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The #1 Tip from Flip or Flop Star Tarek El Moussa? Lose More Money!

You’ve probably seen “Flip or Flop” before. Even if you’re not a home flipper, it’s hard to not get sucked into the glitz and glamor of watching Tarek El Moussa and his team rip out old fixtures from the 1950s and replace them with brand new, beautifully designed upgrades. Tarek is one of the most recognized home flippers in the world and has inspired thousands of others to start building wealth through real estate. He’s an inspiration to all of us, but how did he get to such a peak point?

Tarek wasn’t a great flipper right out the gate. He electrocuted and burned himself on his first deal, but that wasn’t enough to deter him. Before the great recession, Tarek was living large, making forty-thousand dollars a month in his early twenties. But when the crash came, he had to sell everything and start from scratch. After attending a real estate seminar he caught the flipping bug and realized he needed to invest in real estate full-time.

After a successful first flip, he pitched the idea of “Flip or Flop” to different television networks, with HGTV finally giving him a chance. He describes the first season of “Flip or Flop” as working eighteen-hour days, constantly stressing, and forcing himself to build a business, not just a side hustle. This allowed him to delegate by buying more flips and building wealth faster. Funnily enough, his main piece of advice for flippers isn’t to try and make more money—it’s to start losing it instead.

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Join BiggerPockets for FREE:
https://www.biggerpockets.com/signup?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Other Investors in The BiggerPockets Forums:
https://www.biggerpockets.com/forums?utm_source=youtube&utm_medium=description&utm_campaign=none
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Grab David Greene’s Book, “Long-Distance Real Estate Investing”:
https://store.biggerpockets.com/products/long-distance-real-estate-investing?utm_source=youtube&utm_medium=description&utm_campaign=none
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Get Your Copy of “The Book on Flipping Houses”:
https://store.biggerpockets.com/products/the-book-on-flipping-houses?utm_source=youtube&utm_medium=description&utm_campaign=none
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Do You Make These 7 Deadly House Flipping Mistakes?
https://www.biggerpockets.com/blog/2013-04-28-deadly-house-flipping-mistakes?utm_source=youtube&utm_medium=description&utm_campaign=none
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Invest with Tarek and His Team:
https://temcapital.co/
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Follow Tarek on Instagram:
@therealtarekelmoussa or https://www.instagram.com/therealtarekelmoussa/
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Connect with Rob (Robuilt) on YouTube, Instagram, TikTok, and Twitter:
Youtube: https://www.youtube.com/c/Robuilt
Instagram: https://www.instagram.com/robuilt/
TikTok: https://www.tiktok.com/@robuilto
Twitter: https://mobile.twitter.com/robuiltchannel
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Connect with David and Rob on BiggerPockets:
David: https://www.biggerpockets.com/users/davidgreene24?utm_source=youtube&utm_medium=description&utm_campaign=none
Rob: https://www.biggerpockets.com/users/robuilt?utm_source=youtube&utm_medium=description&utm_campaign=none
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Follow David on Instagram:
@davidgreene24 or https://www.instagram.com/davidgreene24/

Episode 653

Show notes at: https://www.biggerpockets.com/blog/real-estate-653?utm_source=youtube&utm_medium=description&utm_campaign=none

00:00 Intro
02:00 Quick Tip
02:40 Losing Everything and Building a Flipping Business
08:47 Creating “Flip or Flop” as a Novice
16:58Filming While Flipping and Delegating Everything
27:31 Tarek’s 5 Steps to Flip a House
40:30 Knowing Your Real Estate Market
42:07 The Biggest Mistake Most Flippers Make
48:20 Design Tips That Will Beat the Comps
54:44 Real or Reality
01:02:49 Connect and Invest with Tarek
01:04:02 Wrapping Up Our Talk with Tarek

#biggerpockets #realestatepodcast #ep653

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