I've gotten tons of email and posts today about the A&E Flip This House scam, because yahoo and the AP finally ran a story (weeks later). So here's the repost. HP also got mentioned in the Kansas City Star on this subject. Nice to see the MSM chasing their tail (and the blogs).
I'm sorry. I thought today was May 16. I didn't realize it was HousingPANIC Christmas! The gifts just keep coming!
Fox News Breaks "Flip This House" Case
If you ever wanted to know whether the real estate investors who say they make a lot of money are telling the truth or not, don't expect to learn it by watching A&E's "Flip This House."
In a stunning investigative report, Fox News Atlanta actually did their homework and found out that Sam Leccima, one of the 'stars' of the popular Fix/Flip weekly show had been involved in staging phony transactions, performing shoddy renovations, and, in the most bizarre bit of fakery, planting and un-planting landscaping for the cameras.
Mr. Leccima, when asked about the allegations, responded, "It's a television show."
Fox Atlanta also poked fun at A&E for not even bothering to check that Mr. Leccima had recently had his real estate license revoked by the Georgia real estate commission, before the show began airing, and now may be under investigation by the Georgia Attorney General for securities issues.