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Thread: Property Ladder - New show on TLC

  1. #261
    Read The Clue Bearcata's Avatar
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    Re: Property Ladder - New show on TLC

    There was a second Flip That House that I have not seen before with Brian and Jennette Fisher. They are an older couple who have obviously been flipping for a while and have their 6 kids help them out. They bought a 1,400 sq ft cottage in Lake Elsinore, CA for $340,000. It has 3 bedrooms and 1 bathroom. They have budget of $20,000 and timeline of 4 weeks. Brian has a vision of restoring the kitchen to a retro 50's look. Unfortunately after the demo in week 3 it turns out that he has pneumonia and goes to the hospital to have his lungs drained. There are complications and Brian dies. By week 7 Jennette and the kids are back on the project trying to finish what dad started. I must admit it is very inspiring watching mom and the kids divide and conquer and do the jobs needed. Again, their kids had their calendars cleared for the 6 week redo and 2 have to go back to school and 1 starts a new job. Jeannette asks for help from all the contractors that she and Brian have used over the yrs and people come to help finish the project. Jeanette does admit that she did not realize the extent of the work that Brian did until this project. A group of faux painters ask to help and do a great job painting the wood beams in the living room, and making the brick fireplace look like field stone. I did like the koi pond they painted on the dining room floor, but some of the other murals on the walls may not appeal to the widest possible market. Still it was beautiful work, although I could do with out the chickens on the kitchen walls.

    The realtor says the house should be listed between $450,000 - $460,000.

    Original stats:
    bought: $340,000
    budget:$20,000
    time: 4 weeks

    Final Stats:
    list: $450,000
    budget: $25,000
    time: 12 weeks
    potential profit: $85,000

    The episode was dedicated to Brian 1947 -2007.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  2. #262
    Read The Clue Bearcata's Avatar
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    Re: Property Ladder - New show on TLC

    No PL on 10/06/07 instead an hour show about 3 different families trying to sell their houses in the current depressed market.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  3. #263
    Read The Clue Bearcata's Avatar
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    Property Ladder - Columbus Day Marathon

    This Monday, October 8, 2007, starting at 9am there will be a Property Ladder Marathon on TLC. This is your chance to watch greedy idiots try to cash in on the "flipping" craze and lose their shirts. Bang your heads against the wall and grit your teeth cause some of the flippers are unbelieveable.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  4. #264
    FORT Fogey Margaritaville's Avatar
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    Re: Property Ladder - Columbus Day Marathon

    Quote Originally Posted by Bearcata;2602319;
    This Monday, October 8, 2007, starting at 9am there will be a Property Ladder Marathon on TLC. This is your chance to watch greedy idiots try to cash in on the "flipping" craze and lose their shirts. Bang your heads against the wall and grit your teeth cause some of the flippers are unbelieveable.
    Thanks for the info!! My TIVO did not pick up all of the Property Ladder episodes for some reason, now I can catch up!

  5. #265
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    Re: Property Ladder - New show on TLC

    There were 2 new Flip That House episodes on 10/06/07. Again the FTH episodes are usually wonderful examples of professionals doing the job. The first episode was in NOHO - that's North Hollywood, were we have already seen several flips. The flippers are Bobby and Christi. They are a married couple and she flips full time. Terribly cute and good looking couple. There flip is a 3 bedroom, 2 bath, 1,200 sf home, they bought for $418,000. The budget is $50,000 and timeline 3 weeks. We also meet Matt of High Rise Construction who is their contractor. The house needs a new roof, new windows. The floors will be refinished. The kitchen is a narrow galley type and they plan opening one wall so the kitchen is open to the rest of the house. New cabinets, appliances and granite countertops. I like how when they demo the kitchen there is evidence of a fire and the entire outside wall and framing needs to be replaced. There is a concrete wall around the property that will be removed and a new wooden fence put up to the edge of the property expanding the backyard by 9 feet. I like how Christi is making her decisions. Repairing the outside of the garage but not drywalling the inside. Make it look good, update it, but not overdo.

    At first Christi and contractor Matt, get along fine but toward the end of the project they argue about the timeline. He verbally promised the job done in 3 to 4 wks but has a contract that says 5 wks. Christi is trying to get him to stick to the verbal part of 3 to 4 wks, because that was her plan. I sorta side with her on this point because that was the assumption why she hired him and I can see putting 5 wks on the contract in case of circumstances, but there are instances were Christie feels the construction crew is slacking due to Matt's 5 wk timeline vs her 3 wk timeline. Matt promised her 3 weeks to get the job and then sorta reneged. Makes you never to want to use that person again as any trust you had initially is gone. After all that arguing I am not what the final timeline was.

    Final stats:
    cost: $418,000
    budget: $60,000 (went over)
    asking price: $599,000 (although the comps are in the $639,000 range)
    potential profit: $121,000

    There really did a nice job on the kitchen, increased the backyard, did a nice job on the 3/4 bath and make the other bathroom a master bath by closing the hall doorway and creating a new entrance from the master bedroom. The finishes are nice. I like how the master closet was so big they were able to make it smaller and added 14 inches to the master bedroom. Very nice renovation.


    The second episode was in Las Vegas.

    Now this was very interesting as the couple Jon and Sandy were a retired attorney and retired finance person. They lived in San Francisco and 4 yrs ago moved to Las Vegas bought a house and renovated it themselves and linved in it and eventually sold it and are planning another flip. I am very impressed with this couple and their craftsmenship. First they look in their late 40's early 50's and they are retired. Yahoo! Then they do an impressive flip of their first home and then to watch the materials go into this home, my mouth was drooling. They are buying directly from China. The entire floor in the house is couved in granite tile. Each slab wieghts in at 80lbs. Vladimir, a Russian craftsman is doing the tile work. They open up one of the kitchen walls and redirect the way the kitchen faces and you have this gorgeous kitchen, dining area and living room. All the doors in the house are these great black frames with frosted glass squares. The couple remodeled the master bathroom and you get this great hers bathroom and closet, an area for the laundry, that leads to his closet and bathroom. All tiles in granite. the finishes in this house are to die for. They have great lighting, main lights and gallery lights for the art on the walls. They also took a small terraced backyard and put in a small pool, that flow into a long deck that runs the length of the house and has french doors opening up to it from the dining room and master suite. Then to top that off the wall of windows in the master suite and living room are bifolding and can be opened up with ease and you have this huge open space right into the garden. What is totally amazing is that Jon and Sandy bought this house for $352,000, it has 3 bedrooms and 3 baths and 2,400 sf and they originally had a budget of $90,000 and a timeline of 3-4 months. Now they saved alot of money because they did the work themselves. Subcontractors are very hard to find in Vegas. They ended up spending $146,000 and the realtor told them that they could list the house for $975,000 for a potential profit of $477,000. Thing is they fell in love with the house and decided to live there instead.

    One small mmmm.... I always read that you should not overdo your house for the neighborhood. Since the neighborhood has a strict HOA the couple could not change much about the outside of the house, which in my opinion is good as because that means when you enter their house the interior is a complete surprise. But there is a huge price discrepency between what they bought and what they could sell it for.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  6. #266
    FORT Fogey Margaritaville's Avatar
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    Re: Property Ladder - New show on TLC

    I watched the episode with Bobby and Christi - and could not figure out what exactly Bobby contributed to the flip. I didn't see him do much of anything except converse and PDA with Christi. Did I miss his contribution?

  7. #267
    FORT Fogey Margaritaville's Avatar
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    Re: Property Ladder - New show on TLC

    The flip in Las Vegas with Jon and Sandy was a bit weird for me. I really doubt they will get that much return on their investment, simply because the buyer for that upscale of an interior usually is not searching for homes in HOA's. I really believe they overdid the house for the market, but thankfully, they want to live in it. It was truly beautiful, and I was very impressed with the kitchen/dining/living room re-do, as well as the granite slab floors throughout. Amazing that they did all of that for only $146,000

  8. #268
    Read The Clue Bearcata's Avatar
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    Re: Property Ladder - New show on TLC

    Quote Originally Posted by Margaritaville;2602503;
    The flip in Las Vegas with Jon and Sandy was a bit weird for me. I really doubt they will get that much return on their investment, simply because the buyer for that upscale of an interior usually is not searching for homes in HOA's. I really believe they overdid the house for the market, but thankfully, they want to live in it. It was truly beautiful, and I was very impressed with the kitchen/dining/living room re-do, as well as the granite slab floors throughout. Amazing that they did all of that for only $146,000
    Remember they did the labor. Labour would be equal or exceed what they paid for materials, especially if they were using top of the line craftsmen. I thnk if they want to do anymore flips they need to do it for the market and not for themselves.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  9. #269
    FORT Fogey Margaritaville's Avatar
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    Re: Property Ladder - New show on TLC

    Quote Originally Posted by Bearcata;2602572;
    Remember they did the labor. Labour would be equal or exceed what they paid for materials, especially if they were using top of the line craftsmen. I thnk if they want to do anymore flips they need to do it for the market and not for themselves.
    But they did pay the russian craftsman to install the granite slabs, right? Did they ever say how much that was?

  10. #270
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    Re: Property Ladder - New show on TLC

    Quote Originally Posted by Margaritaville;2602667;
    But they did pay the russian craftsman to install the granite slabs, right? Did they ever say how much that was?
    They used the russian tile guy and an electrician, probably had a plumber to for specific jobs. They didn't really do a breakdown of the costs. In this particular episode I wish they did post some kind of contact for the Chinese supplier.

    I figure for the electrician, plumber and tile guy anywhere from 20 to 40 dollars an hour. Its hard to judge. I would think to rewire the entire house anywhere from $5,000 - $10,000. Also there was some extensive wire and plumbing in the new master bathroom layout and the kitchen. That's got to be another $5,000 right there. I am sorta basing it on DC prices.
    Last edited by Bearcata; 10-07-2007 at 08:28 PM.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

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