<p>The lawsuit is on.</p>
<p>[Flip</a> This Lawsuit](<a href=“http://www.flipthislawsuit.com/]Flip”>http://www.flipthislawsuit.com/)</p>
<p>That’s too bad. I guess this explains why Trademark isn’t on anymore. I always liked Richard and Ginger best. Well, maybe I liked those hot guys from New Haven a little more. ;)</p>
<p>They thought they had a verbal agreement to share revenue with a corporation like A&E? What kind of person would rely on a verbal agreement for a business like this?</p>
<p>Southern gentleman.</p>
<p>Verbal contracts aren’t worth the paper they’re not printed on</p>
<p>Warning: Editorial comment </p>
<p>Flip This House is the absolute epitome of why this country is in such a mess. Buy a house from someone who is desperate and needs out. Agonize over paint selection and put in shiny refrigerators. Make $150,000 in 2 months. Contribute nothing to the better good, but get to drive around in a Mercedes. The American dream. May it and all associated with it be plowed into the ground along with shows that portray people who weigh 600 lbs as heroic.</p>
<p>^^ I think flipping houses is fine if people know what they’re doing but too many people watch these shows, think it’s a breeze and they’ll make big bucks, thought the housing market everywhere would only ever increase, leveraged themselves to the max, and gave it a shot. They often paid too much in the first place, spent too much to fix it up, had unrealistic expectations of the sale price, and held onto it for too long and ended up going bust and defaulting. None of these people nor the lenders should be bailed out.</p>
<p>People tried to do this with two houses neighboring mine - both ended up ‘stuck with the houses’ since they spent too much time and the market turned down.</p>
<p>Flipping has been around forever and will go on–you just won’t see so many amateurs doing it. My old boss was doing it on the side back in the 80’s. There is nothing wrong with giving somebody cash who wants it badly. Obviously nobody else is making a better offer.
Yes the rewards were briefly greater than risk but that sure did not last very long. Most flippers are happy to make 10-20% profit on the deal. For that profit there is lots of risk so it’s not for the underfinanced. What it does do when done right is take an eyesore and turn it into a productive attractive property for a family to live in. That’s not a bad thing.</p>
<p>Winner winner, chicken dinner</p>
<p>From Flip this lawsuit site</p>
<p>I just received word that the jury came back with a $4,000,000 verdict for Trademark Properties and Richard Davis in their dispute with A&E Television Networks. </p>
<p>Congratulations, Richard and the Team Trademark! </p>
<p>EDIT (3:52PM): The Charleston Post and Courier has an update-</p>
<p>A federal jury in Charleston awarded real estate investor Richard C. Davis more than $4 million in damages today in a trial stemming from the “Flip This House” reality television series.</p>
<p>Davis sued cable network A&E, saying he had an oral agreement with A&E to split revenues from the program he created. Davis, of James Island-based Trademark Properties Inc., said he was never paid.</p>
<p>A&E disputed that any agreement existed. Its lawyers declined to provide immediate comment on the ruling, which came after more than five hours of deliberation.</p>
<p>“I’m very pleased with the verdict,” said Mount Pleasant attorney Frank M. Cisa, who represented Davis. “These cases are very tough to prove.”</p>
<p>[Flip</a> This Lawsuit](<a href=“http://www.flipthislawsuit.com/]Flip”>http://www.flipthislawsuit.com/)</p>
<p>I don’t understand this lawsuit. I used to watch the show occasionally before Cablevision took it off the least expensive lineup. People used to be shown doing most of the work themselves on the cheap with a lot of drama thrown in. Did this developer really do the work?</p>
<p>This was the original flipper show–all the rest came after. These guys used contractors for most work.</p>
<p>Thank you for the clarification Barrons.</p>