Sidney Torres kicked his heroin addiction at the age of 20. Today, he is a successful entrepreneur, with a net worth of over $300 million! Torres made his fortune in real estate and has his own TV show called The Deed. Torres’ rags-to-riches story is an inspiration to many, so read on for all the details!
The best deals are the ones where everybody wins. That’s exactly what Sidney Torres is so good at. Whether it is renovating houses, creating an innovative trash company, or building hotels, Torres is an expert at making business deals benefiting all constituents. Now, thanks to a new reality TV docu-series called The Deed, Torres is helping other property investors with struggling projects by investing in their developments. On top of this, Torres is giving back to the community that has made him a person that others look up to. People are curious to know more about Torres and Sidney Torres’ net worth, so we have some details from Sidney Torres’ wiki.
Who is Sidney Torres?
Sidney Torres is a serial entrepreneur, who got into the real estate business when he was 20. Now, after two decades, he has become a millionaire, whose advice and expertise is highly sought after. Torres was singer Lenny Kravitz’s assistant for a short while, before being fired. Today, Torres says that the firing was actually a blessing in disguise because it helped him find out what he really wanted to do in his life; have a career in property development.
Coming Up the Hard Way
Torres started his career as an entry-level worker at a construction company. His job was to sweep the floors and clean the windows of newly sold homes. As Torres worked his way up in the company, he became interested in the idea of renovating houses and selling them at a profit. When he made his first effort to buy a house, he faced a major problem: he couldn’t buy a “fixer upper” on his $25,000 a year salary. Never one to give up, Torres turned to his grandmother for financial help. She told him, “You have 60 to 90 days to figure out what you want to do. If you’re still passionate, I’ll cosign and help you get your first deal done.”
A Massive Net Worth
Thanks @richardphibbs for taking all my press pics for CNBC??? Do The Deed March 1 at 10est on #cnbc #dothedeedwithsidney @cnbc thanks for making this happen @jordanshipenberg @artdeptagency Please tune in every wed night starting March 1 & Watch how I invest 1.5 million of my own money to try and guide these individuals into learning how to navigate through the real estate world. #dothedeed #thedeed #thedeedcnbc #TheDeed #frenchquartertaskforce #fqtf
With the help of his grandmother, Torres got a $40,000 loan and bought his first investment property, allowing his real-estate career to finally take off. Now he is a self-made entrepreneur, who has built an empire with his millions of dollars worth of real estate development. Sidney Torres’ net worth is a huge $300 million, and he is one of the richest men in New Orleans. He is also the host of the reality show, The Deed, a new CNBC show that premiered on March 1, 2017. Torres says that the series shows the “real side of house-flipping,” saying, “In the show, I work with individuals who can’t go get money from the bank. Some of them have involved family and friends in buying something. If I didn’t have the help to get started, I wouldn’t be where I am today, so it’s important to pay it forward.”
Giving Back to His Community
Sidney Torres is a very private person and wants to keep it that way. He prefers to let his work speak for itself; like when he developed a crime-fighting app called The FQ Task Force, which has revolutionized policing and reduced crime in the French Quarter of New Orleans. Torres also invests his money in programs that make life better for communities in New Orleans. He started a venture capital firm called IV Capital that has already invested $40.0 million to help other entrepreneurs realize their potential and build on their dreams.
It Pays to Be Good
It's such an honor for CNBC to feature me on both of there Social media sites Thanks @cnbc ??? #Repost @cnbc with @repostapp ・・・ @CNBCMakeIt #repost »»» @sidneytorresiv is an entrepreneur who has made millions in his native New Orleans. He fully embraced social entrepreneurship last year, and thinks it's something more business leaders should do. "Business leaders should get involved — not just financially involved, but get their hands dirty and find a cause to help out," Torres said. "I think it's important." Do you agree? ? #TheDeedSidney #thedeed
Now, there are rumors that Torres may run for the mayoral office in New Orleans! Torres laughs it off saying, “I don’t know, have you ever heard of anyone do reality and run for office? The polls show that I could win if I ran today. But I really think I would be better off working with someone who’s going to be the mayor. We’ll see what happens.” Despite a troubled childhood, Torres has become a role model, who has shown to the world that being successful and doing good can go hand-in-hand.