Financial Freedom with Real Estate Investing MB 188: STOP Saving Your Money & START Investing in Multifamily – With Grant Cardone
Do you have your money right? Or are you handing it over to Wall Street and hoping for the best? What if I told you that the secret to true wealth is to STOP saving your money and START using it to invest in real assets—like multifamily real estate!
Grant Cardone is the CEO of Cardone Capital, a multifamily real estate investment firm with more than $1.36B in assets under management. He is also an international speaker and bestselling author, well-known for creating the 10X Movement and 10X Growth Conference. Grant was named the #1 marketer to watch by Forbes, and he is a widely respected entrepreneur who owns and operates seven privately held companies.
On this episode, Grant joins me to share what he’s investing in now, discussing what kind of returns he expects on multifamily deals. He walks us through a day in the life of Grant Cardone, sharing his secret to work-life balance, his definition of true wealth, and his thoughts on the importance of spirituality. Listen in to understand what is driving Grant to build a legacy and learn how his Reg A fund serves non-accredited investors.
Key TakeawaysWhat Grant’s investing in right now
- $473M portfolio in 5 properties, 2K+ units
- Well-located and institutional quality
- Deals with competition (list of buyers)
Why Grant avoids value-add multifamily deals
- Lack of salary growth in America
- ‘Value-add story will hit limits’
The returns Grant expects from multifamily investments
- 5 to 6% cashflow, 15% IRR
- $40M down becomes $135M in 30 years
Why Grant started a Reg A fund with $5K minimums
- Moral issue to support ‘little guy’
- Not true that < sophisticated, more trouble
A day in the life of Grant Cardone
- Time for gym, self-improvement
- Shut down work at 6pm for dinner
Grant’s secret to work-life balance
- Don’t invest in anything with potential to lose
- No worry more important than high returns
How Grant’s approach to money has changed
- Used to scrounge, act like miser
- Now use money to make life easy
What drives Grant to keep growing
- Legacy for family, change community
- Produce something of value = live forever
Grant’s insight on taking it to the next level
- From $90M deal to $900M
- Good friends will challenge
Grant’s definition of wealth
- Money, time, love, health and purpose
- Continuous learning = expansive
The role of spirituality in Grant’s life
- Spirit comes before and after body
- Best ideas come from beyond mind
Grant’s advice for ABI listeners
- Get your money right (use, don’t save)
- Invest in real estate with someone you trust
Connect with Grant Cardone Resources
Grant on Lewis Howes’ Podcast in 2017
The 10X Rule: The Only Difference Between Success and Failure by Grant Cardone
The Millionaire Booklet: How to Get Super Rich by Grant Cardone
Robert Kiyosaki on Apartment Building Investing EP160
What’s the Best Investment: The Stock Market or Real Estate?