Kevin O’Leary is giving thumbs up to a millennial real estate mogul in Los Angeles who’s so thrifty that he refuses to get coffee from a coffee shop, and instead makes his own at home.
The Canadian “Shark Tank” star commented on 30-year-old real estate investor and YouTube star Graham Stephan, who reportedly earned more than $1.6 million last year and has saved 99 per cent of it.
Shark Tank” investor Kevin O’Leary is impressed with how Los Angeles-based millennial Graham Stephan is handling his money. The 30-year-old real estate investor and YouTube star earned more than $1.6 million last year and saved about 99 per cent of it.
“He knows exactly what he’s spending his money on,” says O’Leary. “He’s very, very conscious of not wasting a single cent.”
O’Leary, who likewise stays away from coffee shops in order to save money, admits he finds Stephan impressive. “The kid’s a hustler,” he says. “He’s smart, he’s a hustler and he stays focused on what he has to achieve. Those are attributes of a great entrepreneur.”
The only criticism O’Leary has is that Stephan only invests in real estate, and believes he should diversify.
“There’s nothing wrong with doing what you’re great at,” says O’Leary, but “real estate is just one sector of the economy and it goes through cycles, too. … It’s very prudent to put something aside and just buy [into] the overall market, so you get diversification of your net worth.”
Rating Stephan on a scale of one to 10, “with one being a horrible saver and 10 being brilliant, I’m going to give him an 8.234. He wasn’t a 10 because he didn’t diversify enough, but he’s really good at staying focused on saving and making money.”
Check out O’Leary explaining why he refuses to pay for coffee-shop java: