The most proven way to build wealth is through investing in real estate. Tycoon Real Estate is a crowdfunding platform allowing people for as little as $1,000 to invest in real estate. Aaron pitches the Shark Tank investors in Season 6.
A lead developer is in charge of the development. They have done two proof of concepts. One was a part of a house in San Francisco, and they charge 1.2% of the investment.
Tycoon Real Estate allows exit of investment after one year.
Aaron tells the Sharks that the clients can sell their investment after a year.
Company: Tycoon Real Estate
Entrepreneur: Aaron McDaniel
From: San Francisco, California
Ask: $50,000 for 5% equity
Companies in this episode: Victoria's Kitchen, GreenBox, Tycoon Real Estate, PhoneSoap
Season: Season 6 Episode 616
Sharks: Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 01/30/2015
Deal: No Deal
What do the Shark Tank Investors say about Tycoon Real Estate
Mark Cuban goes out immediately hearing that you can invest in real estate for as little as $1,000. He smells a lawsuit. Mark is visibly disgusted with the deal. Mark went out because it doesn't protect investors after Aaron says the opposite.
Barbara Corcoran calls this too spooky and unfair to anyone who invests because they are blind to the lead investor. How does she know he is a good guy, and his projections are right. You have to trust the people behind it. She is out.
Kevin O'Leary has a billion dollars of people's money that he is responsible for handling. Kevin has a brand, and people trust him because he puts his own money in every deal. The tycoon has no brand. He offers him $50,000 for 50% equity, and he will rebrand his product. Aaron said he would not go over 10%.
Lori Greiner does not like the idea of investing with a bunch of people she doesn't know. She is out.
Robert Herjavec says when you deal with the life savings of people who are working towards retirement they need a conservative investment. Tycoon is not a prudent investment. He is out.
Tycoon Real Estate after Shark Tank
Tycoon Real Estate reportedly is acquired by a group of real estate crowdfunding sites in a cash deal according to a report on a crowdfunding site. Today, the website is no longer up and running. I am with the Sharks on this one. Tycoon Real Estate just did not sit right.
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