Wednesday’s latest episode of The Deed: Chicago is another different spin on house flipping, because the CNBC series has Sean Conlon partnering up with a professional realtor. Unfortunately, that makes it even more frustrating that Nick lacks so much business sense.
Called “The Great Transformation,” the episode is interesting because like the season premiere, it shows viewers a different type of developer. It’s not just ordinary folks who think they’re going to build a real estate empire. Nick has an award-winning company, and based on the success of his clients, has decided to add flipping to his business portfolio. Unfortunately, after one good flip, he’s now punching above his station. Just because you’re great in one area of business, even though it’s related, doesn’t mean that success translates into flipping.
When Sean (and audiences) first meet Nick, he speaks openly about not having enough time and instead, trusting the job to his general contractor, who promptly ran off with his money. He’s also hired a “rehab consultant” that’s cost even more money. He’s one of the type of flippers who think they can make a profit while passing the work off to everyone else, and it’s Sean’s job to show him that investing in a flip takes more than cutting a few checks.
CNBC has made the first ten minutes of the episode available early, and you can watch them by playing the video below.
But “The Great Transformation” ends up being less about Nick, and more about the aforementioned consultant, who turns out to be the most egregious character who’s ever been on The Deed: Chicago or any other flipping show. He’s so callous and so not helping the situation that if you hadn’t seen the episode, you’d swear that somebody was making this guy up. Plus, who gives themselves a nickname?
And yet Nick has given him almost 10 percent of his budget to do…well, by the end of the episode, you still won’t really know what he’s done on this particular flip.
“The Great Transformation” is all about bad business. It’s Nick being able to run one successful company and then not being able to translate any of that acumen into the next effort. It’s him partnering with a consultant whose business doesn’t sound like much of one to a layman, let alone someone who should know better. This isn’t a regular flip; it’s a very convoluted deal, and it shows that professionals can make the same mistakes that novices do. But, they can also learn the same lessons, too.
The Deed: Chicago has broadened its horizons in season 2 and done a wonderful job so far of showing the different forms that real estate can take. So far this season, we’ve seen Sean partner on flips with a professional designer, a general contractor, and now a realtor. Each one has their own separate issues and brings that much more information to the viewers watching at home.
If nothing else, this episode will make everyone feel more comfortable with flipping, because audiences will see that no matter what your background or your resources are, you still have to take the same steps to success – like actually show up to your work sites and remember to put windows into your plans!
The Deed: Chicago airs Wednesdays at 10:00 p.m. ET/PT on CNBC.
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