Barbara Corcoran, best known for her role as one of the original sharks on ABC's "Shark Tank," has invested in several companies over 14 seasons on the show. She has the money to do so thanks to her success in real estate, and she believes you should be following in her footsteps as soon as possible.
What To Know: According to a CNBC report, Corcoran has been involved in real estate for more than 50 years, and she's learned that the best thing a young person can do with their money is to find some property to buy.
"I believe the best thing you could do is buy something as fast as you can ... You've got to get in the game of real estate," she said during an interview on the "Chicks in the Office" podcast.
The average first-time home buyer is 34 years of age, but young people can get ahead by buying something "right now," she said, adding you shouldn't wait and try to time the market.
"Forget about the timing. The timing of what you earn on that home has more to do with when you have to move than when you buy in. You’re not in charge of that, your life is," Corcoran said.
The "Shark Tank" star started her real estate business, "The Corcoran Group" in 1973 with about $1,000, according to Forbes. She was able to slowly build the company up and eventually sold it for $66 million.
Corcoran has been a part of "Shark Tank" since the first episode aired in 2009. She has reportedly invested in more than 80 companies since the show's inception.
Photo: Walt Disney Television from Flickr.
This story is part of a new series of features on the subject of success, Benzinga Inspire.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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