Grant Cardone’s Top Real Estate Tips
If you're a fan of Grant Cardone, here are some of his top real estate tips.
You may not have heard of Grant Cardone. But if you are wanting to make a mark in the real estate investing world, then you should learn about him. And more importantly, pay attention to the advice and tips he offers. So, who exactly is Grant Cardone, and what are his top real estate tips?
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Who is Grant Cardone and what is he worth?
Grant Cardone may not be as well-known as some of the A list celebrities walking the red carpet. But he certainly has made a name for himself in the real estate world. Freshworks writes that he has built a $750 million empire and is truly considered to be a top international sales expert and real estate tycoon. It is no small feat having your own university, and Grant has over 20 million user logins at his online sales training university. If this does not make you stop and pay attention to what he has to say, then nothing will. Grant Cardone made his first million dollars in real estate by the time he was 30, and if he can do it, then so can you!
So, what are his top real estate tips?
Tip 1. Start small
While it may be tempting to drop everything and start investing in the big leagues, Grant himself advises against this. Starting small is considered his most important real estate tip. He goes into more detail on his Grant Cardone TV website. He writes that success comes from experience, and experience takes time. One benefit of real estate is that it allows you to start small. There are large-scale opportunities available, and these may seem tempting. But if you know where to look, you can find good deals and can easily enter the market with little startup capital. This way you have less to lose. This also provides an opportunity to learn the ropes so you can be more successful when you do go bigger.
Tip 2. Start early
According to Cleverism, Grant Cardone claims that if you want to be successful in the real estate sector, you have to start as early as possible. There is no cut off age, so if you feel you are past your prime then do not worry. The important thing to take from this tip is that it is never too early to start, and the sooner the better. The reason for this is simply that the earlier you start; the more time you have to learn everything you need to know. There is only so much that you can learn from books and education, and the only way you are going to become sufficient is through practical experience.
Tip 3. Do not rush your portfolio
The third master tip from Grant Cardone also comes from Cleverism, and centers around not rushing to expand your portfolio too fast. While you may think that the more impressive the properties in your portfolio, the more successful you are, this is not necessarily true. This is one instance when quality over quantity is best. Grant Cardone advises that rather than rush into every deal that becomes available, you should monitor the real estate market and take advantage of positive opportunities when they become available.
Tip 4. Avoid buying a house to live in
This tip may surprise many people. It is on many wish lists to purchase a house and then live in it. However, Grant Cardone disagrees, stating in an Entrepreneur article he wrote that ‘buying a house is for suckers’. Unlike an investment property, a personal home is considered by Grant to be a liability rather than an asset. It would be better to save the money you would spend on a mortgage and home repairs and invest it in yourself or your real estate business. Most mortgages are 30 years minimum, and if you are not earning income from the property, then it is not helping you on your way to becoming a real estate success.
Tip 5. Never invest in one door
Grant Cardone is somewhat famous for his idea that no investment should be any smaller than a 16-unit multiplex. He talks about this in his online course, stating that you are bever going to generate enough cash flow to generate sufficient passive income by investing in a single house, duplex, or small property. His magic number is 16, and in his eyes, anything smaller than that is not going to be worth the effort and expense.
Of course, a 16-unit multiplex is going to be extremely expensive and is not advised for those just starting in the investment world. But it is more of a long-term goal. His first tip was to start small, however once you become more established, then it is definitely a good idea to start thinking bigger and following his advice of purchasing only larger properties.
Following the teachings of Grant Cardone
There is no denying that Grant Cardone has experienced an extraordinary level of success in real estate, and he loves to share his wisdom with others. His top 5 tips will help you on your way to becoming a success, but it is important to understand that none of these steps will bring you to his level overnight. It took many years for Grant to grow his portfolio and real estate assets to the level they are now. But if you take his tips under advisement, you will have a good start.
If you like so many others, admire Grant Cardone, and see him as a role model, then you will appreciate the tips he offers so freely. You may need to adjust some of these tips to suit your current position in the real estate market, however these are tried and tested, and Grant has shown that it is possible to be hugely successful in real estate if you know what you are doing and are smart about your investments.
Charles is the founder of infoSpike.com. His real estate investing experience started in 2004 and he is currently focused on rental property projects. He enjoys learning about real estate investing, personal finance, and marketing. Read more about Charles here.