231. Tarek El Moussa: HGTV star breaks down the key numbers every flipper needs to know, how to spot a bad flip, negotiation tactics, and winning in 2025’s market

Summary

Episode 231: Tarek El Moussa – HGTV Star Shares Essential Real Estate Trading Secrets

Published on April 21, 2025, by Audioboom Studios

In this compelling episode of Trading Secrets, host Jason Tartick sits down with renowned real estate investor, HGTV personality, and author Tarek El Moussa. Together, they delve deep into the intricacies of real estate flipping, negotiation tactics, and navigating the ever-evolving financial landscape. Below is a detailed summary of their insightful conversation.

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1. Introduction and Background ([00:14] - [01:25])

Jason Tartick warmly welcomes Tarek El Moussa, highlighting his impressive achievements:

• Hosted Flip or Flop from 2013 to 2022.
• Starred in HGTV’s Flipping 101 and Flipping El Moussa.
• Successfully flipped over 1,000 properties and sold more than 1,000 homes.
• Owns multiple apartment buildings and a self-storage facility.
• Manages a personal rental portfolio exceeding 200 units and operates a wholesale real estate company and a production company.

Jason emphasizes Tarek’s multifaceted expertise and entrepreneurial spirit, setting the stage for an in-depth discussion.

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2. Current Real Estate Market and Flipping Strategies ([01:25] - [05:03])

Jason points out that 2024 was one of the lowest home sales years in decades. He references a previous statement by Tarek where he mentioned learning more about flipping in recent years than in the past two decades combined.

Tarek responds by simplifying the primary barrier to real estate investment: money. He introduces the concept of wholesaling real estate as an accessible entry point for aspiring investors.

Notable Quote:

Tarek El Moussa ([02:22]): "99.9% of people think they can't be a real estate investor because they don't have money. But it doesn't take money..."

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3. Wholesaling Real Estate Explained ([02:14] - [03:45])

Tarek breaks down the wholesaling process:

1. Cold Calling Realtors: Initiate contact with realtors in targeted areas (e.g., Tampa, Florida).
2. Securing Contracts: Lock a property under contract at a lower price (e.g., $200,000).
3. Assigning the Contract: Transfer the contract to a fix-and-flip investor for a higher price (e.g., $250,000).
4. Earning Fees: Profit from the difference (e.g., $50,000) without any initial investment or risk.

This method benefits all parties: the seller receives a quick cash sale, the wholesaler gains a hefty fee, and the investor can proceed with the flip for profit.

Notable Quote:

Tarek El Moussa ([02:36]): "When I say 'and or assignee', it means I can assign the contract to a third party. In this situation, I earn a wholesale fee of $50,000 with zero investment and risk."

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4. Overcoming Barriers and System Challenges ([04:44] - [05:25])

Tarek expresses frustration with traditional advice such as going back to school or taking second jobs, labeling them as "complete scams". He argues that these paths don't address the core issues and discourage entrepreneurial efforts essential for sustaining various industries.

He underscores the importance of making money versus merely being educated, highlighting a systemic disconnect.

Notable Quote:

Tarek El Moussa ([04:44]): "Making money is different than being educated. You can be really good at making money without education, or highly educated but not good at making money."

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5. Personal Experiences and Lessons Learned ([07:33] - [09:24])

Tarek shares a recent experience where a hurricane struck Tampa and St. Pete, impacting his newly launched company, Tampa Venture Properties. Demonstrating his effective wholesaling technique, he secured four properties within 30 minutes of making phone calls.

This story illustrates the power of persistence and proactive outreach in generating substantial profits quickly.

Notable Quote:

Tarek El Moussa ([08:47]): "Within 30 minutes, I generated four properties and created over half a million dollars in profits with almost no work."

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6. Negotiation Tactics in Real Estate ([09:04] - [21:35])

Jason probes into how Tarek negotiates deals without initial capital. Tarek explains that deposits are often delivered within five days, allowing time to secure buyers. He outlines a negotiation script:

1. Initial Contact: Send a text to the listing agent expressing interest and offering to buy the property.
2. Engage in Conversation: Ask about the property's time on the market, previous offers, and reasons for not selling.
3. Present an Offer: Make a reasonable cash offer based on identified issues and potential profits.

Tarek emphasizes the importance of asking targeted questions to understand the seller’s motivation and leverage that information to negotiate effectively.

Notable Quote:

Tarek El Moussa ([10:11]): "If you practice every question in this script, you're going to make millions of dollars."

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7. Importance of Hands-On Learning ([25:37] - [31:26])

Tarek advocates for self-education and practical experience over traditional academic routes. He shares his journey of being a self-taught investor, emphasizing action over passive learning.

He criticizes the conventional education system for not teaching real-world money-making skills, advocating for learning directly from successful individuals through books, podcasts, and social media.

Notable Quote:

Tarek El Moussa ([25:37]): "I'm a doer. Stop thinking, stop reading, stop listening. Start doing."

---

8. Balancing Media Presence with Real Estate Business ([31:26] - [33:19])

Jason inquires about how Tarek balances his HGTV career with his real estate ventures. Tarek responds by stating that while his media presence enhances his branding, his primary focus remains on real estate profitability. He maintains that if TV commitments hinder his business, he prioritizes real estate.

This balance ensures that his media roles complement rather than detract from his core business objectives.

Notable Quote:

Tarek El Moussa ([33:03]): "I could leave TV at any time. If I'm not getting paid what I need from TV, it's time to leave."

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9. Advice for Home Buyers ([35:44] - [42:21])

Tarek offers critical advice for homebuyers dealing with flipped properties:

1. Verify Permits: Ensure all renovations have proper permits to avoid future legal issues.
2. Quality of Work: Assess the workmanship by inspecting details like tile alignment and cabinet sturdiness.
3. Warranties: Confirm if there are warranties on the renovations to safeguard against defects.
4. Home Inspection: Conduct thorough inspections and possibly hire a contractor to uncover hidden problems.

He shares a personal incident where water damage in a newly purchased home revealed poor construction practices, underscoring the importance of vigilance.

Notable Quote:

Tarek El Moussa ([38:46]): "We bought a brand new house, demoed the closet, and found water damage and mold under the flooring. It cost us nearly half a million dollars to rectify."

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10. Book Promotion and Key Insights ([42:47] - [44:21])

Tarek promotes his book, "Flip Youp Life," describing it as a blueprint for achieving unparalleled success in real estate and beyond. He emphasizes that the book encapsulates his life’s journey, lessons learned, and actionable strategies that readers can emulate.

He challenges listeners to read the book to transform their mindset and approach, highlighting its potential to change lives.

Notable Quote:

Tarek El Moussa ([42:47]): "You only buy this book if you want to know what it really takes to become as successful as humanly possible."

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11. Final Takeaways and Closing Thoughts ([45:47] - [49:29])

In his concluding remarks, Tarek distills real estate investing into a single, actionable metric: contacts and conversations. He stresses the importance of consistent outreach, advising listeners to engage with at least 30 people daily for 90 days to secure profitable deals.

He shares another success story where disciplined contact led to significant commissions, reinforcing his strategy’s efficacy.

Notable Quote:

Tarek El Moussa ([47:09]): "Talk to 30 people a day for 90 days, I guarantee you'll make more money than you ever made in your life."

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Additional Highlights and Personal Stories

Throughout the episode, Tarek shares various personal anecdotes illustrating his resilience and strategic thinking:

• Great Recession Experience ([22:42] - [25:37]): Tarek discusses buying a house during the market downturn, holding onto it despite initial losses, and eventually reaping substantial profits due to long-term growth and inflation.

• Hands-On Roles ([31:06] - [31:26]): He highlights his diverse roles in the real estate sector, from cold calling and door knocking to remodeling and leasing, showcasing a comprehensive understanding of the industry.

Notable Quote:

Tarek El Moussa ([33:14]): "I've been a cold caller, a door knocker, a contractor, and more. I've done every single aspect of this business from the ground up."

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Concluding Remarks

The episode wraps up with a vibrant recap and tease of upcoming shows and ventures, including Tarek’s new HGTV season and Jason’s various business projects. Both hosts express enthusiasm for future collaborations and encourage listeners to engage with their content across multiple platforms.

The dynamic exchange showcases not only Tarek’s expertise but also his passion and commitment to empowering others in the real estate market.

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Final Thoughts

This episode of Trading Secrets with Tarek El Moussa is a treasure trove of actionable insights and personal wisdom. Tarek’s transparent discussion about overcoming barriers, practical negotiation tactics, and the importance of consistent action provides invaluable guidance for both novice and seasoned real estate enthusiasts. His emphasis on self-education and hands-on learning reinforces the notion that success in real estate is attainable with the right mindset and strategies.

If you’re looking to enhance your real estate flipping skills or navigate the complexities of the housing market, this episode is an essential listen.

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Find Tarek El Moussa and his ventures:

• Website: TemCapital Co
• Social Media: @tarik_el_moussa on Instagram, TikTok, and Facebook
• Book: Flip Youp Life

Stay tuned for more insightful episodes of Trading Secrets as Jason Tartick continues to unlock the vault of financial and career strategies.

Transcript

[Jason Tartick]

Welcome back to another episode of Trading Secrets. Today we are joined by self made real estate investor, author in hgtv, reality TV personality Tarek El Moussa.

[Tarek El Moussa]

Tarek.

[Jason Tartick]

Tarek gained recognition in reality TV space after hosting Flip or Flop with his ex wife from 2013 to 2022. Since then, Tarek has expanded his real estate and reality TV portfolio to new heights. He is now the star of HGTV's hit shows Flipping 101 and the Flipping El Moussa. In addition to successfully flipping close to 1,000 plus properties and selling over 1,000 homes, owning multiple apartment buildings and developing a self storage facility, Tarek is a successful entreprene real estate expert and investor and now author. With a personal rental portfolio of over 200 portfolios, a wholesale real estate company, a production company, Tarek is changing the real estate game. Honestly, we're going to discuss all things. There is so much to cover in such a short period of time. Feels like you do it all from TV to real estate flipping author and more. Tarek, thank you so much for being on Trading Secrets.

[Tarek El Moussa]

Man, that sounds busy.

[Jason Tartick]

You're a busy dude. Man.

[Tarek El Moussa]

That sounds overwhelming.

[Jason Tartick]

I wonder.

[Tarek El Moussa]

I'm all stressed out. Yeah.

[Jason Tartick]

I'm telling you, I'm looking at your resume. I'm like, I could go 8,000 directions in one hour. What direction do I go? Everything from hosting a show with your current wife and your ex wife to flipping homes. But here's, here's where we're going to start. Okay. Because I know a lot of our listeners are just, they're trying right now. They want to make a couple extra bucks. So we're going to get into some of the media and entertainment. Let's start with the, with the flipping, right? We know 2024 was like the one of the lowest home sales years in decades. And I heard you say, actually on a podcast, you said, I've learned more in the last few years than I did in the last 20 combined. When it comes to flipping just because of inventory, interest rates, just the over economy and current climate in real estate. So if someone's listening to this, they're finally getting a couple bucks. They're interesting. In flipping a home, what do you tell them in 2025, given all these moving parts and where do they start?

[Tarek El Moussa]

Great question. So I'm going to simplify this as much as I can and I'm going to take away the biggest roadblock that prevents people from getting into this business.

[Jason Tartick]

Okay.

[Tarek El Moussa]

And it's, it's money. So 99.9% of people? No, no. They think they can't be a real estate investor because they don't have money. But what they don't understand is it doesn't take money. So there's something called wholesaling real estate. Are you familiar with that?

[Jason Tartick]

Yes, I am, but some of our listeners might not. Be.

[Tarek El Moussa]

So, like, tell them, okay, I love this. So wholesaling real estate. Here's an example. I'm Tarek El Moussa. Let's just say I get on a phone and I start cold calling people realtors in Tampa, Florida, and I want to buy one of their, their fixer uppers. And they say, okay, we agree to it and you can buy it. Let's say I lock up this house for 200,000. When it's fixed up nice, it's worth 450,000. In my contract, I'll write, Tarek El Moussa is the buyer and or assignee. When I say and or assignee, at that point, that means I can assign the contract to a third party. So in this situation, if I got a contract signed at 200,000, I can call a fix and flip investor. A lot of times it's a contractor and say, hey, I got this incredible deal. I can sell it to you for 250. Once it's fixed up, it's 450. Do you want it? In most cases, they're going to say yes. Why? Because the hardest part of this business is finding the deal. And they just want to fix it up, do the design, do the work. So who wins? Everybody. The seller. They get a cash sale, they close quick. I win, I get a wholesale fee of $50,000 for connecting them. But by the way, I had zero money invested and I had zero risk. And who also wins? The contractor or the investor that buys it because they're going to flip it for a profit.

[Jason Tartick]

Okay, so I know the number one question that people are thinking right now, if that's the case, you find a property for 200, it could go for 450. You then are the assignee and you can assign it and then sell it to someone for 250 and make 50k off the top. The big question, I know that people are thinking, well, if you got involved with this from the get go and you got it for 200, how did you not have to put money down for the 200,000?

[Tarek El Moussa]

Well, that's a great question. So when we're working directly off market with owners, a lot of times we'll say the deposit will be delivered within five Days. So then we have five days to find that buyer to go put in that deposit.

[Jason Tartick]

Okay.

[Tarek El Moussa]

Okay. And we disclose all of this information. So can I. I'm just gonna give you an example because it really frustrates me that people think it's so difficult to be in this business. And it frustrates me that people are looking for a better way. They're looking for a better life, and they're doing all the wrong things. They're trying to go back to school, they're trying to get a raise, they're trying to work a second job, they're trying to work overtime when it's a complete scam.

[Jason Tartick]

Huh?

[Tarek El Moussa]

It's a complete scam. Right?

[Jason Tartick]

Yeah.

[Tarek El Moussa]

Because that is not what. What's going to fix the problem. So what?

[Jason Tartick]

What? And it's like these. It's interesting because these things you're talking about right now, you're not. I mean, I got an MBA at a top business school. You're not taught this in NBA. You're not taught it in school and not any form of school. These are the places you now learn from people that are doing it.

[Tarek El Moussa]

Well, they don't want to teach you what I'm teaching. And who's gonna. Who's gonna run the country? Who's gonna deliver the packages and put the mail in the boxes? And who's gonna build the things and fixed. You see?

[Jason Tartick]

Yeah.

[Tarek El Moussa]

This country is a big business. And if our business runs out of employees, well, who's going to run the business?

[Jason Tartick]

Right?

[Tarek El Moussa]

So why would the system teach everybody to go against it?

[Jason Tartick]

Yeah.

[Tarek El Moussa]

What. What we want to do is make our country as smart as possible so they can work to build this country to keep us powerful. But that doesn't mean they're going to make you smarter, better, or teach you how to make money. Making money is different than being educated. That's where people get confused. You can be really good at making money with but no education, or you can be highly, highly educated but not good at making money. Because those are two different things.

[Jason Tartick]

Yeah. So it's also real quick. I think in general, we put these stigmas and we assign them with certain industries. Just like you said, we assign real estate with you need capital, otherwise you can't make anything happen. And therefore it creates the barrier and therefore no one steps into it. And then they're back delivering packages or stuck with their student debt. Like you said the other day I showed you on my Instagram, I got ID'd and I was fired up about it. Born in 1988 and I got ID'd. People ask me about my hair and how it's growing so long and healthy and I always tell them one of the big solutions is definitely Nutrafol. I've been taking Nutrafol now for a year. Hair thinning is very common and it's also a frustrating problem that many men deal with. From stress and nutrition to hormones to lifestyle. So many internal factors affect what you see on the outside and Nutrafol is here to help. Nutrafol is now the number one dermatologist recommended hair growth supplement brand trusted by over one and a half million people. See thicker, stronger, faster growing hair with less shedding in just three to six months. Thinning hair is different for men and women. So it's really not a one size fits all approach. That just doesn't cut it. Well. Nutrafol has multiple formulas for men and women that are tailored to different life stages such as postpartum or menopause and lifestyle factors such as plant based lifestyle. So you can get what you need. Start your hair growth journey with Nutrafol. For a limited time, Nutrafol is offering our listeners $10 off your first month subscription and free shipping. When you just go to neutral.com and enter promo code Trading secrets. Find out why over 7,500 healthcare professionals and stylists recommend Nutrafol for healthier hair. That is Nutrafol.com spelled N u t r a f o l.com promo code Trading Secrets. That's Nutrafol.com promo code Trading Secrets 100%.

[Tarek El Moussa]

And you know I'm give you, I'm going to give you a story right now and I think you're going to like, okay, this is, opened the eyes of many, many people. Unfortunately there was the terrible hurricane that hit Tampa and St. Pete a few months ago. Yeah, okay.

[Jason Tartick]

Oh yeah.

[Tarek El Moussa]

Before it hit, I had just started a new company with my partner's name, Steve Ross, called Tampa Venture Properties. And what we're doing is we were buying houses, fixing and holding his rentals.

[Jason Tartick]

Okay.

[Tarek El Moussa]

That was the goal.

[Jason Tartick]

Sure.

[Tarek El Moussa]

So I went out to visit Tampa a couple months ago, gave him and this girl Katie who works from a training session. So I said I'm going to show you guys how to find deals. So we sat down on the [e-mail] pulled up Tampa Homes and one by one I looked at the pictures in the description. I said which houses look bad and which description says it's been flooded, they're looking for a cash sale. And one By 1 For 30 minutes I made phone Calls. I think it was the fourth or fifth call I made. It was to a lady named Kristin. The house was listed at 789. I ended up buying that house for 662,000.

[Jason Tartick]

Wow.

[Tarek El Moussa]

On the spot. And here's what happened. She sold me two other houses that same day. And then I kept making calls. I ended up getting a fourth house. So within 30 minutes, I generated four different properties. And people say, well, how do you do that? Well, you got to learn. Well, how do you learn? I have content all over the Internet.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

You can literally go on ChatGPT and say, what would Tarek El Moussa do?

[Jason Tartick]

Yeah.

[Tarek El Moussa]

So the excuses are gone. Right. And let me tell you what happened. I bought that house for 662,000. We put $120,000 into it. We just put on the market a few days ago for 1.2 million.

[Jason Tartick]

No way.

[Tarek El Moussa]

We're looking at an estimated profit of 250,000. And that was one out of the four houses that I found in 30 minutes of making phone calls.

[Jason Tartick]

Unbelievable.

[Tarek El Moussa]

Will they ever teach you that in school?

[Jason Tartick]

And they'll never teach you that in school. And think about how much money that. I mean, $250,000 to your average American based on what's happening with current salaries. It's in huge.

[Tarek El Moussa]

It's huge and huge. And I have all the data to back it up, the proof, the text campaigns, everything to show in 30 minutes, I created over a half million dollars in profits with almost no work.

[Jason Tartick]

Okay, let's break it down just a little bit further. Right. So someone's like, all right, I could do this. Let me break it down. So you go to Zillow. You're searching flood like. And that's in the description. Therefore, you know you have leverage.

[Tarek El Moussa]

So not searching, flood. So what I do is I look at everything. I don't try to limit. And then I just use my eyes.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

I look at the pictures, and I read the description.

[Jason Tartick]

Okay.

[Tarek El Moussa]

And if it says motivated seller, cash offer, flooded property falling over, you look for keywords like that.

[Jason Tartick]

Okay. And that, you know, creates opportunity for rehab and also leverage to buy.

[Tarek El Moussa]

Exactly. So in real estate, there's two ways to find opportunity. Most people think it's a shitty house. Wrong. It's a shitty situation. Most people in a situation. Shitty situation also have a shitty house, though.

[Jason Tartick]

Sure.

[Tarek El Moussa]

But really, what causes a fast cash sale is the situation someone's in.

[Jason Tartick]

Gotcha.

[Tarek El Moussa]

Okay, so let's. I'm gonna teach you this. Right. I really. I want you to leave today. Think I Can do this and you can.

[Jason Tartick]

Yeah, I love it.

[Tarek El Moussa]

So now you're on Zillow. You're looking at properties. Keep going. Ask me.

[Jason Tartick]

Okay, so I'm looking at properties, and now I have these. These big words, these buzzwords you just put in there. Now I know that I have some leverage. They're motivated, et cetera. I then know that I have to take an offer and get a discount from what the current price point is, which is what you did. Right. You got like, 150k off. So my next question would be, when you go in that negotiation process, how do you do that?

[Tarek El Moussa]

Very simple one. I start with a text message. Let's just say you're the. You're the listing agent on this property. Can we do that?

[Jason Tartick]

Yeah, let's do it.

[Tarek El Moussa]

Hi, Jason. My name is Tarek El Moussa. I would like to buy Your listing at 123 Main street, have you represent me and pay you a commission.

[Jason Tartick]

Now I'm incentivized.

[Tarek El Moussa]

When can you speak? Okay, so that's my first message.

[Jason Tartick]

I'm calling you right away. So I'm the realtor. Let's talk. I'll call you in five minutes.

[Tarek El Moussa]

Would you call me?

[Jason Tartick]

I'd call you right away.

[Tarek El Moussa]

Great.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

Yo, you want to buy it? You want me, right? You want to pay it?

[Jason Tartick]

Represent it? I'm going to get paid. Perfect.

[Tarek El Moussa]

What do you think? The first question you're going to ask.

[Jason Tartick]

Me is how much you're willing to pay.

[Tarek El Moussa]

That's a great. You know, that's a great question. Before I get that answer for you, do you mind if I ask you a couple of questions?

[Jason Tartick]

Sure.

[Tarek El Moussa]

Okay. So how long has this house been on the market?

[Jason Tartick]

It's been on for 180 days.

[Tarek El Moussa]

Have you guys had any offers?

[Jason Tartick]

We've had a couple, but they didn't. They didn't come through. They fell out.

[Tarek El Moussa]

And what do you think stopped the home from selling?

[Jason Tartick]

Probably just the uncertainty within the market. Obviously, there's been some damage to it, and we just. It's just. It needs a little bit of a facelift.

[Tarek El Moussa]

Yeah, it's kind of a crazy market. I mean, did you know that we have the highest fallout rate that we've seen in, like, 20 years?

[Jason Tartick]

Didn't know that.

[Tarek El Moussa]

Yeah. Yeah. So what's happening is a lot of buyers are going to escrow and they're canceling, so. But you guys aren't even going into escrow. Well, let me ask you, once this home sells, where are your clients moving?

[Jason Tartick]

They're actually going to Orlando.

[Tarek El Moussa]

Orlando. I love Orlando. My family loves Disney. What takes them out there?

[Jason Tartick]

They're just, they're too close to the water right now. There's obviously a lot of concerns and I think the, the husband had a job opportunity out there.

[Tarek El Moussa]

Got it. And what will happen if this home doesn't sell?

[Jason Tartick]

They're going to be squeezed pretty tight.

[Tarek El Moussa]

Okay, so do they kind of like have to sell?

[Jason Tartick]

They're motivated.

[Tarek El Moussa]

Alright, so let me ask you this. You guys are asking 500,000 for the house, right? I mean, I'm not saying I can do this, but if I was able to bring you a cash offer, get your clients the money in their bank in less than 10 days and they'll be in Orlando in two weeks. But the most I can pay is 400,000. You think they'd consider it?

[Jason Tartick]

I can certainly ask them. I think so.

[Tarek El Moussa]

Great. So why don't we do this? Why don't we put together an offer? The worst that can happen is they send a counter. The best that can happen, we get them what you want, you sell the house, they're in Orlando.

[Jason Tartick]

I love it. And that's the script you use to get this one down. So the example they gave.

[Tarek El Moussa]

Sorry, can I ask. Did I just do brain surgery?

[Jason Tartick]

No.

[Tarek El Moussa]

Or did I just ask you 10 questions that literally anyone on planet earth can remember and ask the same. Same freaking question.

[Jason Tartick]

Literally five to 10 questions. That was it.

[Tarek El Moussa]

That's it.

[Jason Tartick]

That's it.

[Tarek El Moussa]

So if you literally took this recorded.

[Jason Tartick]

Yep.

[Tarek El Moussa]

And you practice every question, you're going to make millions of dollars.

[Jason Tartick]

That is amazing.

[Tarek El Moussa]

I'm not kidding you. Now here's the secret. You're looking for a needle in a haystack. Well, what does that mean? You got to move a lot of hate. So most people think they're going to get on, make five phone calls, get a deal. Oh, hell no.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

You're committing to thousands of phone calls and thousands of conversations and getting your ass kicked until you got it. And the second you got it, you got it forever.

[Jason Tartick]

Okay. You got it forever. I'm going to take everyone through the next step. So then you negotiate it. You got it? I think your exact sample, how much was the one in with Kristen in Tampa? Was 700. Was listed at 700, I think was 775. 775.

[Tarek El Moussa]

And I paid 62, I think 662.

[Jason Tartick]

Okay. So 662 is what you pay for it. So you just brought us through that process. Now you're at 662. One thing you said in your Example was that you hired, I believe, a contract factor for to put in 120k.

[Tarek El Moussa]

Yep.

[Jason Tartick]

That. Okay. So I can get to 662. Now I got a whole nother pain in the ass. I got to get this thing fixed up at a price point. That makes sense. Talk me through that process.

[Tarek El Moussa]

Well, in this situation, I have money, right. So. Well, actually, here's the truth, because I've done so many loans. I got a loan for 90. I think it's 90% of the purchase price.

[Jason Tartick]

Okay.

[Tarek El Moussa]

So I think I had to put about 60, about 6, call it $65,000 down.

[Jason Tartick]

Okay.

[Tarek El Moussa]

And then they, they financed all of my construction. So my total cost out of pocket to buy, fix and sell this house is about 65, 70,000. You know, I have some carrying cost, things like that. Now, if I didn't have the money, I have two options. Option number one, I go raise private money. Friends, family, people I know.

[Jason Tartick]

Sure.

[Tarek El Moussa]

Hey, can I take an $80,000 loan at a 10% interest? And you'll put a lien against the house. You're in a second position behind the lender. Right. So now you're using someone else's money.

[Jason Tartick]

Of course.

[Tarek El Moussa]

Or let's just say no. I don't know anybody, Nobody wants to give me money. So what do we do then? Well, we have the house under contract at 662.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

Well, then I'm going to. I'm going to go on different apps and I'm going to find out who the investors are that bought all the other homes in that area in the last three years. Right?

[Jason Tartick]

Yeah.

[Tarek El Moussa]

And then I'm going to find out what their names are. And then I'm going to go on this thing called the Internet, and I'm going to have them look for their phone numbers and home addresses. And then I'm going to pick up this thing called a phone, and then I'm going to call them and I want to say, hey, you know that, that house you flipped six months ago on 123 Main Street? That beautiful corner lot? What if I told you I had a deal, four houses down that I can get you for 725? Would you be interested?

[Jason Tartick]

Gotcha. I see it. So you're, you're giving yourself. So anyone listening right now you have all the options in the world. If you got money, you could put the money down, finance it.

[Tarek El Moussa]

Yes.

[Jason Tartick]

And then flip it.

[Tarek El Moussa]

Yep.

[Jason Tartick]

If you don't have money, you can wholesale it and still flip it. Someone like me, so you have the options, and then if you get stuck, obviously, you just got to make sure that you have a couple bucks so that you can put yourself in a position to, to make sure you take and make the most of however much that you've negotiated in the margin. It's like you said, it is not rocket science. So that's, that's, it makes a lot of sense.

[Tarek El Moussa]

And wholesaling is much easier now. Flipping is much more difficult. But it's only difficult because the decisions that people make.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

So let me tell you the two reasons why house flipping is difficult. Number one, the majority, they pay too much for the house because they don't know what to do. They don't take the time to learn how to actually evaluate what to offer. And it's very simple.

[Jason Tartick]

What is it?

[Tarek El Moussa]

Let's just say you call me with the house, you're like, hey, I want to sell my house. I don't know what it's worth. What will you pay? It's a three bedroom, two bathroom, 1200 square foot house.

[Jason Tartick]

There's a house I was just looking at.

[Tarek El Moussa]

Okay.

[Jason Tartick]

Okay, so it's listed at 1 7. In 2020, they bought it. It's in a great location. 2020, they bought it for 125 and they said that they put in 100k into it. So their break even based on what they said of putting 100k into it is 1.35, but it's listed for one and it's sitting for 95 days.

[Tarek El Moussa]

Okay. So that's not the real math. So here's. Okay, so the first thing you do is you start with the ARV after repair value.

[Jason Tartick]

Okay.

[Tarek El Moussa]

Which is after the home is nice, what is it going to sell for? So what is it listed at?

[Jason Tartick]

1,7.

[Tarek El Moussa]

Okay. So their ARV when they went in said we're going to, at the end when it's done, we're going to sell for 1.7.

[Jason Tartick]

Okay.

[Tarek El Moussa]

So to get, to make this house.

[Jason Tartick]

Look like so ARV, that listing price is their ARV.

[Tarek El Moussa]

Exactly. Okay, so now we have our ARV 1.7.

[Jason Tartick]

Yep.

[Tarek El Moussa]

Well, to make the house look like a 1.7 house, we had to spend money.

[Jason Tartick]

How much? 100,000.

[Tarek El Moussa]

So now we take ARV 1.7 minus 100,000 to fix it. 1.6.

[Jason Tartick]

Got it.

[Tarek El Moussa]

When we sell the house, we got to pay about 6% closing costs and commission on 1.7, which is 102,000. So that puts us at $1,500,000.

[Jason Tartick]

Yep.

[Tarek El Moussa]

Right. So now it's at 1.5 million. What year did they buy the house?

[Jason Tartick]

2020.

[Tarek El Moussa]

And did they fix it up? Are there renters in there?

[Jason Tartick]

No, it's pretty fixed up. It's in good shape. There's no renters in there and they already moved.

[Tarek El Moussa]

Okay, so they've probably had a $5,000 carrying cost for that house every month.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

For the last couple of years. So you take 12 months times 5 is 60,000.

[Jason Tartick]

Correct.

[Tarek El Moussa]

Over a couple of years.

[Jason Tartick]

120.

[Tarek El Moussa]

Yeah. So now what do we have? We have 1.5 minus 120. Their break even is $1,280,000.

[Jason Tartick]

And so is that where you would like. Would you go down to that?

[Tarek El Moussa]

I would go under that.

[Jason Tartick]

Under that.

[Tarek El Moussa]

Who says they need to make money? Wow. Who says they need to make money? But again, they're not a distressed seller.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

So that's not the person I'd be calling.

[Jason Tartick]

I understand.

[Tarek El Moussa]

So here's, here's how, here's how a distressed seller would work. If you, if you call me, hey, Tarek, you're a homeowner, Tarek, I want to sell you this house. Well, they're going to like. Well, how much will you pay me? This is what I do. Three bedroom, two bathroom, 1200 square foot house. And I'm California. First thing I do is find arv. Once this house is shiny and pretty, what's it going to sell for? 800,000. Okay. I know in this neighborhood in California, to make this house look like an $800,000 house, it's going to cost me 200,000 in construction.

[Jason Tartick]

Right.

[Tarek El Moussa]

So 800,000 ARV minus 200,000 to fix it up puts me at 600,000. I know it's going to cost me about 50,000 to sell it. Puts me at 550. I know I'm going to have about 20 in carrying costs. Puts me at 530. So what did we just learn? If I bought this house today for 530, spent a year of my life fixing it, listing it, selling it, I made $0. So I want to make money. Right. My break even is 530. Well, how much you want to make? 100 grand. I offer 430.

[Jason Tartick]

Interesting.

[Tarek El Moussa]

Want to make 80 grand, offer 450.

[Jason Tartick]

Oh, wow.

[Tarek El Moussa]

Identify the break even, then decide how much money you want to make.

[Jason Tartick]

With less than 100 days until summer, the countdown to summer break is on. Whether you're looking for a summer escape or want to surprise your family with an unexpected trip, we've got you covered. We have teamed up with visit Anaheim to give you an incredible deal of up to $100 off select Anaheim hotel stays. Don't miss the chance right now to kick off your summer with fun and unforgettable memories. Save up to a hundred dollars off select Anaheim hotel stays. Book now through June 20th. Go to visit anaheim.org backslash 100 days. Okay, here's the question I got for you. First of all, you mentioned Anaheim. Big fan of Anaheim. We actually, at the agency, we work a ton with visit Anaheim.

[Tarek El Moussa]

Oh, they're my favorite ever, by the way.

[Jason Tartick]

Literally. Yes. Oh, they're the best ducks we do. I mean, we've been out there. Disneyland out there. It's awesome. But. But real quick, going back to business a little bit. I think one of the issues, and a lot of people feel this right now, especially when they're working with agents trying to buy even a home or flip a home, is the agent has a reputation to protect and credibility. So if they're listing, like, let's just go back to my example. They're listing for 1.7. You and I just talked about the 1.28 and going under it. If I go tell my agent to go offer 1.1, I know what he's going to do. He's going to look and be like, dude, I think we're being a too aggressive. But he's only protecting his ass. He doesn't care about my wallet. How does the buyer. How does the person listening is about to buy a home protect themselves when they're dealing with an agent that's trying to protect them?

[Tarek El Moussa]

Great question. So in this situation, I would Never offer that 1.1 on the house you're talking about because I already know they're not going to take it.

[Jason Tartick]

Okay. Because it's not a distress seller.

[Tarek El Moussa]

It's not a distress.

[Jason Tartick]

Got it.

[Tarek El Moussa]

Okay. You got it. That's. And that's the goal. Move a lot of hay to find the needle. The needle is the distress.

[Jason Tartick]

Okay.

[Tarek El Moussa]

So you got to find. It only works if you find distress.

[Jason Tartick]

Yes.

[Tarek El Moussa]

Other than that, you're going to get a middle finger.

[Jason Tartick]

I got it. Okay.

[Tarek El Moussa]

And that's where. That's where the hard work comes in.

[Jason Tartick]

Okay.

[Tarek El Moussa]

And then what was the second part?

[Jason Tartick]

Yeah, the second part of that was just like the idea of like, things that with their agent, like, I was like, the agent's job is obviously sell it for more and not hurt the reputation. So you're working against them too.

[Tarek El Moussa]

But here's the problem. The agents are fueled by commission, correct? Their. Their job is they're supposed to have a fiduciary duty to their clients. Unfortunately, there's a large majority in this industry that don't. And they have one fiduciary duty to make the most money as fast and easy as they can. So I can't tell you how many times over the years I've literally written offers on deals that were higher and better. And I've lost out because the agent represented a different buyer, where they got both sides of the commission and they screwed the seller out of 100 grand so they can make an extra 10.

[Jason Tartick]

Jeez.

[Tarek El Moussa]

Happens all day, every day around the entire country.

[Jason Tartick]

Unbelievable. Okay.

[Tarek El Moussa]

All day, every day. Because there's. I mean, it's not like. It's not like legal, you know, get a real estate license, then you're an independent contractor.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

And it's a tough industry. You got. You got, you know, 5, 5, 10% of the agents doing all the business.

[Jason Tartick]

Yeah. Okay. All right. We're gonna get into a little bit more of Tarek's personal story and the stuff you're working on. But we had to extract some of this stuff because it is just. It is so, so valuable. We talked about flipping, talked about your tactics, the things that make you so special and the things that. Why people can go into ChatGPT and literally look and see how you would do it. I want to get your take right now because I know my listeners, they're writing in all the time. They are struggling with the idea of actually either upgrading their house or the first time. Homebuyers are dying right now. We know price to income ratio for homes based on earnings back in like the 90s, 80s and 70s was like 2x. Now it's like 6, 7x. So it's gotten crazy. We also have a lot of different things happening that could impact if they want to build, like supply with tariffs, with all these things. So from the expert, the guy that is saying, you say you're the number one flipper in the world. And people hear from real estate agents on this show all the time, but they don't hear from people like you. What do you have for them when they're buying a home? As far as where we're at, given 20, 25 and all the moving parts of this economic, just like standstill and pricing and will it come down and.

[Tarek El Moussa]

All this stuff, I'm the best, most honest, raw, real truthful advice I can.

[Jason Tartick]

Okay, let's hear it.

[Tarek El Moussa]

Stop thinking, stop listening. It's all bullshit. Nobody knows what they're talking about. 30 years from today, you're going to beg, you bought a House today. Let me tell you a story.

[Jason Tartick]

Okay, let's hear it.

[Tarek El Moussa]

During the Great Recession, I thought my life was going to end. So I got a real estate in 2003. I was like 20 years old.

[Jason Tartick]

Okay.

[Tarek El Moussa]

I watched the market go up like crazy. I watched all these other kids around me buying houses, flipping them, making all this money, doing nothing. And I felt like an idiot because I wasn't. But I was like, I'm not buying it. It keeps going up. It's got to go down.

[Jason Tartick]

Sure.

[Tarek El Moussa]

So finally 2006 comes around. I've been in the business for three years. The price is more than doubled. I'm like, damn it. Yeah, I missed it. I'm buying one. I ended up buying a new construction house in Charlotte, North Carolina. Four bedroom, two bathroom, 2200 square foot house. Paid $160,000. Brand new house. I'm like, there's no way I can lose money. I can't even build this house for 100. Like, how can you lose money, right?

[Jason Tartick]

What did you know it's coming.

[Tarek El Moussa]

I mean, let me tell you. Let me tell you a little something. So here's what I learned. By 2008, that house I paid 160 for was worth $80,000.

[Jason Tartick]

Yeah. Two years. That's crazy.

[Tarek El Moussa]

Two years. When I first bought it, I was renting it for 1200amonth. When everything changed, it was down to 950amonth.

[Jason Tartick]

Wow.

[Tarek El Moussa]

So not only did it drop from 160 to 80,000, my, my, my rent was from 12 something to 950. So every month I was losing like $200. And for me, back then, I was broke. There's a lot of money. So everybody else was foreclosing and short selling and this and that, but it's the only one I had. And I'm like, I'm just gonna keep it, see what happens. Let me tell you what happened. I still own that house today. The house I bought for 160, that was worth 80. It's worth $400,000. Okay, long game. The house that I got it and it was renting at 1200 to 950, I just leased out at $2100. You want to know it's still the same, my payment. That's the thing. The one thing you can't get back is time. And this is where people get confused. They spend their whole life waiting for the right moment that never comes. So the right moment is today. Because no matter what, in the future, because of inflation and time, it will be worth more now you can't just go out and buy whatever you want. You have to buy the right assets, right? So me for example, like I have a company called Tem Capital. What we do is I partner with my fans, my friends, my followers on social media and together as a group we go buy distressed apartment buildings, we build self storage facilities, we build units. Right? Because it's about buying the right real estate. But the whole idea of timing, it just doesn't work. Let me give you an example why it doesn't work. Imagine this if I was always trying to time the market and I timed it perfect and within a two year period I bought five houses at the perfect time, right? Now, let's say instead of doing that over a 10 year period, every year I bought two houses. Am I going to win if I end up with 20 houses or am I going to win if I end up with five houses?

[Jason Tartick]

I would assume 20.

[Tarek El Moussa]

Why? Because over time it's just like inflation and leverage.

[Jason Tartick]

Everything else.

[Tarek El Moussa]

Yeah, you're not. It will all the worst real estate deal today, the worst deal in the country today will one day be someone's best deal in the world.

[Jason Tartick]

It makes perfect sense. And I do agree with you. I think we get analysis paralysis. Especially in a time like right now.

[Tarek El Moussa]

I'm a doer. Stop thinking, stop reading, stop listening. I'm self taught. Okay, here's another thing. I'm self taught.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

I didn't listen. I don't know shit about politics. I didn't read. I didn't take courses. I taught myself how to run this business.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

And guess what? I like fast, easy, quick. And I create my own shortcuts and I learn how to do things my way. So I see this business in a different way than other people because they were went through traditional education and they were taught by people who were taught by people that went through the traditional ways. No, I learned this from the ground up. Starting off as a cold caller and I learned what works.

[Jason Tartick]

I recently had a buddy's wedding and they had a photo booth. And I'm not kidding, there was literally a line all night outside this photo booth. Everyone loved it. Now what is one thing you see at every wedding or major event that you didn't see 10 years ago? It's a photo booth. Yes. Like literally they are everywhere and people are always in line for them. Turns out owning a photo booth business is actually one of the fastest growing ways to make great money. And photo booth supply company makes it so easy. Even if you've never owned a business before, weddings Parties, corporate events. Photo booths are a must have for every party. And with with photo booth supply company you get the hottest photo booths step by step guides and expert one on one coaching to help you get it up and running fast. And get this photo booth supply company. Top earners make over six figures a year. Whether you're looking for a side hustle or ready to build a full time business now it's the time to start. The summer is the busiest season. For a limited time, photo booth supply company will give you their quick start program for free. Loaded with all the resources you need to launch your business and make money this season. Curious how much you can make by running your own photo booth business? Check out the free free profit calculator at startphotobooth.com secrets that's startphotobooth.com secrets startphotobooth.com secrets from the ground up. Then you're @hgtv. So from, I mean over a decade now. Give people some credibility as obviously you've given us so much information here and the number one flipper. But talk to us about some of the numbers here like how many houses we estimated and saw some articles about how many houses you flip. Like give us how many have you flipped? You know what's, what do you think as far as profitability? Like from a margin perspective, what does it look like? Show us the numbers. Show us the numbers. Because the numbers don't lie and the numbers have a.

[Tarek El Moussa]

Sure, sure. So since I started in 2010, I've done right around a thousand deals.

[Jason Tartick]

Okay.

[Tarek El Moussa]

Which, I mean that's a thousand flips. Flips in wholesales. A thousand of them. Probably a little bit more actually right now we are probably, we're averaging right now in Southern California, I'd say about 15 transactions a month. Month.

[Jason Tartick]

Okay, that's, that's wild.

[Tarek El Moussa]

Yeah. And we're wholesaling and then those 15 transactions, our average profit per deal I think comes in at about 45,000. So you know, it starts adding up.

[Jason Tartick]

So you can make, you know, some months you're making a million dollars in profitability from flipping homes. And how big is your organization?

[Tarek El Moussa]

Pretty lean actually. So with the last few years, everything going on, I really got super hyper focused. We got lean. We're better, we're faster, we're smarter than we've ever been. My sales team is only four people and the person running the sales team is my lead salesperson as lead manager. And we have a unit, we're all rowing in the same direction. They're doubling Their income from last year, they're getting coached, they're being trained. I'm teaching them. So I'm just very excited because I bring these, you know, I bring these people in these, these, you know, guys and girls that, like you were saying, they're looking for a better way. I bring them into my ecosystem and I show them a better way. I teach them a better way. So, like, I'm always hiring. So if someone's listening, you're talented and you're special, whatever it is you do. I'm hiring because I want to cultivate and motivate and teach people how to become successful.

[Jason Tartick]

Right. It makes perfect sense. And I think the cool thing about what you're doing is you need a computer and a phone.

[Tarek El Moussa]

Not even a computer.

[Jason Tartick]

You know what I mean?

[Tarek El Moussa]

Just a phone.

[Jason Tartick]

Yeah, just a phone. Really? You just need a phone. So that I think it's pretty cool. And the way that you've taken such practical information and then have brought it to media and entertainment space, I think is really cool. The last season finale of Flip Off Wild show concept, by the way. You and your current wife go into competition with your ex wife to see who can essentially gain the greatest profitability by flipping homes. And to no surprise, listening here and you know, no, no shade to anybody. But to no surprise, Tarek, of course wins. Your ROI was 38.15% compared to Christina's, which was 23.89%.

[Tarek El Moussa]

A little bit bigger, you know, a little bit bigger.

[Jason Tartick]

Almost double. Just say, christina, I watch your stuff. You are a hero. But almost double. Talk to me about this. When you do a show like this, didn't you guys have a bet where there was like a. You owed $2,000 every week, something like that? Like how much money? And then a challenges.

[Tarek El Moussa]

I would get so mad.

[Jason Tartick]

So how much in total did you actually win in just the betting competition?

[Tarek El Moussa]

I think we won four, 8,000, by the way. Christina, I'm waiting for my vacation.

[Jason Tartick]

Yep. Oh, she owes you a vacation.

[Tarek El Moussa]

She owe me a vacation.

[Jason Tartick]

Where's your vacation gone?

[Tarek El Moussa]

We don't know yet. Cabo.

[Jason Tartick]

Cabo is a good one. If you had to give us one thing, one thing that allowed you in a short period of time to beat Christina in this specific competition with flipping, what was it?

[Tarek El Moussa]

One thing.

[Jason Tartick]

What was the one thing that you thought the trading secret, the thing that allowed you to come through with a 38.5% profitability.

[Tarek El Moussa]

Knowledge.

[Jason Tartick]

Knowledge, okay. Of the market.

[Tarek El Moussa]

I've lived, not just the market. You got to understand, I've Been a cold caller. I've been a door knocker, I've been a contractor, I've been a cleaner, I've been a gardener. This is all for real estate. I've sold them, I've bought them, I built them, I've remodeled them, I've leased them, I've rented them. I've done every single aspect of this business from the ground up.

[Jason Tartick]

I love it. It's pretty cool when we talk money here, hearing about what you're doing on a monthly basis, maybe up to $1 million in profit in some months, maybe even more. How does when it comes to your income compared to what's been such a successful and long run business with hgtv? Like when you look at like the actual business and the income side, I.

[Tarek El Moussa]

Will say I've done pretty well and they're all pretty powerful. I would say TV for me is just as powerful as real estate.

[Jason Tartick]

And is it powerful because of the branding aspect or is it powerful because of like the potential career span, etc.

[Tarek El Moussa]

Honestly, I do good as talent. You know, I've done a lot of hit shows and you would think the branding would be some like miracle worker for the. Oh, God, it's not. Yeah, I mean you, I mean, we're at war every single day now. Does it give me an advantage and an edge? Yes, it does. But I'm also in the most competitive environment in the world. Southern California.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

Real estate.

[Jason Tartick]

Okay. So this is one that I think would go to any listener here, whether they're in real estate, want to be in real estate, or not even buying real estate. They're all dealing with negotiating. You got to negotiate right now. Especially your, you know, whatever it is, your annual raises, it could be your vendors, it could be anything. Right. People are negotiating. So you're at HGTV, 10 plus seasons. 10 plus. I mean, over a decade from 2013. And now you have a new show coming out. How do you understand what your value should be in entertainment and what are some tactics you use to negotiate in that space? Because that's a different negotiation style than what I would assume you're doing with flipping houses.

[Tarek El Moussa]

It's a totally different negotiation style and it's a pretty easy question to answer. The second I feel like my value's being diminished by spending it on TV versus spending it on my businesses, it's time to leave tv.

[Jason Tartick]

Okay. And so with that leverage, you could say, I need to go here and if I don't, then we got to step it up. It's got to make it make more sense. Yeah.

[Tarek El Moussa]

I could leave TV at any time. So, you know, tv, that's not like, you know, it takes time. Right. So when I'm doing tv, that means I can't be doing real estate.

[Jason Tartick]

For sure.

[Tarek El Moussa]

And I'm pretty good at real estate.

[Jason Tartick]

Yeah, for sure.

[Tarek El Moussa]

So if I get to a point where I'm not able to get paid the money I need to be paid, then I just stopped doing it.

[Jason Tartick]

I think it makes perfect sense. All right. And now, speaking of negotiation with hgtv, you did it again. You got another show coming out, still running Strong from 2013. Tell us a little bit about your new show.

[Tarek El Moussa]

So season three, Flipping 101 premiered in April.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

And it's a wild season because we actually filmed it about two years ago. Right when the rates had started going up. You had all these rookie flippers paying too much for houses, putting their life savings on the line. Of course, not listening to Tara because he doesn't know what he's talking about, obviously, which makes a lot of exciting tv. I mean, the truth is, the show would be terrible if they actually listened to me.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

I mean, if they listen to me, where would the.

[Jason Tartick]

You wouldn't have a show.

[Tarek El Moussa]

You wouldn't have a show.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

So based on the fact that everybody thinks they know better than everyone else makes a great TV show.

[Jason Tartick]

Interesting. So, like, this is a season where, like, fireworks are flying. Like a little drama, a little head to head, a little bit.

[Tarek El Moussa]

Oh, there are. Yeah, there's some drama in there. There's actually these two ladies working together. They start off as friends. I don't know how it ended.

[Jason Tartick]

Okay, I like that. Well, one other thing I got to ask you. I wrote a book on love and money, and you have been through a divorce. And then, of course, you now are remarried and then you do a TV TV show together. I've already kind of alluded to it, but my question is, how do you specifically manage? I mean, so many people struggle with relationships, and so many 56% of people are divorced. And the idea of having, like, a cordial relationship after that, especially when there's business ties and competition, it's. It's unheard of. We're talking about 1% of people. How are you able to not only do that, but then do it in a form where you guys are like. Like being on tv and what advice do you have for people that can't do it in any capacity?

[Tarek El Moussa]

Got it. So I'll say this. Something that's important to me when I leave this planet is knowing I did the right thing and I was a good person and I brought value to this world. Another thing that's important to me is making sure I am the best parent possible to make sure my kids have the best shot at the best life possible. So the second I start letting my adult feelings, emotions, insecurities and egos get in the way, what's important for my kids, I lose. So no matter what, I will always do whatever it takes to protect my babies. And if that's filming shows with their mom and being nice with their mom and I'm not doing it because of that, time has helped with that. But even if we hated each other, I would still do it for my babies.

[Jason Tartick]

Wow. So it's just. It's the idea of just not making yourself like it's not about you. There's a greater.

[Tarek El Moussa]

There's a greater act like an adult. It's not about you. Now, if you don't have kids, go to war, kill each other.

[Jason Tartick]

Other. Yeah, yeah, yeah. I like it. That's good advice. All right, one thing I want to do is do a quick 180 here. So we've talked from your perspective of flipping. Now I want to talk to your perspective of being a consumer. So we have all your information and now we are consumers. So if I am going to buy a house and let's say it's a flip, so the person I'm buying it from flipped it. Where are areas that I can negotiate? You're. Now you're giving me tips to negotiate against you. What are things I should look for? Where areas I can negotiate? What are questions I should ask? So here important buying a flip.

[Tarek El Moussa]

The majority of flippers. Majority. One, they're not pulling permits.

[Jason Tartick]

Mm.

[Tarek El Moussa]

Two, they're doing shoddy work. And three, they're doing it wrong.

[Jason Tartick]

So that's. That's is golden. And for like listening right now, it's. It's the definition of like a trading secret. You're not going to find this anywhere. So this is good.

[Tarek El Moussa]

The real estate industry is the biggest industry on planet earth and it has so many problems with it.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

Like, so many problems. And I, like, I lost my train of thought and I was about to tell you something.

[Jason Tartick]

But it's the problems about this is where we're going with this is like, I'm a consumer and I want to go in and I know you are flipping this house and this happens every day.

[Tarek El Moussa]

So here's what you got to do. Permits, very, very, very important, especially if you're buying from a Flipper.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

You need to get all the disclosures you want a list of. And this is after they accept your offer, by the way. You don't want to scare them off till they take your deal. And that's what people don't understand. As a buyer, when you sign a deal, you can back out of the deal. As a seller, you can't. And most like. So as a buyer, you go in nice and happy the second you get a contract, it's time for war.

[Jason Tartick]

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[Tarek El Moussa]

Permits, I want to see the work. Were they licensed, were they bonded, Were they insured? Is there warranty on this work? Then you get a home inspection, then you have a contractor come in, you rip it apart, you find all the problems. Can I. I'll give you a crazy story. We just, I mean this is actually, we haven't really shared. This is the first time I'M sharing it. We bought a brand new home. Inspection for our family. We were supposed to move in two weeks ago. Brand new house. Newport beach. Brand new. And we demoed our closet and we found some water damage in the corner. Turns out somehow throughout the entire brand new house, there was mold under all the flooring.

[Jason Tartick]

Oh, geez.

[Tarek El Moussa]

Because at some point, there was some type of a leak from the pool that came in through the foundation, never dried. And they put the floor on top and it created this moisture barrier.

[Jason Tartick]

Barrier.

[Tarek El Moussa]

So this brand new house we bought, we just had to rip out all the flooring, all the cabinets, all the counters, and we're pretty much gutting this house. And things like. And I'm a professional. And it happened.

[Jason Tartick]

How much did you lose on that?

[Tarek El Moussa]

Oh, I don't know yet. I don't know yet.

[Jason Tartick]

If you had to guess, how much you think?

[Tarek El Moussa]

Well, I mean, if the law holds up, I'm owed probably a half million dollars.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

If it doesn't, I'm gonna get screwed for a half million dollars or I'm gonna spend a half million fighting it.

[Jason Tartick]

And that's one of the best. I see what you're saying. But that's one of the best in the world. Doing it. And you. Those things still pop up.

[Tarek El Moussa]

And they still pop up.

[Jason Tartick]

Okay, so then let me ask you this.

[Tarek El Moussa]

Okay? So I just want to say one more thing. So you want to. And this is one thing people don't do. They don't check the quality of the work. So remember this. Open and close the kitchen drawers. Do they rattle? Do they shake? Do they make noises? Do they feel sturdy? Do they feel flimsy? I want you to go walk in every shower, and I want you to literally stare at the tile. Is it straight? Are the gaps in line? Is it off? Look at the quality of the work. Like, look at the shampoo niche. Is the tile cut straight? Straight. Like if you really look, you're going to start noticing the work. Oh, my God, the tile's crooked. There's a half inch gap. A quarter inch gap. And then you know that you don't want to buy that because they're hiring the fastest, cheapest workers to do that work.

[Jason Tartick]

Interesting.

[Tarek El Moussa]

And here's another thing.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

It's always best to buy a home off of a homeowner that remodeled their house.

[Jason Tartick]

Okay.

[Tarek El Moussa]

Here's why they cared.

[Jason Tartick]

That makes sense.

[Tarek El Moussa]

They were passionate. They held the contractor accountable. They didn't rush them. They wanted good quality. They wanted good materials. Right. You see the difference versus someone in trying to Cut corners, get in and out, make a quick buck.

[Jason Tartick]

Interesting. I also think, like, to that point, it's got my wheel spinners. I'm looking at homes. There was one home I went into and I will just broadly say he's a professional athlete in a wild professional sport. And then I saw the other home and I was looking at like, you know, she's in her office. I'm not touching anything, but she is. It says like Columbia and an MBA in accounting. And I could see the detail versus the professional athlete. House was like beaten to shit. I think that matters too. Like, if you can get an idea of who's living there, it shows the condition of the property 100%. Let me ask you this, though, because I don't want to miss it. You do I. We take this advice, which is brilliant advice. Right. Go into contract and then once you're in the contract, you're going to war. And then ask these specifics. Ask these specifics. Once you find out that they didn't have the permits, that it was done poorly, that there isn't a warranty, so you start to see the red flags. How do you then leverage that in negotiation?

[Tarek El Moussa]

It's called retrading on price.

[Jason Tartick]

Okay.

[Tarek El Moussa]

Someone just did it to me, actually, they just got a, I think a 60,000, $70,000 reduction off me.

[Jason Tartick]

Wow.

[Tarek El Moussa]

Yeah. On a brand new house we just sold in Palm Springs. Sold it for 2.4 million. They said they're going to back out if we didn't do this, this, and this. And they had me, they had me leveraged because this project was a nightmare and I don't want to deal with it. So I said, fine, I'll eat the 60, 70 grand.

[Jason Tartick]

Interesting.

[Tarek El Moussa]

So that's what you do. So you go in, let's say you have house under contract for 1.6 million. You find out all these problems. You're like, most will pay is 1.45. 1.5.

[Jason Tartick]

Okay.

[Tarek El Moussa]

And at least get opens up for negotiate.

[Jason Tartick]

Yeah. Makes perfect sense. All right, guys, we're learning a lot of things here. There's also a lot more we can learn because we have had a lot of people come on this show and write a book. So the biggest question I always. Your book came out in April, Flip youp Life. I always like to tell people one of the hardest things to do. One of the hardest things, more than even flipping a home, as we've learned, is selling a book. So when people are listening right now, you've given them reason to continue to listen to you. I'M sure they already do know who you are. But why do they buy this book?

[Tarek El Moussa]

Very simple. You only buy this book if you want to know what it really takes to become as successful as humanly possible.

[Jason Tartick]

Wow.

[Tarek El Moussa]

Because this is the exact story of how I got to where I got, what I did, what I said, how I did it. And if anyone reads this book and they can duplicate my thought process and the way I see the world, they will be more successful than they ever imagined. I actually challenge you personally. Read this book. I know you're motivated. I can tell. You learn. You want to read this book?

[Jason Tartick]

Yeah.

[Tarek El Moussa]

I promise you it'll change your life.

[Jason Tartick]

Do you have an audiobook?

[Tarek El Moussa]

I do. I did it myself. It was torture. It was a nightmare. Worst thing in my life.

[Jason Tartick]

Way worse than tv. I love it. I will listen to audio. I'm a big multitask guy, adhd. So I'm going to listen to it and work out. I'm going to knock this out. Okay. I'm going to get a trading secret from you that's. That's equivalent to your whole entire life. But before I do that, I'm going to get a double session, two for one. I'm going to get a trading secret on your book. When I do listen to this book. When you wrote this book, if you could summarize in one trading secret, like what is one secret of the many that are in here, the golden tickets, what's one people got to know? One trading secret that's in this book. Well, one trading, one tip, one secret, one advice.

[Tarek El Moussa]

I would say my only secret is I wrote this book. Book as if it was the book I needed when I was a 20 year old kid. When I was in 60 pound, overweight, alcoholic, unemployed, ready to like end my life. That's who I wrote this book for.

[Jason Tartick]

Wow.

[Tarek El Moussa]

And the secret is this. We've all been lied to about everything our entire life. Every single thing is a lie. And I prove it every single day with everything I do. From your parents to your teachers. But you know what the truth is though?

[Jason Tartick]

What do you mean by that, though?

[Tarek El Moussa]

They mean what? Well, they don't know any better. Yeah, they really believe what they're saying. Like our parents, when they tell us stuff, they believe they're right. To this day my mom tells me to leave all I'm doing and go back to school just in case. You see. But she believes that. Yeah, but it's wrong.

[Jason Tartick]

Right?

[Tarek El Moussa]

You see what I'm saying?

[Jason Tartick]

Yeah. I think a lot of people that advise us are operating either in places that they had yet to do it and. Or they're operating of their own fears in which they want to feel safe.

[Tarek El Moussa]

And for most people, like, oh, get advice from the right people. Okay. I grew up in Buena Park, California. I remember my neighbor had a C class Mercedes. I'm like, they're rich. I should go ask them what they do. No, they're not rich. And don't ask them. Find the most successful people in the world at whatever it is you want to do. Read their books, study them on YouTube, listen to their podcasts, and start building who you want to be.

[Jason Tartick]

I love it. Great advice. All right, so go check out Flip youp Life. I'm going to be listening to it out February, Your new show, HGTV Flipping 101 Right, is out. It premiered in April. Everyone's going to have to check that out. I will highly encourage. I watched it and it was pretty damn good. The HGTV show, the Flip off with Tariq and his ex wife and current wife. Highly entertaining. But we gotta wrap with this. This is, this is the. This is the creme de la creme. The Trading Secret. So those were specific to your book. You've given us 10,000 trading secrets on real estate. This could be a financial trading secret, a life trading secret, career, navigation, anything. But it's specific to all. Everything you've been through for entertainment, to flipping homes and the thousand plus that you've executed on what? Can you leave this with Tark?

[Tarek El Moussa]

I'm going to simplify real estate investing to one single metric that if anyone follows this metric, they will change their life.

[Jason Tartick]

Okay.

[Tarek El Moussa]

And it sounds crazy. The story's in my book.

[Jason Tartick]

I'm locked in.

[Tarek El Moussa]

It comes down to contacts. A contact is a conversation. There's only two ways to find real estate deals. Way number one, talk to people that own them. Way number two, talk to people that sell them. So there's two ways. Now, if you do that five days a week and talk to at least At a minimum 30 people a day and ask them if they have any deals that you can buy that are distressed, you will find deals. You don't have to know anything about real estate. Nothing. You're going to learn just by asking questions. And another thing, people say, well, what do I say when I call? Call Google, Tarek El Moussa, go on Zillow. I used to do live calling sessions. They're all there. You can literally watch me make live calls and listen to the questions I'm asking. I teach people. It's all there. What prevents people from success is they're not doing. They're wondering. But what the hell are you wondering for? The answers are there. You just have to make the decision to take action. And that's where people. They don't take the action. They don't do the doing. They talk about the doing. They practice, they study the doing, they watch the doing, they read about the doing. Doing, but they don't do the actual doing.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

So anyone in the world today, if they called people that sell houses or own houses or knocked on doors, talk to 30 people a day for 90 days, I guarantee they'll make more money than they ever made in their life.

[Jason Tartick]

Wow. Geez. Keep it simple, right? Like, that's how I got it. Execute. And like, my trading secret that I got from you. There's a lot of, like, specifics that I'll be executing on. I don't know if I'll ever go through a house tour again and not think about you. By the way, I'll be in the bathroom staring at the dial. Is that straight? No, it's not.

[Tarek El Moussa]

Not.

[Jason Tartick]

But I think the big thing is, like, paralysis analysis. Like, you just. Just do it. Just execute on the deal.

[Tarek El Moussa]

Can I tell. Can I tell you one story? Yeah, just one story. And this is. This should be very impactful.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

I graduated high school, I got my real estate license. I started selling real estate. I was, like, 20 years old, JCPenney pants, white socks. My first six months in the business, I'm holding open houses. I'm doing all the bullshit that everybody's doing it. Make no money, no clients, nothing. It was. It was awful, Right? One day, I ended up going to this coaching thing. It was a free coaching event where they sold coaching. But at the event, this guy, his name was Mike Ferry, he was a professional speaker. He convinced me I was gonna be the world's top producer. I was gonna be a millionaire. I was gonna sell the most houses, blah, blah, blah. He convinced me to sign up for coaching. It was a thousand dollars a month in 2003, which is like a million today. Okay. And at the time, I broke up my girlfriend, my parents got divorced. My mom rented out my bedroom for income. So I was sleeping on a cot in the garage next to my dirt bike. I had no money driving 1985 Buick. So I signed up for coaching. And here's what happened. I didn't know anything about real estate. And my coach said, I need you to talk to 20 people a day, easy. I'll do 50. He's like, no, you Won't. I'm like, no, I will. He goes, no, you won't. Nobody does. You won't even do five. I'm like, I'll do 50. So then I said, we call it the 90 day sprint. I told my coach, I think his name was Dean Cheatham. 90 day sprint for 90 days, six days a week, I'm going to make 50 contacts a day. And on Sunday nights, I'm going to work for three hours. I did that for 90 days. You want to know what happened after 90 days?

[Jason Tartick]

What?

[Tarek El Moussa]

I brought in $300,000 in commissions.

[Jason Tartick]

Wow. Just in 90 days.

[Tarek El Moussa]

But let me tell you the funny part. I didn't know anything about real estate. So I had to break. I had to bring another realtor with me on the appointment.

[Jason Tartick]

Yeah.

[Tarek El Moussa]

So I only got to keep half. So Now I'm a 20 year old kid, made 150 grand in 90 days. A few months later, I bought a million dollar house up in the hills. Wow.

[Jason Tartick]

Not even knowing. Not even being able to spell real.

[Tarek El Moussa]

Wanna know how I did it? 50 contacts a day.

[Jason Tartick]

That. That whole, that whole solution. That formulaic solution.

[Tarek El Moussa]

Yeah. Because if you ask enough people the same freaking question, someone's gonna say yes.

[Jason Tartick]

Yeah. Especially if you're in the right lane.

[Tarek El Moussa]

Exactly.

[Jason Tartick]

Buyers, sellers, there's a lot there.

[Tarek El Moussa]

That's it, folks.

[Jason Tartick]

That's it, folks. Well, Tarek, I'm gonna have to get out to. We already brought it up. Visit Anaheim. I'll have to get out to Anaheim. We're gonna have to go see some of these flips in action. Cause I know that is your. That's your territory out there. Orange county, all over the place. But we'll make it happen. We'll be out there in April for. I think we're doing some event Stagecoach in Coachella. And I know you got another property over there. You got properties all over.

[Tarek El Moussa]

I have a house there in PJ west right next to where you guys are going.

[Jason Tartick]

You got a house everywhere. So when we get out west, we will make sure we give you a call. And you know what? Thank you so much for being on Training Secrets. Where can everyone find everything you have going on the shows, reaching out to you, your book, where can they get everything?

[Tarek El Moussa]

I mean literally everything. Tarik would be on my social media, on Instagram, it's at the real Tarik El Moussa because someone stole my account many years ago. But that's where you can find everything tar. Or you can go to TemCapital Co O.

[Jason Tartick]

Okay. And then on Tik Tok. It's tar El Muso. You don't. You didn't have to do the real on Tik Tok. And then on YouTube, I have Tarek El Moussa videos, right?

[Tarek El Moussa]

Yeah. And then I think Facebook at Target El Musa.

[Jason Tartick]

All right, cool. And you'll have to check out all things. We're looking forward to the new show and thank you for being on this episode of Training Secrets.

[Tarek El Moussa]

Thank you.

[Jason Tartick]

Ding, ding, ding. We are back, David. We are ripping and we are back. And I am excited to have you back for the recap Cap. The one and only the curious Canadian is here, hot and ready to go with a jam packed episode. David, what you think?

[C]

I'm sweating. I'm sweating after listening to that. It was intense. I would argue top three most passionate slash intense guests we've ever had. And I will put them up there with this one reminded me of rich BFF episode. It reminded me of the neti. The net.

[Jason Tartick]

I knew you were going to say that.

[C]

Netflix, how to make you rich. I think that's what it was called.

[Jason Tartick]

I will teach you to be rich. I will teach you to be rich.

[C]

Is I will teach you to be rich. I mean, this was. If anyone is out there wondering why is trading secrets on the business category of the podcast? This is why this was. Class was in session. I thought you felt that in the chair. I definitely felt that. That listening to it. I learned a ton. And intense, like, yeah, it was intense. It was good.

[Jason Tartick]

I'll say this. I had him and then I had the guy who shot bin Laden.

[C]

Yeah, it's nuts.

[Jason Tartick]

Back to back. And they were probably the two most intense interviews I ever had. And I will say, I think like it was a hot in the room too. So because there was so much intensity with both rooms, I think that that's the two most times guests sweated. The way they sweat, like, it was just intense. It was deep. This guy, I mean, obviously Tark is so passionate about what he's doing and the things he's saying is so bang on. But when you say intense, like, you know, sometimes you've been actually criticized in reviews, David, for calling people intense. Intense is not bad. No, intense is not passionate. The best coaches, the best players, the best announcers, the best actors are intense. They're passionate. I mean, did you, did you not like the intensity? Did you dislike it? What you think?

[C]

I loved it. I loved it. I loved it because it came from a place of like, he just truly wanted all 58,362 people who are going to listen to this episode. He truly wanted to reach through the speakers and shake you and say, you can do this too. You can do this too. Like, he was, he wasn't. To me, he was not offputting. He was like. It was like, okay, this guy just wants everyone to. To realize their potential and how, how possible this is. And I just love how he kind of like, showed it in a way of like, kind of what this podcast is about, which is like a little bit of a non traditional way. You know, one thing that, like a quote that I had that he. He brought out was making money is different than being educated. And I just loved how that, like, you know, and that the quote. Obviously we even lied to our whole lives. I love that because it's a little bit of a conspiracy guy, but lied to our whole library. Said even his own mother's like, maybe you should go back to school. Cool. Just in case this flipping thing, you know, doesn't keep momentum for a backup plan. So I loved his passion. I loved his intensity. I also can't wait for that other view that you talked about. But yeah, nothing better in a podcast studio. And two guys end up like, sweating after the, after the, after the interview. That, that means they're. Two people are going. They're. They're digging into it.

[Jason Tartick]

Yeah, it was, it was, it was intense. I think with this episode, there's obviously a lot of takeaways here. I do agree. Degree the passion comes from a place of education, power, and probably even frustration that, like, people can do this. Like, he did this. People can do it. I enjoyed talking to him. I mean, there's a lot, a lot of action and a lot of energy and what he was saying, I gotta be honest, I don't know how I was thinking about it. You know, we do some crazy things in the Bachelor franchise and with reality TV and all this stuff. That's gotta be. That's tough. You're doing a competition show filming with only four characters technically, and it's you, your wife and your ex wife and another guy. Like, that's gotta be. Yeah, that's a lot. Yeah, that's a lot.

[C]

That'll bring out the competitive juices, I think that, that you could say. And obviously crushed it. A 38.15 ROI. And all the homes that he flipped on that show, like, that's. That's ridiculous. That's crazy. And the equations that. Or the, the processes that he kind of alluded to, to through kind of the. The process of breaking down wholesaling I thought, like, that was a whole new thing that I'd never heard of before. And again, sounds so simple. But really talking about wanting to find where do I have here? Oh, you want look for the shitty situation, not a shitty house, because everyone thinks that flipping homes has to be a shitty house. But you know, when he really dialed in that. And then talk talked about, like, how to work the actual price that you're offering down from. From, you know, the pro. The. The. The price of the house cost to fix it minus 6% for selling plus the. Minus the closing cost and then find their break even and go under that for distressed seller. Like, all these little tips, like. And again, he's on the edge of a seat screaming at you, telling you this. It's like, okay, I. I think I believe this guy.

[Jason Tartick]

Yeah, he knows what he's talking about. He's. He's one of the best in the business. That's why he's been on TV for a decade plus doing it. It's interesting. It's like, I don't know, I kind of want to, like, take his exact philosophy and just try it on one house and see what happens.

[C]

And I thought you guys had good banter with that, where he was like, no, Jason. Like, Jason. Like, you'd be like, well, I maybe, like, push back on something or maybe give him a different. Was like, no, Jason. He would just, like, tell you these things. And I think some light bulbs went off in your head too. What I thought was really cool. Speaking of, like, passionate people, if you are. If you related to this guy and you want in on what he's doing, he might be the first guest we've ever had ad that straight up says, hey, I'm hiring. If you're listening to this, I am hiring. If you think you're capable, if you think you're that you. You're picking up what I'm putting down. I'm hiring. I would love for one of our viewers to be a little bullish here and. And contact him and go through that process, and if you do, let us know the outcome of it.

[Jason Tartick]

I love that. Do that. Let's. You know what? You should also put a challenge for me, David, in the next 90 days, you should make me do one flip like this and see how it goes. Well, a lot of action. Go ahead. You.

[C]

You did the flip with Tyler.

[Jason Tartick]

No.

[Tarek El Moussa]

Is that a flip?

[Jason Tartick]

Yeah. I mean, well, we did that. We. We. Yeah, we bought a house, we flipped it, and then we put it on the Airbnb market. Yeah, I Guess that's technically a flip. Got a lot of action. We got two restaurants in Nashville right now that are about to open. We got. Obviously, the Broadway show Last five years is going. We got a. There's a. A different. A company called Click that I'm just invested in. I'll be an equity owner in. There's a slot act. We got some magic.

[C]

David, you just said two restaurants in Asheville. You're what? You're investing in two restaurants in Nashville.

[Jason Tartick]

Yeah. They open up and, like, one opens up the next month and one opens up in, like, three months.

[C]

When were you going to tell me that? Biggest friend, you know?

[Jason Tartick]

I never told you that.

[C]

You never told me that.

[Jason Tartick]

That's like, you know what's. It's crazy, dude. Like, there are times I. I can't believe that there are things I didn't tell you that I'm just like, there's no way. Like, how did I not tell you?

[C]

Well, I hope there's not more, because I. I would be a little alerted. But what kind of restaurant?

[Jason Tartick]

One is a. It's kind of cool. It's a fast food restaurant. Hot dogs and hamburgers and fries. But it's. Oh, David, his face is just like, signed me up for that. But it's got a Japanese flair to it. The chef. The chef of this restaurant. And yes, chef, because he's on both. He used to work hand in hand with Chef Nobu. So it's got, like a little Japanese flair to it with the sauces and flavor. And then in addition to that, with the marketing packages. Like, the way he explained is, like, in Tokyo, they're very. They're very marketing forward. So, like, you know, it's kind of like if you get a piece of candy, it's like wrapped in a wrapper, which is in a box, which is then in a bag and a box in a wrapper. And it's like, all designed well. And so he's big on, like, marketing and the packaging and stuff like that. So that's called Super Normal in Sylvan Park. Then we're opening up a full restaurant that's like a big, big restaurant, two stories. The second story is all for members, like, members club. It's called Lion Share. And it's like modern American Nashville with an Asian flair to it. You know, steaks and sushi, stuff like that, but with an Asian flair.

[C]

So when's that one opening?

[Jason Tartick]

It's gonna be good. That one is a little bit later. That one's gonna be. I think they're slated for, like, mid to late summer this year.

[C]

So are all these plays reasons why you want to keep a house in Nashville? Why you want to buy a house in Nashville as you look to. To kind of move to New York or wherever else you're looking. Looking.

[Jason Tartick]

I mean, there's. There's a lot of reasons, man. There's a lot that I would want to keep something here. Obviously, taxes are a big part of it. Land for Teddy's a big part of it. You know, it's kind of crazy, actually. Like, this. This. I. I had to pay a lot of money in taxes this year. I paid more money in those taxes this year than I thought I might ever make in my life. It's disgusting.

[C]

Disgusting, but it's a yes.

[Jason Tartick]

He's got something. What do you got?

[C]

No. Yeah. For those who don't know what just happened, Jason just got attacked by Teddy. He completely ripped the cord phones. But we're back. We're back. Yeah, Teddy's not down, but we're. We're. We're going to keep going here. But I was just going to say blessing and a curse. We've talked taxes before on jta, and like you said, you paid more in taxes than you thought you'd ever make it here.

[Jason Tartick]

But that's. But real quick, because of the tornadoes and stuff in the state of Tennessee, monies that were due for taxes, I think, in April are now due in November. There was, like, a relief on it. So.

[C]

Okay.

[Jason Tartick]

You know, it's not. It's still. The money's doing everything, but, like, I don't know. I'm just.

[Tarek El Moussa]

There's.

[Jason Tartick]

There's been. There's benefits to being a. A Tennessee resident. And for right now, I like it enough that I'm going to keep a place here, get a place here and stay here for a little bit. But I think there are some other moves on the radar, too.

[C]

Like, these are things that when they happen, you just got to tell me. So I don't. You don't open two restaurants, and I see my stomach's growling thinking about it. Yeah, I lost 30 pounds, but I'm ready to crush some state. Some hot dog, Japanese hot dogs and hamburgers and French fries in Nashville. So I'm. I'm down. You got to bring me out for the GR Openings.

[Jason Tartick]

I love it. I love it. Let's do it. What else you got for me in this recap?

[C]

Well, as you're talking about buying a home in Nashville, is there any. Any or what Parts of, you know, this episode? I know you're not looking to flip something, but was there takeaways that you're taking from this into your. Your process, your home buying?

[Jason Tartick]

I mean, there's every. Most. Most of the questions I was asking was because I'm looking at houses. So, like, literally everything. The problem right now in Nashville is every. Just in general. General, because of the market right now, there's so much ups and downs and lefts and rights and uncertainty of what the heck's coming next. Because of that, no one's doing anything right. So everyone's just like, staying put. People aren't buying, people aren't selling. It's just that this, like, stagnant what's going on. And so as a result of that, inventory in Nashville, from what I've seen, is pretty limited. And on top of it being limited, people aren't really moving prices. People just are paralyzed right now. They're just like, what do we do? What do we do? What's coming? Like, where was this, everything going? So as a result of it, as a buyer, you're just like, kind of stuck if you don't like the inventory that's out there for the price point that you're willing to buy. So, I mean, like, short term, I think what I'm probably going end up doing is, you know, I. Dude, I got. I got to be out of this place in 12 days. I have movers. So, yeah, I got to be out of my place in 12 days, and I have no. I'm homeless.

[C]

Okay, so insert rv. Is the RV thing that was brought up still in the plans or maybe forcibly be in the plans in 12 days?

[Jason Tartick]

I mean, I think I'm gonna hold off on the RV for a little bit, but what's coming up this week? Right, so I'm going to LA this week, and I got podcasting. We got some great guests, David. I think you'll be excited about them. We got. We got Kate Wild. So this is a. This is a wild curveball for trading secrets, an industry we have not tapped into in an industry that is definitely, you know, quite edgy for what we do and how we do it. It's just that the multi billion dollar industry has gotten so big and is viral and trending every single week. When the money comes up that we have to get in it. And Kate Wilde is on Only Fans, and we will be talking about the business aspects of Only Fans, the money that is made, how it's made, what percentage is paid to Only Fans, some of the issues that come with being an Only Fans Creator like how, you know, how do you plan, you know, impacts of a lot. There's a lot of moving parts there. I don't need to get into it. But that's going to be in. In LA we have Cordell Beckham coming on. David, I know you guys fan of Cordell.

[C]

First, first ever Love island. First ever. And o most overdue guest from any show. Love island. First ever Love island guest. Fire me up. Also Love Island USA season 6 getting the reboot reunion style from season 6 where it's more of like a Kardashian style where they're actually coming to LA and following them in their lives around la so they're not actually getting into a house which is kind of cool. Cordell Beckham not on the reboot cast. Rumor has it that he was cast for Traders. I'm just putting that out there. I have no clue. This is just David scrolling through Tick Tock while people wonder why Serena's going in there without her.

[Jason Tartick]

Boo.

[C]

Cordell. So interesting. Maybe a question you can float by him that he won't be able to answer but you could see his reactions.

[Jason Tartick]

Well, you better believe I will be asking him. We also have Emma Greed coming on. She is a former shark on Shark Tank. She is one of the Kardashians business partner and has built massive, massive brands. There's a lot of people that are big fans of her. Then we got Britney Spears's ex husband Sam coming on. So that will be a good one. And then I'm. Go ahead.

[C]

That'll be a good one because he's been making the rounds lately now that'll be a, that'll be a good one.

[Jason Tartick]

I'm curious guy will be asking the hard business question. You know what thing coming. I will be asking.

[C]

I think sometimes a curious Canadian is also like dubbed the critical Canadian. It's just going to be like a curious Canadian on the left shoulder. Critical Canadian on the right shoulder. I'm. I'm curious for Sam. I'm, I'm excited to see what energy he brings to that. So I made a art collage in seventh grade that said I love Britney Spears. I got a 5 out of 10 on it. I still remember it to this day. So I'm team Britney big time. So I'm, I want to hear this. All right, hear this.

[Jason Tartick]

I'm excited to have him on. Then we're going to Vegas to support Dustin lynch who's coming on the podcast Big Country Star. He's performing in Las Vegas. I'll be there with Tyler Cameron. And then flying to Palm Springs first stage Coach got some activations out there and then coming back, and then I gotta, you know, I'm in the process now. We got movers coming. I'm gonna. I'm gonna have to get like a short term rental that's fully furnished, throw my stuff in storage, and keep on the lookout for what's next. New York City, Nashville, and more to come. Oh, my.

[C]

No show at. At Coachella this year. Not doing it.

[Jason Tartick]

I was supposed to go, but I had a speaking event at University of Tennessee on Thursday. And then I had the Chili's deal that you saw, which was a fun activation on Monday. So it would have been too much for me to. To go from Tennessee out to Palm Springs back here. And of course we got the Teddy factor. So. I got to be honest, though. My business partner went out there. He worked on a lot of campaigns that we had out there. I. I gotta be honest, I didn't have FOMO being out there. I really, I really didn't.

[C]

It's good.

[Jason Tartick]

Yeah, I was just like, I don't know, right direction. Like, I'm excited for Stagecoach, but I don't know, I just.

[C]

I don't know who's the crew you're going to Stagecoach Coach with.

[Jason Tartick]

There's pretty much a lot of the same people that you saw Coachella. Yeah, I mean, I know there's. There's. I mean, I know, like, as far as, like, Bachelor goes, I know Justin Clays will be out there. I believe Tyler, Cameron, and Tate will be out there. Pilot Pete will be out there. Kelly Flanagan will be out there. I don't know. There's. There's a. There's a whole big list of people that I'm just like, blanking on right now.

[C]

Love it. You went last year first time, right?

[Jason Tartick]

Oh, yeah. It was the best time, man. It was the best time, dude.

[C]

No Joe Mariano this year. Sad.

[Jason Tartick]

Lana Del Rey. Got to hang out with her for a while last year. Like just totally kick it. Talk to her for like a half hour. That was so cool. No Joe Mariano, though. Shout out to Joe Mariano. And shout out too. I want to give a shout out to Kimberly. Kimberly's an avid listener to the podcast. We auctioned off a one hour virtual session with me. Every single penny of that went directly to F Cancer, the non for profit that works on early detection, prevention and anyone undergoing cancer treatment. And we sat on for an hour and just talked life and business. It was awesome. And you know, I know someone close in her family has cancer that they're. They're working through and battling through and. Yeah, a little shout out there.

[C]

Love the shout outs. Love the shout outs. F. Cancer. Yeah. Looks like you got an exciting week coming up.

[Jason Tartick]

Exciting week coming up. If you didn't know about flipping home homes, you sure know now. And you know with passion. David, I hope you took some notes. I know I took some notes. And I will tell you once I do make that purchase of whatever I do and how I do it and when it happens, I will tell you the exact precision I used that he provided me with.

[C]

Yeah, I'm excited for that. 12 days to find a house.

[Jason Tartick]

So we'll.

[C]

We'll have an update on. On the recap next week or maybe the one after, for sure.

[Jason Tartick]

Oh, we're gonna have a lot of updates lately. A lot of action out here here. Just. Yeah, a lot of action. April. April. April showers. Wow.

[C]

April fools.

[Jason Tartick]

April fools. April showers. Twister. April.

[C]

Hurricane.

[Jason Tartick]

Hurricane April.

[C]

April.

[Jason Tartick]

Hurricane April.

[C]

Yes, that is what. That's where we're at. May flowers.

[Jason Tartick]

May flowers. Let's go.

[C]

Coming around the horn.

[Jason Tartick]

Hope in April, too. We had floods. Floods, twisters. Hurricanes. Omar, I. I feel like May is going to be beautiful.

[C]

Hope everybody had an amazing Easter.

[Jason Tartick]

Yes.

[C]

And we're. We're. We're moving on to summer. We're moving on to May, and I will say we're moving on up. You've always said on your Instagram, and I'm curious to hear where you're like, are we still in 2025? It's the. It felt like it's been three years already. It's only been four months. I. Do people comment and be like, no, Jason, it's the opposite. It's flying by.

[Jason Tartick]

No, I have literally never got that once. Oh, you think it's flying by?

[C]

Flying?

[Jason Tartick]

That's the most insane thing. What do you like? What?

[C]

Flying. I think 2025 is flying.

[Jason Tartick]

You also. I forgot. I'm also talking to someone who won't read books, so. You know what, David? Sometimes there's that big saying, ignorance is bliss. That's good.

[C]

I have to read. I have to read Tarek's book. He said it's going to change my life, so I'm gonna have to read it.

[Jason Tartick]

All right. Listen to it. Listen to it.

[C]

I. I will.

[Jason Tartick]

I love it. Anything else you got before we close out? Anything exciting in your life? Fun, Wild.

[C]

Not right now. Not right now. In the business. In. I'm in business mode for. For my business, too. We got budgets, we got forecasting, we got Trying to close out the fiscal year. Season's over. Oh, look at that. I'm.

[Jason Tartick]

We got. Listen, if the curious Canadian could be dropping lines like fiscal year and budgeting and forecasting and performance. I'll tell you what, we're doing something right here.

[C]

We are. We are doing everything right. So just went through a big rebrand, color change, logo change. It's been good, man.

[Tarek El Moussa]

We're.

[Jason Tartick]

We're.

[C]

We're doing it. We're doing it.

[Jason Tartick]

You know, I was looking at. I'm looking at David. So I. Guys, I'm speaking on the microphone right now. Obviously can't see this because it's on YouTube, the recap. But I have my mic, and on my mic, I have our old Trading Secrets logo. I was looking at this picture the other day. I'm like, we really got to do. Like, this is. We got. We got to do just an Update. This was 2020. Yeah. We need a little podcast update that might. David, I'm getting serious about. I really want to bring some kind of, like, Gen Z influence into this podcast in some capacity, like co host. And I also want to. I don't know, I'm really getting tempted to do a couple, like, little solo episodes talking all things business. You know, there's just so much going on. So we'll see. We'll see a lot of action, a lot of balls up in the air. Curious Canadian, thank you so much for being here with me today. And you know What? If in 12 days from now I don't have a home, I might come knocking on your door. Just kidding, dude.

[C]

Please, please do it. Please do it.

[Jason Tartick]

I'll have a home. And I'll have a story to tell you guys. Money mafia. Thank you for being here on another episode of Trading Secrets. Hey, I want to grab another one. Last shout out that was on Dr. Josie's podcast on Iheart. Go check it out. We have Dr. Josie, a vet that gives us all the details and insight into what you need to know when you are bringing your pets to a veterinarian. That is coming soon. But this. Thank you for tuning into another episode of Trading Secrets one you couldn't afford to miss.

[Tarek El Moussa]

Me.