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Chip Gaines Net Worth, Biography & Wiki 2017
Chip Carter Gaines was born on 14 November 1974, in North Texas, USA. He is an entrepreneur and reality television personality probably best known for being part of the HGTV reality television show “Fixer Upper”. Chip’s success in investments as well as his success on the television show, have boosted his net worth to where it is today.
How rich is Chip Gaines? Sources tell that his net worth is over $1.5 million, most of which can be traced back to the success of the show “Fixer Upper”. The couple, Chip and Joanna have been doing their ‘flipping’ job and more for over ten years now, long before they ever entered the television spotlight. Chip also has a few other businesses and investments that make up his current wealth.
Chip Gaines Net Worth $1.5 Million
As a young boy, Chip wasn’t very fond of academics. He grew up on his grandfather’s ranch in North Texas and preferred doing work on the ranch rather than learning at school. He later made a decision to learn about the business world, and graduated from Baylor University’s Hanmaker School of Business earning a marketing degree. Chip tried his hand with a number of ideas and businesses including Green and Gold Wash and Fold which is a college student laundry service. He even had a hand at starting a landscaping company.
He met his wife Joanna after graduating, and the two ended up dating before marrying within a year, shortly after which, complementing each other, they decided to try their hand at house flipping. Essentially what they did was purchase houses that were at a lower price, improve and renovate them before selling them for a profit. At this time, Joanna also opened a home accessory store called Magnolia. House flipping was a risky business, but thanks to Chip’s knowledge of real estate and Joanna’s eye for design, they were able to successfully buy, improve and sell houses. Magnolia expanded and the two would slowly increase their net worth. Over time, Magnolia had started to include real estate, construction, and design. They even put up a residential subdivision called Magnolia Villas.
They established themselves in Waco, Texas and were soon picked up by HGTV for a reality television show. They found success on television as well, popularizing the act of house flipping, apparently with many inspired to emulate their acts. The show went on to do a second season in 2015, which indicates considerable viewer interest. The couple typically goes through the entire process with their clients and spends around $30,000 on renovations alone. The show has made them very busy and according to reports, the couple rarely takes renovation work outside of the show because of time constraints.
Aside from what’s shown in television, the couple likes to keep their life private; they also have four children in the family. They live in a farmhouse that’s said to be 100 years old and stands on 40 acres of land.