Hey, welcome, everybody. Grant Cardone here. Hope you're doing well.

And tonight I am going to be doing an investor call to zoom call that we do every month with our investors so they can see my face.

And we go over our investments at Cardone Capital, I thought I would open this up to.

To you guys on Twitter spaces, I don't know that anybody's ever done a public reporting.

On an open platform.

So that'll be cool and I appreciate everybody coming in here. I got, I'm waiting for my guy Ryan to come in because they're going to start that zoom call at 8:00 PM, so the investors of which we have about 11,000 investors.

I don't know how many will come in tonight.

I've been. I've been sending the money every month. So like my sister said to me tonight, she's like you sent me money. I don't think I need to be on that call. I said, alright, whatever you say. So I've been sending her money for seven years.

So what I'll do is once I get started with the call.

Yeah.

I'll just keep you guys open and then when I'm done with the call with the investors, if you guys have any questions, I'll come back and answer your questions as well.

The goal would be to get the the people in Twitter spaces more comfortable with what I'm doing.

If you want to register at the portal to see our deals or to for us to keep, you know.

To e-mail you about deals we're doing, go to cardonecapital.com, cardonecapital.com. There's also for people that have over 100 grand to invest.

We've created a distressed fund that we're already almost 50%, I think Ron, right?

50% reopened it December the 15th and we're already 50% subscribed to $150 million.

Umm.

I'm going to also put a number up here, $100,000 investors text.

A number? Who's that? Who's got the open mic?

Is that Ron?

Yeah, that that was me, Grant. I'm gonna, I'm on.

Yeah, good. Hey, Ron, how you doing?

Hey grant, great to see you.

Come on, man.

OK, cool. Yeah, it's all good.

Yeah. Hey, grant. I'm gonna jump on this call. I'm gonna pass this over to Patrick. I'm. I'm here. Yeah. Alright. Awesome. I'll see. I'll see on the other side. I'm here.

Select.

So again we do this call every.

Every month I do it on the 5th, just after the 15th, after we make our distribution. So if our cash distributions go up or down, we have something to talk to the investors about. We answer their questions, they can ask me anything they want, from what happens if you die to what's going on with interest rates to how is each property doing. They all have access to a portal that it's a private portal, that they can see, where their money sits, what their distributions have been, both.

You know, this month and and over the life of their investment.

And and we are, you know, we're an open door. Hey, Nelson, I see Nelson in the room.

I appreciate you being here, Nelson. Let me invite Nelson up to speak. Invite to speak.

Let's see. Rat. Rat. You can help me too. Rett. Invite to speak.

So look, I gotta go live right now, so real quick, if you appreciate everybody being here.

David, let me invite David as a speaker. Let me invite Kevin Ammons, the speaker. I'm just going to take the top people on here.

Invite the speaker. If you're an investor with me, you should be on the same call. Not here.

I heard somebody ask Elon to say Elon, once you do your Tesla meeting here, I'm like, you know, that's a great idea. I'm gonna do it right here.

And there also are some disclosures we'll do before this.

I don't. I don't know if anybody's ever done this on Twitter spaces before, David, you think?

I don't think so. I think this is the first time.

Let's go. If you're an avatar, I'm probably not going to invite you up. So if you want to change to a photo because you want to come up, that that would be the thing to do. I don't trust 88 board apes, sorry. Or Santa clauses.

I like to see people's faces. They like to see mine. That's where I'm gonna go. Greg, you need to clean that picture up. Greg, you look like you're having a bad. You look like you're in a psychedelic experience right there.

I think it's fuzzy. Wuzzy was a bear.

I would not want my distributions to look that fuzzy.

Alright guys, I'm gonna, I'm gonna put on my serious CEO hat here, here, now and again. I appreciate you all being here. When when I get done with the zoom call, I'll come back and answer your questions. If you guys can retweet the room or if you can just put your questions in the comments. I'll see them all and I'll answer every single one of them. When you put a question in the comment, I'll also follow you. So if you please, just throw your questions in the comments bottom right hand corner.

Umm.

I will. I will follow you and I will answer your questions.

OK and let me go log into this call.

It's my audio. All right, David.

Yeah, sounds good.

Let me ask, let me, let me tell you, tell me if it got any better right now. Did it get any better when I did this?

Sounds like you got a little farther away from it.

How about right now?

That sounds better.

OK, it did it sound better than before. I was just on the phone.

No, this sounds perfect.

OK.

Morning. Progress, your first thing this morning and we're looking at deals. So we want to share with you guys what we're doing. Thank you guys for joining and can you guys hear that alright?

You could turn it up. If you can turn it up a little bit more, that'd be great.

That's good.

OK. Great seeing you, Jeffrey. Thank you for tuning in gender. I see you, Bruce. Give me a thumbs up. I see you up there. Really appreciate you joining us. There's a lot of familiar faces. I know we have a lot of things to cover tonight.

Let's see here. Let me do this view on trace.

Jim, great seeing you. Give me a thumbs up, Jim Thomas, I see you over there.

Basically, basically they're just checking in with Doctor Chuck. They're checking in with a bunch of our investors. They could see their faces that we do this again every month. It's a private call.

Umm.

No, I'll just give you guys behind the scenes on this is a private call. I mean it's not a private call. It's obviously a public call right now, but it is.

My property.

So.

Go, go ahead, Ryan, keep going. So for any of you here that you know you're interested in clickbaiting me or you you want to go record this on your YouTube channel, this is private property. It would be a violation of my property for you to use any of the comments information. This is the the numbers I'll be giving you are unaudited. So they are not yet, you know, down to the penny.

We just had our distribution on the 15th.

That was on Friday. I've been an event all for three days. Today's Monday and I'm doing a distribution call with our investors. So again, this is private property, not to be reduplicated, recorded. Don't do something stupid with it if you want me on your podcast.

About my real estate if you want to know what we actually do here, I'm happy to give you guys. You want to. You want to interview me on a podcast? I'm happy to do that.

There's there's a handful of guys out there that want to talk about Cardone Capital, but they don't have me on the show to talk about Cardone Capital. So tonight I'm going to give you what we've done this year.

And let me catch you up with the team, cause they're getting ready to go now.

Yeah, my name is Ryan Seko. I've been with Grant for 9 years now. I am the EVP of Cardone capital. When I say nine years, I've been with every day for the last nine years. And so it's really been not only a great experience, but also it's been a lot of fun. You know, when you have a leader like Grant who really understands real estate, I think it's really important. Even if his last three days, you know, it's cool to see everybody's minds blown about, you know, how much Grant knows about real es

Performing has been a blast for me. We also have Susan Cheman on the call. She is the CFO. She's been with us now for almost six years, but she used the Chief Financial Officer. We also have Dan Bell. Dan Bell has been with us for over a year now. He is the CEO, Chief Operating Officer, next in line, actually next to me. I think he's next to me on my screen. Anyways, lingerie Fishburne, he is the lead investor relations. Awesome guy. He, he he's my right hand, you know, he's been here for how lo

About to hit my four year Mark and I'll be going on five years. So four years going on five time really flies. But he's amazing. He's going to help us tonight. Run this call again. His name is Andrew Fishburn. Got Patrick both the petty who is also our top guy as far as investor Relations, I've got Jake Goldstein. Pat, give us a thumbs up so everybody knows who you are.

I've got Jake Kelsey, he is a industrial relations and also Melissa Harless is investor relations. They they run the IRA platform and so we're going to be talking about how you can invest, you got the cash option, you also have the IRA option. And so I'm going to direct you guys whatever you guys need help with. I've got team members for, for for all of us and then who am I missing? I've got us CJ Myron here, he is the lead asset manager. We have four asset managers who help us.

With the portfolio, CJ Myers on the call, Peter Ramos is on the call and then also Michael is on the call. I've also got Christian, who was one of our lead acquisition specialist. He's on the call tonight. So you guys can see it's 8:00 PM Eastern Time. The whole team is led by our Fearless leader, grant Cardone. We're all here. We're still in the office. We want to share our notes with you. We want to share out the portfolio is the one that's good for the intro. Andres, do you want to jump into

Of course. Let me get it done, Grant. Yeah, thumbs up, bro.

All right, guys. So as always, once again as Ryan said, I'm Andreas Fishburne. I helped lead the industrial relations team here. So look the the presentation may contain assumptions and involve risks that could cause actual results to differ and that's thing involves risk and may result in partial or total loss. Please consult with your tax, legal or financial advisor. And also very important, this is a private call for investors of distributing this information on social media as a violation of

Policy, so don't distribute it in any ways.

And other than that.

Ryan, you want to go ahead and take it back or GC, we going to you? Yeah, let's go. Yeah, yeah, I'm here. I am here.

I am here. I'm feeling a little drained today, but I'll try to do my best.

To to go over tonight. So look, I appreciate everybody being here. It looks like we have.

824.

People have logged into the zoom call and I told Ryan today, I said we have 11,000 investors. And I said Brian, I guarantee that that the people are not going to show up because we doubled, but we bonus their distribution this month. You know nobody worries about anything when they get money. It's a funny thing. So one other funny story, we got a big team over here at Cardone Capital and.

To take care of people, right? So we take people with non accredited, non accredited people that make less than 200 grand a year or have a less than $1,000,000 net worth invest with us and also accredited people that had put in 10s of millions of dollars investing with me. Everybody gets treated the same. There's one tiny little difference between the accredited and accredited and non accredited. Happy to answer that question, but everything else is virtually the same. And I did that because I w

You know, $80,000 a year or you're making $800,000 a year. You have a chance to invest in assets that.

Propel you toward wealth. Assets are the only way to actually create wealth. And unfortunately in this country, for the last 100 years at least, that I know of, at least since I've been alive, all the wealthy assets are being collected by institutions, not even wealthy people. It's a misnomer to say, oh, wealthy people have the great assets. That's actually not true. The machines.

The the monster institutions, the life insurance companies and and annuities and pension funds and hedge funds, they they they collect everything. These big monster mutual funds.

And the endowments, the college endowments, the Harvard $58 billion endowments that these are this is who ends up with the great assets in America. You you are lucky to end up with a piece of paper.

From an endowment which is called a Reed or stock, something you can trade in and out of. We didn't do that at Cardone Capital. We created this to give you access to real assets, real estate that cash flows that has and provides depreciation to both our accredited and our non accredited investors.

It is a 10 year fund. All our funds are in 10 years. We have a discretion to go another 10 if I need to because I don't want to lose money. We don't do redemptions. Just want to be clear with everybody. This is not something you come in and out of easily. This is an illiquid asset. I want it to be illiquid. Illiquid for me is good. Wall Street has told you that liquidity is good for you. It's actually not good for you.

In fact, we're gonna find this the, the, the liquid and the redemptions and the preferred returns that many of these funds offer. And they say that this is good for you. You're going to find out in the next 18 months. It was the worst thing that could ever offer you.

The other thing we don't do is we don't do preferred returns. We did them for a while and we don't do them anymore because we want to buy great assets and wait for them to be priced and valued according to their rents, OK. Everything that we buy has rental income, cash flow positive properties.

So that being said, I just want to go over this year again.

Andre said to you, this is private property of Cardone Capital Grant, Cardone Grant, Cardone companies. It's not to be used for reduplication. None of it is. If you use it, you're breaking the law. This is done so that our investors get to see me and get to ask me questions. So I'm just going to go through a quick one page summary of what happened this year, 2022, we have 38 properties worth some $4 billion, four plus billion dollars could be 4.4 billion could be 4 point.

Eight could be 3.9. Who? Who knows. It's billions of dollars are real estate, none of which is for sale.

We're not selling any of our assets. We have no intention of selling our assets.

People write me every day asking about my assets and I'm like, unless you did something stupid.

Nothing I have is for sale. God told me that day everything's for sale. OK, well, bro, like trust me. Make me an offer and we'll find out if it's for sale. We are trying to buy assets right now. In fact, just created a new fund, so $150 million distress fund. I believe this is going to be the biggest single opportunity in my lifetime. And yours. We're already 50% subscribed on $150 million distress fund that I announced.

Four days ago.

And I could fund the rest of it right now and be tapped the whole thing out. I just need to assets. So 2022, we're the total of 38 properties. We only bought 2 deals this year. This is our smallest year in four years.

We bought 2 deals worth a combined $215 million, about 1/4 of a billion dollars worth of real estate. That is down from last year. We bought, we bought one. What? What did we buy last year, Ryan? A billion and a half. A billion? Three or something.

Yeah, we bought, we bought 1.3 billion. Yeah. So we also, in addition to that, if you're taking notes, we purchased 215 million, we let go in February of $1.1 billion worth of assets.

It's the first time I've ever let go of deals.

I'm known as the person that wants I put a deal on the contract. We're taking it down, but we walked away from 4 deals.

$1.1 billion and it was the best thing I did for our investors. We already had the money for them. We had the funds form, we had everything, everything was ready to go. We had the debt, we had everything in place, ready to go. And I let the deals go because the the reason I have never lost money in this sector.

Cash flow investing properties is because I am extremely disciplined.

The guy you see on Instagram, you know, riding on the car and doing all the crazy stuff, jumping into stadiums and speaking to 34,000 people and all that, that's not the that's not the investor, that's the promoter.

We distributed this month of this year 50,500,000 or thereabouts. Again, these are not audited numbers, $50 million went to our investors in cash in 12 months.

50,500,000 this year, over the life of the funds we have distributed, we've raised $1 billion. One what? 1 billion? Just a little over 1 billion, Brian. 111 billion. 1 billion. Twenty million. We've raised 1 billion. How much?

20 million one billion, 21 billion, $20 million.

We have distributed $230 million back to our investors out of that billion dollars, that's the 23% distribution on the billion dollars we raised this year. I'm proud to say that we hit 6.02%. If you were in every fund that I've ever done, your overall return on your properties would be 6 point O 2% I.

And invested in every return OK in every deal.

So we had a 6.02%, I think December was like 6.2, but for the year we were about 6.0 two across the portfolio. Some of our deals paid out 2 1/2%, some of our deals paid out. What's the biggest one run? I don't see them right now. Let me see 23 or something.

Yeah, we we had funds that were paying out 11 percent, 13%.

Uh, some of your early on deals, Grant, obviously there are infinite returns. Yeah, yeah. There you go, Andre, just showing them now, so.

For instance, Audubon, A deal I bought in mobile. AL paid 14% this year. I'm just going to give you some random stuff. Wellington paid 9%.

Fun one, paid.

11.1%.

The Woodway deal would weigh in. Morano fund three paid 4.04% plus it paid. It's paying down some debt on one of those deals, I think. Is that right? Right or no? I might be wrong with it yet. Not yet. Not yet.

OK, we I have one deal that there's only five people in it, only paid 2% this year.

But, but the value of that property is about 60 million more than we paid for it. So all these have different stories.

Overall we hit 6%. We have 11,700 investors, 8700 of them are non accredited.

And 3000 or thereabouts are accredited. We have 8700 non accredited and 3000 accredited.

Monthly. Our monthly distribution this month was on track with the rest of the year. We averaged about $4 million per month in distributions.

That's an average.

We distributed, we pop out of this. Go back to you. Yeah, sure. 100% thanks.

We distributed.

We had 13 distributions this year. It's a little trick I do.

I'll make 12 distributions as long as there's positive cash flow. We distribute out of the properties. The properties are distributing our investors the money. You guys understand that. That's not me giving you money.

It's the property you're invested in. It's distributing the excess cash flow to our investors. So every year I've been doing this for 25 years, I distribute.

Do a distribution every month as long as there is a distribution. I can't guarantee a distribution. We did one every single month.

That averaged about $48 million over the year and then.

After our distribution on the 15th, we sent out another $2 million this month.

So it was a $2,000,000 bonus. So in December we didn't send out four million, we sent out six million.

300,000 what? What did y'all tell me it was?

It would it, it it's six million 500, it was 6.5 million, yeah, six million, $487,000 to be exact, OK.

So.

Man, I kind of covered the state of the nation pretty, pretty good. Pretty quick there, didn't I?

Yeah. No, I'm getting better at this, Ryan.

I mean you sound amazing and it also you know, Grant, we built this portal at cardonecapital.com where investors, if they want more data, if they want more information like we, we spend a lot of time putting in reports quarterly and annually on the card on capital.com. So I think it's really important for the investors. We do these once a month, but you also have the, the this portal we built and you guys have a username and a login. You guys have access to even more of the state of that grant i

Resource, yeah, it's already the bonus distributions go not what Grant does is he looks at each fund in each deal at the end of the year. And so some deals that were over performing and had more casual grab it and he'll take it, he'll do a bonus distribution. So not every fund had a bonus distribution. The funds that had extra cash did have that. And for those of you like I seen in these comments here, you know there was, there was a number of those funds that did. So some did, some didn't. If t

Excess money in the deal, we send a distribution. If there's not excess money, we don't send the distribution. Now over time, the 35 years I've been investing in real estate, time matures these deals.

Time is hard on your body. It's hard on your face, it's hard on your butt. But it's great on real estate if you have great real estate because the rents go up when the rents go up, when the rents go up faster than the expenses do, the excess cash flow will start mounting. That's why some of my deals pay 23%, some of them pay 4%. The common theme in all our real estate is this. In most of us, in blue states, we are able to collect our rents, we're able to raise our rents, we we.

Great locations and the people that live there don't mind paying another 25 or 50 or $75.00 a month. We have a total of almost 12,000 units.

A half, $1,000,000 for the real of office and I don't know, some 10,000 or 15,000 square feet of retail.

Uh, we we have a on the 15th of this month we created a distressed fund that I mentioned earlier. It's $150 million distress fund open to accredited and non accredited investors.

We have about $61 million of that, if I'm not wrong, 6165 million, 62 million, something like that. Almost half of that fund is already either funded or.

Is.

We have commitments for OK. Yes the number is is N 71 million in the in the majority is is actually cash and so for people on this call you know Grant is you know we launched the the Fund four days ago he announced it 150 million out of that 150 already 50% has already spoken for in Grant could literally go and take the other 50% if he wanted to.

Yeah, I have a meeting, I have a meeting tomorrow with the group to place all this money. So what does stress mean by the way? Let me, let me just go over that and then I'm going to answer some of these questions in in the chat.

Um, in the zoom. Chat.

What distress means.

OK, the stress doesn't mean the house is torn apart or it's been it's caught on fire. It's in foreclosure.

Distressed funds in the at this level of the game where we're buying mostly you know a properties in.

A+ locations, these are these are institutional quality.

A small deal for me is $60 million.

We've done deals as big as when we closed a billion dollars last December on one in one day, a billion one in one day.

So I don't mind taking a big bite. The big ones are better than the little ones. Big, big deals make big money.

And or or they lose big money, you know, but right now some people are going to lose some big money and I'm going to take advantage of it.

So, so there's some big groups out there that have some issues going on right now and we're going after those issues. We made multiple billion dollar offers already this year.

And we were turned down on him.

And so I didn't buy them.

I mentioned earlier we had a billion dollars worth of assets under contract in February. I'll let them all go.

I told him that there needed to be a price reduction. Here we are a year later and I'm getting meetings with groups I have never, ever, ever gotten meetings with.

And the goal is to buy assets from them. These people are way bigger than me.

I'm a little fish, 12,000, some 12,000 units.

Half a million square feet of office. These guys are giants. They own hundreds of thousands of apartments.

They'll sell 12,000 in one month.

So we will literally this year, this year we, we I believe I'll double the real estate portfolio. We'll go from 11,000 to 25,000 investors will go from 11,000 units to possibly 50,000 under management because we also picked up a management agreement on how many units 14,000 run this year.

All that gives us the scale. OK, so we're raising money right now while the other big giant groups are reporting in the Wall Street Journal, Reuters, Bloomberg, CNBC, they they're they gate, get what's called gated, they're redemptions. And they're no longer raising money. We're raising money, more money today than we ever have.

So if you guys want to get in this distress fund, if you have 100 grand or more, I'm going to give you a special number. Maybe you guys can post it 786, this is for 100 grand and more. All other numbers, I'm going to give you 2 phone numbers tonight.

If you're serious, if you're an accredited investor, you've got 100 grand or more. You're willing to go. You're willing to wait ten years.

And you believe in Grant Cardone and you think I'm gonna do the right thing? If you don't know, don't do it. If you're not here, don't do it. Like there's 8 billion people on this planet. I'm going to raise $10 billion. Somebody's going to give me the money. I have a great story. We buy great assets. I don't let people down.

If you have 100 grand or more, the number 78697729697869772969 you cannot find one person on planet Earth that ever said I cheated them.

Non accredited 3054070276 but you guys are non accredited. I just want to give a little state of the Union to my team. OK, back to me please the non accredited.

OK. If you got 10,000 dollars, 5010 thousand, what is the minimum 10,000 on the non accredited it's 5005?

How's it? OK. So look you guys. I appreciate it. I remember when I only had five grand.

Or 10 grand or 25 grand? OK, my my team does not have the bandwidth to answer every question you have.

I'm trying to be as nice as I can about this.

You got to do your own damn work on this, OK? I created the fund. I spent tremendous amounts of money creating a non accredited fund. It is about 8 times more expensive.

To create a non accredited fund. It's so unfair by the way to the non accredited cost me about 8 times the money.

To raise money to let non accredited people into my fund that it does for the accredited.

And look, there's only 1200 people in this call. So most of the people that are going to call in aren't going to hear this phone call. But you guys have fives and 10s and fifteens and 20s. I'm giving you, I'm literally giving you an opportunity of a lifetime to invest in $100 million deal. You're going to represent a tiny, tiny sliver of that deal. But when that deal, when that deal is bought, right, when it is done right, you get distributions and you're going to get a bang.

Cause I'm gonna win on these deals. I know how to buy real estate. I've been doing it 35 years. I've never lost money. I know cycles. I know how to negotiate. We know how to manage. We've got a great team.

And so all I'm saying to you guys that that that that have the smaller money right now.

My, my, my, my team doesn't have time.

To, to, to to answer every concern you have. You have to get your own confidence up. I don't. We don't want to talk you into it. It's not a sales job they have. They have a.

Help you with the paperwork. That's what their job is. Help you with the paperwork.

And you gotta, you gotta read through the words and the.

The the contract, OK, you guys that are accredited and got 105 hundred a million, I just want to, I just want to give you a piece of data. My twin brother, my sisters.

My nieces sign exactly the same paperwork you do my wife.

Is invested with her money in our funds and she signs exactly the same paperwork you do, and she gets the same exact distribution that that that you do.

So her sister is a non accredited investor. She signs the same paperwork that all non accredited, so there's no special.

Favoritism. We don't do anything anything different for anyone except for two simple things.

So if anybody says what's the difference between the two?

We do two things different. Non accredited get distributed every quarter. Every three months you get a check and accredited get a check every month.

And the only reason that is by the way we have non accredited investors that have done hundreds of thousands of dollars with us like just because you're operating is non accredited.

I have a friend. His son is non accredited.

His dad gives him the money to put in and that kid's probably got, I don't know, $200,000.

But he's still not accredited. He just gets a distribution every quarter.

The accredited gets a check every month except for one and and it's the the payouts the same for everybody. It's 8020 on the upside. So when we upside means we make money. When we make money or we have cash flow 80% the majority goes to you the investor and 20% goes to the house, I'm the house.

There's one exception of that, anybody that's on this call that writes me a check, one check for 10 million, we go a 90109010 split. So I'm just telling there's probably nobody on this call that's going to give me $1,000,000, a $10 million at one time.

But if you do, I just want everybody to know I actually reward that person with a bigger split on the upside or the victory.

Let's see what have I not covered, Ryan? I want to open up some questions because people are asking about specific deals like Miami River, Miami River did just under.

Let me just give you the number. Miami River did 3.67 in the fun. That's Riverwalk, Sunrise and Miami river.

And no, no, I'm sorry, fund 20 did 1.94%. It's a brand new deal. We've owned that. How long, six months, eight months, nine months, 10 months?

Yeah, we we close the queue one that's right, six months. So that deal is the only 10 months old. It's a brand new property. What are rents doing there because this is the rest of the conversation here.

We we started recently acquired at 2200 in rents. Our new leases are 2728 three thousand. So rents are rents are growing by you know call it 20 plus percent still, yeah so when we bought that deal we bought that deal with adjustable money. We thought the deal would pay 4 to 4 1/2%. We've had interest rates cost us something.

But the rent, but by the way the interest rates went up almost enough to wipe out the 4%, but because of the rent increases, it's actually taking us back in the right direction to 2% positive cash flow and we think.

Rents continue to go up because of the location sick property. I don't know if you could show that one property and Andres phenomenal property, brand new next to the Miami Marlins Stadium on the river. What's our occupancy, Ryan, Ryan, you got the, the back, the back notes on this stuff.

Maybe pull up the exact. Hang on one second and then I'll just keep answering questions here as you looked at up.

OK, here's the guy, Noah says. My first real estate investment was $5000 with Grant. Four years later, I got a $500,000 equity from something and and now he's invested 505.

OK, can you invest your IRA or your 401K about 1/3, maybe 25 to 30% of the yeah, that's a beautiful property, isn't it?

25% some 25 to 30% of all the investment dollars we have per IRA or 401K money.

For anybody here that has IRA 401K money, I strongly suggest.

That you look at moving that into Cardone capital where it will still be a retirement account, it will still be protected from the IRS, you do not violate your IRA or your 401K, just simply has to be self-directed. I think there's a one time administration fee. What's that cost, Ryan?

Uh, it's nominal. It's 250 bucks. Melissa, shake your head. Is that correct? Yes. That's $250. Yeah. You in, Jake, when? When? So if anybody has an IRA, you have questions. The team will literally help you guys figure out what you have because, you know, we have some people who call in the 401K that are no longer active that can now be rolled over into an IRA. And so we hear a lot of this, right. So the number that Andres put in the comments and then also we'll go back to it, the three O 5, four

Reach out to the team member, we'll help you guys with. It's 401K or an IRA, literally. You keep it in its tax friendly state. You roll it over to a custodian, which is the middle person and then they send it to cardo capital. We invest it in a deal and then we send the distributions back to that custodian where where you guys are protected in a grant. The occupancy is 97.6 on that Miami River deal he was looking for the day, it's 97%. The rents have gone from 2200 to 27.

100, we've only been in the property 10 months, so it takes time when a properties was that 400 units there.

A total count on that one is.

Three, 46346. So you know we, we, we we might be moving rents on maybe 30 units, 15 to 30 units every month. So if there's 346 units I need like.

I need somewhere between 10 and 20 months to move the entire rent roll.

To where it's at full market?

Right, because there was a brand new property when we bought it. So it takes a second. That's why somebody's asking, hey, why are some of your deals paying 16%, because I've had them eight years.

OK. Fully mature. Everybody on the property is paying the same rent.

And getting rent increases. You need time. Real estate needs time.

So, so and the time is why and it's why we have a 10 year cycle.

Because rents.

When we bought Miami River and the rents were 2200, I'm like.

We're going to refinance when the rents are 4000. How many of you think the rents will be $4000 in Miami at some point in the future?

Yeah, you guys in Silicon Valley, you know, they could be 9000.

Uh, you guys in Sydney, Australia, they could easily be 7 or $8000. You know that you're in Malibu, they could be $10,000 a month easily.

So you go to New York City, rents could be 16 grand a month.

And no parking.

By the way, everybody from New York is still coming down here.

Love you guys in New York, all you guys in your governors and mayors and in Illinois. And I love those guys. I pray for him every night. I pray for Newsom. I pray for the idiot in New York. I pray for these people. They're unbelievable.

They're the best people in the world.

Love them, keep voting them in, by the way. Keep putting those people in.

A a grant before I open up to Q&A, I know you've been talking a lot about, you know, obviously Fund 22, it's launched and it's the distrust fund. You know, for these bigger portfolios and these assets, you've been talking a lot about these institutions and the redemptions. Can you hit on that really quick? And then we're going to open up to some few questions. So what's the opportunity? So Ron's asking about what's the big shift. I just had 1400 people spend 3 days with me. Some of some of these

I don't know, six months ago, seven months ago.

Very professional real estate people. One has 12,000 units in the room. He spent three days with me, paid to be there. Another guy at 5000 units, he paid to be there. And they're like, bro, your whole language is changed. Everything about what you're teaching today is different. I said yeah, because the marketplace changed.

There is an opportunity happening, unfolding as we speak.

In real estate, that has never happened before in this country before. This is 2008.

On AT100X levels.

This is not strippers and domino pizza guys signing for mortgages.

That's what happened in 2008, OK, it was, it was, it was not actually a housing crisis. There was a mortgage crisis. We gave loans to Valerie and Valerie went out and bought 5 or 6 seven homes, and Valerie didn't even have a job.

And, and she had a, you know, she had a pulse. And she would walk into, she'd walk into the Bank of America and get a loan, and then she'd go get another one and another one and another one. I think that's where DJ Khaled came up with another one, you know, so, so. And people went crazy, right? Well, that that wasn't stupid people doing stupid stuff. That was the banks.

That was banks doing stupid stuff.

Fast forward 12 years later.

We have some of the largest.

Financial institutions in the world.

In the last two years or three years, purchased 10s of thousands of properties. I'm not talking about a $400,000 house now.

I'm talking about 10s of thousands.

Of apartments, let's say the average property I'm talking about 300 unit apartment complex. Let's say let's say the apartment complex has 250 units and they bought 10,000. I know one group that has 10,000 units. If you divide 10,000 by 250 units, average average property will have about 250 units. How many? How many building is that 400 properties?

Angie, the math please.

10,000 units divided by 250.

400.

40.

Is it 40?

They have 40 properties that they put on a just this one group, by the way there there's there's 50 groups. I can give you the names of. I know every one of them.

50 groups did 40 deals. Those 40 deals have adjustable money on them.

OK, we have 38 deals. I own 38 properties. Only five of them have adjustable money. These guys have 40 with adjustable money, where the rates blew from 2 1/2% all the way to 7.

OK, their deals will not cash flow. Their deals will not pay their preferred lender. Their deals will not even cover their debt. These deals will be sold and they will be sold this year for a bargain. They will be bought below replacement cost and and they will be bought cash flow positive. They will be great properties that will be have to move. They'll have to move these off their books. They will be forced to move them off their books. They won't even have a choice. This is creme de la Creme

Institutions. And it's exactly what Cardone Capital does. We buy from institutions and we buy great real estate. The difficulty that I've had over the last three or 4-5 years is that I've had to compete with Blackstone, Goldman, JP Morgan, Prudential, KKR, Courtney, Courtland, Camden.

Harbor. Uh, Avalon, Ryan. I mean, you know, I can just go down a list of 50, right? A hunt.

These are mega. These are multi $100 billion companies. Now, y'all think I've done a whole bunch of stuff. We got $4 billion worth of real estate. These people have 100 billion just in real estate. Then they got 200 billion in tech. Then they got 300 billion over here in international stuff. They'll have 50 or 60 billion. In the movie business, they'll have 800 billion like Black Rock. They have $11 trillion worth of funds.

11 trillion.

Right they they I'm a rounding era. Well these all these big guys, they trade assets between one another. They don't sell them to you or me, they trade them amongst one another and they get fees. You guys tracking this?

Harbor cells to Goldman. Goldman sells to JP JP sells to Prudential. Prudential is funded by the Florida. It even gets bigger than this. Florida pension fund billions, Harvard.

Um, Harvard?

Not, not endowment, endowment. Harvard Endowments, 58 billion. They get $5 billion from Harvard's endowment. And they offer these big giant State Farm, MetLife, New York life. I mean, these mega sovereign wealth funds from Saudi Arabia, these guys have billions and billions and that's what funds this activity. And those big giant whales, these are institutions, not people.

Or calling for redemptions.

So you have all these problems. I want my redemptions. They've already given $2 billion, went back from the state of Florida, Missouri had to, Missouri already got a billion dollars. I think California got like $5 billion already in redemptions. So they're getting redeemed on, they've closed the gate. They can't do any more redemption now. They can't purchase anymore. Now they can't raise money and their deals are upside down because their debt exploded. This is Armageddon, OK? And Grant Cardone

So this is, this is the the unbelievable real estate opportunity for me and my family that I'm gonna take advantage of. It's gonna be phenomenal for our investors.

And uh, you know, I wish I could tell you guys that you could go out and buy these deals. These deals are going to be massively big.

And these guys don't wanna sell one deal, they wanna sell 1015 or 20 at a time. So I'm going to be buying packages of them and and with your help, I can do more deals with you than I can do by myself.

And you can do deals with me that you can't do by yourself. So that's what Cardone capital is for. It just so happens this little, this little moment in the universe is open, this little vortex is opened up. And I hope you guys go for a ride with me on it, because it's going to be awesome.

How long you think this window lasts ramp?

I think it lasts this year and maybe before the next election and it's over.

Yeah. And so when you hit on really quick, so this fund opened up already 50% subscribed and will be over funded on this one like we were the last, on the last acquisition we were actually over by 40 million you so, so while the investors wait, you want to hit on that, you know they get the 3 1/2% or whatever the current interest rate look, you put your money into Cardone Capital, it doesn't really come to Cardone Capital assists in a bank account, OK, we don't touch it. I never touch any of you

This in a Sam Bankman free deal.

OK, there, there. There's no coins here. There's no BTC, there's no blockchain to explain you dude. The money goes into a real into a bank account. It sits there and it pays interest at 3 1/2% a year, more than most of you earn by double.

OK. When your money moves into the real estate because that's where it goes, I never touch it. It then moves into the closing and the real estate deal. For instance, we closed the deal. When did we close the Phoenix deal?

We closed that December 1st week of December. So the the this deal was $75 million. We raised $115 million for a deal that was 75 million and I didn't even get a loan.

I just paid cash for the deal.

That's a gangster move, OK? It's like, OK, I bought it from Goldman Sachs.

They had to sell it. They wanted it off their books. I made him a cash offer and they took it.

And and it's 20 million below what they wanted. It's a huge move.

So the the things gonna cash flow. Uh, when we bought it, it was a 7 1/2 cap.

Last year I was buying stuff for 3 1/2 cap.

It's a 7 1/2 cap. When I bought it, it's 77% occupied. When I bought it the day we closed on it, we already had three leases signed. That will bring it to 95%.

We sign more leases the day I closed than Goldman Sachs did for seven years while they were in it. Why? Because I'm not an institution. I'm not lazy, I don't have analysts. I don't have a bunch of punk kids running around doing nothing. If they don't do anything, we get rid of them and we move, OK? Like, we move and we move fast. So I'm an entrepreneur. I'm a I'm a grinder. I'm not an institution. There's no limo picking me up every morning. I'm not on Wall Street in New York. I'm not hiding beh

Burton.

I don't look at my properties on a spreadsheet. You understand these big institutions have spreadsheets that are that they they could have 50 pages of properties.

Hundreds and hundreds and hundreds and hundreds of properties. They have zero connection to these assets.

So when you're an entrepreneur and you're touching it, you're gonna take better care of your home.

Then somebody else is OK. These are my properties. This is my future. This is your future.

Also, they're trading buddies money. They're not even thinking about Valerie. They're trading each other's money. This is this is a this is, they don't even care about anything. To them, this is just ship the shell game. So when we bought that deal, we bought it for a 7 1/2 cap. We've already funded 3 years of tenant improvements.

OK. And once I improved the value the the the tenants that fill the place up, it'll still be A7 cap even with the future tenant improvements?

And I'll still be less than what Goldman paid for the deal seven years ago. And I forgot to tell you that it's probably the single best location in Scottsdale, AZ.

You flying to Scottsdale airport. In literally 35 seconds you're at the property.

2 minutes later you're at the best shopping. You're at the rodeos, you're tribe of of Scottsdale. You're surrounded by multi $1,000,000 condos and $10 million homes.

So the, the, the distress fund, and I hope you guys take advantage of this. This thing's gonna go very fast. It's going to be very violent, OK? Violent means for me, it's not a bad thing. It's like, it's going to be fast. It's going to be like, hey guys, there's a deal, and then three days later, the deal is going to show up out of nowhere. Boom is going to be gone.

And I'm not saying that to to to rush. You do your due diligence.

Do it on me though, because you're not gonna even know what the property is.

I'm going to know what the property is. It's probably going to be very, very hush, hush.

They don't want to tell anybody what they're doing. They're they're gonna have me sign a confidentiality agreement, say you cannot put this on social media.

I can do. I can promise you this, 100% of your money will go into a property. Not to me. Doesn't go to my team. We pay no fees, no broker fees. If I advertise on the Internet, you don't pay for that.

100% of your money. You give me a million dollars, $1,000,000 is in that asset, not one penny less than that.

OK, Ron, let's answer some of these questions. Thank. Thank. Thank you. Yeah, thanks for sharing all that because I'm seeing a lot of people are asking questions about specific deals. All that is in your portal, guys. I created that portal.

So that if you don't know how to use the portal, call my team tomorrow. They'll walk you through it every single deal.

Is in the portal. The only people that have access to the portal are investors. Obviously, the public doesn't have access to your portal. And they got some hands up too. Maybe we get Daniel, then I get Robert, and then I yeah, yeah.

People, because many people aren't going to say this whole time. So let me go over the numbers really quick. So Andres pull up those numbers once more for people who are interested in what grants doing in the launch of Fund 22, which is the distressed fund.

If you're doing over 100 grand, here's the number. It's 786-977-2969. If it's lower than 100 grand, the number is 305-407-0276. Thank you, Andreas for doing that. And then guys, this calls for investors. So Audrey, let's bring up some investors. Let's start with the first two that Grant mentioned, pull up some more people and go from there. Yes, Sir. You know, I'm streaming this on, on on Twitter spaces.

How many people are alive? I know 300, two, 150 or something never been done before. A private company streaming to the public? They're distributions.

That's I dare any public company to do this.

And that's what we love about you, grant. Yeah, my lawyer is probably over there saying, hey, you didn't ask me if you could do this. That's right. I didn't. Right. So Andres, I think Grace said so Robert, we've got, you know, you're walking back. So Robert, you're 1st and then I'm gonna do Valerie and then do you see any other investors, Andres?

Uh the data likely you're Mr as well yeah we got Dick Colligan if you're an investor we really want these these these front for the investors guys people that put money in the fund. If you if you haven't put money in the fund put your hand down and and and and and and let me let me answer the investors they've given me money they deserve the time.

Is that the Danny Vargo?

Robert, can you hear me? Go ahead, Robert.

We here? Yeah.

I go. I'll just make sure we got the right. Robert. Hey, guy. Hey, uncle Jay. What's up?

Hey ma'am, appreciate you. I'm in. My wife and I are in. Two of your funds already lost, so lost and River Walk.

So on the distressed funds, we're planning on jumping in on that. We just picked up three properties ourselves.

And we're going to try and leverage those. And since I got you, I do want to ask you a question because I did something I thought was good for this since the interest rates were jumping up so high.

So we acquired a property worth about 100 grand. We acquired it, flipped it, leveraged that and picked up a half $1,000,000 property. So I've got 20 grand out of my pocket and I've got $650,000 worth of real estate.

So we just picked up another one. We got it for about $0.50 on the dollar.

We're thinking about turning around and leveraging them and putting those into the distressed fund.

So right now my liability on all three of these properties combined.

Isn't about only owe about 150 grand and I've got about 3/4 of $1,000,000 for the property. But I'm I'm afraid to over leverage right now. Yeah, I would. I wouldn't have fun. Yeah, I would never know over leverage. OK. You never want to lose good real estate. Now the only thing you do want to over leverage is bad real estate or bad business, OK, because it's not against the law to do that in this country. So I never want to lose any of my real estate. It takes me forever to get it. Now you know?

The thing I just suggested was that if it's bad real estate, then overleverage it because you want to let it go, you don't want to keep it. Yeah, well, now keep all these, of course. So you didn't buy it because you want to lose it, right? So don't over leverage it. I would tell everybody that's, you know.

Unless you're planning on filing bankruptcy, don't over ever over leverage. But if you're gonna file bankruptcy, definitely over leverage it.

Because there's no reason to file back so any so anyway that's what I would tell you and and also but I would tell everybody this thinking about doing what you're doing be very careful with this low end stuff that might look like a deal today real estate has a long way to to to to to go right now.

OK. Because when the top of the food chain starts moving stuff and starts operating distress, it will affect every piece of property in America. Nathan Rothschild had this saying, hey, when there's blood in the streets by even when it's your blood, so everybody, all my, my entire portfolio, the last time we were on here we said, hey, our portfolio is worth 5 billion. That portfolio is probably off 7 or 800 million.

I've already made my adjustment.

But I'm not selling it. So it's not real money. It's just that some bullshit valuation. Anyway, yeah, my cash flow is actually improving on my properties, not not just being destroyed. So all I have is cash. That's what I want and that's why somebody said explain to me the 10 years, bro, I want cash flow, OK, I want this is what's going to happen in 2022202023. Rents are going to probably pull down a little bit, 24 they're going to pull, they're going to flat, they're going to be flat and then t

Again.

What's going to happen is home ownership is going to get destroyed for the next 36 months.

Homeownership, mortgages, home values, home values are going to get destroyed. Probably another could be twenty 2530% but it won't matter because that much it could but, but, but, but but the thing that'll stop it from falling like a knife is the rents.

And the rents didn't exist in 2012. If the stripper would have had Airbnb, she'd own seven or eight homes right now.

But he didn't have the rental income back in 2010 and 11 now you have it. So that rental income is going to come in and save all the single family, but it's still going to take a hit because there's going to be drama in the marketplace.

Again, that's why the two deals you're in, bro. That is good. Or real estate, as you can buy one of those pieces of real estate that you're invested in, Las Olas that is worth 1/4 of a billion dollars. When I sell that piece of real estate in 2032, if I ever sell it, it'll be worth 500 million bucks. I'll bet you dinner anywhere in the country I sell that thing for 1/2 a Billy.

And your your money will, your money will be, it'll go up 4X plus your cash flow, plus you were in a perfect asset. Now that other stuff that you're buying ain't gonna make that kind of money no matter what happens.

Yeah.

OK, that's sweet property, dude. Like, come on, sweet. You got a very you got a very restrictive vocabulary. That's how you describe it. I put my fucking neck and feet in the in the Infinity pool on the roof.

Bro, bro, look, if you're not paying rent, just.

That's where you got that from the water taste. Yeah. Yeah. Well, I tell you, sweet, after I stuck my stinking foot in it. Yeah, yeah. Thank you, man. Appreciate you tell your wife hello. All right.

OK. Let's Daniel. Go ahead Daniel. Then I'm going to go to.

Awesome. Can you guys hear me? Yeah, gotcha. Great. Great ride GC. I just want to say I appreciate you guys. I was really, really hoping to get into that promenade. I'm accredited investor but I had just missed the I just missed the cut off. So the question I have is, is do I automate, am I funds automatically just put into fund 22 or is there like some a process that I got to go through for that like how does that work for somebody who just missed?

As long as you wanna roll into the next deal, just tell the team, hey, I wanna be, I wanna be in your. You'll be first in line, right? Because you missed that other one. So what he's talking about is it's first come, first serve, guys. I had a personal friend of mine. Not just a personal friend, but a partner in another business.

And he missed the deal I did last year.

And I said, I don't know to tell you bro. I like you know.

You, you, you, you drag your feet. You didn't do what I told you to do. I already gave the positions to other people, so I can't, I can't call up somebody and say Dick. I'm sorry, bro. I got Brandon. Brandon is my buddy. So it's first come, first serve. So you're sitting there as long. Just tell. Let Andre know. Hey, I want to, I want to. I'm ready to roll and I trust grant and let's go.

And I just want to say, yeah, on the trust, how much you got with me right now, Daniel?

I got 100, my first 100,000. Yeah. How liquid are you?

I mean, like how much liquid do I have? Yeah, yeah, probably about another.

Hundred 150 where? Where's the money sitting?

In cash, yeah. So cash is being destroyed, guys. You're gonna be rewarded a little bit. A little bit by the banks. It's being destroyed.

Now I don't know what I don't know what this, Jeremy, how this. What's the guy's name, pal? I don't know what this pal guys up to, but it ain't good.

It doesn't make any sense. This is what I see happen. COVID happened.

Then are you warn Ukraine? We got tired of both of those conversations by Americans, got very tired of the COVID conversations, so they stopped it.

Once America was fed up left and right, everybody's like, I'm done with this vaccine. I'd rather get sick. I'm done with COVID. I'd rather get sick. I'm done with the mask. I'd rather get sick. Once that was over and I said this would happen, we'll be in a war. We were in a war the next day, as soon as the COVID conversation stop, we were talking about Ukraine, Putin, blah, blah, blah. America really didn't buy the Ukraine war.

Most Americans are against sending money over there. Whether you are or not, it's not the not the issue. So the public didn't. The public has to be for something for for them to continue to do something. So what happened was the war stops the the the war story mongering stopped and boom all of a sudden we got inflation and interest rates. All three of those things have one thing in common. They're invisible to Americans. COVID was invisible. The war is invisible and inflation is invisible.

And I don't know what's going on, but I know this that something funny going on.

And it's not gonna be good for the US dollar.

And and and what residential real estate? I sell it for a living and it's.

It's just that the market has done a complete 180 in the last 8 to 10 months. That's what I mean violent.

Yeah. You had, you had, you had 25 offers. Now you have you don't have an offer for 25 days. Yeah, exactly. Thank you, man. Appreciate you. I won't let you down. I appreciate your trust.

Yeah, appreciate you, grant. Thank you and Daniel so strongly. Now you know that now is the time to buy. So when you get on the phone with Andres just, you know, double and triple all that cash that you have. It's not doing anything. It's going to earn 3 1/2% while you wait for this next opportunity for grants. So you didn't miss anything add to your, your your piece and let's go my goal for my goal, for you, my my initial goal for you and for every $1,000,000.

That's, that's that's mine as well. Go ahead. Actually my that's what I have. Yeah. And I would tell you Daniel, I would put a, I would take whatever money you have 100 if you have $250,000 in cash, I would put all of it in this deal.

Knowing what I know is going to happen on this deal. OK, Valerie, go ahead.

Hi. Hi. Thank you so much. So I have two questions. I I'm, I'm invested in Las Olas and also in the Riverwalk, which I love and I agree with your politics a lot. So my question has to do with your future properties that you want to purchase and how you decide to mortgage them. So obviously the interest rates are really high. So is your point right now is to finance as much as possible with the investors so that you don't have to take?

Financing and then you can you can put put some financing on it at a later date when the rates are lower. So I was on a call with a guy today.

Surprisingly, we're getting phone calls.

Every day.

Hey, I got this deal, blah blah blah. So show it to me. Boom. To show it to me, it was under contract for blah blah blah. The the guy's going to walk away from a $5 million deposit.

That's how bad they don't want to be tied to this deal.

I said, OK, OK, you got my attention. They're like we want to come in at 15% below that number and I and and we're going to get a loan on it. I said how much is it, what, what, what is it $85 million from?

Yeah, the new one, yes, I said. How about I just write a check for him? We just killed this thing.

So I'm. I, I said, how many people are going to offer the right check for this deal right now? Nobody. There's a second deal right here in Miami, just up the street.

That is owned by a group that I've mentioned more than once tonight. They want they they had this property on the market for $108 million and they're probably going to get an offer this week for 90 million bucks.

One check.

I'll buy it, I'll close in seven days and it's over with.

I'm gonna find somebody that takes bites this somebody's gonna bite on what I'm doing. OK, so. So so then what? Then what I'm going to do is I'm going to wait. I'm going to wait for these interest rates up to, I'm going to wait for this thing to fall apart and then I'll go back to the debt market and I'll lock in on some very low interest and then redistribute to our investors. So let's say I'm just gonna pick a number. Let's say I steal a deal for 90 million. I write a check, I'm going to go, l

Making a projection. I don't know that I'm right, but I believe interest rates will be lower 18 months from now than they are today. I think I'm going to be able to lock in money that's 4% or less.

That's what I've been averaging across My Portfolio for the last 12 years, believe it or not.

And when that happens, I would go back to the debt market. I would put a $50 million loan on this deal, redistribute $50 million to our investors. You guys get your your money back in exactly the same proportion that you gave me money and we now own it and our cash flow will actually explode.

So in in the meantime before you get the debt on the property, how do you determine is it like 7525 based on how much, how do you determine what you're giving to your investors based on paying cash you're obviously not going to?

You know, you you're gonna imagine that there's a debt on it. No, no, I won't have a debt on it. If I don't have a debt, I don't. I don't imagine anything. I just, I treat everybody the way it really is.

So really the key for us right now is to invest in properties that you're going to pay cash. No, not necessarily, not necessarily. If I maybe, maybe I'll buy a deal that the guy has 2.8% debt on it.

But but he's got a bunch of equity. And he's got to sell six of those. Look, these guys, these guys are gonna have to sell their good stuff, not their bad stuff. Nobody's going to want their bad stuff. This is monopoly. This is monopoly. Valerie, I'm playing monopoly. And the guy, the guy, the guy, the guy has Park Place, and he has Broadway, and he has the red stuff, and he has the railroads.

And he went to jail.

And he stayed in jail too long. He can't roll out. And he starts going through money and then he's like, bro, I need to sell my stuff.

And, and I'm like, really, when there's only one guy at the table that has any money, he's going to end up owning these properties for a discount so the guy can get out of jail and continue to play the game. Now, I know that analogy seems very simple, but that's actually what is happening right now.

Yeah, yeah, yeah. Well, I'm excited to see what's, what's next on the table. Just one other quick question. Umm, you're coming to pronto.

Somebody told me I am.

OK. OK. I just wanted to make sure because I I'm from Toronto, so I haven't had a chance to to come by to Florida anytime soon. So and you're going to be doing a whole real estate course of sorts. I don't know what I'm doing. They will you know when I get there they'll tell me, hey go do this. So I'll do it. But I think it's February, right when, when is it?

OK. It's pretty cold. OK.

Yeah. OK. Well, thanks a lot and I look forward to seeing you and may. Thank you. Thank you, Valerie. OK. How about one more and then you guys handle the rest, Ryan.

Sounds good get go ahead.

Thank you guys. Thank you grant. I really appreciate you doing this.

Read all your books and then for your funds, I'm swearing the kool-aid baby.

Um, my question for you, I've been in touch with Patrick in your office and.

Talking about the adjustable versus fixed, fixed add on some of the properties, I understand you got some breakage, breakage costs on fixed debt and on the on the floaters that rolls off in about 2 years.

Do you think at that time are you seeing enough interest in the stuff that's floating rate that you would look to make a move on that in about 2 years? I wouldn't sell any of the assets I have in two years.

So if I had to recapitalize the assets, if I had to, I would personally recapitalize the assets I have.

I definitely wouldn't sell anything I have because I think we need more than two years for me to get what I wanted out of these assets.

I never sell in a bad cycle anybody that's selling anything today.

It's basically waving a flag saying I'm in trouble.

There's zero reason for anybody to try to sell anything at this moment.

It only indicates their their distress, their timing, their funds.

There their debt there that they could be going into technical default. I'll I'll get you Danny. They could be going into technical default. Many of these loans will, by the way, there could be 1/2 a trillion dollars, half a trillion that I know of that could go into technical default.

So.

In 2024, do I want to sell any of my assets? Las olas? No chance. Miami river? Not a chance. Weston, not a chance. Like I don't want to sell any of these till like 2032 if I ever sell them.

Really what I want to do is I want to refinance all these properties.

And I want to return the capital to the investors and keep the assets.

So you think for 15th St and Waterworks for instance, you look to refinance when when that comes that looks more attractive. Yeah. And by the way I have three years with two don't have two one year extensions run. You do, you do. So I don't, I don't have any like I don't, I don't have a gun to my head right now.

Indict you know for all the other investors on the call to you know Grant. Grant is a buy hold investor in real estate. You know the the goal is to own real estate in five, 710 years refinance it. You know if it's the first refinance or the 2nd refinance of the third refinance you pull your money out and you keep the assets and you keep them refinance or you keep them cash flowing. You know the, the the ideal scene is not to buy these great quality assets because you know Dick the worst thing in

There, there are 10s out of 10s like everybody that you can't. Those two deals you're in, in the heights you can't build, you can't even build those again.

I don't know what our yeah the the those assets are just the rationale that I that I got was that it was they put they put floating right dead on it because you had a a.

You have less breakage costs in two years and you thought that, yeah, that's right. That's right. We we believe, yeah, that our plan was, our plan was we believe we would be able to refinance those in two or three years.

You you put 10 year debt on these deals. This is why none of the big institutions use 10 year debt because they they have a three to five year fund cycle. They want to be out in three years because they want to get their fees.

You know, do I like fees? OK, whatever. But I I'm not in it for the fee. I'm in it. I'm an 8020.

I'm in it for the 20% of the upside. Preferably I'm in it for returning your money and getting 20% of infinite.

20% of infinite you have your money back. I have my money out. Andres has his money out. We don't have any money in it. We still get a dollar.

This is tremendous amounts of wealth that's created like that.

And because I can now take my money without a tax event, go reinvest in new assets, I wanna accumulate assets. I don't want 38 properties, I want 300.

And the same thing for you guys like we we we would literally create a Super fund owned by regular people, but our assets look like a Blackstone, but underneath it is money from regular families. This has never been done before in America, ever.

And first of all, you couldn't do it. You couldn't do it seven or eight years ago, and the technology didn't exist to do it even three or four years ago. And even if you end, and only until somebody could build an audience like I have, even with the laws and the technology, there's only a couple people that could pull this off.

And it can't be the Kardashians because they don't know how to manage. You know they wouldn't know how to manage real estate. They know they just know how to Mark manage a brand.

So you gotta, you gotta, you gotta have an audience. You got to do it by the law. You got to know how to manage cash flow. You can't steal from people. Sam, Sam, Sam. Sam's perfect example. Guys, a genius, and he's going to go spend 30 years in jail.

Because he couldn't manage cash flow, he had zero discipline.

Right.

So.

Love that. Yeah. Hope that helps. Thank you, grant. Thank you. Thank you. Thanks. Thank you, man.

Go ahead, Danny. Go Danny.

Hey, do you see how you doing, man? Good time. No talk. Thank you, Danny.

Merry Christmas. Come on, man. For the Christmas bonus, man marry you like that man. Was that a nice surprise? Yes, Sir. Let me tell you. I opened with. I was going to tell you guys a joke. My sister Pam called me yesterday. My, my distributions are half of what they were the month before. I said. Well, let me check into it. Well, she was she's complaining because she's she thought her bonus.

Was her check, see. That's what family does right there. She didn't see the first. She didn't see the 1st 2.

So.

Man, I I really appreciate. You know I got 1.2 with you and 11.2 what? 1.2 what?

$1,000,000 good for you, man. Congratulations. Yeah, yeah. No, I appreciate you appreciate Ryan. You're an inspiration to everybody on this call, people looking at you, saying shit, if he could come up with 1.2 million, I can.

Hey, come on now. Hey, what hard work? Put it to the side. Make it work. Yeah. Mailbox money, man. That's what you want. Cash flow. That's what people need to hear.

But listen, brother, I got out. I was in a business meeting about.

Two weeks ago, one thing led to another and sat bargue here for a minute. But Long story short.

Damn if you didn't pop in my mind, there's a way to add $50.00 worth of revenue per door.

For what you're doing already. I like that. OK, I do, too. Minimum investment. But it's gonna, you know, we'll we'll need a sidebar, that deal and have a conversation about it. Get it, get it. Get a call with Ryan and CJ.

OK, I'll do that. OK, alright. Because $50.00 * 12,000 units has a lot of damn money.

It is a lot of money. What is that 6 million a month?

It's a no brainer. 72 million seventy conservatives with the $50.00. Yeah, good man, I'll do. I like the way you talk, man. I don't like the way you wear your hat, but I do like the way you talk.

How you want it, man? You wanted down here. You want ten? Hey, you want my 10X hat? I should put that on. That's that's the problem, man. Yours is tailor made mine 10X. OK, I got you. Alright. I think it's just you boys from Louisiana. Yeah. OK, Ryan, handle the rest. All right, Ryan?

Thank you guys on that.

Go ahead, Danny. I think Danny had one other question up. Danny, you got a question?

You cut him off, man.

Who put him on you? Is that you? Andres? That's my fault. No, I just said I appreciate you. Merry Christmas. OK, brother. You guys appreciate you, man. Thank you, Danny. Danny, let's connect on that 50. And then also if you want to throw more in this opportunity fund would love to have fun. I know a lot of people, they they they're they're reaching out directly and asking questions. And you got a lot of hands up, Ryan. So I you mind taking the rest of these questions, Ryan? OK. OK. Beautiful.

Like like guys I'm with right every day like but the amount of energy and effort alright he's doing right now to get these portfolios. There you go guys. So I just finished my, my my call update to our investors. Any questions you guys have in the room appreciate you hanging out listening to the call first time ever done in the history of the world.

You're like the soldier boy of spaces. You do the everything first.

I'm like, well, I, you know, I just, I just, I heard. I I heard.

Somebody asked Elon that once. He's like, would you ever do a Tesla call? And I'm like, you know what, I'm gonna do that.

So if any of you got any questions, I'm happy to answer.

I know there's not a lot of people here, but but there there's enough to matter.

Just raise your hand.

Oh, you you got to add people, man. Who? Who's running this room? Oh, David, you can't, huh?

I cannot, no.

Sorry bro, let me, let me invite you. Let me get rid of Ryan. Ryan can't move around right now. Remove and maybe I can help. Red. Red, are you available to help me?

Yes, Sir, I can bring some people up and down.

OK, yeah, requested. There's a lot of requests, so let me just.

Oops, no, I didn't want to do that. Sorry.

I will say while we're bringing people up, it's it's great to see the transparency shout out to all the haters and the naysayers.

Bro, bro, you know there's some these guys that somebody called me the other day, Dave and said man, I saw this YouTube video. I said was I in it? They said, well a picture of you was.

I said, well, what? What are they talking about? Are they talking about your fun? I'm like, why do you think?

Do you think, do you think I would go on their show?

They didn't ask me to go on the show. If you're not, there's no reason to talk about my fun if I'm not on the show.

Yeah, like, that's interesting to me because people don't think that, you know, you'll show up, but I guarantee you, you know, you'll show up to one of those podcasts. And like, I've never seen you back down. So I think people should do that more often instead of just trying to use clickbait titles. Why don't you? Why do you invite them for a debate or conversation? But they're, they're just.

Yeah, well, they're just, they're, they're trying to run uh, they're trying to run their, they're trying to get you know hits for their, little their.

Ohh yeah.

$0.12 a Google ads OK any questions?

I got Brian. What's up, Brian?

Good.

Yeah.

Hey, how you doing Grant? I had a quick question. I've got a 401K that I had rollover. I guess it's a self-directed IRA now. What's the process look like for for getting that moved over?

How much is sitting in it?

I want to say it's about 290.

And what state is it in?

Texas.

Yeah. So what we do is we get an accommodator basically like Provident is one of them, OK. I don't know. I think they're probably in Texas and they basically do they 250 bucks, you slide it over to a Provident.

You slide it over to them, it's who's sitting with right now.

Oh crap, I don't remember. I don't know their names offhand.

Yeah.

There's no.

Yeah, it does. It doesn't matter. It's sitting, it's sitting in some RAR, a vehicle, right, some retirement vehicle. It gets slid over to a similar vehicle. The IRS has approved all these that there's no, there's no tax implication to you. And now you're self directing into a real estate, into this real estate asset. I will then distribute every month not to you, but back to the fund a back to the IRA. It will start building up cash, cash reserves.

And then when we sell it, I will distribute it to you at that same place and you won't pay taxes there either.

OK, so it all goes, all the distributions and at the very end the final payout all goes back to the IRA?

Yeah, exactly. Everything's got to stay there until how old are you?

51.

Yeah. You know for for the next 10 years or so until you're ready to to to say OK, I wanna start making distributions. I wanna start pulling money out of my IRA. I got, I got a sister my sister she's she was 63. When do you get it 63 or 65.

65 I think.

Yeah, so I convinced her to dump her IRA and and and move it in with me.

That I did. I did basically in six years. I made her more money in six years than she had made in 36 years in her retirement account.

OK, I know I would. What would be a reasonable on let's say 290 after 10 years?

2Q9290 is probably going to earn Ohh a double for sure.

Plus the cash flow.

OK.

So, and I'm being conservative.

OK.

OK, great. Thank you.

OK. Yeah. You're welcome.

Alright, it looks like we got trend with his hand up. What's going on trending?

All right, we'll go. We'll go to Kevin then.

What's up, man?

What's up?

I got a quick question for Grant. When when you do bonus depreciation and cost tech on these properties, how does it affect the the investors?

Yeah, great question and and we should have answered it in this call tonight because it, it is a tremendous impact for the investor, let's say, let's say that you're 20%.

Uh, you're 20% owner in in the deal, you get 20% of the the depreciation. If I do a cost sag, you get 20% of the cost seg.

So.

I can tell you this year, the 50 million that we sent out, no one will pay taxes.

OK, awesome.

And the 50 million I sent out next year, they won't pay taxes either because I know what my I know what my depreciation claims are. We do the K1 and we send it to you.

So let's say you put you. Let's say you.

But then when you went, but then when you send me that, when you send me that K1 that's earned income on my end, then I give it to my CPA, then don't I get taxed?

No, yeah, no, you you got it. You get a K1 that says that. Let's say you gave me $1,000,000 and I sent you 60 grand.

But.

I'm also gonna send you a loss for like 400,000.

Got it.

So you actually have a loss of $340,000. If you're a professional real estate investor, then you can actually push that against your other earned income?

Got it. OK.

Thank you.

So this this year for instance, my income this year will be probably 100, my my net income will probably be.

OK.

I don't know 50 million. I won't pay any taxes this year.

Got it. But how does it affect on the recapture if you decide to sell?

Well, 100%. I mean, sooner or later they're going to get it. You want to pay now, you want to pay later.

Right.

Got it. OK.

Thanks.

Yeah, yeah, my, for my, for me like now let let me just show you another little plate. I'm going to give you the depreciation now and in seven years probably what I'm going to do is I'm going to send you $1,000,000 back and say I'm refinancing a property. Here's your $1,000,000 back. You don't pay taxes on that either. My goal is to never sell these assets.

Got it. OK.

My goal is to for you to get your get your depreciation, get your cash flow, protect your dough, not lose money, and wait for inflation to inflate the asset.

At which time I will re I will recapitalize your original investment which is a non taxable event. The first three events are all non taxable or there are benefit to your taxes.

And then we'll refinance, I'll give you $1,000,000 back non taxable event and then we keep cash flowing.

Got it.

Seven years later, I do it again. Send you another check for $1,000,000. Now you're $1,000,000 positive plus 17 years of cash flow and we got an inflated asset. Like it's inflated because the rents, OK, cash flow starting to explode. Now you've made 2,000,000 and we still own the asset. If you own 20% of the asset when we started, you still own 20% despite the fact that I've sent you back. Who knows how much money at this point.

Got it.

I also have another quick question if you don't mind.

Right.

And, and by the way, none of the other reeths, syndicators or blackstones do that. Once they send you back to 2,000,000, you're out.

Right.

OK. Yeah.

I have a follow up question if you don't mind.

You are buying basically classy properties that that are in great locations that are in great condition. So how are you able to I guess?

Yeah, so.

Flow or or add value to in order to increase rents.

Yeah. So, well, timing, timing and location, right. So I know jobs are coming in, like I don't need to fix the kitchens if I have five jobs coming in for every apartment that was built in the market.

Right.

So for, for, for, for. I got people coming from New York, bro. Like blowing my rents up.

Got it.

And they're they're not. They're not coming here. I got people renting.

Renting units from me so they can live here half the year that they're earning.

They're they're avoiding $3 million in in in taxes New York New Jersey, Illinois, California taxes just simply because they they have a place to to stay 30 weeks of the year. So #1 #2 I don't just buy Class A properties we but we never ever compromise our location so last year I bought.

900 units. There were all kind of B properties.

I've raised those rents from 2200 to $4000 in 10 months.

And that that was on over 800 units?

Got it. OK.

So do do do the math on that. So this was the value add deal. We actually haven't added that much value, but some of them we have.

And and the rents have gone from 2200 to almost 4 Grand 1800 bucks.

Yeah, it's a lot of money.

So it's, yeah, it's a lot of money. So it's either going to be a great location where it was the new building, great location. Typically when somebody builds a a a new building, they're going to have low rents going in because they want to fill their building up. And then it takes me about 18 months to get those rents back to what they should be across the whole property.

That makes sense.

Alrighty. Thank you.

Yeah. Thank you, bro. Appreciate everybody being here. Nelson, how you doing, man?

Matt.

650 I'm doing good, brother. I'm doing good. Let's go.

I saw you this morning at 9:00 o'clock, here it is 9:00 o'clock and I'm still going.

Let's go, baby.

That's a fact.

Still going see David Hill too. Nice to see you, David.

What's up?

Is a come here?

What's going on, David?

Hey, I'm not.

Hey, go go ahead man. What's your, what's your question?

What's up brother? Hey, it's my first time even talking on this app so just appreciate being pulled up.

And just want to say, you know, thank Grant for such a tremendous real estate event.

Just excited to get out there find my find that 32 unit where we're searching already and you know I I finally opened the door this weekend through some money into Cardone Capital. It's about time I did. So I'm just excited to be part of it and you know gonna start adding every month and.

I don't really have a question man just excited I I guess you know to maybe ask grant like you know if if I'm I'm a partner on a 24 unit grant I just sold A2 family pulled out about $1.50 out of it. Where where would you start looking looking for that 32 unit?

Where? Wherever you are. I would start wherever you are right. So.

You know, but, but I mean, yeah, it would start where you live if you live in a good place now if you live in.

If you.

Ohh, I'm. I'm in Massachusetts, so you know we got.

Yeah, probably. I'd probably, I'd probably find somebody. You know, I'd probably find somebody else to invest in this in a friendly or landlord state.

You know this, this, this.

Nobody has to pay for anything anymore. It's going to get carried away in some places.

And it's gonna become problematic for owners.

So.

These these guys are getting these guys are getting these these these.

Politicians are getting the the only thing they can run on is I'm gonna give you free weed or free phone and free rent.

So I'd have I I'd be very careful in some of these more liberal states because you can't collect your rents and and look, I'm not bashing on liberals. I'm just telling you guys like if you can't collect your rents, you can't pay your mortgage.

Yeah, I just circled.

OK, I'm bringing other people up. Guys, if you have a request to speak, just raise your hand.

And I'm happy to give everybody a chance to ask question. And then how long is your 100 grand locked up? You, you need to you need to assume it's gonna be locked up 7 to 10 years.

So I I can't. I can't tell you guys to come be out. Nobody can guarantee you money's gonna be out in three years. They're lying to you if they tell you that.

Yeah.

No, I, I, I, I appreciate it. That was that was an easy, easy answer. I've got a few few people that I'm in a, in a chat with who, who are all asking me that question. So I thought I'd just throw it in there and I appreciate it.

Yeah, beautiful. And let me just tell you guys this, this is this is the problem that's gonna take place with institutions. Institutions have made three mistakes in these last.

This last cycle, they've offered redemptions to their pension funds and the hedge funds. The big giants, the whales. They've offered preferred return.

To their.

Their investor buddies.

And they've offered a three or five year fund cycle. All three of those things are going to kill these guys.

The three to five years is in their face right now. Interest rates exploded on redemptions are being asked for, OK. And the preferred return. Preferred return will be anywhere from 10 to 12%. Interest rates are seven. Let's take the lower numbers, 10% plus the seven, that's 17%. Now they got redemptions, they can't raise money three years, they'll 50% that that the property has to go up 50% in three years just for them to break even.

OK, man, the the problem is the mega, mega proportions. The opportunity is if you have a lot of cash, you know what you're doing and these people know who you are.

And so if I can, if I can pull 304050 properties off the market right now and take advantage of them, solve their problems, all our investors are going to benefit the question. The question is not if I can do it, it's how many times I can do it.

I could literally go from a $4 billion fund to a $20 billion fund in the next two or three years.

Through the cycle.

And then, and then and then, then then we, we as a group of people, it would be, you know, 25,000 or 30,000 investors, regular people. I've never again. I've never taken money from an institution ever.

Which which you know.

These guys all take money from one another. You guys understand that, right?

100%.

Do you find, do you find Grant that you run into issues with investors who you know get in, get into trouble halfway through that time period or or is that something that that doesn't come up as often.

You mean you mean you mean somebody that invested with me?

Yeah, like if you, if you're, if you're in someone's investing for you and then six years down the track there they're they're trying to get their money out, is that something you run into often?

Yeah. Hey, I got a guy right now. Hey, man, I'd like to get, I'd like to get. I'd like to pull out of the deal said. Really. Why? Well, man, I'm worried about that. I'm worried about the, the cycle. So yeah. What? OK, I got it. Yeah. You understand that we have a redemption plan here, right? He's like, yeah, no. What is the redemption plan? We don't have one.

We don't redeem.

If you wanted to be liquid, you need to go to Blackstone. By the way, they don't redeem either. They just told you they would, but they can't because they gave all the money to the Florida State, CalPERS state. They gave it to Harvard because they always give it to their buddies first. They don't give it to the little people.

There is no such thing as the redemption folks. I don't care what they tell you. Ain't never getting a redemption.

So the redemption's not good for you now? If that guy calls and says, yeah, I'll redeem you right now, what am I telling?

I'm giving him his money back because I know there's money to be made.

So now do we have crazy situations?

Hey, Grant, my mom's dying of cancer. I got 50 grand in your fund, man. I need the 50 grand to help her out, dude. I'm gonna write him a check for 50.

But I'm not gonna do it because the guy changed his mind.

Thanks, Tyler medical.

I appreciate it guys. Thank you.

Yeah, thank you. Let let's go to you medical.

Thank you first of all, grant.

Your 10X book.

Turned my entire life around. Thank you.

Oh dude, that's awesome man. That's good to hear.

Well, the story was.

Sounds like you got your $20.00 worth.

I don't even think I paid that much.

Yep.

Umm.

Yeah.

And and I've been following you hardcore ever since. So thank you. And that was about.

2000.

11 so.

I'm interested in real estate. I've been following you on my business side of things.

Invested in some of your stuff, but uh my my my real estate question is I I live in Massachusetts, unfortunately, and.

Gentleman asked a similar question, but I'm actually, I have family and I have potential investment money that I can dip into. I'm not sure, but I think I could if I found the right property and I'd like to. And I have some of my own.

Look for about a 32 unit.

Anywhere from a I hear you say 21 is a minimum, I believe I heard you say in the past for management.

I want to be between Tampa and Clearwater.

Yep. Great, great.

Because I have family out there and and and I want to know what I live in mass. I have some people that I'm friendly with that live in family that live in Tampa and Clearwater. But I'd like to know the best way to go about starting to search. Like, is Loopnet literally the only place that's got to be better off?

No, no, no, no, man, there's a bunch of places you can search. I mean there's a place where you can give them you know probably $25,000 then you can know every property in your market. So that's that's you paying for it. You can go to brokers, you can go to all the major firms. I mean the.

Players over there, or Newmark in Tampa is a Newmark, Cushman and CRE. That's who you really want to deal with. The new marks, probably the beast. So the next problem you're going to have is getting those guys to call you back.

Yep, OK.

And the third problem you're going to have is, you know, if they take your call, it's, you know, it's the deal, it's going to probably be bigger than you can do with those guys. So the Loopnet is a thing. You can always also go to the county record city records and find out who bought a property in the last three years and has an adjustable note on it.

OK, cool. That's a good idea.

Yep.

The easiest thing you could do is find a guy like me that does what I do and put your money with me and keep doing whatever you do every day.

Yep.

I'd like to learn a little bit more about that. I heard you say something about using retirement funds and transferring them, and that will vary your your articulation of that.

It was the first time that I've heard it that was extremely appealing to me. I'd like to learn more about that if that's possible.

Yeah, yeah. Well, fidelity and Merrill Lynch don't tell you about it. Edward Jones, they're going to tell you about it because they want you trading in and out of stocks.

Umm.

In in in all I have to do is commit for a 7 to 10 years or until retirement age or or am I?

Bro, you've already committed. You've already committed. How old are you?

I'm here. I'm 44.

Yeah, well, you got 25 years before you get that money anyway.

Right.

So you.

In in 25 years, is there a written guarantee that I I get whatever my percentage is back at that point if I haven't yet?

You might not even be alive by then.

That's right.

You get so like they no guarantees, man.

OK.

But I'm sure that.

Well, no. What, what what, Gary? What guarantee you want me to give you like?

I can guarantee you something some shit's gonna hit the fan between now and the 25 years, but right now you can't get your retirement money anyway without paying a penalty.

Correct.

To transfer into.

How much? How much money? How much money do you have in a retirement account right now?

How much? How much?

Not much. I I'm not a.

OK. Well, if that's what you, that's what.

My wife probably has 25 grand, I probably have 15 grand, and then I've got about 800 grand.

800.

Uh.

Personal, personal. Not in retirement that I can dip into through home equity through.

Yeah.

Yeah, OK. Well, well, well, yeah. So, you know, I would, I would worry about your 800 more than I'd worry about your 25 or 40, but you're 40 grand if you started with 40 grand and retirement account at the beginning of the year, it's probably, it's probably lost 8000 this year.

Right.

You just don't even look at it anymore.

And you're not getting any passive income, you're not getting any income from it. So you know you could move that 40 grand over to to a Cardone capital. You're going to get a check, you're going to get, you're going to get money every quarter or every month as long as we have the cash flow and the property is going to grow like in 10 years. Why are you looking at real estate in in in Tampa if you don't think it's going to go up in value?

It's all going to go 10 years from now. It's going to have more rent, more income and it's going to be more valuable.

Exactly. Yep, 100%.

I'll bet you you can't tell me the stocks that you're invested in in your retirement account right now, but I bet you can't tell me 5 stocks that that that support your your retirement accounts.

Ohh I I hate it. It's it's not even. I can't even.

Yeah.

So.

Connect with it. The real estate makes sense to me.

Yeah, exactly. So you trade a piece of paper.

A dollar U.S. dollar for more shit paper. That's what you did. That's what Wall Street does.

And I could put, say, 20 grand a year and call it retirement, but go into cotton capital. Is there a way to do that?

What? Yeah, exactly yeah, is is it self-directed?

If well, could I do that? That's my question. Like I can do.

Is is it self? Is it is it a self-directed IRA?

I haven't set it up. I'll set it up.

We, we. This is old jobs. I've had to, you know.

Oh yeah, sure, of course you can. Of course you can. If you can self direct you, you can make your contributions from your retirement account.

Yeah, exactly. I can do that. I own the company, OK.

Yeah, yeah, yeah, perfect. You can you could set it up for your employees to to direct into the into Cardone capital.

OK.

I hope that helps.

Alright, I will. I'll reach out to somebody or I'm so someone can reach out to me to talk about that further. Thank you.

OK.

Awesome.

What's up, BT?

Let's go to Gabe.

Ohh sorry.

Not much, just sitting here listening, listening to you guys.

Um, talk trying to figure out what would be the best way. You know, for someone like me to invest, you know, like, where's my?

You know, kind of entry point because you know, I I mean I have a web development business that does you know fairly well, but it would probably grow a lot faster if I.

You know, invested some of the money I make from that into into real estate.

And you know, but you know, being in Vermont, the real estate market is, you know, pretty hard thing to.

You know get into because but I think there's an opportunity because a lot of the people that already do real estate here you know, they're not they they just don't have mathematical capabilities to to add and stuff like that. And sometimes I wonder how they how they get a hold of so much real estate and you know maybe it is something that I should look into doing you know, for myself instead of having.

You know these other people doing it.

Yeah, well.

You know, little deals are very hard to manage. They're very, very difficult to sell. They're impossible to sell when the economy is bad.

Big deals almost never go back to banks.

Nobody wants to lose them.

People always want to live in them and they almost always make money.