Ep 3. That New Flipper Smell

In episode 3 of Flipping 101, a new flipper with no prior experience enters the scene. Tarek El Moussa takes on the challenge of mentoring him through his first flip in hopes of turning a profit. The episode, aptly titled "That New Flipper Smell," follows the duo as they navigate through the ups and downs of the house flipping business.

The episode begins with Tarek meeting the new flipper, whose excitement for the business is palpable. Tarek is impressed with his enthusiasm, but also notices that he lacks basic knowledge about the process and market trends. Tarek takes him under his wing and starts walking him through each step of the flipping process.

The new flipper gets his first lesson in location scouting, where Tarek shows him how to look for investment properties with potential. They visit a house that the new flipper believes has a lot of potential, but Tarek isn't convinced. He advises the new flipper on why this particular house is not the best investment opportunity.

Next, Tarek walks the new flipper through how to accurately estimate renovation costs. Tarek breaks down exactly how much money should be spent on each aspect of the renovation. The new flipper's inexperience shines through during this stage, as he realizes that there is a lot more to consider when making these decisions than he previously thought.

As the renovation begins, Tarek ensures that the new flipper sticks to the budget and timeline. They encounter some unexpected issues, as they typically do in the house flipping business, but they work together to find solutions. Tarek makes sure that the new flipper learns from each challenge and mistakes that they face along the way.

In the latter half of the episode, Tarek teaches the new flipper about staging and selling the finished product. Tarek emphasizes the importance of staging in order to make a sale and how it is possible to sell a house quickly by creating an emotional connection with potential buyers.

Finally, it's time to put the house on the market. The new flipper is nervous about the final result, but Tarek reassures him that they have done everything right. The episode ends with the reveal of the finished product and Tarek and the new flipper sharing their excitement about making a profit on their first flip together.

Overall, this episode offers valuable insights into the entire house flipping process for both new and experienced flippers. Tarek's guidance and expertise proves to be incredibly valuable to the new flipper, who is able to walk away with a newfound understanding of the industry. "That New Flipper Smell" is a great addition to the Flipping 101 series and is sure to provide viewers with useful tips and tricks for their own house flipping endeavors.