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- May 5, 2014
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Why not take the profit at $280k or higher as they are selling like hotcakes, I would go for $300K and see if it sells in a week instead of a couple of days and reinvest in more doors. The bank will give you way more money now you have a bigger down on your next buy I am sure and if you've been living rent free I am sure you have stacked a bit of cash. This is how Grant Cardone did it. I suggest taking a look at his philosophy on this. He states it pretty clearly on Youtube and it has gotten him to the $500 million level. BTW he has a private real estate fund that you can invest in (if you are accredited) which if I was I would do instead of dealing with the real estate and no I am not affiliated with the guy, invested in Grant or work with him in any way. I just love his story and how he has amassed his fastlane success. It sounds like you are set up in similar way he was in his early days. My bottom line is take the money out and re-invest it HARD. Make that money sweat for you. More doors pay down more down more real estate. All the best.
I have no doubt that Grant Cardone is a great business man and investor. But I have never once seen him legitimately teach someone about investing in real estate, his strategies, analysis, target markets... nothing its all hype along with saying he owns alot of real estate.
I think the way his business works is that he has partners that do the real estate and he is the money guy who happens to own various other sales based businesses that can afford him a large enough income to invest with his partners to own real estate. Im sure he'd like to say he owns 300-500MM in real estate but the truth probably is that he owns that with partners and is syndicating assets which dilutes what he actually owns and possibly does.
just my 2c on him..
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