You’ve seen Barbara Corcoran on Shark Tank, heard of her unbelievable real estate deals that make millions of dollars, and might own a product or two that she’s invested in. She’s spent her entire career betting on New York real estate, and her risk has come with tens of millions of dollars in rewards. And while Barbara is known for her “go with your gut” type of investing, her son, Tom Higgins, went a completely different direction—and it paid off.
Tom has flown under the radar for most of his real estate career, never relying on his Corcoran lineage thanks to his different last name. He worked at a real estate brokerage in college, attended real estate finance classes at night, and eventually found himself in the industry as a real estate development professional, helping develop and renovate over 2,000 multifamily rental units!
Tom is a hard-numbers guy. He knows the cash-on-cash return, loan-to-value, and acquisition cost of every deal he’s done. Barbara, on the other hand, self-admittedly, can barely remember which metrics are which. Today, Barbara and Tom debate whether you should go with your head or heart when investing in real estate and why using a little bit of both could make you richer than all the other investors.
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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.