Right About Now with Ryan Alford - Tarek El Moussa - Real Estate Investor and Television Personality
Episode Date: May 3, 2022Welcome to another episode of The Radcast! In this week’s episode, host Ryan Alford talks to Tarek El Moussa, Real Estate Investor, and Television Personality.Tarek discusses what he did after losin...g his sales book, how he got started in real estate, and his defining moment. He also describes why he chose real estate as a career, his initial expectations about it, and whether or not his goals were achieved so far. Tarek explains how he developed certain tactics, which he employs step-by-step, as well as how social media has helped him in his job throughout the pandemic.As the host of HGTV's “Flip or Flop”, he reveals what it's like to be on a reality show, how real it really was, and the extent of staging that was done to make the show more interesting. Tarek also gives an overview of his online real estate school, “Home Schooled by Tarek”He also shares some trends in real estate and provides advice for those considering investing in properties.If you want to learn more about Tarek El Moussa, check his website https://www.therealtarekelmoussa.com/ and his Real Estate School: https://www.homeschooledbytarek.com/. Follow his Instagram: @therealtarekelmoussa and Facebook: https://www.facebook.com/TheRealTarekElMoussa/. If you enjoyed this episode of The Radcast, let us know by visiting our website www.theradcast.com. Check out www.theradicalformula.com. Like, Share and Subscribe to our YouTube account https://bit.ly/3iHGk44 or leave us a review on Apple Podcast. Be sure to keep up with all that’s radical from @ryanalford @radical_results @the.rad.cast. If you enjoyed this episode and want to learn more, join Ryan’s newsletter https://ryanalford.com/newsletter/ to get Ferrari level advice daily for FREE. Learn how to build a 7 figure business from your personal brand by signing up for a FREE introduction to personal branding https://ryanalford.com/personalbranding. Learn more by visiting our website at www.ryanisright.comSubscribe to our YouTube channel www.youtube.com/@RightAboutNowwithRyanAlford.
Transcript
Discussion (0)
At the end of that free seminar, you know, I'll never forget, I walked up to him and I handed him a piece of paper.
You know, I said, hi, my name is Tarko Musa. You don't know who I am today, but one day you will.
They're missing all the real shit. I spent 10 years of my life miserable and alone working, you know, 16 hour days to make this life happen.
And that's really what it takes. The key to success is getting comfortable doing what's uncomfortable.
So what was the lesson my dad taught me? Yeah. You don't get shit for free. No one's going to do it for
you but you. And the only way to get success is to put in the work.
You're listening to the Radcast. If it's radical, we cover it. Here's your host, Ryan Alford.
Hey guys, what's up?
Welcome to the latest edition of the Radcast.
We're talking houses today, my friend.
We're talking radical flipping, radical entrepreneurs.
We're talking Tarek El Moussa.
What's up, brother?
Not much, buddy. How you doing?
Hey, man. Just trying to get the hyperbole going over here.
All the hype for my friend Tarek.
I've been watching from afar.
My wife doesn't let us miss a single episode of Flipping 101,
which I know you're the host of, and of course, the historic flip or flop.
So it's good to talk to you, man.
You guys are going to be busy because there's
like i think like almost 200 episodes dude we've seen them all i think like we're getting like
around to reruns you know hgtv's got us uh got us got us hooked up but uh how's life treating you
brother life's good you know uh heather and, we just had our five month anniversary, which is very exciting. We got married last year. Kids are doing fantastic. We're excited that we're
going into spring, buying as much real estate as I can, teaching as many people as I can and just
having a lot of fun. I know it looks like it. I've always liked your kind of spirit on the show.
There's kind of like that. I don't know what it is. You have a real approachable quality to you.
I think feel like they've you come off knowledgeable, but you never come off like arrogant.
It's just like, I don't know. I think there's a real good. I think that's why the show was so popular and had the longevity.
I mean, you guys, dude, people watch it on TV and they're like, is this guy can do it?
I mean, shit, I can do it. That's like if this guy can do it i mean shit i can do it that's why like if this guy can do it
anybody could do it actually most people don't know this but i actually learned how to flip houses
while filming the first season of flip or flop i had no idea how to flip houses hey you pulled it
off hey man maybe you got some acting possibilities too then right is that what you're saying? Hey, and I appreciate the branding. I like the TEM hat. Very good. Hey, as a marketer at heart, I appreciate the branding nod.
for a while now, as you said, I've done all these episodes. And over the years, I've also had people coming up to me. They're like, hey, Tarek, we want to partner with you. We want to buy real estate
with you. And honestly, my answer was always no, because I was like, well, I don't really need
partners in to go flip a house, right? I can do that on my own. So, you know, I'm just obsessed
with real estate. And then I created the company TEM Investments. And TEM Investments gives
investors the opportunity to partner with me. And we're out buying apartment buildings right
now. So last year, we bought three apartment buildings in Arizona. And in a few weeks,
we're closing on 190 unit in Mesquite, Texas. So if anyone wants to partner with Tarek,
you got to check out TEM Investments. There we go. I like it. Good plug. And I love the branding.
You know, I had Grant Cardone on last month and he was everybody's the real estate
thing's hot, man. Let's just be honest. Like it's like crazy.
Every the smartest guys I know. And you know,
it sounds like you might fall in this camp, Tark.
The Grant's telling me in my ear about real estate.
You're talking about it. I mean,
what is it about real estate right now? That's just so hot.
I mean, you know, there's so many amazing things about real estate.
Like one is people are extremely excited about the appreciation of real estate, right?
But at the same time, the last couple of years, we've seen the fastest appreciation, I think,
U.S. history.
So that's one thing to look at.
But, you know, real estate is an amazing thing.
You can depreciate against your taxes.
You get appreciation.
You get cash flow.
You get leverage.
And it's just a fun and exciting business.
Yeah.
Let's back up for a second, Tarek.
I do want to, and I'm sure you've done these in the past, but I do want our audience to know, obviously, you've been on reality TV for 10 plus years.
Yeah.
I'm sure most have heard the name, if not,
but I'd love to give a little bit of that organic story for you from just that professional journey.
Yeah, sure. So I'll give you the three to four minute version. I got out of high school
and at 19 years old, I was selling kitchen knives. Most people know Cutco kitchen knives because half the world has sold those knives.
And I ended up losing my sales book.
And inside my sales book had all my leads, all my contacts.
And back then when I was 19, that's how I made my living.
So I lost my sales book.
I was going broke.
I didn't want to get a job.
I was at a Washington Mutual Bank.
And I was just standing there at the ATM machine. And I was like, I was like, shit, you know, what do I do now want to get a job. I was at a Washington Mutual Bank. And I was just standing
there at the ATM machine. And I was like, I was like, shit, you know, what do I do now? I have
no money. And I swear, true story. I looked up to the right and there was this big crooked sign
said Wise Old Owl Real Estate School. And I had a defining moment. I call defining moment a moment
in your life that changes the trajectory of your life. So I was like, shit, man, if I can sell knives, I can sell houses. So I walked right over to that crooked sign, opened the door,
walked in and I signed up for real estate classes. And it was a rocky ride. So I was officially
licensed, I believe, at 20. And my first six months in the business, young, hungry, motivated,
excited. You know, I completely struck out. I didn't get one sale
and I wanted to quit real estate and I hated school and I was going to go back to school.
And randomly there was a seminar coming into town by the name of a guy, Mike Ferry. And it was a
real estate coaching seminar. It was a free seminar. And I was 20 years old kid. You know, I just got out of high school.
I didn't even know that coaching existed in the business world.
You know, for me, a coach was a baseball coach, a football coach, a hockey coach.
Right.
Like, I didn't even know you can get a real estate coach.
So I go to this free seminar.
And by the end of this thing, like this Mike Ferry guy has me convinced I'm the smartest
son of a son of a bitch alive.
I'm going to be the most successful guy alive.
He convinced me I was unstoppable.
And it was like all mindset.
It was wild.
And at the end of that free seminar, I'll never forget,
I walked up to him and I handed him a piece of paper.
I said, hi, my name is Tarko Musa.
You don't know who I am today, but one day you will.
By the way, he knows who I am now.
He does.
I bet he does. Yeah, and so what I did
is I signed up for one-on-one coaching. And back then it was a thousand bucks a month. And like,
I'm like, where am I going to get a thousand bucks a month? Like that was like a zillion
dollars back then. So of course I put it on my credit card. And for me personally, I was going
through a really rough period in my life because I had just broken up with my girlfriend my parents got divorced my mom rented out my bedroom because she needed money so
i moved into her garage and so now i'm and it was a real garage it wasn't converted like there was
cockroaches and spiders like my dirt bike was in there like wd-40 can it was a garage and it was
crazy what happened so i literally went all. I put this on my credit card.
And if my coach told me to do something, I would do what he told me times 10. Whatever he told me to do, I would blow the goal out of the water.
And my life felt like it changed overnight.
So I believe it was within three or four months, I went from earning $0 in six months to $120,000
in commissions in a very short period of time, which averaged,
I think it was like 30, 40 grand a month. So imagine being like a broke 20 year old kid.
Next thing you know, you're making 40 grand a month. And it was like, you know,
so within, within, I think four or five months, I moved out of that garage. I bought almost a
million dollar house up in like NIM Hills, Orange, California, and had no furniture. I had nothing.
I moved into this house and I thought I made it.
I thought I was king of the world.
And you know what?
I was doing really well with real estate, and I built my business through prospecting,
pretty much cold calling expired listings and door knocking.
I just hustled, man.
It was just a hustle.
And 2007 came around.
2006 came around.
White me out.
I had to sell my house.
I had to sell my car.
I had to sell everything I had.
And I moved in this little, you know, little crappy apartment and talk about some depressing
years. So for two years, it was rough. Like everybody was running out of real estate.
Homeowners were calling me. They're like, take my keys. We don't want our house. I was like,
wait, what? Like, what do you mean you don't want your house? Like literally just go. You
can have it. Like we don't want it. And I didn't know what to do. So I remember I did the shorts. I did
a short sale transaction, a first, a second, a third, an HOA lien, an IRS lien. I worked this
deal for like a year. At the end of the day, I made like 7,000 bucks. And I was like, and then
I looked at the investor. I sold it to, he put it on the market a week later after painting it,
and he made like 127,000. So that, that was moment I knew. I was like, well, wait a minute. I found the deal.
I negotiated the deal. Why am I not making the money on the deal? So that's when I decided I
want to be a real estate investor. So now I'm 29 years old. So I pitch everybody I know,
like literally everybody I know. And every single person I pitched had every reason why it's
not going to work and why I was going to fail. Oh, it's too risky. The market's bad. You're too
young. You don't have the experience. You don't know construction, like every bullshit excuse you
can think of. And every time someone would tell me no, it would piss me off more and get me more
motivated to prove them wrong that I could do it because I'm a guy that's insecure enough to like
to prove everybody wrong. Yeah. So I was like, all right, I can't do it. I'm going to do it. I'm going to do it.
I'm going to do it. So I finally found a guy to do it. He's actually still one of my business
partners today, Pete DeBest. And we bought our first flip, Santa Ana, California, paid $115,000
for it, remodeled that thing. And we ended up making profit of about $34,000. The interesting thing is the first week
we bought that very first flip, I was at a real estate convention in Las Vegas. I met a guy who
told me he had a local TV show and he got a bunch of business out of it. So I leave that seminar.
It was a Mike Ferry seminar again. And I was like, man, I got to get on TV. I was like, how do I get
on TV? What do I got to do? And it was like 10 o'clock
at night. I'll never forget my ex-wife. She's like, you coming to bed? I was like, no, I'm
going to get us a TV show. She goes, you're crazy. I said, I know I'm crazy, but crazy works.
So I literally just jumped on my computer and I started Googling like Hollywood production
companies, Los Angeles production companies. And I just sent like resumes and pictures and said,
hey, I want to flip houses on TV. So what happened was I wanted to be on TV and I had just bought my
first flip. So this is where the idea for Flip or Flop came from. I was like, well, shit, why don't
I flip houses on TV? So the production company next day, they email me back and they're like,
send a home video. I send the home video. They like the home video. Then they wanted to do a two day professional shoot, which is called a sizzle. They came out for two days and then they shot that out to the networks and nobody wanted it. We got nothing. So I had given up on it, but I was still working on building the real estate stuff. You know, TV was like, you know, if it happens, it happens. Yeah. And then 10 months later, I got a call from HGTV or from the production company.
So you're not going to believe it, but HGTV wants to do a pilot.
So it was summer of 2011.
We shot the pilot for Flip or Flop.
And then it went back to the network.
And immediately after they got it, they loved it.
And then they sent me a contract to do 13 houses in 10 months on national TV.
So as you can imagine, you should be excited, right?
Yeah.
You got a TV show.
Well, here was the problem.
One, I had no money.
Two, I had no houses.
And three, I didn't know how to flip houses because in my entire life, I was only on my third flip.
So I went from doing three flips in a year to now they wanted 13 and 10 months on TV.
So I remember I called my lawyer at the time.
I said, well, what's the worst thing that could happen?
He's like, well, they can sue you.
I looked around in my room and I was like, well, they can have it.
So so I signed the contract and that's what I did, man.
I burned the boats.
I went all in on that.
And that first year, I just didn't sleep.
And I said, I'm going to learn how to flip these houses while filming this show. And, um, we'll
get off. And we ran that show for 10 seasons. It's the most, most famous house flipping show
of all time. Dude, what a story. It was a wild ride. Public divorce in there and a whole bunch
of other wild shit, but you know, it's been fun. you know but people don't know i don't think people know that that's why i'm glad
i'm glad for people to hear your side of kind of like that backstory every person i have you know
we're roughly the same age i think i'm a little older than you but everyone that's been in our
circle that 2007-8 i know exactly where the story's going.
As soon as they say the year,
it's like tank,
you know,
it's like almost every energy,
especially real estate.
Right.
It's like,
people don't understand.
Talk about hard times.
Like shit,
man,
I went four months in 2007 without a paycheck.
I was so broke.
I used to go to subway and still lemonade and water cups,
splitting $5 foot long.
It's like,
people don't get it. Like they see my ass on TV flipping. Like it's they they're missing all the real shit. I used to go to Subway and steal lemonade and water cups splitting $5 footlongs. People
don't get it. They see my ass on TV flipping. They're missing all the real shit. I spent 10
years of my life miserable and alone working 16-hour days to make this life happen. That's
really what it takes. The key to success is getting comfortable doing what's uncomfortable.
There you go. It's in my personal Bible.
Glad you could say it.
I like it.
I like it.
So a lot to unpack there.
It's so funny.
You were talking about the pump-up seminar for real estate stuff,
like all that shit.
Every person that comes out of those things is so pumped up.
It's like coming out thinking they're going to knock the world out,
but you're one of the few people that actually did it, right?
Well, yeah, but you want to know why?
Because I was willing to suffer and put in the work.
Where most people, they're not willing to put in the work.
So I'm a big believer that anything's possible if you're willing to put in the work.
So where did that come from, Tork?
Like, how did that, is it just innate?
I have this discussion a lot with guys like you it's like nature nurture you know like which one is it just is it just yeah
you know do you like i'm like i said earlier i hate when people tell me i can't do something
it really pisses me off and i you know the biggest coach in my life was my dad um not not a you know
he's an immigrant to this country but he coached me on mindset and really
mostly on sports. And at five years old, I learned a very valuable lesson. My dad was a soccer coach.
I loved playing soccer and he was an incredible player. So my dad was actually invited to be the
head coach of the all-star soccer team. So as a five-year-old, so excited. And then when my dad picked the team he didn't pick me oh shit so yeah so he didn't like i'll
never forget being at the dinner table five years old just like crying my eyes out and i was like
well why didn't you pick me and he he said son i love you you're not good enough but he said i'll
never forget he said you're not good enough but if you work really hard next year you're gonna make that team damn so what what was the lesson my dad taught me yeah nothing you don't get shit
for free no one's gonna do it for you but you and the only way to get success is to put in the work
so that's what i learned at five years old if i wanted something i had to work for it no one's
gonna give it to me hey i love that amen hey a
lot to learn there i feel like everybody thinks it's gonna be handed to you the biggest thing now
is just things come easy it seems or they think that it does and uh it's the biggest misconception
uh the world is being misled by is how easy things can you know like yes this is 20 years later shit
things are easier now but it took 20 years
of hell to get to the easy that's right that's exactly right so uh talk about reality tv for a
minute so i mean you've done it shit i mean most reality tv shows do not have the longevity you
guys had um number one i mean i'd say you're probably like the top one percent if i just had
to guess purely unscientific guess but i would guess most of them would go what a year two three
years so you're tempted yeah a couple seasons so how real was your reality tv yeah i mean it was
real because i don't know like here's here's like if you watch my show like literally i wore like
sandals blackboard shorts t-shirts i looked like i was like a bum half the time like I didn't even
I didn't even think about being on tv I was just thinking about not going bankrupt because I didn't
know how to flip houses and just unfortunately there were cameras there so like it was all real
like at the beginning I didn't know anything about anything and I just kind of figured it out as I
went but I guess i meant as the whole
you know because i mean obviously you talked about the ups and downs your whole life is being played
out but your kids grew up on reality tv in a way i know they weren't the center of the story but
obviously you know you watch them through the series like yeah everybody feels like watching
them growing up like did it become more not staged might be the wrong word, but like how much staging is involved in kind of making the show as interesting as it was?
You know, like, you know, you're following the processes of a flip, right?
So you can't stage that.
You have to show the demo.
You have to show the walkthrough.
You have to show the design.
You have to show the remodel, right?
Yep.
And then outside of that, you know, it would follow small parts of our personal life you know it wasn't a personal life reality show so it only
it only gave a little peek inside of our personal life yeah did um what's your net net from the show
and i'm talking not we'll get to flipping 101 uh in a minute and we're talking with toric
toric el musa from Flop, serial entrepreneur and
what seems like a pretty fucking cool dude now
that I'm getting to know him.
So Torek, talk to me
about your net takeaway from
Flip or Flop. Are you like
high gratitude, really appreciate it?
I don't want to put words in your mouth, but
what's your net?
I mean, shit, I'm 40 years
old now and I spent almost a third of my life filming that TV show.
So, you know, it's a part of me.
It'll always be with me.
I'll always have those memories.
I mean, shit, when I'm a 60, 70, 80-year-old man,
I can go back and watch myself as a 29-year-old kid.
So it's definitely something in my life I wouldn't change.
And it's been an incredible experience in my life i i wouldn't change and it's been a an incredible
experience and one hell of a ride how do you um think about it i as you you know you talked about
the company but i like to talk about this we do we work with a lot of of ceos founders in on
personal branding and obviously having a show on tv for 10 years certainly elevated you to your persona and all that.
When I say the words personal branding to you, where does your mind go with the Tarek
El Moussa brand and your perspective on yourself?
I'm a big believer in not just flipping houses.
I'm a big believer in flipping your life.
I'm talking about upgrade your wardrobe, take your goddamn vitamins, go to the stupid gym, buy nicer clothing, get your shit tailored,
always be the best version of you possible. And it's always, I'm always going under a remodel.
I'm always working on myself. I'm always trying to improve. I'm always trying to become the best
version of me. Do you, um, I guess you're obviously have, have seen and understand the leverage that comes
with the attention you've built through the show, right? You know, being known pays dividends,
as I like to say, and I feel like that's paying dividends for you even now, right?
Yeah. I mean, it definitely helps with certain things, but like when it comes to real estate,
it's not like, Oh, I've seen you on TV.
I'm going to take less from my house.
So I still got to operate a business.
I mean, we're working our asses off every single day.
And it's a grind, and we're just hustling.
I actually wondered.
It's funny you say that.
I actually started to think.
I'm watching this.
My wife and I watch.
I think we've seen every episode we have at a flip or flop.
And I watched it, and as the years went by,
I started to wonder, like, did it become harder to get the deals or easier?
Because I feel like if they know what you're doing now,
and you're the famous flipper,
did it ever, like, get in the way of potentially?
Because they're like, damn, this guy's just,
I know what he's going to do with this house.
He's going to make all this money on TV.
Did that ever play a factor or did it help you get more deals?
You know, mixed bag, man.
Sometimes it helps, sometimes it hurts.
But finding deals today is definitely more difficult than it used to be.
I mean, when I first got into flipping, all of my all of my business came from, you know, outgoing prospecting, calling, texting, door knocking.
And, you know, today I'm very, very heavy in marketing.
So it's just different.
Yeah.
Well, you said that.
So like marketing.
So like how much of it is marketing?
What's marketing to you?
Like what's your appreciation level of marketing and the role of it in kind of what you're doing?
I mean, marketing is everything. You got to get your phone to ring. So like for me,
my first 10 years as an entrepreneur, 12 years as an entrepreneur, I never did any marketing. I was
taught sales and I was taught sales on the phone. So all I did was call people. All I did was text
people. All I did was network with people.
And then as the short sales and those things started to dry up, I realized, well, hey, I'm building a brand now. I should try this marketing thing. So in 2000 and I think 13 is when I got into marketing.
And today we're doing heavy marketing, hundreds of thousands of dollars a month.
We have TV commercials running throughout Southern California. We have heavy digital marketing campaigns running.
We have print mailers going.
We have driving for dollars.
We have cold calling campaigns.
We have texting campaigns.
We have email campaigns.
So we're just always hitting everything.
And I say, in order to get leads, you have to hit them from land, air, and sea.
You got to hit them from every angle possible.
I like that.
Land, air, and sea.
There we go.
Ding, ding, ding.
Nick, my producer, I told him to circle the marketing is everything.
We might use that in some promos.
Exactly. So let's talk about Flipping 101.
I think we're finishing season two, about to head into season three.
Talk to me about what people, if they haven't already tuned,
made the jump from Flip or Flop into Flipping 101. I'm sure if they were, already tuned you know made the jump from flip or flop into flipping 101
i'm sure if they were they see your promos i'm sure they've made it yeah talk about that i mean
it's really similar to flip or flop you know but it reminds me of like the old and flip or flop days
when i really had no idea what i was doing so it's a fun show because you know i'm an experienced
house flipper working with these rookies and like to be honest, I have so much knowledge and so much experience,
but they still don't listen to me.
Thank God, because they don't listen to me, it makes such a fun show.
So for the viewer, they're watching, they're like, just listen.
And of course, they don't listen, and then it doesn't work out.
So for me, Flipping 101 has been crushing it in the ratings.
People are really liking that show.
So if you guys want to see a really exciting show, you've got to check out Flipping 101 has been crushing it in the ratings. People are really liking that show. So if you guys want to see a really exciting show,
you got to check out Flipping 101.
Yeah, so you're taking the novice, the early, the guys that were you,
maybe the true you from season one,
and you're walking them through the ropes.
It is funny.
I watch every time.
I'm like, you're giving them advice, and I can tell the setup's coming.
You know, like you're telling them, and I'm like, they's coming you know like you're telling them and i'm like they're not gonna do it they're not
gonna do it it's like yeah why don't they fucking do it i'm like why are they doing it it's one of
those things but like i coach people all the time so obviously i'm coaching people on the show
flipping 101 um but outside of flipping 101 i'm passionate about coaching like it's my favorite
thing to do so i told you early on as a broke kid, I got a coach and I made all this money because my coach actually showed me what
to do because I just had no idea what to do. What do you work on when you don't know what to do?
It's like trying to teach yourself golf. Well, you're just going to keep practicing the wrong
swing. How are you going to get better? I'm passionate about coaching. That's why I actually
launched an online real estate school called Homeschooled by Tarek. And now we're teaching people across the country how to flip houses, how to buy rentals.
And that's been very exciting too. Homeschooled by Tarek, people. Go check it out.
And it was actually a great name because I came up with the name Homeschooled
before the pandemic came out. And then everybody had to homeschool their kids. So now everybody
knows homeschool. He's a true marketer, folks. He was ahead of his time. He knew the pandemic came out. And then everybody had to homeschool their kids. So now everybody knows homeschool.
He's a true marketer, folks.
He was ahead of his time.
He knew the pandemic was coming.
Talk to me a little bit, Tarek,
about like real estate advice.
People are listening.
I like to get all these experts on and we like to share knowledge with our audience.
Hot market, a lot going on.
I know we're going to link to some of the stuff that they can get involved with with you at the end
where you can, I'm sure, go much more in-depth.
But what's some trends or tips or things you put out there for people that are thinking about real estate investing?
Yeah, well, I mean, I think it's the absolute best business in the world. But
at the same time, I always say, you know, before you invest in anything, you have to invest in
yourself. What does that mean? It doesn't mean the first step is to go out there and buy a house
tomorrow. It means the first step is to learn about the business, to learn how to buy a house,
and then you go buy a house. So it's really important to have some knowledge and it's, it's not rocket science, you know, just get a little
bit of knowledge and get the price and just start the process. And I'm, I'm a big believer in,
you know, just take your time. If you get it, if you don't get a deal your first month, it's okay.
If you don't get a deal your first two months, it's okay. You don't get a deal your first three
months. It's okay. As long as you're practicing and as long as you're learning, because over time, no matter what, just like riding a bike,
things are going to start to click. How, what's the biggest, and I know you go through this on
flipping one-on-one, but people that get into flipping, what do you think the biggest misconception
is with flipping? Uh, the biggest misconception is that you make your money from the construction might be one of them.
Ah, okay.
Yeah, a lot of people are so focused on the construction.
So they just want to go buy a fixer-upper and then they think about the remodel.
Just because a house is a piece of crap doesn't make it a good deal.
So it all comes down to what you actually pay for that house.
So it's very important to buy it at the right price.
Because if you get it at the right price and things go wrong, you're still going to be okay.
In other words, focus more on the pig and not putting lipstick on it.
Yeah, exactly.
Pretty much.
Exactly. And that's it. You know,
you got, you have to be a hunter. You have to know how to generate leads. You have to know how to evaluate properties and, and, and ultimately you need to know what to pay for real estate.
Yeah. Is, um, what percent of like what you're up to now is still in the flip part of it? I mean,
is that still like the the the large portion of what
you're doing i know you've got your hands in a lot of stuff yeah yeah so we're we're not really
doing much wholesaling anymore just because the market's been appreciating so fast um over the
last 60 days i think i think i bought right around 50 flips um and probably 10 to 12 rental properties in the last 50 so you've bought 50 in the last 60
days that you are in the active process of renovating and flipping yeah shit and you made
it sound like you know i'm over here trying to figure out how to buy 5 000 in 60 days so i'm
i'm pretty pissed off at myself right now. No.
Oh, geez.
All in your area?
Like all in California?
SoCal, yeah.
SoCal.
Yeah, all SoCal.
So 50 in SoCal. And then the rentals are out of state.
Okay.
Different markets.
I have houses in North Carolina, Atlanta, Oklahoma.
Just different markets, yeah.
Yeah.
So are you flipping out of California, though?
Or is it just... No, just rentals out of California. So are you flipping out of California though? Or is it just-
No, just rentals out of California.
So rental properties, my partner and I,
we own, I think it's right about 160 houses right now
as rental properties, all self-funded.
So no outside investors.
And then we've really just been grinding
on building the flipping business
and made a lot of changes over the last couple of years here.
And we're really starting to see some great results.
Yeah.
How long, the TV thing, I mean, you know, flipping one-on-one headed into season three.
I mean, do you see that as kind of in your, do you enjoy the TV, the production side,
the, you know, it's not all glamor as you know, it's tough, you know, it's tough being on TV,
especially when you're an entrepreneur with a bunch of ADHD.
You know, TV can be slow, but at the end of the day, to be able to watch an episode, it's extremely rewarding and be able to coach these people.
It's extremely rewarding. So, like, I have no plans of getting off TV.
I'm just looking to continue to build my brand, get better at real estate, teach more people, and help more people make money with real estate.
How do you – where do you get your knowledge?
So now you've – you're kind of in the prime of your career,
like knowledge and opportunities.
You've learned a lot.
You've got the, I don't know, thicker skin maybe from the experiences of 2007.
got the, I don't know, thicker skin maybe from the experiences of 2007. I mean, like, but where do you, what's your source of, I don't know, knowledge, learning and other things now that
you're kind of at your level? Sure. I'm a guy that learns by doing. Yeah, that's it. I learned
by doing like, what does that mean? Well, how do you get off market deals? You got to talk to
homeowners. So I picked up the phone. I sounded like an asshole. I had no idea what I was doing, but I was calling off market.
And as time goes on, just like in sports, when I was five years old, the more you practice at
something, the better you're going to get. So for me, like I taught myself how to flip houses just
through, you know, practicing and trial and error. I tried everything. I put signs on the freeway.
I door knocked. I i texted i cold called i
drove for doll like you name it i tried it i did everything talk about family you know you know
kids growing up on tv in a way obviously not as the central characters um you know five months
into a new marriage you and heather seem extremely happy. What's that part? It just seems like a
really important part of your life. It is the most important part of my life.
I'm a two-time cancer survivor. I had some pretty sketchy years there for a while. I wasn't sure
what was going to happen. Now, I'm the healthiest I've ever been in my life. I'm the happiest I've ever been in my
life. And I'm 40 years old. And I'm just so focused on my children. I'm focused on Heather.
And we're planning on having another baby soon. So I'm just looking to get family. And I'm just
so excited about life. Because for me, when the kids are older, it's going to be a family business.
I want the kids coming in,
working with me. I want them to do real estate investing. I want them to be passionate about
what they're doing. And I'm really excited for working with them. That's cool. It's a,
it's a good legacy to be living. I mean, and you know what leads me, you know, as we're kind of
concluding, talking with Tarek El Moussa from Flipper Flop, serial entrepreneur, Flipping 101.
We're going to tell you the links here at the end of the show.
What do you want the legacy to be, brother?
I mean, like, what's – I think you've encapsulated throughout the show,
but I do want to kind of reiterate for everyone.
You know, 20, 30 years from now, like, when you look back,
what do we want people to think and remember about Tarek?
I want people to think and remember that anything is possible.
I showed the world
that a guy that grew up with no money in Buena Park, California, ended up on TV with a dollar
to his name. And he did something with his life while a TV camera followed him. I want to inspire
as many people as humanly possible. I want to get as many people into real estate as humanly
possible. And I really want to change lives because, you know, people change my life and
it's my obligation to do the same for others.
I love it, brother. So let's give everybody some of the places they can keep up with you,
some of these projects, how they can get involved with you.
Sure. If you're an accredited investor, you want to partner with me on some apartment buildings,
you got to check TEM Investments or investwithtarek.com. If you want to learn how to flip houses,
which is to be active real estate investor,
go out there and find, fix, and sell.
You got to check out homeschooledbytarek.com.
And if you got a house to sell,
you got to check out tarekbuyshouses.com.
There we go.
I love it.
All the places to keep up.
Tarek, I really appreciate your time, brother.
I know there's been some enlightening things here for people get to know you a little deeper,
a little better.
Really appreciate your transparency and willingness to kind of open up a little bit.
Yeah, absolutely.
And if you guys want to see a little bit of everything that's going on, my Instagram is
TheRealTarekElMusa.
And the reason it's The Real is because someone stole my name.
There's your note for people.
I personally bought all of my children's names on Instagram 10 years ago,
along with mine, for that very reason.
You never know.
That's cool, brother.
I really appreciate you.
All right, man.
Great chatting with you.
And until next time
hey guys thanks so much for tarik el moussa coming on the show you know where to find us
we're at the radcast.com search for flip or flop or any of the content from today
all the hilo clips will come up i'm at ryan alford on all the platforms we'll see you next time
on the radcast