Vanilla Ice constructed an actual property empire and is reportedly value $20M now
There’s an extended listing of celebrities who made a fortune and misplaced all of it. Burt Reynolds, Mike Tyson and Curtis “50 Cent” Jackson have all filed for chapter up to now. Francis Ford Copolla has filed for chapter three times!
Many believed Robert Van Winkle, higher referred to as Vanilla Ice, would to find himself on that listing after his tune profession withered away.
Do not pass over
On the other hand, the rap superstar has controlled to construct a industry empire after he left the highlight. Divorce data received by means of DailyMail.com confirmed that he was once value $9 million in 2018. In line with CelebrityNetWorth.com, his internet value is now at $20 million.
“I made thousands and thousands for doing not anything!” Van Winkle instructed comic Steve-O on a contemporary episode of his podcast “Steve-O’s Wild Journey!”
Right here’s how the one-hit-wonder constructed a profitable actual property and media empire.
Desirous about actual property
Van Winkle’s greatest profession smash was once his hit tune “Ice Ice Child” launched in August 1990. The tune was once an fast hit and went directly to transform the birthday party anthem of the 90s. “We have been promoting one million data an afternoon, simple!” he instructed Steve-O.
Sadly, Van Winkle’s rap profession nosedived after “Ice Ice Child,” however the observe was once a success sufficient to assist him gather a big portfolio of actual property.
He mentioned he purchased houses “all over the place the rustic” that he “by no means used.” When he determined to dump his homes, Van Winkle says he was once stunned by means of how profitable the investments have been. “They bought truly fast and I made thousands and thousands for doing not anything! I did not even trade the carpet … and I’m going holy s— let’s pass purchase a number extra of them.”
When one in all his houses was once destroyed by means of Storm Andrew in 1992, he determined to renovate it himself and bought it. This enjoy sparked a lifelong fascination with actual property. Van Winkle says he went to design college and labored as a normal contractor for a number of years.
As of 2018, he was once making $800,000 a 12 months, in keeping with courtroom paperwork launched all the way through his divorce on the time.
All this enjoy purchasing and renovating houses gave him the gear he had to craft a long-term industry technique.
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Strategic strikes
After 30 years of making an investment in actual property, Van Winkle says he has evolved a recreation plan. He says he prefers to shop for homes which might be off-market and no longer indexed at the more than one checklist provider (MLS).
Off-market offers are uncommon. Handiest 3% of homebuyers surveyed by means of the Nationwide Affiliation of Realtors in 2023 mentioned they bought their belongings immediately from the vendor or knew the vendor as a substitute of going thru brokers or on-line checklist products and services.
He additionally buys distressed homes and belongings tax liens. He says he “places out tax dockets on homes” which supplies him a possibility to shop for the belongings “for pennies at the buck.”
Renovating those homes provides worth, however Van Winkle additionally makes use of the renovation procedure for content material. His fact TV collection “The Vanilla Ice Venture” at the DIY Community has 180 episodes throughout 13 seasons, including every other supply of source of revenue for the savvy entrepreneur.
This different actual property and media empire has helped the previous rap superstar amplify and keep his wealth.
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