How To Become A MILLIONAIRE - The Truth No One TELLS YOU! | Kevin O'Leary & Barbara Corcoran

Oh, you can't believe where we are tonight. We're in Barbara's home. This place is a very secret penthouse. I'm trying to make it exciting, Barbara, but we have a beautiful view of the park. We're in the kitchen because Barbara is making me dinner tonight, which she owes me. I ordered in sushi takeout; it's all you're worth.

But what's the important thing about tonight is Barbara's gonna help me on this fantastic new episode of Ask Mr. Wonderful. We have some incredible questions. Barbara has her own opinions; I don't agree with any of them. You know that from Shark Tank, but it doesn't mean she doesn't deserve a voice at the table, so that's what we're gonna do—a table well at your table.

But before we start, Barbara, we're gonna do a shout out for Alpha M. Remember? I remember them; you kicked his ass! You kicked his ass out of Shark Tank twice! But I didn't know he was gonna give me free Sunwest. Nearly made a deal with him, but it didn't work out. He's gone on.

Okay, yeah. Really nice guy. Very successful. Now these are enemy sunglasses. Chuckling, pay for this and you're getting paid. I want a part. I'm not putting on until I know if you're getting paid. I always get paid for everything. Are you gonna give me a portion? Probably, yeah. Oh forget it; maybe I get some free glasses out of it anyways.

Barbara, put the glasses on. Help out. I'm out. You screw them once, you're gonna screw a third time with your Alpha M enemy glasses, mister. Actually, lovely; everything looks great. Look below for that connection directly to Alpha M site and get a great deal—20% off.

I can't believe I'm camping for you! Yeah, wonderful 20! It's a 20% discount off these amazing Lassie. Barbara, stop your whining! I can't believe it. What happened?

Oh, by the way, these are our action figures. You ever seen these puppies? This is Mr. Wonderful, and this is me sitting on his lap. Barbara's comes in a little broom mystery. Come on; our thing is really cute!

Yeah, like did you want to answer some questions tonight, Barbara? Yes, I do. I want to ask some questions. Yes, I do. Are you ready, Barbara? Yeah, I am. I am.

Okay, here we go. We're gonna get into the questions right now. Let me just get us friar. They're from all around the world; that's what's so interesting about it. Let's just listen to them, and then I'll let you decide what you want to do and if you want to contribute. I hope you will, but you're gonna find these really intriguing.

So let's start with number one here. Hey, Kevin! My name is James, and I was wondering what you think the best way to spend a life is. Thank you, James. Now you're talking, Big Boy! How to spend a life? Why, bro, big question! I think he's come to the right place. Why does the answer that?

But I think, if you want to have a great life, you should give all the satisfaction life. If you think back, anything you've done is in the act of giving. So if you're not gonna be a giver, you're gonna have maybe a more successful life by a lot of people's standards, but you're not gonna have the wonderful satisfaction when you go to bed at night that you really have led a wonderful life.

But giving to whom? To whoever you are! I'm not talking about charity giving; I'm not talking about making sure that your husband, your significant other—well, I'm good on a good day with my husband. But what I am singing about is being a good friend, being a good parent, taking the time to be kind. All these things accumulate into a feeling of self-worth that makes you feel as though you've left or you've lived a very good life. That's what I think!

That's why—very profound! I must admit. I'm gonna answer it slightly differently. I'm sure you have to find something that you love to do that really keeps you engaged. If you want a great, successful life, I'm including family and everything else. But it's the work you do that gets you up in the morning. I don't work for money anymore.

Barbara worships you; it's not what it's gonna give you—the satisfaction when you're old and gray and looking back at where you spent your time and how well you spent it. I got a belief—I loved working! You know when I pass on to wherever I'm going, up there or down there, I'm gonna go right back to work when I arrive.

And the other thing I'm doing—I told my son this: all my watches are being buried with me because, I mean, you go to perpetuity, you need to tell the time all the time. Oh my God, leave those two photos! I always say this; they're gonna be buried with me.

And what are we wearing today, Barbara? This is an FP joy. Oh, you love it! I love it! Kind of, I feel like a red watch. Yeah, stop your whining! Let's get another question here.

Here we go; this is gonna be interesting. Hello, Mr. Wonderful! My name is Christian, I'm in my early 30s, and against all odds made a career as a classical musician. I teach music as a professor at the University and perform and travel actively. I'm very happy, but in order to support my parents and my own family in the future, it would be great to maximize income.

My question is, what's advisable for someone who has a career but would like to simply make more money? Should I just focus on my current career and invest conservatively, or is it advisable—or even possible—to pursue business ideas while having a completely different career path?

You're my favorite shark! We all know he sounds like Beethoven. Yes, he does! And so he brings up a really interesting issue; he's clearly a classically trained musician making a living as a classically trained musician, which is impossible, but he wants even more cash. Barbara, what do you tell Beethoven?

I would say stay with what you're doing and invest in things conservatively. He has gotten life by the tail of having something he loves to do, and don't mess with it. That would be my advice. But if he wants to take some of his income and put it to work somewhere, what do you think?

He needs to find a good person to invest for him because if he's going to be distracted from his work, he's gonna be more stressed over how it's doing. I think he's gotta learn to trust someone and delegate.

Interesting! I was going to say that's a remarkable career to be successful in, and I think you can build it even bigger if you stay focused. I would kind of agree with you. If you're good at that—don't agree? We're not used to—it! I'm not used to it either. Maybe I have to throw you out the window now!

But the point is he should stay focused and put his other endeavors behind his true love, which is music. He's such a lucky man; he has that kind of—I really like that! He'll be told, and I love this. We're a great one!

Let's go. Aren't these fun, Barbara?

Hello, Mr. Wonderful! This is Alejandro Franco from Colombia. I'm graduating from University in one year, and I am building three businesses on the side. But I'm having a hard time finding a mentor or somebody I can shadow and learn from that is actually successful in business.

So my question is, how can a 22-year-old make himself useful or stand out to a business person that can perhaps take a risk to pull me along and teach me? What are the skills and things you would need to see in a candidate to even consider teaching him? I am willing to go and find a mentor no matter how hard, so thank you for your answer.

He's having a hard time finding a mentor; what do you say? 22-year-olds? It's got so much ambition. Barbara really sure showed you the way. It was a one mentor that pointed left or right, and you found your way, I doubt it!

No, the life of hard knocks pushed me all over the place. So what he's looking to someone else for an answer? Bad idea! All your answers have to do with yourself—what you experience, what you expose yourself to, how much you play in the traffic, what you reject, what you accept. You have to find your own path in life.

This guy's looking for someone else with the answer, like, "I'll follow!" You know, we're called individuals for a reason; everybody's an individual. He's gotta find his own gig. You get help from friends, you help from more senior people in your field, but in the end, you have to find your own way.

I really believe that. I think the kid's off to a good start, though; he sounds like he's got his stuff together. I like the international aspect!

He doesn't believe he's got his stuff together.

Well, because he's looking for the answer! So if he tries any one of these businesses, he's got multiple opportunities. Go make something happen; he'll learn pretty quickly how damn hard it is!

Yeah, of course! I'm okay with that answer. Maybe I won't throw you out the window on Shark Tank. All of our good entrepreneurs never really listen to us. They listen, but they don't follow our advice; they find their own advice and that's the mark as well. They listen when we won't give them a deal because their valuations are too high.

Alright, next! We're really ripping through them here, Barbara; I'm impressed with you! Yeah! Here we go, ready?

Hey, Mr. Wonderful! My name is Antoine; I'm 21 years old. I'm currently playing professional baseball in the minor leagues. My question to you is if you are someone who didn't have the luxury of being available 24/7 and using the money that you have in a bank account to start up the business, but you still wanted to find out ways how you could invest or utilize the money that you do have in your bank account, how would you go about that?

For this example, let's say you have a hundred thousand dollars in your bank account. How would you go about using that hundred thousand dollars and getting it to work for you? Or what would you do with this? Thank you!

So he sounds like he really has a hundred thousand because if he's in the juniors, he's obviously got it together as a baseball player. Kind of unique because that career can end like that; it's a little injury, you're done!

But he could take a page out of Alex Rodriguez, which is—Alex went to every smart guy he knew once he became a major league player, and he asked, "How do I make money? What can you teach me about your business that will help me make money?" So then when he retired from baseball, he actually had a circle of friends that he could lean on.

He invested in real estate like crazy; he invested in municipal bonds like crazy, but he knew what he was doing because he was willing to be a student while he was a professional baseball player.

I think that... So he stayed focused on where his cash was coming from. Because this kid's young and has a lot of dough, but he's curious. Yeah—asking questions, he's a smart kid; he's fine because he's asking early!

Yeah, so the key is, if you're a professional athlete, don't get an entourage; don't have all these hanger-ons. They're taking—will do, though! It's terrible to do that; such a waste of money! The only entourage you should have is your mother. That's it, your mother!

Oh, your mother's something! Everybody else—tell them to go beep because you're working hard to make that money, and you're in a very risky career. You can buy your mother a car, a house, etc., but nobody else. That's good advice!

Alright, here we go! Yeah, even the girls—forget! Like, come on! So you get serious with somebody!

Alright, here we go! Hey, Mr. Wonderful! So, I know you're always talking about going to college for engineering because you do the safe—that's the safest route. But what do you think about IT and cyber security? Cyber security is what he's talking about in electrical property and cybersecurity.

Well, I would say we have somebody we know in Shark Tank that's very involved in doing quite well in cybersecurity—Robert Herjavec! So he's done very well with it! You know I've taught him so much over the years!

I'm just thinking he's got engineering and cybersecurity; I would say those are just the right column! Check a box on—know/find what you love, and you'll do very well! But if you've already spent the energy and the discipline to go through engineering, which is—give it a shake!

He must love engineering, so I think combining cyber security and engineering is pretty smart, if you ask me! So Barbara wants you to just get out, start making some money, meet a girl! That's what you said!

Alright, here we go! Next on the hit parade!

Hi Kevin! I've been investing in single-family and duplex real estate for the past two years, in which I have bought four properties with my own money. I often find myself coming across deals with 20 to 25 percent yearly AR-wise and great cash flows, but I've run out of money to buy them myself, and I want to accelerate! I'm only 26, so all my friends are young, broke, and own nothing.

My family is typically conservative with their money and are skeptical of what I'm doing, even though I'm doing pretty well. So can you give me any better ideas on where to find the money to fund my deals? Thanks!

Barbara, this is all about you! You're the real estate queen! Let me tell you something: you have the knowledge and the expertise to spot a good deal, analyze it, and make it happen! That's worth a fortune! The great thing about that is you've got the time to really do it. You're young, you're eager, you're gonna learn it very well.

And the people that have the money don't have the time to learn it! So you have a perfect situation where you can get—I’m talking about the computer issue with you.

You know, I was wondering about that, Barbara. So look into computer. Cutties confuse her! You're right! Is it? Check the camera! Barbara, he's watching you right now! And you think?

So Barbara is really—what is he? Of course he is! Even in all things you're not supposed—listen! I'm invested in real estate all over the New York City area, and I got in there early and made a fortune.

But I liked one thing: I like time because I was running a business and building a business and building equity, and I didn't have an inch to spare. So I found myself guys like you and gals like you all over the area and asked him to locate property for me and tell me where I should invest.

I became the money person; they became the talent person on locating it. So what you could do easily is find people to invest along with you, create a fund, or at least a partnership and get going.

It's the easiest way to do it because you have what they don't have—you have time and expertise! And they have what you don't have, which is money! So it's a natural partnership! Just get out there and start telling people what you're doing, what your chance returns have been on these dual-family homes, and convince them easily through your record that they should be investing more in Zyk.

And your assumption or your suggestion to him is that he gets a fee for doing this because basically he's doing all the work to find the places. Really, you would be the general partner; you can get a management fee, but those details are less important than the fact that you build a friendship and a trust relationship with someone with a lot of cash!

Once you have them in your pocket and they really trust you, you can do whatever you want in life, and you could bring other people along with you. Believe it!

I'm agreeing with Barbara; I can't believe it! I never do that! I'm having a—I'm having a Justin, I'm sure! Look, look— that's good advice! I totally agree! The guy needs cash! He has proven that he can make what sound solid! I want to invest; you sound solid as a rock to my ear!

Very interesting!

Anyways, congrats getting Barbara to endorse your deal! I can't believe it! Yeah, I should be getting a royalty for that!

Oh sure! Hi Mr. Wonderful! My name is Elizabeth. I am a hustler/entrepreneur and a military wife. My question for you today is: How can, in this crazy world, so many talented entrepreneurs get in front of you guys on Shark Tank?

I have such an amazing story to tell, with being a special-operations wife. My story is so different from your normal military wives and how I've built this business to be successful while my husband is deployed. I would love the opportunity, and just any insight you have into getting in front of you guys would be so appreciated! Thank you!

You know what I'm thinking about, Mindy casting! Absolutely! All the roles go through Mindy casting, right? You should send you a pitch deck to both Mr. Wonderful and myself, though we can't look at the fields first; that's a bit sale! We should send it to Mindy Cassie, and she'll guarantee to—because she sounded so compelling on that question!

I want to—we'll both help you do that, so you're gonna have to figure out how to get that pitch!

So give her your email address! Come on, right now! I can't do that to a million people now! I won't! You guys get to use words you don't mean! That's a bargain!

Calm, send me your pitch deck! Wow! Look at it! I'll send it to Mindy at Mindy can't send everything else too—Barbara Corcoran dot com!

I need everything! Everything you watch us send it there! I love this, Barbie! Just—that's fantastic! You may want to think about this—you have a couple of things going for you! Your military! Shark Tank loves military people! You're articulate! Shark Tank TV loves—you know!

I have a vision of her in my mind, and the idea that you're a hustler—that's what is the fruit of Shark Tank! That's what makes that engine run!

So come on; come on! Send me a [ __ ]! I'll make sure they get it! Listen, I think that's terrific! Look! Another fantastic episode of Ask Mr. Wonderful with a special guest tonight in her home!

You know, the truth is nobody gets to ever come to this home because she's so green! I invite everybody—you know, Barb is over here just a Camry! Anyway, I've been talking to the wrong screen!

There's three cameras here; we got this one here that's kind of looking up and seeing this. Well, let me just look at the size of your listeners right off the record. Everybody's invited at this home!

I've avoided Mr. Wonderful for two years! Right? He got word that everybody was invited about him, so he decided this is absolutely fantastic! See who's coming! You just walked right in!

The reason I'm here is to check it out! I may buy it! I really like this! I—dad, it's so cheap! You never pay with this brace, but I do like this place, Barbara! I like the view! I'm sure it's a gorgeous view, and everything is wonderful about my own!

But this is the wrong way! You're gonna put your belly to the barn page! I'll give you 800 thousand! Oh! What a deal!

Anyways, thanks for coming, everybody! And now we've got to get to work, Barbara!

Oh, look at the sushi! Did you make that yourself? Oh, that's wonderful! Oh, one more thing! One more thing! One more thing, Barbara! She wanted me—this embarrassing!

No, this is cold hard merch dot com! This is for Nancy and Kirsten, so they can eat. If they sell any of these, they get a little bit of it! That's okay!

And look at this one! This is know it! Barbara, you look great in there! Check this out! I'm not wearing this crap! It says get money and get free! That's Barbara! This merch is smoking!

These are $29.95 sale! Oh hard merch dot com! Oh yeah baby! What I like about this—it's terrific!

[Laughter] Alright, everybody! Thank you for coming! We'll be back next week! Not here!

[Laughter]