Professional house flippers Dan and Melinda Wiafe explore the Tulsa real estate market for their next property to invest in. After finding a great house up for auction in Owasso, OK, Dan buys it for more than he and Melinda planned on. To make matters worse, they discover the house is in need of excessive repairs, and they're forced to empty their savings in order to make the renovations to flip it for a profit.
Dan and Melinda want to flip a home in Midtown, OK, and drive through the area making cold calls to all the for sale signs they come across. They find a great property to flip, and after an impressive start to the renovations, including adding a beautiful outdoor kitchen, they find a termite infestation that threatens to eat through the profit they were hoping to make.
In order to keep the purchase price down on a large property in Broken Arrow, OK, Dan and Melinda agree to take it sight unseen. But as they begin to implement their renovation plans, they run into severe water damage and a crumbling foundation that threatens to put the entire project on hold. The fate of their budget and their schedule hangs in the balance, pending the success of their contractor's fixes.
Dan and Melinda purchase a house in Highland Park, OK, with a dated design and an odd floor plan that quickly becomes a money pit. With a new issues that seem to come at every turn, they do their best to push forward with their new layout and fully modernize the home in a tight six-week time frame.
Dan and Melinda agree to work with fellow house flippers Ian and Amy on a property in Woodland Hills, OK. They have big plans, including knocking down multiple walls to give the home a new open concept design, but some of the walls essential to their plans are load bearing and cannot be removed. Plus, a mold infestation threatens to blow their budget out of the water, so they're forced to compromise on where to cut costs.
Dan and Melinda purchased a home in the Brookside area of Tulsa, OK, which they're unable to rehab due to a shortage of funds. So they find an investor who will front the capital for the renovations and split the profits when they eventually flip the property. But the investor wants to see a return more quickly than they're prepared for, forcing Dan and Melinda to push the rehab into high gear. They walk a scheduling tightrope while facing unexpected challenges along the way.
Melinda convinces Dan to take on a property in Brady Heights, OK, the town where she grew up. The house is a total gut job, and the whole project nearly goes off the rails when they find out they also need a new roof, which was not in the budget. However, they remain positive and motivated because they're investing in an area where property values on the rise, and it's also very important on a personal level to Melinda.
Melinda takes the lead when she scopes out a property on her own in South Tulsa, OK, while Dan is away on business. When he finally does a walk-through of the house, he changes her design plan against her wishes, and it causes a bit of friction for the couple. But they learn to compromise and push forward as a team for the good of their relationship and the flip.
Dan and Melinda jump at an opportunity to purchase a property in Jenks, OK, before it goes to auction. After working on the renovations for two weeks, buyers see the house and make a down payment to Dan and Melinda, which is great news so early into the process. At least that's what they thought, until the buyers start making creative demands that are both expensive and contrary to Melinda's vision.
Dan and Melinda purchase a property in South Tulsa, OK, that looks like it's straight out of the 1970s. They're forced to take down a ton of wood paneling and run into a serious foundation issue, but their biggest concern is with the unreliable comps in the area. There's much more risk involved when it comes to pricing and selling a property, which is a very stressful proposition for these house flippers.
Dan and Melinda take on their most ambitious flip yet in the historic Riverview district of Tulsa, OK. They plan to fully restore a 1920s Tudor revival and take on all the challenges that come with updating an historic home with modern amenities while staying true to its original style. So they hire a contractor known for his work in the field and invite a local historian to help keep the project on point and attract as many buyers as possible at the open house.
After Dan wins an auction for a home in Briarwood, OK, Melinda thinks their design plan should be fairly straightforward. But since buyers in the area are mainly young families, Dan decides to repurpose one of the bedrooms into a playroom to help drum up a quick sale. Melinda agrees and puts her creative energies into making the playroom one of the top-selling features of the house.
Nerves run high when Dan and Melinda purchase their largest flip to date -- a 5,000-square-foot mansion in Bixby, OK. With a renovation budget that's nearly double what they're used to, finding water-damaged hardwood flooring in the kitchen stings more than usual because they're already spread so thin. It's going to take every ounce of money and manpower they can muster in this flip to complete the renovations and make a sale.
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