Fix and Flip TV

By
Real Estate Broker/Owner with JT Fleming & Company

Todays TV programming with its love of fixing and flipping is leading some down the wrong path.  When any investor looks into doing a flip they need to look into more than the bland info that HGTV or TLC is providing for programing purposes.  They belief that I hold firm to is that even if you sell wrong (don't get the price you want) it does not matter if you buy right (get properties at a deep discount).  There are many other elements that are basic but are often not discussed on TV but please don not forget them.

  • Carrying cost
  • Brokers fee (appx. 5%)
  • Other closing costs (ie) attorney, tax stamps, liens
  • Permits
  • Taxes
  • Insurance (vacant houses cost more to insure)

These are things you must consider before you attempt to engage the exciting world of flipping homes.  Part two how to choose you flip will be available on Friday October 26

JT Fleming & Company has great lists of fix and flip properties with unique financing options and equity sharing options.   Please call to inquire at 781-239-3281

Comments (6)

» Bill Burress Nationwide Mortgage Originator
» Bill Burress Nationwide Mortgage Originator - Fort Myers, FL

Joseph:

You gotta love it.  Fix and flip a home in a half an hour.

Oct 22, 2007 11:37 PM
Richard Dmochowski
ERA Hemlock Sales Agency - Lords Valley, PA
ABR, CRS, e-Pro, SRES
Thanks for bringing the other factors into the light. Its not as easy as tv makes it.
Oct 22, 2007 11:41 PM
Christopher Smith
TREGO REALTY - Cedar Rapids, IA
Joseph, I agree totally.  The world of TV glamorizes flipping and makes it seem like all glory and dollar signs.  Much more sweat equity and planning goes into the process.
Oct 22, 2007 11:42 PM
Joseph T. Fleming III
JT Fleming & Company - Wellesley Hills, MA
Thanks for the feedback
Oct 23, 2007 12:20 AM
Konnie Mac McCarthy
MacNificent Properties, LLC - Cobb Island, MD
Broker/Owner - VA & MD "Time To Get A Move On!"
My husband and I watch these shows...and wonder when they show how much the people will "make" where these other costs are...they are misleading.
Oct 23, 2007 12:49 AM
Chris Thomas
Keller Williams Realty Louisville East - Saint Matthews, KY
I believe the biggest factor left out in these shows (I like the shows by the way) is the necessity to buy right.  Seasoned investors know they make their profit when they buy.  The hardest part is finding a truly good deal.  The shows show everyone making money.  Just find a house, fix it up, and sell it for a profit.  Right...
Oct 23, 2007 03:13 AM