Grant Cardone "Buying a House is for Suckers"

[LifeTransformer]

I don't think anyone else has mentioned this potential method yet. It's very theoretical anyway (for me at least at the moment haha!).

If you've got $1m earning you 3% in the bank that gives you $30000 per year to spend on housing. Do you "invest" that by buying whatever house you can with that money? Or, do you do you rent with that money keeping the $1m in the bank but not gaining any equity in a property?

Hmmmm.

 

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[Jackflower93]

Billionaire Indians, Chinese, Russians and Arabs are buying up London properties like crazy. They know something Cordone doesn't.

Just look at areas like chelsea....

 

[biophase]

Billionaire Indians, Chinese, Russians and Arabs are buying up London properties like crazy. They know something Cordone doesn't.

LOL, thanks for replying in stupid one liners and adding nothing to the conversation. You obviously have not read the first post, any other post or watched the video.

 

[Sanj Modha]

LOL, thanks for replying in stupid one liners and adding nothing to the conversation. You obviously have not read the first post, any other post or watched the video.

My bad. I lost interest when I read "Grant Cardone".

 

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[Sanj Modha]

Just look at areas like chelsea....

Yup, Chelsea is hot right now.

I know a guy in Leicester who sold an inheritance property and used the cash as deposits on 10 rental ones. He's killing it now so I guess that fits into what Cardone is saying.

Living in your main residence is not of an asset unless you have equity which can be released and invested into rentals or other projects. Or you sell the place and make a profit.

It's like I always say. Do whatever works for you.

 

[splok]

I don't have much to add, but I bought my first house recently. One thing that I should have thought more about is how well a property would work as a rental. Even if you're buying as a primary residence, being able to immediately turn it into a cash-flowing rental is a good option to have.

 

[ZMan26]

All of you guys who talk crap about GC, you're confused.

You wanna take the same levels of action he does, you wanna burst through noise like he says, and in general his advice is pure gold.

Dont get confused and my rule of thumb is never talk trash about someone whos more successful than you are, instead try to listen and understand where hes coming from, you dont have to agree but at least listen.

 

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[biophase]

I never assume any appreciation for any real estate scenarios.

I don't either. That's why I'm wondering if all the people in this thread would think the differently if they also did not assume any appreciation.

 

[Mineralogic]

All of you guys who talk crap about GC, you're confused.

You wanna take the same levels of action he does, you wanna burst through noise like he says, and in general his advice is pure gold.

Dont get confused and my rule of thumb is never talk trash about someone whos more successful than you are, instead try to listen and understand where hes coming from, you dont have to agree but at least listen.

Ryan from FREEDOM FASTLANE who many of you on here would likely know by now, had Grant Cardone at his annual conference. The guy wouldn't talk about his real estate , etc and he was dumfounded since that was why he was invited. Ryan said it on his podcasts which had snippets of the events. There is alot of money in sales development/hype which is what GC is focused on now obviously

 

[ZMan26]

Ryan from FREEDOM FASTLANE who many of you on here would likely know by now, had Grant Cardone at his annual conference. The guy wouldn't talk about his real estate , etc and he was dumfounded since that was why he was invited. Ryan said it on his podcasts which had snippets of the events. There is alot of money in sales development/hype which is what GC is focused on now obviously

Don't join the haters in this forum bro

I know personally of a deal he did here in clearwater not a long time ago because I live in tampa and I saw the property he was talking about

besides heres the website with all his real estate : http://cardoneacquisitions.com

Idk about you, I watched the video of him in freedom fastlane and it is freaking awesome...
While this Ryan guy stands there like a weirdo sipping wine in front of the audience, Grant gave another mind blowing appearance

 

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[ravenspear]

Ok, here is a question. Would this conversation change at all if you assumed that the home you bought would not appreciate at all in the next 10 years? Would you still be buying that house or renting?

I think that analysis would depend on how expensive rents are vs buying which is somewhat location dependent.

In my case, it would still be cheaper to buy.

 

[Iwokeup]

I don't either. That's why I'm wondering if all the people in this thread would think the differently if they also did not assume any appreciation.

[Given that I didn't pay anything to move into the home]

We still would have bought.

Our priorities were not cashflow, and we did have a solid sense of our market (hot with no sign of slowing down for a good while) so it seemed to be a safe bet.

Now, however, we're looking to purchase properties that cashflow.

 

[Shades]

Don't join the haters in this forum bro

I know personally of a deal he did here in clearwater not a long time ago because I live in tampa and I saw the property he was talking about

besides heres the website with all his real estate : http://cardoneacquisitions.com

Idk about you, I watched the video of him in freedom fastlane and it is freaking awesome...
While this Ryan guy stands there like a weirdo sipping wine in front of the audience, Grant gave another mind blowing appearance

Bro Cardone is old news. Im reading this new book by this bro Zman26. Totally changing my outlook on business and life in general bro.

 

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[458]

I feel like this is two dumb threads in one. One topic is buying a house and the other is hating on Grant, both of which many of you are completely confused about.

I personally have my sales room on Grants most expensive products and I can personally attest to the fact that his material will turn a complete novice into a closing machine in a short amount of time. The reason most of you are hating on him is because your broke and can't afford his products. Haters.

 

[ravenspear]

I feel like this is two dumb threads in one. One topic is buying a house and the other is hating on Grant, both of which many of you are completely confused about.

I personally have my sales room on Grants most expensive products and I can personally attest to the fact that his material will turn a complete novice into a closing machine in a short amount of time. The reason most of you are hating on him is because your broke and can't afford his products. Haters.

Huh?

I could care less about his products or him personally, but I don't need some guru's expensive products to make progress in life or business.

 

[458]

Huh?

I could care less about his products or him personally, but I don't need some guru's expensive products to make progress in life or business.

Every one wants the best but no one wants to pay for it. Losers mentality.

 

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[daivey]

Huh?

I could care less about his products or him personally, but I don't need some guru's expensive products to make progress in life or business.

i dont get that setence..... so why pay for school? why go to school? why study or learn anything????? by studying or learning anything you're just basically buying some gurus products (e.g. what he has to say, as he is his own business.)

 

[458]

I don't generally want the best. I want the most value. Don't confuse the two.

I'd love the hear your definition of "most value" especially as it pertains to a product I'm sure you have no experience with.

Is value a 0.01% conversion increase that results in a 500k increase in yearly revenue? Is this the "best" value? If so, how much currency should be exchanged for such value? $499k?

What about adoption rate among egotistical sales people? Is this valuable?

If your product had these two things, should you cut your margins paper thin so you can have your customers feel they are getting a bargain? Or that there getting the most "value"? Why should someone else lose money so you can make money? This isnt a zero sum game my friend.

 

[Shades]

I feel like this is two dumb threads in one. One topic is buying a house and the other is hating on Grant, both of which many of you are completely confused about.

I personally have my sales room on Grants most expensive products and I can personally attest to the fact that his material will turn a complete novice into a closing machine in a short amount of time. The reason most of you are hating on him is because your broke and can't afford his products. Haters.

Was anyone really "making fun" of Cardone? Im more making fun of proven a-hole Zman. Looks like I may have found another one.....

As for Cardone, hes just getting eyeballs and clicks. Its the formula of saying something out of the norm or off the wall in a very strong tone to get people talking. Looks like it worked. Thats his business and hes successful at it. He probably got you to buy another highly priced package with this video.

Has he converted you to Scientology yet? I hear he has a package for that. Only 10k.

 

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[daivey]

A good school teaches you HOW to think, not WHAT to think.

Most gurus just teach you what to think.

Big difference...

LOLLLLLLLLLLLLLLLLLLLLLLLLLLLL

is that what you think?

 

[458]

Was anyone really "making fun" of Cardone? Im more making fun of proven a-hole Zman. Looks like I may have found another one.....

As for Cardone, hes just getting eyeballs and clicks. Its the formula of saying something out of the norm or off the wall in a very strong tone to get people talking. Looks like it worked. Thats his business and hes successful at it. He probably got you to buy another highly priced package with this video.

Has he converted you to Scientology yet? I hear he has a package for that. Only 10k.

Again, if 10k invested yields a 0.01% increase in conversion which results in a 500k increase in yearly revenue is that value? Is it worth the 10k?
As was stated before, most of the hate in this thread about his products is about the price, this is a reflection of your mentality about pay price to action and the fact that you believe anything that is expensive in this space is a scam.

 

[458]

I have no idea what any of that rambling meant...

But you seem awfully defensive about this product... I'm sorry if I hurt your feelings. That wasn't my intention.

I don't have feelings, I have money.

 

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[ravenspear]

The reason most of you are hating on him is because your broke and can't afford his products. Haters.

Every one wants the best but no one wants to pay for it. Losers mentality.

i dont get that setence..... so why pay for school? why go to school? why study or learn anything????? by studying or learning anything you're just basically buying some gurus products (e.g. what he has to say, as he is his own business.)

Some misconceptions here. I have no problem paying a good price for a quality product. I've purchased plenty of products on business development and real estate.

All I was saying is that I personally don't care about this person's products. I had never heard of him until I read this thread. I have nothing against him personally, I simply disagreed with his philosophy that buying a home with less than $20 million in the bank is always dumb. Given that I was not that impressed with his reasoning in this video, I'm not very likely to buy his products.

Interpreting this as "hating" him is rather absurd.

 

[Shades]

I don't have feelings, I have money.

You sound like one of those affiliate marketing guys who makes a little money and thinks he has conquered the world.

 

[hughjasle]

Man, I'm sad to see a good thread get destroyed like this. Some really good dialog was taking place between guys ACTUALLY in the space. thnx for the mind opening questions and comments. I don't remember all of them but @JScott and his full on break down was cool to see as well as @biophase with the numbers break down on buying multiple units vs 1 large home was neat and mind opening as well.

I have always rented myself as I have moved a lot. Personally I'm sick of it. I have a wife and two kids and are a lot like @MJ DeMarco in that we want a home base. We want to make our 'resort' our home and our everyday life. I have no idea if that is financially smarter or not, but at some point it becomes a want. And we can afford it without issues, so maybe that's the difference? Like buying a nicer car vs a beater. A beater does the job and saves you the most money in the long run, much like renting can do. Yet, I see very few people staying in beaters for the sake of saving that money.

Anyways, thanks again to all those who provided clear insights and commentary on this topic. Very cool hearing both sides and seeing some of the outside the box thinking.

 

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[458]

You know, you have a post from three months ago saying that you have $100K in the bank and $15K in monthly revenue.

Now you're talking about "having money" and how .01% conversion increase is earning you $500K in extra income a year.

If you're gonna tell stories, at least try to keep them straight...

Regardless, might I suggest you work on the feelings things; empathy is a huge driver of success, in my experience.

15k a week three months ago, looking to do about 20k this week. We appreciate your concern in this matter and your query has been forwarded to our customer service department for further review.

 

[ZCP]

Did I miss the benefit of mortgage interest being tax deductible being discussed?

Rent... no tax break. Own with mortgage... tax break. It makes owning cheaper for me. Add that there will be no landlord throwing me out, and I own. Am in no hurry to pay off the mortgage either as I can invest the money elsewhere at a higher return (and still keep the tax break).

Now once the kids are gone, I want to live in different places at different times of year. So Airbnb, timeshares, short term rentals will be the play.

 

[CPisHere]

As someone who went to a top-tier engineering school and a very good business school, yes, I do think that. In fact, I know that...as I've gotten an education at two such schools.

There's a reason why the successful Silicon Valley companies and big banks are filled with people from schools like Stanford, Harvard and MIT -- those schools teach more than just facts and figures...

Perhaps you don't spend a lot of time with people who have been to these schools, but if/when you are, you'll see what I mean. It's not just coincidence that VCs look at what school you graduated from when considering an investment...

Btw, I'm not saying you need to go a good school to learn how to think or that you need school at all to be successful. But, it's most certainly true that if you want to learn critical thinking skills, there are certain schools/programs that are better than others.

Maybe we need another thread on this...

My personal impression is that the "learn how to learn" concept is not particularly better taught at Ivy League etc schools at all. It's merely the fact that you are around so many high performers that you hold yourself to a higher standard of achievement. And of course the connections to alumni/class-mate high achievers helps too.

 

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[Torobaro]

Robert Kyosaki & Grant Cardone use a different definition, and would say it's not an asset unless it pays you.

Robert Kyosaki also says something very powerful. It´s cashflow what makes you rich (not assets that can appreciate) and cashflow that comes from a rented property is the best cashflow there is.

I just recently realized how true it is, once the stock marker recovers I´ll sell and never get back

 

[Tony Tony]

How about putting your money into a house, then taking a home equity line of credit and using those funds to buy the rentals you want?

You can write off the interest, take part in appreciation, and get the rentals.

You get the best of both worlds. It doesnt have to be either/or unless you are trying to buy with nothing down.

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