Next Level Pros - #5: Grant Cardone - Founder of Cardone Capital, Mr. 10X, Best Selling Author, Leader of Men

Episode Date: June 2, 2023

In this episode I sit down with Grant and discuss what made him achieve his massive success. He gives great advice to budding entrepreneurs and people that are thinking about quitting. It's hard to believe, but just 12 years ago this man was only worth $2M at the age of 53. All of his major successes have come between the age of 53-65. He truly is an example of his 10X lifestyle. Take a listen! 🚀 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

Welcome to the Founder Podcast, where we explore the journeys of some of the most successful and inspiring entrepreneurs from around the world. I'm your host, Chris Lee, a serial entrepreneur with a passion for building and growing businesses. Throughout my career, I founded multiple nine-figure businesses and learned a thing or two about what it takes to succeed in the world of business. I want to share those lessons with you by searching out the coolest guests on planet Earth and have them share their own incredible stories. But this podcast, it's not just for entrepreneurs. It's for anyone that's looking to be inspired by these stories of people who have overcome incredible odds and create something truly remarkable. So join me on this journey as we explore the

fascinating world of entrepreneurship and meet the founders that are shaping it today. Let's dive in. Welcome to the show. Today I am joined by Mr. Grant Cardone. As many of you guys know, Grant owns several different businesses. 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 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 yeah man excited to have you so grant, you're 65 years old. And, you know, 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 i was listening to interview with charles uh charles munger and and uh warren buffett this morning and like two or three times they talked about just avoid the dumb stuff you know and don't do stupid stuff when i before 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. Sorry. No, go ahead. So at age 50, like what, what was your, what was your net worth at age 50? So I know you had success and you'd, 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, I guess that would be 2008. I mean, we're going into a collapse. Right. So 2008, before this thing actually happened, I was probably worth, at that time, 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 in the in the the seminar business and the maybe i was worth i don't know this is before the collapse maybe six million yeah maybe so maybe a million so which which was healthy right like it was that was nice you're doing some cool things but But Chris, the collapse happened. Right. So that six or eight or ten, whatever it was, it floats. With real assets, they're floating all the time, right? Right.

My first business, it had income, but it had no value. My second business had income and a little bit of value until 2008 fully extinguished it. 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 it. Yeah. And then the real estate gets frozen in 2008, nine and 10. 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 if i recall 2011 you write the book the 10x rule right yeah what what would you say like was like a big turning point from going from worth a couple million to now worth hundreds of millions right like your your last 12 years have been freaking just phenomenal like 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. $7 billion. Yeah, we've never done an exit. And the income-producing companies outside of real estate, there's probably, that's probably, they're probably,

and they're sellable today. Right. Whereas that first company was never exitable. Somebody would find value in this company. It's a neck, basically negative capital intensive. And they're gotta be worth $3 billion today. You know, the real estate's worth heavy,

heavy capital costs in the real estate. It's worth 4 billion. 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 you're 50 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 catapulted you 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 am fucked and i fucked up and you know like for those of you who don't understand what that that that concept is 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 we set goals and targets, and we find places of comfort that are too small. They don't have insurance for the average American today. If you have three months of savings, you think you're good. You're not good. You don't need three months of savings. You need assets that save you

for 30 years. Unfortunately, the financial planning in this country and the financial illiteracy and the indoctrination 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 and have never recovered

from it. Right. And so, you know, the first thing that changed was I realized I was like, that I had fucked up. So 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. Like, I watched the Celtics get their ass whip last night

and then the guy 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 gonna mess up in my case i didn't have a team right i had it was me and a couple people that's not a team that's a that's a's a group, a small, tiny group, uh, basically, uh, you know, three musketeers, three musketeers didn't do anything great ever. And, uh, you need an army, man. So, uh, 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, uh, uh, I went too small. So when I wrote the 10 X rule, when I wrote that book, you showed, um, or talked about, I I'm like, oh, I get it. I needed 10 industries. 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. 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. 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? Right. So back then, we talked to one industry every day, 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 10 X rule that it was kind of like your personal manifesto that basically it was a rule book that you were writing for yourself that you wanted to live by. And so I think, I think that's, that's, uh, 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, 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, look, you don't have it figured out until you figure it out. 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. We I'm in 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. Right. 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. Cause I'm going to make it work. Okay. You can't sell products that don't taste good. Right. So when you go, if you make cookies, like this is how all cookies recipes have been made. Like people that get into the, the lasagna business or the cooking business, somebody comes to Annie and says, Oh my God, you should have these cookies in stores. Why? Cause they taste good. So 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's, 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 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. And it's awesome. Yeah. I think, I think the big, the big thing is like you, you live all your products, right? You, your real estate. You live your sales coaching, your health, right? You're 65 years old, man. You look like you're freaking, you're running around like you're 30. Yeah, thank you. years old. So I aspire when I'm 65, 70, that I got the same energy you got. So 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? 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 200 units, respectable, but now fast forward, $4 billion worth of real estate assets. That's phenomenal, man. Just applaud you. What are some daily habits, daily routines that you have that you've been able to use that have compounded over the last 15, 20 years? Well, the most important one is waking up, man, making sure you wake up, you know. Ideally, wake up when you say you're going to wake up because that's where it all goes downhill from there.

Like make a decision when you're going to go to sleep at night and when you're going to wake up when you say you're going to wake up because that's where it all goes downhill from there. Make a decision 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. He controls what time he goes to bed. That's when he controls when he puts himself down. 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 9 o'clock. Almost nothing bad happened to me during the day. And so one, pick a time to go to sleep, boom, go down, get a good night of rest. Rest is really important uh i was i was watching something elon was talking about the other day about it he's got to get six hours

less than that he's 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 at physical training or what hunting or some 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 uh i had a shoulder injury recently recently so i'm actually trying to get more sleep right now not less uh to recuperate from that um 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 Sometimes it takes longer as you get older. So one, I wake up in the morning, do 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. Again, I had to add some things. As things change, as life changes, you add stuff. So then I come to the office and somebody tells me what to do for the rest of the day. There's one thing that I do do in there that's a ritual that every morning I get a, 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, every cash account that we have. KPIs. Say again? You got those KPIs, the key performance indicators coming in,

the cash accounts. Yeah. Yeah. That's 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. 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 could 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. Right. So it's a crazy kind of phenomenon. Like I'm literally trying to get rid of cash

if I buy the right asset, I end up with more cash than I actually, I end up with more cash than I actually, I end up with a cash problem. So you wake up early, 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 you have all this. 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, uh, 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, OK, what's next? Like, how do I go to next? Right. And and so we sat down this morning and, you know, I said, baby, I got to figure out. 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.

Your 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, you know, like, you know, again, man, stay away from stupid. Right. So I had plenty of stupid, you know,

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, you know, because I'm like, okay, you know, it's like, what's the game now? Right. Yeah. Because you're, I mean, you're never satisfied. You're always looking for something to get out of bed for, right? Like to be excited about. So I had one more building. Okay. I had one, what am I doing and why am I doing it 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 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. 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? $5 billion for? I don't need 5 billion. Now I got to pay 3 billion in taxes.

I only got 2 billion left over. What am I going to do with $2 billion? I don't need that. She's like, play the game, Grant. Play the game. And I'm literally like, eh, why do it? But then when I start playing it, I'm like, okay, what would I do? I would definitely buy a yacht.

I'd buy a $300 million yacht. 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 typically what happens for it, it, it, 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. Cause I'm still thinking about it five hours later now. Right. Get you, you get, you get yourself out of that comfort zone because exactly like you said, when, when you stretch the rubber band, everything wants to go back to it. But then, but then you start, okay, like how can I get comfortable in that stretched out state?

Like 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 the 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, uh, do, uh, you focus on educate financial literacy for, for kind of underprivileged and whatnot. Tell me a little bit about that. Yeah. A grand Cardone foundation. Uh, the, the focus of that, 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 pitbulls what's that called slam his whole his whole school

came over to our office today we're 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 my kids have. And they were here to learn about money, finance, marketing, business, you know. And you can tell. It's 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 through the world is insane, right? Like we don't teach it in schools. We don't teach it anywhere.

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 disease. Amen. Poverty is a disease more deadly than COVID, um, heart disease and cancer combined. Oh, 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? 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 um i would not have taken a bullshit test about what i'm good at 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, 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 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. Yep. Maybe not. Maybe I didn't probably need to do the golf thing, but – Are you much of a golfer right now?

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. Let me just tell you. Let me just tell you. It's not too late. My buddy Casey, he's the largest mobile home. 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 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, it would have, it would have gotten me around the male figures that I needed to be around.

Fortunately, 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 this is all great advice, I think, for young guys that are trying to start it over. So say to the 21-year-old, he's thinking about starting his first business. He's got that itch. 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. 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? Charlie Munger is going to do just fine being a partner with Warren Buffett. So I think this idea of working for yourself is some kind of Jesus complex or something. You know, ridiculous. Most of these influencers, by the way, are going to end up with nothing. Right. Okay? Not all of them.

Some of them, they're awesome and phenomenal, and they're great, and they're doing what, you them, they're awesome and phenomenal and, and they're great. And, and, and they're doing what you, you know, they're using the social platforms the same way I am, but that, that that's a rare exception. Most of them will 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 way easier to expand their empire than to build one 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, go find something that works and get passionate about it. Amen. What about sales? I mean, obviously, you're a big sales guy.

What recommendation do you give to the young budding entrepreneur regarding sales? I would tell you 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 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, they're companies that focus on sales or small companies typically. Okay. Uh, companies that focus on marketing and they flip the model, Google, Facebook, Coca-Cola, these companies, man, they, they, 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 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 sales sale is while you're getting that income if you're a small business owner you need income right now that's what a sales sale is while you're getting that income if you're taught if your daddy's teaching you to save money what's going to happen is you're going to make a sale 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's all back Dude, all of it, and another 20%.

120%. You should lose money in the beginning, and you should live with no dough, and you should not change the quality of your living. Your company could be making $6 or $8, $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 six million no dude you just went bought a car you don't even need that car yet you you went bought a watch you like you're getting ahead of yourself to guys like me by the way it's completely obvious what you did you know right and and and if you're trying to raise money for your company, 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. Buy real estate. Buy, invest

into your marketing, invest in yourself. Just scale. I mean, just invest, invest, invest, and then ultimately, you'll be sitting 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. I don't know. It's a ridiculous

number. I know that. It's 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 40 year anniversary. But ultimately you weren't wearing that thing when you were 50 years old, right? Like you're wearing that now. I was wearing one Rolex. I was worth $8 or $10 million. 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.

I mean, I had some of that stuff, right? But it wasn't for that. 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. 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 Ferrari. I don't have a, what are they called?

The Lambo, okay? The Cullinan, the first Cullinan was bought. I could have bought, 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 Roll rolls i have was a cullinan but it was used at

the miami marlins stadium 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 yeah yes maybe you get that and in the back seat we lowered the back back windows. Smoke was coming out of the windows. And the music beating on 35,000 people was, nothing but a G thing, baby. And Bang Snoop Dogg- Purely a tool. Backseat of the car.

We opened the doors- 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 she's in this hot little sexy limo chick outfit and you know i'll send you the clips so you can add it right so so yeah yeah i saw snoop about i don't know three two two two and a half months ago man Man, you still got that Cullinan, 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. Okay, wrote off $440,000. And then I got hooked on the car. So I still have one now just to admit it. So 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 out of passive income. And four, if it's earned income, don't do it. Only on a passive income. And four, admit it's stupid. And don't try to- Right. You got to know. Yeah. I love the view that you have on a home, right? That your own personal home isn't an asset, right? And that's why I always tell my wife, I'm like, look, this is a money pit. We're never going to look at this thing as an asset. Just understand that it's a money suck and that's what I always tell my wife. I'm like, look, this is a money pit. We're never going to 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. Like everything out, everything outside of this is an ROI. Don't be thinking that the watch or the car or the house or 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 yourself it's an investment, but I don't even know

why people are trying to convince me of that because it's just a place to live. And you called it, what did you call it? A what? So I just said a money pit, man. I mean, it's a black hole. It's a suck hole. It's a money pit, okay? After 12% in commissions, six going in, six going out, 2% a year in property taxes over 10 years, that's 20%.

Interest rate at, 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. And so I own two of them.

Doesn't mean it's smart. What's his name? Jay Z just bought a $200 dollar house down the street from me oh and it's uh probably a good portion of his net worth which is crazy no no he's i think he's worth two and a half bit big ones right now is he two and a half now oh my god yeah dude 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 $20 million a year.

In 10 years, he has to make $200 million just to pay the property tax. Just to maintain it. Oh, my gosh. Well, bro, 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, 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 is whether it's calling quits in live calling quits in do it in do it so but i you're saying give up quit bro and you're gonna 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, still here. Now what? All you do is punish yourself because you're going to quit and have to start. You're going to, 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. I mean, it's terrible, dude. It's nasty. No, I was with you, man. In 2008, I started my very first business. In 2010, filed bankruptcy. It all 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 got to 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 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 do we found and what are we pushing to the next level? I know you said you were talking to Elena this morning. You got 10X health. You got the real estate the real estate what's what what gets you out of bed what's what's going to drive you yes so the goal the goals right now are um we're going to take we got we got four billion dollars worth of real estate i'm going to turn that into at least 40 and um i'm going to raise $10 billion crowdfunding. 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. And, but next stop's 3 million, three and a half million paying customers. Um, so, you know, I got a lot of work to do, bro. I'm going to take it. I love, I love it. Yeah. 65 years old, not, not, uh, putting the, 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? 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 already done enough. Nobody expects anything more out of me. I'm Grant freaking Cardone. I've got the 17 million followers on my social media platforms. I don't need to do anymore. I can just spend time doing X with my kids, with my wife, or whatever else. Man, just appreciate your motivation, your drive, your hunger.

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 appreciate your drive. I think 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 haters are just louder, man. And everybody else is just cheering silently in the corner. And, you know, for all those haters, give 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, what do you want to tell them? Give, give, give those haters a 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 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 so um 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 i mean haters are as valuable to me as is is the admirers maybe even more so so appreciate you guys hating on me i i appreciate the energy uh appreciate the the free contribution you make me better you actually inspire me to greatness you're fuel for. So I just cannot thank you enough. You're like, it's just,

God damn. 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.