Reality Series On Flipping !
a new reality series is on it's way, yet again. check this out, http://money.cnn.com/2004/10/12/real_estate/investment_prop/flipping/index.htm
a new reality series is on it's way, yet again. check this out, http://money.cnn.com/2004/10/12/real_estate/investment_prop/flipping/index.htm
We can only hope that every one of them loses money. Otherwise...you think the competition to find junkers it tough now????
I received a call from that show at the beginning of the summer. They asked if I knew anyone that would be a good candidate. They were looking for a newby that they could watch do their first deal. He said that he didn't want someone who did it for a living, but rather someone who might underestimate repairs, etc.
I said my son just graduated college and might be interested. He asked if I would be willing to stand in the shadows and let him fail if it came down to it. I asked him 'do you mean would I let him lose money?' He said yes. I said no. lol
Hey,
This idea is "borrowed" from the UK TV show "Property Ladder", which has been on the air for 3 years.
Truthfully, if the new show follows the same format (and from the article they do) as the existing one, it is an emotional roller coaster. You learn very little, but it is a blast to watch people try to work on their houses.
I would guess that 90+% of the people on the current version, would have lost money if the market had not gone through the roof in the UK.
Everyone screws up BIG time.
If you know what you are doing, you can scream at the TV about the mistakes they are making. If you know nothing, you will learn nothing by watching it.
Also it has NOTHING to do with buying the houses. The houses have already been purchased before the show starts; it is all about the rehab process.
A really good show, on English TV, is "How to be a Property Developer". This show gives two teams 250k GBP to buy houses and you watch the entire process. They have a year to make as much money as possible.
My accountant also sent me info on it. From what I understand the benefits are as follows (i'm sure this isn't an inclusive list):
-Any individual under age 65 can participate in an HSA; an MSA is limited to self-employed individuals and small businesses.
-anyone can fund an HSA. This means you, your employer, children, anyone...
--The contribution limits are higher for HSA:
individual HSA $2660 vs MSA $1690
family HSA $5150 vs MSA $3863
-HSA's allow you to carry over your balance from year to year (rather than lose it if not used up each year)
-because of this, HSA's assets can be invested and earn interest. MSA's cannot.
There is obviously more to it but this gives you an idea.