- Update May 30, 2018: We’ve added details about Seasons 2 of The Deed
Real estate developer and serial entrepreneur are a few ways to describe New Orleans native Sidney Torres IV. Known for his innovative businesses practices at SDT Waste & Debris and FQ Task Force, and his astronomical gains in real estate development, Torres will host six one-hour episodes of CNBC’s The Deed Season 2, which airs Wednesday, June 13, at 9 p.m. Central Standard Time.
So what is there to know about Sidney Torres IV and The Deed?
Who is Sidney Torres IV?
Born in New Orleans, Sidney Torres IV got his first start in real estate development at the age of 20, according to his official bio. After working in construction, Torres received a loan co-signed by his grandmother for $40,000 to flip his first home located near the Uptown neighborhood. After Torres renovated the shotgun home, it was worth $100,000.
Since his first flip, Torres developed over $250 million in real estate. Most recently, Torres has partnered with Edwards Communities, creating a mix-used development located near the Lafitte Greenway. The proposed development will have 382 apartments, office spaces, and a potential coffee shop.
Jumpstarting SDT Waste & Debris and IV Waste
Shortly after Hurricane Katrina hit New Orleans in 2005, Torres jumpstarted a new waste company, SDT Waste & Debris, to spur clean-up and recovery in the French Quarter. After the recovery of the City, SDT Waste and Debris Series, continues to serve the New Orleans French Quarter and CBD neighborhoods, along with the St. Bernard and St. Charles parishes. In 2011, the SDT Waste and Debris services was bought by IESI Corps.
In July of 2016, Torres announced that he would return to the waste business, but focusing solely on commercial pick-up in the French Quarter. Operation of IV Waste started at the end of summer of 2016.
Creating a crime-stopping app
Torres also jumpstarted a crowd-source policing for the French Quarter, called FQ Task Force. Founded in March of 2015, Torres launched the French Quarter Task Force, a team of officers in mobile vehicles that tackle crime in the French Quarter. According to the City of New Orleans, the officers were initially funded by Torres.
Torres also led the development of the French Quarter Task Force app which allowed residents to report crimes and to tip police officers on the go using location-based services. According to the FQ Task Force, the team, through the use of its app, has reduced police response times to two minutes, and has led to a 45 percent drop in crime throughout the city.
The French Quarter Task Force is now funded through the Convention and Visitor Bureau from the New Orleans Hotel self-assessment tax, according to the French Quarter Management District.
In April of 2018, Torres launched a similar version of his crime-stopping app in St. Tammany Parish on the North Shore. The parish is now trialing the application until July of 2018, where it will decide whether or not to purchase Torres’ service for $50,000/year.
Assisting businesses on the coast
In 2015, Torres created IV capital, which is a private investment firm that lends funds to small and medium-sized businesses located in the gulf coast region. So far, IV Capital has invested over $40 million in small businesses.
French Quarter resident
Currently, Torres resides in the French Quarter of New Orleans. In January of 2017, Torres finished the majority of the renovations to his 19th century mansion, which is also one of the few homes in the French Quarter to have a front yard. Check out his panoramic house tour below.
According to an official press release, CNBC announced a new real estate series called The Deed in November of 2016. The show will features Sidney Torres IV and Sean Conlon as investment gurus saving failing investor from financial demise. Season 1 of The Deed premiered on CNBC on March 1, 2017. CNBC approved Season 2 of the reality show in August of 2017. Season 2 will premiere on Wednesday, June 13, at 9 p.m. Central Time
Similar to the previous season, Torres will partner with struggling property investors to assist them in turning a failing project into a blossoming phenomenon. The two real estate moguls will counsel struggling investors, provide financial investments to promising plans and even take over current developments with the assistance of the investor to ensure the properties success.
- The Latest on Sidney Torres' Laffite Greenway Plan [Curbed NOLA]
- Sidney Torres is Returning to the Trash Business With IV Waste [Curbed NOLA]
- Sidney Torres Might Run For Mayor of New Orleans [Curbed NOLA]
- About Sidney Torres, IV [IV Capital]
- This self-made millionaire bought his first flip while making only $40,000 a year [CNBC]
- Lafitte Greenway development secures tax break, affordable housing [Curbed NOLA]
- SDT Waste & Debris to be acquired by IESI Corp. [Nola.com]