Why Robert Herjavec Would Bet His Last Million on Real Estate (And Why You Should Too)
Robert Herjavec, the seasoned Shark Tank investor and serial entrepreneur, has made a staggering 81 deals throughout his career. Yet, when recently asked by Grant Cardone at the 10X Growth Conference where he’d invest his last million dollars, his answer was immediate and unequivocal: real estate. This response from someone with an estimated net worth of $300 million to $600 million is both intriguing and insightful—offering a valuable lesson for anyone looking to build lasting wealth.
Why Real Estate?
Herjavec’s reasoning is rooted in practicality and experience. “If I’m down to my last million, I’ve got to build a foundation,” he explained. Real estate, he believes, is the ultimate foundation—one that provides stability, generates income, and appreciates over time. By investing in real estate, Herjavec aims to create a steady income stream that would allow him to pursue other opportunities without the pressure of desperation.
Desperation, Herjavec warns, leads to poor decision-making. “Desperate people do stupid s–t,” he quipped. By securing a reliable income source through real estate, he removes urgency from the equation, freeing himself to focus on growth and innovation. This approach isn’t just theoretical—real estate investments can appreciate by an average of 6% to 9% annually, depending on location, even without rental income.
Learning from Failure
Herjavec’s philosophy is also shaped by his experiences with failure. He recently shared the story of his worst investment: a breathalyzer company that went under FDA investigation. Despite the setback, he views such failures as lessons rather than roadblocks. “I believe in myself,” he said. “I believe if I have nothing, I’d become wealthy again.” This mindset of resilience and resourcefulness is just as valuable as any financial strategy.
The Takeaway
For anyone looking to build wealth, Herjavec’s advice is clear: start with a solid foundation. Real estate offers a tangible asset, passive income, and the potential for long-term growth. While no investment is without risk, real estate’s stability provides a safety net that allows entrepreneurs to take calculated risks elsewhere.
In the end, Herjavec’s commitment to real estate isn’t just about money—it’s about mindset. By securing a foundation, eliminating desperation, and staying believing in your ability to recover and grow, you set yourself up for success, no matter where life takes you. Whether you’re a seasoned investor or just starting out, Herjavec’s wisdom reminds us that sometimes, the oldest strategies are the most reliable.
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