Tarek El Moussa has been busy helping new house flippers learn how to make a profit on his new show, “Flipping 101 With Tarek El Moussa.”
So, do his pupils improve over time? On the latest episode we get the answer to this question when the house flippers from the premiere episode return with yet another flip.
In “The Craziest Ceiling in Compton,” we reunite with Victor and Deanna, who are back for more help with a new house they’ve bought in Compton, CA.
Will this flip prove that they haven’t learned anything from their mentor? Read on to learn how El Moussa teaches these house flippers new lessons, and what we can all learn in the process that might apply to our own homes.
A fresh color helps curb appeal
When El Moussa first sees Deanna and Victor’s flip, it’s clear that he’s underwhelmed. In fact, he points out that these two novice flippers seem to have a habit of buying the most complicated and difficult houses to renovate.
And while there are some big (and expensive) issues to address, like uneven floors and a leaky roof, luckily, one big improvement isn’t too hard to fix: the curb appeal.
With a pink exterior and bars on the windows, the house looks ugly and outdated. With a simple coat of paint, some attention to the windows, and a little TLC for the lawn, the outside looks new and fresh.
The popcorn ceiling really has to go
El Moussa is shocked, and perhaps a little impressed, when he sees the home’s ceiling. The aggressive gray popcorn feature makes the home feel like a cave, but as El Moussa points out, there’s something to be said for how much work probably went into this supremely ugly effect.
Of course, Victor and Deanna agree that the ceiling has to go, so they have the popcorn removed and replace it with a more conventional look.
The plain white walls (and ceiling) they choose for this house may be predictable, but they’re clean and refreshing, perfect for a new buyer.
Use the same tile throughout the house for better flow
Victor has a history of making bad decisions in the kitchen design.
The last time he and Deanna called on El Moussa’s help with a flip, Victor ended up ignoring El Moussa’s advice on the backsplash, and the result was an obvious mistake.
But this time, Victor is ready to go bold with a beautiful tile. They choose a pattern all three of them like, and Deanna and Victor end up using the design in the bathrooms as well as on the kitchen peninsula.
The result is two stunning bathrooms and a trendy kitchen. Using the same tile throughout gives the house a sense of continuity and a stylish flow.
Fill the kitchen with plenty of cabinets
In this flip, Victor may have learned his lesson when it comes to tile, but what about the cabinets? Victor and Deanna pick out beautiful white cabinets for the kitchen, but in an effort to save money, Victor orders fewer cabinets than are needed, ignoring a whole wall that could be used for storage.
El Moussa calls him out on the mistake, saying that potential buyers will notice the lack of cabinets, and of course, they do. It’s a big mistake, but also a good lesson in not trying to save money when it comes to storage.
Add grass to the yard
With an unsightly backyard filled with dirt, El Moussa is surprised to hear Victor’s plan to keep it as is. El Moussa advises spending money on some grass, but Victor pushes back.
Still, El Moussa doesn’t want Victor to make a big mistake. He points out that the large backyard is a big selling point for the house, it’s something that newer builds in the area don’t have. To prove this, El Moussa takes Victor and Deanna on a tour of one of those new builds.
In the end, Victor agrees to put some grass in the yard, leaving some space for a garden on the perimeter. The yard looks amazing, and when potential buyers stop by for the open house, they agree.
Was this ‘Flipping 101’ tutorial a success?
With a leaky roof, uneven floors, and an unpermitted addition, Deanna and Victor seem like they’re in big financial trouble with this flip. And yet, somehow, they end up coming out on top.
They buy the house for $334,000 and spend $88,000 on renovations. With some construction delays, the couple end up paying $29,000 in interest on their loan. They also spend $25,000 on closing costs. This means their break-even price is $476,000.
They decide to list it at $535,000 and end up getting an offer for $545,000, leaving them with an impressive profit of $69,000. It looks like El Moussa’s lessons have really stuck!
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