Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.<\/em><\/p>\n While you might remember Howie Mandel best for his many talk show appearances or his time on America\u2019s Got Talent<\/em>, the Canadian comic recently revealed that his best investment has nothing to do with entertainment.<\/p>\n On the podcast In Depth with Graham Bensinger<\/em>, the host asked Mandel about his best investment outside of show business (1).<\/p>\n \u201cI would have to say this building that we’re sitting in,\u201d Mandel said. \u201cI 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.\u201d<\/p>\n He said that this commercial property, which he rents out to other creatives, \u201chappens to be a good investment from a real estate point of view,\u201d while also being a positive career and creative investment.<\/p>\n But that building is just one of many Mandel owns, and he noted gas stations really \u201cbecame the big business\u201d in his portfolio.<\/p>\n 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.<\/p>\n \u201cI 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,\u201d he said.<\/p>\n Noticing that home developers in the area were buying dirt to build on, but that the surrounding area wasn\u2019t developed, he decided to focus on commercial real estate in the same area.<\/p>\n \u201cI’d go see where the land was subdivided before the houses were built,\u201d Mandel said. \u201cI’d buy two acres of dirt that would lead into whatever the main artery into this new subdivision was \u2014 and people would say, \u2018For what?\u2019 And I’d go, \u2018These are 2,000 families. Where are they going to get gas? Where are they going to buy their groceries?\u2019\u201d<\/p>\n The potential was obvious.<\/p>\n \u201cSo, I’d put a little strip mall of a gas station, a little AMPM store, a car wash, and this became \u2014 I knew that I was going to be serviced by 2,000 homes.\u201d<\/p>\n<\/p><\/div>\n 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.<\/p>\n Read More: I\u2019m almost 50 years old and don\u2019t have retirement savings. Is it too late to catch up?<\/strong><\/p>\n Read More: Non-millionaires can now invest in this $1B private real estate fund starting at just $10<\/strong><\/p>\n Mandel isn\u2019t the only star who has used his success in entertainment \u2014 and the big paydays that come with it \u2014 to take big swings on investments.<\/p>\n Back in 2022, while appearing on The Late Late Show with James Corden<\/em>, Kevin Hart described his angel investing business to the talk show host (2).<\/p>\n \u201cThe worst business investment that I\u2019m currently involved in is the business of investing in your friends,\u201d he told Corden. \u201cYou 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,\u201d he laughed.<\/p>\n 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\u2019s Cultural Leadership Fund, providing Black founders with $35,000 to scale their businesses (3).<\/p>\n If you find Mandel\u2019s 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.<\/p>\n Real estate platform Arrived offers access to shares of SEC-qualified investments in rental homes and vacation rentals for as little as $100.<\/p>\n 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.<\/p>\n 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.<\/p>\n View their full list of vetted properties to start investing today.<\/p>\n 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.<\/p>\n Since they eliminate intermediaries \u2014 brokers and crowdfunding middlemen \u2014 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.<\/p>\n And with Lightstone DIRECT, you invest in single-asset multifamily deals alongside Lightstone \u2014 a true partner \u2014 as Lightstone puts at least 20% of its own capital into every offering. All of Lightstone\u2019s investment opportunities undergo a rigorous, multi-stage review before being approved by Lightstone\u2019s Principals, including Founder David Lichtenstein.<\/p>\n 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.<\/p>\n 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 \u2014 including in industrial and commercial real estate.<\/p>\n As such, even if multifamily rentals don\u2019t appeal to you, Lightstone could still serve you well as an investment vehicle for other real estate verticals.<\/p>\n Get started today with Lightstone DIRECT and invest alongside experienced professionals with skin in the game.<\/p>\n And if you\u2019re already managing multiple properties, you\u2019re probably dealing with tax season headaches. Keeping track of every deduction isn\u2019t easy, but it is essential if you want to ensure your profits remain as high as they can be.<\/p>\n A financial advisor can help crunch the numbers and build a plan that works.<\/p>\n That\u2019s where Advisor.com can come in. The platform connects you with an expert near you for free.<\/p>\n 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.<\/p>\n Just enter a few details about your finances and goals, and Advisor.com\u2019s AI-powered matching tool will connect you with a qualified expert best suited for your needs based on your unique financial goals and preferences.<\/p>\n Finding the right advisor isn\u2019t always easy \u2014 there\u2019s no one-size-fits-all solution. That\u2019s why Advisor.com lets you set up a free initial consultation with no obligation to hire to see if they\u2019re the right fit for you.<\/p>\n Once you\u2019ve got the right financial advisor in your corner, the next step is getting a clear picture of where your money\u2019s actually going. That starts with the basics \u2014 budgeting and tracking your spending.<\/p>\n Join 250,000+ readers and get Moneywise\u2019s best stories and exclusive interviews first \u2014 clear insights curated and delivered weekly. Subscribe now.<\/strong><\/p>\n We rely only on vetted sources and credible third-party reporting. For details, see our<\/em> editorial ethics and guidelines<\/em>.<\/em><\/p>\n @Graham Bensinger (1); The Late Late Show with James Corden (2); AfroTech (3)<\/p>\n