Flip THIS, House!!!

My parents are Real Estate investors. I grew up spending a lot of after-school afternoons on a work-site or at Home Depot picking up construction materials.

I never thought that many other people would find residential investment as interesting as I do, but a few years ago I was shocked to find that there were several television shows dedicated to flipping. For instance, Dana and I watch Flip This House every Saturday morning.

Flip This House is a really entertaining show with a catchy intro and several charismatic investors as the main characters. It makes for great Saturday morning TV.

You have to watch it the same way you used to watched Heman or Thundercats- with a big bowl of diabetes causing cereal (I vote for Count Chocula) and understanding that you're getting a half hour or so of entertainment and not a credible reference for your life plan. Using the show as a template for your investing success, might land you in some trouble.

Just look at some of the flipping crews from the show:

First, the producers of FTH were sued by Trademark Properties - the original flip team on the show. Apparently, Richard Davis, the founder of Trademark Properties, sued A&E on the premise that A&E stole his idea for the show. Davis won a $4 million award and now has his own show on TLC.

Next, if you were wondering why Sam Leccima suddenly disappeared from the show... yep, you guessed it- legal trouble. "Smooth talkin' Sam" might be in the biggest mess, as he faced an investigation from the Georgia Attorney General.

Finally, arguably the most notable character from from FTH, Armando Montelongo, as well as his brother David, have apparently had their own financial and legal trouble. You might recognize Armando from his radio or television ads. He now has his own website as well.

I don't know what to think of Armando. My gut tells me he's an honest guy but that his aggressive approach to the business might cause him to be stretched too thin. His management style is about as subtle as his haircut. How can you wear that much gel in the Texas heat?

Remiiiiiiiind you of anyone?







Here's my advice: If you're interested in Real Estate investment, go to a place like Champions School of Real Estate. There are other schools out there that offer the same type of courses but I've had really good experience with Champions. They offer classes on investing, construction, appraisal and other topics that investors need to be familiar with before they put both feet into the fire.

It is an incredible time to invest, if you have the money. But before you get out there, do your homework and be able to tell what's real, and what's not.

Oh, if you thought this post was going to be about House, the show- I KNOW.... what was up with that?

BTW, Rescue Me comes back on tonight. If you like Dennis Leary, you'll love this show. If you don't like Leary, but you like smart ass NY firemen, (hey, your thing, whatever) watch the show anyway.