One of the most efficient investments we can make is by buying real-estate properties. Owning a house not only fulfills our dream of having our own home, but it also serves as an investment for the future.
You can use the equity you build throughout the years to sell it for a higher price and buy an even bigger house. You can also opt to sell your house when you retire or lease it to a tenant to generate a steady passive income.
Aside from these methods, there’s a new way of earning money through real estate properties that has been making some noise recently.
Most renowned celebrities like Jim Bob and Michelle Duggar have entered the house flipping business. What exactly is house flipping and how much have these celebrities made? Let’s read and find out.
An Emerging Business
In an interview with Realtor.com, the 19 Kids and Counting Stars Michelle Duggar and Jim Bob bought a real-estate property known as the Baylor Mansion for $230,000 in 2014. They transformed the said property into a four-bedroom and nine bathroom abode and sold it on the market for an astounding $1.8 million!
It isn’t the first time Duggar and Bob have flipped a house, though. According to sources, Duggar and Bob have been buying, renovating, and selling homes for years.
The couple explained that they entered the business because of Bob’s mom, who was a retired real estate agent. The couple inherited the family’s projects and activity that enabled them to earn decent money before they debuted in showbiz.
The Inspiration
The couple also revealed their own home was a product of their flipping, contrary to people’s assumption that they bought it brand new. Duggar and Bob admitted they love flipping houses. Since they cannot enter the construction business, it’s the closest possible thing to fulfilling their dreams.
Furthermore, the couple is constantly looking for opportunities not only to make money but also to improve a property. The couple says it brings them immense joy whenever they see an abandoned or unused house transformed into a stunning abode that attracts potential buyers.
The History
According to Realtor, the house was built around 1969, and Frank Lloyd Wright‘s signature roundhouse inspired its iconic design.
The first floor features a round concrete wall that can withstand a nuclear attack. The couple also retained some of its original features like its tiled floors, walnut doors and ceilings, Duggar and Bob expanded the property to make it more spacious. They also added additional bathrooms to the mansion to make it even more lavish and expansive.
It also features modern elements like a spacious kitchen, sleek white cabinets, and stone accent walls. The occupants can also enjoy a luxurious amenity as their master’s bedroom has a soaking tub as well as a separate walk-in shower. It also has a stunning elevator and storage room for weapons.
