Flipping Houses With Trademark Properties
If you have ever heard me speak then you are likely aware of my disdain for T.V. programs
that show a false reality behind real estate investing, especially flipping houses. One
of the earliest of these programs was 'Flip This House' starring the Trademark Properties
group out of Charleston, South Carolina. I'm not here to discount Trademark Properties
or the amount of knowledge and skill that they possess in real estate flipping, however
I do disagree with the trend of showing an inaccurate profit made on each deal.
Many of these 'flipping houses' shows purposely do not include closing costs, carrying costs,
or cost of sales (which can easily add up to 15%) when they show the final profit calculation
on a deal. I do not know if Trademark Properties are responsible for this irresponsibility
in calculating profits which seems to have become common practice in these types of programs,
or if this is the work of producers that wish to paint a prettier picture for viewers. My
opinion is that it is the latter, but either way it is deplorable.
Trademark Properties was started by Richard C. Davis in 1990 and in 2005 became the subject
of A&E's real estate flipping show 'Flip This House.' According to reports there were contractual
agreements following Season 1 and so the Trademark Properties did not return for Season 2.
Instead 'Flip This House' went on to follow other groups of real estate flippers from
around the country (most notably: Armando Montelongo's group from San Antonio, TX and
Than Merrill's team from New Haven, CT).
In 2006 Mr. Davis discovered that A&E would be producing more episode's of 'Flip This
House' without his group Trademark Properties. Mr. Davis sued A&E and won a $4 million lawsuit
for breach of contract, fraud and several other charges, because the show concept was
originally his idea.
In 2007 Trademark Properties inked a deal with TLC and produced a show called 'The Real
Estate Pros', which began airing in April of 2007.
Watch For More Information On Flipping Houses visit www.reimaverick.com