]

Reality T.V.?

Want to do it right you need to learn from the best.  

[kdhastedt]

Robb,

A big glass for Tony Chicago, please...

Keith

[reoconsultants]

It's poured chilled and ready to drink....

[Tony Chicago]

I'm having a hard time understanding why someone would follow a reality T.V. show to learn how to rehab properties.  Am I the idiot?  I have a guy here in Chicago who loans money strictly for rehabs and he has rehabbers everywhere and if I were to tell him about this post, I will generate a laugh so loud people in Outer Mongolia would hear it.

Anyway, good luck to you who ever watches and learns from T.V.  Might want to give up while you begin.

Take care all!

[kdhastedt]

<<I'm having a hard time understanding why someone would follow a reality T.V. show to learn how to rehab properties.>>

What's not to understand, Tony?  It's on TV and they wouldn't lie to us...it's easy as cheese..I know -- they said so!

<<Am I the idiot? >>

Did you want us to answer that or was it a rhetorical question?

You did fall for NR...

Keith

[Rich_in_CT]

I'm having a hard time understanding why someone would follow a reality T.V. show to learn how to rehab properties.  Am I the idiot?  I have a guy here in Chicago who loans money strictly for rehabs and he has rehabbers everywhere and if I were to tell him about this post, I will generate a laugh so loud people in Outer Mongolia would hear it.

Anyway, good luck to you who ever watches and learns from T.V.  Might want to give up while you begin.

Take care all!

Smell that?

[flipit]

The shows are for entertainment value just like every other show on TV.  The only way to truly learn is to get out and do it.  Yes you will make mistakes but if you see those mistakes as learning experiences then you have basically paid for an education that you could never get in any school, seminar or reality TV show.  The shows are fun to watch but I would not use them as your primary source of information.  They aren't going to show you all the stuff that goes on throughout the entire rehab behind the scenes - where would the entertainment in that be? ???