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"Flipping Out"'s Jeff Lewis must have flipped out now that he's in escrow

Like one who reluctantly watches an accident, I occassionaly watch "Flipping Out" on Bravo TV.

"Flipping Out" features a mean spirited, obsessive-compulsive house-flipper, Jeff Lewis.

With a depressed real estate market prevailing, Jeff Lewis is now handling large remodelling projects for clients. He does however, still have a Los Angeles property that he and his business partner - Ryan Brown - purchased in March 2007 for $1,710,000, remodeled, and are now trying to sell.

This property on Valley Oak Drive in Los Feliz was originally listed in April 2008 for $3,195,000. In May it was reduced to $2,995,000, was further reduce to $2,795,000 in June and in July was finally reduced to $2,595,000. That's a reduction of almost 19% of the original Listing Price.

It appears that it's now in escrow since the MLS indicates the status as "Looking for Backup".

What I find interesting as a Broker is that according to the MLS, the Agent who orginially sold the property to Jeff Lewis & Ryan Brown is not the same Agent that's Listed the house For Sale.

I wonder what that means ....? (Just being curious)

Posted by Stewart Penn - West Hollywood Condo Specialist on 07/25/2008 01:35 PM

Comments (19)

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19 Comments on "Flipping Out"'s Jeff Lewis must have flipped out now that he's in escrow

Stewart, I don't have a clue why this agent was chosen to list the house. But 18 month, on a $1.7 million purchase plus remodel expenses sound like a loonnnnngg time to have your money tied up. Doesn't look like anything will be made on this flip.

07/25/2008 01:53 PM

by Jimmy McCall~Clarksville's Mortgage Consultant (Legacy Mortgage Services, Inc. ~ Clarksville, Tennessee)

I have seen this show and he is definitely a high maintenance flipper.. does he really need a house manager, house asst , exec asst and a housecleaner for 1 man?? I think he just fired the house mgr though.

07/25/2008 02:04 PM

by n d (Naoma Doriguzzi)

He did fire the house manager .... he saw him on his computer after he'd installed a camera in the office.

07/25/2008 02:11 PM

by Stewart Penn - West Hollywood Condo Specialist (Penn Properties)

Funny I have been thinking about this show recently ~ as we just Staged a home in Los Feliz, flipped-remodel (but not for Jeff Lewis) Listed at $1.99, sold the 1st week w/ all cash offer at $..... =) We just unloaded it this morning, it closes escrow 7/31

07/25/2008 03:56 PM

by Connie Tebyani, Platinum Home Staging Serving Los Angeles and Ventura Counties (Platinum Home Staging, Inc.)

Flipping in that price range. Ouch!! Here folks scramble in the 40-50k price range. I guess Location,location,Location trumps everything.

07/25/2008 04:34 PM

by Robert L. Brown~Grand Rapids Real Estate Flexit Realty, West Michigan (www.mrbrownsellsgr.com)

Good for him! Reducing a house like that is very tough. The buyers must be ecstatic about the deal they are getting. By that I mean you get a guy who does a top notch remodel on a house that he got a good buy on. I think they'll be sitting in a good position on that house.

07/25/2008 04:42 PM

by Rob Gerichs (RE/MAX Honolulu)

This guy has some serious problems. Though I think much of his behavior is for the camera. Also, if it were not for the camera I doubt that any of his clients, friends, colleagues, employees, etc would stay with him. Funny how he expects everyone to put up with his eccentric ways, but when he gets an employer who is off the wall, he goes ballistic and cannot understand how they can behave that way and why he should have to endure it. Personally I hop that Bravo puts this dog of a show to sleep soon. Good thing I am not dating him. I would sedate him as heavily as I could. Isn't that why god made Valium? :)

07/25/2008 08:35 PM

by John Elwell (CENTURY 21 Bill Nye Realty, Inc)

"Reality TV" is an oxymoron. Almost as good as "Jumbo Shrimp"... but less tasty with coctail sauce! :)

07/25/2008 08:41 PM

by Steve Shatsky - Dallas Real Estate & Short Sale Specialist (Keller Williams-Dallas City Center)

Connie - shhhh about the price, until escrow closes

Robert - That's what they say about Real Estate - The three most important things: Location, location, location ....

Rob - Who knows what's good value in this market :)

07/25/2008 10:41 PM

by Penn Properties - Los Angeles Real Estate

John - He does seem to be "over the top" in a not-so-nice way.

Maybe that's why Ryan and he are now just busines partners ....

Steve - It's true. There's no such thing as reality TV. It's all staged.

07/25/2008 10:47 PM

by Penn Properties - Los Angeles Real Estate

Love The Show, My Favorite was when he had his Cat (Monkey) have accupuncture - ever stick needles in a cat.

I agree he would not be the type of person that I would want to spend time with

07/26/2008 12:48 PM

by Jane Wallace CRS, Denver Real Estate (Kentwood City Properties)

This post certainly gives us cause to pause :

for Kharma

Maybe being nice is not so bad?

07/26/2008 01:26 PM

by Jim Fischetti (The Fischetti Group/Keller Williams)

Jim - I totally agree. One can do things in a nice or not so nice way. Nice is better!

07/26/2008 02:24 PM

by Stewart Penn - West Hollywood Condo Specialist (Penn Properties)

Hey Stuart, Not sure if that show really helps or hurts Jeff or for that matter who would want to work for him. But, we all know these "reality" shows have scripts so with that being said... perception is reality for the viewers!!

07/27/2008 09:03 PM

by Jennifer Ricco e-PRO,WCR,QSC, Retired LAPD (Keller Williams VIP Properties)

I think it's a great show. And obviously he has a lot of followers. I laugh every time I see it. Entertainment at it's best. :) He's crazy alllllll the way to the bank. Oh, wait. He doesn't go to the bank himself. lol

07/27/2008 09:11 PM

by Cyd Weeks Realtor® Palm Coast, Fl (Realty Exchange, LLC)

As a dedicated follower of the show, my...um ...friends say... uh that he has two Realtors who he uses on a regular basis; realtor Carol, and someone else. If it weren't for the commissions, I am sure everyone would dump him.

But...uh...hey, Jeff, if you are reading this, we have alot of great investment opportunities up here in Vancouver, Washington. Call me! lol

mark hall vancouver wa real estate www.ernw.org

07/27/2008 10:38 PM

by Mark Hall Vancouver Washington Real Estate (Elite Realty NW - Keller Williams, Vancouver Washington)

It means that you are correct that he may be a "mean spirited, obsessive-compulsive house-flipper" and what usually goes with the territory is a cocky attitude that borders on arrogant. Sometimes it catches up with them.

Great post and thanks again!

07/28/2008 09:38 PM

by Russell Lewis, Broker,CLHMS,GRI (AvenueOne Properties, Inc.)

Did anyone see Jeff Lewis on Larry King (CNN) last night?

Is the guy schizophrenic? He was a completely different person on CNN.

07/31/2008 10:18 AM

by Stewart Penn - West Hollywood Condo Specialist (Penn Properties)

love love love this show ....... love love love Jeff Lewis

08/02/2008 07:08 AM

by susan

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