Neverland Ranch: Listed for $100M. Sold for $22M.

If you’re a landlord, check out TurboTenant. They let you list your rental for free and manage everything from applications to rent collection in one place. Get started using my link: https://bit.ly/turbotenantxRER7 Editor for This Episode:   / rarefilms.co   Follow me on Instagram: -  / real.estate.report   In This Episode: In 1988, Michael Jackson paid $19.5 million for a 2,700 acre cattle ranch in the hills above Santa Barbara and spent the next decade turning it into something the world had never seen before. A private amusement park with a Ferris wheel, a roller coaster, bumper cars, and a carousel. A zoo with giraffes and chimpanzees. Three private railroads including a steam locomotive he named Katherine after his mother. A 50-seat movie theater. A Disney-style train station. He called it Neverland. By 2005 the rides were dismantled. The animals were relocated. The property fell into foreclosure in 2007, was bailed out by an investment firm for $22.5 million, and eventually hit the market in 2014 with an asking price of $100 million. It sat. The price dropped to $67 million. Then $31 million. It finally sold in December 2020 for $22 million, barely more than what Jackson paid for it 32 years earlier. Today we are getting into the full story of Neverland Ranch. -Scott Disclaimer: This channel, and any communication shared during these videos, should not be taken as financial or legal advice. Viewers should retain their own legal counsel or financial expert(s) before making their own decisions. If you need legal advice, please contact an attorney directly. If you need financial advice, please contact a Certified Public Accountant or a Certified Financial Planner or other licensed professional. I (Scott) am not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, or financial advice. Opinions shared in these videos are my personal opinion and are for entertainment purposes only. No comments should be construed as fact. Always do your own due dilligence. And one more thing.. Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel.