If you are one of those people who like to lounge around the living room, watching shows about interior design, house renovations, or basically anything that involves house improvement, then chances are you know who Tarek El Moussa is. Tarek El Moussa is a real estate investor as well as a television personality. He is most famous for his HGTV show, Flip or Flop. Let us get to know more about El Moussa’s life and career and how he flipped his life to achieve the net worth he has now.
Economic Crisis and Beginnings of ‘Flip or Flop’
Tarek El Moussa started as a real estate agent and investor in 2002 when he was just at the young age of 21. Things were going great but everything changed when the economic crisis hit in 2008 and massively affected the real estate market. They had to downsize from their $6000/month home to a $700/month apartment. Imagine the sacrifice that they had to make!
Because of what happened, El Moussa along with Christina Haack, his wife during that time, decided to go to another side of real estate— flipping houses. El Moussa decided to film the process of flipping houses and sent the video as an audition tape to lifestyle network HGTV. His risk paid off and the show was picked up by the network in 2012. In that same year, Flip or Flop released its first episode. The show follows El Moussa and Haack as they go through the process of buying or acquiring the property, transforming it into something incredible, and selling it to the lucky buyers. The show is now on its tenth season.
Real Estate Companies and Education Courses
Since El Moussa has been in the real estate industry for quite some time now, he has also founded a number of real estate companies. During his run with his now ex-wife, Christina Haack, and colleague Pete De Best, the trio established The El Moussa Group, a real estate company based in California. When El Moussa and Haack divorced, the group dissolved and El Moussa founded his new real estate company, Tarek and Associates.
Aside from the profits and professional fees that El Moussa gains from flipping houses and the talent fees that he gets from Flip or Flop, he and Haack also started offering a course on real estate called Real Estate Elevated.
Tarek El Moussa’s Net Worth Now
Since starting his real estate career two decades ago, El Moussa surely has already established himself in his field. As of today, his net worth is now at $10 million! This is not that bad considering that they also spend a lot on the houses that he and his ex-wife flip.
Today, El Moussa lives with his current wife, Heather Rae Young, who is also a real estate agent for The Oppenheim Group and is a mainstay for Selling Sunset, a Netflix series. While El Moussa enjoys his new life with his new wife, profits and commissions on sales and closed deals also contribute to his current net worth so it’s safe to say that his net worth will still surely increase as more and more people continue to search for livable and beautiful homes.