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Knowing your likely exit sales price based on the neighborhood comps is the best way to back into your offer price.
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The El Moussa’s know what their break-even sales price is and use it to guide their offer on the house. Both had a background in real estate before they began to flip houses. The story: a married couple (now divorced) Tarek and Christina El Moussa buy houses that are falling apart, they renovate them, and then try to turn a profit.
HOUSE FLIPPER HGTV HOW TO
If you’re a Flip or Flop and Good Bones enthusiast, and they’ve got you thinking you might take a swing at this industry, here’s how to parse the fact from fiction. But shows like Flip or Flop and Good Bones make flipping houses look (relatively) easy, thus inspiring a whole generation of entrepreneurs.īut when we interviewed a couple who flips houses for a living-a couple with almost two decades of experience between them-they said there were parts where the shows got it wrong. HGTV is meant to be an escape and as such the shows most often have a happy ending. If this is the case, you should pay attention, because you can’t believe everything you see on TV. OR, you might watch to get tips for your next career as a house flipper. You might watch HGTV for entertainment, or to get ideas on your next DIY project.