Some people prefer watching sitcoms, courtroom dramas and other types of fiction on television, but reality TV is more my speed. While I like many different types, those that focus on homes are my absolute favorite. My first foray into the world of reality homes shows was House Hunters. Now you can catch me glued to the screen whenever Selling New York and Property Virgins is on.
One show that has to be my all-time favorite is Flipping Vegas. While this show has been on for several years, I just discovered it a few weeks ago. The show is about a guy name Scott Yancey who goes all over Las Vegas buying homes that are relatively cheap. He and his wife Amie, who is a designer, make these places look fantastic, then they sell them for profits.
When I first started watching the show, I figured it was perfect for entertainment value, but there are far more things that I get from each episode at this point. I’ve learned so much from the few episodes that I have watched, and I’m am dying to invest some money, buy some property and see if I can make a decent profit.
Things I have learned watching Scott Yancey
When you are fixing up a home, it is not necessary to buy a refrigerator for the property. On all of the episodes I have seen, the Scott and Aime Yancey bought stoves and dishwashers, but not refrigerators. This may not seem like a big deal to some, but it shows me one way I could save a little money if I start flipping houses.
- While you want to fix up a home significantly when you are trying to flip it, you should not spend so much on it that you end up chewing away all of your profits. As long as large things like plumbing and wiring work just fine, there is no need to invest money to have the entire system overhauled.
- I watched an episode called Reptile House, and I was surprised by how much Scott was complaining about the place. It almost seemed like there was so much wrong with the property that it would be best to turn and walk away from it. Apparently, any house can be saved. I figured something so terrible was a lost cause. I will have to keep this in mind as I move forward.
- This has absolutely nothing to do with flipping homes, but apparently a husband and wife team can work together to make money without killing one another. When watching a couple of the episodes, the Yancey’s had a rift, but they decided to squash it quickly for the sake of getting the home fixed and ready for sale. If I choose to do this, I want my husband to be a part of it. I am hoping that we can work together as well as they do.
- Scott Yancey runs seminars that teach regular people how to flip homes. This is great since I would love to learn firsthand how to do this. My husband and I head to Vegas at least once every couple of years, so this is something that we are interested in. This proves that reality TV is not all smoke and mirrors. Some people are actually who they appear to be on television.
The last time I watched the show it had me so intrigued that I went online and read a few reviews about the seminars. Apparently, most of the people who attended were very pleased with the information they learned. There were some who balked at the idea of paying extra to get all of the best information, but that is ridiculous. Why would anyone with information on how to make millions with real estate give it away for free? Then everyone would have the information and there would be so much competition that it would be hard to take advantage of it. It’s best to keep a treasure trove of information to a select few.
I always thought that people who flipped houses were real estate moguls and the like, but the Yancey’s have shown me something entirely different. While I don’t think that they are an average couple who has to struggle to make ends meet, I do not believe that they are working with an endless money supply either. It seems like they have taken a rather modest income and used it repeatedly to make a profit. All in all, they are doing something that seems entirely doable for me and most of the people that I know.
If you have never watched the show, you should give it a shot. As I said, it is becoming one of my favorites. Here are a few things that I like about the show:
– The prices they can pay for some of these properties are amazing. I honestly thought that you had to be filthy rich to do this, but it is clear that you do not. Honestly, you can take some of the money you have in savings and turn it into more money.
– Each of the homes that are shown seems to have some theme. There was one that was filled with cats, another that was occupied by a hoarder and this alien house that was totally awesome and was equipped with a huge, glass counter-top.
– I like the idea of being able to buy a home based on pictures. This may seem risky, but that is far better than wasting money traveling all over the place when you can make purchases from your backyard.
Scenes from Flipping Vegas Season 3
I Love House Flipping Shows
This is not the first show that I have watched that is devoted to the subject of flipping houses, but it is certainly the best. While all of the others seem so serious and boring and totally focused on the final side of things, this show can help you see things from a different perspective. For example, they show how Scott reacts when the places he buys are not as nice as he thought they were, and the problems are larger than expected.
I appreciate this because it shows that flipping homes is not all about glitz and glamour. There will be times when you place money into a deal and it may seem like things are not going to go your way, but there is a light at the end of the tunnel. I am sure that all deals don’t turn out positive, but I can say that seeing this kind of thing gives me hope.
When I went to check out the details about the seminars Scott is responsible for I found several reviews that were positive. The methods that will be taught are those that he created, so it will be just as good as it would have been if he was present. I wish there were some way to determine whether or not he would be there at any given time, but I guess that is not a possibility. You cannot blame a girl for hoping.
I have tried many different investment opportunities over the years, but this one seems like something I can stick with. Seeing the Yancey’s on the show made me realize that this is possible for everyone, and I want to give it a try. While there are no 100% guarantees when it comes to any part if the real estate game, this show makes me feel like there is a good chance that I can make some money. I will not walk into any deals blind to the fact that I may see losses instead of gains. Instead, I will focus on a large number of houses out there that are being purchased for bargain basement prices and sold for a mint.
Flipping houses is a gamble, but it seems to be one where the odds are certainly in your favor. I guess all of this would depend on the place that you buy, the amount of work you do to fix it up and how appealing it is to the average buyer. If the home you buy is far too run down, you will not make a large profit at all. I am hoping that the places I buy do not have any of the major issues that I have seen Scott and Amie deal with on the show.
The idea of flipping houses is about more than making money once and walking away. The idea is to continue cycling these funds into new purchases and making more money. Again, this probably is risky, but it is something I am excited about giving a try. My husband is all about anything that will put extra money into our pockets, so I am positive that I will be able to help him get on board. We have an account that has inheritance money in it, and I think we should use it for this purpose. We do pretty okay, so I am sure that we will be able to stay afloat even if something goes wrong.
I am not sure when the next seminar is or where it will be held, but I am certainly ready to get started. I have some vacation time available at work, so I can certainly take some time off and learn more information about flipping houses. If my husband is not able to go, I will bring a friend or two along. I am sure that some of the people I know would love to get in on this as well.
When I started watching this show, who knew that I would learn so much that I would be interested in giving this a try. I have never been involved in any serious investments, and the thought of this is very exciting to me. I know that it may take some time for us to master this and be as lucrative as others who have been at it for a while, but I am sure that we will learn enough from the information at the seminars that we will do just fine.