This is a VERY interesting article in Forbes about celetri-tees renting out their UNsold homes. I suspect that many are not late to this endeavor.
Mega-celeb in the 40s, 50s and 60s, Loretta Young, bought homes in the Venice Beach area with her mother and reinvested the income from her movies and later TV shows in more rental properties.
Early TV Cat Woman, Julie Newmar, began investing in LA real estate in the 80s and is credited with improving areas around La Brea and Fairfax Ave near the Grove.
Oprah's Streeterville CoOp
Paula Dean's Tybee Island, GA home
....so while many might be surprised that THE Oprah is renting out her Chicago co-op * she has never lived in it * for $15,000 per month, and that "butter loving" Southern chef, Paula Dean, is renting out her Tybee, Island, GA townhouse by the night, it should be noted that his is NOT a NEW phenomenon.
UBER Diva, Cher, has been buying and remodeling and selling homes for decades and Cougar, Courtney Cox, started buying and remodeling then selling her homes during her FRIENDS days.
http://www.forbes.com/sites/morganbrennan/2011/12/12/when-a-celebrity-is-your-landlord/
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