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IS A RISKY BUSINESS.
(Christina) AAH!
I'M TAREK. THIS IS MY WIFE, CHRISTINA.
NICE TO MEET YOU.
EVER SINCE THE MARKET CRASHED, IT'S BEEN A ROCKY ROAD.
WITH A FAMILY TO SUPPORT, WE'RE STARTING A NEW BUSINESS,
AND WE'RE FLIPPING FORECLOSURES.
WE BUY HOUSES FOR CASH, SIGHT UNSEEN.
SOLD! YOU BOUGHT IT.
SOME OF THE HOUSES WE BUY ARE EASY FIXES...
SEE? I DID A GOOD JOB.
(Christina) IT'S ACTUALLY NOT TOO BAD.
...BUT OTHERS ARE TOTAL TEARDOWNS.
OOH!
I'M NOT GOING IN THERE.
AND YOU NEVER KNOW WHAT YOU'VE BOUGHT
UNTIL YOU WALK THROUGH THAT DOOR.
OH, MY GOD.
YEESH.
-- Captions by VITAC --
Closed Captions provided by Scripps Networks, LLC.
(Taylor crying)
I DIDN'T HEAR YOU CRYING. GOOD MORNING.
(chuckles) THERE HE IS.
WHAT?
89 PROPERTIES GOING TO AUCTION TODAY IN ORANGE COUNTY.
89.
(Tarek) THIS IS THE CRAZIEST HOUSING MARKET IN DECADES.
BUT IN ALL THE TURMOIL, I JUST SEE OPPORTUNITY.
A YEAR AGO, WE BOUGHT A FORECLOSED CONDO AT AUCTION,
FLIPPED IT, AND WE MADE 20 G's IN 30 DAYS.
SINCE THEN, WE FLIPPED FOUR MORE PROPERTIES,
EACH BIGGER THAN THE LAST.
THE HIGHER THE STAKES, THE BIGGER THE REWARD.
DON'T BID. THAT'S TOO HIGH.
BUT BUYING FORECLOSURES AT AUCTION IS INSANE.
THE LIST COMES OUT THREE HOURS BEFORE THE AUCTION,
AND THE RACE IS ON TO FIND OUT ANYTHING WE CAN
ABOUT THESE PROPERTIES.
AND ON TOP OF THAT, YOU HAVE TO PAY FOR THESE HOUSES IN CASH.
OKAY, SO, HONEY, WHAT ARE WE SAYING?
WE'RE SPENDING ABOUT A QUARTER MILLION DOLLARS ON IT?
ARE YOU SURE YOU WANT TO RISK THAT MUCH MONEY.
I MEAN, WE'VE MAXED OUT ALL OUR CREDIT CARDS.
WE BORROWED AGAINST OUR RENTAL PROPERTY.
I DON'T KNOW. IT'S JUST REALLY SCARY.
WELL, WHAT'S THE WORST THAT CAN HAPPEN?
WE LOSE IT ALL?
WE'RE PUTTING OUR ENTIRE LIFE'S SAVINGS INTO FLIPPING HOUSES,
AND NOW THAT I'M A DAD, THE PRESSURE IS REALLY ON.
IF IT DOESN'T WORK OUT, MY FAMILY'S IN BIG TROUBLE.
MMM.
(Tarek) EVERY MORNING, WE HAVE A THREE-HOUR WINDOW
TO DRIVE TO THESE PROPERTIES AND MAKE A DECISION
WHETHER WE WANT TO BUY THEM AT AUCTION OR NOT.
(coos)
(Christina) AH-CHOO!
READY? YEAH.
(Tarek) OUT OF 89 PROPERTIES GOING TO AUCTION TODAY
IN ALL OF ORANGE COUNTY,
THERE'S ONLY ONE THAT LOOKS PROMISING TO US.
THERE SHE IS.
STRAIGHT AHEAD.
THE OPENING BID ON THIS ONE IS $265,000.
I'LL GUARANTEE THE HOUSE DOESN'T NEED A LOT OF WORK.
WE'LL SEE.
THERE'S NO WAY SOMEONE WOULD TAKE CARE OF THE FRONT LIKE THAT
AND RUIN THE INSIDE.
ARE YOU GONNA TRY TO BREAK IN?
I'M NOT GONNA BREAK IN.
HANG TIGHT. DADDY WILL BE RIGHT BACK.
WE NEVER GET TO SEE THE INSIDE OF THESE PROPERTIES
BEFORE WE BUY THEM AT THE AUCTION,
SO WE HAVE TO GUESS HOW MUCH WORK'S GONNA BE NEEDED
JUST BY SNOOPING AROUND THE OUTSIDE.
(Christina) TRY TO GO AROUND BACK. HOP THE FENCE.
THE NEIGHBORS CAN CALL THE POLICE.
CAN YOU BREAK IN THROUGH A WINDOW?
HOW DOES IT LOOK?
I CAN'T TELL.
WHAT?
THERE'S AN EMPTY POOL BACK THERE, WHICH IS TERRIBLE NEWS.
ARE YOU KIDDING ME?
YOU KNOW WHAT IT COSTS TO FIX A POOL?
OH, I WOULD LOVE TO HAVE A HOUSE WITH A POOL.
EVERY BUYER DOES.
POOL OR NO POOL, $265,000 IS A SMOKING DEAL FOR THIS HOUSE.
I THINK WE CAN SELL IT FOR AT LEAST $350,000.
THAT GIVES US A LOT OF PADDING,
CONSIDERING WE DON'T KNOW HOW MUCH WORK IT ACTUALLY NEEDS.
OKAY, SO WE'RE GOING TO THE AUCTION.
OUR ABSOLUTE MAX BID IS WHAT, HONEY?
$268,000 MAX.
DON'T GO OVER.
WHAT IF IT SELLS FOR $269,000?
OVER $1,000, WE'RE LOSING THIS HOUSE.
THE MAX IS $268,000. ARE YOU LISTENING?
YEAH. FINE.
SERIOUSLY, YOU ALWAYS DO THIS.
(Taylor coos)
THIS BETTER BE A GOOD DEAL.
WE'RE GONNA SELL HOUSES TODAY.
THIS PROPERTY IS 3 BEDROOMS, 2 BATHS, 1,700 SQUARE FEET.
THIS IS THE ONE.
DON'T FORGET ABOUT $268,000, SERIOUSLY.
Weiler: THE OPENING BID IS $265,000.
ANY OPENING BIDS AT $265,000?
$100.
(Weiler) $265,100.
$266,000.
$266,000.
THAT'S WHAT YOU DO. KNOCK THEM OUT.
I GOT $267,100.
$268,000.
$269,000.
(Christina) $268,000 is our max.
$270,000 IS THE BID. NOW GO $271,000.
(scoffs) OH, GOD.
WE AGREED THAT $268,000
WAS THE HIGHEST WE WOULD GO FOR THIS HOUSE,
BUT WHEN TAREK GETS INTO A BIDDING WAR,
ALL RATIONAL THOUGHT CEASES TO EXIST.
$272,000.
$100.
$272,100.
$273,000.
HUNDRED BID, NOW GO TWO.
$274,000.
$100 IS THE BID. KNOCK HIM OUT, SIR.
$275,000.
NOW IT'S $275,000. NOW BIDDING ONE. SAY ONE.
ALL THROUGH? ALL DONE? YOU'RE OUT?
FINISHED?
$275,000. ANY MORE?
SOLD.
YOU BOUGHT IT.
ALL RIGHT.
THAT'S $7,000 MORE THAN WE PLANNED ON SPENDING.
I CANNOT BELIEVE YOU WENT ABOVE THE BID AGAIN.
WHAT? WE GOT THE HOUSE.
I THINK WE'RE GONNA MAKE SOME MONEY.
ALL RIGHT. MOMENT OF TRUTH.
(Tarek) WE OWN THIS HOUSE. BOUGHT IT FOR $275,000.
GOOD OR BAD, WE'RE ABOUT TO FIND OUT.
(Christina) HOW'S IT LOOK?
THE FLOOR IS NICE.
LOOK AT IT. SEE? I DID A GOOD JOB.
WHAT DO YOU THINK, TAYLOR?
IT'S ACTUALLY NOT TOO BAD. HAS A NICE VIEW.
OH, GOD.
LOOK AT THE KITCHEN.
THAT'S AN EASY FIX. $2,500.
GOD. YOU ARE JUST ALWAYS CRAZY WITH YOUR NUMBERS.
LOOK WHAT WE'RE ABOUT TO WALK INTO.
OH, THIS IS NASTY. WATCH YOUR FEET FOR NAILS.
WHAT IS IT? (gasps)
OH, MY GOD. HEART ATTACK. OOH!
OOH!
I'M NOT GOING IN THERE.
OH, I'M TURNING RED. THIS IS NO BUENO.
THIS IS THE MASTER BATHROOM, HONEY.
THE MASTER BATHROOM IS SMALL.
IT NEEDS TO BE COMPLETELY REHAULED.
WE NEED TO TAKE DOWN THE LAUNDRY ROOM
AND MAKE IT INTO A BIG MASTER SUITE.
PROBABLY BE, LIKE, 3,000 BUCKS TO DO THAT.
$3,000? I THOUGHT YOU WERE GONNA SAY, LIKE, $10.
TAREK AND I ARE NEVER ON THE SAME PAGE WITH NUMBERS.
HE UNDERESTIMATES EVERYTHING,
AND IT ALWAYS ENDS UP AT LEAST DOUBLE.
THIS YARD IS A MESS.
I LOVE THE POOL. THAT'S, LIKE, A PERFECT SHAPE.
GET OUT OF HERE. THE THING'S TERRIBLE.
IT'S A BEAN-SHAPED POOL FROM 1960.
I THINK IF WE DO THE POOL, WE GET ALL OUR MONEY BACK.
NO WAY.
(Tarek) THIS PROPERTY CAN GO EITHER WAY.
OVERALL, I THINK IT'S A GOOD BUY.
WE HAVE A NICE VIEW.
WELL, IF WE PUT $25,000 INTO IT --
NO, $65,000-PLUS.
FOR $65,000, YOU COULD REBUILD THIS STUPID HOUSE.
IF WE PUT 25 TO 30 GRAND INTO THIS HOUSE,
WE'D HAVE TO SELL IT IN THE $320,000s
JUST TO BREAK EVEN.
COMPARABLE PROPERTIES IN THE AREA
ARE GOING FOR QUITE A BIT MORE THAN THAT IF THEY'RE UPDATED.
WHEN YOU'RE IN THE FLIPPING GAME,
SPEED IS OF THE ESSENCE,
SO YOU HAVE TO HAVE A CONTRACTOR THAT CAN START RIGHT AWAY.
THERE HE IS. WHAT'S UP, BOSS?
YOU MADE IT. THREE HOURS. I LOVE IT.
THIS IS MY WIFE, CHRISTINA.
HI.
AND THAT MUST BE THE LITTLE ONE.
HI.
NICE TO MEET YOU.
THEY'VE HAD A ROUGH, LONG DAY, SO THEY'RE HEADING OUT,
AND WE ALREADY CAME UP WITH ALL THE DESIGN THINGS,
SO WE'LL TALK ABOUT IT WHEN WE GET INSIDE.
COOL.
BYE.
BYE, DADA.
WHEN YOU'RE DEALING WITH CONTRACTORS,
YOU HAVE TO KEEP YOUR GAME FACE ON.
IF YOU SHOW ANY WEAKNESS, THEY'LL WALK ALL OVER YOU.
I'M GONNA TAKE THE BEST PRICING AND GO WITH THAT BID.
KEEPING COSTS DOWN
IS THE ONLY WAY FOR CHRISTINA AND I TO MAKE ANY MONEY.
WHAT DO YOU THINK THAT RUNS?
$3?
I NORMALLY PAY $2.50.
MY FRIEND HAS A FLOORING COMPANY.
DO YOU CARE IF I SUB OTHER WORK OUT
WE CAN WORK IT OUT.
I WANT TO BLOW THIS WALL OUT RIGHT HERE.
WHAT DO YOU THINK THAT'S GONNA RUN?
I'LL TAKE SOME MEASUREMENTS AND GET BACK TO YOU.
MAKE THIS LOOK BRAND-NEW. HOW MUCH DO YOU THINK THAT'S GONNA RUN?
ARE YOU GONNA PIECE ME OUT FOR EACH ONE,
OR YOU WANT ME TO COME BACK TO YOU WITH SOME REAL NUMBERS?
(Tarek) SO, HERE'S THE KITCHEN.
ALL NEW CHERRY CABINETS, GRANITE COUNTERS WITH THE BIG ISLAND.
WHAT IS THAT GONNA RUN ME?
YOU'RE PROBABLY LOOKING AT 3 GRAND IN GRANITE.
1,600 BUCKS?
YEAH. I DID MY LAST TWO JOBS --
ONE FOR $1,100, ONE FOR $1,400.
HOW MANY SQUARE FEET OF GRANITE YOU THINK YOU GOT HERE?
DOUBLE.
THAT'S IMPOSSIBLE. IT'S NOT THAT BIG.
LOOK HOW BIG THE ISLAND YOU HAVE.
OKAY.
SO, THE MAJOR PROJECTS IN THIS HOUSE
ARE KNOCKING OUT A WALL TO CREATE A GREAT ROOM,
A TOTAL RENOVATION IN THE KITCHEN AND MASTER BATHROOM,
AND FILLING IN THE EMPTY POOL AND COVERING IT WITH GRASS,
WHICH I'M GOING TO TAKE CARE OF WITH THE HELP OF MY FRIENDS.
HERE'S MY CONCERN.
MY LAST CONTRACTOR SAID 30 DAYS, AND IT TOOK THREE MONTHS.
THE MARKET SHIFTED, AND I LOST MONEY.
AS LONG AS YOU STAY OUT OF MY WAY -- 30 DAYS.
(Tarek) LOOK AT THAT.
ON TIME ON DAY 1, A CONTRACTOR THAT SHOWS UP.
(Christina) THE BID CAME IN -- $42,000. IT'S MORE THAN TAREK THOUGHT.
IT'S LESS THAN I THOUGHT, SO I'M HAPPY,
AND I'M READY TO GET THE PROJECT GOING.
(Tarek) WE PAID $275,000 FOR THIS HOUSE, AND WE'RE PUTTING $42K INTO IT.
WE HAVE TO SELL IT IN THE HIGH $330,000s JUST TO BREAK EVEN.
FROM THIS POINT ON, EVERY PENNY COUNTS.
I'M GONNA SAVE MONEY BY FILLING IN THE POOL
WITH THE HELP OF MY FRIENDS.
(horn honking)
RIGHT NOW, WE'RE FILLING THE POOL.
AS YOU CAN SEE, WE HAVE THIS BIG HOLE.
AND IT WOULD COST I DON'T KNOW HOW MANY THOUSANDS OF DOLLARS
TO GET RID OF THIS THING.
AND THIS DEBRIS ALONE, I DON'T KNOW HOW MUCH IT WOULD COST.
PROBABLY A COUPLE GRAND,
'CAUSE WE HAVE PROBABLY A COUPLE TONS OF BRICK AND ROCK.
SO, IT'S ALL GOING IN THE POOL.
WE'RE GONNA FILL IT AND BE DONE WITH IT.
LAY GRASS, CALL IT A DAY.
BIG ONES!
HEY! HEY! HEY! HEY! HEY! HEY! HEY! HEY!
WHAT'S UP, MAN?
IT'S NOT THE RIGHT WAY, TAREK. NOT THE RIGHT WAY.
WE GOT TO PUT ALL THIS CRAP SOMEWHERE.
WHAT HAPPENS TO THE NEXT OWNER THAT WANTS TO BUY IT
AND WANTS TO BUILD ON TOP OF THIS?
IT'S NOT GONNA BE RIGHT. YOU'RE GONNA GET SUED.
WELL, YOU'RE TELLING ME WE GOT TO TAKE THE WHOLE POOL OUT, ANYWAYS?
NONDISCLOSURE!
IN OUR PAST HOUSE FLIPS, I NEVER HAD TO DEAL WITH A POOL.
I THOUGHT I COULD SAVE SOME MONEY HERE
AND FILL IT IN WITH ALL THIS RUBBLE,
BUT THE CONTRACTOR'S TELLING ME
WE HAVE TO FILL IT IN WITH DIRT, INSTEAD,
AND THE CONCRETE HAS TO BE REMOVED, TOO.
WELL, HOW MUCH IS THAT GONNA COST?
IT'S GONNA COST A LOT OF MONEY.
IT KILLS ME TO HAVE TO DO THIS, BUT I DO SEE HIS POINT.
YOU KNOW, IF THE WORK'S NOT DONE TO CODE,
I WON'T BE ABLE TO SELL THE HOUSE, ANYWAYS.
WE'RE SEVEN DAYS INTO THE PROJECT,
AND THE HOUSE LOOKS LIKE A WAR ZONE.
THE KITCHEN'S BEEN DEMOLISHED. THE MASTER BATH IS GUTTED.
THE LIVING-ROOM WALL IS GONE, CREATING A GREAT ROOM.
AND THE POOL CONCRETE'S BEING REMOVED
AND HAULED AWAY BY TRACTORS.
WITH THE BUDGET GOING THROUGH THE ROOF,
WE'VE GOT TO SAVE SOME MONEY ON THE BATHROOM AND FLOOR TILE.
LOOK, SPECIALS ON SALE.
OH, GOD.
(Christina) OF COURSE, WE'RE IN A BEAUTIFUL TILE STORE
AND MY HUSBAND WANT TO GO STRAIGHT TO THE BACK WAREHOUSE
WITH ALL THE DISCOUNT STUFF.
SECOND-CHOICE MATERIAL.
$1.99 A FOOT?
COME ON. THERE'S HOLES IN IT.
TERRIBLE.
IT'S SO AWFUL.
SO, WE'RE GETTING SOMETHING FROM HERE.
NO, OKAY, LET'S JUST GO BACK INSIDE. HONESTLY?
THAT'S REALLY NICE.
I KIND OF LIKE THAT LOOK IN THERE.
(sighs) HOW MUCH IS IT?
DAMN, LIBERACE.
OKAY, THIS ONE'S OUT.
BUT THE THING IS, IS WE CAN'T JUST GO HALF (bleep)
LET'S KEEP LOOKING.
SEE. NOW, THIS IS NICE. LOOK. ALL NEUTRAL.
OF COURSE IT'S NICE. $1.29.
(sighs)
COLOR-WISE, I REALLY LIKE THAT ONE RIGHT THERE.
DO YOU LIKE THAT ONE?
WHEN YOU'RE FLIPPING HOUSES,
YOU'VE GOT TO STAY IN A NEUTRAL COLOR PALLET.
ANYTHING WITH TOO MUCH PERSONALITY
MIGHT TURN OFF POTENTIAL BUYERS.
AND BY COMBINING THIS INEXPENSIVE BASE TILE
WITH AN ACCENT TILE THAT IS A LITTLE MORE PRICEY,
THE EFFECT IS EXPENSIVE-LOOKING TILE WORK ON THE CHEAP.
PERFECT. YAY.
CAN I GET A DISCOUNT?
A LOT OF COOL THINGS HAPPENING IN THE KITCHEN TODAY.
WE'RE BUILDING THE CABINETS RIGHT NOW,
AND WE'RE GONNA BE INSTALLING THEM.
THEY'RE FABRICATING THE GRANITE IN THE GARAGE RIGHT NOW,
AND IT'S REALLY COOL TO SEE IT ON SITE.
NICE.
WE PAID 3,600 BUCKS FOR THIS GRANITE,
BUT THE LIGHT-COLORED COUNTERS
ARE REALLY BRIGHTENING UP THE KITCHEN.
AND A BIG ISLAND LIKE THIS IS A HUGE SELLING POINT,
BECAUSE BUYERS ARE LOOKING FOR OPEN AND AIRY KITCHENS
THAT ARE GOOD FOR ENTERTAINING.
OH, THAT LOOKS AWESOME WITH THE OPENING.
Messina: OKAY, SO...
YOU KNOW, WE OPENED IT UP.
WALL'S OUT.
THERE USED TO BE A SMALL DOOR TO THE BATHROOM
IN THE MIDDLE OF THE BEDROOM WALL.
WE MOVED IT TO THE RIGHT AND WE MADE THE OPENING LARGER.
WE'RE NOT GONNA PUT A DOOR HERE
TO MAKE THE MASTER SUITE APPEAR BIGGER.
NO DOOR ON THE MASTER BATHROOM.
IT'S A RISKY MOVE, BUT NO RISK, NO REWARD.
(Tarek) WE'RE GONNA BE DONE IN FIVE DAYS, HUH?
YEAH, RIGHT. IT'S LIKE A MOUND.
THEY'RE STILL FILLING THE POOL.
APPARENTLY, THREE, FOUR DAYS FROM NOW,
THIS THING'S GONNA BE ALL GREEN GRASS WITH FLOWERS OVER HERE,
THERE'S NO WAY.
THE EXTERIOR'S GONNA BE PAINTED. THE DRYWALL'S GONNA BE FIXED.
I DON'T KNOW.
IT LOOKS LIKE THREE WEEKS TO ME.
THIS IS, LIKE, THE WORST THING EVER.
(Christina) I THINK WE SHOULD HAVE LEFT THE POOL, PERSONALLY,
BUT WHAT DO I KNOW?
CAN'T WAIT TO SEE MY KITCHEN.
(gasps)
I LOVE THE FLOORS AND THE CABINETS AND THE GRANITE.
I LOVE IT.
IT'S THE FUN PART.
BLING, BLING. THAT'S NICE.
I LOVE IT.
WHERE'S THE DOOR?
(Messina) NO DOOR. NOT ENOUGH ROOM FOR A DOOR.
WHAT IS THAT? WHERE THE TOILET GOES?
YOU'RE GONNA HAVE THE TOILET --
WE DON'T NEED A DOOR.
THERE'S NO DOOR THERE AND THERE'S NO DOOR HERE.
THERE'S NO DOOR.
WE CAN'T CLOSE OFF THE TOILET WITH A DOOR
BECAUSE, AFTER THE VANITY'S INSTALLED,
THERE WON'T BE ENOUGH ROOM FOR THE DOOR TO OPEN.
IF OUR DECISION TO LEAVE THE BATHROOM OPEN
TO THE BEDROOM LIKE THIS
TURNS OFF POTENTIAL BUYERS, I'M GONNA BE SERIOUSLY ANNOYED.
(Christina) TAREK CAN BE INTENSE,
BUT IT'S BECAUSE HE WANTS TO PROVIDE FOR HIS FAMILY.
WE HAVE A LOT RIDING ON THIS HOUSE,
AND FAILURE IS NOT AN OPTION.
(Messina) ONE MORE PROBLEM.
INSPECTOR SIGNED OFF ON THE BATHROOM.
WHEN HE WAS WALKING THROUGH, HE LOOKED AT THE WINDOW,
AND THIS IS NOT TO CODE.
(Christian) WHY?
IT'S NOT EGRESS.
FAT GUYS LIKE ME CAN'T GET OUT THIS LITTLE, BITTY WINDOW.
BASICALLY, A NEW WINDOW SYSTEM HAS TO BE PUT IN HERE.
A GRAND, WITH PERMITS.
$1,000 FOR A WINDOW?
FOR A WINDOW. LOOK HOW BIG IT IS.
I KNOW.
OUR PROFIT MARGIN ON THIS HOUSE
KEEPS SHRINKING AND SHRINKING AND SHRINKING.
ANY MORE, AND WE'RE GONNA BE IN THE RED.
YOU SEE THOSE LITTLE SILVER THINGS UP THERE
MM-HMM.
THE WHITE IS ASBESTOS.
NOW, IT HAS TO BE REMOVED
BECAUSE WE CAN'T WORK ON THIS, LEGALLY.
COST?
YOU'RE LOOKING RIGHT AROUND 3 GRAND.
DUDE.
(Tarek) I'M STRESSED.
WE'RE SUPPOSED TO BE DONE IN A FEW DAYS.
OUR ORIGINAL AMOUNT WAS $42,000, OKAY?
WE WERE SUPPOSED TO FILL IN THE POOL OURSELVES --
GOT HIT WITH ANOTHER $5,000.
WE'RE AT $47,000.
ALL RIGHT?
WE JUST GOT HIT WITH $3,000 FOR THE HVAC.
THAT'S $50,000.
AND WE GOT HIT $1,000 FOR THE WINDOW.
WE'RE AT $51,000. WE'RE GONNA LOSE MONEY.
WE'RE GONNA HAVE TO WRITE A CHECK TO SELL THIS PLACE,
AND THEN OUR CREDIT CARDS ARE GONNA BE SCREWED.
(sighs)
(Tarek) WE'RE 30 DAYS INTO THE PROJECT,
AND WE'RE SUPPOSED TO BE FINISHED TODAY.
BUT THE HOUSE IS STILL BEING PAINTED,
THE HARDWOOD FLOORS ARE BEING INSTALLED,
CARPETS ARE GOING IN THE BEDROOMS,
AND THE YARD IS A FREAKING DISASTER.
YEAH, FINALLY.
IT'S DAY 30, AND IT'S SITTING IN THE STREET.
YEAH, YOU SAID DAY 30.
THIS IS TERRIBLE. THE MARKET'S NOT DOING SO HOT.
HOW MUCH -- THIS IS GONNA TAKE AT LEAST TWO WEEKS.
I'M GIVING YOU THE KEYS TO THIS PROPERTY ON FRIDAY.
NO WAY.
SO, IF IT'S NOT DONE FRIDAY, WHAT ARE WE GONNA DO?
ARE YOU GONNA GIVE MONEY BACK? ARE WE DOING SOMETHING?
I MEAN, WHAT CAN I DO?
WILL THAT SPEED THINGS UP?
SURE.
YOU BETTER GO GET YOUR KNEEPADS ON, MAN.
(chuckles)
NO, NO, NO. HEY. (grunts)
COME ON. YOU'RE STRONG.
OH, MY GOD, IT'S HEAVY! OH, TOO MUCH!
OKAY.
I THINK I WANT -- HEY, I THINK I'M GONNA LAY AND NOT CARRY.
JUST LIKE CARPET. AM I GETTING PAID FOR THIS?
THIS IS A LOT OF WORK. WE'RE NOT BUILT FOR THIS.
LOOK AT THAT. PROFESSIONAL, BABY.
ALL RIGHT, YEAH. LET'S GET SOME WATER GOING, BABY.
(Messina) COOL OFF, BIG GUY.
(Tarek) HEY, LOOK AT THAT CHANGE. LOVE IT.
IT'S LOOKING LIKE A YARD NOW.
THESE PRICE RANGES -- THERE'S SOMETHING WRONG,
'CAUSE I SEE A LOT OF TWOS.
(Christina) RIGHT NOW, WE'RE TAKING A LOOK AT THE MLS
AND LOOKING AT COMPARABLE PROPERTIES,
FINDING OUT WHAT THINGS HAVE SOLD FOR
IN THE PAST COUPLE MONTHS, AND THE NEWS IS NOT GOOD.
PRICES HAVE GONE DOWN A LOT.
I KNOW.
TO BREAK EVEN, OUR BOTTOM LINE'S $350,000.
THIS ONE'S LISTED AT $345,000 AND NOT SELLING.
HERE'S THE DEAL.
WE SELL $350,000, GUESS WHERE WE'RE MOVING.
(chuckles)
HOW ARE YOU DOING?
GREAT.
TODAY'S THE BIG OPEN HOUSE DAY, YEAH.
TODAY'S OUR FIRST OPEN HOUSE,
AND TAREK'S MOM AND HER HUSBAND ARE HERE TO CHECK IT OUT.
WE'RE HOPING TO IMPRESS THEM WITH OUR FLIP
SO THEY'LL INVEST IN OUR NEXT HOUSE.
WOW.
(Christina) WE KNOCKED OUT A WHOLE WALL
THAT WAS, LIKE, SEPARATING THE TWO SMALL ROOMS,
SO IT REALLY OPENED IT UP.
BEFORE, WHEN YOU WALKED INTO THE HOUSE,
YOU SEE TWO SMALL, CLOSED SPACES.
AND NOW YOU WALK IN THE HOUSE AND IT'S COMPLETELY OPEN.
THAT LOOKS NICE.
WHAT DO YOU THINK? NICE?
(Robert) I LIKE THE CABINETS.
WHEN WE BOUGHT THE HOUSE, THE KITCHEN WAS A DISASTER.
THE CABINETS WERE 1940s, FALLING APART.
THE COUNTERS WERE YELLOW. NOW IT'S COMPLETELY GUTTED.
WE HAVE GRANITE COUNTERS, TUMBLED-STONE BACKSPLASH,
STAINLESS APPLIANCES.
IT'S LIKE A MODEL HOME NOW.
SO, WHAT'S THE TOTAL YOU'VE INVESTED?
53,500 BUCKS.
WE'RE LISTING IT FOR $399,000.
IT'S A LITTLE BIT HIGHER THAN THE COMPS IN THE AREA,
BUT EVERY SQUARE INCH OF THIS HOUSE IS BRAND-NEW.
RIGHT HERE TO THE RIGHT USED TO BE A LAUNDRY ROOM.
WE TOOK IT OUT.
(Tarek) THIS USED TO BE THE TINY MASTER BATHROOM.
IT WAS, LIKE, BIG ENOUGH TO TURN IN ONE CIRCLE.
YOU'D HIT YOUR ELBOWS ON THE WALL.
WELL, WHAT DO YOU THINK ABOUT THE FACT
THAT THERE'S NO DOOR TO THE TOILET?
(Dominique) TO THE TOILET?
WELL, SOME PEOPLE MIGHT BE BOTHERED BY IT.
AND OTHERS, WHEN THEY SEE THIS,
THEY MIGHT NOT EVEN THINK ABOUT IT.
HOW MUCH DO YOU GUYS THINK THIS BATHROOM WOULD COST?
I DON'T KNOW. $10,000, $15,000?
(gasps)
SO, WE SCORED ON THIS ONE.
SO, BACK HERE, THERE USED TO BE A POOL.
I DON'T KNOW IF YOU GUYS KNEW THAT.
WE HAD TO COVER MY POOL.
WHEN WE BOUGHT THE HOUSE,
THE BACKYARD WAS PRETTY MUCH A CONCRETE, EMPTY POOL.
THERE WAS A TON OF BRICKS, AND IT WAS A COMPLETE DISASTER.
NOW IT'S AMAZING.
IT'S ALL GRASS, AND IT LOOKS LIKE A PARK BACK HERE.
WE'RE GONNA SELL IT TODAY. OPEN HOUSE. BIG DAY.
BYE.
BYE, SWEETHEART.
LOOKS WONDERFUL.
GOOD JOB, SON. GOOD JOB, HONEY.
(Tarek) WE BOTH STILL HAVE OUR REAL-ESTATE LICENSES,
BUT CHRISTINE IS PLAYING THE REALTOR TODAY.
I'M GONNA HANG BACK AND BE A FLY ON THE WALL
TO LISTEN TO PEOPLE'S REACTIONS TO THE HOUSE.
(Christina) JUST FEEL FREE TO TAKE A LOOK AROUND,
AND LET ME KNOW IF YOU HAVE ANY QUESTIONS.
NICE TO MEET YOU.
1,700 SQUARE FEET. LISTED AT $399,000.
KITCHEN COMPLETELY REDONE --
NEW CABINETS, GRANITE, STAINLESS APPLIANCES.
IS THERE A PANTRY ANYWHERE?
UM...NO, THERE'S NOT A -- WE DIDN'T DO A PANTRY.
WE LEFT, LIKE, A EAT-IN KITCHEN AREA.
(woman) IT'S REALLY OPEN.
(laughter)
YEAH, I THINK A PRIVATE DOOR WOULD BE GOOD.
VERY NICE BATHROOM.
THE ONLY BAD THING IS THERE'S NO DOOR FOR THE BATHROOM, HUH?
YEAH. I WOULD DEFINITELY ADD THAT.
(woman) HAVING THE PARK OUT HERE MAKES IT LOOK A LOT BIGGER.
(man) THE BACKYARD'S NICE AND BIG.
IT'D BE NICE IF THERE WAS, LIKE, A POOL, MAYBE...
...OVERLOOKING THE PARK AND EVERYTHING OUT THERE.
YEAH, I KIND OF AGREE WITH YOU. I'M A POOL PERSON, TOO.
(Tarek) WE'RE DEFINITELY GETTING PEOPLE THROUGH THE DOOR.
SOME OF THE FEEDBACK'S POSITIVE,
BUT THERE'S ALSO PEOPLE THAT JUST WANT TO TRASH TALK THE PLACE.
AFTER THREE WEEKS ON THE MARKET, WE GOT MULTIPLE OFFERS,
WHICH DROVE THE SALE PRICE UP FROM $399,000 TO $405,000.
AFTER CLOSING COSTS, WE'LL MAKE A PROFIT OF $55,000.
TIME TO FIND ANOTHER HOUSE TO FLIP.