Key takeaways
- “Shark Tank” star Robert Herjavec has made nearly 100 deals in his career.
- But at the 10X Growth conference earlier this year, he told Grant Cardone that there was one place he would put his “last million.”
- Here’s why real estate is where he would “build a foundation.”
“Shark Tank” star Robert Herjavec has made 81 investments, according to CB Insights. But there is one investment Herjavec says he would make if he only had a few (million) dollars left.
Earlier this year, Herjavec spoke with Grant Cardone at the 10X Growth conference and was asked what he would do if he was “down to his last million dollars” and could only invest it in one thing.
“I would invest in real estate,” Herjavec said almost immediately.
Related: 8 Powerful Lessons From Robert Herjavec at Entrepreneur Level Up That Every Founder Needs to Hear
Cardone then asked why he would choose real estate.
“Because desperate people do stupid shit,” Herjavec said. “We need to take despair out of the equation.” (It should be noted, however, that having a million dollars probably won’t seem like a hopeless situation to the general public.)
Herjavec’s net worth is estimated to be between $300 million and $600 million.
“If I’m down to my last million, you know what I have to do? I have to build a foundation,” Herjavec said. “So I would take that money, invest in real estate, get a source of income and forget it existed – and then I would go out and do other crazy stuff.”
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According to JM Financial, real estate investments can appreciate on average 6 to 9% per year, depending on location, even without rental income.
Although Herjavec has had his share of success, losing money isn’t something that only happens to ordinary people. On LinkedIn, the tech entrepreneur recently shared the story of his worst investment: a breathalyzer company that all the Sharks invested in — and which ended up being investigated by the FDA.
When some of the Sharks went to visit the founder after filming, the company had no traction, but the founder owned a brand new luxury car, he said.
But such failures only keep him alive, he says.
“I believe in myself,” Herjavec told Cardone. “I believe that if I had nothing, I would become rich again.”
Related: Forget Perfection – Marcus Lemonis Taught Me Why Being Real Wins in Business
Key takeaways
- “Shark Tank” star Robert Herjavec has made nearly 100 deals during his career.
- But at the 10X Growth conference earlier this year, he told Grant Cardone that there was one place he would put his “last million.”
- Here’s why real estate is where he would “build a foundation.”
“Shark Tank” star Robert Herjavec has made 81 investments, according to CB Insights. But there is one investment Herjavec says he would make if he only had a few (million) dollars left.
Earlier this year, Herjavec spoke with Grant Cardone at the 10X Growth conference and was asked what he would do if he was “down to his last million dollars” and could only invest it in one thing.
“I would invest in real estate,” Herjavec said almost immediately.
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