HGTV star Tarek El Moussa became a household name when his hit show “Flip or Flop” premiered in 2013. But before TV cameras came around, the real estate expert hit “rock bottom” in his career.
Tarek El Moussa’s Career Took a Turn
The “Flip Off” star opened up about how he went from being a “millionaire” in his early twenties to having to pivot his career plans.
“My neighbors think I’m a drug dealer. I’m driving big Mercedes and BMWs. King of the world. [I’m] 21 years old. I’m living in this almost million-dollar home in Orange County, California. I was doing well–2003, 2004, 2005,” El Moussa explained in a video shared via Instagram on Saturday, November 15. “In the summer of 2006, my listings were just sitting.”
The reality star explained that while most people believe the “Great Recession” began in 2008, he saw early warning signs as early as the summer of 2006.
“Inventory in Orange County, California, spiked 84 percent. I remember telling everyone I knew, ‘Hey, something’s going on with real estate. I think the market’s gonna turn. I think prices are gonna go down,'” he continued. “I remember everyone telling me I was just some stupid kid that didn’t know what he was talking about.”
El Moussa found himself in a very different financial situation by the following summer, revealing he sold his million-dollar home, as well as his cars, and moved into an apartment with a roommate. He then made a decision to try his hand at flipping houses.
“[I’m] in my car, pull out my phone and started calling everyone I knew. Every single person I knew said I was dumb. I was young. It’s not gonna work. It’s too speculative. It’s too risky,” El Moussa recalled. “Every time someone told me it wasn’t gonna work, I got more and more motivated.”
“I finally had the courage to call the only person I knew that was a millionaire. His name was Pete Debest. Before I finished my sentence–‘Hey, you wanna flip houses’– He goes, ‘Yeah, I’ll flilp a house with you. If you find the house, I’ll put up the money.'”
Within two months of purchasing the flip house, Tarek had a check in his pocked for $34,000.
“After the Great Recession, to make 34 grand in one check again, it was a miracle.”
Tarek El Moussa Lands Chance of a Lifetime
The father of three — who shares children Taylor and Brayden with ex-wife Christina Haack, and son Tristan with wife Heather El Moussa — had all the confidence in the world, even before beginning his house flipping journey.
“I pitched getting my house-flipping TV show before I ever flipped a house. Then they said, ‘OK, we’ll do a pilot.’ So I filmed a pilot of one house,” he explained in a TikTok video shared November 3. “Then they said, ‘OK, well the odds of getting a show are slim and if you get a show, it’s gonna take years.’ Two weeks later, I got a contract from HGTV saying, ‘We want 13 houses in 10 months.'”
Taking a chance definitely paid off as “Flip of Flop” ran for 10 seasons before coming to an end in 2022.
