Rapper Kanye West Expands Real Estate Holdings in Unlikely Places
Usually property barons ride a business boom. But it could quickly go bust? A recession may dent real estate confidence, but few expected an economic downturn to completely derail the real estate market. Over-confidence could lead to over-construction, with natural barriers to entry in the form of sky high land prices.
The rising interest rates dent returns, and the cyclical market will falter. Unlike the age-old red-brick warehouses, Amazon’s big-boxed eyesores turning into trendy lofts when the cycle does turn, is just hard to visualise. Their sales and profit grow square foot by square foot. They battle locally, not in drastic “winner takes all” markets. Few people ever get into Stanford University boasting about how their life’s ambition is to build real estate.
Unlikely business ventures
Rapper Kanye West is renowned for his music ventures and his new-ish clothing business. But the rapper, who is now 42 years old, is set to now try his hand at real estate development. West has purchased his second real estate property in the sparsely populated side of Wyoming, just months later after making his first purchase there. This ranch sports 2 heated helicopter pads, which is required since it is only a 10-minute helicopter ride away from Greybull, the nearest town. After purchasing a different ranch nearby, the controversial musician spent $14.495 million on a second ranch after two months. The Bighorn Mountain Ranch spread over an expansive 6,713 acres is operational since the early 20th century and encompasses multiple natural formations like mountains, bluffs, creeks, and canyons with the Lodge situated at Bald Ridge, a 5 bedroom log house. The structure is one of the various log cabins on the property, such as The Snowshoe Lodge, that has a basement wet bar and walk-in saunas!
A Naturalist Delight
The ranch has a pond on the ranch, plenty of wildlife and over 2000 elk while White Creek, and is a fabulous location for fishing small trout. The ranch is located just outside a town called Cody founded by Buffalo Bill Cody. West’s other ranch in Wyoming is the Monster Lake Ranch, that cost him $14 million. The property admeasures 9,000 acres and features resort-like accommodations, horse barns, a shooting range, and even an office building. The property also boasts of beautiful scenery, two freshwater lakes and many acres of grassy plains. It’s not clear whether the rapper purchased all six separate parcels of land listed or only a part of the entire property. While West’s plans for his new ranches are not specified, wife Kim Kardashian has spoken about her husband’s vision for the ranches.
According to businesswoman Kim, West wants to develop the property and move to Wyoming. The musician had expressed a desire to create an entire community in Wyoming. He has also stated that he desires to be one of the largest real estate developers and become the Henry Ford of real estate. It must be recalled that West had also wanted to build houses for the homeless. The primary prototypes of this project looked like those in Tatooine, a made-up planet from the Star Wars movies and these were erected on his sprawling Calabasas Hills, California property, where his mansion is also located.
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