page turner is best known for her work on HGTV’s “Flip or Flop Nashville,” where she renovated rundown homes with her ex-boyfriend (and former soccer star turned entrepreneur) By Ron Jenkins. Now Turner is alone!
In his new solo show, “Fix My Flip” (which premieres March 10 at 9 p.m. ET/PT), Turner uses his expertise to help first-time real estate investors turn their doomed ventures into big profits. .
Find out how you can do it too in this exclusive interview, where she also reveals savvy advice for first-time home buyers, easy renovations that bring a good return on investment, and her favorite bathroom feature, which is in disappearing from the houses. today.
In your new show, you help newbies make a profit. What was your biggest turnaround mistake early on?
I have so many! Number 1 is: I didn’t find a mentor, someone to help me with what I was doing. People think it’s like a little hustle, but it’s a full-time job. And I had no guidance.
I ran out of money, and that was long before I really understood what a hard money loan was. I just thought, “Oh, I’m just going to put in $20,000 that I’ve saved up,” and I pitched in – and I was stuck. I was embarrassed to ask someone for help. I didn’t know how to say “Hey, I’ve got $20,000 over my budget, what should I do?”
What was wrong with this flip?
Everything that could happen happened: the pipes burst, the electrical panel was so old that the whole house had to be redone. It was a money pit and I just didn’t know how to stop the bleeding. When I think of this house, I get mad at myself, because I was stupid to buy in the first place, and I just didn’t know what I was doing.
Now, with all the homes you’ve remodeled under your belt, what’s your favorite room?
Oh, a fabulous bathroom. All my kids have graduated from college, so where I would have once said an open concept with a large kitchen and a huge pantry, this has changed to: I love my bathroom so much !
One that is nice and bright and airy and open is what I want and need to have. I just like to come home and soak it up. Some people get rid of bathtubs in home renovations, but this is my favorite feature.
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Even if they don’t return, many homeowners want to spruce up their homes. What’s your best budget upgrade?
Paint, especially if you can do it yourself. Maybe change a light fixture here or there. A bathroom vanity goes a long way in improving a bathroom.
Buying a home is tough these days, especially for first-time home buyers. Any advice to help them?
It’s a historically high market, it breaks my heart when it looks on paper that people can buy a home, but when they get into the real amounts of money – down payment and closing costs – they find they got overpriced monthly payment.
So you may need to take more time, save as much as you can. You may need to travel a little further from your workplace. And there are still down payment assistance programs.
The most important thing is to find a very good real estate agent and lending partner who can put together a great plan for you and tell you how many options are available.
For example, many people don’t realize that if you’re a retired or active VA vet, there are 100% loan programs with no limit on how much home you can buy.
Do you have any recommendations on what type of home first-time home buyers should try to buy?
House hack: If possible, find a house where you have multiple units where you can live in one and rent or Airbnb the other. This can be a great source of extra income, really for homebuyers at any age.
Lots of people are considering moving house these days. Do you have any tips for them?
#1, realize this isn’t a side hustle – this is a real business where you need to have a solid business plan.
#2, find a mentor. You may have to pay, but just combine them with the profit you make from flipping, so you have someone who can help you along the way.
And #3, always increase your budget! I inflate all my budgets by at least 10%, because there will always be an unknown in every flip.
I promise you that if you have that extra cash, you won’t be stressed out about getting it.