Barbara Corcoran: Why I Live in a Mobile Home (and Paid $1 Million for It)
Editor’s Note: The New York Times recently reported that Corcoran lost her mobile home in the L.A. fires. GOBankingRates republished this prior story about her mobile home before we were aware of the sad news.
Living in a mobile home or trailer probably doesn’t have a positive connotation among the wealthiest class. But, that perception apparently didn’t stop “Shark Tank” businesswoman and real estate entrepreneur Barbara Corcoran from buying a double-wide trailer in Los Angeles.
Check Out: Here’s the Minimum Salary Required To Be Considered Upper-Middle Class in 2025
For You: How Middle-Class Earners Are Quietly Becoming Millionaires — and How You Can, Too
In 2023, Corcoran showed off her mobile home to TikTok star Caleb Simpson in a video tour. Corcoran previously walked the TikTok star through her Manhattan apartment about a year before this, which she also owns.
The money expert also revealed in the video why she decided to purchase the home and put $1 million into it.
How Much Did The Mobile Home Cost?
The Pacific Palisades trailer cost Corcoran $800,000, and she said she put another $150,000 into it.
For comparison, the average price of a new double-wide trailer in the U.S. costs between $120,000 to $160,000, which includes delivery, according to HomeGuide. So, yes: Corcoran’s renos cost more than many mobile homes.
Consider This: I’m a Financial Advisor: My Wealthiest Clients All Do These 3 Things
The Home’s Amenities and Design
During this tour, Corcoran told Simpson, “Here’s my Taj Mahal — everything’s little.”
The interior offers a light, airy and sophisticated feel, boasting an open-concept boho aesthetic. The unit features two and a half bedrooms and two baths.
Outside, there is a sizable patio large enough for some lounge chairs, as well as a dining table and chairs that could seat eight.
How Did She Get The Luxurious Trailer?
How did Corcoran get this premium trailer? She knew about the park and loved the views from it, so she knocked on the owner’s door and asked her to sell. The owner told Corcoran she wasn’t interested in selling right now.
“I’ll sell in a year,” she told the businesswoman. Corcoran then convinced the owner to sell right away by promising that she could use the unit when she pleased for the rest of her life — a difficult deal to refuse.
In reflection, Simpson said, “I think I like this more than the New York City home.”
Corcoran replied, “So do I.”
It’s clear that Corcoran fell in love with her double-wide and was willing to pay top dollar for the chic accommodations, renovations and million-dollar view.
More From GOBankingRates
4 Subtly Genius Moves All Wealthy People Make With Their Money
3 Signs You've 'Made It' Financially, According to Financial Influencer Genesis Hinckley
4 Unusual Ways To Make Extra Money That Actually Work
This article originally appeared on GOBankingRates.com: Barbara Corcoran: Why I Live in a Mobile Home (and Paid $1 Million for It)
