The Television Make Over; The Real Estate Truth

It was thought that on average; at least five percent of the population had considered real estate investment in the last year. That is a staggering figure, a very large amount of novices vying for a trade know as flipping, which was once considered the most profitable yet most financially dangerous real estate deal possible.  Many realtors will not consider flipping. The reason behind this is because of the risks, the potential loss of cash these businesses can not afford to lose.  So if the experts think this, why are so many people, armed with such little knowledge, willing to take the risk?  One reason really: the old chestnut, the media. Or to be more precise the television programs that churn out such scenarios every single day.    These shows were invented with the aim of showing everyday folk the cheap and cheerful way to renovate a property and sell it on at a profit.  Well it all looks so easy, no one gets stressed, they are happy and laughing and low and behold it is all done in a few days.  Each house does look great with a vast improvement.  Then we see potential buyers walking around the property exhaling with the functionary comments on how wonderful everything looks.   Well this is all easy isn’t it, wow, we jump on the bandwagon and make easy cash yes?  No.  Of those people that were walking around, did any actually buy the place?  No, and we don’t know why they never tell us that part.  Also, when there are fifty experts working on a property, it shouldn’t take long.  But when it is you, the wife and Bert form the pub, it is a different matter entirely.

Okay we know the show is meant to inspire, but they do not really consider the fact that people will emulate and lose a lot of money.  The disclaimer at the end after the credits basically states this.  After the credits you say?  Who watches the credits?  Put the damn thing up as a banner across the bottom of the screen during the program…we might notice then.

Property development is very hard work; it takes blood sweat and more than a few tears. Yes it can be financially beneficial but the horror stories exist as well.  Never plan anything on the reference of a television show that has been edited and produced to make us see how wonderful everything and everyone is.  Consult the experts; your eyes will certainly be opened.