Property Wars Season 1 Episode 2
Property Wars
Season 1

Ep 2. Getting Burned

  • TV-PG
  • July 12, 2012
  • 21 min

Property Wars is a reality television show focused on the cutthroat business of buying and selling foreclosed homes in the Phoenix metropolitan area. In season 1 episode 2, entitled Getting Burned, a group of real estate investors, including Scott Menaged and Doug Hopkins, compete in a heated auction to acquire a recently foreclosed property in Phoenix.

As the episode opens, the investors gather outside the property and assess its potential value. The two-story home, located in a desirable area near downtown Phoenix, appears to be in decent shape, but needs significant work to prepare it for sale. The investors take note of various features of the property, including its attractive architecture, large backyard, and multiple fireplaces.

When the auction begins, tensions run high as the investors bid against each other, each hoping to acquire the property at the lowest possible price. The bidding starts at $100,000, and quickly escalates as the investors compete for the home. Menaged and Hopkins, two of the most experienced investors, are particularly aggressive in their bidding, trying to intimidate their competitors and drive up the price of the property.

Ultimately, Menaged emerges as the winner of the auction, securing the property for $195,000. However, the victory is bittersweet, as he realizes that he may have paid too much for the home. Several of the other investors express their doubts about the property's potential value, citing the high cost of renovations and the sluggish Phoenix housing market.

As Menaged begins the process of renovating the property, he faces a number of obstacles. First, he discovers that the home's electrical and plumbing systems are outdated and need to be completely replaced, at a cost of tens of thousands of dollars. Then, while working on the roof, Menaged and his crew accidentally start a small fire, causing minor damage to the property. Despite these setbacks, Menaged remains determined to complete the renovation and turn a profit on the sale.

Meanwhile, Hopkins and some of the other investors are busy searching for their own properties to buy and renovate. Hopkins comes across a promising property in a neighborhood considered up-and-coming, and is able to acquire it at a significantly lower price than Menaged paid for his property. Hopkins believes that the property has strong potential for resale, and begins working on the renovation immediately.

As the episode nears its conclusion, tensions rise among the investors as they prepare to sell their renovated properties. Menaged, still struggling with the high cost of his renovation, worries that he may not be able to get a good return on his investment. Meanwhile, Hopkins is confident that his property will sell quickly and at a high price.

Overall, Property Wars season 1 episode 2, Getting Burned, gives viewers an inside look at the high-stakes world of real estate investment, as investors compete to acquire lucrative properties and turn a profit on their renovations. With its high drama and fierce competition, this episode is sure to keep viewers on the edge of their seats.

Description
Watch Property Wars - Getting Burned (s1 e2) Online - Watch online anytime: Buy, Rent
Property Wars, Season 1 Episode 2, is available to watch and stream on Discovery Channel. You can also buy, rent Property Wars on demand at Amazon, Vudu, Apple TV online.
  • First Aired
    July 12, 2012
  • Content Rating
    TV-PG
  • Runtime
    21 min
  • Language
    English