The Iced Coffee Hour - “Don’t F* With Me!” Grant Cardone Breaks Silence on Controversy, Lawsuits, & Selling Real Estate

Episode Date: April 5, 2026

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I am not here to satisfy you. I don't care if you like me or not, man. Grant Cardone. The man himself. What do you think is a criticism about you that's fair? There's a lot. Where do we start? This is why people hate me.

I have debt on $2.2 billion of real estate. I would appear to be disconnected. There it is. This is cool. Showing the plane can appear to be arrogant to some people. Overconfident. What I have here is a fleet. How much of that, though, is just played up for the camera?

I don't play up. There's not a play up. The main controversies surrounding you would just be mostly around the fee schedule for your Cardone capital. People don't quite understand it. And I still don't even understand it. What don't you understand, bro? What's your IQ? It's not a math number. It's an idea. The real issue here around money is roles and responsibility. So what do most people get wrong? Well, they don't ask me like you guys did. They do YouTube videos. Don't make accusations that aren't true when you know they're not true. because the moment you move into definition and own something,

if you own any property, I'm going to come get it from you. Brant Cardone, thank you so much for coming on the ice coffee hour. Really appreciate it. Yeah, thanks. What do you think is a criticism about you that's fair? Oh, man, there's a lot, there's a lot. Where do we start? Yeah, where do you start?

Okay, I'm, you know, the fair criticism is, I mean, there's some unfair, but the fair would be that I would appear to be disconnected, maybe from, you know, because of what I've achieved. The plane, showing the plane, can appear to be arrogant to some people. Arrogency, overconfident. What do they say about me? Trump supporter, get a lot of hate for the Trump support. You know, some of this stuff about the offerings on the investments, that's completely unfair

because what we've done for 20,000 investors is unbelievable to provide people with access to institutional quality assets the way we have at scale. But you would say the arrogance. So you say people claim... When I watch my own stuff, I'm like, do you look so arrogant when you present stuff? I just, I just... And that I'm not thoughtful enough about

how people receive something. How much of that, though, is just played up for the camera? No, no, it's not. I don't play up. There's not a play up. There's not... There's not, okay, I'm going to do this because this is going to trigger people.

So when you said that someone making $400,000 a year is broke. That was done. It's a great. That's a perfect example. Yeah. Okay, that was not contrived. I had no clue that would happen. You just said it.

By the way, that was videoed in front of an insurance company. There was 120 people in the room, very large insurance company. And they hired me to come speak to their people. I said, hey, I asked the CEO, what do you want me to, you know, what would you like me to do? He's like, look, I got a couple guys making $10 million a year and everybody else's here is making $400 grand. He said, I need you to freak and amp these guys up to make 10 million each.

I said, okay, I got it. So my opening line was, look, if you're in this room, okay, this was not, this was pre-internet. The video had been, that video was probably four or five years old when it was found. And then put on one of the social platforms. I don't even think the social platforms existed when I did that event. That's how old it was. It could be seven years old. And he said, I need you to get the $400,000 guys off their ass to earn more money.

So, well, what's the most money you can earn? He's like, I got guys making $10 million a year in this room. So my opening line was if you're in this room and you're sitting with people making $10 million and you all had the same opportunity and you're making $400,000, I don't even know how you go home and feel good about yourself. That was the line, okay? Do you believe that, though? Or was this just like, hey, this is the requirement of speaking? you got to amp these people up and you're like, okay, well, what's this effective? I have one guy paying me.

They pay, I think they paid me 150 grand to go in there and spend one hour jacking these guys up. That video was not made for mankind. That video was made for 125 guys that work at an insurance company that have the ability to make 10 million selling a product. And if you're in a room, if you're, there's four of us in a room and there's a guy in the room and we're all doing the same thing. And you're making a billion dollars. And I'm not, I'm like, what's wrong with me? Okay, well, there's a lot to decode from that. Yeah, less to decode it.

I would like to, yeah. Because you're saying what's wrong with me if I'm not making a billion dollars? That's basically saying that, like, highest moral value, highest value of life is suggesting that that increasing your income to its maximum capacity is like the best utilization of a life. In this case, I was not asked to catch fish. I was asked to amp a room up about making money. So I understand, like, why. It's only more insurance, by the way. By the way, the guy that sells, if you believe in the product, okay, I was doing this company and the people have been a service if the insurance product is good.

When they're not selling drugs, they're providing people with insurance, which people might not have or they're underinsured. And I'm going in there saying, if you have the ability to make an extra phone call, it's not really about the money. It's just I could, the guy didn't ask me, talk to them about selling more insurance. He said, talk to them about making more money. Did you end up making them more money? Well, you know, if I would have mentioned the insurance company's name, I certainly would have because no, for the salespeople, for the salespeople. They made more money when they felt that $400,000 was broke.

It woke people up, even if it was just temporarily. Like, you know, if you get in a car wreck, you're going to become more conscious of how you drive and how other people drive after the car wreck. So I'm punching them in the face to say, hey, wake up. There's an opportunity here. Why do you think some people were complacent with 400,000, while other people felt like they need to push to 10? Because at that time, this is... Like, what's the difference between those two people?

This is seven or eight or nine years ago. That's when you could actually live on 400 grand. Fast forward to 2026. And I'm probably closer to right than wrong. Okay, because I've been talking about this inflation thing for many, many years. Hey, you don't make enough money. I've been talking about a million dollars with no money. The middle class was changing.

these numbers are all basically inherited ideas from earlier generations where, oh, 100 grand is a lot of money, 400 grand is a lot of money, a million dollars a lot of money. Your generations are being told right now that you're being priced out. You're not priced out. You just don't work hard enough. Now, not in your case, but a majority of the population is tapping out right now. Believing in that case, seven or eight years ago, you could live on 400 grand when the truth is,

if you live in the state of California, 400 grand is really two-suffalo. And after the cost of living, electricity, taxes, insurance, etc., you're probably down to 100,000. And 100 grand today in this country in almost any place except maybe, you know, rural Midwest, it's not a lot of money. So if someone has the ability to make a lot of money but they're not doing it, what do you think is holding them back? Well, these conversations, you know, like you're like, oh, the moral compass, it's not about money. I'm like, dude, if you have a wife and two kids or three kids, two parents that are aging, you know, and any other responsibilities in the community

that you consider yourself responsible for some participation in the game, you need to make more money, you know? I agree with that. I mean, I think that there is, obviously, like, some sort of diminishing return at some point, though. What I was saying was, like, the difference between making $100 million here.

But where's the diminishing return? It depends on what your roles and responsibilities, what your duties are. And so if you're a man trying to provide for his family, like, okay, well, there is obviously, in California, probably it's going to be a couple hundred thousand dollars if you're the only person working. And then if it's, you know, you have many kids and your kids have like physical needs and stuff. Okay, then you keep bringing it up. But I don't think that like the difference between making two million dollars, granted, this is coming from a person who doesn't make two million dollars. So take it with a grand assault. Difference between two million dollars and ten million dollars in terms of what you can provide for your family will not make them better people. Yeah. Oh, I didn't say, I've never, there's no clip of me saying people that make more money are better. better people. Well, like raise your children in a more efficient way. Well, you can do that on $2 million. You can probably do that on, you can do that on 200 grand. I mean, you can, you know, the amount of money, raising your kids efficiently, you can give a guy a billion dollars that

doesn't mean he's going to raise his kids well. You know, I'm doing a great job of raising my kids. I know that. Nobody can take that away from me, but the money has nothing to do with it. Does it allow me to spend more time with them? Yeah, 100%. There was a comment. But it was cheaper for me to take my kids out of school than keep them in the schools. So anybody that thinks they can't homeschool, can't homeschool because you're not taking responsibility. This is the real issue here around money is roles and responsibility.

And most people think they're only responsible for themselves and not even their wife anymore. Okay. It's like, I've got to have two people work. No, you don't. You need to work. She should stay home and raise the kids. And, but you need to make more money.

You know, so, I mean, that's just my belief. Like, work. So if your wife was better at making money than you, do you think it would be most efficient or productive for you to be a stay-at-home dad and she be a stay-at-home dad and she'd never, never even considered it? But if she was more efficient at making money, so if she was better. I can't even think for it. I'm sorry. I just. Is there a world in which a woman can be better at making money than a guy?

And like, if they're in a relationship, should she be the one going out and working? I just can't have babies. And, you know, I can't have babies, so I don't know how to do that. So, and maybe it's just traditional, you know, just look, that ain't going to happen. My wife used to ask me, what if I made more money in you? I said, it never going to happen. You said that? You're never going to make more money to me.

What was her response to that? She's like, but what if I did? Would it bother you? I said, no, it won't bother me. Make more money. If you want to make more money, go get a deal, get somebody to give you a bunch of money. But, like, you're never going to make more money than me because I am always going to So you're flexing on your wife.

No, I'm always going to amp it up. And I'm going to figure out another way to earn more money because I know there's endless amounts of money. Since the last time I was on this show, okay, the U.S. government has printed 25%, maybe 30%, more currency is in place today, in play today than was the last time I was on this show. That means I should have gotten a pay raise. You should have a pay raise. You should have a pay raise.

Everybody watching this right now should be making more money. But most people can't say they're making more money because they're not. Why aren't they earning more money? Why aren't they getting more money if more money was produced? I'm not even talking about spending right now. If more money was produced, your earnings should have automatically gone up, period. What's the minimum amount that you need to make to not be broke? I don't know.

I mean, I'm broke. No matter how much money I make, I'm broke anyway. So you've got to tell me what broke means. What would you consider to be broke? Well, I don't have any money with me right now, so I'm broke. Right now today. I'm broke to get back to, if you didn't, get me a ride back to the hotel. You would have a credit card or something. I don't have anything

on me. I'm broke right now. You don't have like an Uber app on your phone? I do have an Uber app. Okay. So you could figure out a way to. Yeah, but if I was broke and my Uber app doesn't work anymore, then I'm broke. Now, how do I get back? That is the way people really should. This is the calculation people should understand. This is what I did on an undercover billionaire. I didn't have any money. I had $100. I took the $100 and gave it to the bank. A Discovery Channel was upset because they're like, you need money. I said, no, I don't need money. I need people. I need my ability to contact people and ask somebody to give me a lift. I'd go out there right now and I'd do this. And I'd get a lift. I'd get a lift back to the hotel, right? And then I got a room tonight. How did I, you know,

so, so that's the hustle. The hustle is other people. I need to get in front of people. That's why the roofer and the HVAC guy and the plumber and the electrician are going to kill a they're going to overperform. They're going to make, the plumber tomorrow is going to make more money than the doctor tomorrow. If they know how to hustle. Now, if they don't, they're just going to get inflated on and they're going to tell, okay, the wife's got to go work now,

and the kids have to go to schools, and everything's going to get more expensive on you, and you're just a spectator in the game. One thing that was really interesting that you mentioned in our last podcast, though, is that if you have a million dollars, you're as close to broke as possible. And so I feel like a lot of people disagree with that sentiment, because I would say there are many dollars, maybe even a million different dollars,

that are closer to broke than a million dollars. And so what do you mean by a million dollars being as close to broke as possible? How old are you? 27. Okay. So if you don't have new income, okay, and you're going to live to your 87 and you have no new income, you guys break up, there's no sponsors, there's no income,

Nothing, dude. Like, what, but you're just, you know, whatever. You cannot earn income. You have no government check. So you have 60 years and a million dollars. I don't know what the math is on that. Well, you could, let's say, let's say I put it in stocks and I'm taking a 3% withdrawal rate. So I have 30k a year basically.

Yeah, 30,000 a year, give or take 15-0. You live on 30 grand a year. It would be uncomfortable. $2,500 a month. You can't, bro. Not even in this town. Your rent's $2,500. You rent's $2,000.

How do you live? You got a mom and a dad? How do you feel about yourself now? Your dad, you find out your dad has a dementia. And it's going to take him 16 grand because your mom can't take care of them. Now you've got to take care of the mom and the dad. Now how do you feel? What happened to your roles and responsibility?

You were thinking about yourself. This is the problem right here. It's not a money problem. It's a roles and responsibility problem. I'm not responsible just for myself. If I'm a capable, able, intelligent, I can work. I'm healthy. That's my abilities.

and I don't extend my roles and responsibility, not just my wife, my kids, my employees, my community, my neighborhood, even to my government, then I have a diminishing roles and responsibilities, okay? And if you have no roles and responsibilities, then you don't need a lot of money. But if you have, believe you have,

if God gave you a bunch of responsibilities and roles, then you need money. Mother Teresa needed money. So she didn't have any. or her own money. So what does she do? You don't need your own money. You need to be connected to people that have money in that case. A lot of people. And you need more than a million dollars. Like I don't even know where this number came from. It's not a math number. It's an idea. It's an old idea. A million dollars and you got it. Yeah. For me growing up, it was always a hundred grand

that I thought when I was like 12 years old, like you want to make a hundred thousand dollars a year. Yeah. And then you see how quickly it goes. Like even my health insurance is close to a thousand a month now. And it's the worst health insurance possible. It's a catastrophic plan. Still $1,000 a month for two people, which is crazy. The amount of prices you're going on. Yeah. I mean, I had a coffee this morning. It was $12. Okay. Well, that's, that is, if I walked up to a coffee shop, saw a coffee was $12. I'm walking 20 feet to the next. Yeah, I make my coffee at home. I just brought it here. Well, you know. I saved $12. Okay, good. Maybe. I did. Okay. Good. But, but. You know, the idea that I'm not interested in saving money. I'm interested in earning more money. So I'm like, oh, it's $12 for the coffee. I wanted the coffee.

So I'm like, do I save $12? If I, no, actually, you don't get the coffee. So you could say you save $12, but the truth is I didn't get what I wanted. You know, in an abundance mindset, I'd be like, okay, yeah, dude, give me, give me, give me two of them. Give me two up and here's a tip. Here's another $12 for just delivering me the coffee. no harm, no foul. I'm going to go earn more money. And by the way, I'm going to do that for my wife and my kids and my church and my community and all my employees.

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If I was trying to make a bunch of money tomorrow, I would not go into real estate. Real estate's a very heavy. I'm more likely to go sell waters at a concert where I could get $12 for the water because people are thirsty. The location changes how much I'm willing to pay for that coffee or that water, right? The real estate, the real estate would not be what I would go into tomorrow if I was trying to make a bunch of money. What would you go into? Well, I would definitely think about a, you know, if I was 25 years old and didn't, didn't, you know, hated school or 20 years old or 18, I would become an AI consultant.

If you'd ask me this the last time, I would say I wouldn't even know about it. I would become an AI consultant. I would have 10 clients, each pay me $8,000 to go in and push all their AI, all their programs. I'd probably bring three AI platforms into the company, figure out three or four different projects they want me to handle. I wouldn't be on their health care. It wouldn't be on their payroll. They'd pay me an $8,000 consultant.

I think they'd make a million dollars in year one. $83,000 a month. 10 people, $8,300 each. Let's break this down to actionable things. So if you were watching this right now, let's just say they're 25-year-old guy, not up to a whole lot, and they want to make the crazy amount of money you just...

83,000 bucks a month. So about a million bucks a year. What is the first thing that they do, like a step-by-step? You've got to become an expert at AI. Okay, so how would you become an expert now? Well, rather than sitting in your little room and watching my Instagram and me tell you, you're not making enough money.

You need to become an AI expert. You need to throw yourself down into cloud, into chat, into which nobody even talks about. Five months ago, that's all you talked about. Whatever, pick a platform. And you need to become an expert. You need to learn how to ask questions better than anybody else can ask questions.

On the verticals that you're going to go in, if I was chiropractor, I'd be like, I would learn how to ask those questions, have that already set up, dentistry, et cetera. And then I would start calling on those companies saying, I built these AI platforms. You know, I am an expert in this. The guy your calling on will not know whether you're an expert or not.

That'll be determined by how good work you do for them in month one, whether you get paid in month two. But this is a brand new open space. The other thing you could do is the social media. People are still terrible at social media. All these people I'm talking about, all these verticals I'm talking about are horrible. At best they have a LinkedIn account or maybe an Instagram account and they misuse them. Car dealers in this town don't know how to use their social media and don't know how to use their AI. Every car dealer in this town would be a player for an AI consultant.

Once you become a genius at this whatever this AI platform is, now you need to become a sales. You need to become a sales god. You need to, because these are knocking on doors. These aren't, I'm going to send an email out and Dr. the dentist is going to answer me and say, please come in and pitch me. you got to go call on companies. And this is why your viewer won't do it

because they are so disabled, they're so disabled with making contact with the human being. It's hard to do, man. Even for me, I hated door knocking. I couldn't stand it. I would rather quit real estate

than do door knocking. It's not even the rejection. See, I'd say, why does your audience not do this? And they're going to be like, I hate rejection. No, you don't hate rejection. You hate being ignored.

Because in the beginning, they're going to ignore you. There's not going to be any rejection. There'll be no response at all. That's why you send the email. You send the email so you don't have to deal with reality. If you go knock on their door, watch them turn you away and say, I don't have time for you. You can't even get over.

Forget whether you're an expert. You cannot even get past. I don't have time for you. Like your audience doesn't even know how to handle that one thing. It's dehumanizing. I did two videos where I went door-to-door washing windows. Yeah. Because this kid was making $1,000 a day cash going door-to-door washing windows.

But the amount of rejection that I got, the way that people treated me, it was dehumanizing, and it was discouraging, and I felt like crap. Yeah. But then when you finally get a yes, it's a great feeling, but you have to go through like 10 to 20 nose. My daughter, Sabrina, she was here last time, and we put her on the phones, and I said,

here's the script. You're going to call and say, my dad asked me to call you, and he wants to know why you didn't buy the product. It's very easy script. She had a list. They were warm. They weren't expecting to call.

Hey, my name's Sabrina. She's like, oh my God, what am I? I said, don't worry about what you're going to say. Worry about what's going to happen to you when they don't pick up. Okay? She's like, what do you mean? I said, you'll know. You'll know.

You'll know. Let me know when you know. Okay. So she started making phone calls. No answer, no answer, no answer, no answer, no answer. Won't pick up, won't pick up, won't call back. She went through like 19 of those. She was devastated.

She had never been. At her age, I think she was 13 at the time, never been ignored by that many people. She was used to walking up saying hi to people and everybody gives her attention. And that was removed. So, like, people don't know. This is what the Mormons do. They send their kids two years to missionary, which I think it's brilliant. And they got to go to another country with another language and knock on doors.

And so you'd say, could you do it? Could I do it? Yeah. I could if I needed to. Yeah. I think because, I mean, growing up, there were like different things I needed to raise money for, like, even track. You sell these car wash things. You get door knocking.

Like, I was able to do it. But now I'm not necessarily in a position. so it would be more uncomfortable. But if I had the hunger instilled me because I wasn't providing in the way I wanted to, then yeah, I could. So I am curious, though, on the topic of AI implementation, which is basically what you're suggesting.

You would say that that is the number one thing that people should be doing right now to make a lot of money is AI implementation. Is there any other thing that you think is really lucrative? So you could make the same money doing social media. Okay, so what exactly in social media? You would go in your, you know, your whatever, you are, you're a dentist. I'm going to handle your LinkedIn. Oh, we got that handle. I'm

going to handle your Instagram. I'm going to handle your TikTok. I'm going to handle your YouTube. I'm going to handle your shorts. I'm going to handle your long content. I'm going to get your podcast. How much is that going to cost me? $83,000, $8,000 a month. I'll handle all of it. I'll handle your responses, your comments. I'll make sure everything's linked up back to your website. Well, $8,000. You can't hire an employee in this country for $8,000 a month. And even if you did, you'd have to train them. You don't have to train me. I start today.

Your close ratio is probably going to be 40%. You're going to call on 10 clients, and you're going to get four of them to sign up. If you're good at sales. Well, if your picture's good. What's the one thing people get wrong about sales? Everything. Where do they...

Dude, first of all, it's terrible. It's nasty. You know, nobody gets training. You're not encouraged to do it. And what's the biggest mistake people make when they're selling someone something? thing. Well, God. I mean, we can talk about this for three hours. What's the main thing that you see people doing? Because I remember when I was watching the Wolf of Wall Street, he's like, you just got to

shut up when you make the pitch and don't keep talking. Is that true? Not really. I mean, I don't think it's that simple, right? So if I shut up and he shuts up, now what happens? Everybody shut up. I mean, you're deep into the deal now. Like, you're not in sales now. You're in the negotiations and a close at that point. So the first mistake would be the target. You know, this goes back to money. The problem with most salespeople is the target's so low that you're not going to go through what it takes.

It's what you just said, dude. You said, oh, I could do that if I had a need to. But most people don't actually have a need to because their understanding of money and life is so messed up. Like they think, oh, I'm going to make $8,000, $8,000 is a lot of money. I said $8,000 times 10 clients. And you're going to find out that's not a lot of money. You're just going to find out that life is going to throw more problems at you that cost money.

So you can go to $80,000 a client if you want to. You're going to find out it's no money. You're going to find out no matter how much money you make or don't make, you're going to end up with a problem. Managing money, funding things. So the sales guy comes in, he's like, I'm going to make $4,000 a month. For $4,000 a month, you're not going to go through the amount of rejection you were talking about. For $4,000 a month, you're going to say, fuck this. I'm going to get a job that pays me $4,000, and I'll work for somebody else.

I'm not going to go through all this rejection. So why don't you say real estate? Because I feel like seven years ago, seven years ago, I feel like you would have said, all right, we're going to scrounge up some money together, buy a multifamily. I would have never said that. No? Never in my career than what I said that. I'd say, if you want to make money, you go out there and hustle somebody right now.

I'll go back to your window washing. Who was doing the window washing? I did. Yeah, dude. Yeah. Like, that's a great business. Okay, because I get money today. So that's why the H-Back and the plumber, electrician, all those guys are going to just crush.

The electrician is going to be making 350 grand a year here in the next two or three years. So just got to be good at the pitch. And he can make $3.5 million if he could scale his business and tell a story and call on clients. But the money's going to come from a person. You still got to go call on people. Like this is the big problem with the sales game. Okay. This is a problem with people that start a business.

Most people started a business for the wrong reasons. They start a business because either they got to. let go up from their last job or they hate the guy they work for and they come up with this calculation that says like their Einstein and says I rather than being abused by Grant, I'm going to go do what I learned at Grant's place and go work for myself and now I work for myself. And they're going to find out now that they still don't have the skills to make any money. And now they hate the client, the environment and probably even don't like themselves. The average CEO in this country, a solopreneur, makes $30,000 less working for themselves than they would in the same position working for somebody else.

There is something mentally different, though, for doing something when you're doing something for yourself that is freeing. Like, I'd much rather make less money and know that I have full control over my schedule to make more and work for someone else. Yeah. All right. That's you, though. I think not everyone would agree with that, actually. I don't, you know, I don't care who. I'm, look, I work for somebody else every day.

I'm working for you guys today. I'm working for Jared. I'm working for my partner, Brandon. I do a deal with Blackstone. I'm working for them. You know, get a loan from Wells Fargo. I'm working for them. I'm working for everybody.

I can pretend to be working for myself, but I'm always on somebody else's schedule. What are you seeing right now happening in the real estate market? Well, it's just, you know, is a lot. A lot's going on. And we've got a bunch of debt. Single family, single family is not going to, let's just start there, okay? Yeah.

Very difficult to sell house today. The only people selling homes, new homes are selling for less than existing homes are, and that reason that is because the new homes are subsidizing the rate. They're buying the rate down from six and a half down to five and a half or even lower. They're subsidizing down payments. And bill down the street that wants to sell his house, the guy that wants to sell his house here, can't do that. Or he doesn't think he can.

So the sellers aren't creative enough to offer financing, so they just lower their price. And they can't get the price low enough to actually bring the buyers in. Now, mortgage rates look like they want to fall off the ledge right here. Yeah, they just drop below six. Yeah. So they're below six. I think they go down to four. I think they're going to just collapse here in the next six months.

What do you think that's good? And if that happens, that will, then the housing market will be real estate agents will start making money again. Brokers will start making money again, mortgage brokers. So does that mean then you are bullish long term for single family homes? No. Because if mortgage rates drop, don't you think that all of a sudden then affordability comes back and that the buyer could now pay what the seller wants? Yeah, I think what happens in the beginning.

Contrary is I think that if rates fall off the cliff, if they would come down really fast, which is what Trump wants. And the first thing that would happen is prices would come down, not go up. If rates dropped, I think what happens, Now, most people don't agree with this. I think the supply is going to go so high. So many people are going to be like, okay, now it's the time to sell our house.

The supply is going to increase so much that everybody's going to be like, I'll drop my price right now because I want to move into that other house. Oh, so then secure another low-interest loan? Yeah, exactly. They're trying to move to something. Right now, right now, look, for a sale to take place,

there has to be motivation on both parties. So for me to compromise my price, I got to want to go do something else. And right now, there's no, there's no urgency to compromise my, my price because I have no place to go. The moment I have some place to go, then I compromise my expectation for what I want for my house because I want to go to this other place so bad. And that doesn't exist in the system right now.

You got to have supply. You got to have a lot of supply. You got to have tremendous demand. And you also have to have an urgency by both parties to say, I'm ready to roll right now because I get a low rate, not a low price. By the way, I'd rather a low rate than a low price all day long. This is what Trump wants, by the way. He doesn't want to destroy the equity in the housing.

There's about $38 trillion equity sitting in homes, and he doesn't want to destroy that. He could. He doesn't want to do that because that would hurt your parents. It would hurt anybody that owns a home. What he wants to do is drop the rate, maintain the equity, and have people be able to afford a home. Now, being an entrepreneur doesn't have to mean that you do everything yourself.

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is incredibly easy. Visit upwork.com right now to post your job for free and connect with top talent ready to help your business grow. That is upw-o-k.com. There's also a link down below in the description. You can just click it right there. Thank you so much to Upwork for sponsoring this episode. This episode is in partnership with Airbnb. So Graham and I just wrapped up a trip. We were in Austin for a few days. We filmed episodes with Togi, Chris Camillo, and Caleb Hammer. And honestly, every time we're on the road, we're staying at homes on Airbnb. It's just become the default. And here's the thing most people don't think about. When you're the one traveling, your place back home is just sitting there empty, and that's a real missed opportunity. Whether you're gone for a long

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listed a spare room in my house on Airbnb, and I was genuinely so surprised how easy it was to set up, how seamless the entire process was, and it actually made me some pretty good money. I would actually recommend this to anyone out there that wants to make a little extra cash on the side. It's honestly phenomenal. If you're thinking about hosting but want some help getting started, find a co-host at Airbnb.com slash host. So what do you think is the best way to make money in real estate in 2026 or is it just waiting? Well, it's not the single family home. If you if you force me, though, into the single family home and say, look, you grant, how would you make money in single family homes? Well, I would pick three or four cities. Miami would be one of them. And I'd say I'd go,

I'd probably go do as much as I hate this concept. But you're saying short term, you just want to make some money. I'd go flip old 80s homes in Miami. certain locations in a five or six different pockets. You need a place where there's old inventory. There's old 80s, eight foot ceilings, old kitchens, and you'd go in, rehab them and pick up 15 or 20,000 a unit. But the problem is you need some money to do that. You're not going to need a mortgage.

You need some money to flip that house, and you need guts. And now you're back into a sales game. Now you've got to buy it. You've got to try to steal the house. You're calling on 100 people to get one or two deals, not 100 people to get 40 deals. So that's why the AI thing and the social media thing would be such much greater return than me trying to get you to sell me your house that you just bought. Those would still be active ways to make money, though.

Like you're spending your time making money. What about passive income? Like if you're going to deploy your capital in any asset, would real estate be the optimal asset class? Or what would be? I didn't know I had any money. I didn't know I had any money. I thought I was broke. Well, let's just say someone's out there.

They're working a job that they went to college for. they're making 75, 80K a year, and they don't want to change career paths and they have this disposable income that they want to invest somewhere. Yeah, I mean, that's a different play. So you're describing me when I was 29 years old. I'm making, I'm making 80 grand a year. I have 30,000 left over. I do that two years in a row. I do it three years in a row. I got $90,000. I'm not overspending. I live like him, very frugal. He watches every $12 that he spends, every $1,000 every $1, sense. And so I'm banking money over here. I don't know what to do with it. And then I started buying real estate. So I started using that real estate to leverage. I would go buy, but it wouldn't

be a single family home. It would be at least four units. Fannie Mae and Freddie Mac today have a 5% program where you can buy four units. It's limited to the four units and a million, I think it's a million three 90. Five percent down. So on a million dollar four unit complex, you could put 50 grand down. on 200 grand, you could put $10,000 down and you'd get four units to cash flow. But you're not getting rich. You basically took $5,000. You have four units.

You're the manager. You've got to go collect $6,000 a month, four times $1,500. You're going to have to fix a place, garden a place, collect the checks, abdict people, look at lease notices, qualify people, like, fix the plumbing. that ain't passive, bro.

What would you recommend to someone who has maybe 30 or 40K in money that they can invest somewhere? They're able to save a little bit of money at the end of every month. Yeah. Where should they deploy that? Well, I'd say invest it with me, but it's not enough money. You can't say that. That's the one thing you can. It's not enough money, so I don't need to say it.

Where would they be putting that money? I would do what I just said. I would do the four-unit deal and suffer and go do ten-up. I'd do four units. I'd take $5,000. I'd buy four units. and then I'd go do a second one and a third one. If I could do them on the same block, I would do them on the same block.

Now, what are you buying now? Four units. It was built in 1970. It's old shit. Four units. That's all they built back in the 70s. They were building four units. In the 80s, they're like, hey, let's build eight units.

And then they built eights. And then they say, let's build 16. So you'll see them by age. Today, they're only building 350 units. So you'll see these big complexes going vertical. But that's what I'm. would do. Now, is it fast money? No, it's just a little bit of drip. You're 30 grand's going to earn them maybe 3,000 bucks a year. So you traded 30 grand for 3,000 bucks of income. And most

people won't do that. They're like, I want my 30 grand. Your 30 grand is going to be worth $3,000 here in the next 10 years. They're just going to keep printing money. So you need to convert your cash, the $30k, into something more valuable. In this case, it was, let's say, $150,000 of real estate. 30 grand leverage, 20% down. I bought $150,000 property. The value of that property is going to go up as they print money, but it's just a drip. You're only earning $3 grand a month. You're earning, you know, $250 a month. You're like, this is not a deal. I traded $30,000 for $250 a month. I would do that trade, but most people watching this are going to say $250 is nothing. So they won't do it. But you would never say just $250 because you, you're a miser.

$250, if you save that over 30 years, invested at a 7% return, that's over a million dollars. Yeah, so 12 bucks to not stand, right? Exactly. So that's why he's going to Korea for the, he got them first. So what do you think is the biggest risk to housing prices over the next few years? Yeah, I think the biggest risk is that, you know, the baby boomer dies. Don't they then pass off their wealth? Yeah, they're going to pass it off.

They're going to pass it. The three of us, we're brothers. And our parents die. The last parent dies And their home is in Shreveport, Louisiana And we get the notice You live in L.A., you live in Las Vegas And I live in Miami.

Oh my God, he died. Okay, we go in, we see the wheel, You guys get to split the house. He has no other assets. Do you want to move to Shreveport and live in the house? I will not. Do you want to live in New York? Largest flying roaches in the world.

Live in Shreveport. How do you know that? Because I lived in Louisiana. Okay. You know, I dated a girl there. So, and she came with roaches, by the way, it was worth it. Oh, my God. But, oh, my gosh.

And we're going to be like, dude, what's the housework? Okay. We haven't even buried our father yet. And we're like, what's the housework? Somebody says, maybe 200, okay? The housing market sucks right now. So we're going to list it. And one of you guys is going to get, you know, like, I got time.

No problem, guys, whenever it sells, I'm fine. And then you guys are, you guys, you guys are, like, sell it. Drop to price. We're going to have a phone call a month later. Hey, guys, drop the price. You and me are going to be like, just drop the price, right? To you, it's found money.

We have no emotional connection or attachment to the house. We're not living in. It's getting degraded. Kitchen's old. The ceilings are bad. The real estate agent that got the listings now are going to tell you, oh, my God, you need to paint it. You need to take all the furniture out.

We need to reset it up. We need to refurnish it. All that's going to cost money. Guys, it's going to be $6,000 to do that. Every, all the three of us need to each come up with two grand. And you're like, hey, fuck it. Sell the fucking house. Just sell it.

That's my biggest concern is that you're going to have tens of millions of people all dying in a period of 12 months. Okay. We've got 10,000 baby boomers dropping out of the workforce every day. Then you're going to have them dropping like flies, all hitting in their 80s, their 90s, drop it, just dying. Or they don't die. They go to senior housing. Yeah. Or they go to dementia.

I can't remember myself who I am. I don't remember any of the great things I've done. I don't remember any of the interviews we did together. Grant Cardone forgot that he's Grant Cardone, right? And Bruce Willis. It's terrible. It's terrible, dude. But it's going to happen to me or you or our parents.

And so nobody cares about the house anymore. That guts single family homes. The other part that concerns me is the guys that are your age don't really want this responsibility that you have, this acre here. So you've got 75 million baby boomers that have no interest. in home housing. They're dying off. They're not going to buy a new house. They're zero. They're going to spend less money here in the last 25 years of their life than they spent at any other period in their life. They're not spenders. They're not travelers. They're not going to fix the house. They're not going to Costco or Home Depot to, you know, put on a new look.

They're not buying new furniture. They don't need it. They don't want any changes. So you got that third that's dying out and you got the bottom third entering in that doesn't really want to own that home. What's the flip side to that? Is there a bullish case where maybe AI makes things so deflationary, interest rates go low, everyone, like what's the flip side to that? Man, I don't see it. I don't see it. So you think everyone at some point is probably going to live in a big multifamily?

I do. Because that's all that they could afford? No, I think because they're going to, it's a more desirable, you only, most of the population is in top 20 cities. You know, 80% of America lives east of the Mississippi River. only 20% lives on this side of the world of the United States. Top 20 cities control most of the population. So we don't have a shortage of housing in this country.

There's no shortage. It's just a lie. That's a complete lie. There's, I think there's 11 or 12% of the single family housing supply is abandoned homes or empty. There's no, there absolutely is no housing shortage. There's another 12% of multifamily that is vacant right now today. Maybe higher than that. We got multifamily with the highest occupancy that I've seen in probably 20 years.

So you have probably somewhere between four and a half million single family homes and maybe five million multifamily that are vacant right now somebody can move into. So like Trump sent somebody to my office three and a half weeks ago and said, what would you do? I said, I would give an incentive to all the vacancy in this country to occupy that house. if you have a vacant home, nobody's living in it, give some kind of tax incentive. You move somebody into that house, set them up to own that house, and you'll pay no taxes on the income. It would help the people that own those homes, fulfill those homes.

And it would help the new guy that doesn't have a home that wants home. You don't need to build homes to solve that problem. What's the role of government be in housing? Well, I think, I think, you know, they're not fulfilling that. One is the interest rates need to be affordable, and they're not. We should have the lowest interest rates in the world. We have the dominant currency on planet Earth. We should have the lowest interest rates so that people can afford a mortgage.

And they would fabricate it. It would be completely synthetic, made-up money backed by the U.S. government. Lowest mortgages in the world, right here in America. You know, 3% that works. And how would you justify United States being? the country that offers the low interest. Is that just because of sheer productivity? We're so productive that we can afford to.

Yeah, we're productive. We, you know, why not? Why not? We're going to go spend a trillion dollars on this freaking nonsense in Iran. So why not? Why not have our people living in a house? You know?

If they want a house, by the way, I don't even think that solves the problem, though. What do you think is the name? I don't think that because I think a lot of you guys were going to be like, I don't want a house. I don't want to own a house. I don't, I want, like the complexes we're buying today, comes with a $4 million swimming pool,

a million dollars of amenities, $250,000 gym. It comes with a Whole Foods right across the street, a Trader Joe is two blocks away. I can walk downstairs and go get, you know, clean eating anytime I want. Like, that's what people want. They don't want to drive 40 minutes

to get to their Whole Foods. And so I think, do some people want a home? Maybe. Yeah, you want to raise kids there? I would argue more people would want a house than live in a condo. Maybe. But I think if you talk to some of the guys that I talk to that work for me in Miami,

first of all, you can rent for 50% today of what it costs for a mortgage. That is true. Just the mortgage. Yeah. Not the PMI, not the taxes, property taxes, not the insurance on top of that, just the mortgage itself. If the mortgage is $4,000, you can rent something comparable, not a house, maybe even a house, for $2,000 in Miami. in Vegas, same thing in Vegas, okay?

So I got one of my guys, Ryan, I think his rents $8,000 a month. The place is worth $4 million. Okay, the HOA fees and the property taxes are more than $8,000 a month. So the guy's got $4 million of dead money plus the HOA fees, plus the property taxes, plus the insurance, Ryan pays no insurance, no HOA. he doesn't have dead money he can leave anytime he wants Why would the owner agree to rent at those terms?

Because he doesn't want to be empty But why can't he just sell it? Why does the guy charter his jet? Why not to sell it? Why not to sell it? Sell it? You can't sell it. Well, then it's not worth four.

What do you think it's worth? You're right. But he's like, I don't want to lose money. He's like, he's got four in it. It's just that you don't have any buyers right now. If you had lower interest rates, somebody would buy that asset. You know what I was really surprised about?

I didn't realize this, is that when you have a primary residents and you sell it for a profit, you pay capital gains. You get the exemption. First $250 or $500 for couples. But what I didn't realize is that when you sell at a loss, you cannot take a capital loss. That's right. Which is crazy to me.

That if you lose money, because I see sellers here that are millions of dollars in the red on a property that they paid at the top of the market in 2021, it's for $3 million less. They can't take a right off off off. That's right. They just, after tax money, it's gone. It's crazy. These rules, the rules that extend to investment purchases should be extended to single family helps. So Trump sent Bernie Marino into my office and said, hey, Grant, I'm down to Miami.

I want to know, do you have any ideas about how to really get housing going, accelerate housing? I said, yeah, here's the number one thing you should do. Like you guys, when I walked in, first question I asked, did you accelerate the depreciation on this place? They should pass on accelerated depreciation. I get it on every property. Every property I buy if we paid a million dollars or 10 million or 100 million, I'm going to probably write off under the bonus depreciation, accelerate 27 years of depreciation on a home to year one. So I'm going to probably get like a $40 million.

$0.40 cents of every dollar will be written off the day I bide. That should be extended to single family homes. So you paid $1,000 to $50% of it would be accelerated. Day one, you'd be able to write off $500,000. today. But how would that not just like increase the price of housing? Well, it would. It would accelerate. People would start buying. That would absolutely increase the price of housing. I think what you want your house to go up and value? Jack does. What Jack is trying to say is for the average person to say, hey, I just want to buy a place. Now these laws pass. Yeah. And they're like,

oh crap, now it's just increased. It's already in place for me. All it's doing is it's already been approved by Congress. I get this every year. This is why I don't pay any taxes. My tax bill last year was zero. Why? Because we buy an asset, we write it down. Blackstone buys an asset, writes it down. Starwood buys an asset, writes it down. All the major insurance companies, New York Life, MetLife, New York Life and MetLife owned

$200 billion of real estate in this country. Nobody ever talks about them because they're insurance companies and they stay out in the news. You came in here and bought this place and you didn't get the write-off. That's true. Why don't you get the write-off? Well, on this one you can't. Well, if it's your single-family home, you can't. I do not live here, no.

Okay, good. So because it's an investment property, you should be able to write this off. But the single family home, the guy across the street, should also be able to write his off when he buys it and accelerate it this year. You know what that would do to this country? He would pay, he would get a $400,000 tax write off this year. Imagine he makes that $400,000 we talked about earlier. Okay, he's that insurance agent that I rag on.

Okay? He gets a $400,000 write off against his earned. income this year, his tax bill is zero. He pays no federal taxes. Would that be good for Las Vegas? Absolutely. A hundred percent, because now he's got 200 grand to spend that he wouldn't have had, had he had that tax bill. See, I always felt that the mortgage interest deduction should be raised to a million and a half. It should be raised to five billion. And then I also think that the capital gains exclusion. The capital gains exclusion. It should be raised to five million. It should be 10x or maybe not have one at all. Here's what's crazy. When the capital gains exclusion for single family

homes was passed. It was the late 90s. The average home back then, $4 to $500,000, on the high end, by the way. And that was the exclusion. Now it's closer in some major cities to a million dollars. Yeah, that's right. But the exclusion stays the exact same. It's never been adjusted for inflation. Yeah. They should increase that. Yeah. So like the interest, okay, when I pay, I have, I have debt on, this is why people hate me, or don't like me. This is my criticism. I have debt on $2.2 billion of real estate. So the moment I say 2.2 billion, they're like, oh, you see, he's bragging. I'm just using it as an example. My interest on 2.2 billion, which I don't pay for, by the way, my tenants pay for.

I mean, it's funded in the project, right? 100% of that 2.2 billion times, let's say 5%, whatever, $110 million of interest is deductible every year. You can't deduct more than about $42,000. Shouldn't be there. It should be no limitation. It's an American product, American house, bought in America. You should be able to deduct 100% of the interest to the capital gains. Okay, you bought this place for a million three. You sell it.

Three million dollars. You make a million four. You shouldn't be like, why should you pay taxes on that million for when I don't? Why? Why I pay capital gains? What's the government got to do with the ownership of your own car? Okay. If you bought that shirt and sold the shirt for more money because people think you're famous,

Okay, you know, whatever, right? And you bought it for 80 bucks and you sell it for 300. You don't pay capital gains. Your bicycle, your car. Nothing has capital gains except a house. And it shouldn't. And that's what Trump's open to, by the way, for all your Trump painters. They like the idea of trying some of this stuff.

He pitched the accelerated depreciation two Mondays after I told them about it. He pitched it at Davos. And I heard that he's going to be signing an executive order to present to Congress this year. So did he literally talk to his cabinet or whoever and say, hey, look, we need to. No, that's not having. Like, and then, so we're going to send someone over to Grant Cardone's office

to get some ideas of what to. And how does it work? He doesn't talk to his cabinet. He's like, Bernie, you're going down to Miami? Get down there. Talk to some people down there. I got friends down there. That's it.

So we'll just send someone down. He'll just, I mean, it's, you know, it's not that. just rolls like, there's no cabinet, trust me. It could have been done at Mar-Lago. And I want to get this housing thing. Guys, bring me some ideas. It'll be like this. Bring me ideas.

Anything. Anything works. I want housing to explode in this country without destroying the equity. Okay? I want rates down. I mean, he's been pounding the table about rates. He did the 50-year markets. He offered the 50-year, I think the 50-year backbired.

Yeah. If it was, you agree with that? Yeah, it didn't make any mathematical sense to me. If you're going to do 50 years, do 100. it. No, but it just beyond a certain point, there's nothing. There's so much diminishing returns to cost you more. It was $100 or something. It's like, no, just to go to 100 years, bro, it really expanded. A hundred years ago, way more backlash, though. Not maybe. But if you got to sell it, you still got to sell it. You're only going to keep the house eight years anyway.

Look, if a 30-year mortgage doesn't make, a 15 doesn't make sense, a 30 doesn't make sense, a 50 and 100 don't make sense. Just make it just make it so that you could write off the full amount of interest. That's it. Don't buy a house. It's a terrible investment. It should come with a warning, like a black spot, black box label. This is not an investment. This is a pure liability. When is it an investment? It's never an investment. It's never an investment. This is never an investment. This is not a, this is not a house. What we're doing right here, right now, some guy's going to be driving his car down the street saying that's a house. This is not a house. This is pretending to be a house that is now commercial business producing income for the sheer sake of producing income. Single family home

does not produce income. It is not an investment. It should not be on your personal financial statement. What about your house in Malibu that you purchased? I was at the house yesterday. I met with the administrator of the EPA, Lee Zeldon. Do they still want you to tear down the house? Yeah.

Yeah. They want me to tear it down. If I spend $1 more than 50% of the assessed value of the house, not the land, if I spend $1 more than the assessed value to clean it up, to get rid of all the smoke damage out of the floors, the walls, the H-pack, replace the kitchen, the rooms that were burnt, the roofing, blah, blah, blah. If I spend more than, I think the number is like $2.5 million, half of $5 million. If I spend $1 more, they want me to tear down the entire truck.

Who is tracking how much money you spend on the house? Who knows? The permit process. anything I spend Yeah, but if a contractor says, hey, listen, we'll do this job for half the price and hey, maybe, you know, we work out a deal. You shout me out and we're good.

Yeah, but I mean, right now, right now they're watching everything I do. So this is a FEMA rule, a FEMA rule. FEMA came in on the coastlines. By the way, the coastline of California is treated exactly as the coastline of Louisiana. So it said, and these rules, these FEMA rules

were put in after the storms in New York. So New York, remember the big floods there four or five years ago. FEMA came and said emergency, that rule of emergency will pay to replace your house. But if your house, if you spend more than 50% of the value of the house, it was a smart rule for floods. If you spend more than 50%, if it's a complete tear down because of the floods, then you need to rebuild that house so that it's above the flood plane in case of another flood because the federal government doesn't want to keep fixing flood damage.

But Balibu doesn't have a flood problem. The state of California has never been under the threat of a flood. After the fires, fires and floods aren't the same thing, as your viewer knows, but clearly FEMA doesn't understand. If I fix more than 50% of the value of my house because of the fires, they want me to destroy 38 pillars that are 36-inch wide concrete going 30 feet deep into the granite bedrock. They want me to pull all that infrastructure out. They want me to take 26 inches. I have 8,000 square feet, 23 inches of concrete poured underneath my house as a platform that prevented this house from being burnt to the ground. They want me to pull all that infrastructure up and rebuild a new house if I spend $1 more.

When a house has never been violated by floods. Do you regret buying the house? Yes, of course. You like the why? I regret by my house in Golden Beach. Why did you buy the house in Malibu? Because it just seems it goes against like buying a house for yourself and California. Nah, the California wasn't, we bought that house six or seven years ago, so they hadn't.

I was going to go live there, you know, four or five months of the year, not pay income taxes. But if, if I wouldn't go there and buy today. Now, that being said, that coastline, 18 homes next to me were burnt to the ground. The next house, there's me right here, 18 homes in between me. The next house is built the concrete. everything in between is built to timber. I don't burn, he don't burn, okay? Then there's Larry Ellison, Larry's son, like billion to billionaire row, okay?

On this side of the house, on the east side, there's 80 homes burnt to the ground. All those homes are going to become $14, $15, $20 million homes. This side's going to become $50 and $60, $70 million homes. Now, did you see that they're turning some of those lots into low-income housing? Not there. On the beach, no, it was just. No, that's impossible. just today.

Impossible. Impossible. They're doing Section 8 next to you. Yeah, no, it's impossible. Now, when those houses burn, when those houses burn around you. Those should be vertical buildings. Those should be vertical buildings like they're in Miami.

I should not. This is for all the haters out there. My home that's 10,000 square feet should not. I should not, one family should not be allowed to live in that house. That house should be a vertical house of 50 different families. traffic would be an issue there. Traffic's already an issue. And?

Not as bad as it would be if you had 50 residents per structure. You think traffic's a problem in the Gossus trip? They're going to fix it. It's going to be unbelievable there. But when properties burn around you and you have the only house left, does that make your house more valuable? Yeah, I think it might, I mean, more... Or less valuable because there's nothing around it. No, no, it's...

The view's good now. It's perfect. I mean, realistically, there's nothing that's going to be built there for a long time. My next-door neighbor, Jay Stein and his wife, okay? Jay had $3 million for the insurance. His home was worth $14 million. Mine's worth $40 or $50. Yeah.

So I'm sitting next to him. He's half the lot. He's worth $15. Let's say he's worth 20, whatever. He loses his house. There's no house there. He only had $3 million for the insurance. Yeah.

So he's out. He lost whatever he lost. He's got to rebuild now. On top of that, he's got to rebuild. So he's got a rebuild. Let's say cost him 10 to rebuild. Now he's got 13 in it. No, he's got 10.7.

He's got seven less the insurance. Yeah. Now his house is probably worth 20. It's going to go up because it's brand new. But he's got to sell it to somebody that can only get $3 million for the insurance on it. So who's that going to be? And I'm rich. Rich guys going to walk in.

I'll pay it. I'm only going to visit three or four times a year. All those homes, by the way. None of those are real property owners there. except for the lady two doors down that's been there since she's 85. She's effed because she can't fix it. She didn't have enough insurance.

She's not going to build to spend the money. It's going to take her seven years to rebuild. So it was a terrible investment. My home in Golden Beach was a terrible investment. This was a terrible investment. But it didn't, none of it, at some point you can do stupid. Now, as soon as you go from working solo

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The link is also down below in the description. Thanks so much to Shopify for sponsoring this episode. So what is your investing strategy then for this year? Well, I'm in big transition as I was telling you. So, I mean, we're still buying real estate. Local news is in decline across Canada. And this is bad news for all of us. With less local news, noise, room,

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Find your advisor at IGPrivatewealth.com. So I only bought one deal last year. It was the worst year we've had to buy real estate. It was a big deal. $230 million real estate with $100 million of Bitcoin. But it's the only deal I did. We're extremely disciplined. So we want to add real estate.

We want to add real estate and Bitcoin, real estate Bitcoin hybrid. We want to continue to build that out. We think it's a financial vehicle that will disrupt the reed industry. We're going to move into the wealth business and create a mini blackstone or Merrill Lynch for to democratize to the mass affluent and provide insurance, banking. Is that like a family office style?

Multi-family office. Okay. So for the masses. So we're basically, we're already doing the consulting. We have about 15,000 customers. We're consulting in their companies, plumbing, HVAC, Dennis, chiropractor, small businesses, where we're going in, helping them scale their businesses, taking care of their operations, looking at their 401 plans, their insurance plans,

and starting to consolidate all that, that's going to be a monster business. And what was the logic behind adding Bitcoin to real estate funds? Yeah, so I've been tinkering with Bitcoin for about, well, since 2011. I came to this town to do a gig for this group that was a business that they only had Bitcoin. And they wanted me to come in and speak. And I said, yeah, I'll come speak. And they said, we can only pay you in Bitcoin.

I'm like, I don't know what that is. Long story short, they gave me 115 Bitcoin. I still have those today, and I got introduced to Bitcoin. And I still own those Bitcoin today. They're worth 70 times 115, whatever that number is, 8 million, 8.4 million. It's been worth 126 times 115, and I started getting introduced to this technological money. And bought a little bit when it was 16, bought some more at 30, watched to go back to 15,000, to go back to 60. I've been playing with it. So last year, and this is what I said earlier.

Real estate's a heavy. Very, very heavy. You cannot. I can't take my $5 billion and say, be more today. I can't take the rents and magically say raise rents. I can't magically lower expenses on a property. It's very, it's a heavy. It's like a railroad, right? You can't just move it. So I can't move the value. So I'm always looking for ways to increase the value of the real estate. it. I could put a new roof on it. I could have a new pool. I could build a new theater. I could change the name. I could bring in new furniture. But all that stuff costs money. And now I was like, or I could have Bitcoin. Cost money to add to Bitcoin. But I'm going to fuse the two together. So we started playing with models January of 25. We found a $85 million dollar property

that we bought for 72. And rather than just taking the 72, and a cheaper piece of real estate, I filled up the difference with Bitcoin. Does it worry if Bitcoin drops, let's just say another like 50%, and then all of a sudden. It's already dropped 50%. Another 50%.

We bought 2,000 Bitcoin last year, and our average price is probably 92, somewhere between 88 and 92. So I'm underwater on the Bitcoin now, and it doesn't bother me at all because we're tied it, we tied it to a long-term asset. Now, if I believe Bitcoin was going to zero, I would have never done any of this.

So you're just saying the difference in what you think of, what you think the market price is of the property that you bought and then what you actually paid for it, you put that delta in Bitcoin. The delta, the discount delta. You could take discounts your whole life. Discounts don't turn into more value. Okay. You bought a car. Car was 90,000. You bought it for 80.

You still have the same car, just cheaper. And so on this specific- You're not going to sell it for more money. because you got a discount. It's still going to be worth whatever's worth. It could be worth more or less. The discounts to discount. It's something you do one time.

So rather than me buying the real estate cheaper, I bought a exceptional piece of real estate out of bankruptcy, by the way. We stole this piece of real estate. It was the last one we did. We've been elevating these. We did five of them last year. The first one was, I think it was 88 million total, $72 of real estate, $15 million of Bitcoin.

So about $87 to $88 million. So we have the two, we put them together in LSC, we fuse them together. The investors are now owning both of these, not one of these. Still cash flows, and we add Bitcoin from the cash flow every month. Every month we cash flow about 250 a month there, 250,000, and we add Bitcoin. We've added Bitcoin at 90. We've added Bitcoin at 82. We've added Bitcoin this month at 66 or 62.

Okay? So we keep adding Bitcoin. Now we fuse these together to build vehicles, a bunch of these together. So our goal last year was to do 10 up, we did five. Because I couldn't find the right real estate. Because I have to be, let's say this real estate, the last deal we did was it was worth $3.50 and we paid $2.30, stole the real estate. So what I did was I paid this much for the real estate and I stacked the rest with Bitcoin,

$100 million purchase, the largest real estate Bitcoin deal ever done on the planet. $2.30 for the real estate, $100 million in Bitcoin, about $1,075 pieces. put them in an LLC and the three of us invested in it. I paid for it and then I called you guys up and said, hey, you want to invest in this deal? What is it? $230 million of real estate that would take $350 to build it today. We'd take $350 to build it.

We could sell all these off, the units off, as condos today for a million two each times $366. That's probably a $200 million score. And we still own our Bitcoin. But we want to fuse them to. because I want to take this product. I want to take this public to the public markets and compete against the REITs. So I compete against REITs, Real Estate Investment Trust, the Starwoods, the Blackstones, the Avalon's, the Camdens. They own most of these large complexes. When you're driving around town,

you'll see these names. They own them. They're REITs. They were created in 1965. That rule is 60 years old. Those rules have not changed for 60 years. And one of those rules is you must distribute 90% of your cash to your investors because it was a, it was a tax advantage, that hasn't changed in 65 years. Those, there's 190 reits. They control $4.3 trillion for real estate. They control most of the commercial real estate in the country, and they're underperforming. Okay, they were built for one purpose, and that purpose, 65 years is age, no changes.

A bunch of old white guys, they push all their cash out so they have no more cash to reinvest in their businesses. tech companies do not push all their cash out. They pay a dividend about this big, just enough to say they pay a dividend and they keep the rest of their cash to acquire companies. Reits don't work like that. They're broken.

So I am building something that competes against the reits because the reits can never come in and have Bitcoin. We think we take this real estate asset that would normally do 12% a year or 15. That's a good real estate deal to a 25% and 30% a year by combining the two together. So what are the sum of the main reason? reasons you're bullish on Bitcoin.

Well, I believe in the technology of money. I believe the technology, if I knew nothing, I'd be like, we're not going to a gold. We're not going back to gold. Gold failed. If gold didn't fail, we wouldn't be trading in paper. So then do you think that the U.S. will adopt a Bitcoin? I don't know. I don't know.

Bitcoin back dollar. What are like the main bowl cases that you have for Bitcoin? Well, there's a number of things. I think that the technology, I think I underestimated that the internet will one day send video or that you the three of us would sit around and then you guys would clip a video and then other people would clip a video and then we'd end up with 30 different pieces of video that would live into the future forever without a movie production studio. I never imagine that would ever happen. And I think that we're not imagining what's going to happen with the

blockchain and with Bitcoin. I think mortgages in the future will be tied to Bitcoins, that a Bitcoin on a single family home residence rather than buying PMI insurance, which is garbage product worth nothing to the mortgage holder, the insurance, insuring the mortgage against the guy that gave the mortgage to make sure it gets paid, that $200 or $400 a month you're paying, that would be a much better investment for all parties if that was $400 of Bitcoin in the future, because it'll be a store of value that will increase as we print more paper. For sure, and that's a possibility, but I'm curious in terms of what your bull case is right now for Bitcoin. Like, what integration do you see with Bitcoin where it makes sense that that will

actually be the future? Because that's like, that's sort of like a speculative, like, you know, if this, then that. But there is no like evidence at the current moment of Bitcoin sort of doing that. Yeah. A store value is good enough for me. That's fine with me. I don't need. I invest in real estate because I believe it's a store value and it retards against inflation and the printing of money. property values go up if you print more money concrete costs labor costs everything goes up so i'm trying to convert i'm trying to convert a piece of paper fiat paper into something more um that is resistant and will become more valuable in the future i wouldn't invest in a video it's not what i do i don't buy i don't trade paper for paper i'm not going to trade a piece of fiat for another fiat run by other

companies. Okay, the third part of the bull case for me is with Bitcoin, I don't have a chairman. I don't have any competition. I don't have employees there. I have no payroll. I have no plumbing, no roofs, no H-Fact, no property taxes. I have pure technology. So the basis of the future of it is the technology of money. I don't think we go back to gold. I'm 68 years old this month. I've never bought a piece of gold, never had anybody offer me gold or silver for that fact for any of our I have had people offer us Bitcoin for the last 13 years for our products and services. Why do you think gold has gone up so much then? Well, because I think people are scared right now.

I think people see the U.S. dollars getting banged, you know, they're worried about the U.S. government printing money. I think that there's a bunch of geopolitical issues going on with China trying to make plays against us. But why isn't that money flowing into Bitcoin? Because I'm about 7% Bitcoin right now. If you're just a normal Bitcoin ETF, 7% of my portfolio. Yeah. And one of the narratives that I see right now is that Bitcoin is failing in the sense that gold is now the store of value. It seems as though people are putting their money elsewhere

and that we're printing more money. Bitcoin's going down. And prices are rising. Bitcoin is going down. We see global turmoil. Bitcoin is going down. Store wealth. People have moved to gold. Bitcoin is going down. Part of me thinks how much of that is the narrative has changed on Bitcoin versus are people to putting their money elsewhere. Yeah, just flows. Baby boomer scared, where are they going to go to? They've been, they've been, for 60 years, they've been pounding gold, gold, gold, gold, gold. It's 5,000 years old, man.

Somebody said it's going to take 20 years for Bitcoin to be, as a market cap to be worth more than gold. I'm like, if Bitcoin in 32 years has a greater market cap than gold, that's a 5,000-year-old product. So just new people coming in. How much gold do you have? Few ounces. Yeah. So you don't have 7% of your portfolio. No.

No. It's nothing. So I have no gold. I have more ammunition than I have gold. So, look, it's a gamble. You know, it's a bit of a gamble. It's about a bit of a lottery ticket with the real estate. If the Bitcoin goes to zero and find out the whole thing was a big scam, I still have

my real estate, still have my cash flow. But if Bitcoin goes to a million dollars. Is the Bitcoin fund being, is it fine right now? Or like, how is the... Fantastic. So how is it fantastic? Well, how would I ever be in trouble if I paid cash for it, everything? So I paid cash for the real estate, closed the deal, paid cash for the Bitcoin.

We paid cash for $2,000 Bitcoin last year. I paid cash for the real estate. Then we put a loan on the real estate for $140. So I owe $90 million on the real estate and nothing on the Bitcoin. So put the numbers together. I have $230 million of real estate. Today we have $80 million worth of Bitcoin. It's not worth $100.

So then how are you making money personally on this deal? Well, I don't make any money until we either sell the deal. Look, I don't make money on a deal until we call a promote. So until I sell a deal, I don't make any money. So all these guys on the Internet, it's like Grant Cardone's management fees. We're a 1% fee going in. I get 1% when we buy the deal. Cardone Capital does.

When we sell the deal, we get 1%. Okay, explain this to me. Okay. When I buy a $230 million deal, I get a 1% fee, $2.3 million. Okay. And is that paid to you directly or is... No, it's paid to Cardone Capital. Okay.

I don't even get a salary from Cardone Capital, but whatever. It flows through to me. I get money. At some point, I'm going to get money. Okay. We have a 1% fee when we exit the asset. So we exit the asset for $500 million, I'm going to get another $5 million. I have 35 employees over there.

Okay. Our fees are less than Blackstones. So nobody can say my fees are too much. But that's it. It's just those are the only fees that are involved? No, no, I'm telling you the rest of that we get it on this particular deal. All deals are different. On this particular deal, we're giving an 8% preferred to the investor and a 50-50 split.

So I can make a load of money on this deal. If this deal makes $500 million, I'll make after I pay 8% times six. Let's say I pay 8% a year. Let's say the deal doesn't cash flow enough. I didn't pay any distributions. I owe the investors 8%. Let's go 10 years, so it's easy. Times 10.

I owe 80% of all the first proceeds back to the investors. They're a preferred investor. They get the first 80%, and then we chop it up 50-50. if it only does 8% a year, okay? By the way, it did better than treasuries. It matched the S&P 500, if you took them all, not just the top, seven. They would get the entire eight, and I made nothing in that deal. I bought it.

I found it. I bought it. I paid for it. I managed it. I busted my ass. I'm the one responsible for distributions, et cetera, and I made nothing. Now, if it does 40% though, a year, which I think it does. us. Then I'm going to make 40 times 10 years, 400% less than 80. We're going to chop up

320. I'm going to make 160%. And I had no money in the deal. I'll get rich in that deal. But that's not what I'm going to do. This is how I'm going to get rich. I'm going to put 10 or 15 or 20 of these together. I'm going to put the whole bucket together. And I'm going to bring it to Wall Street and take it public. And that should happen this year. And that's how I get rich. And I don't really get rich in that. We're just going to raise a bunch of money from the street, become a piece of paper, card on capital will become an investment vehicle. We might take our education company and add it. We might take the consulting company and add it. We might take 10x health systems and add it, have a conglomerate of cardone companies, bring them to the public market, turn into a piece of paper,

raise billions of dollars, and then I get to become another version of myself. And so, and then I'll have to quit doing a podcast talking about 400 grand, it's not a lot of money. Then it'll be $50 million, is not a lot of money. What, yeah. On the, I'm curious still on the fee side of things, because I'm still not completely understanding. So from the perspective of the investor, the person that's like investing with you, those are the only fees that they're exposed to is like, okay, if I want to put

in a million dollars near fund, this is like the real estate and Bitcoin fund. Yeah. Then immediately I will lose $10,000 to do that. And then I put $9. Why would you lose $10,000? Well, it's the cost of, it's the asset management fee. So, okay, sir, that's bad, bad word. Like, let me just say losing $10,000.

One million dollars goes into that deal. Sure. $990,000 does not go in that deal. 100% of the money becomes an investment in that deal. Your position is $1 million. It is not $9.90. Okay, so the position is... But when you run money through IRAs, it's going to get...

Your million dollars is not a million dollars. They're taking their fee off of that. Probably a point and a half to 2%. Sure, but whenever... So you put money into Blackstone. Yeah. You put a million dollars into Blackstone. Your million dollars didn't get invested.

They took their fee right there. Okay. If you go into a private offering today, let's say you got chance to go into, I don't know, SpaceX or ABTC or, that's Eric's company. Yeah. They're going to take their fee off. It'll be through a fund that lets you invest into the private company. Yeah, and it's going to be a million dollars.

They're going to squeeze off 35,000 or 75,000 plus some legal. Cardone capital, $1 million. If you put a million, when you put a million dollars in, in this case, we raised on that deal, we raised 100 and, what do we raise? 100 plus 90, 190 million. $190.190 million is invested. So we owe 190 back. Okay.

I get a fee, 1% going in. Again, the property has to build a support the asset. This is not a make-up startup. This is not a company that doesn't have earnings. This is a real estate asset. The day one, we have cash flow. I'm not building something, right? I'm not building the microphone saying,

we got a great idea for a microphone company. I need your money to build out microphones to then go sell them. Okay, this isn't a startup, dude. I'm buying a piece of an asset that is cash flow positive day one. I mean, on this particular deal, this was in bankruptcy with Blackstone.

Blackstone was the lender. Blackstone in the state of Florida, the lender cannot take over the property without bringing it to the courts and allowing the marketplace to decide. Okay? Blackstone wanted this asset. Trust me.

They wanted it bad. Okay. I went to the courts and said, I knew the asset. It was in my backyard. We've been tracking this asset for probably three years. I knew it was in trouble. The guy's been building it for 17. Like, these things don't.

You know, they probably been thinking about taking over Iran for two or three years. It wasn't over a weekend. They decided, okay, this is our move. So I've been working on this asset for a long time. So when I saw it finally, it's going to be in problems. I went to the owner and went to the owner. and went to Blackstone, couldn't get any support from the lender.

They don't want to help me. They want it. Okay, the debt they gave him was a setup to get it back from the seller, from the owner. I went to the owner, and I went to the bankruptcy courts. I went to the bankruptcy courts

that I'm putting a stalking horse in. It's my right as a Miami, Florida resident to use what's called a stalking horse negotiation tactic where I'm going to set the big, on the asset. I bid $228 million. There's a check for $20 million. I'm risking my money. There's no investors involved at this point. I'm putting all the due diligence, all the energy,

all the risk into this thing. I'm going to buy this asset for $228 million was our first offer. We ended up at $2.35. I'll give you $20 million check right now, cash it, deposit it into an escrow account. And I will close 10 days after you award the deal to me. with all cash. No due diligence. So now they have to say public announcement, they have to accept it. Public announcement,

Grant Cardone, put a stalking horse in there. They have to tell the marketplace now. You guys have until, I think this case, it was May 15th to bid. They sent it out. 14 institutions showed up. All of them are big boys.

It's a quarter of a billion dollars. Okay, so who's going to come? And ain't going to be Johnny in his, you know, $400,000 income. Yeah. So he comes in, they come, the institutions come in, all the big builders, the big players, the Stephen Ross is like tremendous amounts of super money,

way bigger money to me. I'm competing with giants. They come in and say, yeah, dude, we can do the 228, no problem. Hmm, that $20 million today? Yeah, we got to go to committee for that. If they're a big institution or a big reet, you can't just swing in, slinging like I do. I'm a little guy, dude. The only advantage I have in the marketplace is swag.

It's speed, you know, like, is a little bit of overconfidence. That's my damn, this is my gear. My gear is I can do this deal. I don't know if I can do the deal. I don't even know if I can raise the money for the deal. So what do most people get wrong about? the way your business works. They don't ask me like you guys did.

They do YouTube videos without asking me. That's the main thing is like, like. Nobody that has any negative comments about Cardone Capital or what I'm doing has ever interviewed. Do you, do you allow them to reach out to you that if they wanted to discuss and ask, is there an open channel? Well, you guys have reached out to me. I've never not responded. So what we'll typically do, just so the viewer has an idea, if someone wants to come

on the podcast. So, for example, this was a very, very last... Have I ever said you guys can't ask me about anything? No. No, you've been fully transparent about everything, which is really great. Yeah. Yeah. Because some people are not. But for you, yeah, you were just, you walked in. If I ever asked for a, hey, guys, let's talk about what we're going to talk about first? No, no, no. You didn't ask for a brief. And I will say in, in, from our last episode, too, you didn't ask us to cut anything. Yeah. I would never. There was not a single thing where you're like, hey, people actually ask you to do that? Yes. Oh, yeah. Yeah. I mean, I would never. Do you, look, I did it. Use it.

The point is to the viewers, like, do you're going to make mistakes. Now, now, should I say that? I don't know. There's nobody, nobody regulates what I say online. Nobody's allowed in my office to delete anything. We used to, we used to have that. People would be like, you can't say that. We were raising money.

We didn't know 12 years ago. We started raising, or 11 years ago, we started raising money. And my office was petraud because the SEC is like watching everything. Okay, so the thing that we do here on the ice coffee here is, if we have someone in the podcast, what we will naturally do is look up like, okay, what are the main controversy with this person. Yeah, yeah, that's where you get your juice from. Well, that's just what we should be asking questions about.

It's good and the bad. You don't want to tune into a nice coffee hour podcast and it just be like a lukewarm thing. Like, we're going to do our best, no matter what you may think. You truly will be doing our best for every single episode to touch on all of the topics that you want. Sometimes we can, sometimes we can't. We'll put like 20 hours of research in every single podcast. We didn't on this one because we found out yesterday were filming it today,

which we were very lucky to know that you're going to make it happen. I've probably done at least 100 hours of research on brand. Yeah, yeah. And so in doing this research in the time that we had, like the main controversies surrounding you would just be mostly around the fee schedule for your Cardone capital. People don't quite understand it. And I still like don't even understand it. Well, goddamn, what don't you understand, bro? Like, like, what's your IQ? My IQ? Oh, gosh. 70. No, I mean, God damn, it's one percent. Let me go over it again. It's fucking simple. One percent times whatever was raised when we buy it. What was the, what did the mortgage broker charge me? One percent, probably a half to one percent. What did the broker charge?

A half one percent. What did the state charge me? All those become fees on that deal. Okay. There's a lot of fees. Not just me, other institutions, other people involved in the transaction, title, escrow, et cetera, okay? Legal, legal, you know, probably on that deal was probably $100,000.

That gets added to that deal. Now, we're all invested in that deal. I am, you are. With the three of us split the deal, three ways. we all have the same fees. We're sharing in that. I, in addition to whatever upside, I get a 1% fee that you didn't get when I bought the deal. I found it, I funded it, I negotiated it.

I went through all the bullshit. And by the way, you're going to hold me responsible for whether it works. When we sell the asset, in that case, we bought that $230 million, let's say we sell that asset for $100 million more than we paid for it, just for simple math. I think we will, by the way. It's worth a hundred million more to build it today. It would cost at least $130 million more to build it. I just happen to find a great deal and get it.

If it made $100, I get a 1% fee when we sell it. Out of the 100 profit. Before we do our split. And is there no potential for fees between the two bookends? If I refinance it, let's say seven years goes by and I take the refinancing fit, it's $140. and all of a sudden the asset's worth 500 million and I can borrow another 100, I get a 1% fee when we return your equity.

It's called a refinancing. So that would be the only fee that's... 1% to buy it, 1% to sell it and a 1% refinance fee. What about the claim of like... And by the way, you want me... Hold on, I'll do that. Okay.

We're not even talking about the Bitcoin yet, okay? We're just talking about the real estate, okay? Because again, you want... The guy that's your partner, want me to make money because if I'm making money, you're making money. Okay? So when we refinance it, seven years from now, that's our goal, one of our goals in this project is I would refinance the asset. We put $100 million to buy it for round numbers. Just the real estate. Forget the Bitcoin. We also raised $100 million for the Bitcoin. So we'll leave that aside for now. So a year from now,

I'm like, hey, guys, I got great news. What? I refinance the project. For me to refinance that, means it had to go up in value for me to refinance it, pay off the old mortgage, get a new one bigger, and then return everybody's money. Here's your $33 million. Here's your $33 million. And I get my $33 million. Okay. By the way, I get a little one point. And I'm going to get anything above that $100. Did I return to you? I get a split on. Guys, I didn't just do $100. Here's your third. Here's your third. Here's my third. I got another $1,000. And you're like, God damn, bro. Did you sell the Bitcoin? No, bro. We still own the Bitcoin. Okay, I get half the Bitcoin. I'm sorry, half the upside of that hundred.

I'm going to give you guys 50 million to split and I get 50 million. You got all your money back plus 25 million, 25 million, and I got 50, okay? Because on this deal, it's an 80, it's an 8% preferred and a 50, 50 split. That means if it took seven years, you earned 8% a year while you waited, to get back your hundred and another 25 million. And you're like, Grant, did you sell the property? No, bro, we still own it. Well, Grant, what's my membership in it?

One third, one third, one third. I didn't dilute you. I returned all your money. I made money. You made money. You got your cash flow. You got your 8%. And not like Blackstone, not like the institutions in the REITs.

They would pay you your hundred back, say bye-bye, and they would own that asset. We still own the asset. We did that twice last year. twice last year, I returned 47% on one deal. Fund one, we returned 100% of all the money invested to our investors, annualized nine years at 47% a year. Fund one. Fund two, it was 27%. This is after all the fees, all the splits, all the promotes. See, this is what these guys that do videos that are clickbaiting me, they never get to actually get into the numbers. This is great. This is why we like to ask the questions and why a lot of people believe when they come on the podcast that it's not

in their best interest to let us ask whatever questions you want to ask, but that's not true. It's always in the best interest to be transparent. Okay. Now, we're not going to change the minds of those out there that want to clickbait my name. You're not, I'm not trying to change your mind. Dude, I love you guys, by the way.

All you punks. I love you guys. I understand. Keep playing the game. Click bait my shit. Say whatever you want. Use the thumbnail. Don't, don't make accusations that aren't true.

when you know they're not true because I, you know, if you have anything, I will come after you. But I'm telling those guys right now, do your thing, dude, do your thing. Just don't go into defamation because the moment you move into defamation and own something, if you own any property, I'm going to come get it from you. And if you don't own anything, play your game. Because I'm not going to sue anybody that doesn't own anything because there's nothing to get. Why don't you make videos directly addressing those people? Too busy, too busy posting fake AI. I just imagine the ROI would be. I don't. I don't. I have I had an investor the other day, call us. Man, I'm really concerned about this one guy that's doing videos,

and you should go and respond to him. I'm like, bro, you know, the fireman don't stop for every barking dog on their way to a fire. It's real number one of the Internet, man, is you can't respond to everybody. And once you start doing that, then everyone else is like, oh, he's going to respond, yeah. That's just not true, though. I would agree. You could say it's a barking dog, but what if it's another house on fire on your way to a house on fire? No, it's a fucking dog, dude.

I'm just saying, I do think that, like. this is actually not a barking dog. This is fleas on a barking dog. That's fair. So you got to pick what you, look, the last time I was here, I was also involved in a $100 million defamation suit that was very public with John Leisure that was a CEO of T. It was very big and very nasty and very noisy. So why would I do that?

I initiated that and then leave this other thing alone. It's a business, it's a business strategy. This is what Trump. so good at. What was the outcome of the T-Mobile lawsuit? Well, I can't say what it was this, you know, we, we, we, we, everybody's good now. Okay. So, and you're happy, you're happy with the out. It was, I'm very happy with it. I'm thrilled. So, um, you know. Okay. Okay. Very, very happy. Look, I don't start anything that I'm not going to finish and I don't start anything that I'm not going to win. Like, I, it's a, you know, it's very important.

that if you're going to walk into a battle, you know you can, you need to come out of that battle. Like, you don't want to battle forever. And coming out a winner is really important. So don't start some shit you can't finish. And where there's not a positive outcome. And hopefully a positive outcome for everybody, not just my side.

The perfect scenario would be I win, they win, we all win. And, but I can't get into the exact settlement of the numbers and all that, just because we're, both sworn to confidentiality. Yeah. So one thing that's heavily debated online is people can't figure out your net worth,

which I am sure you probably are very amused by. You see all these articles. Oh, it is speculating he's worth 400 million. It speculated he's worth 1.6 million. Yeah. Why do you think people have no idea what you're worth? Yeah, because I'm private. Because I'm a private individual.

So I'm not publicly held. So Forbes is never going to list my, I mean, unless I went public. If I went public tomorrow, I'd be on a Forbes list. What do you have to lose by going public with that information? Well, I mean public is a publicly traded company. I know, I know, but I'm saying by disclosing that, I should say. Well, because Forbes is not going to go do an audit at their expense of my privately held companies and their value. Like the people that are talking about my network, they don't, they'd have to know what 10x health systems were.

They'd have to know what my position is in 10x health system. Then they'd have to know what Cardone Ventures is worth. Then they have to know the income, the gross revenues of my cardone training technology. is the education portal and our net profits. Then they'd have to know what Cardone capital, the investment vehicle, is worth, because it's worth more money than probably the other three, because it continues to raise money, long-term, sticky money for long periods of time. It's the most valuable of all the companies.

Probably second, yeah, first and then 10 X-South system. 10-X-South system is going to be worth probably $4 billion. And then the fifth company would be my holdings and all the real estate. state. So now, who's going to go do an audit on all those things? Fair enough. Yeah. Why do I need to do it? I know what the net worth is. And by the way, I know the net worth is a, it is a complete vanity number. Okay. It's too low. The internet is lower than it is. But the vanity, it's a vanity number. If I told you right now, it's 1.7 billion. $308,000 and $929 today.

It's a vanity of none of it's even spendable. Because it's all tied up in equity. It's all illiquid assets. Could you answer this? Are you a billionaire? 100%. No, I can't tell you 100% that I am because it's more than that. So you're asking the wrong question.

How much more? Is that the right question? It's over. If I could liquidate the assets. But I can't. So it's like, again, we're back to vanity numbers. Like, what, what's the purpose? It's more than I ever dreamed it would be.

It's the lifestyle. And it's less than it should be. So. And it's less than it will be. So we just heard someone say that if you have $100 million, you could basically do 95% of the stuff that a billionaire could do. Is that true? That's not true. I mean, I've had both of them and you can't.

You can't. There's things I can't do, dude. There's things that I cannot do. What can't you do? I can't go buy a yacht tomorrow. Because I know I know the vote I want. I can't buy what I want. What do you want?

I want a 375 foot fed ship. How much will that cost? It costs probably $400 million. Why not? And another $40 million a year. Why not just lease it? Because I wanted to be mine. I want it to be mine exactly the way I want.

I know. I mean, I could, dude. Like I've done three summers like that. You know, that's cool. But, I mean, it's something I want, right? Like, why do you want to go to Korea? It was a good deal for points. Yeah, I know, but that's the only reason it was...

I haven't been, but, you know... Yeah, I know, but at some point, at some point the deal doesn't matter. It's what you... There's some things I just want, right? And it doesn't mean it makes sense. I mean... How much do you have to be worth

to be able to buy a $400 million dollar yacht? Yeah, it's a good question. You know, you need, you need... You need 400 million because you want to pay cash. cash flow. And then you need to be able to say, hey, is there a way to write that $400 million because I would put it in the charter? And I'd probably use it 10 weeks in the year and chart it the rest of the time because I want that big spank in the beginning. If I can, if I can get that.

And I'm not sure I can. Some people believe I can. Some people think that. And then you've got to figure out, okay, how do I make sense of $40 million, $3.3 million of negative cash flow a year? And you didn't earn any money on the 400 million because this boat's going to zero. Yeah. All boats go to zero. Planes go to zero. Everything goes to zero.

Now, I think there's a world that we live in right now where we're going to go from 3,000 billionaires to probably 9,000 or 10,000 billionaires and those guys are going to walk around the planet with an economic footprint that is so massive. They're all going to want boats. They don't want a charter.

they're like, bro, I want my boat with my toys, with my name on the pillows. Like, you're talking about immense amounts of money. Trillion dollars just hit Miami. Mark, Ellison, Griffin, both Google Boys. Like, the list goes on and on. A trillion dollars hit Miami in the last five or six weeks. Yeah. Trillion dollar footprint.

Like, that's, that trillion dollars will be, those guys will be worth two trillion dollars here in the next five or ten years or less because their money is just going to just explode. So I think you need, I don't know, dude, I can't make sense of it. I just taught myself out of the boat. Why are you talking yourself out of it? Because it's because it's so impossible. It's like I'm never going to be worth enough money. I'm going to say that's probably $10 billion to come to believe.

Because at that level, you just have to be able to write a check and not pay attention to it and not have it bother you. Because as soon as you run the numbers, you lost. The $10 billion needs to earn at least $500 or $600 million a year. That's how these guys are doing. They're like, okay, I'm going to pay it back. every month I can pay it off. So you know, you need a lot of money, dude. You need a lot of liquid assets that are rolling.

How badly do you want it, though? Because what I wonder... You talk me out of it pretty quick. Yeah, that was that was fascinating. What I wonder is, like, if this requires you to grind away for five more years of your life to be able to then afford... This doesn't require to... This is when you have to give up...

You're trading time and energy resources and stuff like that. This is when you have to trade the grind for a play. I can't be Grant Cardone, the grinder, and get that boat. I have to be Grant Cardone, smart, public markets. Everybody that owns these boats is public. Every one of them. They're all public. There's no, not public.

They're all public. The fatigas, all of them, dude. Facebook, Jeff. They all own these big boats. They did, why? They leveraged paper. They turned an idea into a company. Company became a piece of paper.

paper became explosive to tens of millions or hundreds of millions of owners. That value goes up as they continue to report good news. And that's the achievement. Now you're hanging out with a bunch of guys that you have something in common with. You have the best and worst thing they've ever done, buy a boat. Aside from buying a boat, is there any other thing that you want to spend a bunch of money on? For example, that watch. Oh, my God, the watch is crazy.

No, I hate this watch. Why? Are you serious? I hate this. Why do you wear it? Because it went with my jacket So I brought it on this trip Yeah, I hate this watch

What do you not like about it? Because it was a terrible investment How much fun is? I bought three Richards And I hate all I knew when I did it You know, there's some things that you spend money on

You're like, I'm never spending money on that Like it's just kind of a moral thing I knew this was stupid I knew the timing was wrong That market was hot I'm like it's gonna pull back Why did you do it? I wanted to watch dude

How stupid can you go But why? You know, there's a song written called cash flow. And it has my voice in the song. And in the song, it says, how stupid can you go? You can go as stupid as your cash flow.

This is a stupid investment. But I paid for it out of passive income. How much did you pay for that watch? I forget. You don't even want to know. No, not really. It's probably worth more than it was then. But do you not like the watch because it went down in value?

No, no. I don't like it because it represents. This is a crazy watch. Could I see it? It represents... You're not supposed to throw it? It represents... It's a house, dude.

It is. How much is that, watch, Graham? It's got to be 400, 500, 500. Yeah, I was going to say maybe like 300, low end. It could be five-th-th-th-old. They have so many models or Richards. But I owned another one, a black one, that was a million-dollar watch. Big watch.

And it was stolen from me. Do you have insurance on that? Off my arm, no. I didn't have insurance. But look. This is a whole total hype deal, okay? Like there's no gold, no, you know, this is junk. Yeah, but it's the engineering and the precision of the launch that people look at.

I don't think so. I think it's a terrible investment. That's not even moving. Yes, it is. Oh, it is moving, sorry. Yeah. I don't know how to read it. It's not even moving. There's too much stuff going on in the face.

Yeah. So anyway, but it represents to me a bad choice, a poor choice. You know, it's not me. This is not what I would do. Now, there's a paddock I own, a green paddock. Oh, I've seen that one. That was the one you're talking about. That watch, I don't regret buying that watch.

Yeah. That's one of 25 in the world. It'll be worth. I'll give it to my kids. I'm not giving this to my kids. 20 years from now, nobody that's going to want this Richard. The one on selling it?

I probably should. Yeah. It's a great idea. I have two boxes of watches. I wouldn't buy any of them again. What would you say is your worst investment of all time? The worst investment of all time would have been, I bought Lehman Brothers for a dollar.

And it went to zero. So you made an infinite loss? I lost one million dollars, not infinite. Oh, I thought you said you bought it for $1. I bought it for $1. I bought it $1.00. I bought a million dollars. I got it $1 and I went to zero.

I lost a million dollars. What was the best investment you've ever made? One of the best, for me or for my investors? For you. I bought a, I bought a, well, like the largest net worth gain. The best investments I've ever made were the companies that we have. because I started, I bootstrapped everything. 10x health system, we paid a million and a half for that company.

It's probably worth, today it's probably worth $4 billion. We paid a million dollars out of future revenue, and we own 99% of the company. So that was a great deal. But it hadn't seen fruition yet. I bought a piece of real estate in Florida. I put $15 million down. I sold a house, pulled money out of a business,

and crash retirement accounts to buy this one piece of property. I paid $15 million. I paid $58 million for the property. I put a $43 million loan, put $15 million down. That piece of property's worth, with $15 in it, is worth $250. And it cash flowed every month, every year for 13 years. I've refinanced it three times. I've taken $15 back plus another $55 million back.

plus I just got $60 million back. So I've taken out all my money, plus $130 million, still own it, and it still cash flows. That's probably the best deal every day. This will be the thing that I give my kids. Yeah. You own it all personal?

I own 91% of that ass off. My brother and my sister own some of it. But I'll probably pass that on to my kids if my kids are listening, if they're nice to me, always. How much do you spend per month personally? Not much. I don't spend a lot of money.

What do you think you spend per month, like $50,000, $100,000 a month? Yeah, maybe. You don't know if it's like, you have no idea how much money you're spending per month. Well, I mean, I could figure it out pretty quick right now. I don't have a mortgage on the house. Like what's on the Amex statements? Oh, that's, most of that's going to be run through the company.

So it's all business. This trip I'm on is a business trip. So I have a secret meeting tomorrow here in town that I can't talk about. You'll know about it on the 13th of this month. It's funny. I asked about it. You wouldn't even tell me. It'll be all over the media on the 13th to them.

I didn't know what it is. But it's a secret meeting. that I'm sworn to super soon. He bought the hard rock. No. No. That's something I wish I could do. Like I would love to own one of these big places.

But I'll leave that to- I could see you as a casino owner, like Steve Wynn. Like, how much you spend per month? Oh yeah, so what do I spend? Like your wife, your kids? Well, I mean, I get notices $27, $42. You get notices for that still? Everyone.

My kids' credit cards are tied to my phone. And what do you look at? Just the dollar amount? I get my wife, yes, yeah. I said, who the hell keeps hitting this goddamn account for $127, $65? Who was it? She's like, oh, I'm buying Sabrina some clothes for this event she's going to do. I said, okay, okay, it's approved.

And what, like my, yesterday Elena hits me. Hey, I got a bid to clean the deck up on the house. It's, I got one bid at $8,000, another bid at $12,000. I want to go with the $8,000. Is it approved? I'm like, yeah, it's approved. But I even said, hey, don't do the same. stain. It doesn't need to be stained.

That's funny. To save a little money. She's like, it's more money to sand it. I've already done it. I said, I don't think they can stain the right. She's like, oh, yeah, they can. I said, okay, it's a proof. So, I don't know. What dollar amount do they need to run it by you before spending the money? It depends on who it is in what department. Like the ad budgets, the Jared runs. This is you personally.

It's personal stuff. Oh. They're supposed to run everything about me. You know? So even like parking. No, no. They list of valets. Parking. No.

And you don't give them like a certain budget per month that they can or can't spend. Who are you talking about? Like your family, like the personal expenditures. No, no, no, I didn't understand that. My wife has her own money. So she has her money and my kids have their money. So my kids like, hey, I need some money for, dude, you got money. Dude, don't call me.

They kids never call me for money. They call their mom. I keep seeing these credit card things. Because then the mom always does it. They will never call me for money because they know I'm going to say, you got your own money. And how are your kids making their own money? Because they invest, you know, they had a salary to work for the company. I thought we talked about this last time.

Yeah, yeah, yeah. The kids have a salary. They have a responsibility. They haven't gotten their salary this year. And if they're watching, they haven't done what they contracted to do, so they won't get their salary. Would you ever fire your kids if they're not doing a job? Sure, 100%. And then would you hire them?

back or everybody? No, no, no. Like a one shot, yeah. Dude, I, I had a text message you went out today. Hey, both of the kids are not performing their duties. Don't pay them this year. So. Are you worried about violating some labor law? What we did?

Let me just go back and back. No. Look, if you can't abuse your kids. Who can you abuse, right? So, and if you can't write your kids off, like, like, every family should be writing their kids off. As a write-off is a tax deduction, not. I can't write off an allowance. So if I give my kids $500 a month, it's an allowance.

It's an entitlement. It's like it's a gimmee. You can't write that off. But if I give them $500 a month is a salary. But then they have to pay tax on it. That's right. So it's a way that you can, you can like in my case, what I do is I paid them. I paid them one fee a year.

I think the number is 50 grand. 50 grand a year. Yeah. Now, I could give the 15-year-old a $50,000 check, but it wouldn't be a responsible. thing for me to do. So how do I control that? I take the 50 grand. I said, this is, you were paid 50 grand, better for them to pay taxes than me. Yeah. Yeah. And then I take the 50 grand and I diverted to Cardone capital. So they become an investor in my project. Do they want to? I get a 50. I get a, I get a one point on that. One point when they buy them. By the way, at one point my kid and my wife,

and by the way, you'd pay the same one point. You're saying this everybody's, uh, say, They get preferred? In the case of the last deal, they would. They're all invested in that deal, by the way. Every one of my family members are invest in that deal. My brother, my sister, invest in those deals and my kids. And I want to point on the way in and on the way out. Okay?

So watch what happens now. That money then goes to Cardone Capital, and if it pays cash flow, then that's what they live off of. So let's say they invested 50 grand to that project and it paid 5% a year. They're only going to get 5% 25%. $2,500, what is that? $200, $200 a month. So how much can they spend a month? How stupid can you go? You can go as stupid as your cash flow.

So they can spend $200 a month off that one investment. Now, Sabrina's got like $8,000 a month coming in because she's invested in every project. So she could spend $8,000 a month. She's 16 years old, done with high school. She gets $8,000 every single month. Papa, I want a Cartier, Panteer. I'm like, buy you something? tough you got your own money and she does i know what she's got i know what her networked and she's

like i don't want that bad you buy it when do you think she's going to be a millionaire well uh she already hit it yeah she's getting 8 000 a month so a hundred thousand dollars a year which is there was a there was a another deal i talk i can't talk about yeah there's a private deal that i can't talk about But she, as part of this transaction and negotiations, earned a million dollars. Wow. Earned one million dollars? One million dollars in one deal.

She was 14 years old. What did she do with them? I can't talk about it more than that, but it was, I've mentioned it already in the interview today. I'll give you that hint. Okay. And, but I can't go into the details of how, what she did, I mean, it's nothing, nothing weird.

I mean, but it was something brilliant. Did that change her mentality when it comes to money? Well, yeah, because the next year, last year, she owed $400,000 in taxes. I said, but you understand, you have a million dollars. You can only use $600. She took the $600 and immediately invested it. And I said, she's like, why don't I invest a whole million? I said, because you got a $400,000 tax bill in that year.

It's actually going to be $3.8. She doesn't have the tax write-offs. Why wouldn't you have her get something where she gets bonus depreciation on that and then because she needs, in that case, she just could. couldn't get enough to get it. And she's not a professional. She's not, she doesn't fall under 469. That would be the first thing I do is get her to qualify real estate.

Yeah, you're probably right. Yeah. We didn't do that. So, you know. Wow. What kind of car did you end up getting at? We got her at Tesla. Okay, model which one?

Why? What's the entry level? That's what I, that's where you got picked up. Yeah, yeah. That's a great car. Yeah. Yeah. I did that really just support Elon.

Do you talk with Elon? No, I never have. Do you talk with Trump? I have. Have or do? I have and do. Yeah, they did the interview you guys. So you, yeah, but like, sure, but like, does that mean that, you know, you could shoot him a text and he'll like.

I could. What's the last conversation you guys had? Christmas Day. What did you say or what did he say? Just told him he's doing a great job. My wife was like, why are you calling Trump on the president? You called him? Yeah.

On Christmas Day, I said because probably nobody else will. That's true. If he's getting one phone call that day, you know, his fun's not going to be blown up. And what do you just say, Merry Christmas? Like, hope you're having a great day? Yeah. He says, wait till you see what I do this year.

That's hilarious. Yeah, yeah. Interesting. Who do you go to for advice? Man, look, I study a lot. you know, like, I don't really go to anybody and say, what would you do? I mean, my friend Bob Duggan that's taking a number of companies public, I've asked him for advice.

I've sat down with Michael Saylor probably five or six times about our real estate Bitcoin hybrid. So I've gotten a lot of input from him. I've met last year we met with eight banks. I don't think it's the kind of advice you're talking about who do I go to for like mentoring or whatever. But most of what I do now is I'm reaching outside of my own network to say, hey, I need to go find out what does the people of Bank of America know? Jeffrey Horowitz created is probably responsible for every reet that was created in this country. It's $4 trillion. If I could get 5%, like,

that's what I'm like, how do I get 5% of a $4 trillion market? That'd be $200 billion. Now I can buy, now I can buy anything I want. I could have two boats, dude. I can have one over there and one over here. Shit, because now it doesn't matter. But so I'll go meet with Jeff. I'm trying to get access to those kind of guys to say, hey, guys, look, what's broken? How do I fit in here? So we met with eight banks last year that gave me tremendous, a bunch of great feedback about what I could do to really scale up. What's your best piece of non-financial advice?

You know, value your family, like, play as a team. You know, there's times where I forgot that we were a team. Like, if I could go back and fix stuff, like, I mean, like, Elaine has been so. so beneficial to me, the kids. I used to say, man, I don't regret waiting, but some ways I wish I'd done it earlier with the kids and the wife. I wasn't ready, though. So it wasn't, doesn't matter because I wasn't ready to have a wife and I wasn't ready to have kids. But that team, man, solidifying that team and honoring that team and knowing your team and, you know, that is the most valuable thing. Yeah. And the other thing is the money really, look, I,

I can think back times in my life where there were happier, funer times than just the life, you know, the creep up. The piece of advice I would give people, when you're on the grind up, do love it. Because one day you're not going to have that and you're going to miss it. It's so painful. It's so nasty. But if you can live through it and get through it, you're going to look back on that time that was the richest part of my life was the richest part of my life was on the grind up

when it was 18 hour days getting up at 4 o'clock in the morning, scared, terrified, not sure, feet hurt, you know, those times were so rich that you can't buy it with watches and cars and planes. But no matter how many times I say that, it's still fucking painful. And it's not fun. And most people don't get through it. But if you get through it, you're going to look back and say, like somebody asked me, would you rather win a billion dollars or earn a billion dollars? And I'd be like, dude, I'd rather earn a billion because the first one's not, you can't do the first one again.

You can do the second one again. See, it's easier to earn a billion dollars than it is to win it. And what period of time in your life were you most motivated? Well, I would say that if you asked me that the last time I was here, I would say probably when I was 35 or 40. And then, but the last time I felt that was when I did a five-day fast about two months ago. And I felt like I was 28 years old again on the fourth day. I was so motivated, dude.

Like I felt like I was all of a sudden this electrical unit that was just popping off. How long did it take for that to kick in? It was on the fourth day. Why do you think that happened? I did a three-day fast. Three weeks later, I did a five-day fast. I did a three-day fast. You just like you've lost a little worse.

Oh, thank you. Yeah. Thank you. I'm probably just cutting up a little bit. Yeah. So I did a three-day fast. My sister called me and said, hey, I think I have cancer. They want me to come back in.

They found a spot on my lung. I said, okay, good. When you're going back in? She's like, in two weeks. I said, no, you're too. Good. Okay, I'll get you to the empty answer in two weeks. I said, what we're going to do is on a Friday.

What we're going to do right now is we're going to start a fast. And I said, you're going to do a 72-hour fast. fast and you're going to freaking just she's like what do you mean we're going to do it I said I'm gonna do it I'm in Miami you're in Houston I'll do it with you and we're going to do it we're going to do a 72 hour fast she's like how do you know it's going to work I said fuck I don't know if it's going to work I don't I don't know shit I just know this if you starve your body the cancer has nothing to live off of you can give a shot man I've seen some bullshit on the internet they say uh fasting might work if it costs nothing let's try it do I need to go

I'm your doctor right now we're going to fucking do this let's go call me doctor G Okay. So anyway, she agreed to the fast. I'm like, maybe I'll just lie to her not do the fast. And I'm like, I got to do the fast now that I said I would do the fast. But I had 800 people in town Friday, Saturday, and Sunday. And I'm like, I got to fast and speak to these people and go to their lunch and VIP. Anyway, I did it. So if you ever want to fast, just stay busy because it's really easy if you're busy in front of a lot of people. But I had to produce on my feet for 28 hours a day every day. while fasting. And it was easy. And I felt great. Three weeks later went by, my wife, my sister, by the way, didn't have cancer or she was cleared.

Three and a half weeks later, I said, okay, I got to try a five-day fast. See what happens on the fourth and fifth day. And the fourth day was like, it was like a thousand X. Are you working out fasted? Yeah, uh-huh. I did coffee and tea and water.

No supplements, none of our supplements. Is that like a common response to fasting for that long? Like what was the hardest today? Probably the hardest thing, it's a bit of a mind fuck, right? You're like, I'm going to stop eating and you're like, oh, damn, I want a donut. Like almost instantly, you're like, I want something to eat first. It's a weird, it's a weird mental trip. The second day is a little hard because the body's craving food.

If you just deny it, then it's going to go consume whatever. left in a body. The third and fourth day were like piece of cake. On the fifth day, though, the fifth day, I didn't actually finish 100, 100, what is it? Five times 24 is what, 120? On the fifth day, my body was like, hey, we want to it down. I was getting signals from my body in about 110 hours. There's no upside from here. No. There's no benefit of going another 10 hours. Just do your thing. What was the first meal you had? What did I eat? Rips. people are like, oh, don't go in heavy. I'm like, what do you think people did a hundred years ago?

You go five days, you had to fast because there was no food. It's in the middle of winter. There's nothing to kill. People fast all the time. You finally get a kill. What are you? Oh, we can't eat. That's a little heavy.

That's a fucking do some broth. That's some fucking stupid. Eat. Everybody ate like a feast. So. Yeah. Interesting. Yeah, when it comes to family,

I have to say the big takeaway from our last podcast. was how good of a relationship you have with your children. Yeah. I want that relationship. If I have a daughter, I want what you have with Sabrina. Yeah, thank you. Because I just saw the way she looked at you. Yeah.

And the way you treated her and saw her and wanted to push her out of her comfort zone. I really admired that. Yeah, thank you. Yeah, it's a, like, if you took everything away from me, you know, it'd be the kids, man. Like, even more than my, you know, I don't want my wife to hear this, But because I wouldn't have the kids without the wife. My wife's been a great choice for me.

But the kids, man, there's nothing richer. How do you do, how do you raise good kids like that? Well, you know, it's always like, okay, is this going to always work, you know? I'll keep waiting for the other foot to fall off, you know, the shoe to fall off. Okay, maybe they're going to turn on me. You know, they're 16 and 14 now. So, you know, I invest time with them, man. I spend a lot of time with it.

I've changed my whole schedule. I have never not taken their phone call. They called in right now, I take the call. I bring them to meetings with me. I create stuff with them. You know, I only had 10 years with my dad, and I had, I'll bet you I didn't have 10 days out of 10 years. And I just, you know, like, I'm going to spend time with these kids. That's why we homeschooled them.

We didn't homeschool them because we thought it was good for them. We thought it was good for me. Really? 100%. I'm like, I could see them in the morning. I'm not going to drive. We're driving in school. I'm doing the drive to school. So that's not quality time. You know, they're six and eight years old. You're missing the best, the best moments of the life. You're driving them to school, to what, to go to prison?

And then I got to go pick them up on their schedule. And then we went to the school and I said, I want to take my kids out of school for three months. You can't do that. I said, what do you mean? I can't do that. How about this? How about I just take them out forever? We took them home and started homeschool them. And so when I, leave in the morning, they're there. When I come home, they're there. Or I say, hey, go to work with me. So right now they're working on two programs,

but anytime they're home in Miami, they're going to be in the office with me, making calls, listening to calls. What values do you try to install on them? They've been in, they've been, I had a guy named Johnny that's worked for me for years. Sabrina, no, Scarlett was sitting there. Johnny came in.

I said, Johnny, I need this and this none. He's like, oh, da, da, da, da. Start to give me some bullshit. And I'm like, hey, what the fuck are you talking about? I forgot she was there. I said, I'll fucking smoke your ass right now, get you the fuck out of here, you've been here. I don't want any back.

And she's watching all this. And then she watches me go back and say, Johnny, man, I might have overreacted there. And he's like, no, you didn't. It was right. I was acting like a dick. I said, you fucking ain't right, you were. Never do that again.

And Scarley got to see all that. And she got to see me go back and talk to him. And she got to see him come back and say he was wrong. You know, Sabrina was in one of these very, very big negotiations, big, massive deal. She got to watch all the parts of it. People are getting emotional. People are accusing people.

Sabrina and Scarlett were both in Bank of America, Wells Fargo, J.P. Morgan and Goldman Sachs meetings where we were talking about taking the companies public. They're in these meetings. Listen to all these extremely intelligent people. And their job is this. Your job is to take notes. They both have to take notes.

They're just sitting there. The bankers at the end are like, what did you guys write about? And I said, you write down everything you don't understand. You write it. Anything you don't understand, you write it down the word, and we'll go back and look them up later. Wow. So that's, you know, I invest a lot of time with them, man.

And in some ways, it's overpowered me being a better husband. Because I've thrown myself so much into being a parent that, you know, like there's sometimes there's not enough left over to say, I need to be spending that same time on my husband. my marriage and with my wife and honoring her and spending time with her and including her. So it's got a little bit of a trick, you know. Yeah. Do you think that your kids are happier this way, or do you think that there's a part of them that, like, a part of a child? He always goes there.

What? I don't know, dude. How do I know which way they'd be happier? You could ask them if you enjoy and they're happy. But they'd have nothing to compare to. So look, they lost a lot of stuff by being homeschool. They're not part of the soccer team. They're not cheerleaders.

They're not part of the club, whatever clubs you're doing today. So they don't get all that. Do you think it's worth it to let them explore some of those things just to have that experience? I mean, you know, they're 16 and 14. Like they're exploring stuff. They, you know, I know their kids, their friends, thank you. I know their friends are all talking about whatever 14-year-olds talk about. you know, Sabrina's dating.

So I know what I was doing when I was 15. Yeah, what's that like? Dude, it's like, okay, bro, you just got to, you just got to like, understand. She don't grow up, but I'll grow up. So you got to wish for her to grow up, you know. Like I always say, I don't want to get older. Yeah, Grant, you actually want to get older. Because if you don't get older, you die.

So my kids have got to grow up. They got to grow through it. Do you do background checks on the, like, if she's gone on a date? Put a P.I. on the guy she's going out with? Seriously, I think it's, right? You think it's smart, right? Yeah.

If I were you, I probably would be doing a lot of research. Yes. Of course. Sounds like something. Would you do a background check? Would you do a financial check on the family members? Probably not a financial. You would think that maybe they put the guy up to dating your daughter so that they

everybody wants to date my daughter. Are you kidding? Like, you know. Maybe not the financial. check, but I do like a criminal background. You're just not, you're just not. So what if they checked every box, but they came back is broke? Yeah.

Well, you can be with them, dude. You're not, you're not, those kids aren't getting any money. Like, why, why would, I would tell my kids, look, why are you by, why are you with a guy that can't produce? Well, it's a kid. My kids produce. So who's paying for fucking lunch? Who's paying for lunch?

Who's paying for lunch? Let me ask you that. And so you'd be livid if your daughter. daughter went out with a guy and she paid for lunch. Over and over again? 100%. If it becomes a... I'm like, hey guys, like, who's paying for lunch?

I ain't paying for it. All right, totally everybody I'm not paying for it. So you got $8,000 a month. Scarlett's got maybe $3,000 or $4,000 a month. Okay, you guys are going to deplete your funds here. You're with a kid that can never pay. You're with a kid that can't be in exchange. He's not going to even feel good about this shit.

He's going to feel like your little bitch here in a little bit. He's going to resent you, okay? You never want to. have that much power in a relationship where you're paying for everything. So when we go to lunch, sometimes my kids pay. I'm like, you guys pay for lunch. How much is it? I don't know. Is your fucking bill? It ain't mine. It sounds like having kids was a good financial decision for you. Well, it has a 1%. You get the money back into the fun. But why should my kids? Like every time a bill comes with when I'm with my kids, okay, I'm like, you want to pay for it or you want me

to pay for it? Okay, good. I'm going to pay for it. I'll pay for this one. But you tell me how much we should tip the, tip the waiter. Well, how much should I tip? I don't know. How good was he? Wasn't very good at all. Good, put zero. And you send, you give it to the waiter. I wanted to tip the guy. By the way, tell him, I wanted to tip him, but you didn't because you thought the service sucked. In all those exchanges, however they turn out, she's learning something. You know, Scarlett, on the other hand, is like, I want to give them 20%. So do you want to give everybody 20%? Because it's my money. let it be your money let's see how much you want to get and then they're like shit see they learn

they don't learn by me telling them you know what's interesting is i asked you if you'd be okay if your wife made more money than you and you're like well good luck basically yeah and you're raising a daughter that will likely end up making a lot of money she's already made millions and so 100% in the dating marketplace yeah if she will realistically be the breadwinner and whatever relationship she ends up getting into correct or in her fault Maybe not. I mean, no, no, she could marry up. She could marry up. Yeah. You know, she should, by the way, if she's watching this, both of them, I would tell highly recommend they both marry up. And would she then give up on, like, to be a mother, give up on all of her business venture as the stuff she's doing with you in order to then be a mother?

Uh, no, that's up to her, you know? It depends on the deadbeat she's with, you know. So, so, you know. How hard is it to like the guy that your daughter's going on a date with? Not hard. Okay. Not hard. I know, he's a likable enough guy, you know? But, you know, the question in now is, like, whose name? I've always had this conversation with him.

Oh, interesting. Whose name you're going to keep? I really would appreciate if you guys would keep my name on the brand here. And not Sabrina Cardone, Jefferson, Sabrina Cardone, period. Like, no, don't add a name. And should he take Cardone? Good for me. Fuck it, why not, dude?

More branding, dude. Now, now, now, and by the way, I don't want to put you guys in a bad situation. You got to have a pre-up. Okay, I didn't do one. I don't have a pre-nup. Do you wish you did? Yeah, uh-huh. Yeah, it was a mistake.

And I'll tell you why in a second. These guys will not be giving money if they don't have pre-up. So you guys can not have a pre-up, but you're not going to get any of my money. You will be excluded from the wheel if you don't have a pre-nup. So that takes the pressure off of them to do it. Now, why do I regret not getting a pre-up pre-up? First of all, I trusted Elena explicitly. She's not a gold digger.

She says she is. But she doesn't mean it like that. She means she wants the best out of everything. And she wants us to do well. And she knows that I'm ambitious and I want to do well. But she wasn't with me for the money. In fact, the money turned her off. She thought it meant she was going to lose some power because I had money.

And I wasn't rich. I mean, I was doing all right, but I wasn't, you know, I wasn't super rich. And so I'm just like, yeah, we'll figure it out later. That's the problem with the pre-nup, okay? You either get an agreement or you leave it where there's no agreement. You understand? So when you don't have a pre-nup, the beautiful thing about a pre-nup is you now agree it's not about money. And as time goes on later, is people have problems and difficulties, there's this thing

hanging over, you're like, shit, we're going to have to figure out whether this is about money or not. And now we've got to negotiate something. This should have already been negotiated. I love how, like, transparent you are with these things. Me too. Or at least, like, the fact that you have unique opinions outside of the Overton window that you've just came to on your own, maybe with some exposure to different information and stuff, but you just have your own very unique. What is Overton? What is that term? Like an Overton window? Yeah, what does that mean? It's a term for the stuff that that's within the Overton window is the same. It's the stuff that's more socially acceptable opinions to hold.

Oh, got it. Think of group thing. Got it. Most people have these views. Well, it's not that. It's what is socially or acceptable or not socially acceptable opinions or beliefs to have. Uh-huh.

So it's not even group think. It's just what is okay. Yeah. Yeah. So like you have opinions that are outside of the Overton windows, what I would say. And you just are totally like, and it's in your own unique way. And they seem to serve you pretty well. Yeah.

I'm not saying I'm right about anything. I'm right for me up to this point and the point where I'm like, okay, that wasn't right anymore. Like, I used to buy value ad real estate. We don't buy that anymore. You know, it's not what I want, right? It's not the asset class I want, but it doesn't, it was, you know, I bought one unit to start with. I wouldn't do that again. It was stupid.

It was ridiculous. It's not necessary. I bought a single family home, but I was like, people like, oh, he didn't take his own advice. I was rich. Like, it was stupid. I'm telling you. stupid, you know? See, this is the problem with the watch and the in the rolls, the colonnance. I got rid of all those cars. I regret every $400,000 car I bought because now my wife loved

the cars. She loved those, okay? My partner Brandon Dawson and Natalie, they love that shit. I don't like it. I don't like the way I feel when I roll up. So I don't know if it's a shame thing or lack of self-worth or I don't like the message it sends to the marketplace. Like, I forgot I had this watch on until you brought it up. And now I'm like, oh, the audience needs to watch. Some young guy out there is going to be like, I got to give me a Richard. You know, no, you don't, dude. Don't get a Richard.

No good of Raleigh. You don't need either one. I mean, they're meaningless. But, you know what I'm saying? Like, sometimes I feel like it sets a long example. But do you feel like people need to go through that to learn that lesson and buy the things and get the houses and the cars and the watches? No.

You don't have to. I mean, you have to if you're an idiot. But if you're a wise person, you would learn by somebody else's mistakes. Anybody can learn from their own mistakes. Like all these people say, I learn more from my losses. You should learn from somebody else's losses.

Not from your own. You know, a wise person would learn. You went down this path. He went down that path. His path didn't work. Yours did. I should follow you, not him. But people don't do that.

I've got to do it my own way. And they go off on a third fucking... So what things can you buy them that have the most value that you think spend money in these ways, this is worth it. On your health, I mean. Yeah. Any investment in yourself is a good investment.

Church time, community time. Like the five years I got out of a treatment center for drug addiction, I spent every single day. I don't think I missed today for five years, helping other people get off drugs. That time will always come back to me. Always. because I can tap into that anytime I want to know.

I can help people, real people, like people that are hurting. So anything, any events, the seminars, going to podcasts watching, I probably do, I'll watch every all-in podcasts. Those are great. They're interviewing people that none of us have access to. That is so deflationary that I get to listen to the giants of the planet. As many times I want, by the way, because I could listen to it one time, second time, a third time, a fourth time, I'm going to pick up so much stuff.

Like, I'll do one of those every day while I'm working out. And it starts turning shit on. You know, I start, like, I start becoming this, I feel bigger after I listen to them. Like, fuck, look what these guys are doing, man. And they're talking about shit, I don't even know. Like, I have to look words up and tokenization and the blockchain and, you know, AI generation and, like, I don't even know what they're talking about. Humanoids.

Like, yeah, I said, what is the humanoid? I was telling you watch Chris Camilla's podcast. Yeah. She was saying the same stuff as Chris Camillo, but humanoid robots. I think everybody has a robot. You know, the Tesla proves that to me.

So people are worried about it replacing plumbers. I'm like, it's not replacing plumbers for 20 or 30 years, if ever. But Elon, I don't think it's three years. He's going to give me a robot. I'm going to overpay for it. But I'm going to have a security guard at my house. My wife loves having us. We had full-time security for years when we were doing our live events.

And we had reason to have them. I will have a, I don't know if it's humanoid, but there will be a robot providing security at my house. 24-7, 365, and probably going to be able to do some other chores. You know, that's a no-brainer. Everybody could have them. Armed security. Yeah, I think it's going to come to that.

That's a no-brainer. What if your daughter wanted to marry a robot? Dude, that's wild. Would you be okay with that? No. What if he was a good guy? I don't... No.

Can't do a robot, dude. Can't do a robot. I just think eventually the robots are going to get so good. They're going to be indistinguishable from people, and they will have whatever personality matches what you are looking for in a partner. Yeah, that's crazy. That's crazy. You got too much free time. This is, as Gary Vee believes that people are going to have relationships with robots and AI.

It's only a matter of time. They're going to be marrying robots. Yeah. So you wouldn't improve of that. No. Okay. No. Because, you know, the spiritual, I mean, is the robot spiritual? I don't know. It doesn't seem like it.

All I got to say is thank you so much for your openness. No, yeah. You got it. You got it. Tune in to the 13th. It's a local thing that's going to happen here in Las Vegas. on the 13th. It'll be announced on 13th to 14. Deal. I'm looking forward to it.

So that's the secret thing. And it'll kind of surprise you what it is. It's out of the box of anything we talked about. Well, this was a blast. Thank you so much for letting us know that you're going to be in town. And 100% we'll revisit this in a year or two. We'll do another episode three. Guys, let us know what you thought of the episode.

Thank you so much for tuning into the podcast. Yeah. Oh, also, I just want to say big thank you to the members. We're now posting membership videos for you guys. We're taking phone calls from members. So if you want to call in, they could call in. We're going to answer their questions. We're getting really interesting questions. One guy is dating two girls and has to figure out which one he wants to date exclusively.

Just had a robot. I had a robot to figure it out. A third. So with that said, make sure to join. I really appreciate it. We'll link to your information down below. Thank you for your openness, transparency, everything. Thank you.

Also, guys, you can listen to us on audio only. We're on everything from Apple Podcast. Spotify. You name it. We're on it. Check it out. The link is down below in the description as well. Thank you guys so much for watching. We really hope you enjoyed the episode. And we have some phenomenal news as a cherry on top. We have a banger episode coming out this next Sunday. Even better, but that episode is ready to watch right now, early access with no ads, no cuts for channel members. So feel free to join. And you'll be able to watch the episode right now. Here's a quick sneak peek.

So what was the final amount that you won in Beast Games to? $5,106,000. It was one of the hardest things I've ever done. What would you criticize about these games? The truth is, what I won won won won't end up in my pocket.