Flip This House

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Follow the adventures of underdog real estate companies as they search for bargains in a tough housing market, then pump thousands of dollars of their own money into these neighborhood eyesores. It is high-risk, high-stakes attempt to flip properties for a huge profit. Will they succeed? Each episode ends with a reveal of what they paid for the property, the money they put into renovations, and the potential profit and losses.

Episode – 1 (Little House in the Hood)

Armando takes a chance on a run down house in a low-income neighborhood that has been hard hit by the sub-prime mortgage crisis. Falling home prices and reluctant buyers make for a tight profit margin for flippers. With no room for error, Armando takes over every aspect of the renovation, enforcing an insanely tight budget and managing the subcontractors himself. Without his project manager, Brent, and contractor, Randy, to run interference Armando quickly runs into trouble with disgruntled workers. Unexpected problems crop up and Armando fears he will not have enough money left to cover the basics – like bathroom fixtures. Cut corners threaten to leave the Little House in the Hood on the market forever. Will Armando swallow his pride and ask for help?

Episode – 2 (Joe’s Quick Flip)

Paul and Than put CT Homes rookie, Joe, in charge of his first flip. From negotiating the purchase to managing renovations and finding a buyer, Joe must handle it all. When he runs into trouble, Paul is busy training for the New York City marathon and refers him to the CT Homes manual. Supposedly, everything Joe needs to know is in the CT Homes manual, but when he can’t find the answers in the book he’s forced to do what every experienced flipper masters – learn from his mistakes

Episode – 3 (The Money Pit)

For several months, Peter has been holding onto a house he bought at the peak of the real estate boom in a popular, up-and-coming East Atlanta neighborhood. It won’t take much work to turn it into a lovely little home. Only problem is, they overpaid – by a lot – and the longer Peter keeps it and makes interest payments on it, the deeper he gets in the red. With an eye on the bottom line, Peter decides he’s got to flip it now before his potential loss gets any greater. Brian has no room for error on renovations and takes on the general contractor responsibilities himself to save money. Peter recruits Candice, a young broker who knows what sells in the area, to help salvage the deal. Everything goes according to plan and Peter feels confident that they may turn this deal around, until … a leak leads to the discovery of major structural damage and Peter’s fixer-upper turns into a complete rebuild.

Episode – 4 (A Well of a Tale)

The gang at CT Homes has found another diamond in the rough, a run-down colonial in an up-and-coming working-class neighborhood near downtown New Haven. Both Than and Paul see the potential in this property but as the flip begins, one huge problem emerges that threatens to shut down the whole flip: the water supply for the house comes from a well on the property and connecting the house to the city water line will be a major hurdle to overcome. Add to this fire damage that extends to the eaves of the attic and the presence of lead paint in the garage?the flippers at CT Homes have their work cut out for them

Episode – 5 (Brent’s Big Break)

Armando puts Brent in charge of the newest Montelongo flip. This time it’s one of Armando’s many rental properties that he now wants to flip and sell. The previous tenants left a mess of a house behind and it’s Brent’s job to turn it around. As usual, there are tight budget restrictions but this time Armando has added a twist. If Brent comes in under budget he gets a bonus. But if he goes over, he loses $500 of his paycheck. It’s time to see the budget through the investor’s eyes and Brent’s going to get a taste of flipping when it’s his money that’s on the line.

Episode – 6 (Than’s Bargain Buy)

As the market continues its downward spiral, Than and Joe find an opportunity – an overleveraged house heading into foreclosure. The bank is eager to unload their money pit and agrees to a short sale that allows Than to buy the place for less than the amount owed. Than’s bargain quickly becomes Paul and JD’s headache. The house has been home to squatters who trashed the place, then stole the valuable copper piping out of the walls. The neighborhood, while in transition, has a long way to go. Securing the job site becomes an issue when an intruder goes after the brand new plumbing. A Nor’easter sweeps through New Haven holding up work, and just when the sun starts shining, Paul has to deal with an unsettled lead lien – which may or may not cost them a fortune

Episode – 7 (Montelongo vs. Montelongo)

Armando and Veronica face-off in a flipping war with their latest acquisition. When team Montelongo disagrees over how to put their limited renovation dollars to the best use, Veronica and Randy unite against Armando and Brent. Armando lets his competitive zeal get the best of him and allows the house to be split down the middle and turned into a battleground. The stakes are high: the loser must dye his or her hair blonde. Thinking he has it in the bag, Armando totally underestimates the problems on his side of the house?mold, rotten framing and a flooded garage are a few of the major issues he has to tackle. Veronica and Randy are in charge of a kitchen that has to be rehabbed and poor scheduling leads to some very big headaches. With both sides struggling to flip the house on time and under budget, it’s up to Armando to bring everyone together and prove that while competition may motivate people, only team work gets the job done.

Episode – 8 (Peter’s Pet Project)

After barely finishing a break-even flip, Peter reveals that he owns another property, just two doors down on the same street. Like the last one, he bought at the peak of the real estate boom, just before the sub-prime crisis broke, and paid too much. Candice and Brian are wary based on their experiences with the first one. Brian calls on their most reliable contractor, Hercules, and soon everyone has caught Peter’s enthusiastic attitude. But will optimism reign supreme in the face of major termite damage, deathtrap flooring, and a roofer who can’t seem to get the job done?

Episode – 9 (Out With the Mold, in With the New)

It’s Lori’s turn to shine with her new find for CT Homes a house in shambles with a potentially lucrative side lot. The two-family home is a few blocks away from the VA Hospital and Lori and Than hope that this prime location for renters will attract a buyer looking to rent out the second unit. Based on the numbers, they close the deal without ever seeing the inside of the house – the rest is up to Paul and JD. On first inspection, Paul hates the place and predicts endless problems. He just may be proved right by permit delays, roof damage, and potentially hazardous mold that might cost a fortune to remove.

Episode – 10 (Judy’s Fast Flip)

In sunny LA, where the real estate market has held strong, Rudy Martinez faces steep flipping competition. He’s found a cute, little bungalow with big potential in up-and-coming Highland Park. An investor puts up the cash and Rudy commits to sell the place by the time renovations are complete. While Rudy searches for the right buyer, he leaves Carlos in charge of the job site. As Rudy’s right had man, Carlos knows a lot about the financial side of the business but almost nothing about construction. A few bad calls, and Rudy is back on the site teaching Carlos how to frame walls. The pressure rises when Rudy finds a buyer with fancy taste and risks spending double the renovation budget to woo her. He throws his designer, Mary, a major flipping curve ball by pushing for more instead of less. With the finishing touches in place and his buyer nearly sold, Rudy unveils his flip and keeps his fingers crossed that she will sign on the dotted line.

Episode – 11 (Veronica Saves the Day)

Veronica takes the reins once more as Armando’s success as a real estate guru takes him on the road and away from another flip. The newest project is a single family fixer upper with loads of potential. Armando jets off to a speaking engagement and leaves Veronica with her hands full. Tensions run high between Veronica and her all male crew–they aren’t listening to her and when she calls Armando for advice she gets put on hold. Add to all of this the fact that the city of San Antonio has an order to condemn the property and it’s time for Veronica has to stand up and let the boys’ club know who’s boss.

Episode – 12 (Flip in Trouble)

Peter’s latest find is a flip gone bad, abandon by the previous flippers who were overwhelmed by costly permits and forced into foreclosure. It’s an attractive, high-end home with loads of money-making potential if Peter and Brian can figure out how to flip it right. Before closing on the deal, they hire an inspector to go over the property with a fine-tooth comb so there won’t be any surprises. But, surprise, the termite problem uncovered by the inspector ends up ten times worse than expected. And the re-grading they anticipated for the backyard presents a string of permitting hurdles that threaten to shut down the job. The team begins to understand why the former flippers jumped ship. Will they set this flip straight in time to save their investment?

Episode – 13 (The Two Year Itch)

Brian and Peter are celebrating 2 years of flipping with Foundations Investments by starting a new flip on Atlanta’s west side. The property on Palatine Avenue is a major renovation project and in order to secure the large budget it will take to flip it, Peter and Brian have to recruit outside investors. A flip of this size comes with more than its share of problems as Peter and Brian discover. Difficulties finding a contractor they can afford and inaccurate blueprints are just the tip of this flip-berg . W ith investors watching their every move, this could prove to be Peter and Brian’s most challenging flip yet.

Episode – 14 (The Two Year Itch)

Brian and Peter are celebrating 2 years of flipping with Foundations Investments by starting a new flip on Atlanta’s west side. The property on Palatine Avenue is a major renovation project and in order to secure the large budget it will take to flip it, Peter and Brian have to recruit outside investors. A flip of this size comes with more than its share of problems as Peter and Brian discover. Difficulties finding a contractor they can afford and inaccurate blueprints are just the tip of this flip-berg . W ith investors watching their every move, this could prove to be Peter and Brian’s most challenging flip yet.

Episode – 15 (Brotherly Love)

The newest challenge for the team at CT Homes is a short drive away from New Haven, in an up-and-coming neighborhood in the town of Waterbury. It’s a gigantic 2-family rental that’s been a lucrative investment property for CT Homes, but Than decides the time is right to cash out. With the tenants all moved out, JD discovers one critical thing left behind – the family pet. Before demo can start, JD needs to figure out what to do with a sad-eyed puppy. Paul and JD soon figure out that their former renters who never complained were handling maintenance issues on their own and making a mess of the plumbing. As problems multiply and pressure mounts, JD and Paul are at each others throats. Meanwhile, Than, in search of a buyer, keeps his cool and charms the neighbors.

Episode – 16 (A Flipper in Need)

Veronica and Armando team up t o help out family flippers. Vero’s sister Becky and brother-in-law Jordan need some advice on how to flip their home . Armando sold them the house just a few years earlier and hardly recognizes the place when he and Veronica visit – doors dangle from hinges, broken glass litters the living room floor and five dogs have taken over the guest bedroom. Armando thinks the house has lost value since they moved in and is reluctant to help. Becky and Jordan need to prove that they can be responsible homeowners. Armando agrees to give them a second chance but not without putting them through flipping boot camp – they’ll have to stick to a tight budget and do much of the work themselves. Becky and Jordan’s laidback style clashes with Armando’s take charge approach and it’s up to Vero to mediate the family.

Episode – 17 (Peter’s Short Sale Steal)

Peter has high hopes for the Foundation Investments’ newest find. A small house on Beechview Drive in southeast Atlanta is a short sale steal and Peter and Brian stand to make a big return on a modest investment. The team plans to tear down a badly built addition in the back of the house and turn it into a new master suite. Asbestos inside and out takes a massive chunk out of their once generous renovation budget. As demo begins the removal of each layer of the house reveals a new problem and soon the house is stripped down to the studs. Moving on to the yard – a giant tree with far-reaching roots encroaches on the foundation, creating big landscaping issues

Episode – 18 (Rudy’s Jefferson Jam)

Rudy’s latest find is a a 2-family eyesore on a busy corner. The property doesn’t have much going for it?it’s infested with pigeons and a homeless man has taken up residence there. Rudy is confident that he can turn this place around but his team isn’t so sure. Tough inspections, a rotting flooring, and a rancid smell that’s seemingly coming from nowhere are just a few of the challenges they face. A lunch hotspot right next door serves up legendary tacos, and should be a selling point, but the place is rundown and ruining the view from Rudy’s front stoop. Rudy is determined to flip the facade so it’s as good looking as the tacos are tasty – the challenge is selling his vision to the chef.

Episode – 19 (Hartford Headache)

Than heads to Hartford to capitalize on a flip gone wrong. A flipper has foreclosed on a 3 family building in one of Hartford’s up and coming neighborhoods and the project was left unfinished. The team has already secured a buyer and their newest acquisition is looking like it will result in a big profit and an easy rehab. But after settling on a price, Paul and JD discover that this project won’t be as easy as it looks. Turns out this is a classic case of mortgage fraud – all of the previous owner’s “renovations” are revealed to be superficial. The problems keep adding up from a bee infestation to a complete plumbing overhaul. JD will have his hands full trying to deal with this Hartford Headache