Right around the time the internet went wild over Tarek El Moussa revealing the gender of ex-wife Christina Anstead's baby in a TMZ Live interview, the HGTV star d a story that got completely overlooked—but is worth noting. Especially if you work in real estate, have a side hustle, or dream of ditching your 9-to-5.
In an Instagram post, Tarek d how far his life came around, pre-Flip or Flop fame, and the big strategy that helped him go from living on a couch in someone's garage to earning $120,000 in three months flat.
"In 2003, I was so broke. I felt hopeless and lost," he wrote in the caption. "I remember I wanted so much out of life, but at the same time, I was flat broke and couldn’t even afford lunch."
This Moment Changed Tarek's Life.
Tarek was new to real estate, he explained, and in five months' time, he hadn't earned a single dollar. He had no idea what he was doing or how he'd ever break through and start making real money, until someone in his office told him about expired listings. Basically, these are homes that weren't sold during the time frame specified in the listing contract that the seller and agent agree to. When that happens, a seller can decide to keep working with their agent and list it again, or they can find a new Realtor, without facing any penalties, according to Realtor.com.
Tarek saw that as an opportunity, so he committed to trying to get clients from expired listings. He decided to give it a shot for 90 days to see what would happen, pushing himself to work at least six days a week, if not seven, and spend at least 14 hours a day at it.
"I cold-called at least 600 people daily and knocked on hundreds of doors," he wrote. "Talk about abuse and rejection LOL."
At the end of the three-month experiment, Tarek had earned $120,000 in commission, he said. "My life literally changed over night! I left that garage and bought a million-dollar home 30 days later," he said. "I was only able to do this because I kept believing in myself! Success isn’t easy, but if you never quit, you can never fail!! And YES, I wanted to quit!"
So What Does That Make Tarek's Net Worth, Then?
Since then, Tarek's gone on to build out his real estate business further, and makes a reported $10,000 per episode for Flip or Flop, according to The Ocean County Register. Of course, those figures are based on the first season of the show, and as it snowballed in popularity, it's likely Tarek and Christina renegotiated for more down the road. There's no word on how much he'll earn from his upcoming solo show with HGTV, but Huffington Post estimated his combined net worth with then-wife Christina El Moussa was $4 million.
Only Tarek and his accountant know how he's doing financially, post-divorce, but given that he recently bought a $2.28 million home in Costa Mesa and treated his nanny to a Lexus for her birthday, he's probably doing all right for himself.
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