Great job waiting!!!! My wife and I were watching this exact episode and I said they should have to go back and show what they really sold it for in later episodes, but I guess at 60+ days on the market, it wouldn’t make this season!
PerryChase, you’re missing out on these shows, they’re great! Somebody buys a fixer upper that you think they bought for about $400,000, but then you find out they paid more like $600,000. They fix up the kitchen with, guess what, stainless and granite! They point around alot and show some contractors sawing. The house either looks pretty cool at the end, or has some whacked out design. Either way a realtor comes in and says how great it looks. Then the realtor says I think it’ll sell right away for $4.8 million dollars.
Then at the end they state the figures like the place is already sold:
Cost of house: $600,000
Fixup costs: $55,000
Listing Price: $4,800,000
Time to fixup: 3 weeks
Potential Profit: $4,145,000
I’m exagerrating a bit here, but not much. If you’re pessimistic, you’ll think that these people are crazy, if your an optimist, you’ll be writing your resignation letter to your boss and calling a broker to get an Option ARM so you can make your millions flipping.
