House flipping shows have taken the nation by storm. From flipping homes to renovating buses into homes, to having a flipper compete with a realtor, these shows focus on a lot of different aspects of the industry. Just how accurate are these depictions? While they definitely get some things right, there are some inaccuracies that can make the industry seem much more glamourous and simple than it truly is.
Not only do some house flipping shows give their flippers a time frame, but all of them are also deceiving because of the length of an episode. In one hour you get to see a house transform when realistically, it took weeks or months to complete. As far as those that set a time frame, that doesn’t happen in the real world. In many instances, it can’t happen. Renovations are always tricky to complete on a schedule because something almost always goes amiss. For example, you may knock down a wall to find a termite infestation. Clearly, your schedule needs to be put on hold until that situation is dealt with. It’s safe to assume that the homes being flipped on television shows have been inspected for any major issues. Either that or the show is being untruthful about how long it took to flip the house.
A Team of Workers
For some flippers, this is actually a reality. For many though, house flipping is not done by a huge team. Many flippers are teams of fathers and sons or husbands and wives working together. It’s rare to see a team of carpenters working simultaneously with a team of painters. If you do call in outside companies to help, you have to follow their schedule. It’s also extremely uncommon for teams to work at the same time because they get in one another’s way. Typically, a flipper will call in a construction team, wait until they’re done their projects, then bring in the people restoring the hardwood floors. It would be disastrous to have construction happening at the same time as staining a hardwood floor, so it’s really never done. Furthermore, the teams you see on house flipping shows are all professionals with many years of experience. The network pays top-dollar to get the best in the business so that they can film episodes quickly and have good end results.
What many house flipping shows fail to show is the difficulty that can come with funding a flip. As big-name networks, the producers of these shows have plenty of money to spend. They can easily purchase homes and help the flipper pay for renovations. As we said, they can also pay the teams of workers that make the flip possible. In the real world, purchasing a house to flip can be very difficult. Many flippers are duos or families. They likely don’t have enough money in the bank to pay for the purchase of the house and the renovations needed. This is where loan lenders come into play. For example, here at Zinc Financial, we give loans to flippers who are looking for their next project. As part of our comprehensive rehab program, all of our house flipping investors’ projects are evaluated to minimize your financial risk. ZINC will then work with you to identify solid projects that fit your region and economic parameters. All you need to do is apply for a loan, and we’ll get in touch to get started.
Zinc Financial is a direct lender, so all decisions are made quickly and in-house. You can get the loans you need in a much shorter time than with banks and other traditional lenders. While we aren’t able to broadcast your project on a television show, we can make the real house flipping process much easier. Give us a call at (888) 552-6637 for more information. We look forward to hearing from you!