4 self-made millionaires reveal the best investments they ever made via CNBCMakeIt
We asked these millionaires and advisors in The Oracles about the best investments they ever made — and their predictions for the future."Work for companies that give you equity, like I did at my first startup 2Market and later at AOL. There are so many out there, and they're not all in Silicon Valley anymore. Also, understand what stock options are. Take a class if you need to. If it scares you or you don't understand, figure it out. Don't leave it for someone else to.
—Tamara Mellon, co-founder and chief creative officer of luxury footwear brand Tamara Mellon; co-founder of Jimmy Choo; equal pay and women's empowerment advocate"In 2011, I purchased a 125-unit multifamily real estate project that had been foreclosed on twice in the past 10 years. The property was built in 1974 and suffered badly from neglect. We spent $1.
—Robert Martinez, founder and CEO of Rockstar Capital, a real estate investment firm with $285 million in assets under management and $71 million in investor capital; host of"The Apartment Rockstar" podcast; follow Robert on YouTube and Instagram"My best investments have always been in bubbles. On the last day of class in 1989, my law school professor gave the auditorium one word of advice. 'Are you listening?' he asked. 'Computers.
I was already into another bubble: California real estate. In 2000, I bought a new three-bedroom house in Newport Beach for $865,000 with 10 percent down. My mortgage was $692,000, and I took out a second for $88,500 to fix the floors and backyard. I refinanced five times, rolling that second mortgage into one and lowering my interest rate each time. I sold it for over $1.8 million in 2006 and made a million-dollar profit. I only have one thing to say about investing.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Self-made millionaire: Buying a home can help you retire early, if you make 1 important choiceBuying a home can help you retire early if you make 1 important choice, according to this self-made millionaire. via CNBCMakeIt
Read more »
Opinion | The streaming age is making it easier than ever to discover great moviesDespite the superiority of physical media, streaming and digital certainly have a place in the film-watching, and filmmaking, ecosystem.
Read more »
This self-made billionaire sold fax machines door-to-door for 7 years before hitting it big—here's how she got thereThis self-made billionaire sold fax machines door-to-door for 7 years before hitting it big—here's how she got there via CNBCMakeIt
Read more »
Opinion | The ‘best economy’ ever isn’t working for working peopleOpinion: The 'best economy' ever isn’t working for working people
Read more »
Outgoing FDA chief Scott Gottlieb gets personal about leaving 'the best job' he's ever hadAfter nearly two years at the helm of the FDA, Scott Gottlieb is resigning at the beginning of April.
Read more »
March Madness: Was this the best Elite Eight weekend ever?Two OT games, including an instant classic Virginia-Purdue contest, combined with Michigan State's upset of Duke made for one epic weekend.
Read more »