George Clarke's Flipping Fast

[LadyEloise1]

Anyone watching ?

Yes

I’m watching partially because George Clarke and because I’m an “angel investor” in this kind of business. It’s early days but absolutely fascinating watching the different approaches

The approach by the different competitors is very different.
I thought the first couple's approach was daft. As they say "Fools rush in...."
They are a nice couple and I'd like them to go the distance but I don't think that will happen.
I thought the finish on the mother and daughter's home was in parts
atrocious.
It looked nice but lurking underneath were some horrors as revealed when the brothers visited.
They were very lucky to win this week.

Not seen this but I have a soft spot for George Clarke!

I think it's a bit loaded in favour of those who live in cheaper areas which makes it easier to visit potential properties in person. Having family who are prepared to work for you for nothing/ mates rates is a great advantage and also far easier if they are local to the properties.
It will be interesting to see how this pans out.

What does being an angel investor involved in this sort of business?

I’m really enjoying it. Agree that it’s easier if you live in a cheaper part of the country or have the skills/have family with the skills to renovate especially as a lot are quite big jobs and it’s not just a quick lick of paint job.

Thought the couple from Norfolk were crackers to not have a survey done on the first house.

Does anyone else think that Janet (the mum in the mother and daughter team) looks like Shirley Ballas?

Yes I'm watching, and enjoying it so far. Are the profits based on actual sold prices though or offer prices? What will happen if a sale falls through or an offer is reduced after a survey? Are they paying the 3% stamp duty - this was never specifically mentioned. And I do not believe that relatives/friends who are tradesmen would always be available and/or willing to work for free. Actually I don't think they do work for free, surely they get paid something.

"...that Janet the mum looks like Shirley Ballas.."

Now that you say it - Yes.

Anyone still watching ?

I watched episode three last night. I don't think I have enough time to deal with all of them do they? I think the woman who goes to Dubai will pack it in. The problem really is that house sales can take months even when they go well so I don't know how people can move directly onto the next house. The people who have family who can do the jobs are at a massive advantage, which doesn't seem fair. It doesn't mean they can become property developers as the people helping will soon get fed up of that.

To the above poster, there is no stamp duty as the houses are very cheap.

No, the reason for no stamp duty is because of the STLD holiday because of Covid. The threshold for no stamp duty is £45k which is less than any of the houses have so far been bought for.

*£40k

The format is annoying. Especially the bit where they send Scarlet and her brother in to 'Give advice'. I'm not sure if they're actually that helpful tbh and it's just filling time. George could do that himself, as he does in his other shows. I'd prefer to see more of the actual renovating. Also a good 10 mins of this weeks show was about the woman going off to Dubai. Wtf.

As a competition it's not a level playing field if some have skilled family and friends and can pull in favours and freebies. It would be better if they just kept whatever profit they each make and got rid of the competitive element. But that's probably just me as I like to see people do well. I really like the lady with 3 kids and the plucky older couple with their caravan 😀

I agree with your comments.
It really isn't a level playing field.

I agree, I’m sure they’re lovely people and good at what they do but they really don’t add anything to the show.
Much as I love George and property porn I’m a bit disappointed with the show so far

Sorry, I didn't realise that about the stamp duty. Just as well I'm not on this programme!

Totally agree about the level playing field - god knows how people found plumbers and electricians 200 miles away and managed to supervise their work, too.

Threshold is actually 125 in England it was temporarily raised during covid but is now back to 125, it is 145 in Scotland

I enjoyed last night's episode but the older couple, who I previously said I liked, are annoying me now. They haven't learned from their previous mistake at all. I'm not sure they'll finish their second house with so little budget left. I guess they'll have to just put it on the market and hope for the best.

Harriet is doing brilliantly but does seem to have a team that swoop in and do a lot of work for free. Hats off to her for finding properties that just need a quick flip though and working out what does and doesn't need doing.

Matey who went off to Dubai. Again, too much time wasted on that, they even followed him out there.

I wondered where George was going when he started talking about the unpaid bills from the mother and daughter team. I thought they might have broken a rule and would get chucked disqualified! Luckily not.

Not enjoying the annoying tense reveal of finances at the end of the show. Too drawn out and 'reality show' like.

Seen too many properties that have been 'flipped' that have shiny kitchens and paint jobs covering up the actual stuff that needs sorting such as damp issues, poor roofs, crappy windows, lack of insulation etc. There's already enough crappy houses on the market, let people buy them for their own use and renovate them properly!

I’m glad it’s not just me! They have absolutely no plan when they’re buying a property and no idea of what things might cost. They seem to think “bigger is better”, but don’t realise that costs will be equally proportionately bigger! Pity help whoever buys what they work on 😂

The problem is if properties are unmortgagable, a repossession or quick probate sale needed they will often up up at auction and bought by developers who have cash. It's difficult for 'normal' buyers who need a mortgage to buy at auction as I think they need to get some sort of mortgage offer beforehand which would probably include getting a survey done, or resort to a high interest bridging loan which could be crippling if for some reason they then can't obtain a mortgage. Sometimes on HUTH you see properties where someone has obviously made a start but for some reason has been forced to put the property back into auction which is sad and probably due to finance issues. It's a risky business to be in.

From those I've seen on HUTH a lot of developers do a really good job and deserve the profit they make. It's often not that much when you break it down to an hourly rate for the work they put in (unless it's London/commuter belt) but yes there are obviously some bad jobs being done by developers who just want a quick profit and just literally paper over the cracks. Buyer beware!

Just found this thread - I'm about to watch last night's episode. I've been shouting at the tv that it's not fair for some people to have relatives to work for free while others have to pay people to come in (and find those people in the first place). I think they should pay the relatives market rates at least (or pretend to, by taking that amount off the profit they made). But overall I'm enjoying it.

I agree. It's not a level playing field.

Was anyone else a bit gobsmacked at the mother and daughter duo's first house. Cosmetically it looked very nice but the camera did pan on to some appalling finishes.