How accurate are TV shows about house flipping?

How accurate are TV shows about house flipping?
How accurate are TV shows about house flipping?

How accurate are TV shows about house flipping?

How accurate are TV shows about house flipping? - Question on Quora.com

House Flipping TV Shows are very deceptive and convince the average person they can flip a house in a few weeks and make a small fortune without lifting a finger.

My biggest gripe with the house flipping TV shows is they fake the numbers and don’t tell you all of the Other Costs it takes to to flip a house. The TV shows only show the Resale Value & then deduct the Purchase & Repair costs…but they don’t show all of the other hidden costs it takes to flip a house, such as the Buying Costs, Holding Costs, Financing Costs, or Selling Costs.

Bogus Math & Fake Profit Numbers

Here's some of the bogus math and fake profit numbers I typically see on the house flipping TV shows, which ignores all of the hidden costs:

Profit = $300,000 Resale - $200,000 Purchase - $50,000 Repairs

Fake Profit = $50,000

Real Profit Numbers

In reality if the TV shows included all of the hidden costs to account for the buying costs, holding costs, selling costs & financing costs, there would be a very slim profit margin left in the deal.

Profit = $300,000 Resale - $200,000 Purchase - $50,000 Repairs - $3,000 Buying - $6,000 Holding - $24,000 Selling - $12,000 Financing

REAL PROFIT = $5,000

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