Last night Jeremy Renner appeared on the Late Show with David Letterman and shed some light on his side business: When he’s not starring in hit movies like The Bourne Legacy, The Avengers and The Hurt Locker, you can find Jeremy flipping houses. What first began as an attempt to stop paying rent has turned into a serious business.
Jeremy and a friend had come across some money a few years back and decided to combine forces. By purchasing a house instead of renting, they’d be able to grow their money as opposed to throwing it away (smart move). Surprisingly, after renovating the home, a buyer came along and offered twice what they paid for it. Shortly thereafter the property was sold for a hefty profit, and twenty houses later they’re still going strong.
Jeremy Renner and his business partner typically look for historic, architectural homes in Los Angeles, CA. “I love architecture and to me it has always been something that’s a tangible art form,” Renner stated. He went on to add that “we feel like we don’t build homes or remodel homes or flip houses or anything, we provide lifestyles for people.”
When asked about how long each project takes, Renner said anywhere from three months to a year and a half. What’s most interesting is that he actually lives in the properties while they’re being renovated, which sounds like a nightmare. However, since he focuses on homes ranging from $500,000 to over $5 million, it may not be too bad after all. His partner recently completed a $25 million flip in Holmby Hills.
Check out the Late Show website to watch this episode.
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