Celebrities Are Investing In Real Estate
More and more celebrities are investing in real estate. How are they doing it? What does it mean for us regular folk?
Magic Johnson, Beyonce Knowles, Young Jeezy, Lebron James, Floyd Mayweather, Devin George, Arnold Schwarzenegger, Vanilla Ice, Ellen, Robyn Dixon, Kanye West and Kim Kardashian, and of course before he became President of the United States Donald Trump are just a few of the big name celebrities in real estate today. Then there is a whole new generation of real estate agents and house flippers who have become celebrities for their appearances on reality TV shows.
Celebrities are redecorating and flipping big luxury homes. Others like Richard Branson and David Copperfield are renting out stylish pads and even whole islands. Moguls like Trump are building branded empires and are renovating and revitalizing legendary golf communities and hotels. Even just putting their name on the chain of title to a property can add a ton of value.
If Hollywood A-Listers are investing in real estate versus just acting or engaging in other business and brand endeavors, that says something about the money to be earned here. What this means for the rest of us is that real estate investing can be a good business and investment choice, regardless of how much money you are making. Investing in real estate might even make you a celebrity. It might even be able to take you as far as the White House.
There are lots of ways the average Joe or Jane can benefit from celebrities in real estate too. If you’re a real estate agent, realtor or real estate wholesaler find celebs to sell to your wholesale deals or listings to. They need inventory just like everyone else. Look for opportunities to capitalize on homes that these stars owned, rented, or even lived next door in the past. Upgrade your networking circles to include more of these public personalities, and their professionals who are involved in their business and financial decisions.
If you are already flipping houses and think you deserve your own TV show, then look for opportunities to get picked up. Don’t expect talent scouts to come find you. Find out where they are hosting auditions, who you can contact with pitches, read up on how others landed a show, or just get started right away with your own YouTube channel.
Of course it is also important to point out and remember that you don’t have to be flipping the highest end luxury housing to make a profit in real estate. In fact, you can make just as much at all points in the market. Though there is no question that being a celebrity in your niche, and owning a recognized real estate brand, even if that is just your personal brand can be extremely powerful. Leverage celebrities in the marketplace. Leverage the public’s insatiable desire for celebrity. But stay focused and keep your eye on the hard numbers and your personal goals.
I”ll See you at the closing table,
Marcel Umphery the “R.E.I. Successmaker”