The Cardone Zone

Listen to Grant and Elena Cardone take callers questions on love, relationships, business, and social media. Elena even make cold calls to sell 10X Boot Camp tickets! If want to get on the same page as your partner, you need to discuss what you want and need—and even write out those wants and needs to see if you are on the same page!

Stress test for buying real estate: 1. Does it provide cash flow with at least 4-8% a year (if it provides more than 8% you need to look with some magnifying glass cause there is probably something wrong!) 2. Time/money - is this going to be worth your time? 3. Do you love it? 4. Can you exit? Can sell the deal at any time? If a deal makes 28% but that's only $100 that's not a good deal. How many doors/units/tenants you have is the most important number in real estate. Classes of properties: A - (could be triple A) new or 1-3 years old B - 3-20 years old caters to mix of white and blue collar, overall nice mix of cashflow and appreciation, returns of 5-7% before appreciation C - 20 + years old D - Inner city, tough markets

Inflation is decreasing the value of your money. Know how to calculate the future value of your money, so you can make sure to invest in the right vehicles to always have cash flow.

You're at 1 of 3 points in your life right now: #1 Basic Needs #2 Reinvesting #3 Multiplying When you're at basic needs, you're only getting enough to survive, you're never improving your life. When you finally start to reinvest in you, you begin to grow. Investment leads you to be able to multiply what you have. Tie your sales to finances and you'll make more money, be more motivated, and be able to help other people

For the first time ever, Grant interviews Elena for the show. He doesn't shy away from even the difficult questions, like "How long will you wait to start dating after I die?" If you want to know more about Elena, watch this revealing interview that will also give you great parenting and relationship tips!

REAL ESTATE needs to have 4 things: cash flow, scale, time, and the right location. Nail those 4 things and you'll be doing better than 99% of all real estate investors out there. The USA is the only place where you have the deals available that I am talking about. You can't find these properties with a lot of units available anywhere else, so the USA gives you SCALE, and right now the USA is on SALE! People inside the market always misevaluate the market—brokers are lying to you half of the time because they can't see the future. At Cardone Capital, we look at the future because we are looking at 2028, 2030 and beyond!

1. Ask for referrals - it's easier to get referrals than to find a new customer. Don't ask "do you know anyone you can refer to me?" Instead be more specific "When you see what I did for you, who are the first 2 people you think of that need the same help?" Want a deal today? Write down 3 happy customers and call them now and ask for two names from each of them. 2. Upsell an existing customer or extend their current contract. 3. Call every customer you pitched in last 12 months who said no - chances are they still didn't make a decision on any products yet.

On this edition of Power Players Grant Cardone interviews The Hip Hop Preacher—Eric Thomas. He had a difficult childhood and eventually ended up homeless eating out of trash can. He had a victim mentality that so many struggle with in poverty and in fatherless homes. Now Eric produces massive success for himself and others speaking at churches, schools, and wherever else there is life—he goes to motivate and inspire. American success is real but you have to go out and get it. Eric Thomas grinds to the grind. He says you must have Intrinsic motivation. Don't grind for the wrong reason. Don't make excuses. Outwork and out hustle people. Excuse are everywhere and people complain about not having enough support. Most people want the reward, but not grind. They want the lottery. Shoot for the Nobel Prize. It is about changing people's lives. Eric says the problem with education is that for many students there is no clear purpose, you go to school because you have to. Eric had to be rich because he decided he couldn't be stuck at a job—he wants to own his time. It's not just about having a nice house and nice cars, being rich allows Eric be able to buy his wife the expensive medication she needs. TGIM is better than TGIF—keep grinding!

1. You're not buying: If you don't buy, it's because you don't know what you're doing 2. Buying too small: This happens when you become scared thinking that big deals are riskier. This is false, small deals are riskier. 3. Buying on a Budget: don't be confined to what you can "afford". Don't have a budget when you buy, have a budget when you own. 4. Believing the Pro Forma: don't put significance on a fairy tale. 5. Underestimate expenses: taxes and insurance aren't fully understood. 6. Not funding Capital costs—roofs, carpets, etc. need to be funded, so set some aside for when you will need it. 7. Over leveraging—borrowing too much money. 8. Under leveraging—not borrowing money. 9. Buying on CAP rates: If you're only looking at 8 caps, you'll miss out on good deals that don't fit your criteria. 10. Not knowing: ignorance is not bliss.

You've got a lot going on. You run a business. Marriage. Your kids. The ability to change is vital to your success. You can wish or meditate but, in order to change, you have to make or become different. When I was 25, a mentor told me something that I'll never forget: "To change, you've got to change." How do you change? Do you make gradual moves or do you wait for the grizzly bear to come rip you apart? You don't like to travel. Travel more. You hate flying. Go on more flights. You don't like sleeping outdoors. Maybe you need to take a camping trip. Remove your rigid thinking. All Change Starts With You!