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He spent years in the music industry but the singer known as rapper Vanilla Ice told CNBC Friday he's found the real estate market nice, nice, baby.
Rob Van Winkle told " Street Signs " buying dilapidated houses, refurbishing them and then selling them — usually at a big profit — has been just as profitable for him as when he was singing "Ice, Ice, Baby" on the radio.
“They’re both pretty good, to be honest with you," he said. "The great thing is I found another passion that does make money.”
He has spent the past 15 years flipping houses in Florida, and since 2010 he’s been plying his craft on reality TV with “The Vanilla Ice Project.”
“The short sales, the foreclosures are great, but tax auctions are even better,” he said. “I just bought the Season Three house on a tax auction. If no one's bidding against you and it’s an absolute auction, you can steal the homes for pennies on the dollar.”
As usual with real estate, the most important thing is location. Van Winkle has focused his flipping on homes in the Palm Beach area because he knows the area so well.
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