653: Tarek El Moussa on Why Flopping While Flipping is The Way to Win 01:11:54

    <p>You’ve probably seen <a href="https://www.biggerpockets.com/blog/investor-spotlight-chiagozie-fawole"><strong><em>Flip or Flop</em></strong></a> before. Even if you’re not a home flipper, it’s hard to not get sucked into the glitz and glamor of watching <strong>Tarek El Moussa</strong> and his team rip out old fixtures from the 1950s and replace them with brand new, beautifully designed upgrades. <strong>Tarek is one of the most recognized home flippers in the world </strong>and has inspired thousands of others to start <a href="https://www.biggerpockets.com/blog/4-reasons-to-invest-in-real-estate"><strong>building wealth through real estate</strong></a>. He’s an inspiration to all of us, but how did he get to such a peak point?</p><p>Tarek wasn’t a great flipper right out the gate.<strong> He electrocuted and burned himself</strong> <strong>on his first deal</strong>, but that wasn’t enough to deter him. Before the great recession, Tarek was living large,<strong> making forty-thousand dollars a month</strong> in his early twenties. But when the crash came, <strong>he had to sell everything and start from scratch</strong>. After attending a real estate seminar he caught the flipping bug and realized he needed to invest in real estate full-time.</p><p>After a successful first flip, he <strong>pitched the idea of <em>Flip or Flop</em></strong> to different television networks, with HGTV finally giving him a chance. He describes the first season of <em>Flip or Flop</em> as <strong>working eighteen-hour days</strong>, constantly stressing, and forcing himself to <a href="https://www.biggerpockets.com/blog/biggerpockets-business-62-alex-french">build a business</a>, 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.</p><p><strong>In This Episode We Cover:</strong></p><p><strong>Tarek’s five </strong><a href="https://www.biggerpockets.com/blog/tips-and-tricks-house-flipping"><strong>house flipping tips</strong></a> that anyone can use to successfully start flipping</p><p>The single <strong>biggest mistake</strong> that most flippers (and investors) make</p><p><strong>Flipping while filming </strong>and how to pitch a TV show as a complete novice</p><p>Why <a href="https://www.biggerpockets.com/blog/find-real-estate-deals"><strong>finding real estate deals</strong></a> is the most important thing a house flipper can do</p><p><strong>Knowing your market and the key metrics </strong>to look for when investigating an area</p><p>Designing a renovation that will <strong>beat out the comps in your neighborhood </strong></p><p>And <strong>So </strong>Much More!</p><p><strong>Links from the Show</strong></p><p><a href="https://www.youtube.com/channel/UCVWDbXqQ8cupuVpotWNt2eg">BiggerPockets Youtube Channel</a></p><p><a href="https://www.biggerpockets.com/forums">BiggerPockets Forums</a></p><p><a href="https://www.biggerpockets.com/membership-types">BiggerPockets Pro Membership</a></p><p><a href="https://store.biggerpockets.com/">BiggerPockets Bookstore</a></p><p><a href="https://www.biggerpockets.com/blog/real-estate-investing-bootcamps">BiggerPockets Bootcamps</a></p><p><a href="https://www.biggerpockets.com/podcast">BiggerPockets Podcast</a></p><p><a href="https://www.biggerpockets.com/bpcon2022?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Get Your Ticket for BPCon 2022</a></p><p><a href="https://www.biggerpockets.com/podcasts?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Listen to All Your Favorite BiggerPockets Podcasts in One Place</a></p><p><a href="https://www.biggerpockets.com/podcasts?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts</a></p><p><a href="https://www.biggerpockets.com/investment-calculators?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Get More Deals Done with The BiggerPockets Investing Tools</a></p><p><a href="https://www.biggerpockets.com/forums/521-real-estate-events-meetups?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Find a BiggerPockets Real Estate Meetup in Your Area</a></p><p><a href="https://www.biggerpockets.com/users/davidgreene24?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">David's BiggerPockets Profile</a></p><p><a href="https://www.instagram.com/davidgreene24/">David's Instagram</a></p><p><a href="https://www.biggerpockets.com/users/robuilt?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Rob's BiggerPockets Profile</a></p><p><a href="https://www.youtube.com/c/Robuilt">Rob's Youtube</a></p><p><a href="https://www.instagram.com/robuilt/">Rob's Instagram</a></p><p><a href="https://www.tiktok.com/@robuilto">Rob's TikTok</a></p><p><a href="https://mobile.twitter.com/robuiltchannel">Rob's Twitter</a></p><p><a href="https://www.biggerpockets.com/blog/real-estate-investing-bootcamps?utm_source=web_pod_mention&amp;utm_medium=podcast&amp;utm_campaign=Q3_bootcamps_webpod">Enroll In the BiggerPockets Bootcamps and Get 10% Off Using Code “BOOTCAMP10”</a></p><p><a href="https://www.biggerpockets.com/blog/2013-04-28-deadly-house-flipping-mistakes?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Do You Make These 7 Deadly House Flipping Mistakes?</a></p><p><strong>Books Mentioned in the Show:</strong></p><p><a href="https://store.biggerpockets.com/products/long-distance-real-estate-investing?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none"><em>Long-Distance Real Estate Investing</em></a> by David Greene</p><p><a href="https://store.biggerpockets.com/products/the-book-on-flipping-houses?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none"><em>The Book on Flipping Houses</em></a> by J Scott</p><p><strong>Connect with Tarek</strong>:</p><p><a href="https://temcapital.co/">Invest with Tarek and His Team</a></p><p><a href="https://www.instagram.com/therealtarekelmoussa/">Tarek's Instagram: @therealtarekelmoussa</a></p><p><br></p><p>Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-653</p><p><em>Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our </em><a href="https://www.biggerpockets.com/blog/sponsors"><em>sponsor page</em></a><em>!</em></p>
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