Grant Cardone is a 5x Best-selling author, real-estate mogul, and founder of the 10x movement. He's a star of the hit show, "Undercover Billionaire" and is on a mission to help people around the world create wealth and prosperity for themselves and their families.
What David Spisak and Grant Cardone discuss in this episode:
- Grant started by selling material to car dealers throughout the United States. It took him three years to make any money and for dealers to start catching on to his concepts. Once it took off, Grant was making a million per year but didn't know what to do with the money. He didn't trust the stock market and started studying real estate on the weekends.
- For twenty years, Grant took all the money from his day job and was pouring it into Real Estate. Four years ago, he started talking about it after he had 4000 apartments.
- People couldn't understand how a training salesman could afford a plane. They thought it was all coming from book sales. In reality, it was the cash flow that was coming from his real estate investments.
- Most people want to stay in the box and trade time for money. Most people make it worse by making it worse by trading their money for something of lesser value.
- The median average savings in America is $3500, while most Americans do not have $400 in a bank account in case of an emergency.
- We're not financially illiterate, we've been misinformed by the institutions so that they benefit.
- With assets like real estate, you get to produce cash flow into perpetuity without any fees whereas when transactions occur with an institution they benefit from the fees.
- Grant recalls an experience as a child when his father gave him a quarter that he accidentally lost in a manhole walking down the street. His father exclaimed, "NEVER PLAY WITH MONEY!" In contrast, Grant's grandfather who came from Italy with nothing, who made something of himself and who always carried stacks of cash pulled Grant aside and said, "I'm going to give you another way to look at this: Never go anywhere with just a quarter."
- That one experience helped shift Grant's entire perspective on money and how to utilize it to get what you want. Money is a tool, and it should be viewed as such.
- Grant is extremely disciplined with money because of his mother's influence. When Grant's father died, it was up to his mother to safeguard whatever they could earn because she didn't have the skills required to provide for the family.
- The middle class is poor people who think they are rich.
- Convert your cash into an asset that drips more cash. Grant only lives off the drip and goes to work every day to resupply the asset.
- Grant shares a behind-the-scenes look at how 10x events became what they are today.
- Are you spending your time or investing your time?
- Listen to the full episode for even more insights from Grant Cardone!
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Thank you, Grant Cardone
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