Monday, October 14, 2019

Blind Items Revealed #3

September 1, 2019

This HGTV star is facing some heat because investors in one of his projects feel like they are getting scammed.

Tarek El Moussa

15 comments:

Brayson87 said...

Sounds like a dessert.

Gator said...

Him and Christina the Lisper have long been rumored to be scamming people.

DavidHowesCREBroker said...

As a CRE Broker, my only (free) advise to you Home Buyers is:

NEVER buy a house that's being flipped!

MissDavie said...

House flipping is a scam anyway. It's ruined the home buying experience for so many first time or lower income buyers who can no longer get into the market because every available house has been bought cheap, flipped and upped $50K in price because of some bottom of the line light fixtures and a couple of coats of paint...oh and the same cheap looking flooring. They are literally ruining the character of older homes by tearing out the walls so it can be "open and airy". I really wish the fad would die. It's too late anyway every house in the world seems to have been "flipped".

Astra Worthington said...

AMEN Miss Davie! Thank god we got a house that hadn’t been flipped and it was still in it’s lovely original form. I LOVE “dated” homes, hate the cookie cutter shit that everyone has now. The only thing that I hate more is those god awful boards by the door saying shit like “Welcome” or worst of all “Live Laugh Love”. Oh and good luck trying to find anything unique that isn’t a trillion dollars, in a store (fixtures and the like).

Fucckkkkkk house flippers 🤬

INMFTG said...
This comment has been removed by the author.
INMFTG said...

@DavidHowes... +10000!!! As a person in the RE biz for many years myself, you are absolutely correct. Although there is a small percentage of businesses in the flipping game that are legitimate, honest contractors who do quality work, the majority of them are numbskulls who watch the late night infomercials about becoming a millionaire in real estate- the advice being buy a crapped up house, slap on some paint, get some cheap appliances and get someone to pay thousands more than it's worth. My free advice to potential home buyers is A. don't buy a flip but B. if you absolutely are going to buy a flip make sure you know your local statutes and do your homework. The state I live in allows most plumbing and electrical work to be done by the homeowner- you only need a licensed contractor if the work requires permits.. if that is the case make sure you get the info re whether work was performed by a licensed contractor.. unless the seller signs off on invasive testing (unlikely) you'll never know the home owner/flipper didn't correctly repair the plumbing till the water starts leaking through ceiling from the bathroom above(for example).

Brayson87 said...

+1 David and MissDavie. $50K is low, I've seen flippers double their purchase price with minimal cosmetic changes. They know there's usually a sucker out there who only sees chrome appliances and new flooring.

Scarlet Peaches said...

Lol Brayson sounds delicious

Andi said...

The whole show is about how cheap they can remodel houses and then how much they can mark them up when selling, so yes he's ripping folks off....

MissDavie said...

I think a cool idea for "flipping" a house would be if some contractors got together and could certify that a home was structurally secure, had good plumbing, good roof, good electrical with some kind of guarantee those things would last for say 5 years. Just fix those basics and then let the homeowner deal with cosmetics things and offer to work with them. Many buyers don't mind scratched up wood floors or an old stove. They just want the peace of mind of knowing that they don't have to replace the roof or plumbing immediately after moving in.

Brayson87 said...

@MissDavie, I get what you're saying, they need a Holmes home inspection 👍
Was there anything more terrifying yet thrilling than Mike Holmes walking into a nice looking house and declaring it a death trap? Screw these other celebrities, I would take Holmes to every dinner party to explain to hosts why their homes would eventually fall apart and kill them due to crappy workmanship.

Aquagirl said...

The only episode that I ever saw with Tarek & Christina is when they were flipping a house which had a nasty, empty pool in the backyard. Instead of fixing it, they filled it with ROCKS, and covered it with AstroTurf. Talk about shady.

Aquagirl said...

@Astra: +1, And anyone who buys ‘artwork’ from Home Goods, Bored Beyond Belief, etc., should be shot.

Brayson87 said...

Damn Aquagirl, tell us what you really think 😅

Not everyone can make their own art, or has good taste, sometimes it's nice to slap something commercial, but pretty or interesting on the wall and call it a day.

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