HGTV’s Page Turner of the New Series Fix my flip says the house-flipping days of tossing and burning are over and buyers are savvier than ever.
While the market favors sellers, Turner, who has years of experience in real estate and flipping homes under his belt, says just because you list it doesn’t necessarily mean they will come. Creating a strategic flip, designed to sell is the theme of her new show where she guides and advises real estate investors on how to get the best return on their flip. She even puts her money where her mouth is and invests in some of the properties – but first the house pinballs have to take her advice.
Buyers want more than basic flipping
“I was a basic pinball machine,” Turner told Showbiz Cheat Sheet. “But now in the new world of acceptance and human life and character and color everywhere, I’m finding ways to add that pop without it being too crazy. People just don’t want to become crazy at home.
Shoppers are likely diving into the slew of HGTV shows. “But what I’ve found is that buyers are so savvy these days and usually the buyer finds the type of property they want to see before they even find an estate agent because everything is so accessible in line,” she explained. “But buyers also know what a base reversal looks like now. You know, they read a lot. They see everything on the internet, know what a basic reversal is and are able to trade based on it. But when you bring in a bit more like maybe colorful tiles or just a few patterns here and there just to make it welcoming, it’s a winner for the buyer.
“A lot of people design it for themselves and their thinking is that budget means cheap and basic,” she added. “But that’s not what it is at all. And that shouldn’t be the case or you’re going to have a property sitting there because it’s priced too high.
What does it offer for a better ROI?
The basic design and cheaper devices are out when it comes to flipping. “I’m not a cheap fin,” she said. “Most of my flips, 99%, include appliances and high-end appliances. Again, if I pay, let’s just say, 5% more on tiles, appliances and accessories, how much will that make- more?”
“But if it gets me even more buyers, more buyers. Because hopefully you will get a bidding war,” she shared. “So it’s worth it in the end. I’m not a pinch penny. That’s what I teach a lot of these fins here, like you’re so cheap. But yet you’re asking a million dollars for those houses. That’s why they sit. And that’s why you have to end up accepting offers below your list price, because you just haven’t added that extra 5% for appliances, finishes, and tiles. »
Good advice but not always picked up on the HGTV show
turner said Fix my flip shows the difficult and sometimes painful process that house fins go through. She meets flippers of all experience levels and comes up with her plan to reverse their flip or help them get the most out of their flip. Being a seller’s market, Turner said just finding an affordable flip is a huge challenge.
The house flippers ask Turner for help, and viewers will see that the end result can often come as a surprise. “Well, interestingly, what I found on this journey is that most of the properties I can figure out,” she said. “However, I will not put a dollar in [a situation where] people say they want to be coached and they need help. But then turn your back on them and say, ‘No, no, no, we’ll find something else.’
“You know the old adage that you can take them to water but you can’t make them drink? Well, on this show, there are pinball machines that said they needed help. I gave them a plan to get out. Nothing in real estate is sure, but 99% I would help them out, even offering to buy the property directly from them. They would have won several hundred thousand dollars.
“Instead they said, ‘No, we want to find out for ourselves. Some of those properties to this day are still there, unfinished, untouched,” she revealed. So who takes his help, who refuses it, and will the properties sell?
Find out when Fix my flip premieres Thursday, March 10 at 9 p.m. ET/PT on HGTV.