Money Blue Book

For a while now I’ve had an obsession with watching house flipping reality programs on TV. That is, until the real estate market collapsed. Since then, the hype and fascination seems to have subsided a bit with the feeling that perhaps many of these shows did the public a great disservice by over glamorizing the flipping experience. By oversimplifying the renovating process and featuring only the greatly successful flips, some of these housing shows perhaps gave many the misleading impression that flipping is so easy, even a caveman can do it - prompting many to foolishly dive in without proper real estate education.

These popular house flipping shows should be regarded as entertainment only and not seen as a step by step blueprint guide to flipping projects. If you are looking to get inspired and want to become more involved in the real estate investing business, watching these shows will certainly give you a good introduction into the realm of flipping. But they won’t teach you how to properly finance your flip project or even address necessary aspects like how to obtain the appropriate construction loan or even how to properly budget for unexpected repairs. But entertaining they most certainly are.

Here Are A Few Of My Favorite Flipping and House Hunting Shows:

1) Flip This House (A&E Channel) - This show is probably the original house flipping program of recent years. Each episode tracks the purchase and renovation of a single home, listing the price of the home, renovation cost, and the expected profit from each flip. For newbie flippers, this show provides the least realistic portrayal of the amateur flipping process as the show only spotlights the trials and tribulations of experienced and professional real estate teams.

However I love the show and found it irresistibly entertaining due to the endless stream of scam and fakery controversies that have continuously plagued every season of the show. The Flip This House show and its television network are currently embroiled in at least one lawsuit involving allegations of fraud and breach of contract, as well as other well publicized rumors of flipping fabrication and scams.

The most notorious episode involved Atlanta “real estate developer” Sam Leccima and his season two housing flip scam debacle. His on the air house flipping prowesses were later exposed and discredited as shams by news investigators when it was revealed that he had duped many investors in an elaborate flipping cover up. Apparently not only did he fail to own a real estate license at the time of the show’s filming, he also never owned the houses he allegedly flipped. Much of the work shown on the show was revealed to be actually temporary and shoddy patch up jobs designed to look good on TV. Home staging presentations were faked with his own friends and family posing as potential buyers. Fake Sold signs were slapped in front of unsold homes to make his on the air flipping projects appear successful. How the A&E filming crew failed to realize what was happening as it occurred is beyond me. Very fishy indeed.

Other allegations of fakery involved the humorous and entertaining Montelongo brothers. After watching several of their episodes, I got the feeling much of the whipped up drama was being exaggerated and staged. At some point the episodes grew so ridiculously off the wall that they became asinine, such as when one of the Montelongo bros supposedly had a mental breakdown and had to visit a psychotherapist, or when the family had to sneak into a hotel with their pet dog and birds because their home was being worked on.

However, the show’s most popular real estate team was probably season one’s Trademark Properties, which featured folksy leader Richard Davis and his lovely fan favorite sidekick Ginger. However, due to contractual legal disputes, they’ve since moved over to another television network to start their own show.

2) The Real Estate Pros (TLC/Discovery Channel) - This show exclusively features Trademark Properties which left A&E after filing a lawsuit against the television network over allegations of breach of contract stemming from nonpayment claims. The characters are the same and the show revolves around the same flipping adventures of the Charleston based company.

3) Flip That House (TLC/Discovery Channel) - Unlike the other shows, Flip That House features mainly amateur singles and groups of house flippers as they work together through the process of purchasing, budgeting, renovating, and appraising. The conclusion of each show always ends with a final renovated home value estimate from a real estate agent, but the appraisal usually entails some ridiculously high projected profit that reeks of unrealistic expectations. Despite construction and budget obstacles, the flippers also always seem to come out on top.

Thankfully in the spirit of realism, some older episodes now showcase a Flip Forward feature where viewers can catch up with past flippers to see how their venture actually turned out. Oftentimes, it’s revealed that many flipper properties ultimately languished unsuccessfully on the market for months to years despite the original projected profit spin.

4) The Property Ladder (TLC/Discovery Channel) - This show is one of my best favorites, but only because I enjoy watching train wrecks of amateur flippers crashing and burning their way through the house renovation process. Most of the time I cannot believe some of the wacky approaches out there when it comes to flipping houses. The show features host Kirsten Kemp as the expert property developer who advises these bumbling fools as they strip, hammer, and spend their way into the financial hole. They never seem to listen to her but strangely frequently come out on top, to my viewing disappointment.

5) Flipping Out (Bravo TV Channel) - The show centers around the real estate flipping and personal life of Jeff Lewis, a colorful Los Angeles high-end real estate developer with an obsessive compulsive management streak. The fun part is not watching his team purchase homes and resell them for profit, but rather watching him multi-task his business deals and still keep tabs on his beloved cat “Monkey”, housekeeper, and former boyfriend and business partner Ryan. “Drama for sale” seems to be the theme of this interesting flipping show.

6) House Hunters (HGTV Channel) - With the implosion of the real estate market, there seems to be greater demand for home staging shows and programs that focus on the home buying experience. As a prospective home buyer one day, one of my favorite new shows is House Hunters, which tracks the house hunting experiences of families and couples as they visit prospective houses while verbalizing their likes and dislikes about every aspect of each home they visit. At the end of each episode, they have to decide which home they liked the best and which they would like to make a purchase offer for. It’s very educational and beneficial for me to see how others go through the home buying thought processes as they visit homes and scrutinize the pros and cons. The fun part is always trying to guess which one they’ll ultimately go for.

I can’t help it. I’m attracted to and fascinated by trashy reality television shows - the bigger the train wreck, the better. My newest reality fixation is Bravo TV’s new millionaire dating show called The Millionaire Matchmaker. This show could easily be the next logical step up for those party girls from MTV’s Super Sweet 16, which I previously wrote about.

The Millionaire Matchmaker features feisty Los Angeles matchmaker Patti Stanger who runs a modern and high end business of helping rich men fulfill their dreams of finding true love and potential wife, and helping gorgeous women marry into millions. On the show, her clientele of wealthy men pay a high fee to be introduced to an exclusive selection of beautiful and smart women, pre-chosen based on their compatibility factors. The men are given access to an array of high end staff of date coaches, personal shoppers, and interior designers to help them improve their personal self appearance and to spruce up the presentation of their millionaire dollar homes. Many of these men are workaholics who are usually too busy with their own careers to find time to date for themselves.

For women, joining the club is free so long as they can pass the high physical appearance requirements and aren’t red flagged as possible gold diggers. From the start, Patti makes it clear that she is no Heidi Fleiss madam and that her agency is not an escort service as she strictly prohibits sex until both parties have entered into a committed, monogamous relationship.

Progressive Female Liberals Need Not Apply

You’re not going to find any feminist trailblazers on this show. What you’ll get is no-nonsense traditional views of what men and women want when it comes to love and relationships, especially when money is no limitation. Caveman tenets of lust, love, and attraction apply - with men being attracted to beauty, youth, and fun; and women being attracted to material possessions, confidence, and power. It’s the age old swap of money for beauty. Just from watching a few episodes, it’s clear that millionaire dollar men feel entitled to a higher standard and quality of women than common folk. As the show astutely points out, millionaires choose women the same way they would order a new car off the lot - they want the perfect, newest trophy model gift wrapped to suit their existing lifestyle without the flaws.

The most entertaining and fun part of the show comes with the crazy bits of wisdom (if you can call it that) that flies out of head matchmaker Patti Stanger’s mouth. She’s a rambunctious firecracker who doesn’t hesitate to lecture and verbally slap her male clients around for their own tough love good, whom she views as misguided little children. I really like her and even though much of what she says can be considered abrasive and shallow, I think there is much hidden truths in what she has to say. She also seems to genuinely care in shaping her eligible millionaire bachelors into successful relationship putty - even if that means she has to ruthlessly critique their flaws to make them understand what’s wrong with their views and why they are unable to settle down into real relationships.

The Show Strongly Reinforces Stereotypical Male and Female View Points

The show perpetuates a timeless and traditional view of men and women that frankly, remains alive and well today. It is this very return to tradition that has been one of Patti Stanger’s keys to success as a matchmaker. She is harsh on both men and women, screening both for the perfect traditional matching qualities. The men are checked to make sure they are truly worth millions and the women are screened carefully to maintain a high physical appearance standard. Many of the show’s millionaire clients come to her with a particular female look already in mind that’s partial towards the young, model-type look. Perhaps as a genuine reflection of the unspoken views of society, the show perpetuates the understanding that what men want the most in women is beauty and youth. What women seem to want the most from men is power and money.

According to Patti’s values for there to be matchmaking success, this means men need to be chivalrous, they need to be generous with their money, and they need to take charge and be confident with women. Females on the other hand are encouraged and taught that they must accentuate their physical qualities - if they have nice “assets” they must flaunt it, they must dress alluringly to appeal to male tastes, and they must show a little leg here and there - basically don’t dress like you’ve just left work. Another disturbing but perhaps real life lesson is that she also lectures women on the need to downplay their own professional accomplishments - basically if you are a doctor, never introduce yourself as one initially - because when it comes down to it, men don’t want to compete in that department.

I Find The Show Entertaining Because It Reflects Many Unspoken Facets and Truths About Societal Views Towards Dating and Relationships

Whether the traditional values promoted by the show are right or wrong is not for me to say, but I think the reality is that despite the modern progress men and women have had in terms of human relations, in many ways we’ve stayed the same. Many commentators have blasted the show for perpetuating traditional stereotypical views of women and I understand why they are upset. But at the same time, the show is about hooking up men and women who want love, not about political correctness. Love is a crazy thing where traditional ideas still hold true.

Even though I think matchmaker Patti Stanger has a narrow view of what men want, I think she is frequently right on point when it comes to her true life assessment of male and female preferences when it comes to dating. Of course her traditional views may be controversial and humorously offensive to some - such as when Patti chided one of her prospective women for having red hair, because as she put it, red hairs are “not the freshest produce in the aisles” (presumably implying that red hair is old school and outdated). Dye it brown she ordered, because men don’t like red hair. If you have curly short hair? Grow it long or get hair extensions and perm it straight because men like hair that is long and straight so they run their fingers through it.

However, the show does seem to promote a worthy abstinence requirement as a way to keep the men’s dating motivations on the up and up (so to speak). Patti imposes a strict no sex policy until a committed relationship has been established. While this almost puritanical policy tries to inject some standards, it doesn’t detract much from the inherent meat market circus of matching up nearly two dozen attractive women with one rich man for his choosing. Then again, is it really all that much different when people post their personal profiles complete with physical attributes onto online dating sites like Yahoo Personals or eHarmony?

The Show Does Teach A Valuable Lesson - Money Does Not Always Buy Love and Happiness

As an ordinary non-millionaire Joe, I actually find some guilty comfort knowing that even millionaires have major trouble in the dating department despite their massive financial fortune. The show reveals that even millionaires can be fault ridden in the love department. The Millionaire Matchmaker’s stars are not the peddled and pimped out women who willingly submit themselves for selection, but rather the sleazy, cocky, and pathetic men that do the picking. In one episode you had one man in his late 40’s who despite his noble assertions of wanting to find true love with an educated and marriage-minded mature woman, still ended up picking the young co-ed nearly 20 years his junior out of the female selection pack despite having nothing social in common with her. Then there was the episode with the one rich guy who ran a successful online sex toy business who could not give up his player lifestyle of throwing female laden house pool parties or removing the “non-offensive” stripper pole bolted in his living room.

Their money might provide them housing comfort and material joy, but it’s also the same corrupting influence that clouds their proprieties and explains why they insist on finding their trophy sugar babes rather than their more age appropriate soul mates. Entertainment aside, the show does demonstrate that money doesn’t really buy true happiness. However, it will allow you to buy access into the Millionaire’s Club to meet plenty of long and straight haired young women, who are eager for you to lavish them with material attention - for the short term at least.

Check out Patti’s Commandments Of Dating for both men and women. Prepare to be entertained, offended, and dumbfounded at the same time. Her views really reflect on the current dynamics of male and female wants and expectations. Here is a sample of one of her thought provoking dating tips directed at women:

Once you have decided you like a specific male and you have gone out with him four times, it is important to show your appreciation and reciprocate. But do not offer to outright pay for something: once a woman touches money/credit card in front of a male she becomes masculine energy, which is undesirable. But this does not preclude showing thanks by purchasing him a CD, book, theater or concert tickets, just don’t do it in his presence. Offering to cook a meal for him is an exceptional, appreciative gesture. The number one small request a wealthy man makes of a woman is a good old-fashioned home cooked meal.

Masculine energy? Haha! Great stuff!

I would like to wish my readers and my lovely girl a Happy Valentine’s Day! For those of you who don’t have a clue where to take your Valentine’s date, I recommend The Melting Pot, a classy fondue restaurant. Fondue is basically a communal type of dinner meal shared around an earthenware pot cooked over a small burner at your table. The light fondue cheese mix inside the pot is usually cooked with traces of wine and kept warm while diners use specially pronged forks to dip bread and other bits of food into it. Although it’s deliciously fun, the dining experience can be rather expensive.

Love May Be Cheap, But Fondue Isn’t

The Melting Pot is definitely not a place for patrons who are financially squeamish about opening up their wallets wide for a rare romantic dinner. On special occasions like Valentine’s Day, expect reservations to be in demand and planned dinner courses for two to cost upwards of $130.00. On other days, the price doesn’t fare all that much better - at around $85 per couple. It’s amazing how high prices soar for love-related events and merchandise during special holiday occasions like Valentine’s Day (just look at the price of online Valentine’s day flowers in my last post).

I’m not really a high end restaurant connoisseur (usually preferring to save my money by going elsewhere), but I’ve been there a few times and enjoyed the food and ambiance. Don’t get me wrong - a dinner at the Melting Pot is incredibly expensive, but for that special someone or for that special annual occasion, I think the experience is worth the financial cost. It’s not a place I could afford to visit every weekend, but I’d much rather spend money on such experiences than on material trinkets that depreciate over time. Just be sure to snap some photos while you’re there to immortalize the memories!

Fondue Restaurants Are a Place For Diners Who Like To Play With Their Food In The Dark

As the restaurant’s website proclaims, fondue is a fun and interactive dining experience. If you’re clumsy at planning romantic outings (like me), a restaurant like the Melting Pot pretty much does it for you. They keep the place very cozy and the lighting very dim to promote and encourage warm fuzzy feelings. The interactive part is where it gets fun. They pour the fondue broth in front of you and provide you with color tabbed skewers that you use to cook the fresh mushroom, garlic chicken, white shrimp, fillet mignon, ravioli, citrus pork tenderloin, and lobster. Sounds tasty doesn’t it?

The reason why I’m reviewing this restaurant chain is because it is where I took my girlfriend to for our very first Valentine’s Day dinner. I had a good time and I think she did too. That’s the stuffed monkey I gave her.

Warning - alarm - I am about to drive off the personal finance road and head into the entertainment marshes.

Well it’s been months since I rambled off topic but I think after having watched this year’s 2008 Super XVLII, I feel compelled to comment on the deteriorating quality and excitement of the once highly anticipated half time musical performances. It used to be that I always looked forward to watching the Super Bowl half time shows since they used to feature pretty good superstar performances. But unfortunately, what was once an exciting party bash has in recent years turned into a safe and cautious yawn fest.

Tom Petty’s Performance Was Decent But Too Safe For A Super Bowl Half Time Show

This year’s half-time show featured Tom Petty and the Heartbreakers, a band that probably caters more to the older generation than today’s kiddies, myself included. While I will admit he did pull of a pretty skillful performance and sang some great songs, I’ve never been much of a fan of his band’s music. I wasn’t really moved or pumped up by their performance as it wasn’t really much of a performance - mostly just a karaoke selection of his greatest hits.

I think future shows need serious tuneups. Ever since the whole Janet Jackson alleged wardrobe malfunction episode of Super Bowl XXXVIII in 2004, the quality of the halftime shows have been sliding downhill. We really need MTV to bring back the excitement that the event once had or I think we’re going to start seeing many viewers switch channels during halftime to watch some of the other competing shows airing at that time. Some cable network channels have actually started to seize on the waning interest in the half time shows by featuring unique commercial free programs during that very time slot.

I know it was controversial at the time, but I personally thought the whole wardrobe malfunction incident was a great thing for the Super Bowl - an unanticipated oops that generated buzz and front page excitement for an event that by definition should be glorified, edgy, and memorable. I’m not sure what other football fans and Super Bowl followers think, but in my opinion, the best half time show I’ve seen in the last few years was the one in 2001 - Super XXXV - that featured amazing stars like Britney Spears, N Sync, Nelly, and Mary J. Blige, as well as the ageless, but still sort of hard rocking Aerosmith. Laugh if you want - I would have loved to have been there!

The music performers in recent years featured boring artists like the Rolling Stones, and Paul McCartney - two utterly forgettable artists that most people probably didn’t even realize were still alive. Of course, it’s obvious why the Super Bowl planning committee continues to book such predictably bland artists to cater to the older folks and the family crowd - they are the ones who have the money to pay the exorbitant ticket prices to attend these type of events.