Next Level Pros - #26: Grant Cardone: Founder Of Cardone Capital, The 10X Man, Author, Real Estate Legend

Episode Date: August 18, 2023

In this episode of The Founder Podcast, host Chris Lee sits down with the legendary entrepreneur and business mogul, Grant Cardone. Grant is known for his immense success in various industries, includ...ing real estate, sales, and personal development. In this insightful conversation, Grant opens up about his journey to success, the principles that have guided him, and the lessons he's learned along the way. Chris and Grant delve into the specifics of Grant's journey. They touch upon his rise from age 50 onwards, acknowledging the pivotal moment of the 2008 economic collapse that greatly affected his net worth and led him to rethink his approach to business and life. Grant describes his transition from a conservative mindset focused on saving money to a more ambitious and risk-taking approach. Reflecting on his personal journey, Grant shares how he embraced the philosophy of the 10x Rule, which pushed him to expand his vision and set bigger goals. He attributes much of his success to this mindset shift and his willingness to take scalable risks in various industries.  Grant emphasizes the value of investing in oneself and the business, even if it means living with less for a period to achieve greater success in the long run. Overall, this episode offers valuable insights into Grant Cardone's mindset, journey, and strategies for achieving success on a massive scale! HIGHLIGHTS “The 10x rule is basically a concept about we set goals and targets and we find places that comfort are too small." "I was successful... from 25 till 50... I did no dumb stuff. I did everything very conservative, saved my money, paid off all debts. But I also didn't take any scalable risk." "The first thing that changed was... I have to figure out what did I do wrong? I have to figure out what is the thing I did wrong, identified that. And what I did wrong was I went too small." TIMESTAMPS 00:00: Introduction 01:26: Net Worth At Age 50 06:02: Writing The 10x Rule 12:02: Importance Of Rest 20:39: Cardone Foundation For Financial Literacy 24:50: Advice To A 21 Year Old 27:25: Teaching Sales & Marketing 32:12: The Money Pit Of Real Estate 35:59: Only Way To fail Is To Quit 🚀 Join my community - Founder Acceleration https://www.founderacceleration.com 🤯 Apply for our next Mastermind https://www.thefoundermastermind.com ⛳️ Golf with Chris https://www.golfwithchris.com 🎤 Watch my latest Podcast Apple - https://podcasts.apple.com/us/podcast/the-founder-podcast/id1687030281 Spotify - https://open.spotify.com/show/1e0cL2vI1JAtQrojSOA7D2?si=dc252f8540ee4b05 YouTube - https://www.youtube.com/@thefounderspodcast

Transcript
Discussion (0)
Starting point is 00:00:00 This is why I wrote the 10X Rule. The 10X Rule is basically a concept about, we set goals and targets, and we find places of comfort that are too small. Welcome to the show. Today I am joined by Mr. Grant Cardone. As many of you guys know, Grant owns several different businesses.
Starting point is 00:00:17 He's been the founder of all kinds of really cool things. He owns a private equity real estate firm, Cardone Capital, has a multifamily portfolio worth of over $4 billion. He's raised over a billion dollars through social media platforms, through crowdfunding. He's also been featured on season two of Discovery Channel's Undercover Billionaire. He's got New York Times bestsellers with the 10X rule and written several different books. He has such a cool story and we're going to jump into it today and get to know Grant a little bit more. Welcome to the show, Mr. Grant. Chris, thank you so much. Thanks for having me, man.
Starting point is 00:00:54 Yeah, man. Excited to have you. So Grant, dude, you're 65 years old and based off of what I know about you, what I've read about you, the books I've read, you know, a lot of your success and career has happened in the last 10 to 15 years. Like what changed over the last 10 to 15 years? I know you had a lot of success early on. Tell us a little bit about your story. Yeah, so, you know, I mean, short story on a long story is, I mean, I was successful the first, I guess, from 25 till 50. I was fairly successful, but it was just a lot of hard work and saving money and, you know, being disciplined and not doing dumb stuff. I was listening to an interview with Charles Munger and Warren Buffett this morning.
Starting point is 00:01:46 And like two or three times they talked about just avoid the dumb stuff, you know, and don't do stupid stuff. From 15 years old to 25, I was doing dumb stuff every day. 25, I quit doing the dumb stuff. And from 25 to 50, I did no dumb stuff. I did everything very conservative, saved my money, paid off my debts, but I also didn't take any scalable risk. You know, I didn't put myself, I was in the game, but not really. You know, keep going.
Starting point is 00:02:22 Sorry. No, go ahead. So at age 50, like what was was your what was your net worth at age 50 so i know you had success and you you'd done about what was your net worth around that time man i don't i should i should go pull a balance sheet up from from from uh i guess that would be night of 2008 i mean we're going into a collapse right so 2008 before this thing actually happened i was probably worth at that time um let me see i had 600 units no i had 236 units a grocery store a land development deal in la jolla and i had the automotive business and the in the the seminar business and the maybe I was worth, I don't know. This is before the collapse, maybe $6 million.
Starting point is 00:03:07 Yeah. Maybe $8 million. So which was healthy, right? That was nice. You were doing some cool things. But Chris, the collapse happened. Right. So that's six or eight or 10, whatever it was.
Starting point is 00:03:23 It floats. With real assets. You know, they're floating all the time. Right. Right. My first business was, it had income, but it had no value. My second business had income and a little bit of value until 2008 fully, uh, extinguished it.
Starting point is 00:03:40 Uh, and then because that second business was dependent upon car dealers and half of them went out of business. And the guy didn't ever want to exit. He was a partner in business. He had no exit plans. He just wanted income forever, which is a terrible idea, by the way. But some people do. Yeah.
Starting point is 00:03:59 And then the real estate gets frozen in 2008, 2009, and 2010. Right. So by the time the collapse happens, I'm probably worth a couple of million. Jeez. So 2010, 2011, you're worth a couple million. If I recall, 2011, you write the book, The 10X Rule, right? Yeah. What would you say was a big turning point from going from worth a couple million
Starting point is 00:04:26 to now worth hundreds of millions? Your last 12 years have been freaking just phenomenal. What was the big turning point? Well, it was thinking, definitely thinking. It was definitely adding people. And ultimately, it was probably about $7 billion. So the- $7 billion.
Starting point is 00:04:49 Yeah, we've never done an exit and the income producing companies outside of real estate, there's probably, and they're sellable today. Right. Whereas that first company was never exitable. Somebody would find value in this company. It's basically negative capital intensive, and they've got to be worth $3 billion today.
Starting point is 00:05:19 The real estate's worth heavy capital costs in the real estate. It's worth heavy, heavy capital costs in the real estate. It's worth $4 million. The card on capital that manages the real estate is worth something. Right. So take me back. Yeah, go ahead. So take me back to like middle of the crash, right? So you're worth a couple million bucks, right?
Starting point is 00:05:43 You're 50 years old or just just after 50 like like what's going through your mind like what what decision did you make at that point that's that's catapulted to this amazing yeah well what was going through my mind was and this may sound ridiculous to people but i'm like i'm i i and I fucked up. And, you know, like for those of you who don't understand that concept, it's like I had worked for 26 years and saw my entire net worth over a weekend when the lean-in collapsed go from, dude, I was good, and then all of a sudden I wasn't good right and this is why i wrote the 10x rule the 10x rule is basically a concept about you we set goals and targets and we find places
Starting point is 00:06:33 of comfort that are too small they don't have you know insurance for the average american today like if you have three months of savings you think you you're good. You're not good. Okay. You don't need three months of savings. You need assets that save you for 30 years. Cashflow. And unfortunately, this, this, the financial planning in this country and the financial illiteracy and the indoctrination and, and the popularity of these, these, these financial gurus telling you guys to pay your debt off and to basically have three months of savings is ridiculous because millions of people tens of millions of people lost their homes in 2008
Starting point is 00:07:15 and they've never recovered from it right and so so you know the first thing that changed was i realized i was like that I had fucked up. And that admission happened. You took the personal accountability, right? You're like, this is not on anybody else. This is on me. This ain't a team deal, bro. I watched the Celtics get their ass whipped last night.
Starting point is 00:07:40 And then one of the players was like, yeah, we just didn't play as a team. Bro, first thing you got to say is you fucked up. You got to say, I messed up. And then, by the way, if you mess up, the team's going to mess up. In my case, I didn't have a team, right? It was me and a couple people. That's not a team. That's a group, a small, tiny group of basically three musketeers.
Starting point is 00:08:03 Three musketeers didn't do anything great ever. And you need an army. So, so first thing I did was, oh, I screwed up here when I thought I was good. Second thing is I got to realize what, what did I do wrong? I have to figure out what, what is the thing I did wrong? I identified that. And what I did wrong was I went too small. So when I wrote the 10X rule, when I wrote that book you showed or talked about, I'm like, oh, I get it. I needed 10 industries.
Starting point is 00:08:38 I had one industry that paid me money. I had one industry that paid me, two companies that basically could go out and get it. And then I dumped it into the real estate. The two businesses were both slaughtered. I mean, slaughtered, bro. Like one day they were doing great. The next day they literally could not pay bills. Right. And I was not part of the mortgage crisis. I had nothing to do with the mortgage crisis. I did not buy a bunch of houses. The 200 units that I had actually in the shopping center actually cash flowed me through the collapse.
Starting point is 00:09:11 Wow. So when I wrote this, this book was not really written for other people. I was literally trying to figure out what am I going to do to get a bigger audience? How am I going to scale to other industries? So back then we talked to one industry every day and, uh, which was automotive. And today automotive was literally 100% of all my revenue. Today, automotive is less than 1% of my revenue. It's amazing. Yeah. I think, I think in your, uh, your book, be obsessed or be average, you actually refer to the 10X rule that it was kind of like your personal manifesto.
Starting point is 00:09:47 Basically, it was a rule book that you were writing for yourself that you wanted to live by. Yeah. And so I think that's so awesome. And I think it's important for just listeners and whatnot to understand that nobody's got to figure it out. Even if we write it and think we have it figured out. Like we really all have to go and do the work. And so you wrote the book and then you started basically living the book. Yeah, exactly. And so, you know, I look, you don't have it figured out until you figure it out.
Starting point is 00:10:18 And then once you figure it out, you know, people should document what works so they can pass it on to other people. And that's all we were doing. Cardone University. Cardone University was originally created as a documentation of what was working for me so I could share it with other people. Yeah, I'd love to sell that product. We're creating a product right now. I'm in the health business.
Starting point is 00:10:41 I just started the health business. I just started the health business. We're documenting every single thing we do in writing and in video in hopes that, one, it holds us accountable. Two, when I play it out, when I play it out in video and I'm like, did that work or not work? And then three, because I'm going to sell that as a product because I'm going to make it work. You can't sell products that don't taste good. Right. that as a product because I'm going to make it work. You can't sell products that don't taste good. If you make cookies, this is how all cookie recipes have been made. People that get into the lasagna business or the cooking business,
Starting point is 00:11:14 somebody comes to Annie and says, oh my God, you should have these cookies in stores. Why? Because they taste good. That's what we do with all our products. Cardone University, this healthcare thing that we're going to do, we're going to show people how to fill retail spaces up. So like dentistry, chiropractors, I'll go in, we'll do it. We'll make an experiment of it. We'll video it while we're doing it. And then I'll have a third product that basically comes
Starting point is 00:11:40 out of that. It'll make the company better. And then we have this product that comes out of that. It'll make the company better. And then we have this company, this product that comes out of that where other people want to grow their business in the same way. So that's what I was doing with the 10X when it became a book. It's awesome. Yeah. I think the big thing is like you live all your products, right? You live your real estate, you live your sales coaching, your health, right? You're 65 years old, man. You look like you're freaking, you know, you're running around like you're 30, you know. Yeah, thank you. I love that. Love that, man.
Starting point is 00:12:10 I aspire. I'm 39 years old, so I aspire when I'm 65, 70 that I got the same energy you got. Oh, thank you. Pretty awesome. But, man, it's been really cool. I've actually seen your journey from very – you did your first conference down in, I think it was in Cancun. Yeah. When was it, 2012 or 2013? What year was that?
Starting point is 00:12:32 Man, I don't remember when it was, but I remember how many people were there. There was only like maybe 60 people or something, 60 or 70 people there, right? Yeah. Yeah. I actually sent a couple of my sales reps down there. My brother was down at your first conference. And just watching that and then just morph into what 10X Con is now has been kind of fun to watch and be a sideline viewer and seeing all the action that you're taking and then watching you build this real estate empire because, you know, 200 units respectable. But now, you know, fast forward four billion dollars worth of real estate assets. That's that's phenomenal, man. Just just applaud you. What are what are like some daily habits, daily routines that you have that you've been able to
Starting point is 00:13:20 use that have compounded over the last 15, 20 years? Well, the, for the, the, the most important one is waking up, man, man, making sure you wake up, you know, um, ideally wake up when you say you're going to wake up. Cause that's where it all goes downhill from there. Like make a decision when you're, when you're going to go to sleep at night and when you're going to wake up. I was talking to Tom Brady about this. Um, I mean, he controls what time he goes to bed, right? So that's when he controls when he puts himself down. And if I had known that when I was a kid, 17, 18 years old, I wouldn't have gotten 90% of the trouble that I got in. I would have never gotten in trouble because everything bad happened to me after nine o'clock. almost nothing bad happened to me during the day right um and um so one you know pick a time to go
Starting point is 00:14:13 to sleep boom go down get a good night of rest yep rest is really important uh i was i was watching something elon was talking about the other day about he's got to get six hours less than that. He's getting less done during the day. And I know a lot of people out there are catching 4 a.m. in the mornings. And that might be good for training, physical training or hunting or other stuff that you're doing. But in business, man, I need to be clear. I need rest. As you age, you're going to need more rest.
Starting point is 00:14:43 I had a shoulder injury recently, so I'm actually trying to get more sleep right now, not less, to recuperate from that. Sometimes it takes longer as you get older. So one, I wake up in the morning, dude, rested. Two, the second thing I want to do is I want to go get a workout in. Third thing, I want to get my recovery time in like i'm i'm again i had to add some things as you as things change as life changes you add stuff so uh then i come to the office and you know somebody tells me what to do for the rest of the day uh there's one thing that i do do in there that's a ritual that uh every morning i get a um i think I got it. Yeah, yeah. I've looked at this thing so often now that every morning I get a report of where our cash accounts are.
Starting point is 00:15:33 Every cash account that we have. KPIs. Say again? You got those KPIs, the key performance indicators coming in, the cash accounts. Yeah, yeah, yeah. That's more just like more than a KPI. In this case, it's I want to see where the dough is. I've been doing this for a long time now. I remember doing this when the account was zero.
Starting point is 00:15:55 And my goal, by the way, is to get the account to zero. So I'm going to look at my cash accounts, and I'm going to look at assets that I'm moving cash into. Because what I'm trying to do is accumulate assets, not cash. Right. Yeah. Cash is trash, as you say. So I'm with you on that. The ultimate solution is if I can actually play this game of accumulating cash to move to an asset and stay in broken cash, what actually happens if you're buying the right kind of asset, you can never not have cash. So it's a crazy kind of phenomenon. I'm literally trying to get rid of cash. If I buy the right asset, I end up with more cash than I
Starting point is 00:16:38 actually, I end up with a cash problem. So you wake you get, you get good rest by going to bed at night. You have a good morning routine. You take a look at your cash balance. Awesome. So, so you have all this. I know, I know you also have a pretty awesome family life. Like your, your wife, Alana, she's, she's definitely kind of like your rock foundation. Like what, what are, what are some best practices that you put into place for your wife and your two daughters and and making sure that you you have a good foundation there yeah so you know uh my wife and i actually sat down this morning because i'm in a place in my life where i'm trying to figure out okay what's next like how do i go to next? Right. And so we sat down this morning and, you know, I said, baby, I got to figure out.
Starting point is 00:17:28 And if you guys ever get, if you get lucky enough to get a wife like I have, man, you've hit freaking ultimate, you know, that is the ultimate thing. Having a wife is awesome. I have a pretty awesome partner as well. So I think that's foundational to being successful just in anything in life. So it's just having that partner. Picking the right partners, the right friends, the right wife. Again, man, stay away from stupid. Right.
Starting point is 00:17:56 So I had plenty of stupid. I could have done a lot of stupid in my life that I've avoided. Sometimes you need to count the stuff you avoid doing too, Chris. So anyway, this morning, my wife and I just literally sat down and said, I said, I got to figure out the next thing. Because I'm like, okay. It's like, what's the game now? Right.
Starting point is 00:18:23 Yeah, because you're never satisfied. You're always looking for something to get out of bed for, right? Like to be excited about. I had one more building, okay? I had one, what am I doing and why am I doing it? So she says, let's just play a game, okay? She says, what if you 10X the income of the company now? And I said, okay, then we go from 150 million a year in the internet sales
Starting point is 00:18:46 and 340 in real estate income to what would that be 500 5 billion a year right that's a big deal i'm like man 5 billion a year i don't need all that money the first thing i did was i do exactly what everybody else does you know you stretch the rubber band and wants to go back to its old size right yep i'm like what do i need five billion dollars for i don't need five billion now i got to pay three billion in taxes i only got two billion left though but what am i gonna do with two billion dollars i don't need that she's like play the game grant play the game you know and i'm literally like ah you know why i do it you know but then when i start playing it i'm like okay what would i do you know and I'm literally like ah you know why I do it you know but then when I start playing it I'm like okay what would I do you know I would definitely buy a yacht I'd buy a 300 million
Starting point is 00:19:31 dollar yacht uh I'd waste 30 million a year on it I'd go buy a big ranch that I go to once or twice a year and then I start thinking about okay what would I do with this thing? And I would expand, I would take a bunch of money and expand. I'd probably take some risk on some AI technology stuff to add to our 10X health system and see if we could scale that worldwide. You know, so it typically what happens for me is in that doing that exercise, it just kind of resonates with me for and starts to kind of work itself because i'm still thinking about it five hours later now right get you get you get yourself out of that comfort zone because exactly like you said when when you stretch your rubber band everything wants to go back to it but then but then you start okay like how can i get
Starting point is 00:20:20 comfortable in that stretched out state like what what, what is possible? Like you start dreaming, you start man scheming. Love it. Yeah. You know, so good, man. Yeah. And, and, you know, I'm like, Oh, how much money would I give to charity? Oh, I could give, I give $10 million to my favorite charity every month. So amazing. And, and, uh, you're, you're building a, a, you have a Cardone foundation, right? In which you guys do you focus on educate financial literacy for for kind of underprivileged and whatnot. Tell me a little bit about that. Yeah, a grand card on foundation.
Starting point is 00:20:54 The focus of that and we have some latitude, but is to help kids that are in situations maybe without a father like I had, but mostly in situations where they don't have opportunity, they're being miseducated, don't have mentorship, guidance, no financial literacy. They're in school systems. They're being forced to listen to some school, classroom, teacher that they don't want. We just had Pitbull's, what's that called, slam?
Starting point is 00:21:22 His whole school came over to our offices they were collaborating on so amazing his kids were tripping today 15 year old kids don't look like me uh they don't have the opportunities that that my kids have and they were here to learn about money finance marketing business you know and you can tell so amazing. I think that's one of the greatest causes that anybody can undertake because, yeah, the financial literacy of the United States of America, the world is insane, right? Like we don't teach it in schools. We don't teach it anywhere.
Starting point is 00:21:56 And it's guys like yourself and myself that it's up to us to, like, get it out to those people, and I think it's phenomenal what you're doing. Poverty, poverty is a you're doing. Poverty, poverty is a disease. Amen. Poverty is a disease more deadly than COVID, heart disease and cancer combined. Oh,
Starting point is 00:22:17 absolutely, man. So if you could do it all over again, grant, right? So you're 65 years old. If you could do it all over again, what would you do different?
Starting point is 00:22:27 I wouldn't go to college. I would never spend one second on drugs, any kind of drugs. From 15 until probably 45, I would have left all women alone. I would not have taken a bullshit test about what i'm good at uh my mom had me take a test i think she spent 1600 bucks on that test that said i should be an accountant okay and i would study uh i would study where money's going i would study where people are going where eyeballs are going where where you know i you know so those are some things i would not do again i would avoid all the where money's going. I would study where people are going, where eyeballs are going, where, where, you know,
Starting point is 00:23:06 you know, so those are some things I would not do again. I would avoid all the losers, dude. Like if I went to college, I would only probably go to three or four or five colleges. And I would only go there for the hookups, like to, to meet,
Starting point is 00:23:19 to meet the power players. I would have become a golfer. Probably. I would have learned how to golf because there's money at golf clubs. Maybe not. I didn't probably need to do the golf thing. Are you much of a golfer?
Starting point is 00:23:35 My mom wanted me to play golf. She wanted me to take up the sport and I wish I would have because I would have met a different group of people. If you could pay for golf, man. So let me just tell you, it's not too late. My buddy Casey, he's the largest mobile home.
Starting point is 00:23:59 They own 250 mobile home communities. And he does capital raising for all kinds of private companies and whatnot. He just took up golf two years ago to do exactly what you're talking about. And he went and got 11 different country club memberships and his whole model is he gets in contact with guys and he's, he's taking lessons and everything. I mean, you're, you're speaking, you're speaking the language, man. I mean, that it's, it's so true. There's so much money on the golf course. It's insane. Yeah. But I wouldn't need to do that when I was young, you know, because it would have, it would have, it would have gotten me around the male figures that I needed to be
Starting point is 00:24:36 around. You know, fortunately a crowd, the Instagram and YouTube and LinkedIn are my country clubs today. Right. Right. Who knows? Maybe I wasn't fit to be in the country club anyway. So advice that you, so this is all great advice, I think, for young guys that are trying to start it over. So 20, say to the 21 year old, he's thinking about starting his first business. He's got that itch.
Starting point is 00:25:04 He sees Grant Cardone having massive success. He sees all these different internet sensations that have had 9, 10, 11-figure exits early on, and they got that itch to go be an entrepreneur. What advice do you give to that guy? I don't know that I would start my own business. I would probably go – I'd work for a guy like me or with me. I'd find somebody that's already rolling, dude. I'd find somebody that maybe has more courage and money than they have time.
Starting point is 00:25:39 And I'd figure out how to extend their deal. Paul Allen was one of the richest people in the world he worked for bill gates right so you don't have to own the show right like you don't charlie munger is going to do just fine being a partner with warren buffett so i don't i think this i think this idea of of working for yourself is like it's some kind of jesus complex or something you know like ridiculous. Most of these influencers, by the way, are going to end up with nothing.
Starting point is 00:26:11 Right. Okay? Not all of them. Some of them, they're awesome and phenomenal and they're great and they're doing what, you know, they're using the social platforms the same way I am, but that's a rare rare exception most of them will
Starting point is 00:26:26 end up with nothing because they're not building businesses they're building personalities right so so if i'm if i'm here if i'm hearing you right like go find somebody that's doing it it's it's way easier to expand their empire than to build one from, from the foundation up by yourself. Yeah. And don't go do what you want to do. Don't go do something that you're like, you know, everybody's like go find the thing that you're passionate about. No, I'll go find something that works and get passionate about it. Amen. What about, what about, what about sales? I mean, what, what do, what you're obviously you're a big big sales guy you what uh
Starting point is 00:27:06 what recommendation do you give to the young budding entrepreneur regarding sales i would tell you like to to become better at marketing than sales marketing makes the sales easier get more eyeballs you know the guys that teach sales courses only haven't figured out the marketing. I'm talking about myself. That's why I taught sales, hardcore, every angle sales because for years, by the way, and if you look at what I was teaching then, you can also see the size of my business. It was tiny. Okay. They're companies that focus on sales or small companies typically okay
Starting point is 00:27:46 companies that focus on marketing and they flip the model google facebook coca-cola these companies man they they focus on scale and mark marketing and branding um and and and then the internet companies that don't worry about either one of those because they get their money from investors and they focus on technology or service, but they're talking about something, a scale, right? So if you're a small business owner, you need income right now. That's what a sale is. While you're getting that income, if your daddy's teaching you to save money,
Starting point is 00:28:23 what's going to happen is you're going to make a sale, you're going to get some sale and you're going to get some money. You're going to save it and you shouldn't. It's a mistake. You should be spending, using that money to market your business again. And I believe that all back in dude,
Starting point is 00:28:36 all of it. And, and another 20%, 120%, you should lose money in the beginning. Amen. And you should live with no dough and you should not change the quality of your living. Your company could be making six or eight,
Starting point is 00:28:49 $10 million a year, and you would still be a broke dick. Okay? Because you're reinvesting your money in the business and you don't have any money to buy a new car. This is a mistake these young guys make. They're like, oh, I'm making $6 million.
Starting point is 00:29:04 No, dude, you just went and bought a car. You don't even need that car yet. You went and bought a watch. You're getting ahead of yourself. To guys like me, by the way, it's completely obvious what you did. You know? Right. And if you're trying to raise money for your company,
Starting point is 00:29:20 don't show up in that fancy car with a watch on and your Gucci shoes. Nobody's impressed that has money. The only people that are impressed are people that don't show up in that fancy car with a watch on and your Gucci shoes. Nobody's impressed that has money. The only people that are impressed are people that don't have money. That's right. That's right. So save the money. Invest it right back in. Don't be spending on stupid luxuries.
Starting point is 00:29:37 Buy real estate. Buy investing into your marketing, investing yourself. Just scale. I mean, just invest, invest, invest. And then ultimately, you'll be sitting with, as Mr. Cardone here, how much is your watch worth right now that you're sporting there? This watch? I don't even know, man.
Starting point is 00:29:55 I don't know. It's a ridiculous number. I know that. And it probably, it's a stupid investment. It's completely ridiculous. $700 maybe? I don't even know. It's a 40 investment. It's completely ridiculous. 700 maybe? I don't even know. It's 40-year anniversary. But ultimately, you weren't wearing that thing when you were 50 years
Starting point is 00:30:10 old, right? You're wearing that now that you have- I was wearing one Rolex. I was worth eight or 10 million dollars. I had one Rolex and a Lease BMW. And I had a Lease BMW that had four doors because I wanted to put customers in that car I never rolled up in a little sports car trying to look all hot and sexy and cute and uh I mean I had some of that stuff right but but it wasn't for that like it was not it was all about grow the business grow your brand now do I do the flashy stuff on Instagram? I sure do. Okay, but that's not who I am as an investor. Right, that's getting you eyeballs.
Starting point is 00:30:52 Yeah, most of this stuff I regret, by the way. Like you could take my, I got a Rolls Royce Cullinan out there. The first one I bought, we bought it for our conference to roll. Like a lot of people don't know these backstories to what i do right they're like cardone's got a rolls royce okay good you know how many cars i could have compared like to some of these other cats have i could have 60 cars exactly i don't have a ferrari i don't have a uh
Starting point is 00:31:19 what are they called the lambo okay uh the cullinan the first Cullinan was bought I could have bought uh the first the first Rolls-Royce was given to me by Rolls-Royce to be an ambassador for the company I was paid to drive their car prior to that dude I had the biggest car I had was a Mercedes on a lease, by the way. So awesome. The first Rolls Royce, by the way, Rolls Royce got me hooked on. Because they gave me that car. The second car, their second Rolls I had was a Cullinan, but it was used at the Miami Marlins Stadium.
Starting point is 00:32:06 Where we rolled it out on a on a stage in front of 35,000 people. It was wrapped in 10X. I'll get you the picture of it so you can add it to the show. Yeah, send that over. Maybe you get that. And in the back seat, we lowered the back windows. Smoke was coming out of the windows. And the music beating on 35,000 people was, Nothing but a G G thing, baby.
Starting point is 00:32:27 And bang, Snoop Dogg succeeded the car. So 100% a tool. You were using that thing as a tool. It was a tool, dude. It was a marketing gimmick, okay? He gets out. I get out, okay? My wife's driving the car.
Starting point is 00:32:43 She's in this hot little sexy limo chick outfit. And I'll send you the clip so you can add it, okay? My wife's driving the car. She's in this hot little sexy limo chick outfit. And I'll send you the clip so you can add it, right? So I saw Snoop about, I don't know, two and a half months ago. Man, you still got that color name? Man, that thing was sick. I said, no, bro. He's like, what'd you do with it? I said, I sold it the day after the event.
Starting point is 00:33:09 Okay? you do with it i said i sold it the day after the event okay wrote off 400 wrote off 440 000 and uh but and then i got hooked on the car so i still have one now just to admit it you know so so i do i mean i do stupid stuff but i do it with passive income. This is what I always tell the young guys. If you can't buy two of them, don't buy one of them. Okay? Love it. Two, if you can't pay for it in cash, don't do it. Three, if it's earned income, don't do it. Only on a passive income. And four, admit it's stupid.
Starting point is 00:33:42 And don't try to – Right, you got to know. admit is stupid and don't try to you gotta know yeah you know i love i love that that uh the view that you have on like a home right like that your own personal home isn't an asset right like and that's why i always tell my wife i'm like look this is a money pit we're never gonna look at this thing as an asset just understand that it's a it's a money suck and that's it we ain't we ain't making decisions here to get our ROI. Right? Exactly.
Starting point is 00:34:06 Everything outside of this is an ROI. Don't be thinking that the watch or the car or the house are somehow an ROI. Yeah, that's right. There's no house. You guys that own houses, you don't need to convince me that it's a good investment. Because you can't. Because it's a shit investment. And you can try to tell
Starting point is 00:34:25 yourself it's an investment but you don't why i don't even know why people trying to convince me of that because it's just a place to live and you called it what'd you call it a what what i so i i just said a money pit man i mean it's a black hole it's a suck hole it's a it's a money pit okay after 12 percent in commissions in commissions, six going in, six going out, 2% a year in property taxes over 10 years, that's 20%. Interest rate, let's say six times 10 years is 60%. Even if you don't pay a mortgage, you still had the cost of money. You could have earned 6% on your money. Either way you cut it, dude, you're not going to make money on a single family home.
Starting point is 00:35:10 And so I don't do up. Doesn't mean it's smart. What's his name? Jay-Z just bought a $200 million house down the street from me. And it's probably a good portion of his net worth, which is crazy. No, no. I think he's worth two and a half big ones right now. Oh, is he two and a half now? Oh, my goodness.
Starting point is 00:35:29 Never mind. He's rolling. Sorry, Jay-Z. My bad, Jay-Z. Look, he just paid $200 million for this Malibu house in Paradise Cove. He owns an $88 million house in Bel Air, 25 minutes away. So he's got 400 million just the property taxes okay are are 20 million a year in 10 years he has to make 200 million dollars just to pay the property just to maintain it
Starting point is 00:35:58 oh my gosh well bro he's rolling so deep he's rolling so deep. He's rolling so deep, it don't matter now. Right, right. Yeah, good for Jay-Z. He's crushing it, man. Okay, so last question. Somebody's thinking about giving up, right? Calling it quits, whatever it is. Whether it's calling quits in live, calling quits in... Do it.
Starting point is 00:36:19 Do it. You're saying give up? Quit, bro. And you're going to find out this crazy thing. This crazy thing on this planet is there is no quit. Because even when you quit, you're going to wake, you're going to look up five seconds from now and say, uh. I'm still here.
Starting point is 00:36:41 Now what? All you do is punish yourself because you're going to quit and have to start. You're literally going to set yourself back. So I believe the only way I fail is if I quit. And when I quit, I can't really quit. I just got to start over again. Right. And there's nothing worse than starting over again.
Starting point is 00:37:04 I mean, it's terrible dude it's nasty oh no i was with you man 2000 2008 i started my very first business in 2010 filed bankruptcy it all it all went went away and i had to had to start from scratch you know and there there is nothing nothing worse but as you said man like really you have no choice i mean once you once you quit you give up you start over you're just like well i gotta keep going so if you've ever you're starting yeah if you've ever gone you know if you've ever worked out and then had to go back and start back in the gym again it's so hard you know getting back in there the first time and the second time getting any kind of momentum going is like so hard
Starting point is 00:37:45 and and so don't stop you know grab your momentum yeah man nothing nothing worse than like going and doing bicep curls for the first time in six months and then you can't even like oh my gosh you're like hobbling around or can't even bend your arms yeah yeah nothing worse i'm with you on that good stuff grant so what's next what's next for mr grant cardone what are what have we found or can't even bend your arms. Yeah, nothing worse. I'm with you on that. Good stuff, Grant. So what's next? What's next for Mr. Grant Cardone? What have we found and what are we pushing to the next level?
Starting point is 00:38:13 I know you said you were talking to Delaina this morning. You got 10X Health. You got the real estate. What gets you out of bed? What's going to drive you to 70 years old? The goals right now are we're going to take, we got $4 billion worth of real estate. I'm going to turn that into at least 40. And I'm going to raise $10 billion crowdfunding.
Starting point is 00:38:39 We're going to get our online business that does 150 a year to, I'm going to get it to a billion dollars a year. Because I can help so many people. Right. And so we have about 350,000 customers. I want to get that to 35 million. But next stop's 3 million, 3.5 million paying customers. So, you know, I got a lot of work to do, bro.
Starting point is 00:39:08 Dude, I love it. Yeah. 65 years old, not putting the, you know, not letting off the gas whatsoever. Man, you're an inspiration to so many people of just keeping crushing it, just keep rocking it no matter what, really like not listening to the excuses because we all have excuses, right? Like there's so many things that you could be playing in your head right now. I already have enough. I've already done enough. Nobody expects anything more out of me, right? I'm Grant freaking Cardone. I've got the 17 million
Starting point is 00:39:40 followers on my social media platforms. Like I don't need to do anymore. I can just spend time doing X with my kids, with my wife or whatever else. And so, man, just appreciate your, your motivation, your drive, your hunger. Like you, you push so many entrepreneurs like myself. There's so many people that are going to be listening to this, that they're going to be like, man, I love that drive. The fact that he's just never satisfied at any level and willing to keep pushing. So I think more people don't like it than do like it, but I appreciate the fact that he's just never satisfied at any level and willing to keep pushing so appreciate more people don't like it than do like it but i appreciate the fact that you do like it man grant you know the the haters are just louder man and every everybody else is just cheering silently in the corner and and uh you know for for all those haters give them give them a message what what do you want to tell them give give those haters a
Starting point is 00:40:25 message look for everybody that admires you know admires uh that admires my hustle you know then that means it's in you or you couldn't see it and and for those that don't like it like you don't like it you found something wrong with something i said today. Whatever you don't like in me, it has to be in you. Otherwise, you couldn't see it. And I'm sorry that you quit on something that I'm doing. And that's your way to make sense of it is to not like what I do. But look, I mean, haters are as valuable to me as the admirers, maybe even more so.
Starting point is 00:41:04 So appreciate you guys hating on me. I appreciate the energy. Appreciate the free contribution. You make me better. You actually inspire me to greatness. You're fuel for me. So I just cannot thank you enough. You're like, it's just God damn.
Starting point is 00:41:23 I wouldn't be who I am without you. Amen, man. We love those haters. Well, thanks so much, Grant, for your time today. I know it's valuable. Until next time. Thanks, guys.

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