This neighborhood is a hot spot for house flipping.
Tarek El MoussaAnd Christina HaackHGTV has a brand new project that they are taking over Flip or flip special, Buyover Flip, premiering Thursday, Dec 2.
In an exclusive CelebHomes sneak peak, the exes are in Los Angeles’ Highland Park, a far cry away from the Orange County they know so well. For starters, their latest renovation—abandoned by its previous owner mid-flip—is missing a very important detail: a roof.
Tarek says that it was a fixer top, but Christina shakes her head. She said “But I didn’t realize half the house had gone.”
He explains that an investor purchased it several months back, began the rehabilitation, and went to the city to get the permits. The construction started but ran out of funds. “So we are here to buy it over, if you want it.”
However, do they really? After all, he says the three bedroom, three bathroom, 1,700-square-foot home has an asking price of $850,000, with a possible profit for 1.3 million—but the neighborhood seemingly doesn’t match the bill. This is a risky venture that could pay off with a larger payout.