But really can we blame them? If people that are already rich seem to think that flipping houses is an easy return then maybe more of you out there should too. The truth is, Hollywood folks are finding flipping irresistible. They can’t quit the flip so to speak.

The high interest with flipping comes on the heels of recovering markets especially in California and Florida. We have seen a spike in the high end market for real estate investing with high-end homes worth $2 to $5 million. Stars go even higher into their high end market. In fact Gisele and Tom are posed to make a cool $27k on their Los Angeles estate. Not too bad for a model and a NFL star.

While some Hollywood actors take on house flipping as a hobby, maybe renovating while they still live there, other are hot in the market. And more so, they will just “flip on the side.” Last year we told you about Steve Martin’s own “wild and crazy” real estate deal when he made almost 3 million on his own flip.

Actors Jeremy Renner and Kristoffer Winters, who both appeared in the film ‘The Hurt Locker,’ have done about two dozen house flips in the Los Angeles are and got into house flipping during idle times, according to the Realtor Mag website.

A recent article in Realtor Mag listed Diane Keaton, Corbin Bernsen, Amanda Pays, Jane Seymour, Steve Martin and other actors as 

having done done quite well in the house flipping market, although many of them hire someone to do the renovation. Because they in fact ARE too busy driving their expensive cars and walking their designer pooches. Seems those celebrities have aced the leverage factor in house flipping.

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Once again investing in real estate is ranking among the top picks for millionaire investors.

A few weeks ago. Morgan Stanley released results of an in depth survey asking numerous investing questions to over 1,004 U.S. investors. The investors age 25 to 75, with $100,000 or more in investable household financial assets overwhelmingly stated investing in real estate as their top pick for an alternate to playing the stock market. A third of those interviewed had $1 million or more in household financial assets.

This isn’t the first time we have mentioned that the rich are getting richer by flipping houses. A few weeks ago we wrote about what the rich were investing in and what their reasons are in our Real Estate Investing: In the News blog. In it, we cited an article that since the economic crisis of 2008, real estate investing has  attracted many of the super rick seeking out a safe haven. Not to mention a great way to diversify your assets.
The clear indication of all this that investors all over the world are turning to real estate. Every day there are more stories about how the Chinese are buying up Detroit or how foreign investors are buying up our distressed real estate and boosting our economic development. Here are some recent news story links that show what we are talking about:

http://www.theguardian.com/commentisfree/2014/jan/24/chinese-investment-growing-us-good

http://blogs.wsj.com/moneybeat/2014/02/27/china-demand-for-u-s-property-to-boost-investment/

A recent survey released by a NYC investment bank shows that 77% of millionaires already directly own real estate and 33% plan to directly invest more during 2014. The fact that these knowledgeable investors are moving out of stocks will continue to place pressure on the more traditional investing in stocks and bonds.

And if our advice and the surveys cited above still don’t convince you, maybe you will listen to the most successful investor we know of. Warren Buffett. In his annual letter to  Berkshire-Hathaway shareholders, the legendary investor offers his wisdom on anything from his rules for investing in stocks to the US and global economies. This year he offers what he learned through 2 investment properties. One purchase, a 400 hectare farm in Nebraska, which cost him $280,000 in 1986. The other purchase, which he made with a small group of investors a few years later, was a retail property in New York. The one similarity these two tales have is that he purchased both assets after property collapses. He goes on to list 5 tips on real estate investing from his perspective.

Click here to read the full article from the March 17th issue of Fortune Magazine

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