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Thread: Property Ladder - New show on TLC

  1. #11
    Read The Clue Bearcata's Avatar
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    6/18 episode

    Cousins from Texas, brunnette, Tanya and blonde, Lori, buy a 100 yr old cottage for $52,000 in Columbia, Texas, plan to invest $30,000 in renovations and sell it for $120,000 and do it in 4 months, and then reward themselves by getting breast implants.

    First, I applaud these woman for starting a developement company because they want more out of life, but really both are attractive woman with nice figures they do not need breast implants, that is so shallow.

    Our host thinks they did not put enough aside to renovate but seemed impressed with what they wanted to do. Currently it is a 2 bedroom, one bath house and they plan to add a bathroom. After they do the initial demo, they find that they need to structually reinforce the walls and do some other basic work that will cost several thousand dollars more than they planned. I have watched enough renovation shows to know that older homes always have problems that need to be addressed and you need to budge at least 10 to 15 percent of your budget for the unseen problems.

    I was impressed how hard these 2 woman worked. They were a real team although Tanya seemed to do most of the talking but Lori was the president of the company. They seemed competent and knew when to hire professionals. They did not whine and complain and finagle relatives into being their unpaid labor force. I only saw the husbands twice, once to help move a fiberglass shower and one of the husbands was keeping the books. These ladies really need a better filing system because they lost control over their budget.

    When our host visted she was impressed with what they had done, these ladies were being practical as far as not putting their personality into the house but our host did point our 1 or 2 things , as far as putting in a privacy fence in back instead of spending a lot of money on a vary nice large deck. The view into the neighbours trashy junk filled back yard was not nice. Also it might have been worth spending money on an hour or so of an architects time to figure out the 2nd bathroom. Good advice and the ladies did put in a fence and might use an Architect next time they run into similiar space issues.

    Tanya had a fight with the electrician and he quit but I never figured out what it was about, also there were problems with an across the road neighbor who put up no parking signs the day of the open house but again what was the issue. That was annoying to see that there were problems but not know what they were.

    They had 3 realtors come in and give they opinion of the value of the home. a lot of the people at the open house thought they were asking too much money for the home, but they had to put in another $20,000 for renovations and were still asking $120,000. Some of the realtors also thought they would be lucky to recoup there expenses. That might be high for the area but after all that work it made sense. (At first I thought it was way too high also considering that they bought at $52,000 and were going to ask for more than double the selling price). They got an offer for $119,000 and took it. They made $17,000 before taxes and other fees. Also the ladies did finish renovating within 3.5 months so at least timewise they were on track.

    One thing I did not like was that they had white cabinets in the kitchen and black appliances. Althought they did have black tile counters I would have liked the kitchen much better with white applicances.

    All in all I would have loved to own the place as a starter home, and it did need a garage or a carport to keep off the Texas sun.

  2. #12
    Reality Addict reality_emily's Avatar
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    I was impressed with what these gals did with that cottage, and after watching the high-priced episodes, I was amazed that it only sold for $119K! But then again, this is Texas, not the west coast. I thought it was well done and very appealing, though. I agree that the appliances should have been white, but aside from that, I loved it.

    Isn't it amazing how much location affects the price of real estate, though. 2BR/2BA condo done to those standards (travertine, slate, hardwood, etc) in California would be $300, 400, 500K depending on the area; and I've even seen tiny 2BR/1BA cottages outside Boston going for $400K. Those gals may have picked the wrong area to flip properties in if they want to make money!

    I agree, breast implants is a silly use of their profits. What are they living on? They worked on that property for months and only made $17K (before fees), which they have to split, and presumably put some of it back into the business for their next house. If this is their only job, I guess their husbands are making good money and providing benefits. I had to leave the room a couple of times and missed that they were both married. Good thing!

    Loving this show, though - it's very interesting.

    ~Emily

  3. #13
    Trouble in my life just1paul's Avatar
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    I'm not too sure about the show yet.
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    Dean Martin: No but you can pour it..

  4. #14
    Read The Clue Bearcata's Avatar
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    At the beginning both ladies mentioned that they wer married and had 2 kids I know Lori had a job because she had to go out of town for a week because of her job, I also go the impression that Tanya worked, but it looked as if she was on site full time.

    As far as flipping property you do the best you can where you live. This could possibly be a commuter town since they indicated they were near Houston.

    I would have loved to have either of those bathrooms, all that travetine looks really high end although I would have gone for a seamless shower door the clear look is much better than the metal.

    One thing I find refreshing is that the prices reflect more of middle America then here on the east coast or the west coast where the prices are ridiculous.

  5. #15
    Fashionista Sandinista Chorita KaBoom's Avatar
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    I just started watching this yesterday. I actually like it. The 23y/o with the condo really just wanted me to scream. The Professional Property Developer kept trying to steer her towards simpler changes, yet she kept putting her personal taste into it. She should have first tried just using a belt sander on the stuccoed walls, and when that didn't work, 1/4" drywall sheets are only about $5.00 each. Those walls could have been re-rocked for a couple hundred dollars, and 2 days. Don't get me started on the $400.00 sink, and no washer/dryer. She really had the ultra-inflated California real estate market that saved her.

    The Tattered Hydrangeas were very cute, and I really don't think they need boob jobs. I loved the house that they did, but wouldn't an home inspection prior to purchase have been able to tell them that the features that the wanted to be there, weren't. If they get their paperwork and finances in order, they will do alright. While I didn't really have a problem with the black appliances, but unless there was a major difference in price difference (usually only about $50-$100 more), stainless would have been the way to go. White appliances, even high end ones, usually read to the buyer as budget.
    there is no energy shortage, there is a shortage of imagination

  6. #16
    Read The Clue Bearcata's Avatar
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    [QUOTE=Chorita KaBoom]I just started watching this yesterday. I actually like it. The 23y/o with the condo really just wanted me to scream. The Professional Property Developer kept trying to steer her towards simpler changes, yet she kept putting her personal taste into it. She should have first tried just using a belt sander on the stuccoed walls, and when that didn't work, 1/4" drywall sheets are only about $5.00 each. Those walls could have been re-rocked for a couple hundred dollars, and 2 days. Don't get me started on the $400.00 sink, and no washer/dryer. She really had the ultra-inflated California real estate market that saved her.

    QUOTE]

    Dang, that 1/4" drywall is only $5.00 a sheet?? So if condo girl had done some research and bought what 2 or 3 sheets she would have been done in one day. Put up the drywall tape the edges mud it, sand the next day and then paint. What a concept working smart instead of dumb.

    That's what I liked about the Tattered Hydrangeas they were alot smarter than the real estate guy and condo girl.

    Again, what I like about this show is that they show flipping is not as easy as the informmercials make it to be.
    Last edited by Bearcata; 06-20-2005 at 08:49 AM.

  7. #17
    Lab Eating Man agamergirl's Avatar
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    The only one I've gotten to see is the condo one. I can't believe she took on such a huge project with no experience. I would have been a nervous wreck. And I wonder why she didn't do the washer/dryer hookups? It can't have been that expensive and would have made the condo a lot more desirable. I think she learned a lot on this one. As someone also pointed out, why did she decorate a lot of it to her tastes? I liked it but not everyone would. I think it turned out nice for the most part, though.
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  8. #18
    Fashionista Sandinista Chorita KaBoom's Avatar
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    I finally caught the first one. I wanted to scream at the guy a couple of times. I know that my previous experience in interior design gives me some insight into this, as well as all the interior design TV shows that I watch, but still I'm surprised at how unprepared these people are. While I actually liked the staircase (it added some real architecture to the condo), the money could have been spend more wisely elsewhere (the main bathroom). His smartest move, and one that the flipping expert didn't even suggest was dividing that humongous bedroom into 2 regular sized rooms. That, and again the unbelievable California real estate market are what actually got him his profit. His bait and switch asking price was just sleazy, and unnecessary.

    On a side note, anyone redoing a cottage cheese or popcorn ceiling, save your time and just use the 1/4 drywall. That scraping just ain't worth it.
    there is no energy shortage, there is a shortage of imagination

  9. #19
    Read The Clue Bearcata's Avatar
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    Quote Originally Posted by Chorita KaBoom
    I finally caught the first one. I wanted to scream at the guy a couple of times. I know that my previous experience in interior design gives me some insight into this, as well as all the interior design TV shows that I watch, but still I'm surprised at how unprepared these people are. While I actually liked the staircase (it added some real architecture to the condo), the money could have been spend more wisely elsewhere (the main bathroom). His smartest move, and one that the flipping expert didn't even suggest was dividing that humongous bedroom into 2 regular sized rooms. That, and again the unbelievable California real estate market are what actually got him his profit. His bait and switch asking price was just sleazy, and unnecessary.

    On a side note, anyone redoing a cottage cheese or popcorn ceiling, save your time and just use the 1/4 drywall. That scraping just ain't worth it.
    Yeah, I didn't like that bait and switch either it was sleezy and just the other side of unethical.

  10. #20
    Scrappy Spartan Broadway's Avatar
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    Okay... the show tonight was kind of interesting. I like the end product, but I don't think the guys added $110,000 worth of value into the place. They got lucky, especially after not even beginning on the project for over 5 weeks into their planned 12 week timeline.

    The living room turned out beautiful with the travartine tile and the furniture they chose. The kitchen was just meh. They only managed to paint the cupboards, replace the tile floor and backsplash, replace the oven (gorgeous!) and put in a tiny, tiny refrigerator. I wasn't a huge fan of the bathroom cabinets... very Ikea with the metal see through doors, but at least they went with the built in washer/dryer unit.
    Never let the things you want make you forget about the things you have.

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