In the past few years flipping houses has become a very lucrative way of making money, and house flipping TV shows have increased dramatically. Many real estate agents turned to flipping houses after the crash of the housing market in 2008. One of the notable real estate moguls who now educates on the topic of house flips is Than Merrill of Fortunebuilders, who was on the show Flip this House from 2009-2011. (https://twitter.com/thanmerrill?lang=en) Since houses have become much more affordable, realtors and investors are able to buy homes at a very low price, usually in cash upfront.
Investors and Realtors purchase homes at the lowest cost, demolish the interior of the house, in some cases, renovate them and put them back on the market at a much higher price making a substantial profit. Most of the time when they renovate a house they add new flooring, new paint, new kitchen and bath, and then stage the house in most cases and sell it. Some of the houses have to be reconstructed from the ground up if the houses are in drastically bad shape. Some homes are also timeworn, old, and need new electrical and plumbing as well.
Recently, many house flipping TV shows have popped up demonstrating what happens from the time of purchase, during construction, and then when the house is completed, staged, and ready to sell. Some of the most popular house flipping TV shows include Flip or Flop, Fixer Upper, Property Brothers, and the now off-the-air Flip this House.
Flip or Flop is a very popular TV show about a married couple, Tarek and Christina El Moussa who are real estate agents living in California who now flip houses. They turned to flipping houses since the market collapsed in 2008, and have become extremely successful. Tarek and Christina started their business buying smaller distressed houses, usually bank owned, foreclosures, and short sales. In the beginning, they had to borrow money, usually from their families, and now they own and invest in million dollar homes. Tarek deals with the construction and Christina is the designer of the homes.
Another successful TV show is Fixer Upper (http://www.hgtv.com/shows/fixer-upper) hosted by a married couple, Chip and Joanna Gaines who have 4 children that are sometimes part of the show. The couple renovates, remodels, designs, and decorates homes of all sizes and styles in Waco, Texas. Chip oversees the construction, while Joanna manages the design aspect and decorates the house. Part of her decorating is including one of a kind hand-designed pieces of furniture such as dining tables, chairs, doors, and some other woodwork furnishings that she designs. The couple started with smaller homes and now own their own renovating and design business known as Magnolia Homes.
The success of house flipping is usually because people can afford to own modern, newly designed homes at a much lower price than buying a home that is brand new with new construction and has all the upgraded features included. Also, people can design their dream homes and put their personal touch on them.