According to Aaron McDaniel, one of the best ways to consistently build wealth is by investing in real estate. The only problem is that you have to be wealthy and know the industry to be successful. That’s why he created a crowdfunding platform that allows every day people to invest in real estate. Will the sharks make him a deal on
Shark Tank Tycoon Real Estate Update
- Entrepreneurs: Aaron McDaniel
- Business: Crowdfunding for real estate
- Ask: $50,000 for 5% equity
- Result: No deal
- Sharks: None
In Aaron’s presentation, he began to explain how his real estate crowdfunding platform, Tycoon Real Estate works, but before he could even finish his pitch, Mark Cuban exclaimed that he hated it and dropped out. The other sharks weren’t as quick to drop out, and they still wanted to hear more about the company in general. He went on to share that his platform lists investment opportunities, and people could invest in property for as little as $1000.00.
Robert Herjavec was next to drop out, stating that he didn’t like to play with people’s life savings. Lori Greiner was uncomfortable with the idea of investing with strangers online, so she also went out. Barbara Corcoran, a shark very familiar with the real estate industry, felt this concept was too risky, so she went out too.
Kevin O’Leary was concerned because the company had only tested the business model with two crowdfunding campaigns for real estate, which was nowhere near enough to prove that the concept works. Kevin did make an offer, but it wasn’t an appealing one for Aaron. His offered $50,000 for %50 equity, to which Aaron countered at 10% equity but they ultimately could not make a deal. Did his company survive even though he didn’t make a deal? Keep reading our Tycoon Real Estate update to find out!
Research for our Tycoon Real Estate update revealed that the company was privately acquired in the years since appearing on Season 6. It also seems that Aaron may have a new job unrelated to the crowdfunding job, but still involved in real-estate properties. You can find out more about the platform on the Tycoon website.
Are you interested in learning more about the other companies featured on Season 6 Episode 16? Follow the links below for our other company updates from the episode.
Before you go, be sure to check out our Season 6 Products Page for even more on companies and products!