I’ve noticed on Flip This House they often just take the flippers word for it on how much they can sell it for. Such as “Bought for 375,000, 15,000 invested, expect to sell for 450,000, potential profit: 60,000.”
Now, of course “potential profit” doesn’t really mean anything. If I buy a lottery ticket, my potential profit is in the millions!
Still, the shows are interesting. As a non-flipper you can get ideas of what to look for in a house. You can get ideas on what to pay for and what is pretty much just cosmetic. And often times the conversion of the property can be quite striking.
Of course, you can get the same experience from other “House Porn” like “Extreme Makeover: Home Edition” (as an aside, I’m not surprised, but still amused that the spinoff show has far superceded the original “Extreme Makeover”.)
