One of the great talents of many of Hollywood’s legendary performers is the ability to step outside one’s self and completely transform appearance, mannerisms and personality at the drop of a hat. It turns out that many of these performers are also adept at these skills when it pertains to real estate. With money and influence to spare, house-flipping is a hobby that has been adopted by celebrities like Diane Keaton and Ellen Degeneres, and is turning some into experts on this enterprise.
Actors, musicians and sports figures have the advantage of being able to take on projects for shorter periods of time that can make them tremendous amounts of money. When the time comes for their main career to take a backseat to factors such as family life, many find themselves investing in real estate, whether that means buying a home or making renovations to a current home. The advantage of such lucrative careers is that startup capital is often readily available to celebrities as is the wealth of knowledge and experience from traveling the world.
“People who are creative- they like to take something and make it what other people didn’t see,” Kurt Rappaport, a realtor who has represented Ms. DeGeneres as well as other celebrities, said to the Wall Street Journal.
Southern California is an Ideal Playground for Celebrity Investors
In Southern California, wealth and influence that comes with the celebrity status goes a long way in making deals for not just for homes, but also for large-scale urban developments.
Retired basketball star Earvin “Magic” Johnson has been working on developments in urban markets for years. His status as a sports legend and extraordinary wealth has helped to get many projects in Los Angeles underway, the most recent of which is One Santa Fe. This project, which is a $160 million mixed-use project that will house 438 apartments and 78,620 square feet of office and retail space, might not have gotten started without his star power.
“Everyone will take Earvin’s call,” said Jonathan Roth, president of Canyon Capital Realty Advisors and Johnson’s business partner.
David Charvet was an actor on TV’s “Baywatch” who traded his signature red swim trunks for blueprints. After years spent acting on daytime shows as well as recording albums in his native country of France, Charvet is now a developer of high-end homes in Malibu after getting his start in 2007 when he oversaw the construction of a 7,000-square-foot home for his family.
Charvet, who is married to TV personality Brooke Burke-Charvet, joined forces with the contractor who built his home, Nathan Jones of Jones Builders group. Today they are working on luxury properties throughout Malibu including one property that will feature a 14,000-square-foot home replete with eight bedrooms, 10 bathrooms, home theater, dance studio, tennis court, basketball court and a recording studio.
With varying talents and spheres of influence, its no surprise that celebrities have taken such active roles in real estate investing. If you are looking to invest in your own luxury home in Malibu, please don’t hesitate to contact our team of luxury property experts to help you in your search.
Check out these Malibu homes priced from $3 million to $3.5 million
$2,199,000 : 21619 PACIFIC COAST Highway, Malibu4 beds, 3 baths
$2,495,000 : 3806 LAS FLORES CANYON Road, Malibu4 beds, 4 baths
$2,590,000 : 30081 HARVESTER Road, Malibu4 beds, 4 baths
$2,395,000 : 18420 WAKECREST Drive, Malibu3 beds, 2 baths
$2,495,000 : 3530 SHOREHEIGHTS Drive, Malibu4 beds, 3 baths
See all City of Malibu Luxury Homes For Sale.
(all data current as of 10/22/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.