Hello all. My name is Louis Goldberg and I'm working on a show for the Learning Channel called "Flip That House". We are beginning our second season and looking for interesting house flips to document. Our show is purely documentary style we don't DO anything to the house at all. I was wondering if any of you had clients who do this kind of thing. We are looking in several areas of the U.S.

You can check out more about the show at the following web sites:

Our Production Company Site
actualreality.tv

Discovery Home's site (This season is on The Learning Channel but the show will be the same)
Discover Home\'s Website

If you do have clients who are interested or you simply want more information you can e-mail me at louis.goldberg@actualreality.tv

Thanks you,
Louis

PS
I'm not so sure if this violates the TOS if so and the post has to be removed I understand and apologize for any incontinence

This TV show is good education for investors. I have seen it myself and would suggest watching it.

Ugh, although I like shows like this I think they seem to be deceptive for uneducated investors. In the end, they say, profit (before taxes and fees) was X amount. What uneducated people don't realize that taxes (capital gains) and commission can take up a huge chunk of the funds (even as much as 50%). I really wish this show would show and accuarate accounting of EXACTLY how much they stand to profit. There's a big difference between a $50,000 profit before taxes and fees/commissions and a $12,000 TOTAL profit.

These shows are bringing me unrealistic prospects. Everyone in the world thinks they can flip houses now. I think they can if they have the right plan, but it's a lot of education on my part. I don't mind, but they come with the worst sense of how the business works.

Did you know incontinence means not having control of your bowels? I really hope it doesn't come to that.

Goodness. I didn't even notice that. Wow.

""""""""Originally posted by Tori Stamps, MA, JD:
Ugh, although I like shows like this I think they seem to be deceptive for uneducated investors. In the end, they say, profit (before taxes and fees) was X amount. What uneducated people don't realize that taxes (capital gains) and commission can take up a huge chunk of the funds (even as much as 50%). I really wish this show would show and accuarate accounting of EXACTLY how much they stand to profit. There's a big difference between a $50,000 profit before taxes and fees/commissions and a $12,000 TOTAL profit.""""

Do you know any tv show that offers 100% truth everytime? The show doesn't have to educate people on taxation because there are endless ways to control your taxes. So when you say accurate accounting which accounting would that be?

You could potentially have a self directed IRA and flip all you want for a tax free transaction. you could also rollover through a 1031 exchange.

Good point. You could also buy low, fix up, and rent, thus eliminating a good portion of your taxes and commission costs. However, that really wouldn't be a "flip," would it? Though in some areas, this strategy might be the only way to get positive cashflow from day 1. Just a thought.

You can't 1031 a flip.

Then do it one day after the annual mark. There are other ways of flipping to reduce/delay taxation. buying/Leasing for resale under one year would be considered a flip too.

I personally like using a self directed IRA.

You all bring up very valid points and I will pass them on to my executive producer and see what he thinks. Our show is meant to be a documentary show. We try not to manipulate anything and try our best to show the events as best we can (within the short 22 min. time frame).

In regards to my incontinence.... uhhh oops. That is rather funny though. I guess that's what happens when you spell check too quickly sometimes.

but is does make reading the forums interesting!!!

I actually like the show.....I just watched one today about the company with the two women supervisers and the guy who was obviously the money man...

I thought it was hilarious that they didn't find the termites till the bitter end....LMAO!

Sprinkler---I believe that's "Flip this House" on A&E--I saw it too; two different shows i think. It features Trademark Properties on every show, which is a real company in Charleston, SC.

Good show. I'm working with about 3 investors who do this, but they are very small right now, not the big operations that they show on the show. That might make for some interesting TV though. I have a good market for these because the properties are low enough that anyone thinks they can get in the game (have done several under 80k purchase) as opposed to some of the ones I've seen on the show where the house started at 350k and was a dump.

I second that emotion about showing TRUE profits. It's ok to show PURCHASE-FIXUP=PROFIT, but an easily readable note that this profit does not include capital gains taxes and costs associated with selling the house could be included for more accuracy.