Grant Cardone: How To Build $350 Million In Real Estate

 

Grant Cardone

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Grant Cardone’s real estate empire is worth $350-400 million dollars. After hearing Grant speak at Freedom Fast Lane Live, Ryan realized he has been operating his holdings in the slow lane and wanted to find out Grant’s process for amassing his real estate empire.

The Empire

Grant regrets starting small and spent three years shopping without buying a single piece of property. He eventually bought his first deal in 1996 at $350K. His second deal was for 48 units 60 days after followed by 500 unit. Grant feels his biggest mistake was selling them. His aim is to get to 10,000 units, which will get him to $1Billion.

The War Chest

Grant’s businesses were his war chest for funding the long-term scalable income streams that were never going to go away. To get started you need bank because it doesn’t take money to make money it takes courage. Most of us won’t have enough courage the first time so the way to get it is to have extra bank.

Inflation & Renting

Grant rents where he can live and owns what he can rent. When inflation hits you want to be in two places, real estate and art. In the next 25 years there is one thing that is indestructible and is an easy business. There are $150 million people in America who are renters and not buyers.

Criteria & Triggers

Grant exclusively buys apartments and stays away from office and retail. The criteria is that it has to meet a strict objective, process, and due diligence based on history.

Always the Sales Person

When you are trying to buy something it’s a sales job not a buyers job. Grant never considers himself the buyer and always the sales person as sales people always have control and buyers don’t.

Hustle & Sourcing Deals

Have so much hustle you don’t have time for hate. Grant says he stays broke as he takes all the money from his first couple of businesses and puts them in the other businesses and doesn’t diversify instead sticks with what he has. He doesn’t raise funds for his deals and likes to close in November and December. He wants to dominate or collaborate instead of competing.

Be A Salesperson 

When you spend less time with people and compress time you get a higher margin and happier customer. When you evaluate a company you ask about sales not the idea.

Non-Existent Middle Class  

76% of Americans live paycheck to paycheck. Grant sources ‘bread and butter properties’ rather than disrupters aiming to be at the top.

Links to Resources:

Grant Cardone

Loop Net

The Tribe