If you’ve ever scrolled through the Magnolia Network on a lazy Sunday, you’ve probably seen Michael Cordray. He’s the guy usually covered in sawdust, dragging a 100-year-old door out of a dumpster in Galveston, Texas. Alongside his wife, Ashley, he has turned "saving the unsaveable" into a very lucrative career. But when people start digging into Michael Cordray net worth, they usually expect a simple number.
The reality? It’s a lot more interesting than just a TV salary.
Most folks think reality stars get rich from the camera time alone. That’s rarely the case. For Michael, the television show Restoring Galveston (formerly Big Texas Fix) is just the marketing engine for a massive, multi-pronged business machine. He isn’t just a "TV personality." He’s a real estate broker, a developer, a retail owner, and a hospitality mogul.
The Save 1900 Engine
The foundation of Michael’s wealth is Save 1900, the restoration and real estate company he and Ashley founded. They don't just flip houses in the traditional "paint it grey and sell it" sense. They buy dilapidated, historical wrecks—often ones slated for demolition—and bring them back to life.
In the early days, they were doing one house a year while working corporate jobs at a barge company. Michael was actually hesitant to quit his day job. Ashley had to bug him for over a year before he finally took the leap in 2015. Since then, the scale has exploded.
By 2026, Michael has closed hundreds of real estate deals. If you look at the public records for his realty firm, Save 1900 Realty LLC, the numbers are staggering:
- Total Sales Volume: Over $20 million in the last two years alone.
- Individual Property Values: Ranges from $190,000 for small cottages to over $1.3 million for massive Victorian estates.
- Inventory: At any given time, he’s managing several active listings worth millions.
Diversifying Beyond the Flip
Smart money doesn't stay in one lane. Michael realized early on that selling every house he fixed was a missed opportunity for long-term wealth. He shifted a huge chunk of his portfolio toward short-term rentals.
If you go on Airbnb today, you’ll find a dozen or more "Restoring Galveston" properties available for rent. Instead of a one-time profit from a sale, these houses generate monthly cash flow. In a high-tourism area like Galveston, a historic home with "as seen on TV" branding can fetch a premium. We are talking about properties like the famous "Kettle House" or their boutique hotel project, The Mansard House.
The Mansard House was a pivot point. It moved them from residential flippers to commercial hospitality owners. A 12-room boutique hotel isn't just about the real estate value; it’s a business with its own valuation based on daily revenue.
Breaking Down the Revenue Streams
To understand the full scope of Michael Cordray net worth, you have to look at how many ways he’s getting paid:
- Magnolia Network Salary: Stars on established Magnolia/HGTV shows can make anywhere from $15,000 to $40,000 per episode. With multiple seasons and spin-offs like Restoring Galveston: The Inn, that’s a solid six-figure baseline.
- Real Estate Commissions: As a licensed broker, Michael keeps the commission on his own flips and earns a cut from the other agents at Save 1900 Realty.
- The Retail Factor: They own a brick-and-mortar shop selling home goods and "Save 1900" merch.
- Food and Beverage: Recently, they opened Cordray Drug Store, a hand-rolled ice cream parlor, and have dipped their toes into the restaurant business.
Honestly, he’s building a "mini-Magnolia" ecosystem right there on the island. Just like Chip and Joanna Gaines did in Waco, Michael is creating a destination.
Why the Numbers Are Often Underestimated
Most celebrity net worth sites peg Michael at around $2 million to $5 million. That feels low when you actually look at the equity.
Think about it. If you own 15–20 properties in a coastal market where the average price is $500,000, and those properties are fully restored, your assets alone are worth $10 million or more. Even with mortgages and business overhead, the net equity is significant.
📖 Related: Everything You Need to Know About Natalya Maslova on Muck Rack
Michael’s strategy is "buy and hold" whenever possible. This means his net worth grows with the market, not just with his sweat equity. Galveston has seen a massive surge in property values over the last five years, and since Michael specializes in the "East End" and other historic districts, he’s sitting on some of the most desirable land on the Texas coast.
What Most People Get Wrong
The biggest misconception is that the show pays for the renovations. It doesn’t. Michael and Ashley have to secure the financing, buy the houses, and pay the contractors. The network provides the platform, but the financial risk is entirely on the Cordrays.
This is why Michael’s background in maritime administration—basically a business degree—was so vital. He isn't just a guy with a hammer; he’s a guy with a spreadsheet. He knows how to manage a "burn rate" when a 120-year-old foundation turns out to be made of rotting cedar stumps.
Actionable Insights for Your Own Portfolio
You don't need a TV show to build wealth like Michael Cordray, but you can steal his playbook:
- Look for the "Unsellable": Michael buys the houses everyone else is afraid of. In real estate, the most "work" usually leads to the most "equity."
- Vertical Integration: Don't just flip a house. Own the realty company that sells it. Own the shop that stages it.
- Cash Flow is King: Selling is a one-time win. Renting is a lifetime of wins. If a property is unique, consider the short-term rental market to capitalize on its character.
- Stay Local: Michael didn't try to conquer all of Texas. He focused on Galveston. He knows every street, every historical ordinance, and every local contractor. That hyper-local expertise reduces his risk.
Michael Cordray's financial success is a byproduct of his obsession with his hometown. He’s managed to align his personal passion for history with a business model that scales. While the exact dollar amount of his bank account stays private, his real estate footprint tells a story of a multi-million dollar empire built on shiplap and grit.
To get started on your own path, look into your local historical tax credits. Many cities, like Galveston, offer massive incentives for restoring old buildings, which can immediately boost your net return on a project.