These shows are just starting to feel the effects of the bust. Most will be gone in a year.
Actually they won’t, but maybe people will get a clue to what real flipping/rehab is. Basically, many of the shows are going back to following Pros. Teams of people, short times, basic repairs, nothing grandieose.
The one I saw last night as in New Haven, they bought for like $160K, put $30K in over three weeks (new windows, appliances, bath, asphalt drive, landscaping, paint, strip and seal wood floors, tile laminate [cool looking stuff btw, think Pergo but tile], paint throughout etc. 2.5% realtor coop and potentially out.
But basically, all that, for $25-30K profit, for six people, one a Realtor working this and other properties.
