One man’s trash is another man’s treasure – but for these house flippers, the trash may just be… trash.
Best friends Kristy Etheredge and Rebecca Franchione are taking on some ambitious house flips in A&E’s new series, The Mother Flip.
The series, which will air on August 16, will follow Kristy and Rebecca, along with contractor Roy Salinas, as they transform some of the worst homes in Texas’ Hill Country into real estate gold for big profits.
‘Everything is bigger in Texas,’ the women noted enthusiastically. ‘And that includes the chance to make money in real estate.’
‘We’ve cracked the codes to flipping the worst houses in the best parts of Texas,’ the renovation experts and moms quipped, adding they ‘don’t do basic b**ch flips.’
In the first episode of the series, entitled Junkyard Gem, the duo score a look at an a hoarder’s three bedroom, two-and-a-half bathroom property located in Beckett-Meadows, a sought-after neighborhood in Austin, Texas.
The home is selling for $450,000, which according to Realtor.com, is below the median price for the area of $585,000 to $675,000.
‘The house is in a prime location near local parks and top-rated schools,’ Rebecca enthused.
Best friends Kristy Etheredge and Rebecca Franchione are taking on some ambitious house flips in A&E’s new series, The Mother Flip. Kristy and Rebecca pictured with contractor Roy Salinas
‘Three and two [bedroom houses] are selling for $725,000,’ Kristy incredulously added, with them both agreeing it doesn’t look at all like the ‘dump’ the real estate agent described it as.
However, the women’s excitement is short lived after they discover that the entire house is somewhat occupied – by garbage.
‘No, no,’ they both say in dismay, walking into the large foyer, with Rebecca declaring it was ‘the biggest pile of junk she’s ever seen.’
‘We’ve taken on some dirty, dilapidated houses before – but this is probably one of the worst I’ve ever seen,’ she added.
The foyer alone was filled with broken furniture, boxes, and miscellaneous junk that would need to be completely removed from the house before any renovations started.
After walking into the kitchen – complete with solid wooden cabinets – they noted a terrible smell, filthy appliances littering the counter, and no stove.
While both women noted the kitchen renovations will cost a lot, they also agreed a large, functional kitchen was important to potential buyers.
The duo noted the kitchen and primary bath are in major disrepair, and the backyard is an overgrown jungle, however, they noted the potential of the house.
In the first episode of the series, entitled Junkyard Gem, the duo buy a three bedroom, two-and-a-half bathroom in Beckett-Meadows, a sought-after neighborhood in Austin, Texas
However, the women’s excitement is short lived after they discover that the entire house is somewhat occupied – by garbage
The women say they’ve ‘cracked the codes to flipping the worst houses in the best parts of Texas,’ the renovation experts and moms quipped, adding they ‘don’t do basic b**ch flips’
Rebecca, Kristy and Roy spent a week clearing the home, and did the demolition in one day. They also found some outdoor equipment in a disused shed they planned to sell to recoup some of their costs
Kristy and Rebecca listed the home for $750,000 and they received three competing offers within a week of it going on the market
They ran through the costs, estimating they’d need to spend around $10,000 on landscaping, $12,000 on a bathroom renovation, and totally gut the kitchen and bathroom. They also noted they would need ‘four to five dumpsters’ to put all of the junk in, in comparison to the usual one, which would cost between $4,000 to $5,000.
Budgeting total renovations at $100,000, the duo would try and sell the newly renovated home for $750,000. Taking into account closing costs, they hoped to make $162,500.
Rebecca, Kristy and Roy spent a week clearing the home, and did the demolition in one day. They also found some outdoor equipment in a disused shed they planned to sell to recoup some of their costs.
They decided to pay for a staging team to set up for the home open, giving them them a date seven weeks from the day they started the renovation for them to come in.
However, they missed the deadline, leaving them scrambling to finish off the renovations while the crew moved the furniture in.
The women managed to put in the finishing touches just in time, showing the jaw-dropping transformation to their realtor.
The house, which was once dingy, dirty and full of garbage, now has natural light flooding in after its modern makeover, with the professional flippers even turning a loft into a fourth bedroom.
Kristy and Rebecca listed the home for $750,000 and they received three competing offers within a week of it going on the market.
They ended up selling it for $760,000, with the buyer also covering the realtor fees.
In total, they spent $576,000, giving them a $184,000 profit.
