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Russell Simmons House
Apparently, he isn’t just a genius when it comes to hip hop and fashion; Russell Simmons knows what he’s doing in the world of real estate too. He owns a sprawling 35,000 square foot mansion in Saddle River, New Jersey – one of the largest homes on the eastern coast, a $5.3 million, 5,800 square foot mansion in Los Angeles, and a Manhattan penthouse. But, for now, it seems like this music mogul has had enough. Russell Simmons’ house in New Jersey is now up for sale.

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Lesson #1: Find Your Niche Market
“You go to the people who are the smartest and most sophisticated and deliver on day one,” says Simmons. “Do a good job of it, and it’ll grow on its own.”

Lesson #3: Give Back
“I don’t want to be a Russell Simmons, greedy-ass entrepreneur,” he exclaims. “I would like to be a Russell Simmons, philanthropist/activist.”

Lesson #4: Bend the Rules
“Rules are sometimes a problem when you’re a creative entrepreneur,” says Simmons.

Russell Simmons Quotes
Russell Simmons Quotes

Russell Simmons Divorce
In 2006, it made headlines in the worlds of fashion and hip hop as two of the people at the forefront of both were splitting up. They were big celebrities, used to living a big life, and now, Russell Simmons’ divorce from model Kimora Lee was big news. After eight years of marriage and two daughters later, the hip hop moguls were ending things. “Kimora and I will remain committed parents and caring friends with great love and admiration for each other,” Simmons said at the time of the announcement. “We will also continue to work side by side on a daily basis as partners in all of our business.”

Russell Simmons House
Apparently, he isn’t just a genius when it comes to hip hop and fashion; Russell Simmons knows what he’s doing in the world of real estate too. He owns a sprawling 35,000 square foot mansion in Saddle River, New Jersey – one of the largest homes on the eastern coast, a $5.3 million, 5,800 square foot mansion in Los Angeles, and a Manhattan penthouse. But, for now, it seems like this music mogul has had enough. Russell Simmons’ house in New Jersey is now up for sale.

Rick Rubin and Russell Simmons
One was a college dropout who began promoting local rap acts in the ghettos of New York; the other was an NYU student who spent more time playing in punk bands than he did in class. One knew nothing but hip hop; the other nothing but rock. Nevertheless, after a chance encounter at a New York club, Rick Rubin and Russell Simmons became fast friends. Together, they would go on to found the most influential hip hop label in the world, and change the face of American music forever.

Russell Simmons and Kimora Lee
They are two of the largest names in the hip hop and fashion industries, but behind closed doors Russell Simmons and Kimora Lee have also become celebrities for their rocky relationship with one another. The two entrepreneurs met when Lee was just 17 years old. She was in her last year of high school and pursuing a modeling career, while the 35 year old Simmons was making his way in the hip hop industry. At six-feet tall, Simmons was immediately captured by Lee when he first saw her on a runway during New York City’s Fashion Week.

LTV: The Key to the Underwater Mortgage
If you're wondering whether or not you're in an underwater mortgage, the key is to understand your loan to value, or LTV, ratio. The LTV reflects how much you owe as a percentage of the total value of your house. So, for example, if you originally took out a $130,000 mortgage on a house that was appraised at $150,000, your LTV ratio would be 87%. In other words, you would then owe 87% of what the house was actually worth-a win for you once the mortgage was paid off, provided that the property value didn't change. Which, of course, never happens, does it?

Your Online Copy Must Deliver Proof of "Cred"
In the year 2000, there was a movie starring Russell Crowe and Meg Ryan called Proof of Life in which Ryan's husband was kidnapped by guerilla rebels and held for ransom. Before she could pay, Russell Crowe stepped in as the hostage negotiator and said she wouldn't pay without some sign the husband was still alive. He demanded "Proof of Life" from the kidnappers. The selling equivalent of this is proof of credibility. Before a sales prospect will consider doing business with you, he will want to see clear signs that you are the real deal.

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