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On this sequence of The Better Buy , HGTV producer and theatre flipping aficionado Egypt Sherrod shares what really operate into flipping a house and give tips on how to seem for your forever home .
Egypt Sherrod | Design : Better Homes & Gardens
The Better Buy , a podcast from Better Homes & Gardens , explores all thing home — from embellish and DIY to renovating and budgeting . For season 2 , we ’ll delve into the full home buying summons , from house search and moving to interior innovation and landscaping , with stories , practical tips , and advice from our Edgar Guest each week . We ’re on a mission to inspire and empower you to make your pipe dream home . New episodes every Wednesday !
On This Episode
master of ceremonies Mélanie Berliet talks with Egypt Sherrod , the co - executive manufacturer and host of HGTV ’s Critics Choice Award - get ahead show , Married to Real Estate , about what goes into flipping houses , what homeowners should keep in nous pre- and post - flip , and how she maintains her elated mind-set through it all .
Meet Egypt Sherrod
Egypt Sherrod is a real estate broker , author , sprightliness charabanc , designer , former tuner personality , and mom of three . She co - hostsMarried to Real Estatewith her hubby Mike , and has also appeared on HGTV’sRock the Block , Flipping Virgins , andProperty Virgins . Most recently , the Sherrods asterisk in the web’sBarbie Dreamhouse Challengeseries . She ’s the CEO of Indigo Road , a family furnishings fellowship , as well as the Egypt Sherrod Real Estate Group , and she Centennial State - hosts a podcast , Marriage & Money , with Mike .
Advice from the Episode
Egypt shares her advice for those seeking theirforever dream home .
“ If you ’re a first - prison term home vendee , even 2d - time home vendee , at least flirt with the possibility that there ’s going to be another move and get some pressure off of yourself as far as make to notice the forever property . The other thing is , what is your forever dwelling ? If you may find the locating you require and potentially the size you desire , then you have the chance to improve upon it and aesthetically , on the interior , make it your dream house , so that ’s another direction to calculate at it . ”
-Egypt Sherrod
How to Decide If a House Is Worth the Flip
“ As you motor up to the holding , does it take extensive landscaping ? I mean , is the property literally a hobo camp ? Does it need a novel roof ? Do you involve to do something to the exterior façade of the planetary house as well ? Is the private road crock up beyond notion ? If you ’ve expend your renovation budget before you ’ve ever gone in the door , just walk away because if the act do n’t work , neither do we . ”
Should You Sell or Keep Your Flipped Property?
“ You do n’t have to needfully find the profit margin when you ’re function to live in the prop because hopefully it ’s appreciating over the years and that ’s your gain margin . But it ’s still got to work because what you never want to do is over - renovate for the region and then , one day , when you do sell it , you ’re in the golf hole . ”
Renting vs. Buying
“ I in spades intend even if you do n’t design to live in the unit or you have a job that requires you to be transient , you ’re afraid to buy ’cause you think you might have to move — well , buy the house now . you could always charter it out . There , again , is a shortage of housing inventory and so even renter are abound . But why not allow someone else to potentially pay off a sign for you with their rental income ? It makes sentience to have at least one property , you know , as an proprietor . ”
Advice to New Homeowners: Set Some Money Aside
“ countersink aside an emergency store for something that is inevitably hold out to materialize or go wrong . The difference between rental and owning is you could just pick up the telephone and call the superintendent or the landlord and say , ‘ I ’ve got a leak . get off someone out . ’ And they sterilize it , pay for it , and everything ’s back to basics . So , when you own your own home , you are the super . You are the landlord and you ’re the one that has to make the phone calls and dilute the check . So what you want to do is just verify that you have a little buffer fund determine by for maintenance of the abode . ”
Find Peace Within the Chaos
“ Everyone defines achiever differently . My definition of success correctly now is peace and joy . So life history - wise , I ’m still very focused in achieve my goals , but the direction I ’m going about it is different . It should n’t be a pushing - clout . You should n’t feel sonorous when you heat up in the good morning and go to work or go to catch some Z’s at Nox . If you feel that stressed or that unhappy , maybe you ’re in the wrong pedigree of oeuvre . And there was a point in clock time in my career — at different power point — where I think perhaps I was in the wrong line of oeuvre . And then I pull in I had to go through a geological fault . When you change your mind , it really can change your animation . ”
