Flip on the TV, and chances are you’ll find yourself watching a house-flipping show. Not everything about these shows is realistic, but you can still glean some useful tips, no matter how seasoned a house flipper you are. Here are some valuable fix and flip take-aways you can glean from some informed viewing of these shows.
Rely on Your Experience
Part of the fun of watching a show like DIY Network’s “First Time Flippers” is seeing how things go wrong. In a real-life flip, it’s important to make sure everything goes as smoothly as possible.
That’s why these shows about rookie house flippers can be so instructive in showing you common mistakes to avoid and reminding you how important it is to keep expanding your experience and knowledge to ensure a successful flip.
Expect the Unexpected
House-flipping shows are all about the drama—and that means depicting some unusual and even harrowing problems. The team on fyi’s “Zombie House Flipping,” for instance, has dealt with everything from rotting windows to flea infestations to crumbling walls. What these problems illustrate is that you can’t always predict what will happen in a house flip.
Experienced flippers should treat these worst-case scenarios as cautionary tales. Even if you’ve had a dozen consecutive house flips go off without a hitch, there may come a time when you have to deal with the unexpected. That is why it is important to prepare for unforeseen—and sometimes expensive—problems by building a reasonable cushion into your budget.
Go for the “Wow” Factor
Many of the most popular house-flipping shows are built around doing something spectacular. Christina El Moussa of HGTV’s “Flip or Flop” may pull out all the stops and suggest creating a fabulous water feature for a home’s pool area, and why not? It looks great on television. You may not have the budget for such a feature, but you can still do something that gives your property some pizzazz.
Give your home-flip project some heightened curb appeal with expert landscaping and a gorgeous exterior color scheme. Make the kitchen a dream come true with quartz or granite countertops, sophisticated cabinet finishes, and a walk-in pantry. Dial up the luxury in the master bedroom suite with a spacious whirlpool tub. Doing something special will help your home stand out among the other properties on the market so you can sell it in a hurry.
Respect the Power of Teamwork
Tamara Day of DIY Network’s “Bargain Mansions” turns to her dad, Ward Schraeder, for his expertise and advice. Married couple Chip and Joanna Gaines of HGTV’s “Fixer Upper” get through the tough moments of a remodel with their playful banter. And twin brothers Jonathan and Drew Scott make sibling rivalry work to their advantage on their HGTV “Property Brothers” franchise. Even shows featuring novice flippers usually have a team consisting of a husband and wife, two siblings, or two BFFs.
The duo dynamic makes for better TV, but it also makes for a better flip as each team member plays to his or her strength. Good teamwork via a good real estate investment partnership is something non-TV flippers can benefit from as well.
Observe and Learn
TV shows often make house-flipping look easy, but you know better. It takes hard work, knowledge, and special skills. Even so, you can still learn by observing others go through a house-flip process, no matter how experienced or inexperienced they are. From their successes and their mistakes, chances are you will take something away that will help with a flip of your own.
Need Financing for Your Next House Flip?
Borrow Better with 5 Arch