You are here
Egypt Sherrod - Flipper TV Host Trend Spotter
If you’ve got Egypt Sherrod in your corner, you can consider yourself one heck of a lucky home flipper.
As the host and executive producer of HGTV’s “Flipping Virgins,” where she coaches real-estate newbies on how to navigate their first flip, Sherrod brings a level of expertise to the process that’s hard to match. She’s the a best-selling author, a motivational speaker, a radio host (she’s interviewed the likes of Oprah and Leonardo DiCaprio) and a realtor with legions of home-flips to her name.
She’s currently filming Season 3 of “Flipping Virgins” and talks about how the flipping game has changed in recent years in Atlanta. “Housing inventory in Atlanta is extremely tight now. There are investors everywhere, people are moving here because of job opportunities. Homebuilders can’t get homes up fast enough. People are open to fixer-uppers as their primary residences. There’s just more competition for properties now.”
As an advisor to beginning flippers, Sherrod acknowledges that, because of stiff competition, flippers have to think outside the box with their acquisitions. “You have to change your strategy when the market changes. Now we’re seeing investors turning businesses into single-family homes. Flippers are taking on larger-budget projects. Instead of flipping a three-bedroom bungalow, they add a second story to it. These days, that’s where the money is.”
“You need a dream team,” she advises. “Develop relationships with realtors and lenders. They will look at the numbers for you. Before you give in to violins that play in your head when you see a house that you think is a good flip house, remember that it might be a dud if its numbers don’t make sense. As an investor it all comes back to the formula. No matter how much you like a home, if the profit isn’t there, don’t flip it.”
Sherrod helps Atlantans learn about home buying and investing through her Egypt Cares Family Foundation. “I give people resources they need to learn about wealth building. We do workshops, boot camps, classes. It’s a labor of love for me.” Learn more at EgyptCares.org