How America’s Got Talent host Howie Mandel turned 2 acres of dirt into his ‘best investment’ outside showbiz

Post Content

Lisa Lagace

7 min read

Howie Mandel attends the — Victoria Sirakova / Getty

Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.

While you might remember Howie Mandel best for his many talk show appearances or his time on America’s Got Talent, the Canadian comic recently revealed that his best investment has nothing to do with entertainment.

On the podcast In Depth with Graham Bensinger, the host asked Mandel about his best investment outside of show business (1).

Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don’t have to deal with tenants or fix freezers. Here’s how
Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and 3 simple steps to fix it ASAP
Most Americans earn a dismal 0.39% APY on their cash at big banks. Unlock up to 4.05% APY and pay $0 in account fees instead with a Wealthfront Cash Account

“I would have to say this building that we’re sitting in,” Mandel said. “I made this little man cave that happens to be inhabited by other people who are creative, and tech companies, and other creations which cohabitate together.”

He said that this commercial property, which he rents out to other creatives, “happens to be a good investment from a real estate point of view,” while also being a positive career and creative investment.

But that building is just one of many Mandel owns, and he noted gas stations really “became the big business” in his portfolio.

Mandel told Bensinger about the real estate empire he built in Las Vegas, starting in the 80s, when Vegas was still growing at a rapid pace. Initially, he invested in warehouses, but soon realized there was a larger opportunity in front of him.

“I couldn’t build fast enough to sell them out because all this building was going on, and because of the tax benefits of Nevada, people started moving there,” he said.

Noticing that home developers in the area were buying dirt to build on, but that the surrounding area wasn’t developed, he decided to focus on commercial real estate in the same area.

“I’d go see where the land was subdivided before the houses were built,” Mandel said. “I’d buy two acres of dirt that would lead into whatever the main artery into this new subdivision was — and people would say, ‘For what?’ And I’d go, ‘These are 2,000 families. Where are they going to get gas? Where are they going to buy their groceries?’”

The potential was obvious.

“So, I’d put a little strip mall of a gas station, a little AMPM store, a car wash, and this became — I knew that I was going to be serviced by 2,000 homes.”

After developing eight successful gas stations in the area, he was eventually bought out, but real estate has remained an essential part of his portfolio ever since.

Mandel isn’t the only star who has used his success in entertainment — and the big paydays that come with it — to take big swings on investments.

Back in 2022, while appearing on The Late Late Show with James Corden, Kevin Hart described his angel investing business to the talk show host (2).

“The worst business investment that I’m currently involved in is the business of investing in your friends,” he told Corden. “You never want your friends to feel like their ideas are not good ideas, but thus far, these ideas have been an endless pit of bankruptcy,” he laughed.

But Hart has found success with other investments. Through Hartbeat Ventures, he launched an AI Illumination Grant in partnership with the Fifteen Percent Pledge and A16z’s Cultural Leadership Fund, providing Black founders with $35,000 to scale their businesses (3).

If you find Mandel’s gas station empire interesting and want to make real estate a bigger part of your portfolio, there are ways to do so without the complications that come with being a landlord.

Real estate platform Arrived offers access to shares of SEC-qualified investments in rental homes and vacation rentals for as little as $100.

Backed by world-class investors like Jeff Bezos, Arrived makes it easy to fit these properties into your investment portfolio regardless of your income level.

Their flexible investment amounts and simplified process allow investors to take advantage of this inflation-hedging asset class without any extra work on your part.

View their full list of vetted properties to start investing today.

If diversifying into multifamily and industrial rentals appeals to you, you could consider investing with Lightstone DIRECT, a new investing platform from the Lightstone Group, one of the largest private real estate companies in the country with over 25,000 multifamily units in its portfolio.

Since they eliminate intermediaries — brokers and crowdfunding middlemen — accredited investors with a minimum investment of $100,000 can gain direct access to institutional-quality multifamily opportunities. This streamlined model can help reduce fees while enhancing transparency and control.

And with Lightstone DIRECT, you invest in single-asset multifamily deals alongside Lightstone — a true partner — as Lightstone puts at least 20% of its own capital into every offering. All of Lightstone’s investment opportunities undergo a rigorous, multi-stage review before being approved by Lightstone’s Principals, including Founder David Lichtenstein.

How it works is simple: Just sign up with your email, and you can schedule a call with a capital formation expert to assess your investment opportunities. From here, all you have to do is verify your details to begin investing.

Founded in 1986, Lightstone has a proven track record of delivering strong risk-adjusted returns across market cycles with a 27.6% historical net IRR and 2.54x historical net equity multiple on realized investments since 2004. All told, Lightstone has $12 billion in assets under management — including in industrial and commercial real estate.

As such, even if multifamily rentals don’t appeal to you, Lightstone could still serve you well as an investment vehicle for other real estate verticals.

Get started today with Lightstone DIRECT and invest alongside experienced professionals with skin in the game.

And if you’re already managing multiple properties, you’re probably dealing with tax season headaches. Keeping track of every deduction isn’t easy, but it is essential if you want to ensure your profits remain as high as they can be.

A financial advisor can help crunch the numbers and build a plan that works.

That’s where Advisor.com can come in. The platform connects you with an expert near you for free.

Advisor.com does the heavy lifting for you, vetting advisors based on track record, client ratios and regulatory background. Plus, their network comprises fiduciaries, who are legally required to act in your best interests.

Just enter a few details about your finances and goals, and Advisor.com’s AI-powered matching tool will connect you with a qualified expert best suited for your needs based on your unique financial goals and preferences.

Finding the right advisor isn’t always easy — there’s no one-size-fits-all solution. That’s why Advisor.com lets you set up a free initial consultation with no obligation to hire to see if they’re the right fit for you.

Once you’ve got the right financial advisor in your corner, the next step is getting a clear picture of where your money’s actually going. That starts with the basics — budgeting and tracking your spending.

Robert Kiyosaki says this 1 asset will surge 400% in a year — and he begs investors not to miss its ‘explosion’
Vanguard reveals what could be coming for U.S. stocks, and it’s raising alarm bells for retirees. Here’s why and how to protect yourself
Warren Buffett used these 8 repeatable money rules to turn $9,800 into a $150B fortune. Start using them today to get rich (and stay rich)
Here are 5 easy ways to own multiple properties like Bezos and Beyoncé. You can start with $10 (and no, you don’t have to manage a single thing)

Join 250,000+ readers and get Moneywise’s best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now.

We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.

@Graham Bensinger (1); The Late Late Show with James Corden (2); AfroTech (3)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Terms and Privacy Policy