MMG mogul Rick Ross recently sat down with Forbes, discussing his impressive real estate and WingStop investments.
Renowned as one of hip-hop’s most successful businessmen, the Grammy-nominated “Diced Pineapples” rapper says that he learned the real estate game from his mother, Tommie Roberts, who he saw investing in real estate while employed as a nurse.
“She would just keep buying houses. And I would say, ‘Mom, what do you think about the stock market?’ And she would say, ‘Son, I don’t really rock with the stock market. I don’t know much about it, but I know about real estate. So when you buy something, make sure you can touch it.'”
When he purchased his first Georgia home in 2008, he took this advice two blocks from boxing champion Evander Holyfield’s famed 54,000-square-foot Fayetteville home. Rozay says he rode past the house every day until it went on the market. After purchasing it in 2014 for $5.8 million, he made several renovations and purchased 87 acres adjacent to the central estate in 2019. Now, the 45-year-old is outsourcing his stunning property for major film productions, including Eddie Murphy’s 2021 sequel, “Coming 2 America.”
He recently added a new Florida home to his portfolio once owned by NBA star Amar’e Stoudemire. Ross also purchased additional land near the Fayetteville property, which he calls the “Promised Land.” With his many properties and land purchases, Ross says that his advice for aspiring investors is to always “invest in yourself.”
“Whether that is time or energy, invest in yourself. When I’m sitting with young artists, I always tell them to spend their energy wisely. Your energy is more valuable than your money.”
As far as owning 17 WingStop restaurants, Ross credits the companies CEO Charlie Morrison with taking a chance on him by allowing a rapper with no franchise experience to purchase his first WingStop.