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Thread: Property Ladder - New show on TLC

  1. #251
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    Re: Property Ladder - New show on TLC

    Well, that is pretty darn cheap of them. If they hired actors to do a show they would have had to pay them a pretty penny like upwards of $100,000 per show. Seems like $10,000 should be the minimum for the flippers. For the money Property Ladder gives, I would not do it unless I thought I had something to prove like I could do a better and faster job than anyone in the world and I would like to show my stuff but otherwise to go on TV as a bumbling claud. NO WAY.

  2. #252
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    Re: Property Ladder - New show on TLC

    Quote Originally Posted by johnharlin;2572148;
    Well, that is pretty darn cheap of them. If they hired actors to do a show they would have had to pay them a pretty penny like upwards of $100,000 per show. Seems like $10,000 should be the minimum for the flippers. For the money Property Ladder gives, I would not do it unless I thought I had something to prove like I could do a better and faster job than anyone in the world and I would like to show my stuff but otherwise to go on TV as a bumbling claud. NO WAY.
    I'm sure there are plenty of out of work actors (the most common kind of actor) that would do the show for free, just for the exposure. Fortunately (or unfortunately?) for out of work actors there are union scales and rules that prohibit such. I am sure neither the $1,000 nor the free staging were factors in their decisions to be on the show. Most are likely wanta-be-actors, like Kirsten. I think the staging is provided for dramatic effect, not as an incentive to be on the show, and I think the cost of the staging is more than $1,500.

  3. #253
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    Re: Property Ladder - New show on TLC

    No Property Ladder for 09/15/07. There is a new Flip That House though.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  4. #254
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    FTH - 09/15/07 - Woodland Hills, CA

    Meet Jeff Weaver, newbie flipper. Jeff is in the entertainment business and understands budgets and schedules. He has his friend Jennifer, who is a designer, helping pick out materials for the house. His wife is due soon and Jeff hopes to finish the flip before the baby is born.

    Woodland Hills is 20 minutes away from LA. Jeff bought a 2,400 sf home, 4 bedrooms, 2 batsh for $629,00. His budget is $60,000 and timeline 2 months. At least he is not skimping on the budget or timeline. He bought the house because of the beautiful view outback.

    Jeff spends 3 days demoing himself to save money before he finally hires the contracor he will use. Then he wonders why he bothered. Because the house has a mold problem he and the contractor decide to remove all the drywall and insulation and put in proper ventilation to solve the problem. Dave, the contractor foreman and Jeff butt heads a bit cause Dave has another vision then Jeff and Jeff is a bit of a control freak, still we don't see blow ups but 2 men acting professionally. Dave actually makes some very good suggestions as far as removing the old fireplace as it is in the middle of the huge living a dn dining area. You cannot believe how different the space is without that huge pile of bricks cutting of the view and taking up all that space. That was an excellent suggestion.

    I must say the results speak for themselves. The new kitchen vs the old one is unbelievable. They put light bamboo flooring throughout the house, added a lot of recessed lighting. Cherry cabinets with very clean lines in the kitchen and bathrooms. A nice granite countertop also in the kitchen and bathrooms. This is one of the nicer kitchens I have seen in a while on a lot of design shows. Cherry cabinents, granite countertops and stainless steel are so popular that they are starting to get a bit passe, yet the subtle color combinations between the floor color, cabinent color and stainless steel appliances is what makes this kitchen stand out from others. Many of the other kitchens were very dark, and did not offer enough contrast between the finish colors. The contrast between the three major surfaces is handled so well, that the wall color can be changed quite a few ways and the kitchen will always look good.

    I also like how Jeff updated the look of the house by stuccoing it and painting it. The new door and sidelights were also a plus.

    All in all this is a great example of how to do a flip.

    Stats:
    price: $629,000
    buget: $60,000
    timeline: 2 months
    overage: $70,000
    final budget: $130,000
    final timeline: 2 months
    list price: $939,000
    potential profit: $171,000
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  5. #255
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    Re: Property Ladder - New show on TLC

    9/22-Candy and Craig

    Possibly my favorite Property ladder of Season III.

    I have dealt with people like Candy before. I refer to them as "table pounders". They don't know how to actually do anything, and can offer no constructive inputs. But that doesn't stop them from pressuring people to work faster or harder or smarter or whatever.

    Craig came across as a boob for trusting Candy, who no doubt easily manipulates him for obvious reasons. Craig your a boob.

    Like most episodes of Property Ladder, I am suspect of the final numbers.

    Evidently Candy was a contestant on the Rebel Billionaire.
    Last edited by Marleybone; 09-23-2007 at 08:52 PM.

  6. #256
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    Re: 8/4/07 show comments

    Quote Originally Posted by Bearcata;2508005;
    Memorial, Texas. A suburb outside of Houston.


    (My comments on your post are bolded.)

    Angela:

    this woman is wound so tight that I really thought that she would have a stroke..... She also has a huge chip on her shoulder.

    Angela showed her true self when she said to the HVAC guy..."I'm not going to be living here. Just do as cost effective a fix as possible." Meaning, fix it just well enough for me to get the buyer's money. What a loathesome, chiseling weasel she is.

    I love how Kirsten tells her to check the permits and she doesn't and it bites her in the butt.

    Yes, and wasnt it a pleasure. One only wishes it had taken a lot longer and cost major major bucks.

    Honestly if I heard this woman say one more time she was not stupid and that she would not be ripped off by a male contractor I would scream. I got it. Is that a vein I see throbbing in her forehead???

    Outside of Sergio, this was the most unpleasant, unlikeable flipper ever, IMO. Repulsive.

    Major problem with flooding in the backyard that the landscaper says will cost about $3,000 to fix and she says no cause she is over budget and hopes it will not rain when there is an open house.

    That flooded backyard was the final straw. Hope the buyers see the show and sue her lying, deceitful ass for failing to disclose it.

    The open house was good but after feedback from that the flippers decided to spend the $200 on sod for the backyard. 2 weeks after the open house she got an offer for $511,000 and took it for a profit of $80,000.
    I hated to see her make a dime on it. Angela knew she was going to make good money on this house but she wouldnt spend a few thousand dollars more and do things right.
    Last edited by onewally; 09-24-2007 at 02:56 AM.

  7. #257
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    Re: Property Ladder - 9/22/07 - Craig and Candy

    The flip is located in Toluca Woods, an upper middle class neigborhood 12 miles north of downtown LA. A ranch house built in the 1950's. 3 bedrooms, 1 3/4 baths and a pool. Bought in an online auction sight unseen. Is located next to a noisy school playground.

    Craig and Candy met online, fell in love sight unseen and now are best friends and own a raw food deli together. Craig is a mortgage broker. Candy is a raw food chef. Both are successfull entrepeneurs, but not in real estate. Neither has any construction skills. Craig is leaving the project in Candy's hands as she will be living at the sight. Oh, no comps of the area were done, and no bids taken.

    The house cost $605,000. The timeline is 8 weeks. The budget is $20,000. They want to sell the house for $850,000 for a potential profit of $225,000 even thought the comps for a 3 bedroom 2 bath house in the area averages $788,000.

    Candy wants to gut both bathrooms and only spend $200 in the kitchen. Regarless of the old saying. Kitchens and baths sell houses. They also want to paint the entire house inside and out, refinish the floors and put in new light fixtures and make the pool area look pretty.

    Candy puts an ad on line and spends 3 wks interviewing people and asks her old boyfriend Joe to help her fix the house. He spends about a week doing it for free and needs to go back to Las Vegas to attend to business, and Candy gets mad at him. Finally she asks him to be the general contractor for $10,000 which is half of their budget. At this point a mortagage payment of $4,400 has been made and another is due soon. Thing is Joe has to work around Candy's schedule. She doesn't like it when he turns the electricity off when she needs to cook. She doesn't like it when he is hammering, or sawing, or sanding cause she has a headache and does not feel well. Yet yells at Joe when he does not stop what he is doing to help her. Thankfully at this point Joe leaves for the week. Wk 9 Craig finally shows up (he lives 1 hour away and did not want to compute to the work site) Again it takes Candy 3 wks to find another contractor. Who has the gall to tell her to move out of the worksite because things will go faster if she is not living here.

    Seriously, I cannot believe how imcredibly stupid both Craig and Candy are in dealing with this project. Candy thinks she can batt her eyes and the guys will fall down and do whatever she wants for no money. Also the idea of splashing a bit of paint of a 57 yr old home and turning it around to sell for a $225,000 profit is amazing. People are not that stupid with all the information they need at their fingertips. To ask top dollar for a house you have had to put some quality finishes and craftsmanship into it. They are very, very lucky that they did not lose their shirts on this house. They deserved to as they were both total screwups. As it is they were lucky to get over $100,000 profit for the house. I think in this case they got a very stupid buyer.

    (my vcr messed up the last 20 minutes of the show and I just happened to see the end so I know the house sold and that they did make a profit, but is one reaason why I don't have all the details.)
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  8. #258
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    Re: Property Ladder - New show on TLC

    8/29 property ladder: the Atlatanta Georgia Tripod.

    The producers should have a requirement that the remodeller(s) do at least 60 hours of hands on work themselves. These three did nothing, except dig a small hole in the backyard, which was just symobolic, since heavy equipment was going to be required to dig the foundation hole.

    The film crew was relegated to having to film the contractor all day. All that resulted in very limited entertainment value from this episode. In regard to the blog, posted about previously in this thread, by one of the tripod that bemoans the fact they they were only paid $1,000 (split three ways) plus staging, IMHO they were overpaid.

  9. #259
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    Re: Property Ladder - 9/29/07 - Tripod Investments, Atlanta GA

    3 Buddies want to get rich in the real estate markent and form Tripod Investments and buy there first house. They feel that they have watched enough TV shows and read enough books that they feel they can do this.

    What I like that TLC has done is feature mainly first time flippers in Property Ladder and the majority of the shows are total disasters. What is hysterically funny that the majority of the shows done in California show that the houses do sell, regarless of the mess the flippers create. The market is really crazy out there. The show has also been concentrating in the Atlanta, GA area and the market is softer there and things more hazardous. What I really like about Property Ladder is that it is followed by Flip That House that showcases, experienced flippers and how to do things right.

    Any way back to Dave, Chris and Brian. They bought a house in foreclosure for $146,000. It looks as if it was being flipped and the flipper ran out of money. It is a 2 bedroom, 1.5 bath, home built in 1946. Kirsten thinks it is the perfect flip. Finish up what it there, for about $10 to $15,000 and get out in 30 days. The boys want to tear down walls, remove a powder room, replace the kitchen cabinents put in a new master suite and deck. Kirsten like why go to that extra effort and expense, get in, get out and sell it quick. Fortunately the boys listen to some of her suggestion but refuse to bail on the master suite addition. Seriously, for an older retired person or couple or a young professional the house is OK. Not every house has to be magnificent or huge.
    Anyway by adding the addition the boys created alot of problems for themselves as there is a huge drainage problem in back which results in a 6 wk timeline more then tripling to 19 wks. Also I take it there was no home inspection because they also found major termite damage that needed to be fixed.

    What I don't understand is that for first time flippers why take on a hard project, why make it hard on yourselves? Greed? This was a paint and clean job that at most would have created a problem with termites but they still could have been in and out in 30 days and building experience. These boys really needed to have 5 or 6 projects under their belts before doing additions. That and take a few interior design classes and know how a bathroom should be put together. That master suite bathroom totally sucked. While I liked the color of the granite countertops I would not have put in stainless steel appliances in that small kitchen. The kitchen would have looked larger and one cohensive unit if the appliances were all white. That looked like a total duh moment there.

    While the original budget was $70,000 and timeline 45 days (a little over 6 wks) they ended spending $90,000 and blew the timeline out 5.5 months. They originaly wanted to price the house at $300,000, there are listing it at $299,000. Three realtors assessed the house at $299,000, $275,000 and $269,900. As of this episode the house has not sold and the price has been reduced twice to $279,000.

    Dave Shanahan posted here previously see post #241 and #250. He has not replied to any of my comments in those posts. Here are several links to his blog explaining the flip from his point of view. I don't get the impression that he felt being on reality tv was worth it and considering how much time and effort he and his buddies put in they should have recieved a much higher compensation.

    1st day of filming « David Shanahan

    Back on track « David Shanahan

    Gaining momentum « David Shanahan

    2nd week of construction complete « David Shanahan

    Long days « David Shanahan

    Two steps forward, one step back « David Shanahan

    More problems, more money « David Shanahan

    Fighting fires and hemorrhaging money « David Shanahan

    Investment property update « David Shanahan

    TV show “Flip this House” is not Reality TV. « David Shanahan

    We are almost finished. « David Shanahan

    Open House and Final Day of Filming « David Shanahan
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  10. #260
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    Re: Property Ladder - New show on TLC

    Flip That House - All Stars - Las Vegas

    Meet Glynis Turrentine, we have seen her once before on this show. This is the perfect counterpoint to the Property Ladder episode. She is an experienced flipper who is simply updating the existing features in the house spending about $12,500 and getting out in 2 weeks. The house is in an HOA, it is 1,700 sf, 3 bedrooms and 2.5 baths. It cost $212,000. There was a problem getting out the previous tenants. I wonder why there are not cabinent doors on any of the cabinents in the kitchen and bathrooms. The tenants???

    Anyway Glynis is working with Arcus Contracting. She wants a blonde engineered or laminate floor through out the lower level to make it feel bigger. She is keeping the carpet upstairs, just stretching and cleaning it. Painting the whole interior a neutral shade. She is putting is a nice porcelinn tile floor in the bathrooms and kitchen countertops and butting them together to create very narrow grout lines. She does update the faucets and light fixtures and puts in a french door in the dining area leading to the patio and relandcapes the back.

    It is beautiful to watch her pick her materials and be on site and coordinate 4 or 5 different work crews.

    She lists the house at $305,00 for a potential profit of $80,500. I like how she does explain that out of that profit she does have to pay carrying costs the realtor and taxes. She also notes that because the market has softened you have to do your homework and know your costs and what the market will bear. Basically she is saying, don't get greedy, don't be overly ambitious, know what houses are selling for and don't do too much, but be able to compete with new houses.

    All I can say is congratulations to TLC programming for somehow managing to consistently find episodes week after week that are such counterpoints.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

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