We are back with David and James still at odds over how to market their $48 million listing. Since the two of them have been pursuing this listing for years, you would think they would have thought this through well before the listing was signed, but that is not the case. David will not even speak to James in the office.
Finally, David and James make up and get to do a few showings.”Dr. Sam” comes to look at the property. He is supposedly a cosmetic dentist to the stars. I don’t for a second believe he is a qualified buyer. There are not enough teeth in the world for that. This reminds me of the time Nene pretended she could afford $9 million houses in Miami.
The Brits go out to dinner with their female counterparts and Mauricio Umansky and Kyle Richards. David relates the Altman encounter to Mauricio. Mauricio and Altman apparently do not get along anymore.
Josh Flagg is in a wheelchair. I’m not sure why. He seems to have settled on a story that he fell off a stool while dusting some bottles of vodka. Josh strikes me as the type to pay someone to do that sort of thing. It seems to have caused a sciatica flare up. Josh is milking this injury for all it is worth.
Josh Flagg is taking his friend to look for an investment duplex in Venice. It’s very near Google and the beach. It seems like a great place for an investment rental. The main house would rent for about $9K a month and the smaller unit would rent for about $3,800. During all of this, Josh is being pushed I a golden wheelchair and playing up the poor pitiful me act. The next place they look at is a no for me because you can’t park your car at the house, it’s accessible only by a walking path. I can’t see carting in groceries. I can barely do that from my driveway. The price is $2.3 million and the rent is similar to the other unit, allegedly. The second unit is TINY. But it has an adorable rooftop deck. The third property is $2.6 million. The two units are 1,500+ square feet each and would rent for about $7K per unit. Financially, this already sounds like the best deal. Four bedrooms 5.5 baths and a rooftop deck. It’s a true duplex with two identical units. It’s perfect if the rental estimates are accurate.
Josh’s friend says the third place is out of his price range. Josh offers $2.350 million and then $2.450 million. Suddenly his buyer wants to offer more. He’s worried about losing the property. The sellers jump on the $2.450. The guy got a steal. He had both units rented to the same guy within five days. $12,000 a month for both for three years. Not too shabby.
Josh Altman goes on a listing appointment for a house in the Hollywood Hills. The curb appeal is nonexistent. The front of the house is hideous. But the inside is stunning and the dramatic views are to die for. For the first time in the history of any Million Dollar Listing franchise I have ever seen, the developer wants a much lower price that the agent. Altman tries to explain that the developer is $200 -$300 per foot below where he should be. The developer allows Altman to list it just under five and a half million. Altman has a successful brokers’ open for the Hollywood Hills house. The first offer that comes through is a leasing offer which the developer will not be interested in. However, they want a two-year lease at $40K. That’s almost a million dollars. The developer wants nothing to do with the lease offer. He tells Altman he is done with him. Altman goes outside and gets a client who will buy the house at $5.5 million with the promise of the two-year million dollar lease. Altman gets a sales commission and a lease commission.
Altman and his girlfriend are out at a restaurant because Altman is stalking the Brits to give them shit. He is still pissed they trashed his latest listing and called it overpriced. Altman sends over a bottle of champagne. Josh comes over and calls them “the Harry Potter twins” and says the champagne is to celebrate the sale of the listing they mocked. As it turns out they sell price was around $500K less than the list priced. The Brits point out that they told him it was over priced. Altman says that their Faring property is overpriced by $15 million. He tells them if they ever disrespect one of his properties again they will have a problem. He then says their dinner is on him and walks away. If it were me, I’d order three more meals to go. LOL.
Altman’s girlfriend is mad at him because he is planning wedding things with his brother instead of including her. Because, she is THE BRIDE.
Next week: Altman does some crazy stuff…