Spike TV has picked up six episodes of a new, original series, Flipping Foreclosures, it was announced by Tim Duffy, Spike TV’s senior vice president, original series. The half-hour, unscripted series will premiere this fall and is executive produced and created by Dave Broome (Biggest Loser) and 25/7 Productions.
Flipping Foreclosures will showcase the young, entrepreneurial duo of Utah-based Doug Clark and Mike Baird, who constantly roll the dice with their financial fates by buying and flipping foreclosed property. In each episode, the hosts will walk viewers through the often-tenuous process that is involved and provide tips and analysis along their journey.
“The heart of the series is our enterprising, ambitious hosts who look to persevere in the financially precarious world of real estate,” said Duffy.
The show will first spotlight the fierce, daily bidding war at housing auctions where Doug and Mike acquire foreclosed homes often sight unseen. Following the purchase, cameras will follow them as they enter a newly purchased house, where you never know what’s behind the door: a biohazard, a meth lab, or a squatter who just doesn’t want to leave. Time is of the essence as they have to clean up the place, renovate it, stage it, get it to market and flip it. It’s a race against time because every day means thousands of dollars out of their pocket.
“When Doug and Mike fix up a once-dilapidated property, the positive effect on a community is tremendous,” said Sharon Levy, executive vice president of original series and animation for Spike TV. “Their efforts help strengthen a neighborhood which, in turn, has shown to help reduce crime.”
The series will be shot on location in Salt Lake City this summer.
Stay tuned to Spike.com for more info on Flipping Foreclosures!