Celebrity Real Estate
Ellen DeGeneres and Portia de Rossi pocket $4.4 million flipping this $24 million California oceanside estate
Ellen DeGeneres and Portia de Rossi have been very fortunate in their real estate ventures as of late, this time successfully flipping an oceanfront Carpinteria home in a cash deal for very close to the asking price.
The house sold within days for exactly $23 million — assuring a $4.4 million profit on the $18.9 million the de Rossi-DeGeneres pair paid for the property less in October 2017.
The all-cash buyer is makeup tycoon Jamie Kern Lima. Kern Lima is a Columbia MBA and former reality TV contestant who was featured on the first season of “Big Brother” before founding IT Cosmetics in 2008. The beauty brand quickly found success on QVC television before selling to L’Oreal for a whopping $1.2 billion in 2017.