Flipping

Flip or Flop: What the Flipping Houses Show Keeps Hidden From You

Flip or Flop with Tarek and Christina El Moussa is one of many reality tv shows based on house flipping, which highlight the profit potential of flipping houses without the details.

Flipping houses is highly profitable, but also risky. There are many expenses involved while rehabbing a property, such as monthly loan payments, taxes, insurance, any unexpected expenses above the rehab budget that happen with any flipper. But they don’t provide any of the secondary expenses.

Flip or Flop only provides simple numbers for the viewer such as purchase price and rehab budget. But they don’t provide the line items for the budget, how they financed the flip, or any accessory costs.

The fact that the Flip or Flop show doesn’t provide the expenses for property taxes and insurance makes me believe that they are hiding many other numbers as well.

How do they get financing for the property? If they’re really doing a few deals per year, then that means they could have $1mm+ of cash out in houses at any one time. If they aren’t using cash, then they’re getting the project financed. If they are getting it financed and not providing any of the numbers involved, then they aren’t being transparent.

I’m making this video so that those who watch these Flip or Flop shows can see that they are not explaining the entire process in a transparent manner.

If you’re interested in flipping houses, then find great resources online that provide real account of how to rehab properties, whether the resource is popular podcasts, blog posts, or forums.

Here are the numerous complaints I have with the Flip or Flop shows:
– They do not go in detail about the financing of the property which their viewers need to know if they would like to flip houses as well.
– They do not explain how they found their contractor or how they manage their teams of contractors.
– They do not explain where they get their deals from, whether from the MLS or trusted wholesalers.
– They do not video any moments during the closing process of dealing with an agent or dealing with buyers.
– They aren’t transparent about all of their expenses during the rehab process.
– They aren’t transparent about all of the things that can go wrong during a flip, including any headaches during closes, any hiccups during the purchase process, or any financing issues of the buyer.

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