‘Shark Tank’: Why Did Barbara Corcoran Pay $1 Million For Trailer?
Barbara Corcoran, one of the stars of ABC’s reality television show Shark Tank, recently bought a trailer. Yes, the millionaire real estate mogul bought a mobile home. The mobile home is in Los Angeles, California. Specifically, it is in the Pacific Palisades area of one of the United States’ largest metropolitan areas.
Why A Mobile Home?
It is hard to imagine a Shark Tank millionaire buying a mobile home. Mobile homes are not usually thought of as a home to the wealthy and famous. Despite the stigma mobile homes conjure up, the real estate mogul bought herself a mobile home.
Although the thought of living in a mobile home brings to mind The Beverly Hillbillies or Honey Boo Boo and her mother, Barbara Corcoran did not let that stop her from buying it. The Shark Tank star does not think of it as trailer. “Here’s my Taj Mahal – everything’s little,” she explained.
About Barbara Corcoran’s Mobile Home
Barbara Corcoran was quite descriptive when talking about her recent real estate investment. She is clearly in love with the idea of owning this mobile. Considering how much she ended up paying for it, it is probably best she is in love with it.
The mobile home is a double wide. It has “two and a half bedrooms” and two bathrooms. Outside the mobile home, there is a patio area. The patio area has enough room for eight people to sit comfortable. There are lounge chairs as well as a dining room table. Obviously, it is not parked in a conventional mobile home park.
How Much Did The Shark Tank Star Pay For Her Trailer?
The amount of money Barbara Corcoran paid for her mobile home will probably blow a few minds. The Shark Tank star paid $800,000 for the trailer. In addition to the $800,000, she also put about $150,000 into it. Seeing the average cost of a mobile home in the United States costs between $120,000 to $160,000, she spent as much on the repairs, renovation and updates as a typical double-wide mobile home would cost.
Adding all her costs together, the Shark Tank investor spent close to $1 million dollars for her double-wide mobile home in Pacific Palisades, California.
A Wise Investment For The Shark Tank Investor?
Barbara Corcoran is a savvy woman, known her keen eye for real estate investments. In fact, she has such a keen eye for real estate deals, that is what earned her a starring role on Shark Tank. It is hard to imagine she would make a bad investment with all of her years in real estate. Only time will tell.
Tell us what you think. Was the mobile home worth $1 million? Would you ever buy or even consider buying a mobile home for that much money? Why do you think Barbara Corcoran would do such a thing? Sound off in the comment section below.
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