CELEBRITY HOUSE FLIPPING:
FASHIONABLE OR
UNFATHOMABLE?
DECEMBER 23, 2015
Is flipping houses the ticket to securing celebrity status, or the fast track to being
relegated to the B-list?
Celeb house flipping is certainly becoming more popular. A growing number of stars owe
their celebrity status directly to flipping houses for a living. Yet, with some of the
characters headlining the real estate news and TV guide it’s worth asking if real estate
investing is a savvy or self-sabotaging move for those with big aspirations.
Celebrity House Flippers
Forbes’ Top Celebrity Home Flippers Include:
Ellen DeGeneres
Rosie O’Donnell
Ellen reportedly bagged $15M in just 6 months flipping the Brody House to Sean Parker.
Trulia’s Top Celebrity House Flippers Include:
Jeremy Renner
Courtney Cox
Jack Osbourne
Naya Rivera
Recent Celeb Home Flips in the News:
Kim Kardashian and Kanye West are currently looking to sell their ‘starter home’ for
$20M. That is almost double what they paid for it just 2 years ago. Their remodeling
additions included gold plated toilets.
Tyra Banks has listed her home for more than double what she paid for it; with a new price
tag of $7.75M. The Fablife star reportedly put $2M into renovations.
Flipping Houses on TV
Snooki and Vanilla Ice revived their careers thanks to flipping houses on our screens.
Where would they be without it?
Reality TV has launched its fair share of mini-celebrities too. Original stars of shows like
Flip This House with Than Merrill and J.D. Esajian seem to have fared better than others.
Some including Armando Montelongo and Tarek and Christina of Flip or Flop have
occasionally been battered online for the seminars and coaching programs they promote.
Though as they say in Hollywood “no press is bad press,” right?
The Bottom Line
Luxury real estate may frequently be flipped with multimillion dollar profits. Data from
Propertyshark reveals numerous 8 figure plus apartment building flips in NYC in October
2015 alone. Even a salaried Top Real Estate Executive makes a median income of $343,066
in Beverly Hills and $368,943 in Manhattan. That can go up to around $700,000 per year.
On the more modest end, RealtyTrac reveals the average profit on flipping a house can
range up to an average of $63,000 in Jacksonville, FL to $100,000 in San Francisco, CA.
That’s more than Jonah Hill got paid to co-star with Leonardo DiCaprio in The Wolf of Wall
Street. Just a couple of high-end home flips could earn real estate investors more than
most Hollywood agents, network TV presidents, and put them hot on the heels of
Many true celebs may not want to be dubbed ‘house flippers’. Neither do they want to be
relegated to taking horrible, acting career killing gigs. The bottom line is that flipping
houses are a great way to augment income, even for the A-list. More and more are clearly
embracing it, and are having a blast. For those that aren’t celebs yet; it could be the ticket
onto the big screen, or at least to the luxury lifestyle.
Summing it Up…
Even celebrities earning tens of millions of dollars a year are increasingly turning to
flipping houses for fun and supplementing their incomes. It’s certainly a smarter move
than holding onto outrageous residences and letting them be foreclosed on when your
acting or music career slows. Many find it addicting. Others are finding real estate
investment is their golden ticket to the spotlight and the luxurious lifestyles of their
favorite icons.
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