Fresh & Fit - Grant Cardone Returns!

00:07:00.000 And we are live.

00:07:01.000 What's up, guys?

00:07:01.000 Welcome to Freshman Podcast, man.

00:07:03.000 We got the legend in the house, Grant Cardone.

00:07:05.000 Let's go!

00:07:05.000 Let's get into it.

00:07:56.000 All right.

00:07:56.000 And we are live.

00:07:57.000 What's up, guys?

00:07:57.000 Welcome to the Freshman Podcast, man.

00:07:59.000 Money Monday.

00:07:59.000 We got a legend in the house, Grant Cardone.

00:08:01.000 We are happy to have him back.

00:08:03.000 We'll just get right into it.

00:08:04.000 Grant, welcome back to the show, man.

00:08:06.000 We're happy to have you.

00:08:07.000 Honored to have you as a guest.

00:08:08.000 For those that are unaware, I've been living under a rock when it comes to financial content.

00:08:12.000 Can you please introduce yourself to the people?

00:08:15.000 Well, let me ask.

00:08:16.000 What's your Instagram?

00:08:17.000 Because I'm getting ready to get you some smoke.

00:08:18.000 Oh, I'm banned.

00:08:20.000 Yeah, we're both banned.

00:08:21.000 Damn. You're banned, bro?

00:08:21.000 We're both banned.

00:08:23.000 We're banned.

00:08:24.000 We just got banned like a couple weeks back.

00:08:24.000 Yeah, man.

00:08:26.000 Yeah, March 3rd.

00:08:27.000 What did you have to do to get banned, man?

00:08:30.000 That's crazy.

00:08:31.000 Oh, man.

00:08:32.000 That's a long story.

00:08:33.000 We're on X, but yeah, we're banned on Instagram.

00:08:35.000 Maybe just being black.

00:08:38.000 No, I know other black people.

00:08:41.000 I'm kidding.

00:08:42.000 Yeah, so look, my name's Grant Cardone, and I grew up in Louisiana, raised by a single mom, and proud to say I'm a self-made person.

00:08:53.000 Grinding for everything I have.

00:08:55.000 Some guy was in, I'm in Beverly Hills today working on this, you know, bring sanity back to the state of California.

00:09:03.000 And the guy stops me this morning.

00:09:04.000 He's like, bro, man, like, oh, man, your story is so inspiring to me.

00:09:08.000 He's like, what's the worst thing that ever happened to you?

00:09:10.000 I said, the worst thing that ever happened to me is what I did to myself.

00:09:16.000 Because that's what I did.

00:09:17.000 I messed up my own damn life.

00:09:19.000 And then at 25, I decided to get it together.

00:09:24.000 And so I've been working for the last 45 years trying to figure out my money and my family and my spirituality and my purpose and my connection to God and, you know, what am I here to do and how can I make a difference?

00:09:38.000 How can I have fun?

00:09:39.000 You know, how can I, you know, I'm just doing what everybody else does.

00:09:43.000 I got a little money.

00:09:45.000 I'm like, how do I get a little more money?

00:09:47.000 Then I'm like, okay, I got a lot of money.

00:09:49.000 And then I'm like, okay, I don't want to lose the money.

00:09:52.000 Because I know a lot of dumbasses that make it and lose it all.

00:09:56.000 And along the way, I'm sorry to interrupt you, but along the way, Fresh, I've been documenting what worked and what didn't work.

00:10:02.000 And at heart, I lost my dad when I was 10 years old and I wanted somebody to help me.

00:10:08.000 And I think my purpose in life, I mean, I know my purpose in life is to help other people because I wanted that help so bad and nobody came along.

00:10:16.000 I didn't get it from the schools.

00:10:18.000 I didn't get it from college.

00:10:19.000 I didn't get it from my uncles.

00:10:21.000 I got it from the drug dealer.

00:10:22.000 He was willing to help me.

00:10:23.000 He's like, I'll help you.

00:10:26.000 But, you know, I've been...

00:10:28.000 Anytime I do something that works, dude, I tell people about it.

00:10:31.000 Like, hey, guys, I just did this and it worked.

00:10:34.000 I get excited to share information with other people.

00:10:37.000 And that's built me a fairly large audience online.

00:10:41.000 And I'm very opinionated.

00:10:43.000 Once I find something that works, I'm like, bro, this shit works.

00:10:46.000 Okay? Like, I'm telling you, do it this way.

00:10:49.000 And then that tends to be a bit, what's the word?

00:10:55.000 Polarizing. Because I bought a single family home when I was 28. And like four months later, I'm like, that's stupid.

00:11:03.000 That was dumb.

00:11:05.000 And when I make that statement, I make it just like that too.

00:11:08.000 I'm like, stupid buying a single family house.

00:11:10.000 This is what you should be doing.

00:11:12.000 And then people get polarized and they're like, Grant Cardone's an idiot.

00:11:15.000 Grant Cardone don't know what he's talking about.

00:11:17.000 Grant Cardone's trying to turn everybody into renters.

00:11:19.000 We have 15,000 rentals now, and I'm just telling you, 15,000 rentals is better than one house.

00:11:24.000 Yeah. No, and I think, you know, that's definitely one of the things that's gotten you viral when you say that buying a single-family home is stupid.

00:11:31.000 I think you've criticized, you know, Roth IRAs or what is it?

00:11:36.000 No, retirement accounts.

00:11:37.000 Yeah, the IRAs, 401Ks.

00:11:39.000 You probably saw the Vlad interview, right?

00:11:41.000 Vlad's telling me he's got a bunch of money in IRAs, and I'm like, I'm sorry for you.

00:11:46.000 He's like, why are you sorry?

00:11:47.000 I said, because it's dumb, bro.

00:11:48.000 It's a scam.

00:11:49.000 Yeah. So Grant, this is a long time coming from back in the day as well.

00:11:55.000 Yeah. You guys are really grown up too, bro.

00:11:57.000 You guys are freaking rocking it.

00:11:59.000 Thanks, bro.

00:11:59.000 But just to your advice, man, buying a multifamily property when I first came to America, this was about, I want to say, seven years ago.

00:12:07.000 And what happened was, I bought a property back then, and it was for $330K.

00:12:13.000 Now, I put 3% down, FHA, lived in it for a year, moved out.

00:12:20.000 $780k. So that advice you gave to me, plus the cash flow, was incredible and life-changing.

00:12:25.000 So that alone was some really good advice.

00:12:27.000 And it was a smart choice, not a dumb choice.

00:12:29.000 Hey, what did you pay for that advice, by the way?

00:12:32.000 Zero. How much you make on it?

00:12:35.000 Well, actually, I didn't sell it yet, but I'm thinking of selling it.

00:12:39.000 Yeah, but how much equity do you have in it right now?

00:12:41.000 $180k or something?

00:12:42.000 No, $480k.

00:12:44.000 Yeah. Crazy.

00:12:46.000 But hold on, Grant.

00:12:47.000 And they only put in like 12K.

00:12:50.000 That is the thing I'm most proud about in my life is that I've helped a bunch of people.

00:12:54.000 I don't even know the stories of the people I helped.

00:12:57.000 And then I'll have opinions about things.

00:13:02.000 I try to help different communities.

00:13:04.000 Black are different than brown.

00:13:05.000 Brown is different than white.

00:13:07.000 Females are different than male.

00:13:08.000 15-year-old is different than 55-year-old.

00:13:11.000 The Chinese and Asians have different problems in the Jewish community.

00:13:15.000 And I try to bring this stuff to people's awareness, like, bro, this is happening.

00:13:22.000 And then when I do, everybody's like, oh my God, he's trying to pillage the black community.

00:13:27.000 I'm like, I didn't get any money from you for that advice, but I feel good about it because I know I did the right thing.

00:13:33.000 To whoever wants to listen and wants to employ it, you're going to make money, and money's in part.

00:13:40.000 Don't worry, Grant.

00:13:41.000 I'll give you a cut soon.

00:13:42.000 All right.

00:13:42.000 But listen, man.

00:13:43.000 I don't need a cut.

00:13:43.000 I'm good.

00:13:44.000 I'm good on the cut.

00:13:45.000 I'm kidding.

00:13:46.000 Let's figure out how to do it for 100x that.

00:13:49.000 Everyone watching, man.

00:13:50.000 But also, back in 2015, I did a show, actually, on a network.

00:13:56.000 It's called Whatever It Takes.

00:13:58.000 I got an email here.

00:13:59.000 Whatever It Takes is filming on March 30th.

00:14:01.000 And it's funny.

00:14:02.000 Today is March 31st.

00:14:04.000 So back in time real quick, if you don't mind.

00:14:07.000 Yeah, I got you.

00:14:09.000 A man, a great man told me to sell some water.

00:14:12.000 And I couldn't back then.

00:14:13.000 I couldn't even sell myself.

00:14:15.000 But I learned a very important lesson.

00:14:17.000 And we'll watch it here real quick on the show for you guys in real time.

00:14:21.000 Let's watch it real quick.

00:14:25.000 That was funny.

00:14:26.000 March 31st, man.

00:14:29.000 And what year?

00:14:30.000 This is, uh...

00:14:31.000 2015. Oh, wow.

00:14:33.000 Exactly almost 10 years ago.

00:14:34.000 10 years ago in one day.

00:14:36.000 Wow. Okay.

00:14:36.000 Yep. One day.

00:14:37.000 Here we go.

00:14:37.000 Talk about timing, man.

00:14:39.000 Wow. All right.

00:14:41.000 One set here, guys.

00:14:42.000 It should show.

00:14:44.000 Bill's got it.

00:14:46.000 Here we go.

00:14:47.000 It's like an OG clip from back in the day.

00:14:49.000 Oh, man.

00:14:50.000 Yeah, before he got banned on Instagram, I think this thing went viral, didn't it?

00:14:53.000 Yeah. It's had 20 million views, Grant.

00:14:56.000 Yeah. Wow.

00:14:57.000 And he got banned?

00:14:58.000 Yeah. Whoa.

00:14:59.000 It's a little bit more nuanced than what we're saying, but yeah.

00:15:02.000 We got banned for our political views, basically.

00:15:04.000 Go Trump.

00:15:05.000 That's what happened.

00:15:05.000 Go Trump.

00:15:06.000 It's all good though.

00:15:06.000 We got banned for our political views.

00:15:09.000 Here we go.

00:15:09.000 How much money did you make last month?

00:15:11.000 $120. $30 a week is what you made last month.

00:15:14.000 How much money did we make?

00:15:15.000 I'm in the 10X rule.

00:15:16.000 I really would like to make $100,000.

00:15:18.000 Why $100,000?

00:15:19.000 Done. You don't have whatever it takes.

00:15:21.000 Not this year.

00:15:21.000 Thank you.

00:15:22.000 Good luck to you, all right?

00:15:23.000 Thank you.

00:15:23.000 Good luck to you, man.

00:15:25.000 This is what every company in America is going through.

00:15:27.000 We get worn out looking at resumes, so we end up hiring Walter.

00:15:30.000 Ah, that's good.

00:15:35.000 Good luck to you.

00:15:45.000 How much money did you make last month?

00:15:46.000 $120. That was crazy, man.

00:15:48.000 So, you know, people take it as an L, but I take it as a W because back then, I wasn't ready for the world, man.

00:15:55.000 I was fresh.

00:15:56.000 I was green off the boat.

00:15:57.000 Fresh start.

00:15:58.000 And funny enough, a couple years later, now we're here.

00:16:01.000 Yeah, nah, man.

00:16:03.000 It's a great success story.

00:16:05.000 Obviously, I think Grant played a significant role in motivating you to not be a loser.

00:16:10.000 Rejection sometimes is the best teacher over success.

00:16:13.000 And I would argue, Grant, just real quick, to make this more of a palatable example, he's the Grant Cardone, I'm the Jerry Glant.

00:16:23.000 Okay. There you go.

00:16:24.000 So it worked out.

00:16:25.000 Yeah, I mean, Grant, I will say, because obviously I've watched a significant amount of your real estate content, I actually agree with you on the concept of the single family home.

00:16:34.000 You know, it can be an investment, but for most Americans, it's probably not going to be.

00:16:39.000 It's going to be detrimental versus like renting and buying something.

00:16:42.000 And I agree with you also on the 401k.

00:16:44.000 I remember when I left the government, you know, I depleted my 401k and used it to buy my first property.

00:16:48.000 And that's a way better decision than if I had just let it sit there.

00:16:52.000 So I agree with you on that.

00:16:53.000 I know that's like a controversial take for a lot of people, right?

00:16:55.000 The famous saying, who dares wins.

00:16:58.000 Can you, I guess, kind of go through with us?

00:17:00.000 Like, why do you think so many Americans are oblivious?

00:17:04.000 To the power of real estate, and they're so terrified of debt and acquiring real estate debt.

00:17:09.000 Well, because they've been indoctrinated.

00:17:11.000 Even the concept of financial illiteracy, you guys are told you're financially illiterate.

00:17:17.000 I mean, all of us.

00:17:18.000 We're sold this all the time.

00:17:20.000 You've got to go to college to get a good job.

00:17:22.000 That's bullshit.

00:17:22.000 You do not need to go to college to get a good job.

00:17:25.000 The best jobs in the next decade will be plumbers.

00:17:28.000 It won't even be AI, dude.

00:17:30.000 It's not going to be coders.

00:17:31.000 Shit. Robots are going to code themselves.

00:17:33.000 It's going to be plumbers.

00:17:34.000 It's going to be roofers.

00:17:36.000 It's going to be solar installations.

00:17:37.000 It's going to be people that can work with their hands and fix shit.

00:17:42.000 So, we've been indoctrinated to fund the banks.

00:17:48.000 And if people would get off of what your grandpa told you, or your dad, they were indoctrinated.

00:17:54.000 And they just pass on their indoctrination to you.

00:17:57.000 You know, like breakfast.

00:17:58.000 Why do we even eat breakfast?

00:17:59.000 We don't eat it.

00:18:00.000 It's probably not even good for you.

00:18:02.000 But you eat it because you were brought up to eat breakfast, and you're eating probably the same shit foods that you were brought up on.

00:18:08.000 Gary, Rebecca.

00:18:08.000 Yeah. So, oh, yeah, yeah, yeah, yeah.

00:18:13.000 Bless you.

00:18:14.000 So my point is, like, we were sold.

00:18:18.000 You cannot.

00:18:19.000 If you guys ever go to New York City, go to Goldman Sachs, J.P. Morgan, Morgan Stanley, Bank of America, walk in their buildings.

00:18:26.000 And understand, those buildings are built on selling you a story.

00:18:32.000 Save your money.

00:18:34.000 Save your money.

00:18:35.000 Wells Fargo, save your money.

00:18:37.000 Save your money with us.

00:18:39.000 We're right here for you.

00:18:40.000 We'll never lend you any money, but you save it.

00:18:43.000 You save it here, okay?

00:18:44.000 Well, number one, I'll just take a couple of these fallacies.

00:18:47.000 You cannot save money.

00:18:49.000 It is impossible to save money.

00:18:53.000 Because money is being printed as it is printed.

00:18:56.000 It depletes the value that it can purchase in that way.

00:18:59.000 It's not being saved.

00:19:01.000 So a million dollars today that you have, that you had in 2020, it's going to say a million dollars in the bank account, but it's not the same million because it won't buy the million.

00:19:10.000 Number two, buy a house.

00:19:13.000 For you to buy a house, where are you going to get a mortgage?

00:19:16.000 Bank of America, Fannie Mae, Freddie Mac, Wells Fargo.

00:19:20.000 These are trillion-dollar companies, folks.

00:19:22.000 They made trillions of dollars selling you this bullshit.

00:19:25.000 Hey, put your money in the retirement account.

00:19:27.000 You need to start when you're young.

00:19:28.000 Put a little bit of your check in every month.

00:19:31.000 You'll get it back when you're 72. Oh, by the way, you're forced to get it back.

00:19:35.000 Forced. You have to take it at 72 when the taxes are going to be three times higher.

00:19:42.000 So these are myths, man.

00:19:43.000 These are myths.

00:19:45.000 They're big scams, and they create trillion-dollar companies.

00:19:48.000 Wells Fargo has almost $3 trillion under management.

00:19:51.000 Merrill Lynch, $7 trillion.

00:19:53.000 Vanguard, $11 trillion.

00:19:56.000 Do you guys understand how big these numbers are?

00:19:58.000 To get numbers that big, you have to brainwash a majority of the public to believe what they're doing is right.

00:20:06.000 Grant, let me ask you this.

00:20:07.000 What I'll do is, because I really want to get your take on this, right?

00:20:10.000 I'm going to give you, name multiple asset classes, and I want you to kind of give us your raw, you know, unedited take on each asset class, why it's good, why it's bad.

00:20:19.000 I like that.

00:20:20.000 Because, yeah, I've always wanted to ask you this.

00:20:22.000 I haven't gotten a chance to ask.

00:20:23.000 So I'll start with precious metals.

00:20:25.000 What are your thoughts on precious metals?

00:20:26.000 Good, bad, ugly?

00:20:27.000 I don't like them because the only way to make money from them is to sell them.

00:20:33.000 Okay. Any positives you would say?

00:20:36.000 It provides no income.

00:20:39.000 It costs money to store.

00:20:43.000 It can only appreciate.

00:20:44.000 The only way I get the appreciation back is to sell it.

00:20:47.000 That means I got to go buy something else.

00:20:49.000 And there's no tax write-offs.

00:20:50.000 I hate it.

00:20:51.000 Okay. So do you hold any yourself or completely?

00:20:55.000 No, zero.

00:20:56.000 I mean, if there's anything in this watch.

00:21:01.000 This is a stupid investment, by the way.

00:21:03.000 Completely ridiculous.

00:21:05.000 Anybody who tells you guys that jewelry is an investment, I don't care if it's a Paddock, a Richard, a Rolex, it's bullshit.

00:21:11.000 It's a watch.

00:21:13.000 Don't call it any more than it is.

00:21:15.000 It's a fucking watch that you don't even need, by the way.

00:21:18.000 I agree with that.

00:21:20.000 What are your thoughts on...

00:21:20.000 The supercars.

00:21:21.000 The supercars.

00:21:22.000 Those are not investments.

00:21:24.000 Wait a minute.

00:21:24.000 They're fucking cars.

00:21:25.000 Wait a minute, Grant.

00:21:26.000 I like cars, man.

00:21:27.000 Come on, bro.

00:21:28.000 I agree with that.

00:21:28.000 No, you do, bro.

00:21:29.000 You're buying cars and I'm buying jets.

00:21:32.000 Damn. Okay.

00:21:34.000 Talk your shit, Grant.

00:21:36.000 Yeah, I agree with you on the supercar thing.

00:21:37.000 Let me ask you this then.

00:21:38.000 What about when it comes...

00:21:39.000 Because you said you don't like the watch game.

00:21:44.000 What about if you're buying plain Janes, things that hold value, etc.?

00:21:48.000 Do you think that's a bit more viable, or are you still kind of on the fuck watches?

00:21:51.000 They don't provide income.

00:21:52.000 You can't write them off, okay?

00:21:55.000 They're stupid.

00:21:56.000 You're going to sell them when you need money, and you're going to need money.

00:21:59.000 You're going to go sell it.

00:21:59.000 Oh, if I need my money, I'm going to sell my watch.

00:22:01.000 When you need money, ain't nobody's going to give you any money for your watch.

00:22:04.000 Okay. Let's get into stock market.

00:22:08.000 Okay. What are your thoughts on investing in the stock market?

00:22:10.000 Good. I want to sell to the stock market.

00:22:13.000 I don't want to buy from it.

00:22:15.000 Gotcha. The people making all the money in the stock market are the people selling into it.

00:22:22.000 I build a company, I take it to the marketplace, and I turn it into a piece of paper.

00:22:26.000 Go public with it.

00:22:27.000 Yeah, go public with it.

00:22:28.000 I'm going to go public with a company this year.

00:22:30.000 But me going out and buying stocks, unless I have some insider information, if I'm Nancy Pelosi, I love the stock market.

00:22:36.000 Yo, don't, DeMarco.

00:22:38.000 I can't lose it.

00:22:40.000 I can't lose because I got insider information.

00:22:42.000 Yeah, okay.

00:22:43.000 Good point.

00:22:43.000 So, stocks?

00:22:44.000 Widely useless unless you got insider information.

00:22:46.000 Fair. Look, can I just say this on stocks?

00:22:49.000 There's only seven stocks that have moved the market in the last two or three years.

00:22:55.000 Like, if you have an IRA or 401k and you have $100,000 and you're going to put $100,000 to an IRA, they're never going to invest in the seven stocks, which is the seven you should have been in for the last three or four years.

00:23:08.000 The rest of them are shit.

00:23:09.000 What are those seven?

00:23:10.000 You guys know a stock makes it into the S&P 500.

00:23:14.000 If it doesn't perform well, they literally remove it from the S&P 500 so they don't have to report about it.

00:23:21.000 Wow. What are those seven that you said are the only ones worth it?

00:23:25.000 The FANG stocks.

00:23:26.000 Facebook, Amazon, Netflix, Google.

00:23:30.000 You could add Tesla to that probably.

00:23:33.000 But again, I bought Facebook.

00:23:37.000 I had some Facebook, and then I bought it at $38.

00:23:40.000 It went to $19.

00:23:41.000 I'm like, fuck, I don't need to do this shit.

00:23:43.000 This is crazy.

00:23:44.000 Today it's worth like $500.

00:23:46.000 It's great.

00:23:47.000 I should have bought it.

00:23:48.000 I should have kept it.

00:23:49.000 But I should have bought a shitload of it.

00:23:52.000 Gotcha. So would you say that- Because if you only buy one share, right?

00:23:55.000 That means $19 became $500.

00:23:58.000 Okay, big deal.

00:23:59.000 But you had to go through all this volatility in the meantime, and you still only have a $500 score.

00:24:04.000 My point is, if you don't know enough about the company, you're not going to load up on it.

00:24:09.000 Okay? The stock market is like this massive casino.

00:24:11.000 You walk into the Bellagio or the MGM, and you place the bet on every table, every slot machine.

00:24:19.000 Every blackjack table, every roulette wheel, you're going to go broke.

00:24:24.000 Okay. The casinos are worried about the people that make one bet, one giant bet.

00:24:31.000 That's why they cap the bet.

00:24:33.000 Because the whales can break a casino, and little players never can.

00:24:37.000 And most of the little players in the stock market actually never make any real money.

00:24:42.000 Also, it doesn't cash flow, for the most part.

00:24:44.000 You can't write off the investment, okay?

00:24:48.000 You can't touch it, okay?

00:24:50.000 You're completely, you're not in charge of the direction of it.

00:24:56.000 And most of the stocks actually don't even, if you didn't have inflation in the marketplace, you wouldn't even have any stock gains for the last decade.

00:25:06.000 Okay, would you say that, has the ship almost sailed pretty much on these seven stocks at this point that you mentioned?

00:25:14.000 Would it be fair to say it's a little too high to get into now?

00:25:17.000 Well, I mean, look, the average company in America today, when I was growing up, lasted 73 years or something.

00:25:25.000 Today, the average company in America lasts seven years.

00:25:29.000 If you guys think that Apple is going to be around 30 years from now, maybe, but I'll bet you something comes and takes it out.

00:25:36.000 So you're not in control of these companies, right?

00:25:39.000 They can be, you remember BlackBerry?

00:25:41.000 Yeah. Nobody has one.

00:25:43.000 Yeah. It's still a stock.

00:25:45.000 It's a piece of shit.

00:25:46.000 Y'all remember Beyond Meat?

00:25:49.000 Beyond Meat went to like, I think, I don't know, some stupid $700.

00:25:54.000 It's $18 today.

00:25:55.000 Damn. See, but the marketplace is not going to tell you all that.

00:25:59.000 They're not going to tell you, bro, look at the damage.

00:26:01.000 Okay? They're going to show you the winners.

00:26:04.000 It's like when you get to Vegas.

00:26:05.000 You get to Vegas, you get off the plane, you're coming down the escalator, and there's a big sign of Rose and Fred won $1 million, and they look like idiots, okay?

00:26:14.000 Two white people, dumb as shit.

00:26:16.000 You can tell they're like, dumb.

00:26:17.000 They won $1 million at the MGM, and you think, oh, shit, I'm going to go there and win money.

00:26:22.000 You ain't going to win any money, man.

00:26:24.000 Yeah, they show you the winners and never the losers.

00:26:27.000 Well, okay.

00:26:28.000 So how about this?

00:26:29.000 So we went over stocks.

00:26:30.000 I got to ask this one too, then we're going to get into cryptocurrency.

00:26:33.000 What are your thoughts on REITs since we're on the topic of the stock market?

00:26:38.000 You know, the closer you can get to the real estate as an asset, the better.

00:26:46.000 Let's say the Grant Cardone, by the way, this is going to happen.

00:26:51.000 Let's say I put together a fund of 10 deals and then read them up and all the people that invested with me, Get to become part of that REIT.

00:27:00.000 That's where you want to be in the REIT.

00:27:02.000 Okay. So you got to be in a...

00:27:04.000 Now imagine this.

00:27:05.000 Imagine this.

00:27:06.000 I take real estate.

00:27:08.000 I take...

00:27:09.000 This is the real estate.

00:27:10.000 Let's say $80 million of real estate.

00:27:12.000 And I add $20 million of Bitcoin.

00:27:16.000 And I put them together.

00:27:17.000 I pay cash for it all.

00:27:19.000 I trade fiat for these two.

00:27:21.000 The real estate cash flows, the Bitcoin does.

00:27:24.000 The real estate's very volatile, right?

00:27:26.000 It's going boom, boom, boom.

00:27:27.000 It's doing all this crazy shit.

00:27:28.000 This is stable, stable.

00:27:30.000 Apple a day keeps the bank away, okay?

00:27:33.000 And these two are sitting together.

00:27:35.000 And then five years from now, six years from now, seven years, we know the real estate, if it was bought in the right place at the right time, is going to go up in value.

00:27:42.000 And there's a damn good chance that Bitcoin could be worth millions of dollars of Bitcoin.

00:27:49.000 The beautiful thing is every month, every month, when this thing cash flows, this doesn't cash flow, this does.

00:27:55.000 When the Apple cash flows, we buy more Bitcoin out of the cash flow.

00:28:00.000 We literally didn't buy the Bitcoin ourselves.

00:28:04.000 Okay. So you're saying you buy the real estate and you can combine it with the crypto?

00:28:10.000 I buy the real estate.

00:28:11.000 I buy the real estate.

00:28:12.000 I wish I had a better demo, but I buy the real estate.

00:28:14.000 I pay cash for it.

00:28:15.000 Yep. I need to buy a piece of real estate.

00:28:18.000 That's basically, it was worth these two together, and I got a deal on it, and I paid just for the apple.

00:28:27.000 Okay. Okay?

00:28:29.000 Then I add back what I robbed from the seller, because you can steal real estate today.

00:28:34.000 I am absolutely stealing.

00:28:36.000 I should be, what I did last year, I should be arrested and thrown into Gitmo.

00:28:42.000 That's how deep the freaking steel was.

00:28:45.000 About $700 million worth of real estate is worth about a billion one.

00:28:49.000 Gotcha. The dollars had to sell, okay?

00:28:52.000 So I just bought a deal.

00:28:53.000 We bought a deal for $72 million.

00:28:55.000 It should have sold for $85 million.

00:28:56.000 So I capped it back off to $85 million with the Bitcoin.

00:29:01.000 Got it.

00:29:02.000 So you made a REIT.

00:29:04.000 And you put the- No, no, no.

00:29:05.000 We kept it as a fund, separate individual fund.

00:29:08.000 Okay. It's never been done before, by the way.

00:29:10.000 This is the first of its kind on Planet Earth.

00:29:11.000 Yeah, I've never heard of this.

00:29:12.000 Okay. And it's at, what's the website?

00:29:16.000 Cardonecapital.com.

00:29:17.000 You can see the exact thing we did there.

00:29:19.000 So we bought the real estate, paid cash, bought the Bitcoin.

00:29:22.000 I just figured out the difference between what I paid for the real estate and what it should have sold for.

00:29:27.000 And I filled that up with a purchase of Bitcoin.

00:29:29.000 Put the two together in a fund.

00:29:31.000 Offered it to my audience for the same price I paid for the two.

00:29:35.000 Said, hey guys, you want this?

00:29:37.000 Sold out the fund.

00:29:39.000 What was it?

00:29:42.000 $88.1 million.

00:29:44.000 Sold out in 35, 45 days.

00:29:48.000 Damn. We take that fund.

00:29:49.000 We close it.

00:29:50.000 Now that fund, because we paid cash for it, we don't use any banks.

00:29:54.000 So this is about 100 people that own this deal together.

00:29:57.000 We're partners.

00:29:58.000 We're all partners in a deal.

00:29:59.000 Whatever amount of money they put in makes their percentage partnership.

00:30:03.000 I bought the first one.

00:30:04.000 I'm going to do 10 more of these.

00:30:05.000 I'm going to take all 10 of these.

00:30:08.000 I'm going to wrap it into a super fund and then bring it to the public markets and offer a REIT.

00:30:15.000 Okay. So I guess that perfectly dovetails the next question.

00:30:19.000 Cryptocurrency. What are your thoughts on it?

00:30:20.000 Good, bad, ugly?

00:30:22.000 You know, I love it if I can get it for nothing, man.

00:30:25.000 Okay. I mean, if you'll give me the Bitcoin, I'll take it.

00:30:30.000 Gotcha. And I figured out how not to pay for my Bitcoin.

00:30:35.000 I'm getting my residents of 300 units to buy Bitcoin for our investors.

00:30:42.000 Can you describe that a little bit?

00:30:44.000 The rental income comes in on the 1st to the 5th.

00:30:47.000 Whatever's left over at expenses, we buy Bitcoin with that cash.

00:30:51.000 Gotcha. Okay.

00:30:52.000 So the residents are paying for the taxes.

00:30:55.000 The residents are paying for the interest on the loan, if I have a loan.

00:30:58.000 The residents are paying for the maintenance, the electric bill, the water bill, the gas bill, and they're buying Bitcoin because I cash flow positive.

00:31:07.000 Okay. So I'm assuming you probably have like a portfolio dedicated where...

00:31:12.000 Every house that cash flows in this box of houses in this portfolio automatically gets reinvested back into crypto, and then you might have another fund where all that cash flow comes to you, I'm assuming, right?

00:31:23.000 Do you have something like that?

00:31:24.000 It comes to, not to me, it comes to an account, and then that money sits in that real estate account.

00:31:29.000 Okay. And then I'm in charge to go buy Bitcoin that month and store that with a fiduciary.

00:31:35.000 Now, my investors now own, at the four-year mark, Let's say the real estate was $85 million, okay?

00:31:44.000 And let's say the real estate didn't go up.

00:31:47.000 In year four, I still have $85 million of real estate.

00:31:50.000 It never moved.

00:31:51.000 The rents didn't go up.

00:31:52.000 The market was bad.

00:31:54.000 It just stayed at $85 million.

00:31:55.000 The real estate's not going down.

00:31:59.000 I have time.

00:32:00.000 I have no debt, so I have no pressure to sell.

00:32:03.000 But in those four years, I ended up with $30 million worth, about $29 million worth of Bitcoin that I didn't pay for.

00:32:10.000 Got you.

00:32:10.000 So I could sell the real estate, return all the money to the investors, and we own $29 million of Bitcoin at today's prices.

00:32:18.000 I don't know what it's going to be worth in four or five years.

00:32:20.000 You don't.

00:32:21.000 Nobody knows.

00:32:22.000 Michael Saylor thinks it's going to be worth like $6 million a coin.

00:32:28.000 Wow. Okay.

00:32:29.000 And that's the place.

00:32:30.000 So what I'm doing is I'm getting volatility.

00:32:31.000 Now, look, I didn't start doing this.

00:32:33.000 I'm not suggesting people buy Bitcoin.

00:32:36.000 You guys should buy real estate.

00:32:38.000 And let the cash flow buy your Bitcoin.

00:32:40.000 Gotcha. Okay.

00:32:41.000 So the key takeaway here is you're not taking earned income and purchasing volatile asset classes like cryptocurrency.

00:32:47.000 You're taking positive cash flow to buy cryptocurrency.

00:32:50.000 That's right.

00:32:52.000 And by the way, if you need cash flow to live right now, don't convert the cash flow to Bitcoin.

00:32:58.000 Convert. You've got to step back a second.

00:33:01.000 Live below your means.

00:33:04.000 Way below your means.

00:33:05.000 I live so far below my means.

00:33:07.000 I know a lot of people think that I have this fancy lifestyle.

00:33:10.000 I watch every penny I spend, guys.

00:33:12.000 Every penny.

00:33:14.000 And I'm just telling you, because I know every penny that I say, every penny that I don't waste, I can invest in something that will become worth something in the future.

00:33:24.000 Worth more than a penny, certainly.

00:33:27.000 Gotcha. So Grant, real quick, let's say Bitcoin is $82K right now, right?

00:33:31.000 Let's say it was maybe $5K.

00:33:33.000 You wouldn't buy it with the fiat cash?

00:33:35.000 If it went to $5,000?

00:33:36.000 Yeah, you wouldn't buy it?

00:33:38.000 Well, yeah, I'm going to be able to buy more.

00:33:40.000 I'm still...

00:33:41.000 Look, I'm going to have $350,000 of free cash flow from that property in the next 15 days.

00:33:52.000 Bitcoin goes to $4,000.

00:33:54.000 We're just buying more Bitcoin.

00:33:55.000 No, I'm saying, like, with hard-earned cash.

00:33:56.000 Not with the tenants paying.

00:33:58.000 I mean, just your money.

00:33:59.000 I wouldn't.

00:34:01.000 No, why would I?

00:34:02.000 Let me ask you something.

00:34:03.000 Would you buy Bitcoin, or would you rather me buy you Bitcoin?

00:34:08.000 I'd rather buy it.

00:34:12.000 Okay, I'd rather you buy my Bitcoin.

00:34:14.000 I think, okay, I see what he's asking basically is, let's say there was a shift in the marketplace where an opportunity presented itself, where the Bitcoin dropped to a very low rate.

00:34:25.000 Would you take earned income that you normally wouldn't otherwise do and take it by that Bitcoin?

00:34:30.000 I would not do that today.

00:34:31.000 I wouldn't do it today because most people cannot handle the volatility of the Bitcoin.

00:34:37.000 Gotcha. So you wouldn't change your position.

00:34:39.000 Like, no matter what, only cash flow is buying Bitcoin.

00:34:41.000 I don't care if it drops to 5K.

00:34:43.000 I'm not going to deviate from my established strategy of passive income purchases and stuff.

00:34:47.000 That's what I think Fresh was asking.

00:34:48.000 On the come up.

00:34:49.000 On the come up.

00:34:50.000 All my advice is for people on the come up.

00:34:52.000 Okay. There you go.

00:34:53.000 You're sitting with $165 million today?

00:34:57.000 I know somebody on this call that is.

00:34:59.000 Uh-huh.

00:35:01.000 In one account.

00:35:02.000 Then, okay, if I want to fucking put $16 million into Bitcoin today or...

00:35:06.000 Gamble on Solana and Carvana and Donna and Danny and Boo Boo and fucking monkey face.

00:35:17.000 Then fucking do it.

00:35:18.000 But goddamn, you're already in a place where you can't break, right?

00:35:21.000 Most people that are making moves right now, they're going to go into the crypto space.

00:35:26.000 They're going to study one thing.

00:35:27.000 They're not going to know shit about it.

00:35:29.000 And the next thing you're going to know, guys talking about Ripple, XRP.

00:35:32.000 You know, he's going to start.

00:35:33.000 Playing in all this shit, bro.

00:35:35.000 You're back in a casino.

00:35:36.000 Gotcha. You want to make giant bets.

00:35:39.000 You want to make giant bets.

00:35:40.000 When you make a bet, you want to make a giant bet.

00:35:42.000 And the only way you can do that is to have certainty of no loss.

00:35:46.000 And the only investment on planet Earth that cash flows, provides tax write-offs, and as long as you don't over-leverage it, you're not going to lose it.

00:35:57.000 There's only one investment on planet Earth that hits all three criteria.

00:36:01.000 And you guys know which one it is.

00:36:03.000 Oh yeah.

00:36:04.000 No, it's my favorite too.

00:36:06.000 But no, I think that what Fresh was asking, like I said, if like an opportunity to present itself.

00:36:10.000 But you're saying like, no, I'm not deviating from the strategy because it just doesn't make sense.

00:36:14.000 Like I'd rather put that money into something.

00:36:15.000 Until you're at a point where you can deviate from any strategy because it's not going to make a difference.

00:36:19.000 Gotcha. Okay.

00:36:21.000 So we talked about cryptocurrency and these other asset classes.

00:36:24.000 Index funds, I guess I'd lump that in with the stock market as well.

00:36:27.000 S&P 500 or total market index, you'd lump that in with the REITs and the stock market.

00:36:31.000 If you're doing the index funds, you don't know what you're doing.

00:36:33.000 You know you don't know what you're doing.

00:36:35.000 Warren Buffett says to invest in the index funds.

00:36:38.000 He don't.

00:36:40.000 He don't do it.

00:36:41.000 Don't do what people say.

00:36:42.000 Do what they do.

00:36:44.000 Gotcha. I'm just telling you guys what I do.

00:36:46.000 This is my playbook.

00:36:47.000 I said it before we started today.

00:36:48.000 I just do what I do, and I believe in it.

00:36:50.000 If I didn't believe in it, I wouldn't do it.

00:36:52.000 Right. Look, I used drugs for nine years of my life.

00:36:55.000 I would tell everybody, don't do that shit.

00:36:58.000 And then people were like, oh yeah, but that made you who you are today.

00:37:01.000 That was stupid.

00:37:01.000 No, I didn't.

00:37:02.000 That set me back nine years.

00:37:06.000 Let me ask you this, Grant.

00:37:07.000 I'd be better if I didn't waste that nine years.

00:37:12.000 Yeah. Let me ask you this then.

00:37:15.000 The real estate market, right?

00:37:18.000 Obviously, during the pandemic, 2020, 2021, the real estate market was hot.

00:37:23.000 It was going crazy.

00:37:24.000 Interest rates were the lowest we've ever seen for a long time.

00:37:26.000 We're talking sub-3% interest rates, wild time, right?

00:37:30.000 And I try to buy up as many houses as I could during that period of time.

00:37:33.000 But we've seen interest rates continuously go up and up and up, and I think we're sitting somewhere between 7-8% right now at the moment for investors.

00:37:42.000 What are your thoughts on the real estate market now?

00:37:44.000 Yeah. How should people move?

00:37:46.000 I know you had mentioned that you had gotten some deals that you were able to steal, basically.

00:37:49.000 I actually closed my first commercial deal not too long ago, thanks to you, some advice that you gave.

00:37:54.000 So, how should people navigate the real estate market on the residential side and the commercial side, given the current climate with higher interest rates than before?

00:38:03.000 Yeah, great question.

00:38:04.000 They're completely different, by the way.

00:38:06.000 I'm glad to know that you understand they're different.

00:38:08.000 Most people think real estate, they think single-family homes.

00:38:12.000 There's no deals to be had in single-family homes.

00:38:15.000 That is not where the carnage is.

00:38:18.000 Okay, real estate, you can literally take the line of real estate and track the line and watch what interest rates do to real estate.

00:38:26.000 The only thing that drops the value of real estate is debt.

00:38:30.000 There's never a housing crisis without first having a debt crisis.

00:38:35.000 Never. In the history of real estate, you never have a real estate crisis until you have a debt crisis.

00:38:42.000 1995, 2001, 2008, those are debt crises that are called housing crises.

00:38:50.000 There's no housing crisis.

00:38:53.000 70% of all the loans on single-family homes today in America are under 4%.

00:38:58.000 You don't have any sellers, man.

00:39:01.000 You don't have any sellers with urgency.

00:39:04.000 So to get a deal, you need a seller that's got a gun to his head.

00:39:08.000 Now, where's that?

00:39:09.000 It's all in apartments, hotels, industrial, office buildings.

00:39:15.000 I think I said office.

00:39:17.000 And it's a bunch of it's an apartment.

00:39:19.000 There's $2.7 trillion worth of debt that's due in the next about 30 months.

00:39:24.000 And most of it's sitting in apartments.

00:39:26.000 Los Angeles, San Diego, San Francisco, Austin, Texas, Dallas, Houston, Miami, Nashville, Atlanta.

00:39:34.000 I'm telling you guys the playbook.

00:39:35.000 I'm giving you exactly where I'm at.

00:39:37.000 The Carolinas, North and South, okay?

00:39:41.000 Like, all up and down the East Coast.

00:39:43.000 Miami, Fort Lauderdale, Tampa.

00:39:45.000 Like, there's no shortage of this shit.

00:39:47.000 I'm going to get so rich in this cycle, it's going to be stupid, ridiculous, crazy.

00:39:51.000 And anybody can do exactly what I'm doing.

00:39:54.000 I have my whole playbook laid out.

00:39:56.000 I can't buy all this real estate.

00:39:59.000 And I'm just telling you, the playbook is to find anything that was bought in the years you mentioned, 2021 and 22. Find someone, their debt's up.

00:40:11.000 Now, it's been four years now.

00:40:12.000 Maybe, what is it, three years.

00:40:15.000 The debt is due now.

00:40:15.000 It's been three years.

00:40:17.000 They probably had a three-year debt.

00:40:18.000 The debt's due.

00:40:20.000 And because interest rates went up, The property value or the debt that it will support went down.

00:40:27.000 These things work inversely.

00:40:29.000 So the debt interest payments went up and the loan the next buyer could get went down.

00:40:34.000 And if the loan goes down, the value of the property will go down.

00:40:39.000 So that's where the steels are right now.

00:40:41.000 They're in large complexes.

00:40:43.000 The bigger you could go, the better.

00:40:46.000 What you're really looking for is not even...

00:40:48.000 I'll just give you another little hack here.

00:40:52.000 Look for something three years old or better than that.

00:40:55.000 Look for something, look for an institution that has a lot of real estate, lots, like hundreds of thousands or 50,000 units.

00:41:08.000 And they bought, let's say they bought a third of their portfolio was bought in the last three to four years.

00:41:15.000 Look for the next level of all the purchases in their portfolio, something that's 10 years old.

00:41:21.000 Not three years old.

00:41:23.000 Because they still have equity in those.

00:41:26.000 Okay. They can't sell the newer stuff because they're going to take a loss and they don't want to report a loss to their investors.

00:41:34.000 So they'll go to the tranche underneath it that was bought back in 2000.

00:41:41.000 2015. And they're going to sell that tranche.

00:41:46.000 Okay. You said a lot of...

00:41:49.000 Really important stuff there that I kind of want to unpack for the audience who might not be as real estate savvy.

00:41:54.000 So in this world, there's residential chat, and then that's, you know, four units are below, and then there's commercial.

00:42:00.000 And Grant, correct me if I'm wrong here.

00:42:02.000 I'm just going to try to summarize what you said.

00:42:04.000 Basically, you're saying the residential game might not be worth it because 70% of these single-family homes have an interest rate of below 4%, so they're not selling.

00:42:13.000 The impetus for them to sell is not there.

00:42:14.000 They're going to list.

00:42:15.000 I'm sorry to interrupt you, but they're going to list their property.

00:42:17.000 You're going to see all this.

00:42:18.000 The number of listings in Florida has exploded.

00:42:21.000 Well, yeah.

00:42:22.000 And? Okay.

00:42:25.000 It doesn't mean, bro, anybody sold anything, and it definitely doesn't mean anybody dropped the price.

00:42:31.000 Okay. So the pressure for them to sell isn't there.

00:42:34.000 But what you're saying on the commercial side, that pressure's there because a lot of these guys got...

00:42:39.000 Unorthodox loans.

00:42:40.000 Hey, your loan is due, and bro, we've already talked about this shit.

00:42:45.000 We already talked about it last month, talked about it the month before that, we talked about it three months ago.

00:42:50.000 The loan is due, and the committee wants it paid off now.

00:42:55.000 And they're like, oh, okay, let me see if I can pay it off.

00:42:58.000 And they owe, let's say, $80 million.

00:43:01.000 Okay, they took a loan out for $80 million at 3%.

00:43:03.000 Now that loan's $80 million at 7%.

00:43:08.000 The difference in those four points is going to drop the value of the new loan, and they don't have the money, bro.

00:43:14.000 I'm talking about the biggest companies on planet Earth, the biggest institutions in the world.

00:43:19.000 BlackRock. The wealthiest groups on planet Earth.

00:43:23.000 You said one of them.

00:43:24.000 I can't say their names.

00:43:26.000 Okay? I can say BlueRock.

00:43:30.000 I can say Twinklewood.

00:43:36.000 But I can't.

00:43:37.000 I can say Brownsacks.

00:43:41.000 You're at Rumble!

00:43:43.000 We're rumbling.

00:43:44.000 Let's go.

00:43:45.000 So, just to make sure I understand.

00:43:47.000 So, okay.

00:43:47.000 So, on the commercial side, so residential's out.

00:43:50.000 For you, on the commercial side, a lot of these people that get these loans, they got adjustable rate mortgages, which comes due in three, seven, five years.

00:43:56.000 So, the bank is saying, hey, we lent you this money.

00:43:58.000 You need to pay off the full property now.

00:44:00.000 And they're saying, damn, I don't got the money.

00:44:02.000 So, it puts them in a rock and a hard place to sell.

00:44:04.000 And then that's where you come in and purchase.

00:44:07.000 That's where we come in and buy.

00:44:08.000 Like, Canada's got a housing problem, okay?

00:44:11.000 Canada has all their money.

00:44:13.000 On three-year terms.

00:44:15.000 Hang on one second.

00:44:16.000 Yeah, yeah.

00:44:19.000 That's some sauce.

00:44:20.000 Holy shit!

00:44:21.000 That's why I had to unpack it again for them because commercial...

00:44:24.000 And Chad, the other thing I want to let you guys know, right, when it comes to commercial versus residential, and I can tell you guys this from the big difference I saw.

00:44:32.000 When you're doing the commercial stuff, they look at the property and how much money it generates versus...

00:44:38.000 The lendee.

00:44:40.000 But when you do residential, they look at you and your profile.

00:44:43.000 So when you go into the commercial game, yeah, you might need a little bit more money to get in, but they don't scrutinize you as hard as the property.

00:44:49.000 Because the property is what they look at.

00:44:50.000 Versus in residential, they care more about your credit score, how much money you have, down payment, whatever.

00:44:54.000 So that's why you're able to kind of make some more moves with the commercial stuff, like what Grant is saying.

00:44:59.000 Also, you made a very good point.

00:45:01.000 You're making a good point.

00:45:01.000 I'm sorry, go ahead.

00:45:02.000 No, no, just out to your point.

00:45:03.000 You mentioned people are listing properties on Zillow.

00:45:06.000 For example, just to list her, but they're not selling because, again, they just want to see how much they can get for the property.

00:45:10.000 They're trolling, bro.

00:45:11.000 They're trolling.

00:45:12.000 They're trolling, yeah.

00:45:13.000 Okay. Hot chick goes to the bar, dresses up, spends an hour and a half getting there.

00:45:18.000 Doesn't mean you're going home with her, bro.

00:45:20.000 She could just be trolling.

00:45:21.000 Let me ask you this, Grant, because I'm sure people give you a lot of heat because you rally against the single-family home theory.

00:45:28.000 You think it's a waste of time.

00:45:29.000 What would you say?

00:45:30.000 I rally against anything that hurts people.

00:45:33.000 Gotcha. I'm the common man.

00:45:35.000 I mean, I say this to people like, you ain't the common man.

00:45:38.000 Okay, but that's where I came from, bro.

00:45:39.000 I came from the bayous, Louisiana.

00:45:42.000 And I'm a very simple person.

00:45:46.000 And look, nobody has to take my advice.

00:45:48.000 Shit's free, so you don't even have to listen to it.

00:45:50.000 I'm just telling you how I stack mine.

00:45:53.000 And it's undeniable that I did something right.

00:45:56.000 I did it without banks, without the government, without sponsors.

00:46:00.000 I have no sponsors on any shit we do.

00:46:02.000 Nobody. So let me ask you this, Grant, real quick.

00:46:06.000 So I know you can't mention the company, but let's say, you know, Black, and then you guys know what the ends are with there.

00:46:11.000 From what I've understood, they've been buying single-family homes for the better part of the last five years, almost exclusively.

00:46:16.000 They've been going crazy buying single-family homes, right?

00:46:19.000 But you say, hey, don't waste your time on single-family homes.

00:46:22.000 What would you say to a critic that might tell you, well, this big holding company is buying single-family homes.

00:46:27.000 Why don't you follow what they're doing versus listening to Grant?

00:46:29.000 What would you say?

00:46:30.000 Because they're not buying.

00:46:32.000 One single family home at a time.

00:46:34.000 They're buying companies that already assembled 6,000 homes.

00:46:39.000 Okay. So you guys would think that they're buying one house at a time.

00:46:44.000 Blackstone is not going to stop and buy a house.

00:46:47.000 So basically the fact that they're buying it in such ridiculous bulk makes up for the fact...

00:46:52.000 The headlines say Blackstone's buying single family.

00:46:56.000 No, they bought a company that assembled 6,000 units.

00:46:59.000 Come on in.

00:47:00.000 Come in, Rebecca.

00:47:02.000 Okay, makes sense.

00:47:03.000 That's an important distinction.

00:47:05.000 So, Grant.

00:47:06.000 One second, guys.

00:47:08.000 You want to just set up and then I just got to finish this.

00:47:11.000 Whichever one you're comfortable with.

00:47:13.000 Always working.

00:47:14.000 So, real quick, right?

00:47:16.000 Let's say someone says, okay, Grant, this is all good information, but you're rich, bro.

00:47:21.000 Why are you talking to us right now?

00:47:23.000 I'm just curious because I'm a common folk.

00:47:25.000 I'm a common man.

00:47:26.000 Why give us advice when you're already rich?

00:47:28.000 Well, because it's the right thing to do, man.

00:47:32.000 Why wouldn't I want to share what works?

00:47:37.000 I mean, I can share it with my daughter, or I can share it with everybody.

00:47:41.000 I'm an educator.

00:47:42.000 At heart, I'm just an educator.

00:47:44.000 When I was 10 years old, my dad died.

00:47:45.000 I wanted somebody to help me, and nobody helped me.

00:47:48.000 And I swore by the time I was 12 or 13 years old, I'm going to make it.

00:47:52.000 I'm going to fucking become somebody one day.

00:47:54.000 I've got a chip on my shoulder.

00:47:56.000 And I'm going to learn the game, and I don't know what game I'm going to learn, but I'm going to learn some shit, and I have no clue what I was even talking about.

00:48:05.000 And maybe God instilled me with being an educator and a mentor and a person of service.

00:48:12.000 So, you know, look, if I go to the dentist and the dentist does something good for me, I'm going to tell other people about the dentist.

00:48:20.000 It's just my way, and I think most people are like that.

00:48:22.000 They want to show people hacks.

00:48:28.000 Question. So I didn't know that.

00:48:29.000 I actually learned something new from you on the whole BlackRock thing, them buying not necessarily single-family homes.

00:48:34.000 Rather, they're buying holding companies that own a bunch of these homes.

00:48:36.000 Let me ask you this.

00:48:37.000 So if someone wants to get in the game, right, and they want to get into real estate, they might not have as much money.

00:48:44.000 How can they get their foot into the game?

00:48:49.000 And kind of get to where you're at and quickly transition over to the commercial property.

00:48:52.000 Or how can they potentially get a commercial property as their first property so they skip the whole single family thing?

00:48:57.000 See, here, you just got to dig a little deeper on the data.

00:49:00.000 By the way, this is just a practical thing that I'm showing you.

00:49:04.000 When people tell you something, hey man, Blackstone's buying companies that own single family, okay?

00:49:11.000 Then say, show me the data.

00:49:13.000 In real estate, show me the data.

00:49:15.000 Just show me the data.

00:49:16.000 Like, I won't listen to anybody that talks about crypto until they tell me how much their wallet is.

00:49:20.000 Okay. If you want to tell me about Bitcoin, how much Bitcoin you got?

00:49:23.000 I ain't telling you.

00:49:24.000 I ain't listening.

00:49:26.000 Fair. But if you can't tell me, I ain't listening.

00:49:27.000 Blackstone will have the third largest U.S. single-family portfolio once it completes its Tricon residential property acquisition.

00:49:37.000 They bought the whole company.

00:49:38.000 They didn't buy a single-family home.

00:49:40.000 Now, your viewer's going to watch this and say, yeah, but I don't have Blackstone's money, so I've got to start somewhere.

00:49:45.000 Do not start with one house.

00:49:47.000 That's what I was going to ask.

00:49:48.000 So how should they start?

00:49:49.000 That's exactly what I was going to ask.

00:49:50.000 You can start with one house.

00:49:52.000 By the way, it's easier to get a loan on 32 units than it is to get a loan on one house.

00:49:58.000 It's easier, by the way, to get a loan on 32 units with bad credit than it is to get a loan.

00:50:05.000 On one house.

00:50:07.000 Well, that is true because commercial assesses the property versus the potential lending.

00:50:12.000 And they give you credit for the income.

00:50:14.000 Yeah. But, Grant, how would someone go about doing that then?

00:50:17.000 Like, maybe they don't have as much money.

00:50:19.000 How can they go where they skip the single-family home trap and then go right into commercial where the money is and they assess the property versus the lending?

00:50:26.000 You do need to learn something first.

00:50:28.000 If you're not committed to learning something first, just take all this podcast that you're listening to right now and throw it away.

00:50:36.000 I'm doing an event in Miami.

00:50:40.000 They can find it at grantcardone.com forward slash resummit.

00:50:44.000 I don't even know if there's seats left.

00:50:46.000 I have no clue.

00:50:47.000 grantcardone.com forward slash resummit.

00:50:50.000 I think they're $495 tickets.

00:50:52.000 It's not free.

00:50:53.000 You've got to get to Miami.

00:50:55.000 That's not a government program.

00:50:56.000 If you need one of those, wrong guy, wrong place.

00:50:58.000 And it's two days of how to do exactly what I'm telling you right here.

00:51:03.000 We were there, actually, a couple years ago.

00:51:05.000 Yes. Last year?

00:51:06.000 Come back as my guest.

00:51:08.000 Come back as my guest.

00:51:09.000 Because I'm going to show you what's going on in the correction markets right now.

00:51:12.000 L.A., San Diego, San Francisco.

00:51:14.000 Unbelievable correction taking place.

00:51:16.000 Dallas, Austin, the Tampa market, Orlando, Fort Lauderdale.

00:51:21.000 Bro, the deals are crazy.

00:51:23.000 Now, your audience is going to be like, yeah, but I don't have the money.

00:51:26.000 You don't need the money.

00:51:27.000 You need the deal.

00:51:29.000 And you need to learn how to share it with an audience.

00:51:31.000 And your audience will fund the deal.

00:51:35.000 Okay. So, just to make sure I have this right.

00:51:37.000 So, to get into the residential game and kind of skip the single-family home situation, you're saying there's ways to get in residential even with less money.

00:51:48.000 It's just that you're going to probably need to crowdsource it, potentially.

00:51:52.000 100%. Look, getting a loan is crowdsourcing.

00:51:55.000 It's just going to Fannie Mae and you become Fannie Mae's bitch.

00:51:59.000 Gotcha. You're trapped.

00:52:01.000 You're trapped, bro.

00:52:02.000 You're trapped.

00:52:02.000 You got a lender.

00:52:03.000 You got a lender.

00:52:04.000 If you guys have good credit, you guys that have good credit and you got some money, you can put 25% down and you go get a loan from Goldman Sachs, bro, they're telling you what the deal is.

00:52:14.000 They tell you what to do.

00:52:16.000 You don't tell them what to do.

00:52:19.000 You're no longer in control of that deal.

00:52:21.000 When I crowdsource a deal, And I've raised $1.6 billion over the internet.

00:52:28.000 I'm probably the largest crowd funder on planet Earth.

00:52:31.000 And I'm not bragging.

00:52:33.000 I'm actually complaining because it should be $16 billion.

00:52:35.000 And it will be at some point.

00:52:37.000 But I'm just saying, if I can do this, anyone can do this.

00:52:40.000 No ad budget.

00:52:40.000 I have a lot of trust.

00:52:42.000 I have a brand.

00:52:44.000 And I use my education, my front-end education.

00:52:48.000 I use that, make it affordable for people to come get the education if they want to.

00:52:53.000 A bunch of free content online.

00:52:55.000 And then they come and see what I'm doing, and they're like, you know what?

00:52:58.000 I'm just going to give him the money to do it.

00:53:01.000 A tiny percentage say, I'm just going to do it with Grant as a partner because I make it so easy for them to invest with me and become a partner with me in these unbelievable assets.

00:53:15.000 It would be a very difficult undertaking if it was your first deal.

00:53:20.000 Gotcha. So it would be fair to say that if someone wants to get into real estate and they're like, you know, I want to skip the single family home thing and just go right into commercial where I'm now screwing eyes as much, pretty much the only way to do it is through, look, get with other people, turn yourselves into the bank versus trying to get a commercial loan from a bank to buy your first commercial property.

00:53:41.000 Saturday night, I was at a gala to celebrate the firemen of Los Angeles County for beating down the fires.

00:53:50.000 After five, you know, six or seven days of fighting those fires.

00:53:54.000 Even though there was 18,000 homes lost.

00:53:57.000 And I went by one of the tables and thanked a dozen firemen and there was hundreds of them there.

00:54:02.000 I went to one table and the guy's like, should I buy or should I sell right now?

00:54:06.000 I said, what you dumbasses should do is you should put all your damn money together and buy the whole fucking neighborhood.

00:54:13.000 That's what y'all ought to do.

00:54:14.000 That's smart.

00:54:15.000 Actually, with the fires, Let's talk about that real quick, because I know that you have some investments out there in California.

00:54:21.000 Obviously, the fires ravaged the whole L.A. area.

00:54:24.000 What are your thoughts on what went down, the government's response to it?

00:54:27.000 Should people buy in California, or is this a great opportunity with the fires?

00:54:31.000 Let me see if I can show you this.

00:54:32.000 I don't know if your YouTube channel is going to be able to see it.

00:54:36.000 They can see it.

00:54:37.000 We can see the top part of your image.

00:54:40.000 We can see the top part of what you're sharing.

00:54:43.000 Can you see that?

00:54:45.000 Now we do.

00:54:45.000 Yeah, yeah.

00:54:46.000 We got you.

00:54:47.000 Fire. So that's my house on fire.

00:54:49.000 Let me see if I have this other one real quick.

00:54:52.000 See if I have this.

00:54:54.000 You're back to me now, right?

00:54:56.000 Yeah, we're back to you.

00:54:58.000 What is this?

00:55:02.000 Yeah, shit, I can't show you that one, shit.

00:55:05.000 That one would get me in trouble.

00:55:10.000 Great, speaking of trouble, while you're doing that, There's trouble brewing out and about on social media with Gary Breka.

00:55:18.000 Now, we spoke about it a little bit earlier, but what's up with him, man?

00:55:20.000 He's talking a lot of smack about you and 10X and how he feels like tried.

00:55:26.000 What's going on there, bro?

00:55:28.000 Just a dumbass being a dumbass.

00:55:33.000 You know, just dumb.

00:55:35.000 Wasn't he out of like 10X health and fitness and all that stuff?

00:55:38.000 He was a minority owner in that company.

00:55:41.000 We bought him out.

00:55:43.000 He had a failing business.

00:55:45.000 We offered to buy the company.

00:55:47.000 He agreed to it.

00:55:48.000 We gave him some money.

00:55:51.000 Blew the company up.

00:55:54.000 Then he started doing some dumb stuff.

00:55:56.000 Then he started bringing attention to it.

00:55:58.000 I was really quiet about it.

00:56:00.000 Didn't say anything.

00:56:01.000 Watched him do dumb shit for two years.

00:56:04.000 Kept forgiving him.

00:56:05.000 Then we finally had enough.

00:56:07.000 And then he went on a bunch of podcasts and started making noise about it.

00:56:10.000 I'm like, okay, that's fine.

00:56:13.000 I just kept listening and listening, and then I finally had enough.

00:56:13.000 That's good.

00:56:15.000 We fired him.

00:56:19.000 Anyway, bro, you know, like I've been through this many, many times.

00:56:23.000 You know, these all end up the same way.

00:56:27.000 So basically, you put him on.

00:56:29.000 He did a pretty subpar job, and you fired him.

00:56:34.000 He got mad and talked about your podcast.

00:56:35.000 Look, he did a good job at what he does, which is talking.

00:56:39.000 You know, he did a good job at that.

00:56:41.000 I mean, he's a very charismatic dude.

00:56:45.000 He's good at that, but then, you know, it's just a bunch of stuff that violated a bunch of agreements that's going to be made public.

00:56:52.000 You can find it all, by the way, GaryBreccaExposed.com.

00:56:55.000 Oh, shit.

00:56:58.000 GaryBreccaExposed.com.

00:56:59.000 So you can find it there.

00:57:00.000 So I don't need to...

00:57:00.000 There's the facts.

00:57:02.000 I'm not here to hurt him or...

00:57:03.000 Destroy him or mess him up.

00:57:05.000 He'll do that for himself.

00:57:06.000 This motherfucker will fuck himself up so bad.

00:57:10.000 And then there's going to be a 10X flag planted right there.

00:57:14.000 Hey Grant, you ever been to Barbados?

00:57:18.000 Barbados, yeah, man, where they honk their horns everywhere they go.

00:57:21.000 Yeah, that's where I'm from.

00:57:22.000 Dude, that's the horn honking capital of the world.

00:57:25.000 It's like, when I was in Barbados, I'm like, these people just got a horn for the first time.

00:57:29.000 They think the horns...

00:57:31.000 The horn on a car is like an AI app.

00:57:33.000 They're like, oh shit, I got a horn.

00:57:35.000 Literally. Grant, I got a question for you.

00:57:37.000 Let's say someone watching right now wants to get in real estate.

00:57:40.000 They have somewhere between $3,000 to $5,000.

00:57:42.000 What would you tell them to do?

00:57:44.000 Yeah, I would tell you to find a great piece of real estate, secure it with your five grand, and then go raise money.

00:57:55.000 Okay, how should they go about like...

00:57:58.000 Look, this is how real estate works.

00:58:00.000 First the deal, then the debt, then the equity.

00:58:05.000 So you're going to get a 32-unit deal.

00:58:07.000 Let's say it's $640,000.

00:58:10.000 How many units did I say?

00:58:11.000 32. 32 units.

00:58:13.000 Let's say it's 200 grand a unit, so it's $6 million.

00:58:16.000 You're going to need about $1.5 million to buy the deal.

00:58:20.000 First, you need the deal, though.

00:58:21.000 You don't need the money.

00:58:22.000 You need the deal.

00:58:23.000 I need $6 million to buy the deal.

00:58:26.000 To close the deal, I need a million and a half down.

00:58:29.000 So what do I really need?

00:58:30.000 I need four and a half million from Fannie or Freddie or HUD or somebody.

00:58:34.000 If it's the right piece of real estate, you can get a loan.

00:58:37.000 Now, once I get the six million dollar piece of real estate under contract, I have the contract under real estate.

00:58:42.000 Now I have a loan in place.

00:58:45.000 Six million is not six million anymore.

00:58:47.000 It's, oh, 1.5 million.

00:58:49.000 And I'm going to take my five grand and say, guys, I got all my money in this deal.

00:58:53.000 And I need to raise $1.5 million.

00:58:55.000 And I'm going to run the deal, manage the deal, operate the deal, and 10 people each are going to give me $150,000, and boom, we got a deal.

00:59:05.000 So there'll be 11 investors in one deal.

00:59:09.000 These deals are all over the place.

00:59:11.000 Unfortunately, you cannot find a supercar if you're looking for a bicycle.

00:59:17.000 Okay. You're not going to find a 10 if you're settling on...

00:59:23.000 Threes. And that's the example of the single-family home.

00:59:29.000 Okay. If you're spending all your money in a single-family home, you can't find 32 units.

00:59:34.000 Really, ideally, what you're looking for is 32 units where they're under-rented by $400 a month or 64 units that are under-rented.

00:59:43.000 The rent's $200 too low.

00:59:46.000 Okay. That'll make you a million dollars every time you do it.

00:59:50.000 Okay. Inequity or cash flow or a combination of all?

00:59:54.000 Cash flow.

00:59:56.000 If you can increase the rents $200 on 64 units, you're going to make $1.1 million for you and your investors every time you do it.

01:00:03.000 Over the course of a year or?

01:00:06.000 As soon as you raise the rents $200.

01:00:09.000 If you can raise the rents in 24 minutes, you'll make $1.1 million in 24 minutes.

01:00:15.000 Okay. Oh, you mean...

01:00:16.000 Hey, guys, can we do this?

01:00:17.000 Can we do this?

01:00:18.000 I love this interview.

01:00:19.000 Can we do this again?

01:00:20.000 Pick it up right here at another time?

01:00:22.000 Sure. Yeah, yeah.

01:00:24.000 I mean, right here.

01:00:25.000 We'll just pick it up right here, and then we'll add to it.

01:00:29.000 Next time in studio.

01:00:30.000 We're down.

01:00:30.000 Yeah, yeah, yeah.

01:00:31.000 I mean, if you're back in...

01:00:32.000 You're in Brickell, so I'll come down to you guys.

01:00:34.000 I'm going to be there Saturday.

01:00:36.000 Perfect. All right.

01:00:37.000 Yeah, we can do something.

01:00:38.000 Maybe I'll do it next week.

01:00:39.000 I hate going down to Brickell.

01:00:40.000 Why don't you come to my studio?

01:00:41.000 Either or.

01:00:42.000 We could do either or because you're right up.

01:00:44.000 Well, I'm not going to say where.

01:00:45.000 I'm in Aventure, but it's going to cost me more to drive to you than it's going to cost you to drive to me.

01:00:50.000 Ah, you had to hit us there.

01:00:53.000 All right.

01:00:54.000 Hey, man, hold on.

01:00:55.000 You know what?

01:00:55.000 Call us a jet.

01:00:56.000 No, no, no.

01:00:57.000 You got us?

01:00:58.000 Call us a jet, bro.

01:00:58.000 Yeah, call us a jet.

01:00:59.000 Call us a jet over there.

01:01:00.000 Yeah, how about that?

01:01:02.000 Huh? Well, I could do this.

01:01:04.000 I could send a helicopter and just drop you on the building.

01:01:07.000 There you go.

01:01:07.000 Even better.

01:01:08.000 Oh, no.

01:01:09.000 No, no.

01:01:09.000 Kobe. Hell no.

01:01:10.000 Hell no.

01:01:11.000 No, no.

01:01:11.000 How about this?

01:01:12.000 How about...

01:01:12.000 Does next Monday work for you or no?

01:01:15.000 Let me just...

01:01:16.000 I'll work it out with Sherry.

01:01:17.000 We'll figure it out.

01:01:17.000 We got Sherry's contact, so we'll...

01:01:19.000 I'd love to do it, though.

01:01:20.000 100%. We'll do it.

01:01:21.000 We'll pick up here.

01:01:21.000 All right, man.

01:01:22.000 Good stuff.

01:01:22.000 That's cool.

01:01:23.000 Thanks, guys.

01:01:24.000 More to come.

01:01:24.000 Thanks for coming on, man.

01:01:25.000 Later, bro.

01:01:26.000 Later. So what we could do is...

01:01:29.000 What time is it?

01:01:29.000 It's nine right now.

01:01:30.000 We do got to get ready for what's it called anyway.

01:01:33.000 But just to recap, though, that was a pretty good sauce.

01:01:36.000 Yeah, yeah.

01:01:37.000 I will say this, though.

01:01:39.000 For the average person trying to buy a property with 5K, that tactic, you got to be skillful at networking, having connections, because...

01:01:47.000 It can be done.

01:01:48.000 Yeah, but you need the right people with you, because that is not easy to do offhand.

01:01:53.000 You can do it, but it's not easy to do offhand.

01:01:56.000 Yeah. Shit.

01:01:58.000 Wow. We have so many more questions.

01:02:01.000 Ah, it's all good.

01:02:02.000 I mean, I was just going to go more into detail about acquiring the commercial stuff with limited funds.

01:02:10.000 Because he is right in the regard where you're not scrutinized as hard with a commercial deal.

01:02:14.000 Yeah. But oftentimes, you have to come with more money.

01:02:17.000 Like, for the down payment.

01:02:19.000 Because the funny part is, I got people that, like, no offense, are above grant, money-wise, and they don't talk about shit.

01:02:25.000 They don't want to share shit.

01:02:28.000 This is probably for you for sharing because most people don't want to share it.

01:02:31.000 Yeah, they definitely don't want to share this.

01:02:33.000 Because they already got their own crowdsourcing with like billionaires and shit.

01:02:36.000 They don't care.

01:02:37.000 They got their little circle?

01:02:38.000 Exactly. And they don't need nobody else.

01:02:40.000 They know 5, 10 dudes?

01:02:41.000 Hey, I need 2 million.

01:02:43.000 Okay, here you go.

01:02:44.000 Yeah. You know, because this does get done at higher levels.

01:02:48.000 They do it behind closed doors, exactly.

01:02:51.000 Not bad, though.

01:02:51.000 Yeah. Let's see here.

01:02:53.000 It's 9 o'clock now, man.

01:02:54.000 Yo, he mentioned somebody's bank account.

01:02:59.000 On the show, Portfolio.

01:03:02.000 He mentioned a large number.

01:03:06.000 I'm confused.

01:03:07.000 He mentioned someone's assets on the show.

01:03:11.000 You didn't hear that part?

01:03:13.000 I remember him saying like $167 million.

01:03:15.000 I'm assuming that's him.

01:03:17.000 You're talking about something else.

01:03:19.000 He means somebody else.

01:03:22.000 Alright, I'll tell you after.

01:03:24.000 Fresh, why do you do this, man?

01:03:25.000 No, because you didn't get it?

01:03:27.000 No! I remember him saying $167 million.

01:03:30.000 Yes! Do you know who he means?

01:03:31.000 I thought himself.

01:03:33.000 Alright, probably.

01:03:34.000 I thought he meant somebody else.

01:03:35.000 I don't want to say his name, though, because he didn't say his name.

01:03:37.000 Nobody said on this call.

01:03:39.000 Yeah. It was only me, you, and him.

01:03:41.000 On the call.

01:03:44.000 Well, okay.

01:03:45.000 Alright, alright.

01:03:46.000 Unless Moe and Bills are secret billionaires that we ain't know about, but like...

01:03:49.000 I'll tell you.

01:03:49.000 I'll tell you out there.

01:03:51.000 Just say it, because these niggas are going to flame you now.

01:03:53.000 They're going to say Elfresh and shit.

01:03:54.000 He didn't say the name, so I don't want to say the name.

01:03:56.000 If he says a name, I'll say a name.

01:03:57.000 Next show.

01:03:58.000 How about that?

01:04:00.000 Bro, just say it, man.

01:04:00.000 Let him say it.

01:04:02.000 Nah, nigga.

01:04:02.000 Is that bad?

01:04:03.000 Why'd you break it up, man?

01:04:05.000 Because I want to know if you knew who he meant.

01:04:07.000 Hold on, hold on, hold on, hold on.

01:04:08.000 He didn't say a name.

01:04:09.000 I'm like, alright.

01:04:11.000 I don't want to say the name, but do you know who it is?

01:04:13.000 This guy, Fresh, always does this, bro.

01:04:15.000 I got you, Fresh.

01:04:15.000 W Fresh.

01:04:16.000 Nigga always brings this thing that doesn't say, bro.

01:04:18.000 Thank you.

01:04:18.000 I want all the sauce, man.

01:04:21.000 Just give me all the tea.

01:04:21.000 Nigga brings it up, and then I'll be like, and then he'll break it up, and I'll be like, what?

01:04:24.000 Can you clarify?

01:04:25.000 And then he'll...

01:04:28.000 I'm not going to say it on camera.

01:04:29.000 I have to see people after the show, okay?

01:04:30.000 I got to see them in the face.

01:04:32.000 You know.

01:04:33.000 I'm assuming since he brought it up that he didn't...

01:04:35.000 Well, let's ask him after.

01:04:37.000 But I have a feeling I know who it is.

01:04:40.000 There you go.

01:04:43.000 Anyhow. After hours.

01:04:46.000 Coming up soon.

01:04:47.000 Pretty soon.

01:04:48.000 Alright. I agree with some chats.

01:04:51.000 Alright. Pumpkin's low, though.

01:04:58.000 It's really low.

01:05:02.000 Oh, I know.

01:05:04.000 Yeah. Nigga said mine bald and more.

01:05:09.000 I know, bro.

01:05:11.000 I am bald and more.

01:05:14.000 How about two waves, man?

01:05:16.000 I caught him off, man.

01:05:17.000 Too much work, bro.

01:05:18.000 That's a lot of work.

01:05:19.000 That was a lot of brushing.

01:05:20.000 Yeah, man.

01:05:21.000 I'm still here, though.

01:05:25.000 You got this one?

01:05:26.000 Okay. Question for Brother Darkness.

01:05:28.000 Can you bring on someone who know is about natural holistic medicine and Mo Habibi get bills to say adieu?

01:05:34.000 Bliss to say adieu?

01:05:36.000 We had on Nate Belmar.

01:05:38.000 He's more holistic.

01:05:40.000 But, uh...

01:05:42.000 Yeah, wasn't he on your show?

01:05:43.000 Yeah. Bring him on and have him talk about that stuff.

01:05:47.000 Yeah, we could.

01:05:49.000 Great. Knowing what you know, do you regret not taking...

01:05:52.000 Okay. Yeah, this is earlier.

01:05:54.000 Yeah, you know what?

01:05:55.000 Save some of the...

01:05:55.000 Mo, can you do me a solid...

01:05:57.000 Make a folder.

01:05:57.000 Save these questions.

01:05:58.000 And when we link back up with Grant, we'll ask him these questions.

01:06:02.000 Okay. If you don't mind.

01:06:04.000 Sorry, guys.

01:06:05.000 Yeah, damn it.

01:06:06.000 Red Pill Overdose.

01:06:07.000 Question for Grant Cardone.

01:06:08.000 Fresh and Meyer.

01:06:09.000 How many rental properties would someone need to own making 10K a month?

01:06:12.000 Thank you.

01:06:13.000 I can answer that question for you, bro.

01:06:14.000 You're going to need roughly $2 million in real estate.

01:06:18.000 Like, roughly $2 million to make 10K a month.

01:06:21.000 You need to control roughly $2 million worth of real estate to make that.

01:06:25.000 1.5 to 2M.

01:06:29.000 What else?

01:06:32.000 And remember, that's not $2 million all your money in.

01:06:36.000 That's the total price, the total equity of the property.

01:06:41.000 So you can obviously leverage and put a small percentage down.

01:06:48.000 You know, acquire the rest from the bank.

01:06:50.000 But yeah, you need to control roughly $1.5 to $2 million worth of real estate in total to make your $10K a month cash flow.

01:06:58.000 But some of that is, you know, might get eaten up by costs and everything else like that.

01:07:01.000 But yeah.

01:07:02.000 DemetriusRap says, Grant Cardone was speaking at this event and he said to contractors or customers, don't get your counter replaced.

01:07:08.000 Get them wrapped.

01:07:10.000 After that, I got a bunch of customers for countertop and cabinet wraps.

01:07:13.000 I'm on a yacht in Bayside right now finishing the interior doing a wood wrap on cabinets and marble wrap on the counters.

01:07:18.000 Nice. Cool.

01:07:20.000 Shout out to you, Demetrius.

01:07:25.000 Fresh, sell me the water.

01:07:26.000 Well, you actually did on...

01:07:28.000 You already did.

01:07:28.000 I did.

01:07:28.000 What channel did you do it on?

01:07:31.000 Fresh Start.

01:07:32.000 There you go, there you go.

01:07:34.000 I'm forgetting, man.

01:07:37.000 Well, actually, it's called the 305 Podcast.

01:07:39.000 That's actually what it's called, officially.

01:07:40.000 Yes. You know what?

01:07:42.000 I'll make a difference here.

01:07:45.000 It's because that one's called 305 Podcast.

01:07:48.000 Mine's a fresh start.

01:07:49.000 That didn't even start yet properly.

01:07:51.000 So that's the big difference there.

01:07:53.000 Well, I'm confused.

01:07:55.000 So the one with me and Gary is a 305 podcast.

01:07:57.000 The one y'all do on Tuesday, Tuesday?

01:07:59.000 Yeah, me, Gary, and Dom.

01:08:00.000 Okay. But the one with myself and guests is called a fresh start.

01:08:04.000 We need a one episode with PJ.

01:08:07.000 Okay, okay, okay.

01:08:08.000 Okay, so when you're there solo...

01:08:09.000 Yeah, a fresh start.

01:08:10.000 Okay, but all of it, just so the audience doesn't get confused here, all of it is posted on the fresh start chat.

01:08:15.000 Yes. Okay.

01:08:17.000 Whether 305 or...

01:08:18.000 On YouTube or Rumble, yeah.

01:08:19.000 Okay. All right.

01:08:20.000 Cool. So, yeah, y'all get all the content on that channel.

01:08:23.000 You get all the content just by being on that channel.

01:08:25.000 Because Gary ain't doing 305 without you there, I'm assuming.

01:08:30.000 Nah. Well...

01:08:32.000 Because that might confuse people, too.

01:08:33.000 No, no, no, no.

01:08:34.000 It's going to be me and Dom, for the most part, yeah.

01:08:37.000 For 305?

01:08:37.000 Yeah. Okay.

01:08:39.000 So, all right.

01:08:40.000 So, Fresh Start, 305, doesn't matter.

01:08:40.000 So, all right.

01:08:42.000 It's all going to Fresh Start channel.

01:08:43.000 Pretty much, yeah.

01:08:44.000 Okay. All right.

01:08:45.000 Cool. That way you guys aren't confused.

01:08:49.000 Just go to Fresh Start YouTube channel.

01:08:51.000 There you go.

01:08:51.000 It's all going to be there.

01:08:52.000 It's the most important thing.

01:08:53.000 All right, what else do we got?

01:08:54.000 Peter Darker.

01:08:55.000 Hey, Myron, my grandparents are gifting me their house, and I'll get the loan at $120,000.

01:09:00.000 The house is valued at $180,000.

01:09:01.000 Can I turn around and sell the house and buy a couple of duplexes for that $60,000 equity?

01:09:06.000 So he's getting a $120,000 loan.

01:09:08.000 The house is valued at $180,000.

01:09:12.000 You could.

01:09:12.000 It depends on where you live, bro.

01:09:14.000 You know, your spending power, or excuse me, your buying power when it comes to purchasing homes is directly contingent to where you live geographically in the United States.

01:09:24.000 Like, 100, I'll give you an example.

01:09:28.000 What, you said you're gonna get 20K?

01:09:31.000 120K? Yeah.

01:09:34.000 Okay, let's just make it simple.

01:09:35.000 $100,000 in Ohio is gonna take you way further than $100,000 in New York.

01:09:40.000 New York, you can't get shit with 100K.

01:09:42.000 In Ohio, you could get...

01:09:44.000 Three houses with $100,000.

01:09:45.000 A lot.

01:09:45.000 You see what I mean?

01:09:46.000 So it's 100% contingent on where you are, Peter.

01:09:50.000 What else we got?

01:09:52.000 That's it?

01:09:53.000 No, one more.

01:09:53.000 Oh. Last one here?

01:09:55.000 Okay. Gary, I understand that it's easier to get a loan on a 32-unit compared to a single family so we can exploit the revenue cap rate valuation technique.

01:10:03.000 Exactly. How can I break the down payment barrier to entry, which is off at 20%?

01:10:07.000 Good question, Mr. B. And that's kind of what I was trying to get at.

01:10:10.000 He answered it.

01:10:10.000 Basically, crowdfunding is how you do it.

01:10:14.000 Now, the specifics of crowdfunding, he probably wants to do that at his conference.

01:10:18.000 In detail.

01:10:19.000 But basically, it's crowdfunding, guys.

01:10:21.000 And that's kind of what I was trying to get out for you guys.

01:10:24.000 Which, you know, I see the perspective.

01:10:26.000 If you're able to crowdfund, yeah, dude, you should never do a fucking residential deal.

01:10:30.000 Because the commercial deals are going to give you, a lot of the times, more cash flow and better situations.

01:10:35.000 But the average person can't do that off the fly, though.

01:10:38.000 Yeah, because not only do you need the money, you need the skill set.

01:10:40.000 And you need the network.

01:10:41.000 Which most people probably never have.

01:10:44.000 And that automatically ostracizes 99% of investors.

01:10:46.000 You would never get a chance.

01:10:47.000 Because you're not going to have the...

01:10:49.000 See, we understand.

01:10:50.000 The money is one barrier, but then getting the people to believe in you, to give you the money, is a whole other fucking game.

01:10:56.000 I got to like you.

01:10:57.000 You got to be well-spoken and established.

01:11:00.000 And you got to find a deal.

01:11:01.000 Yeah. That's another big part.

01:11:02.000 You got to find the fucking deal.

01:11:03.000 A lot of times, you ain't going to go on, you know, what is it called?

01:11:06.000 Dot loop?

01:11:07.000 The one for commercial?

01:11:08.000 Yeah. Because there's Redfin for residential, then I think it's Dotloop or whatever for commercial.

01:11:13.000 You won't even find it on the listings.

01:11:14.000 You're going to have to go there and knock on the door a lot of times.

01:11:16.000 Like, hey, I want to buy your unit.

01:11:17.000 Sorry, I want to buy your apartment complex.

01:11:19.000 Are you selling?

01:11:20.000 Also, they're going to have questions that they're going to ask you.

01:11:22.000 And if you don't have access to it, they're probably going to leave.

01:11:26.000 Here's the thing.

01:11:28.000 Can it be done?

01:11:29.000 It can.

01:11:29.000 But it ain't going to be easy.

01:11:30.000 You're going to need to put some work in.

01:11:32.000 You're going to need to know people.

01:11:32.000 You're going to have to be knocking on doors.

01:11:34.000 You're going to have to find off-market deals.

01:11:36.000 But if you can find it, Then you're golden.

01:11:40.000 The returns are way higher than a residential deal, is what he's saying.

01:11:43.000 Which, I get it.

01:11:44.000 He's like, yo, why waste time on a single-family home when you can just go right into commercial, which I would argue for most people, they can't go into commercial.

01:11:54.000 Yeah, they can't.

01:11:54.000 But if they have the skill set and the network, they can, which is where he comes in.

01:11:59.000 You know, he's a good salesman, man.

01:12:00.000 I mean, it could be done.

01:12:02.000 Absolutely, it could be done.

01:12:03.000 I mean, if you're putting it all together, you see why I ask why?

01:12:07.000 Is it because it leads back to...

01:12:09.000 Ta-da!

01:12:11.000 His program.

01:12:12.000 Smart. It's really smart.

01:12:14.000 Oh, yeah, yeah, yeah.

01:12:15.000 Yeah, for sure.

01:12:16.000 Yeah. For sure.

01:12:17.000 But, I mean, you can...

01:12:18.000 I mean, it's not a secret, though.

01:12:19.000 No, it's not.

01:12:20.000 There's a lot of real estate investors like him that literally crowdsource.

01:12:24.000 Everybody does it.

01:12:25.000 BiggerPockets. It's smart.

01:12:26.000 Chris Krohn.

01:12:27.000 All these guys do it.

01:12:28.000 They just do it with different pieces of real estate, but they all crowdsource.

01:12:32.000 Yeah. So it's not a secret.

01:12:34.000 But, yeah.

01:12:35.000 It's smart, though.

01:12:36.000 Yeah, yeah, yeah.

01:12:36.000 It could be done.

01:12:37.000 It can absolutely be done.

01:12:38.000 He wouldn't be having the platform he did if it was just scamming niggas and no one was making money.

01:12:41.000 People are obviously making money.

01:12:43.000 Okay. Fresh, if you need hell with your camera...

01:12:45.000 Help. Oh, hell.

01:12:47.000 Yeah, I think he meant to say.

01:12:48.000 He wrote hell, though.

01:12:49.000 With your camera settings and lighting, let me know.

01:12:51.000 I got you two on me.

01:12:52.000 Yeah, guys.

01:12:52.000 Thanks, bro.

01:12:52.000 TPC Films, actually, I'll give him a fucking Don DeMarco.

01:12:56.000 Because a lot of you guys are giving me compliments on the show's crispiness when it comes to the camera angles and shit.

01:13:03.000 Part of that is because I got a new switcher.

01:13:05.000 That I recently just started using yesterday, but also TPC Films has helped me with...

01:13:10.000 The camera settings on my cameras and, you know, making sure I get the best out of them.

01:13:14.000 So definitely shout out to him.

01:13:16.000 He helped me out.

01:13:16.000 He was literally on a Zoom call me for like two or three hours when I first got the switcher.

01:13:20.000 We were there trying to figure out some shit.

01:13:23.000 So he helped me out quite a bit, man.

01:13:24.000 So yeah, he's good, man.

01:13:25.000 He's good.

01:13:26.000 I got his number.

01:13:26.000 I'll pass it to you.

01:13:27.000 And then Bill's, just so you guys know, Bill's going to actually help me out after this with switching my OBS up so we can like go full on damn near 4K pretty much with the cameras and the new switcher we got.

01:13:38.000 So you guys should see.

01:13:39.000 An increase in camera quality over the past two days on the debrief versus last week.

01:13:45.000 So, anyway, it's 9.15 now, guys.

01:13:49.000 We'll probably be able to give y'all an earlier after hours today.

01:13:53.000 Depends on the girls, though.

01:13:54.000 Yeah, it depends on the girls.

01:13:55.000 But, you know, Chris, he always wants to start sooner than later.

01:13:57.000 Yeah, true.

01:13:58.000 And, yeah.

01:14:00.000 Anything else?

01:14:01.000 No. All right.

01:14:02.000 Cool. Guys, love y'all, man.

01:14:04.000 We are going to reschedule.

01:14:05.000 Not reschedule, but we're going to do a part two interview.

01:14:08.000 With Grant Cardone.

01:14:09.000 Make it happen.

01:14:10.000 I mean, he's here in Florida, bro.

01:14:11.000 If we got to go up to Aventura or whatever and do something for y'all, we'll do that.

01:14:13.000 So it's going to be a good time.

01:14:14.000 He was in California for an actual event.

01:14:17.000 Oh, yeah.

01:14:17.000 So he made some time for us when he could.

01:14:19.000 Yeah, yeah, yeah.

01:14:19.000 So that's why he's not here in studio.

01:14:20.000 For sure.

01:14:21.000 Yeah, yeah, yeah.

01:14:21.000 I was supposed to go, but I got massive.

01:14:22.000 Like, he kind of, bro, he made a lot of, you know, switches to schedule for us on that.

01:14:26.000 So I know some of you guys might be saying, oh, Grant, he dipped out.

01:14:29.000 Like, bro, he made a lot of, he switched things around for us to do that interview just now.

01:14:34.000 So shout out to him.

01:14:35.000 The guy's a fucking billionaire, pretty much.

01:14:37.000 You know, anytime guys like that take time out to talk to, you know, guys that are trying to learn or whatever, it's a huge opportunity.

01:14:43.000 I mean, I think, didn't, like, Alex Harmozi pay him $100,000 for an hour?

01:14:47.000 Yeah. Like, y'all got it for free through us, so you're welcome, niggas.

01:14:50.000 I'm about to hold you, bro.

01:14:51.000 Like, that talk you can do with us.

01:14:54.000 Obviously, with it in detail to the max, but, bro, that cost money, bro.

01:14:58.000 Like, a lot.

01:14:58.000 Bro, I remember Alex Harmozi literally saying, like, he paid, Grant, like, $100,000 for an hour.

01:15:03.000 Because you can take that information with your money.

01:15:06.000 I'm going to play it right now.

01:15:07.000 Yeah. And then you can win right now.

01:15:09.000 But we got y'all, man.

01:15:10.000 We're going to do our part two, and then we'll get them on a Zoom call for y'all as well, man.

01:15:13.000 So, you know, I know some of you guys are saying El Grant or whatever, but understand that the dude is pretty much a billionaire, man.

01:15:18.000 So, yeah.

01:15:19.000 Anyway, love y'all ninjas.

01:15:21.000 We are going to be back with some lovely ladies in about an hour or so.

01:15:25.000 And like the video, man.

01:15:27.000 Stay tuned right here.

01:15:28.000 We'll be back in a bit.

01:15:29.000 Later. Peace.

Fresh & Fit - March 31, 2025

Grant Cardone Returns!

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