Hollywood has a secret. Okay, Hollywood has many secrets, but this one will make you flip out. Many of your favorite celebrities have been scoring some serious side money in a surprising business: real estate. It turns out some of today’s most popular celebrities have made a lucrative hobby out of buying, renovating, and reselling properties all around the country. Learn a little more about the top celebrity house flippers, and let their savviness inspire your own home renovation project.
1. Ellen DeGeneres
On top of Forbes’ list of “Best Celebrity Flippers” is none other than the queen of daytime TV, Ellen DeGeneres. It’s no secret that Ellen is a fan of home renovation and design – after all, she has her own show on HGTV, Ellen’s Design Challenge, which will return to the network for a second season in January 2016. She has also successfully bought and resold six different properties, most to the tune of million dollar profits.
2. Diane Keaton
Diane Keaton’s specialty is apparently historic homes. In 2007, she bought a Spanish Colonial Revival in Beverly Hills and sold it for a $2 million profit just three years later. She has literally written the book on Spanish and Mission style renovations, with the publication of California Romantica, along with a coffee table book called House.
3. Jeremy Renner
But flipping is not just a lady’s game. Not to be outdone, Jeremy Renner has flipped an impressive sixteen properties. In fact, before he became a successful actor, he made a living off of it with Kristoffer Winters (who is now a full-time designer). Most recently, the pair renovated a $7 million Art Deco mansion, which they resold for $24 million.
Flipping is becoming something of a Hollywood craze it seems, with stars like Jennifer Aniston and Meryl Streep tossing their hats into the ring. It’s not all that surprising if you think about it. Most of these celebrities have demonstrated a strong sense of style, and the creative aspect of renovating a home is an obvious draw to those with artistic personalities. With a keen eye for design and architecture, the right property, knowledge of how different home improvement projects alter a house’s value, and widespread name recognition, celebrity home renovators are almost certain to find success in this profitable pastime.