Ricky Martin’s Successful Flips
Don’t be fooled by Ricky’s artistic skills, behind his hip-hugging jeans, see-through flannel shirts and impeccable twisting abilities, the Puerto-Rican singer has a keen flair for high-end property flipping. In 2001 he bought a 7,083 square foot house for $6.4 million. The property situated at 5030 N. Bay Rd in Miami Beach was then sold for $10.6 million in 2005, meaning that Martin engrossed a cool $4.2 million in 4 years. Even more interesting is that while he was selling the aforementioned house in 2005, he also bought a Mediterranean-style mansion, on that same street at 5130 N. Bay Rd, for $10 million. Today, two years later, the 9,941 square-foot home that boasts 7 bedrooms, 8 bathrooms and 2 half baths, with wired media room, Jacuzzi, bar, elevator, etc… is on the market for $16.9 million. Talk about a nice profit margin! With such successful flips, it seems Ricky can entertain us in both the music and real estate arenas… Via The Real Estalker
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