After his music profession pale, the 56-year-old rapper, born Robert Matthew Van Winkle, discovered a brand new calling: actual property funding. The 90s sensation affords 5 tricks to succeed as as an investor.
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Vanilla Ice is understood to the world as a preeminent one-hit surprise, who remained a cultural determine lengthy after his track — “Ice Ice Baby” — and the controversy it generated, pale from the dominant cultural milieu.
After his music profession pale, the 56-year-old rapper, born Robert Matthew Van Winkle, discovered a brand new calling: actual property funding.
Van Winkle just lately detailed how he constructed up a mini actual property empire and managed to raise his web price to $20 million many years after his single was charting in an look on the “Wild Ride” podcast of Jackass star Steve-O.
“I made millions for doing nothing!” Van Winkle advised Steve-O throughout the look.
For these seeking to comply with the same path the Iceman took, we’ve parsed just a few key factors from the interview to put out Vanilla Ice’s funding technique and philosophy.
1. Document a chart-topping track
You’ll want to start out with some liquidity if you wish to be a severe actual property investor, and a Billboard-topping licensed gold single is an effective way to get some pocket change and begin scooping up homes. “Ice Ice Baby” bought an estimated 160 million-plus copies worldwide following its 1990 launch — greater than sufficient to purchase just a few homes.
“We were selling a million copies a day, easy,” Van Winkle advised Steve-O.
2. Purchase properties in a various vary of markets
To listen to Van Winkle inform it, he started his funding journey by shopping for up extra homes than he may use “all over the country.” When he started to promote his properties off, he was stunned by how profitable the gross sales had been, he stated on the podcast.
“They sold really quick and I made millions for doing nothing,” he stated. “I didn’t even change the carpet.”
3. Develop a sport plan and a specialty
As soon as Van Winkle caught the investing bug, he began growing the variety of houses he bought and put extra effort into renovating them. He additionally started to develop a sport plan for the kind of houses he bought, and the way he bought them, telling Steve-O he prefers to purchase properties off-market as a substitute of from A number of Itemizing Companies and to purchase distressed properties and tax liens, which he says offers him the prospect to purchase properties for “pennies on the dollar.”
4. Flex your building and design muscle tissues
One of the best buyers are those who roll as much as their properties in their very own vans with their very own instruments, and Vanilla Ice isn’t any exception. Van Winkle advised Steve-O his fascination in actual property was sparked when one in every of his houses was destroyed by Hurricane Andrew in 1992, and he determined to renovate it himself and promote it.
Van Winkle says he ended up going to design faculty and dealing as a basic contractor for a number of years — abilities which have undoubtedly given him a leg up in his profession as an actual property investor.
“It’s fun swinging a hammer, man, and being one of the guys. Your workers look at you like you’re one of them,” Van Winkle advised The New York Occasions in 2010
5. Construct your model by content material
Even when he has shifted most of his efforts into actual property funding, Van Winkle continues to be an entertainer at coronary heart. Cashing in on the recognition of actual property and renovation tv reveals, he turned his funding journey right into a actuality tv present — The Vanilla Ice Venture — on the DIY Community and it has run for 9 seasons.
The present follows Van Winkle as he oversees his groups of contractors. The present has been so profitable, that Van Winkle has launched a coaching course that goals to assist others achieve investing.
