These shows are becoming more and more interesting to watch. In the past, the “amateur” invester would buy the house, spend double the original budget and double the time budgeted then sell within a few days and make still make bank. Now the shows feature the same idiots that don’t have a clue and the house sits, and sits on the market and when it finally sells they’re lucky to barely break even.
The Santa Barbara show yesterday: they bought the house for 1.16m put 90k into it and sold for 1.39m. But after all commissions, fees, etc, the 2 couples split something like $38k. Not much reward there for all that risk. And besides, I can’t believe they found someone to pay 1.39m for that place. They really did find the next fool. They got very lucky!!
