Some things just aren’t mean to be.
Tinder co-founder Sean Rad is looking to flip a Montecito horse ranch he picked up a year ago from Ellen DeGeneres, according to the Los Angeles Times.
Rad has listed the scenic six-acre compound for $12.7 million, or $1.3 million more than he paid for it last June.
He appears to be taking a note from DeGeneres and her wife, Portia de Rossi, who are accomplished house flippers.
They made a $4 million profit when the couple sold to Rad just eight months after they bought the property. The total added to the $150 million in real estate deals DeGeneres and de Rossi closed over the last two years.
Rad’s been wheeling and dealing himself.
Last year, he listed a home in the Hollywood Hills and then bought another in the neighborhood for $26.5 million.
House flipping remains popular across the U.S., making up as big a share of home sales as it did in 2006, just before the subprime mortgage crisis.
The main single-story home at Rad’s Rancho San Leandro home spans 6,700 square feet. There’s also a two-story guest house and horse facilities, including stalls and a riding arena. Rad is remodeling the property, according to the Times. Compass’ Susan Perkins has the listing.
Rad is currently duking it out in court with the owners of his former company.
Rad left Tinder in 2017 and together with co-founders and a group of Tinder executives sued Tinder’s parent companies for $2 billion, alleging IAC and Match Group swindled them on stock options. IAC and Match Group countersued Rad for $250 million. [LAT] — Dennis Lynch