{"id":8413,"date":"2022-06-19T13:23:14","date_gmt":"2022-06-19T18:23:14","guid":{"rendered":"http:\/\/blog.jlbn.net\/?p=8413"},"modified":"2022-06-19T14:38:59","modified_gmt":"2022-06-19T19:38:59","slug":"6-secrets-to-becoming-a-real-estate-millionaire-according-to-grant-cardone","status":"publish","type":"post","link":"http:\/\/blog.jlbn.net\/?p=8413","title":{"rendered":"6 Secrets To Becoming A Real Estate Millionaire, According To Grant Cardone"},"content":{"rendered":"\n

I recently had the opportunity to talk shop with real estate mogul Grant Cardone<\/strong> and couldn\u2019t pass up the opportunity to find out his top secrets to success in real estate investing.<\/p>\n\n\n\n

About Grant Cardone:<\/strong>\u00a0Cardone is the founder and CEO of the private real estate investment firm\u00a0Cardone Capital<\/strong>. He\u2019s also a bestselling author, public speaker, sales coach and star on season two of “Undercover Billionaire.”<\/p>\n\n\n\n

While Cardone built his fame through his bestselling business books and sales courses, he created most of his wealth through real estate investing.<\/a> Below are his six secrets to becoming a real estate millionaire.<\/p>\n\n\n\n

1. The deal is more important than anything.<\/strong> Most people chase the wrong thing first. First is the deal, then debt and then equity or cash. Find the right deal and the debt and equity will always follow. Investors and lenders will always line up for great real estate.<\/p>\n\n\n\n

2. Never compromise location.<\/strong>\u00a0I would rather pay extra for a great location over a great building. You can always fix the property, but you can never change the location.<\/p>\n\n\n\n

3. The number of units is the most important number in real estate.<\/strong> Most people start too small. While it may be easier to buy one or two units, it\u2019s harder to make money on smaller deals. 32 units is easier to manage, and make money on, than four units. Most people don\u2019t know this until they\u2019ve been worn down by a bunch of small deals.<\/p>\n\n\n\n

My first multifamily deal was 48 units. I put together the down payment from friends and family and I made almost $5 million.<\/p>\n\n\n\n

4. Look for properties where rents are below market and can be raised $200<\/strong>. In every market across America, you can find properties where the rents are below market. This is most often an owner who has been invested for a long time. They may be scared to raise rents or don\u2019t need to because their cost basis doesn\u2019t require it. Increase the rents and you immediately increase the value.<\/p>\n\n\n\n

5. If it doesn’t have cash flow, say no.<\/strong> Cash flow is the holy grail of real estate investing. Positive cash flow can get you through down markets. And it\u2019s just a matter of time before rents go up. As rents rise, so does cash flow. The more cash flow there is, the more the next buyer can pay for your property.<\/p>\n\n\n\n

6. Lastly, know your market cold<\/strong>. Confidence is the most important quality of a great investor. Without total confidence, you won\u2019t pull the trigger. By knowing your market, local economy, jobs, rents, occupancy, expenses, tenants and income levels, you gain the confidence you need to be decisive.<\/p>\n\n\n\n

Cardone\u2019s Final Word on Real Estate Investing:<\/strong>\u00a0I have been investing in real estate for 30 years and have never lost money on a deal, and I\u2019ve made a lot. I started with $3,000 and today have 10,000 units that have average rents of $1,850 a month. You do the math.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

I recently had the opportunity to talk shop with real estate mogul Grant Cardone and couldn\u2019t pass up the opportunity to find<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[254,3421],"tags":[888,3432],"_links":{"self":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts\/8413"}],"collection":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8413"}],"version-history":[{"count":1,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts\/8413\/revisions"}],"predecessor-version":[{"id":8414,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts\/8413\/revisions\/8414"}],"wp:attachment":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8413"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}