Repose
Posted on July 25, 2006 - Filed Under Personal |
Last night, I took the night off to rest and relax. The stress from all the plumbing took its toll. After working through the weekend, I decided that one night was in order.
I watched this show called "Flip this house". Has anyone watched this show? For those that haven’t, it’s a television show regarding the "flipping of houses". Investors buy these run down houses, fix and repair these houses, in a matter of weeks, and sell them for a hefty profit.
The one investor, Richard, has that entire process down to a science.
Without going into much detail, I watched as Richard purchased this home for $522,000. He hired a contractor, set the budget, and gave a deadline of three weeks. About a dozen workers descended onto the house and started working.
About four days into the project, Richard came by the house. Out of the original dozen or so workers, only four were there. And they weren’t working. One climbed into his truck and started to leave. Richard asked him where he was going. The guys response was classic.
"Fishing."
It’s nice to know that even professionals experience these same problems.
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4 Responses to “Repose”
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Yes! I watched an interesting episode on Sunday evening, but this one was about 2 brothers in San Antonio, TX. They were also having trouble motivating their workers. One of the guys would basically yell and threaten all of the time, while the other would try to be nice and bribe the workers with beer. It’s been said that only pain or pleasure will truly motivate people. The work got done but, which of the 2 methods worked? I guess we’ll never know!
Yes, I started watching that one too! As soon as I saw the one brother’s wife, trying to be all Hollywood-ish, I freaked out and changed the channel. With my handyman, I figured out that if I do something nice for the kids (or grand-kids) he does all kinds of free stuff for me. Whatever works!
Is that the episode where they buy a house in a gated, affluent community that has been vacant for 5 years?
Talk about unforseen circumstances cutting into your profit! Rats (over 300 exterminated and removed), black mold causing job halt and $50,000 to remove drywall and insulation, plus cleaning duct work, then having to replace all insulation and drywall!
Then they find out that they can’t put up “For Sale” signs to interest potential buyers inside the gates.
They decided to invite the local orchestra to play a charity event at the house, and any money from the sale of the house over their wanted profit margin would go to the orchestra. A marketing ploy of pure genius.
If I remember correctly the final cost to rebuild was close to 950k, but they listed it for 2.4 million!
Mikki, that’s the one! What I thought was great about this particular episode was anything over $1.8M would be donated to charity. In the end, I think the house sold for $2.4M which meant $600k went to charity.