July 17, 2024

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Vanilla Ice has built a real estate empire and is reportedly worth $20 million now

Vanilla Ice has built a real estate empire and is reportedly worth  million now

“I made millions doing nothing!”: Vanilla Ice has built a real estate empire and is now reportedly worth $20 million

There is a long list of celebrities who made a fortune and lost it all. Burt Reynolds, Mike Tyson, and Curtis “50 Cent” Jackson have all filed for bankruptcy in the past. Francis Ford Coppola has filed for bankruptcy three times!

Many thought that Robert Van Winkle, better known as Vanilla Ice, would find himself on that list after his music career fizzled out.

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However, the rap star managed to build a business empire after leaving the limelight. Divorce records previously obtained dailymail.com Show that he was worth $9 million in 2018. According to CelebrityNetWorth.comHis net worth now stands at $20 million.

“I made millions for doing nothing!” Van Winkle told comedian Steve-O Last episode From his podcast “Steve-O’s Wild Ride!”

Here’s how the hit wonder built a lucrative real estate and media empire.

Fascinated by real estate

The biggest break in Van Winkle’s career was his hit song “Ice Ice Baby” released in August 1990. The song was an instant hit and became a party anthem of the 1990s. “We were selling a million records a day, easy!” He told Steve-O.

Unfortunately, Van Winkle’s rap career declined after “Ice Ice Baby,” but the song was successful enough to help him accumulate a large real estate portfolio.

He said he bought homes “all over the country” that he “never used.” When he decided to unload his holdings, Van Winkle says he was surprised by how profitable the investments were. “They sold out so fast and I made millions for doing nothing! I didn’t even change the carpet… and I went – let’s go buy another set of them.”

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When Hurricane Andrew destroyed one of his homes in 1992, he decided to renovate it himself and sell it. This experience sparked a lifelong fascination with real estate. Van Winkle says he went to design school and worked as a general contractor for several years.

As of 2018, he earns $800,000 annually, According to court documents He was released during his divorce at the time.

All this experience in buying and renovating homes gave him the tools he needed to formulate a long-term business strategy.

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Strategic moves

After 30 years of investing in real estate, Van Winkle says he’s developed a game plan. He says he prefers to buy properties that are off-market and not listed on the Multiple Listing Service (MLS).

Off-market deals are rare. Only 3% of homebuyers surveyed National Association of Realtors In 2023 they said they bought their property directly from the seller or knew the seller rather than going through agents or online listing services.

He also buys distressed homes and property tax liens. He says he “sets up real estate tax tables,” which gives him the opportunity to buy assets “for pennies on the dollar.”

Revamping these properties adds value, but Van Winkle also uses a content revamping process. His reality TV series “The Vanilla Ice Project” on DIY Network has 180 episodes in 13 seasons, adding another source of income for the savvy entrepreneur.

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This diverse real estate and media empire has helped the former rap star expand and maintain his wealth.

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This article provides information only and should not be construed as advice. They are provided without warranty of any kind.