Peter Howard De Best, born in Yorba Linda, Orange County, California USA in 1972, and is an American businessman and television personality, best known for appearing in the HGTV television series “Flip or Flop”.
So just how wealthy is Pete De Best? According to sources, De Best has acquired a net worth of over $5 million, as of mid-2017, accumulated during his career as a mortgage broker and real estate investor, as well as through his involvement in the “Flip or Flop” TV show.
Pete De Best Net Worth $5 million
De Best attended Western High School in Anaheim, California, then in 1991 enrolled at California State Polytechnic University, Pomona, graduating in 1996, with a Bachelor’s Degree in Finance, Real Estate and Law.
His professional career began in the late ’90s, being a credit analyst in a local bank, after which he began working as a mortgage broker. In 2006 he founded a company called US Lending Network, Inc. in Brea, California, providing mortgage lending and refinancing. He has since served as the company’s president, establishing a reputation, and which has significantly contributed to his net worth.
In the meantime, De Best became involved in the real estate industry, achieving great success in this field too, managing and successfully selling a number of properties across the country. His wealth grew larger.
In 2011, he co-founded a real estate investment company called Next Level Property Investments, LLC, with real estate agents and then husband and wife Tarek and Christina El Moussa, and he has served as the company’s operating manager ever since. The trio purchased their first investment house in Santa Ana for $115,000, and after renovating, they sold it and earned $34,000 profit.
Since then, they have focused on flipping houses, which has boosted their real estate business too, expanding it into other states. Today, the company invests in over 100 deals per year. Its success has considerably increased De Best’s wealth.
Aside from earning him a considerable fortune, being a part of the house flipping work with his partners, the El Moussa couple, has also enabled De Best to enter the world of television. In 2012 the team was offered a regular weekly program on HGTV, portraying their work of buying outdated, dilapidated or repossessed property, renovating it and then reselling it. The show debuted in 2013, and has aired six seasons so far, being the #1 nationally aired show on the HGTV network. Achieving great popularity, it has spawned a number of spin-offs, such as “Flip or Flop Follow-Up”, “Flip or Flop Vegas”, “Flip or Flop Atlanta” and “Flip or Flop Chicago”. The show has mainly been concentrated on Tarek and Christina, following their purchasing of homes in Orange County, most of which are largely bank-owned, short sales or foreclosures. Once they buy a home, they flip it, relying on the skills of their contractor Israel Battres and his crew, and then they sell it. Whereas the El Moussa couple have been the show’s main hosts, De Best has made regular appearances. As an investor in the couple’s projects, he has received half of all the earnings from each house. De Best has mostly appeared on air when the couple needs extra money. His involvement in the show has enabled him to achieve a large amount of popularity, and has greatly contributed to his net worth too.
Meanwhile in 2014, the trio started another business together, a construction company in Anaheim called T&C Construction and Design, offering residential remodeling. The company, in which he has served as chief financial officer, has been an additional source of De Best’s wealth.
When it comes to his personal life, De Best is a married man, but details are non-existence.
