Thursday, July 07, 2005

New TV Show on Discovery

Have you seen Property Ladder on Discovery Network yet?
It's about first time rehabbers who try and make money flipping houses. It's fun to watch because you can learn what not to do - and laugh at the "obvious" mistakes some of these people make....The sad part is that they are all making decent dough! Very depressing, because when you watch this you always say to yourself - 'I can do better than that!"

Critiques: Only problems are they dont really show all the expenses and costs incurred. They show rehab costs and holding costs, but not initial funding or selling costs, nor any ROI for the labor people put in. One team put in 4 months of hard work and got $17K. I make more than that sitting on my butt... Not worth it. Also, they dont show how the people chose the house or how they found the deal - one of the more crucial parts I think...but of course, Discovery wants to focus on the home project part not the REI part. I assume this may start another push of Newbies into the rehab business.

Still fun to watch though!

Links to this post:

Create a Link

<< Home