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Thread: Property Ladder - New show on TLC

  1. #311
    Read The Clue Bearcata's Avatar
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    Re: Property Ladder - New show on TLC

    Quote Originally Posted by Allie;2665888;
    Thanks, Bearcata. Sounds like both flippers did pretty well. Going over time and budget is normal. Don't they say plan on 10 or 20 percent over on budget for things? The second house had a smaller remodel budget (50k) but it sounds as if they will still make a good profit.
    What amazed me is that they were able to do so much with the budget; Foundation, new roof, new front porch, to die for back deck, new fences, irrigation system and a new garage, all new electrical. Some one has some really good resources here.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  2. #312
    26.2, baby! Allie's Avatar
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    Re: Property Ladder - New show on TLC

    Quote Originally Posted by Bearcata;2665925;
    What amazed me is that they were able to do so much with the budget; Foundation, new roof, new front porch, to die for back deck, new fences, irrigation system and a new garage, all new electrical. Some one has some really good resources here.
    Did they do a lot of their own work? I know labor can kill you on flips and any type of remodeling.

  3. #313
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    Re: Property Ladder - New show on TLC

    Quote Originally Posted by Allie;2666387;
    Did they do a lot of their own work? I know labor can kill you on flips and any type of remodeling.
    While it looked like the husband knew what he was doing, he was the full time on site manager (they both did some demo but after that I don't know all they did was show us contracters) and the wife worked full time. I think he was just smart and had contacts. That can also work and it was a smaller house so they did have less sq footage as far as cabinents and tile. The kitchen and the bathroom were the big interior ticket items. Maybe they keep the garage structure but just put on the double door instead of the 2 singles it had and painted it, that would save a lot of money there, instead of building new. Still I am thinking at least $5,000 for the back deck, $5,000 for the roof, $5,000 for the fencing, $3,000 for the front porch, $3,000 for the electrical. That's $21,000. $5 - $10,000 for the foundation. So we are up to $31,000. $10,000 for the kitchen, $4 - 5,000 for the bathroom. That's $46,000. The floors had to be refinished, painted the house inside and out, and the irrigation system and sod. OK, if they did some of the painting themselves, and some of the deck work it's very doable. Still its times like this I would kill to see the spreadsheet.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  4. #314
    FORT Fogey Margaritaville's Avatar
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    Re: Property Ladder - New show on TLC

    I'm a week late - but here goes.

    New Orleans / Scott and Brandon
    Well done overall, looks very nice - especially liked the curb appeal of the home. Thought that 2000 sq feet of travertine tile was a bit much, but maybe that's just my personal taste as opposed to what sells. I liked the colors in the kitchen, but did not care for the layout. It just didn't flow for me. They started with a pretty much blank slate in there and I thought that it could have been planned out better. Liked the master bath, but did think the tub looked kind of odd shoved into that corner, halfway hidden and in front of a big window. But, overall, a very nice job.

    North Park / Angela and Landon
    He impressed me with his "go with the flow" attitude and his knowledge of what to do and how to get it done. I still don't know what she contributed, didn't really care for her at all. Pick a carpet for crying out loud - it's not your house! And the three colors she was trying to choose between were sooo similar, she was killing me! I agree with you Bearcata, I want to see the spreadsheet on this one - there is no way they only spent 65,000 on it. Not with all that they ended up doing. I did like what they did with the kitchen and the snack bar - it really opened it up.

  5. #315
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    Re: Property Ladder - New show on TLC

    11/17/07 -Flip It Back

    Interesting premise tonight, instead of 2 Flip That House episodes we have 1 Flip It Back. Its a reno (renovation) not a flip per Cable Painter the star of this one hour episode. We are in the Union Hill part of Richmond, VA. At one point an affluent area that has fallen on hard times and is now being restored. The house was built in the 1890's and is considered "Folk Victorian". Now I got this definition from: What are Victorian Houses?, which describes "Folk Victorian" as ...
    and tend to be smaller and simpler than true Queen Annes, built to be affordable for most people. A folk Victorian often centers around a single decorative accent, such as a turret or tower or large bay window.
    I think in this case the decorative feature would be the front porch. Anyway this house is a semi detached duplex and each side is 1200 sf, and has 2 bedrooms and 1.5 bathrooms. It was purchases in 1999 for $11,000. Our restorer plans to invest $219,000 and finish the restoration in 4 months.

    I like how Cable really seems to know the business, learning from his step dad and can also do manual labor. What really impressed me is the pre planning and that he had great resources. He was getting the porch posts redone up in Canada and having new corbell and brackets remilled at a local shop. I must say that the plug to mentioning that Richmond, VA has great wood mills that do wonderful reproduction work due to all the renos that are being done was tastefully done. It was also a nice look into creating a period look. Later I was impressed that Cable was able to further the look and feel of the house thought period lighting, cabinent styles in the kitchen and period switchplates. His dumpster diving was also eye opening, showing that solid wood doors are worth $150-$250 and that Victorian fireplace mantels can cost up to $450. I hate to think what is ending up in our landfills.

    Demo Day, I was a bit worried about demo as one side of the house had been used as a crack house and you could see all these needles and razors scattered everywhere. Again, Cable is on site to save the doors, mantels and other Victorian brick and brac. It is incredible that in 5 hours 20 tons of debris is cleared from the house. All the outside vinyl siding has been removed back to the original cypress clapboards and the interior gutted to the studs.

    Next was the foundation work, leveling the house and replacing old rotten sills. Even as carefull as he was, Cable did not level it perfectly and you could tell it got his goat.

    Then all the electrical and plumbing has to be done. It is about week 5 at this point. Cable mentions that older homes were not framed to take into account modern electrical and plumbering and HVAC and that he has to be creative in how everything is installed. It is at this point in time that Cable notices the foundation is still off by an inck in the kitchen. It had been off by 3 inches before he leveled the foundation.

    At the 2 month mark the front porch is restored and the original tin roof that has lasted over 100 yrs is replaced with another tin roof. It is labor intensive as the company Cable uses still hand seameds the edges.

    There is scene showing Cable picking up a darker prefinished Brazilian walnut floor. The original floor could not be save because squatters and others had started fires on the floors and the floor burned through. Brazilian walnut is very dense and therefore very heavy and one box weighs a 100lbs. Cable was not exactly thrilled about unloaded a filled truck in the Virgiania summer heat.

    The finished product is quite remarkable. I can appreciate the work and vision that go into a house like this and it flows well. But after spending all summer fixing a rotted front porch myself and various other things my builders did not do well i am one for no maintenance materials. Still Cable is doing something he loves and is skilled at is this was a really great episode to watch. Also because of the longer format you could also see more of the ups and downs of the process. The final budget ended up being $234,000 but Cable did finish on time, which amazed me. The realtor that came in to appraise the property was blown away at the restoration and the detail work. What floored me at first was that he said the place could go from $215,000 to $225,000. Huh, Cable lost money on this project. Them I realized that the realtor meant that each unit in the duplex could go for that. Cable is listing the house for $440,000. So minus the $234,000 and the purchase price of $11,000. he could still have a potential profit of $195,000.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  6. #316
    Read The Clue Bearcata's Avatar
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    Re: Property Ladder - New show on TLC

    11/24/07

    Lakewood, CA - Shon Brown - experienced flipper

    It is always a pleasure to watch an experienced flipper take an old house and see potential and make the inside shine. The outside fixes were simple, cleaning up overgrown shrubs and trees, installing new windows and roof, painting the exterior a dark brown. What was amazing was taking out that junker of a fireplace island and reducing it to a managable fireplace. The floors looked great but the kicker in the living room was the steel beam covered with a wood to match the floor. Also liked the bigger kitchen, the mahogany cabinents and very light granite counters. Nice to get away from the standard cherry cabinents. The smartest move was done in the master bedroom with that weird closet island and making a separate walkin closet and a bigger master suite.

    This was supposed to be an 8 wk job. Unfortunately Shon had been injured in Kuwait and had a kidney transplant from his little brother and now his kidney was failing and he needs to be on dialysis 3 times a week 4 hours at a time. So because of his health he decides to put the house on the market as it. The landscaping still needs to be done and Shon decides to do that. The fireplace needs to be finished and the master bath needs a sink.

    This was a 2 bedroom and 2 bathrooms, bought for $650,000. The original budget was $50,000 and ended being $65,000. The realtor appraised the property and Shon decided to list for $650,000 for a potential profit of $55,000.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  7. #317
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    Re: Property Ladder - New show on TLC

    11/24/07

    Van Nuys - Michelle Landers - first time flipper

    What I liked about this show is that both the narrator and the flipper admitted she did everything wrong. She did not have a plan. For example she had the plumbers come in and fix everything and then decides to change were the shower head and sink would go. She just droubled the work and increased doubled the cost for that job. Michele decided to be her own general contractor with no previous flipping or construction experience. She had no idea of the order things had to be done in. How much items cost. The time involved in each stage of construction and no experience scheduling contractors, or getting materials to the job site. The only experience Michele had was friends who had flipped houses and made money.

    This was a 1624 sq ft home, 2 bedrooms, 2 baths. What shocked me was the cost of the house, it was only $350,000, in California, wow that's cheap/inexpensive. The original budget was $35,000 - $40,000 and the timelime was 8 - 10 wks.

    One of the first things Michele did was have the house painted, then some of the stucco needed to be repaired. By week 4 the plumbing had to be redone due to Michele changing the bathroom layout. At this point in the flip it is misscheduled and overbudget. Week 26 the kitchen is installed, she ordered the kitchen cabinents late. Week 30 the bathrooms are tiled. By now she is 150% overbudget. Altogether the budget and schedule have tripled. To avoid bankrupcy Michele moves in. The house still needs some landscaping done and the finish touches but Michelle did do the correct updates. She put her money in the kitchen and bathrooms and they both look great. Love the glass tile in the master bath and the subway tile in the guest bath. The realtor appraised her house at between $519,000 and $525,000. Initially the house cost $350,000, the budget was $85,000 for a total of $435,000. If the house sold for $525,000 she would make a potential profit of $90,000.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  8. #318
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    Flip That House - 12/02/07

    Flip That House - 12/02/07

    All Stars Episode: showing a person who has done a previous episode.

    Stanton, Ca - small town in Orange County

    Julie Hughes - a realtor and part owner with her husband of a surf shop. She previously redid a small townhouse near the beach, I think last yr. Currently she has a 3 bedroom, 2 bath townhouse. 1 car garge. 1276 sq ft. Cost $345,000. Budget $12,000 - $15,000. Schedule 8weeks.

    Julies husband is supposed to help this episode but since it was summer and the surf shop was very busy he did not outside of the demo. The outside of the house cannot be changed due to HOA regulations. She is thinking of changing some of the windows. Scrapping the popcorn off the ceiling. Replacing the carpet with a good laminate wood floor. Replacing all the appliances. She is keeping the cabinents, painting them and putting on new doors, hardware and installing new drawers. The master bath she will just reglaze but will gut the other.

    One thing I like about this flip is that Julie is not making any alterations to walls, doors etc... she is changing finishes. She also seems to have a good crew that she works with that makes it fun. The final product is unbelievable. Just changing the finishes makes a big difference. Yes she ended up replacing all the windows and appliances. All the popcorn ceilings are gone. There is laminate floor throughout the townhouse. The kitchen, both baths and laundry room have new tile floors. There are new (neutral grey) granite counters. The kitchen is totally remarkable. It went from blah to magazine cover. I cannot believe the difference new door cabinents can make. Julies also replaced/upgraded all the light fixtures in the house especially changing out the kitchen flourescent to recessed lighting. What I cannot believe is the change in the bathrooms. Julie put in granite counters, fancy tile floors, new toilets, and faucets. The guest bath is wonderful. I could not believe the tile insets on the master bathroom floor. Oh, lets not forget the crown molding that was installed throughtout. It really stands out against the neutral wall color. I would love to live there.

    Julie did go overboard on her buget but finished in time. The realtor said that there were 3 other townhouses on the market in the area and at the higher end of the market and that was around the $390,000's. The realtor thought that Julie could reasonably sell the townhouse for $410,000. Julies felt that that price would be too high so she put it on the market for $399,000. Her final budget was $22,000. If the property sells she would have a potential profit of $32,000. Julie had the house on the market for 3 weeks with no offers so decided to rent it instead. Smart woman.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  9. #319
    Read The Clue Bearcata's Avatar
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    Re: Property Ladder - New show on TLC

    12/08/07 - Flip That House

    Back in New Orleans. I have a feeling we will be seeing alot of this town for the rest of the season. Nashville and NO seem to be real hot spots this yr.

    The experienced flippers are Alison, a realtor and JP, a general contractor. They have been married 10 yrs and have 2 little boys. I must say they have a very nice relationship between them. Especially as this flip had a lot of problems. You didn't have any yelling or blaming or playing power games. This is a business for them and they have to pull together to succeed.

    The area is called Metaire, LA which is a upper class suburb of NO. Yes, there was flood and wind damage and you can see drywall that has been removed. But that is a good thing because all of the plumbing and electric need to be upgraded anyway. The house is a craftsman style bungalow, which I was surprised to see in NO as I really consider it more of a midwest and LA type home. The house is 2300 sq ft. There have been obvious addtions over the yrs. At least 2 from the look of the back. There are 3 bedrooms and 2 baths. The house cost $305,000 and it is a bit of a mess so it is quite expensive. Alison and JP plan to spend $80,000 fixing it and have a timeline of 4 months. JP is running 3 other projects, but has crews that he trusts so plans to stop by at least once a day to check the progress on the house.

    They knew going into the project that the front rooms needed new subflooring but the problems is more extensive then they thought. The house sits on brick piers and some need addtional shoring, but the house also needs some seriously leveling. In the end the entire house is raised several inches. This project does take 2 to 3 wks to complete and does put them behind on their schedule, especially in regards to the plumbing and electrical. JP ends up doing the electrical himself to save the cost of the hiring a professional, but is takes him 3 times as long to do the work. All this add to the budget and time to the schedule. I did like the fact that they made the master bath larger. Alison is smart and uses seller's khaki tan for the walls and stays with the neutrals for the tile. She did add a nice splash of either green or blue onyx tile in the master shower. The kitchen did surprise me. They installed a huge wall of windows overlooking the yard. The cabinents were an off white and was the stove hood. They seem to like those huge "french" style hoods. Stainless appliances of course. Nice tile backsplash but absolutely no contrast to the cabinents. The granite counters in an oatmeal with small splashs of black look good. While the house had nice high cielings and beautiful crown molding, the off black cypress floor laid out through out the house really is a defining feature. The floors and the kitchen will sell that house. They are about a 1 month behind and almost $10,000 over budget. During the realtor's walkthough she mentions that she can really tell that the house is level, where it had problems before and that Alison are smart putting their money in the kitchen and bathrooms. She suggests that the house can be listed as high as $500,000 and as low as $445,000 to $455,000. Alison and JP decide to list the house for $500,000 minus a final budget of $87,000 and a potential profit of $108,000. There is a note at the end of the show saying that Alison and JP took the house of the market and moved in.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

  10. #320
    26.2, baby! Allie's Avatar
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    Re: Property Ladder - New show on TLC

    Quote Originally Posted by Bearcata;2713461;
    There is a note at the end of the show saying that Alison and JP took the house of the market and moved in.
    Hmmm. That is the first time I've heard of that. I think I remember one person saying they put the house up for rent.

    Wonder if they didn't think they could sell it or they fell in love with it? Or they decided they could make more money by selling their current home instead????

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