Tarek’s final update about Kenny and Somer’s risky flip revealed that they had gone over budget and beyond the original schedule with the project.
Kenny and Somer initially made waves when they entered their very first flipping project on Flipping 101 with a risky flip worth over a million dollars.
However, Kenny and Somer’s inexperience led to several delays in the project. Thus, Tarek revealed in his final update that the flip had gone over schedule and over budget.
Kenny and Somer’s risky flip
Most of the amateur flippers who approach veteran flipper, Tarek El Moussa, for advice on their projects through his show, Flipping 101, start off with a relatively small project.
This is so that they can find their feet before really jumping into the flipping business.
However, Kenny and Somer, who appeared on the first season of the show in the “Style vs. Substance” episode, took a big risk attempting to flip a three-level, four-bedroom, two-and-a-half-bathroom home as their very first project.
To add to this, the house also featured a distinctly mid-century modern design, which limited their potential pool of buyers even more.
After his first walk-through, Tarek estimated that this flip’s break-even point would fall around the $1.5 million mark.
Flipping 101 Kenny and Somer update
Kenny and Somer quickly piqued the interest of Tarek and all of the fans who were anxiously waiting to see whether their risky flip would end up turning into a win or a loss.
Unfortunately, throughout the episode, Kenny and Somer’s inexperience really started to shine through.
Despite Tarek’s warnings, Kenny and Somer’s interest on their loan, construction costs and mortgage expenses kept piling up as the episode went on, because the construction and renovations on the house kept getting delayed.
At one point in this episode Tarek even told Kenny that he needed to “fire everyone working on this house!”
By the time that the episode ended, Kenny and Somer were still ignoring most of Tarek’s advice. However, they were also still struggling to find contractors who were dependable and very little construction had actually taken place to upgrade the home.
Tarek updated fans at the end of the episode that Kenny and Somer’s flip was 10 weeks over schedule and $90,000 over budget, but he has not said anything about the project since.
Unfortunately, none of the Flipping 101 season two episodes gave fans an update on the progress of this project either.
Though there is a possibility that Tarek may revisit Kenny and Somer’s flip in the third season of the show, it is safer to assume that the couple has probably sold or foreclosed on the home in the three years since this original episode aired.
The figures for Kenny and Somer’s flip
Kenny and Somer initially paid $1,250,000 for the impressive but extremely run-down house which they wanted to flip and decided that the comps in the area, which sold for around $1.8 and $1.9 million, would justify a total renovation budget of about $150,000.
With Tarek’s initial estimate, which included interest on their loan and closing costs, the couple stood to make about $260,000 in profit from a successful flip on the home.
However, with Tarek’s final update about the flip going a further $90,000 over budget, the couple would only have made around $170,000 in profit, even if they did manage to iron out all of the issues immediately after the episode aired.
How did fans react to this “Style vs. Substance” episode?
Kenny and Somer’s refusal to take most of Tarek’s advice on the “Style vs. Substance” episode, certainly frustrated Tarek and many fans of the show.
In fact Tarek even posted a clip from the episode with the caption “Man…sometimes these rookie flippers don’t take my advice. It’s okay if they don’t but many times they pay the price.” on his social media platforms. One fan replied, “Those people were giving me anxiety.”
All the details for season 3 of Flipping 101
It is unlikely that fans will ever find out what ended up happening to Kenny and Somer’s flip after their episode aired.
However, there is still a chance that the new season of Flipping 101, which has already been confirmed, will reveal more details about this flip and a variety of new, never-before-seen projects.
Tarek confirmed that he was already filming content for the third season of the show in an Instagram post, which was posted on 24 May 2022.
This means that fans can expect to find this new season on their televisions and streaming platforms pretty soon as the show will likely start airing before the end of the 2023 year.