Tarek is a self-proclaimed real estate genius with determination and drive. Christina is Tarek's picture-perfect wife, who Tarek's friends still can't believe he landed. In each episode of Flip or Flop, Tarek and Christina flip a new property. From the nail-biting purchase at auction, to the frustrating renovations and maddening showings, to the giddy acceptance of an offer, we'll follow along as these two relatively novice flippers try their hand at the toughest game in town. From purchase to resale, weaving their personal lives within the story of the flip. From paying cash, sight unseen, for a property at auction, through the hapless remodeling process, to the frantic sale, this young couple is putting everything they have into this venture.
Tarek and Christina are contacted by a homeowner in Garden Grove, California, about a house they want to quickly sell off the market. The house needs a lot of work, and has strange rooms everywhere which could spell disaster when trying to get permits. Can Tarek and Christina rebuild this dated house into a dream home, or will troubles threaten this doll house flip?
Tarek and Christina buy a charming bungalow home on the edge of a historic Long Beach, California neighborhood. Christina loves the period details and design while Tarek loves that the good condition of the interior could mean savings in the budget. Will Tarek and Christina be able to turn this home into a classic beauty or will this old house teach them a lesson.
Tarek and Christina check out a home with a tight profit margin in Whittier, California. The house is in good shape though, and it shouldn't take much time or money to transform this property. It's a risk, but as long as they stick to the schedule and budget they could turn a quick profit and move on to their next flip. Will it finally be smooth sailing on this project or will setbacks threaten Tarek and Christina's fast money flip?
A partnership is tested in Anaheim, Cal., when their friend and fellow investor asks Tarek and Christina to work with him on a quick flip for a modest profit.
Tarek gets contacted by his friend Pete DeBest who wants to go 50/50 on a smoking deal on a house in La Habra, CA. With the new addition of baby Brayden to the family they have their hand full. So while Christina is busy with Brayden, Tarek will team up with Pete to tackle this flip. Will the friendly duo be able to pull it off or will unforeseen problems sink this substitute flip?
Tarek and Christina flip a house in Garden Grove, CA. They really have their work cut out for them on this one because not only is the house on a busy street but it is a mess! Have Tarek and Christina opened up a can of worms or does this flip have some hidden potential waiting to be uncovered?
Tarek gets contacted about a house on a desirable corner lot in Torrance, CA. Upon initial inspection it looks like a quick flip but then they see the house and foundation have cracks everywhere! Will Tarek and Christina be able to repair this home or will these splitting seams become a total rip off?
Tarek and Christina get a lead on home in Fullerton, CA which seems too good to be true. Upon arrival they see the house is riddled with cracks. Even with foundation repairs the profit margin is so large here it should be a good flip for them. With Christina close to having their baby, Tarek has his hand full with this one. Will they be able to rebuild this foundation from the ground up or will they watch as their profits disappear into this quicksand flip?
With Christina pregnant on bed rest Tarek enlists help from his friend and real estate partner Pete DeBest. They go on the search for their next big project and land a great deal on a run down house in Corona, CA. Once they crack open the door they see that they have their work cut out for them on this one. Will these old friends be able to work together to resurrect this home or will Christina's absence spell disaster for this flip?
Tarek and Christina are contacted by a homeowner in Costa Mesa, California on a great deal for a 1960's single story home. A good deal in a great neighborhood is exactly what Tarek and Christina look for. Once they start working on the home they immediately run into big ticket issues. Will they be able to handle these big issues or will they watch as their profits burn up in this fire sale flip.
Tarek and Christina flip the worst home on the block in this Anaheim Hills neighborhood. With high profit margins in a desirable neighborhood this should be a slam dunk. Can Tarek and Christina renovate quickly or will a the strict HOA hold up this communal flip?
Tarek and Christina buy a turn of the century home in a historic Santa Ana, CA neighborhood. Old homes always present unseen problems throughout the process and this home is no exception. Can Tarek and Christina handle the issues that come along with renovating a century old home or will ancient issues come back to haunt them?
Tarek and Christina are contacted by a realtor about an exciting new listing. So new, in fact, that the realtor doesn't even have keys yet. If Tarek and Christina want to buy this house, they'll have to do so sight unseen. The price is right and the profit potential is huge, but who knows what lurks behind that front door? Can Tarek and Christina stay on budget or will they be left clawing for profits on this cat nip flip?
Tarek and Christina get a lead on a for sale by owner property in Whittier, California that would scare most buyers away; but they're not most buyers. Tarek and Christina know that with a little hard work and design vision, they could turn a healthy profit on this home in just a few months. But as renovation begins, the surprises and expenses keep piling up. Can they keep this flip on track or could costly problems bring this house and their profit down to the studs?
Tarek and Christina head to La Habra, California to check out an enticing off-market listing. The home is typical for the area and appears to need only cosmetic updating. With the seller eager for a quick close, it could be a great deal if they can get it for the right price before it hits the market. Can Tarek and Christina transform this house into a dream home or could a nightmare renovation spell flop for this house of hidden horrors?
Tarek and Christina receive a call from their longtime friend, Carlos, who is deciding whether to sell his family's home or to try his hand at flipping it. It's a tall order for a novice flipper, but with the aid of Tarek and Christina's knowledge and experience, Carlos may be able to get his family a higher sale price. Can Tarek and Christina safely mix friendship and business to turn a profit on this family friendly flip?
Tarek and Christina head to Santa Ana to check out an off-market listing. It appears to be in good shape, has a great layout, and with strong comparable sales in the area, this home could be a great buy. But profitable on paper doesn't always translate into profit on paper. Can Tarek and Christina stay on budget or could hidden problems and untimely mistakes make this a pesky flip?
Tarek and Christina find a short sale listing for a large home in an upscale neighborhood of Yorba Linda, California. With an asking price just below a million dollars, this would be the most expensive flip they've taken on - and also the biggest risk. Can Tarek and Christina give this house the luxury treatment without busting the budget, or could this million dollar flip be a seven figure flop?
Tarek and Christina head to Placentia, California to check out a lead on a midcentury property. The home is dated but the size and layout is a designer's dream; and most importantly, the numbers indicate it could be a profitable deal. But as is often the case with old homes, no project is as straightforward as it seems. Can Tarek and Christina overcome surprises and setbacks to survive this frantic fiasco?
Tarek and Christina get a lead on a property in Santa Ana, California that has the potential to be both a great entry level family home and a profitable flip. But after walking it with their contractor, it's clear this run down home is going to need a lot of work. Can Tarek and Christina bring this project in on time and on budget, or could bad luck and big problems threaten to bring the profit crashing down on this dilapidated flip?
Tarek and Christina get a lead from their friend and investor, Pete, on a house he's recently purchased. It's situated in an upscale, gated neighborhood and it's a house Pete can't tackle on his own. A large, expensive flip can mean equally large profits; but it also takes time and even the littlest mistake is magnified. Will Tarek and Christina be able to partner with Pete to score their biggest profit yet, or could they lose it all in this natural disaster flip?
Tarek and Christina scope out a house in Fullerton, California that's in a good neighborhood and shows potential for profit. And while it seems a little high-priced for the area, if they can buy it for the right price and stay on budget, it could be a great flip. Will Tarek and Christina be able to unpack this cramped floor plan or have they backed themselves into a corner on this boxed in flip?
Tarek and Christina get a lead on a house in Torrance, California that is not only in rough shape, but also has known foundation issues. Right away it seems like this might be a bad buy; but Torrance is an exploding market and the land value alone could make this flip worth the risk. The house is going to need it all: good design, structural improvement, and careful renovation. It's a big project but it has the potential to be a big profit. Can Tarek and Christina transform this down and out home or could significant problems leave their budget and their profit margin on the verge of breaking up?
Tarek and Christina are contacted by an out-of-state seller looking to sell an old family home. It's a large house in original condition and could be a great flip. But it's also more expensive than their usual projects and the renovation could get pricey on this midcentury modern time capsule. Can Tarek and Christina turn a big money profit from this big money flip?
Tarek and Christina spot a listing for a small home near the beach in Costa Mesa, California. The home is in rough shape and will surely require a lot of work to renovate, but it's in a desirable and eclectic neighborhood and properties in the surrounding beachside communities command top dollar. Can Tarek and Christina transform this house from the worst on the block to the showpiece by the beach, or could a ballooning budget prove this diamond in the rough to be a lump of coal?
Tarek and Christina spot a home that's for sale by its owner in La Puente, California. It's in rough shape to say the least and because it's tenant occupied, they can't look inside. There's always a danger in purchasing a house sight unseen, but if they can get it for the right price, this home has the potential to pay off big time.
Tarek and Christina get a tip on a short sale in Anaheim, California that has plenty of potential and is certain to attract investor interest. With only hours to determine if this could be their next flip, they meet their contractor at the house and are puzzled by what they find - a maze of barricaded windows and suspicious additions. Tarek and Christina know that if they're going to flip this house, they'll have to stick to the budget. Can they revive this family home or could tricky obstacles distort this fun house flip?
Tarek and Christina get a lead on a trust sale property in Anaheim, California with an original layout and a dated design. It's in good shape and seems like a mostly cosmetic project with a lot of potential. But when their project manager comes back with a ballooning budget and a laundry list of contingencies, Tarek and Christina wonder if this home has more potential than pitfalls. Still, skilled flippers that they are, Tarek and Christina don't back down from a challenge and know that with no risk, comes no reward.
Tarek and Christina get a lead on a promising deal in Long Beach, California. However, the property is currently tenant-occupied so they can't inspect the inside of the house.
Tarek and Christina spot a trust sale in Fullerton, California that could either spell treasure trove or money pit.
Tarek and Christina el Moussa get a lead on a small and outdated property in Downey, California that has potential to be a fast, cosmetic flip. Tarek believes the reward will outweigh the risk and they buy the property.
Tarek and Christina El Moussa find a listing in Norwalk, California with such an attractive opportunity for profit based on comparable properties that they immediately make an offer on the property, sight unseen.
Tarek and Christina el Moussa are contacted by friend and investor, Pete de Best. Pete has found a newer construction home in Orange, California that needs cosmetic updating and should prove to be a fast, simple flip.
Tarek and Christina try to flip a little house on a large lot in Buena Park, California.
Tarek and Christina are busier than ever with their growing business. As a result, when a fellow flipper contacts them about partnering on a house and he wants to split the time, money, and profit 50/50, they are very interested.
Tarek and Christina el Moussa find a clean house in good shape that's aggressively priced in comparison to comparable properties in the area. It appears as good as advertised. They quickly make an offer to snatch up this flip.
Tarek and Christina take a risk on flipping a historic home in Anaheim, California.
Tarek and Christina come across a For Sale By Owner property in Garden Grove, California. This type of sale is always exciting for a flipper because it means no real estate agent commissions and an opportunity to negotiate a fair sale price. The house is in good shape and looks to need only cosmetic repairs and improvements. But in the business of flipping, one can rarely judge an old house by its finishes and it is truly what's on the inside that counts. Can Tarek and Christina deal with the hidden problems of an old house or will their hopes of a fast and easy flip turn out to be nothing but pipe dreams?
Tarek and Christina El Moussa spot an interesting property in Long Beach. It's a very small house and because the house is currently tenant-occupied, they will have to make their buying decision without inspecting the property.
Tarek and Christina el Moussa get a lead on a short sale property in Long Beach, CA that looks like a promising investment project, save for one small issue: the massive renovations the previous owners began are only partly finished.
Tarek and Christina el Moussa are contacted by their friend and fellow flipper, Jessie Rodriguez, who has purchased a craftsman style home in an historic area of Santa Ana, CA.
Tarek and Christina el Moussa get a lead on a small house that's aggressively priced and could be a lucrative deal based on comparable sales in the neighborhood. They decide to take the calculated risk and buy the home, its interior still sight unseen.
Tarek and Christina el Moussa come across a listing for a newer home in Yorba Linda, California that has great potential but has seen better days. The owner is motivated to sell quickly which could yield an enticing deal.
With no foreclosures to flip in Orange County, Tarek and Christina broaden their search to include Los Angeles County and find a house with a view that looks promising. The only problem is that the home is too far away for them to look at it before they go to the auction, so they'll have to bid on the property sight unseen. After placing the winning bid, they meet their contractor at the house for a design walkthrough. But listing photos aren't always what they appear, and the divide between initial perception and present reality has left Tarek and Christina in total foreclosure shock.
Christina receives an e-mail from an agent who has a listing in the South Bay neighborhood of Hawthorne. The dated house needs a lot of work and while it's situated on a busy street near an airport and a noisy elementary school, its attractive list price draws in Tarek and Christina. It's a challenge, but this total renovation is the kind of project they love to take on. That is until work begins and a multitude of hidden problems rise to the surface. Will Tarek and Christina's high hopes fall on deaf ears, or can they overcome this home's loud, louder, and loudest problems to turn a profit?
Tarek and Christina get a lead on a listing in an upscale neighborhood of Whittier, California and although the entire home will need some serious updating from its original 1969 finishes, the renovation appears to be mostly cosmetic and comparable properties suggest great potential for profit. With all their money tied up in other flips, Tarek and Christina must secure a hard money loan to make an offer on the home; but that alone will cost them hundreds of dollars a day in interest and one never knows what budget-busting financial hazards could be lurking behind those popcorn-textured walls. Can their contractor renovate this big house in a small timeframe or will unforeseen problems leave the project a day late and a dollar short? Could this high-end home and its expensive loan leave Tarek and Christina singing the hard money blues?
Tarek and Christina come across an intriguing short sale listing in the desirable neighborhood of Torrance. The exterior is in good shape and the comparable properties indicate the house could be a good value; but once they tour the home it becomes immediately clear that a lot of work and a lot of money will be required to update this 1927 home. Convinced that there's a profit to be made here despite the numerous challenges, Tarek and Christina punch their dance card and purchase the property. Can Tarek and Christina navigate this renovation maze or will they live to regret taking this house out for a barnyard dance?
Tarek and Christina get a lead on a short sale listing in an upscale neighborhood that has just fallen out of escrow. The large home shows promise for profit and with a heftier-than-usual price tag of $700,000, Tarek and Christina will need financial help from their friend, real estate investor Pete de Best. But with two investors comes two sets of opinions and budgets and schedules suffer the consequences. Have Tarek and Christina taken on too much house and too much co-investor? Who will prevail in this battle of flipper vs. flipper?
Tarek and Christina spot a home listing online that's set for an auction that afternoon and based on neighborhood comps, the dirty and dated house looks like a bargain. By outward appearances, all it needs is an inexpensive cosmetic rehab. But after an unusual auction and a bevy of surprise issues, this dirty, dated and undesired home has quickly become more work than Tarek and Christina ever imagined.
Tarek and Christina find a short sale home listed in Whittier, California that's rather small but the asking price of $275,000 looks enticing next to comparable properties in the area. With their own resources spread thinly across other flips, Tarek and Christina have only $300,000 to spend on the home and its renovation. Despite their rigid debt ceiling, they're convinced they can purchase and rehab the home within a strict budget. But as problems are discovered and the margins start getting tighter, Tarek and Christina hope they can turn a profit on this investment home that is too small to fail.
Tarek and Christina come across a bank-owned listing which has been on the market for fewer than 24 hours and is only accepting offers until 5:00pm the very same day. It's a house with great potential and Tarek is ready to pounce, so they make an offer and the bank accepts. But as renovation rolls along to bring this home to its true potential, problems arise. As budgets crash through ceilings and deadlines continue to be pushed, could this latest flip turn out to be nothing but trouble, or will it prove it always had nothing but potential?
Tarek and Christina are contacted by a cash strapped flipper who needs to unload a project house. With no bathrooms, no kitchen and nothing but plywood floors, exposed framing and piles of rubble, Tarek starts adding up the dollars required just to rehab the house.
Tarek and Christina come across a short sale listing in a desirable, hilly neighborhood of La Mirada, California. Although its price as compared to recent sales in the area leaves a tighter profit margin than they would like, the 1990s home is newer than the investment properties they typically buy and shouldn't need as much renovation as a result. With Tarek and Christina's usual contractor tied up by their growing roster of flip properties, they turn to a new contractor who comes recommended by fellow flippers. Will this newer home and new contractor make for a straightforward flip or could surprise costs and small mistakes leave Tarek and Christina risking a flop on this hilltop hangup?
Tarek and Christina come across a trust sale listing in Buena Park, California that looks very well-priced in comparison to recent sales in the area. After walking the home with their contractor and receiving a preliminary budget estimate, they're excited by the potential for profit. But as work begins and renovation costs rise on changing plans and hidden problems, their enticing profit margin appears to be on a downward spiral. Can Tarek and Christina rehabilitate this home into modern splendor or will mounting costs leave it to remain a ranch house of ruin?
Tarek and Christina get a lead on a home in Long Beach, California that sounds like the kind of project that has become their standard. But soon after walking the property and visiting a neighborhood comp, it becomes clear that this flip is anything but standard. The architecturally significant mid-century modern home will require Tarek and Christina to step out of their design and renovation comfort zones if they are to turn a profit on their investment. Can Tarek and Christina turn back time on their design aesthetic without inflating their budget or could a present-day flop be looming over this historic mid-century flip?
Tarek and Christina spot a listing that seems too good to be true, and as is often the case, the house doesn't exactly match the potential it had in the listing. But even with a major surprise in the details about the house, Tarek and Christina still see an opportunity for profit and embark on a fast flip with a new contractor. Will Tarek and Christina's gamble on this home and a new contractor pay off big profits or will this turn out to be nothing more than a risky flip?
Tarek and Christina get a lead on a home in Anaheim, California that is being offered as a quick, all-cash sale with no inspections and no contingencies. This seems like a project that's right up their alley. But with a tenant still living in the property, Tarek and Christina can't see inside the home before deciding to make an offer and anything could be behind that front door. Will the unknown spell disaster or could a little tender loving care be all that's needed to reverse the woes of this neglected flip?
Tarek and Christina are on the hunt for a summer project and find a unique home in Whittier, CA. With an old pool and a large backyard, this house has potential to be an entertainer's paradise. Taking on a backyard is a big challenge, but with big risks come big rewards. Can Tarek and Christina transform this home and reinvigorate its depressed pool, or could this project with poolside potential be in danger of circling the drain?
Tarek and Christina find a large home in the desirable town of Cypress, California. They know they can make money on this flip, but the comparable sales indicate that an amazing backyard with a pool could bring even more profit in this family community. It'll cost a lot more than a standard flip to put in a pool and create an outdoor living space, but they decide it's worth the gamble. Can Tarek and Christina get top dollar for this entertainer's paradise, or could design and construction hiccups dry up the profits on this home's once pooling value?
Tarek and Christina get a lead on a split-level home in Long Beach, California. The style is unique among the other homes in the neighborhood and the small backyard is a ripe for creating classic California-style indoor/outdoor living. As work begins and the backyard starts to take shape, surprise interior costs threaten the overall budget. Can Tarek and Christina create a backyard beauty by the beach, or could design woes push them over the edge of this split-level falls?
Tarek and Christina get a lead on a home in Torrance, California, that's just miles from the ocean and several upscale beach communities. The yard is small and tiered, but buyers in this area demand luxury and are willing to pay top dollar to get it. Tarek and Christina decide to pull out all the stops and make use of every inch of yard space to create an entertainer's dream fitting of its anticipated million dollar list price. Can they keep a lid on their budget or will this hillside spool wash away their profits?
Tarek and Christina decide to go big and invest in a Real Estate Owned, or banked owned, high-end hilltop home with a gorgeous view. They check their bank statements and realize that even after maxing out their credit cards, the only way they can cover the costs of rehab is to get Tarek's mother to invest by taking out a loan against her home equity. So, if they lose on this house, it will affect the whole family. Banking on the home's beautiful view, Tarek and Christina spend 20 thousand of their $50,000 rehab budget on landscaping, however, after they notice a crack in the foundation slab of the house, they realize that the home might be sinking down the hill along with their profits! With literally everything, and then some, invested, will this flip with a view have Tarek and his family sitting pretty, or tumbling down the hill towards bankruptcy?
Tarek and Christina snoop a foreclosure in Yorba Linda, CA. After casing the property and looking through the windows, they're confident the house is in good shape. So they head to bid on the house at a foreclosure auction. During a high-voltage bidding war, Tarek and Christina spend $393K on the property, which is more than they planned. Tarek and Christina want to flip this house in 30 days, so they walk through their house with their contractor, Dan Messina. It has a very awkward layout, with the master bedroom located between the front door and the kitchen. But much worse, one of the bedrooms turns out to be an unpermitted loft conversion! They thought they were buying a 4-bedroom house, but it's actually a 3-bedroom house! If they have to market this house as a 3-bedroom, they will actually LOSE money and will have to write a check to sell the house. Are Tarek and Christina going to Flip or Flop?
When Tarek and Christina see a 4-bedroom house in Garden Grove coming up for auction at a super low starting bid of $250K, they convince an investor that this is a good, cheap property to buy and flip. Tarek and Christina head to a foreclosure auction and buy the house sight-unseen for $280K. They meet their contractor Dan Messina for a walkthrough and realize the house is a major money pit. There is no master bedroom, a kitchen that needs a complete remodel, and a backyard that needs a complete re-haul, which includes fixing the pool and pool house. With the construction bid at 80K, this is the most they've ever spent on a flip. And when their investor Pete De Best stops in for a visit during construction, he begins to lose faith in the project. With their investor breathing down their necks, this double trouble flip has Tarek and Christina surfing the brink of disaster. Will they Flip or Flop?
Tarek and Christina check out a short sale that's listed at $214,900, discounted a full 50% from the $430K currently owed on the house! Short sales can be great opportunities for house flippers because banks would rather take a loss on a house than foreclosing and having to sell it themselves. This house is a large 4 bedroom with a pool that appears to just need a facelift, and with comps in the area between $230,000 and $280,000, Tarek and Christina make an offer, which is accepted, for $200,000. They get a $30,000 bid from their contractor to update the kitchen, bathrooms, master closet and the pool, bringing them right to the lower end of their comps. But when they realize a back addition is unpermitted, the added costs may erase their profits, potentially leaving the facelift they planned on giving the house covered with red ink!
Tarek snoops a small four bedroom foreclosure with a pool in La Mirada as Christina heads to the public foreclosure auction where the house is on the docket. Tarek calls Christina, and from his evaluation of the house, Christina bids and wins the house for $210,000, a smokin' deal! However, as soon as Tarek and Christina open the door, it's clear that this dilapidated house needs a full rehab from tip to tail. It's a disgusting, smelly, confusing mess of rooms, with piles of trash, and graffiti everywhere. Tarek seriously underestimated the home's rehab costs, as initial bids from contractors come in at $50,000 and up. The cost alone for cleaning up this flop house is expensive, but when they begin to discover a bevy of unpermitted construction, Tarek and Christina are forced to demo unpermitted additions and spend money to decrease their square footage! With a skyrocketing budget and a rehab plan, which actually might be de-valuing the house, will this flop house Flip Or Flop?
Tarek and Christina spot a large house in Ontario CA, going to auction for an opening bid 150K. But it's too far away to snoop and the auction starts in less than an hour. Based on comps, which are $240K-$260K, they take a leap of faith and head to the auction where they win the house for $180K. It's always nerve wracking to buy a house sight-unseen, but while walking through the house with their contractor, Dan Messina, it seems to be mostly cosmetic and can be done for 30K in 30 days. But after the work begins they find rotted wood, which leads to extensive termite damage. Will these termites destroy their budget to update the house? Will they be able to make the upgrades that will attract buyers? Or will they be forced to market this Inland Empire Cosmetic Nightmare as is.
Tarek and Christina follow up on a large family home in Fullerton, CA that is listed for $389,000. They tour the house with their contractor and discover that it will need extensive rehab. Not only will the interior need a full remodel, but the whole roof will also need to be replaced, multiple balconies will need to rebuilt from scratch, and the crumbling driveway needs to be entirely re-poured. However, it might be worth it because Tarek thinks a house this nice, in this area, will sell over $600,000, giving them potentially huge profit margins. But, the 1960's floor plan could seriously hinder its sale price. So Tarek and Christina check out a neighboring home with the identical floor plan that has been recently updated. They like it so much that they decide to replicate the house by opening up their kitchen and master bathroom walls. If they can modernize this mid-century home, it will appeal to a higher end buyer, but the scale of this remodel is pricey. So they cannot afford any unforeseen delays especially because they have to cover $600 a month in HOA fees themselves, until they can finish the rehab and sell the house. Will keeping up with the Joneses make them Flip or Flop?
Tarek and Christiana spot an intriguing listing for a curbside auction for a foreclosed 1920's Spanish style house in Santa Ana, CA. This is a unique opportunity to actually walk through the house, before the bidding starts. Although it needs a complete overhaul it has some charming original architecture still in place that will add to its value. They decide to bid on the property and win the house for $208K, a good price considering comps in the area go up to $325K. Their contractor meets them at the house and finds more issues than Tarek and Christina originally spotted in their walk through. There is some structural damage to the foundation and roof leaks that could be massive projects and additional costs. Tarek and Christina worry these structural issues might blow their entire rehab budget. Will this Spanish style salvage be a profitable flip or a regrettable flop?
Tarek and Christina get a lead on a bank-owned (REO) property that is a small 1920's craftsman bungalow in Whittier, CA. They are able to tour the house prior to making an offer, and discover it needs a complete overhaul. It may not be worth flipping. But there is a studio in the back that doesn't seem to be included in the square footage on the listing. If the studio is permitted, it would be a major selling point for potential owners, who might want to offset their mortgage with a renter. They check with the city and discover that it is in fact permitted. And the bank accepts their all cash offer of $182,000. They want to flip this house in 30 days so work begins right away. On Day 1 they discover that the lead paint on the house must be dealt with according to EPA standards at an unexpected cost of 12 thousand dollars! Day 2 and it's a broken water main, which once again destroys the budget! With their profit margin getting gouged, Tarek and Christina hold their breath to see if this bungalow gamble will Flip or Flop.
Tarek and Christina put their life savings on the line at a foreclosure auction, and buy a house that they've never been inside, for $275,000. And now it's the moment of truth, as they walk through the door for the first time and find the house is a disaster. The kitchen, bathrooms and backyard all need a complete overhaul! But there's no turning back because foreclosures are sold as-is. So they start work on the flip and the rehab budget skyrockets to over 50K. With the flipping business at stake, Tarek and Christina feel the pressure to get the house completed before the housing market shifts beneath their feet. And the thought of failure gives them the foreclosure heebie-jeebies. Will Tarek and Christina Flip or Flop?
After some intensive research on comps, Tarek and Christina find a promising 5 bedroom, 3 bath, house to flip in a family neighborhood of Bellflower, CA. When they tour the home with their contractor, Izzy, Tarek and Christina are thrilled to find a newly renovated kitchen and a dining room that just needs a coat of paint, however, their hopes, that the rest of the house will also be in turn-key condition, are quickly dashed when they discover that the upstairs master bathroom is covered in floor to ceiling mold. Considering the kitchen is in such good condition, Tarek and Christina decide that dealing with the mold remediation shouldn't ruin their remodel budget, and negotiate with the bank to secure the house for $385,000. But after they hire a mold inspector to run some tests, they discover they have toxic mold on their hands, which, not only is more expensive to treat than was expected, but will also take longer to fix. As they open up the walls to deal with the mold, they also find fire damage throughout the attic, and extensive termite damage throughout the house. With further delays and costs, all bets are off, as Tarek and Christina scramble to get this home renovated and on the market. Will cleaning up this moldy mess make them Flip or Flop?
Tarek and Christina spot a gorgeous family home in an upscale neighborhood in Cypress, CA. They tour the house with their contractor, Izzy Battres, to see if they want make an offer, and are pleased to discover that the house has a large open floor plan, a downstairs bedroom (perfect for an older family member or a nanny), a bonus family room as well as a large designated office space upstairs. However, Izzy begins to point out troubling signs of water damage that cannot be thoroughly investigated until they own the house, because it will mean ripping into walls. But Tarek and Christina think a home like this could sell for over $700,000, so, even in light of their contractor's warnings, they decide the potential profit margins are worth the risk, and they get the house for $490,000. Construction begins and they quickly discover that the water leaks have created a severe case of black mold, and the rehab costs skyrocket. Will the costs of fixing this mess eat onto their profits, or will leaking pipes leave them underwater?
Tarek and Christina have had their eyes on a short sale in Anaheim Hills for about a month, when suddenly it goes to foreclosure auction, so they jump on it for $430K. They arrive at the house for a walk through with their contractor and discover that the house has been vandalized! All the widows are broken, the hardwood floors are hammered, and there's graffiti and food all over the place! But worst of all, concrete was poured in the sinks, showers and toilets, destroying the plumbing in the house! Now their entire budget will be spent just fixing this damage, instead of doing the upgrades that would attract buyers. Will Tarek and Christina pull through this nightmare and flip this house? Or will this vandalized foreclosure sink their flipping business and make this a FLOP?