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Home Gossip Sidney Torres' Net Worth - From Grandma's $40,000 Loan to $300 Million Fortune

Sidney Torres' Net Worth - From Grandma's $40,000 Loan to $300 Million Fortune

aisha Thu Sep, 2019
Sidney Torres' Net Worth - From Grandma's $40,000 Loan to $300 Million Fortune

44 years old entrepreneur and real estate tycoon, Sidney Torres holds an amazing net worth of $300 million throughout his career as of 2019. The real estate tycoon also hosts a show called The Deed where he loans money to people who wants to flip house or building. 

Not only from his estate business Sidney also earns a whooping salary from the show The Deed. Let's find out what is Sidney net worth and how did he earned it below.    

Struggles Throughout his Achievement

Torres had a very rough childhood when his parents were separated and got divorced. When Torres's mother said to make a decision between his lifestyle or the family to his father."OK, you guys can leave now" is what his father said to them. From that day onward the 14 years old Sydney started to take heroin while his family was facing the worst situation.

While being in the most dangerous situation his parents didn't notice that he already has become a drug addict. Fortunately, his grandma saw it and said ‘You have to do something with your son or he is going to die’.” From that day onward his parents got along with each other and Sidney was sent to boarding school and was saved temporarily. 

Soon after his school, he started working with Lenny Kravitz who is an American singer. While he was working with Lenny Kravitz for 2 years he was again falling for his old habit, drugs. Shortly after finding out Lenny fired him but Torrey claims that he was a bad person and he was wrong.

By 1997 Sidney was a clean man he says it took 48 hours to detox before he could even stand up. He then got a job to work for a contractor after starting all fresh.

Grandma's loan

sidney CAPTION: Sidney Torres with his father and grandmother SOURCE: https://www.facebook.com/sidneydtorresiv/?tn-str=k%2AF

At the age of 20 while his earning was not enough he wanted to repair a duplex and sell it and for those, he wanted a lot of money. Then his grandma agreed to cosign a loan deal of $40,000 and said "You have 60 to 90 days to figure out what you want to do. And If you’re confident and passionate about what you want to do I will cosign you".

There is a saying that Behind every successful man, there is a woman so here the woman is not other than his own grandmother. 

His first deal was successful as within three months he was able to pay his debt back to his grandmother and even expanded his investment by building luxury hotels in the Bahamas and New Orleans. Within 6 or 7 years he had made real estate development of $100 million worth. 

Achievements 

sidney CAPTION: Sidney Torres with his dog in a private jet. SOURCE: ABC

The Deed host is a real estate tycoon, a host in the show The Deed and has created a crime-fighting app. The app helped clean up the street of New Orleans and got a positive review by the people and also got a positive review in NewYork Times. 

From all the work he has done in his career all have been a great success. That's the reason why Sidney has made a net worth of $300 million. While Sidney was earning from his estate business he bought a Ferrari and other 3 cars while his bankers saw those and said “Do you have enough cash in the bank to pay off the loan you are requesting from me and own those cars? Show me you are serious and I will lend you the money.” 

Right after hearing that he sold those cars and bought a pickup truck which showed how much he cared for his employee. Then he realized that he doesn't want that thing that much. At the age of 23, he made his first million-dollar by sacrificing things like sleeping in cars to rent his rooms. From sweeping floors and cleaning windows of the new houses now Torres has become a successful businessman.