Today the paper of record has an interview with Vanilla Ice, which is awesome, about his new reality show in which he buys and renovates houses, which is also awesome. How did the ’90s novelty rapper get hooked on real estate? Greenwich Village property is one hell of a drug:
Basically, when I had a lot of money when I was younger, I said — like most rock stars who are young and dumb — let me go buy a bunch of houses. So I bought houses in L.A., in Laurel Canyon right next door to Michael J. Fox; on Star Island, next door to Don Johnson and Melanie Griffith; in Utah; and on Bleecker Street in New York City.
Three years went by. I never used any of them, and I thought it was the worst investment of my life. So I said, “Let’s sell everything, and I’ll have one primary house here in Miami.”
When I sold them, I made, on each one of them, $300,000 to $400,000. I stopped in my tracks and said, “It can’t be that easy.” But it was.
So the next time you fail to net $300k on that resale of yours, remember, Vanilla Ice thinks you’re stupid.