Self-made millionaire Barbara Corcoran reveals her ‘golden rule’ of real estate investing (2024)

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e=r.searchBoxForm.querySelector("[name=fr]"),n=r.searchBoxForm.querySelector("[name=fr2]");e&&r.config.searchBox&&r.config.searchBox.params&&r.config.searchBox.params.fr&&(e.value=i.searchBox.params.fr,e.disabled=!1),n&&r.config.searchBox&&r.config.searchBox.params&&r.config.searchBox.params.fr2&&(n.value=i.searchBox.params.fr2,n.disabled=!1),r.searchBoxForm.submit()}}),1e3)},r.recognition.onspeechstart=function(){},r.recognition.onspeechend=function(){r.recognition.stop()},r.recognition.onerror=function(){r.speechText&&(r.speechText.innerText=r.i18n.t("search.voice.recognition_error")),r.hideTrending(r),r.showRetryLink(r),r.errorAudio.play()},r.recognition.onaudiostart=function(){r.speechButtonContainer&&r.speechButtonContainer.classList.add("listening")},r.recognition.onaudioend=function(){r.speechButtonContainer&&r.speechButtonContainer.classList.remove("listening")},r.recognition.onsoundstart=function(){r.hideTrending(r),r.noSpeech=!1,r.speechButtonContainer&&(r.speechButtonContainer.classList.remove("listening"),r.speechButtonContainer.classList.add("speaking"))},r.recognition.onsoundend=function(){r.speechButtonContainer&&r.speechButtonContainer.classList.remove("speaking")},r.recognition.onstart=function(){r.recognitionInit(r),r.startRecognition(r)},r.recognition.onend=function(){r.isRecognitionStart=!1,0==r.noSpeech&&""==r.speechResult&&(r.speechText&&(r.speechText.innerText=r.i18n.t("search.voice.recognition_nomatch")),r.hideTrending(r),r.showRetryLink(r),r.errorAudio.play())},document&&document.dispatchEvent&&document.dispatchEvent(new Event("VOICE_JS_READY"))}}o.I18n=m,o.prototype.renderPermissionGuide=function(e){var n='\n

    \n

    \n

    \n

    \n

    \n

    \n

    \n

    '.concat(e.i18n.t("search.voice.permission_title"),'

    \n

    ').concat(e.i18n.t("search.voice.permission_text"),"

    \n

    \n

    \n

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    \n

    \n

    \n

    \n

    \n

    \n \n \n \n \n \n \n

    \n

    \n

    \n \n \n '.concat(e.i18n.t("search.voice.recognition_retry"),'\n

    \n

    \n

    \n

    \n

    \n

    \n ').concat(e.i18n.t("search.voice.trending_title"),'\n \n

    \n

    \n

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e)&&("SpeechGrammarList"in e||"webkitSpeechGrammarList"in e)}}],d=0;d0){var n=e.speechResult.charAt(e.speechResult.length-1);"."!==n&&"?"!==n&&"。"!==n&&"?"!==n||(e.speechResult=e.speechResult.slice(0,-1))}},o.prototype.sendBeacon=function(n,t){var o=e.YAHOO.ULT||{},i=e.YAHOO.SB||{};if(o.beacon_click){var r={_S:i.config.i13n.spaceid,_I:i.config.i13n.pvid,actn:n,sec:"search",slk:t};e.YAHOO.ULT.beacon_click(r)}},o.prototype.ajaxReq=function(t,o){var i,r,a=XMLHttpRequest.DONE||4,s=new XMLHttpRequest;if(n.documentMode&&n.documentMode<10)return(new e.XDomainRequest).onload=function(){try{r=JSON.parse(i),o(r)}catch(e){return}},s.open("GET",t),void s.send();s.onreadystatechange=function(){if(s.readyState===a)if(200===s.status){i=s.responseText;try{r=JSON.parse(i),o(r)}catch(e){return}}else o(r)},s.open("GET",t,!0),s.timeout=1e4,s.send()},e.YAHOO||(e.YAHOO={}),e.YAHOO.Util||(e.YAHOO.Util={}),e.YAHOO.Util.VoiceSearch=o}(window,document)}();var Wn={containerClass:Un.tooltip,textClass:Un.tooltip__text,showClass:Un["tooltip--show"]},Jn=["zh-hant-tw","zh-hant-hk"];ye("ybar-mod-searchbox",(function(e){var n={ybar:document.getElementById("ybar"),searchInput:document.getElementById("ybar-sbq"),buttonBar:document.querySelector(".".concat(Un["sa-btn-bar"])),voiceSearchBtn:document.getElementById("ybar-sbq-voice"),searchForm:document.getElementById("ybar-sf"),searchBoxIcon:document.querySelector(".".concat(Un["searchbox-icon-uh3"])),searchBoxPlaceholder:document.getElementById("ybar-smartphone-searchbox-placeholder"),searchBoxBackButton:document.getElementById("ybar-search-back-btn"),shopsButtonsWrap:document.querySelector(".".concat(Un["shops-buttons"])),categorySelect:document.getElementById("shops-category-select"),selectedMerchantInput:document.getElementById("selected-merchant-input"),selectedMerchantClearButton:document.querySelector(".".concat(Un["selected-merchant-clear-button"])),submitSearchBtn:document.getElementById("ybar-search"),clearSearchBtn:document.getElementById("ybar-sbq-x")};!function(e,n){var t,o,i,r=e.getConfig();if(n.ybar&&"desktop"===r.device&&(null===(t=r.bucketConfig)||void 0===t?void 0:t.highlight_searchassist)&&(null===(o=r.bucketConfig)||void 0===o?void 0:o.overlay_class)){n.ybar.setAttribute("data-ovrly-bkt",r.bucketConfig.overlay_class),null===(i=n.searchForm)||void 0===i||i.classList.add(Un[r.bucketConfig.overlay_class]);var a=document.createElement("div");a.classList.add(Un.overlay,Un[r.bucketConfig.overlay_class]),document.body.appendChild(a),e.onDestroy((function(){document.body.removeChild(a)})),e.addElementListener(n.searchForm,"focusout",(function(e){if(n.searchForm&&n.searchInput){var t=e.relatedTarget;t&&!n.searchForm.contains(t)&&window.YAHOO.SA&&window.YAHOO.SA.apps&&window.YAHOO.SA.apps[0]&&window.YAHOO.SA.apps[0].view.shown&&window.YAHOO.SA.apps[0].view.hide()}}))}}(e,n),zn(e,n),n.voiceSearchBtn&&function(e,n){var t=e.getConfig(),o=t.locale,i=function(){var e,t;(null===(t=null===(e=window.YAHOO)||void 0===e?void 0:e.Util)||void 0===t?void 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    Self-made millionaire Barbara Corcoran reveals her ‘golden rule’ of real estate investing (2024)

    FAQs

    Self-made millionaire Barbara Corcoran reveals her ‘golden rule’ of real estate investing? ›

    Her golden rule is made up of two parts. The first part is good advice for any real estate purchase: make a 20% down payment. The second part is renting the property out to tenants for enough to cover the mortgage, even if you don't profit initially.

    Who is Barbara Corcoran self made millionaire? ›

    She founded The Corcoran Group, a real estate brokerage in New York City, which she sold to NRT for $66 million in 2001 and shortly thereafter exited the company. One of the show's original "Shark" investors, Corcoran has appeared in all 15 seasons of ABC's Shark Tank to date.

    How much did Barbara Corcoran sell her real estate business for? ›

    Barbara Corcoran was 'scared' after selling her real estate firm for $66 million in 2001: 'I had no way to produce money' Over two decades since selling her brokerage firm, Barbara Corcoran says she still hasn't spent all of the millions she got in the deal.

    How do you become a self made millionaire in real estate? ›

    8 Tips On How To Become A Real Estate Mogul or Millionaire
    1. Have a Good Business Plan. ...
    2. Find Sustainable Real Estate Markets. ...
    3. Narrow Down Your Scope. ...
    4. Build Your Real Estate Team. ...
    5. Acquire Your First Investment Real Estate. ...
    6. Step Back and Evaluate Your Investments. ...
    7. Step Back and Wait.
    Aug 4, 2024

    How rich is Barbara Corcoran? ›

    Barbara Corcoran has an estimated net worth of $100 million in 2024. Barbara Corcoran's net worth in 2024 consists of earnings from her business ventures, Shark Tank salary, writing career, and real estate investments.

    What is the golden rule of real estate? ›

    Respect for the Public

    Follow the "Golden Rule”: Do unto other as you would have them do unto you. Respond promptly to inquiries and requests for information. Schedule appointments and showings as far in advance as possible. an occupied home, promptly communicate the situation to the listing broker or the occupant.

    Why did Barbara leave Shark Tank? ›

    Two weeks before the show was scheduled to start filming, Corcoran was fired when received an unexpected call that rescinded her offer. “The day before I was leaving for LA, the secretary called to tell me that the producers had changed their mind and were giving the lone female seat to another investor.”

    What is the most profitable real estate to own? ›

    Commercial properties are considered one of the best types of real estate investments because of their potential for higher cash flow. If you decide to invest in a commercial property, you could enjoy these attractive benefits: Higher-income potential.

    Can real estate investing make you rich? ›

    For those who purchase rental properties, it can take between five and 15 years to generate substantial income. Those seeking to become rich can expect to see significant returns within 15 or more years, especially if they hold their properties over multiple market cycles or until the timing is most favorable.

    How do self made millionaires start? ›

    Every self-made millionaire has a different story of how they amassed a net worth that lets them bear the title. Some live frugally or invest aggressively, while others start companies of their own that take off and make them rich.

    How did Barbara Corcoran turn $1000? ›

    She is also the founder of an eponymous real-estate company, which she started with a $1,000 loan after leaving her job as a waitress in New York City. Over the next 25 years, she would parlay that $1,000 into a $5 billion real-estate business.

    How many investments does Barbara Corcoran have? ›

    Barbara Corcoran has invested in more than 80 companies on “Shark Tank.” They haven't all been winners. But Corcoran's best investments have more than made up for her losses on failed projects (just like her co-star Mark Cuban).

    Is Barbara Corcoran daughter adopted? ›

    After welcoming the young man via IVF in 1994, the couple adopted their daughter a decade later.

    Who are the self made millionaire? ›

    'Self-Made' Billionaires Who Started Rich
    • Jeff Bezos. Jeff Bezos got a $250,00 loan from his parents when he wanted to grow Amazon and turn it into the world's largest bookstore. ...
    • Elon Musk. ...
    • Mark Zuckerberg. ...
    • Phil Knight. ...
    • Donald Trump. ...
    • Sam Walton. ...
    • Kim Kardashian.
    Jun 7, 2024

    Who was the first person to become a self made millionaire? ›

    Behind the numbers (Biography.com):

    "Madam C.J. Walker invented a line of African American hair products after suffering from a scalp ailment that resulted in her own hair loss. She promoted her products by traveling around the country giving lecture-demonstrations and eventually established Madam C.J.

    Who is the first self made millionaire? ›

    Madam CJ Walker, Self‑Made Millionaire.

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