By now we know that real estate is a key way to build great wealth.
What may surprising is how heavily celebrities are leaning into the industry to amass even more money on top of what they’ve earned in entertaining the masses.
More and more, we’re see more public figures leaning towards house flipping rather than ownership, because it’s not only profitable, it’s enjoyable. Celebs like Queen Latifah and Shaq have spoken publicly about how much joy they’ve gotten in developing a property and watching it grow in their portfolio. And this isn’t reserved just for the super rich.
The average real estate investor salary hovers between $70,000 and $124,000, according to Motley Fool.
So, if you’re thinking about diving into real estate investment, here are a few celebs that have made some smart deals that you can draw inspiration from.
01Lisa Leslieof her own athlete-focused brokerage called Aston Rose. Aston Rose, which made its debut in the California and Florida markets in March 2022, was co-founded by Tomi Rose, a former professional cheerleader with decades of real estate experience. To date, the Aston Rose team reports they’ve closed more than $500 million in real estate deals.
02Magic JohnsonUnsurprisingly, Magic Johnson is on this list for his business prowess. After retiring from a 20-year NBA career and launching Magic Johnson Enterprises, he focused his efforts on investing in property development deals that paid off in a major way. From Starbucks locations, movie theaters, and large residential complexes, the company is valued at around $1B. 
03Shaquille O’NealShaquille O’Neal is a mogul in every way, but real estate has substantially contributed to his multimillion-dollar fortune. In 2006, he launched The O’Neal Group, a Miami-based real estate company that developed a $1 billion mixed-use development project in partnership with MDM Development. 
04Queen LatifahEssence reported in May 2022 that the entertainer and mogul secured a new deal to create new housing in Newark, NJ through her real estate development firm, Blue Sugar Corporation.“To me, Newark is ours. Newark is yours. And I don’t want people to think that they can’t live in their own communities,” she said in an interview with News 12.Backed by Latifah since 2019, Blue Sugar Corporation since 2019, the company teamed upwith New Jersey developer GonSosa Development to spearhead an affordable housing project, which tops out at$14 million.“The project includes 20 three-family townhomes and a three-story mixed-use building with an additional 16 units,” NJ.com reported at the time. “Plans for the building include a fitness center and 1,900 square feet of commercial space that will be rented to nonprofits. The 60 units in the townhouses will be market-rate; the 16 units in the building will be affordable.” 
05Mo VaughnMaurice “Mo” Vaughn built a career as an MLB MVP and has reinvented himself as a real estate king as of late. He is the managing director and co-founder of Omni New York, LLC, and revitalizes affordable residential housing complexes in the NYC area. 
06David RobinsonThe famed NBA All-Star David Robinson became an investor following his basketball career. He launched a private equity investment firm, Admiral Capital Group that has amassed an impressive real estate portfolio containing scores of major commercial and residential properties. 
07Tyra BanksAfter being told by her accountant to “Spend more money,” the model and mogul invested in four properties in the Pacific Palisades neighborhood of Los Angeles. She also reportedly purchased a shoreline property worth approximately US$7 million that is sure to give the icon a great return if she decided to sell. 
The post Property Power Players: A Look At Some of The Smartest Celebrity Real Estate Moves appeared first on Essence.
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