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Becoming a star in the music industry can be incredibly lucrative. Once you’ve made it, however, figuring out how to maintain and grow your wealth is the next challenge.
When rapper Rick Ross first started making serious money, he followed the financial lessons his mother taught him, which influenced the direction he took fortune.
“I would say, ‘Mom, what do you think about the stock market?’ And she would say, ‘Son, I don’t really rock with the stock market. I don’t know much about it, but I know about real estate,’” he recalled to Forbes in an article published in June 2021. “When you buy something, make sure you can touch it.’”
He noted that his mother, a registered nurse who worked multiple jobs, had “always” invested in real estate. Coming from Clarksdale, Mississippi — where property prices were cheaper — she would “just keep buying houses.”
Ross took her advice to heart. In 2008, he purchased a house just two blocks from boxing legend Evander Holyfield’s massive Fayetteville estate in Georgia, according to Forbes. That was only the beginning.
In 2014, he acquired Holyfield’s former estate for $5.8 million. Five years later, he expanded his holdings, buying an adjacent 87-acre plot for $1 million.
His real estate streak continued. In 2021, Ross paid $3.5 million in cash for a custom Florida mansion formerly owned by NBA star Amar’e Stoudemire, per Forbes. And in 2023, he reportedly went on a real estate buying spree, snapping up tens of millions of dollars in property across Texas, Georgia and Florida.
‘I’ll never stop’
Today, Ross enjoys success as both an artist and business investor, but his real estate acquisitions have also played a role in adding to his wealth.
For example, Ross told Forbes he’s earned millions from entertainment studios that used his Fayetteville property as a shooting location. And during an interview in 2021 on Assets Over Liabilities, a podcast from REVOLT, Ross revealed that even though he hadn’t spent a night in the Stoudemire mansion, the investment paid off. He estimated that he could sell it for “maybe $3 million more” than what he originally paid.
Despite already amassing an impressive real estate portfolio, Ross also said he had no plans to slow down.
“Am I still looking for property investments? Of course, I’ll never stop doing that,” he said.
Ross says he learned through his mom how even modest homes can see tremendous appreciation over time.
“Where we grew up, those houses might have been $50,000 at the time. Now, those same houses are worth half a million dollars,” he said.
Investing in real estate — no platinum records required
Ross’s experience highlights a key trend in America: home prices have been steadily rising. Over the past decade, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index has surged by more than 90%.
But real estate investors don’t have to rely solely on price appreciation to see returns. High-quality properties can also provide a steady stream of rental income, making real estate a dual-benefit investment.
Ross has been able to build his property portfolio thanks to his music earnings, but you don’t need to be a rap star to start investing in real estate. Crowdfunding platforms like Arrived have made it easier for average Americans to invest in rental properties without the need for a hefty down payment or the burden of property management.
With Arrived, you can invest in shares of rental homes without worrying about mowing lawns, fixing leaky faucets or handling difficult tenants. The process is simple: browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you’d like to purchase, and then sit back as you start receiving rental income deposits from positive cashflow.
Another option is First National Realty Partners (FNRP), which targets necessity-based commercial real estate.
The platform lets accredited investors own a share of institutional-quality properties leased by national brands like Whole Foods, CVS, Kroger and Walmart. Accredited investors can enjoy the potential to collect stable, grocery store-anchored income every quarter.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
