'Flipping 101': Tarek El Moussa mentors first-time flippers Victor and Deanna and saves the day with his ideas
After wowing fans for several years with his impressive flipping skills on HGTV's hit show 'Flip or Flop', Tarek El Moussa has donned the hat of a mentor on HGTV's latest show 'Flipping 101'.
Tarek will be mentoring first-time flippers on how to navigate the incredibly tricky yet risky world of flipping with his rich experience and knowledge.
The pilot episode featured a young couple — Victor and Deanna — dipping their toes into the world of flipping. The couple's enthusiasm for flipping soon takes a dip, when Victor purchases a property solely based on photographs only to realize what an abysmal state the property was actually in.
For starters, the property has a shared driveway and backyard with the neighbors, which also seems like a makeshift dump yard for the neighbors' excess furniture and household stuff.
Tarek steps in like a knight in shining armor with his incredible flipping knowledge to guide and save Victor and Deanna's day. When Tarek sees the property he instantly expresses that the couple might have made a huge mistake by taking on the property.
However, he swoops in and comes up with actionable ideas to boost the value of the property. He started with renovating the house and has a talk with the neighbors to put up a fence between the houses so that they can each have their own private backyard instead of a shared one.
And that's how you flip.👏 Don't miss #Flipping101 with @tarekelmoussa Thursdays at 9|8c. pic.twitter.com/pPdhWBiq3E
— HGTV (@hgtv) March 6, 2020
The couple ends up going above their budget while renovating the house. So, Tarek drops another nugget of wisdom for the couple when he teaches Deanna to negotiate with the real estate broker to cut down on the percentage of commission the broker would get.
She follows Tarek's cues and manages to bring down the commission percentage from 5 to 3.5, which ends up saving the couple $10,000!
The episode ends with the couple making a profit of about $63K — not bad for first-time flippers. Tarek definitely taught the couple a thing or two about flipping. Hopefully, they will make better purchase decisions when picking out their next property.
Watch 'Flipping 101 with Tarek El Moussa' every Thursday on HGTV. Check your local listings for more information.
