Handler says real estate is a fantastic financial investment.
It just hasn’t been for her. Picture: Kevin Mazur/Getty Images Comedian Chelsea Handler has stated that buying real estate is an excellent method to stash your cost savings: “Invest in property. I do not have tons of investments, however I have a great deal of realty because that’s always going to mature which’s constantly going to have value in the ideal places,” she informed MarketWatch this previous summer. But her own real-estate financial investments haven’t always worked out. On a current episode of her podcast, Handler said that the Brentwood, Los Angeles, home she bought from Cheryl Hines and Robert F. Kennedy Jr. for $5.9 million in 2021 was a “catastrophe” with so many problems that she still hasn’t had the ability to move in.
Handler, who bought the Mandeville Canyon home by means of a trust named after her older sis Simone, claims that she didn’t know who the sellers were till after the offer closed because they also used a trust. However after the sale, she states that Hines, who moved into another residential or commercial property down the street with RFK Jr., left her a note that checked out, “Let us know if there’s anything we can do for you, Chelsea.” That gesture rankled when Handler found the extent of the concerns at the house. For one– and possibly most alarmingly– the home, built in 1937, didn’t have an appropriate foundation, according to Handler. She also stated that the residential or commercial property had a storage system that she found out was prohibited, and so would require to be taken down, only after the purchase. It’s uncertain why the prepurchase home evaluation she had done would not have actually caught such apparent red flags– particularly an unpermitted structure on the residential or commercial property. However Handler declares that an inspector she hired after the sale told her it had the most “poisonous environment,” which there were many issues with it that she still hasn’t moved into the home years later. It seems a charming area in the listing pictures, though: They reveal a five-bedroom home with an elegant-looking renovation, a large yard, and a swimming pool.
Cheryl Hines and RFK Jr. offered the home to Handler in 2021. Both utilized trusts. Picture: Shannon Finney/Getty Images
Buying a foundationless house is not the only real-estate error Handler has actually made. She converted her previous home, a five-bedroom in Bel Air, into a two-bedroom to discourage her family from going to for too long. It definitely made “your house less important,” Handler admitted. After refurbishing the house to have less bedrooms, she then needed to change it back to sell: “I had to turn the 2 bed rooms back into 5 bedrooms.”
The Brentwood home, as seen in noting images, wouldn’t appear to need years’ worth of work. Image: The MLS
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