Flip That House--Ummmm?

[Dwayne Buckner]

Did anyone happen to catch Flip That House tonight? It featured a Houston home being flipped by a guy named Chris Mastrangelo. He did a very high end flip including a swimming pool complete with fiberoptic lighting, Brazilian hardwood floors, Carrerra marble kitchen counters, above mount bathroom sinks, top of the line appliances, flat panel wall mounted TVs. He claimed the total flip cost $98,000. Can you flippers say if that is a believable cost for that job? What would a nice pool like that cost?

Also, he called on real estate agent Sherif Ali from nearby Habitation Realty. Chris was bursting at the seams to find out what the final product should sell for. Odd--I looked that company up and Chris is the PRESIDENT/OWNER of Habitation Realty. Not saying he did anything illegal, but he did not appear to be Sherif's business partner in the episode. Seemed fishy.

Sherif told Chris that in this neighborhood (Rice University area; Rice Military to be exact), he would anticipate to sell the place for $700,000. Bought it for $315,000; renovated for 98k, carrying costs 66k. Have to give him credit there. A lot of shows don't include their carrying costs in the their figures.

Through a little detective work, I located the property. 5301 Blossom Street, Houston, Tx 77007. Chris claimed the house was 2,150 sq. ft. on the show. Realtor.com says it is 2,597. I'm thinking 2,150 is probably correct.
In any case that is WAY above the local price per sq. ft.

Zillow now shows the home as "recently sold"--price undisclosed. It would be extremely interesting to see what the selling price. If anyone can locate it, please post it.

Thanks,

Dwayne