Hey, welcome back to our nightly grant, Cardone.

Twitter spaces. I was just bouncing from rooms to room. Hope you guys are doing great tonight.

Welcome back. Appreciate you joining me. And I want to talk tonight about what's going on with housing and your marketplace. Housing crash. Is it a crisis or an opportunity? I got Nelson a pagas Co hosting with me tonight. I got some familiar names in the room. Shub, we got exchange. Mac, I want to bring you guys up and get to know you and I want to the room to get to know you as well. Kevin G, who is that? Jacob rags. I don't know what you guys do or where you live, but please post in the comme

Bottom right hand corner where do you live?

And what you do, because I really want this room each night to be about.

I want it to be about us connecting to help each other do business. 2023 is going to be a very difficult year.

And the more connected I am with people and the more connected you are with people, the right people, the easier. I don't know that it'll be an easier, but at least it'll get a little easier. So appreciate, everybody. If you want to speak, just hit that request button. Where's the request button at Nelson, you know?

Bottom left corner.

And I got Jerry in the room. Jerry Malcolm's in the room.

Yeah.

Um, bottom where is it? Where? Oh, there's the little request, it says on the last face. It says there's two requests down there. Look, if you got something to say about housing in your market, mortgage rates, interest rates.

Adjustables, long term mortgages, homes like, whatever it is. If you're in real estate, you're a broker, an agent.

I'd like to know in the chat put what city you're in because that matters. Is different in.

You know, Indianapolis, that is than it is in Miami. If you're an investor, please let us know that you're an investor and really love, love, look forward to hooking up the room, getting hooked up with those of you who are serious.

About getting through 2023 without killing yourself.

OK, uh, let's see who, who, who's got something to add to this topic, because I personally think before I turn it over Nelson.

I personally think this is gonna be the biggest opportunity in my lifetime.

I was not able prices were getting to a point where we could not make sense of a deal.

So I buy apartments, we own 12,440 apartments, 1,000,000 square feet of office, and we manage another 13,000 square 13,000 units.

Um, that we were in a place where we couldn't manage anything. I mean, we couldn't manage to buy anything.

And.

Most of my stuff's in the southeast.

About 8000 units in Florida.

So we we we really focused on great locations, all residential type rental properties, mostly in apartment complexes, large 304 hundred unit apartment complexes.

We got 41 different properties, 36 of them have fixed debt on it, five of them have adjustables.

So we don't have the kind of exposure some people have from the last two years of taking on.

Maybe too much adjustables and too much debt. We got about a 52% leverage across the portfolio. So it's almost impossible for me to get in trouble. But there's going to be some other people that do get in trouble. These properties are going to get the the properties that that are going to be the properties that the properties are good property. That's not what's distressed. It's going to be the the owner or the builder.

And the lender that are going to be distressed so.

Request if you want to speak.

And we'll start bringing people up now.

Alright.

100 percent, 100% Aiden, what's going on, my brother?

Thanks for being here right.

Well, I just wanna say, uh, thanks everybody for showing up and coming to talk with us about, you know what, what's going on with the market. I posted up top the Twitter spaces link. If everybody can go hit that retweet button, hit the like, let everybody know that we're here, it's gonna help bring people into the room. And yeah, I'm just excited for today's discussion. You know, I saw David had his hand up.

What was that?

I said thanks for being here bro. I appreciate it.

Ohh man you know, thanks for having me. Um, I I can't wait. This is just the start man. This these these things are gonna be huge. Huge.

Yeah, you know, you know, I'm gonna um in two weekends on the 15th, 16th and 17th we were going to do our growth conference that we do every year. It's an annual growth conference. But I got a real estate conference 1516 seventeenth, not this weekend, but the following and I'm going to stream it on space, on spaces.

8 hours nonstop all the content.

You'll literally be in a room. People are paying $5000 to be at this event. They'll be at least 1500 people here.

And I'm going to stream this thing on spaces. Hopefully the servers can handle it because they're literally could be.

10 million people cycle through over three days, so if any of you want to.

You know, if that's interesting to you, it's a three day real estate summit.

All three days I'm speaking and you can have access on your on your Twitter spaces, so it'll be interesting to see if Twitter can handle it.

Ohh yeah I mean.

100% guys.

What?

Yeah, I see it. I see it there. Yeah.

Yeah, this is gonna be crazy if you go and find that. I think I posted it up top, up top. He posted I, he made a Twitter space that you can set. You can set the reminders if you wanna go tag Elon Musk. He's up right now. He just tweeted so you know, you know, he's on Twitter. If we all go there and tag Elon Musk 151 people, it's gonna be a going to be a real message for him. But yeah. Thanks everybody.

100%.

And Nelson, how you doing bro?

I'm doing fantastic, man. I'm looking forward to the conversation today. You know, another grant Cardone episode on Twitter. It's gonna be live.

So absolutely I'm doing good. How you feeling, Uncle Jay?

Man, I'm good, man, you know, I'm good, you know, I'm just. I wish I could buy more real estate right now, but it's hard with the banks and the sellers. The sellers aren't quite ready.

100% sellers are already at it, you know. And I see we got a couple hands raised. I'm gonna start with David. Mr. David, how are you doing today, man? Let's talk about it.

I'm doing extremely well. Nelson, thank you very much for being a phenomenal host. Aiden as well and Grant Cardone, thank you immensely for hosting these spaces. We need more people of competency representing 1 real estate and just a pure devoted motivation throughout actually achieving something in life and that's really pertinent for for young individuals. One thing I really like to touch on is you posted a tweet just a couple of hours ago, five points as to tips for real estate and I think th

You just dive deeper into that if you don't mind. Never compromise location I think is quite important only invest in casual asset by below replacement cost. Have multiple ways to exit, avoid all deals with three-year exits. And I think that this is a very important tweet that you represented. Please if you don't mind going and explaining a bit what you're thinking about this market.

Yes, so you know the first one. Thank you for reading that. Thank you for following me there because I tried to drop useful content and I just not just.

You know, things for people to buy, but.

I think the education is is the the the front door to the.

To the purchase, right? If somebody's getting educated, then they'll be like, hey, I want more of this, but basically the the, the five premises that I use when investing that I've learned for 30 years of doing this. The location is D like you could never fix it.

You can't pay to fix it like there's nothing you can do to fix a bad location. If it's bad, it's bad.

And if it's great, almost anything can happen and you're still going to be protected. So everybody says location, location, location, but I don't really think anybody understands the simplicity and the importance of it.

I would rather pay a lot more money than compromise the location. And I I see a lot of people in real estate, they go for a lower price and a higher cash flow and surrender the thing that they're going to be stuck with forever. But the second thing is if it doesn't cash flow, I simply don't look at it. I don't build. So you guys don't want to do business with me. You're like, hey, I want do you ever build? No, I don't build. I'm not a builder. I don't want to go broke. Every builder I've ever me

I'm interested in cash flow. I'm interested in great location. I want to buy it, I want to close on it in December, and I want January to be paid on it. Period. End of story.

Uh, I've studied some of the most successful real estate people in the world. I'm talking about guys that have done that, that, that have become multi billionaires in their own right. I'm not talking about a real estate coach on YouTube.

Or some pundit. I'm talking about people that built billions of dollars of their own personal net worth and built out.

Funds that were worth 25 to $50 billion.

Each one of these guys the three that I'm thinking about all invested in cash flow assets. One of them Sam's still refused to buy anything that where he was the first one in it meaning he built it and and and basically had to fill it up. He refused to do that for years and then he believed in that cash flow three buy below replacement cost. If it costs somebody 200 grand to build I want to buy it for below that. I don't. I don't want to pay what what it cost to build it. I want to be below that

Cross the street, start building out, and I'll cover this in two weekends in detail. When somebody comes in and they start building new stuff across the street, let's say they're paying 400 bucks a square foot, but I'm in at 180. That means when they come on and start filling up, because of their point, their price point, they have to start. They have to to to raise rents. They'll literally pull my building up with it. The fourth thing, you got to have more than one way to get out of.

It's a real estate, and this is what this is. What's wrong with flipping or makes wholesaling so difficult? You really only have one exit.

That the action is to sell it to one God, and if the economy's bad, one guy will not be there. So I like a lot of exit. I have about four different ways to exit every property and typically already know who the buyer is when I'm buying it. When I buy it, I want to know who the two or three targets are. If I could have one that I would know, hey, this guy will definitely buy it. There's a trick to doing that. But, and the fifth thing is I don't buy anything that's got a three-year exit. There's a

Including Blackstone, Goldman, JP, all the big funds, the Wall Street funds have three-year exits and all you got to do is go read a headline, go read a equity fund and real estate and you're going to see most of the big players right now. They're reprices, they're down, they're redemptions are stopped, they won't stop redemptions, they're not able to raise money anymore and the biggest of the biggest are going to get in trouble in the cycle. It's all over the place. Have you seen any of the hea

Actually I think there's 23 different funds that have already stopped redemptions. Why? Because they're fund is up, OK. They started the fund in 2019, they said it was a three-year fund. Their investors want their money because the three years is about to be up and they're like no we can't do it right now. So I I don't have a three-year exit, I have a 10 year exit with discretion to go another team 10 because I never want to get beat. I never want to get, I never want to sell in a in in a bad cy

And this is going to be a brutal cycle, but it's going to be a tremendous opportunity if you've been trying to enter the game. Hope that helps.

That that was a tremendously helpful. Thank you for that. And I think that your first point as to like banks being unwilling to lend to individuals of bad credit and very willing to lend to people in your position where we're seeing increase in willingness to lend to higher credited individuals. So for for you in the sense that you've constructed a a substantial portfolio, you have a healthy credit score, it's just opportunity. I think we've already discussed it, it's love making season at least

Yeah. And and one, one of the biggest opportunities is particularly for you guys that don't maybe have the net worth or you don't have the experience or the money or the credit score. What's going to happen in this cycle is some of these big names that I mentioned, they will have to dump properties, they will not have a choice. They're their investors are going to require it and their lenders are going to require it. Now who they're going to dump to.

OK, even if you want to buy it, they don't know you. Even if you're qualified, they don't know you. Most people are not going to be qualified to take on a.

$350 million debt. Most ordinary people can't take that on. So the the group that takes it on has to be able to be at least in a position as strong as the guy selling it. This is why I created Cardone Capital, so every day people could take advantage of Wall Street's mistakes. So we've raised a billion dollars as of this month in cash from everyday ordinary people. I don't get my money from Wall Street.

I buy the assets from Wall Street and I sell to Wall Street, but I get my money from everyday people like Jerry's, an investor, Nelson's and investor. These are ordinary people that would never ever you guys just.

By ourselves, we don't have the funds to do these deals or the experience, but together we have all that.

So this is going to be a tremendous shift for ordinary people and these assets are going to come available next year.

You just got to be in the right place at the right time.

With the right partners, because you can't buy this stuff by yourself.

100% grant 100% let me go to Mac. And by the way, guys, hit that chat feature at the bottom right corner of your screen and make sure you're tweeting this room out. Tweet this space out, get it on the Twitter hallways, and put a hashtag 10X as well. Let me go to.

Yeah, man, if you in the room, there's 200 people in the room. We should be able to get 200 chats, guys. It doesn't cost anything.

It's rock'n'roll, man. That's that's social currency.

You know, nobody's going to think you're my bitch. Nobody's going to think you my bitch because you did it. OK? It's not a fan. Don't feel like you're being a fanboy, OK? We're just trying to get. Look, America is going to need a lot of help next year. Your friends and family, man, they're going to get spanked. I'm telling you, there's going to be people on Wall Street, at Facebook, at banks that lose their jobs. I had a I had a a, not a nephew or brother-in-law. Lost his job 45 years ago. He's

Now put a heavy load on his family.

So make sure you chat in that room. That room is the way for you to tell people to come here. Is that right? Is that how it gets chatted out or?

100 percent, 100%.

Ohh yeah, I see that.

Yeah.

Yes.

Yeah, hitting that retweet button in particular is a great way. So the way Twitter algorithms work is the more, yeah, the more interaction that you get on the post, the more it's posted up top for other people that follow you that don't follow you. And I want to say what you're saying is correct, man. I think, you know, we need to support Elon Musk. We need to support the idea of free speech, and we need to support each other because it's going to be a rough year.

And you know.

Yeah, tell and put in there, put in there. Hey, Elon, bring your rich ass in here.

Let's go guys.

OK.

At Elon Musk, Grant Cardone said. Bring your high flying ass in here.

Let's go. Go ahead and spam that chat right now. Let me go to the next individual show. What's up, my brother? How you doing tonight?

What's up, everyone? My name is Shub. I'm a licensed agent in Georgia, but mostly just an investor for myself.

Let's talk about it.

Yeah. So I focus a lot on wholesaling and buying whole. So uh, I'm very familiar with creative finance. If anyone doesn't know that that's doing like seller finance subject to and kind of doing unorthodox method in this market, it's a perfect opportunity with this market we're going through. I don't, I think it's more of a global issue as well. I think, you know, with China, I think they're also having a housing crisis as well.

I think I don't know what's gonna happen, but I just know something's gonna happen for me, what I'm doing with my whole selling. I know I focus a lot on people at pain who someone that's going to some type of hardship. I don't really see that in Atlanta right now. I see a little bit in Vegas right now, a little bit in Florida, mostly North Miami. Still a strong market from my perspective. Yeah, man. I just think, like this is a unique opportunity. I just don't know what's going to happen.

Absolutely, sure. Absolutely, 100% man. Appreciate you, my brother. Let me go to Mac real quick. Mac, what's going on? Big Mac, man? What's happening?

Yo-yo man, how you doing?

Man, I wanna be like you, man. Look how you flex into that PR, man. Let's go, baby.

Let's talk about it.

Man, I'm trying to get like you. You hanging out with Uncle G, man, come on, you know, let's do it, man. No. Awesome to be here, man. Glad you guys are doing this. Give someone like myself access to individuals like yourself, man. I'm trying to be. I'm. I'm hopefully I'm the dumbest person on this stage. That's who I'm trying to surround myself with. So, GC, man, you have no idea the sort of impact you have on me and my brother. We're up at 5:30 in the gym every morning. We listening to you, man

But question for you for going the housing crisis. Uh my name is magmar sand. I'm from Alabama. Birmingham specifically.

As a cheap that's why I'm here and let's see I'm I'm a licensed realtor as well and I'm trying to figure out the next game for the single family house right. So when you look at the stats open door they sold 22,000 homes in 2021 which was 119% increase from I think it was 2022. Then they bought 13,000 homes in Q1 of this year and now all of a sudden I see two homes in my neighborhood up for sale and I'm.

Is that open house they're selling them?

Yeah, yeah. Open door selling. Yeah.

Yeah, they're, they're, they're, they're done. They're dumping their entire portfolio.

That's what I was gonna ask you. And you have Zillow with the 880 million. Yep.

OK, Redfin, Zillow, open house, all got clocked.

When do you think?

OK. All those, this, this is a perfect example what you're asking. Those guys are perfect targets. So what you guys have to know like buying real estate is not about what or even how. It's not even really about money, it's about who.

Who has the asset? Because if you don't have The Who, you ain't gonna get the what.

And and the the the money follows the real estate. I'm going to do this every night if you guys want to learn your game. And I I wish somebody would give me this game when I was 30 years old.

I'll just give it to you, man. I I can't buy all the real estate in America. So, but I can buy $50 billion of it. And that's what I plan on doing. I'm going to get on the board. Black Rock just said, I'm looking at it right now. Black Rock says get ready for a recession unlike any other.

So you need to know who has to get rid of stuff. OK, I'm elite. I'm gonna read a list. I'm gonna let this thing warm up and you guys stick around because I'm a leader. A reader list of the 25 biggest names in the game. They will all have to dump assets this year.

So that's what you're looking for.

You know, and the more, the better. The more units, the better. Don't you? You know, don't look at one unit right now. Don't look at one single family home. See if you can get 20 of them.

Yeah.

OK.

Yeah.

Yeah.

Yeah.

And that's what I was going to ask you is we're, I'm trying to get to your level you know, but I don't have I guess the network I I'm part of Exp Realty. I'm actually under the latest team funny enough Bobby Jones and all them. So I'm an investor. I got the license specifically to save myself money and to surround myself with people in that industry, right. So I'm trying to figure out how do you go from this 456 houses that we got today. How do you package that up or do you package that up? How

To the 32 units that you preach about.

Yeah, well, you don't want to sell the four or five you have right now. You want to fill them with renters because you can't get the price you want right now. You got.

You don't have any money. The money's not even scared right now. It's frozen.

So there's no reason to put them on the market. Anybody that makes you an offer is going to be a bottom feeder right now.

So now what you do want to do is you want to start, you see, you think, you think that you need money to do these deals. But I know that's not true.

You need deals. Deals always bring money, OK? It's like a hot chick, dude. You're never going to see a hot chick. My wife, bro, my wife was never by herself fucking. Somebody always wanted to be with her. If it wasn't a man, it was a woman. Every somebody wanted to be with her all the time, you know? People wanted to be around beautiful stuff. So.

You know when you have a great piece of real estate in a great area that's going to cash flow that's going to appreciate overtime, that's going to offer investors high net worth in individuals with big tax write offs.

Like I guarantee you, I will payless taxes than any other individual in this room this year.

I don't know how many people are here right now.

Well, we got about 250 people in the room right now.

I would bet you guys $250,000 a 1000 for every person here that I pay less taxes this year.

Then then.

Any single individual in the room.

And the reason I do that is because I bought more real estate than you guys did.

And the real estate allows me write offs. It allows me, you know, massive depreciation.

So my my other businesses, my real estate business.

Will do my net net cash flow. Passive income from my real estate does about a million six a month.

That's me not. I just wake up. I wake up on January 1st. I go to sleep on January 31st. I don't do anything. She's gonna happen no matter what. It's just rental income. It's net, net cash flow. Then my other business. That's before I raised a penny for real estate and support before I put a fee or charge anybody fees for any of the deals we do.

And then there's this other businesses that I own that does, I don't know, we'll make 100 and.

$50 million on the other businesses.

And I'll still won't pay any taxes.

So I'm just telling you, if I ran for for president right now, I mean the whole half of America is going to want to freaking lynch me.

I mean, I pay less taxes than homeless people. So, and I would run on that, by the way, but so. So what I'm telling you is, but you need to, you need to find the deal. I'm looking for a deal. You find a great deal. Anybody here find a great deal, great location, cash flows right away. There's upside. We can do something with it. They're in trouble. I'll buy the deal.

I'll fund the deal, and if I can't fund it, I got buddies that can't.

So focus on the deal, bro. EXP's got 84,000 people. I can raise the money with Exp and Glenn Sanford.

So you just need the right guy to be a voice. But I'm not going to have a voice if you got a 2 unit deal. I'm like 2 units. Come on man, let's let's do something. That's why. That's why you guys always have trouble raising money and getting debt. Also, last thing I'll say. And then we can keep it rolling.

Banks, it's you could have a lower credit score. Nelson, what's a low credit score?

Shit, uh, let's go with 500. Let's go with 500.

OK, yeah, I don't. I don't know credit scores because I I don't. I don't even know if I have a credit score.

When you flex it hard.

No, I mean, I don't. I no. Nobody looks at my credit score. It's a scam. You guys are told to improve your credit score and worry about your credit score, do worry about your assets.

As long as you got assets, nobody gives a shit about your score. Multifamily real estate, 32 units, 16 units. It is easier to get a loan on that with a poor credit score than it is to get a loan on a single family home with a poor credit score.

Because.

No matter what your credit score is on a multifamily deal, 32 units, preferably something even larger than that. They're not looking at your ability to pay for the debt, they're looking at the property's ability to fund the debt.

It just gets it off of you and it gets it onto the property.

You literally are gonna not even be. You're not even going to be responsible for the debt. If the loan goes bad, the property will be so.

Again, I'll do this as much as you guys want to do it.

Do you want to learn the game?

That's what I would do. Want to give a big shout out to my buddy Jerry. Malcolm is in the house by the way. I just saw him rolling around here in the in, in the, in the feed.

100%, Uncle Z, 100%. I see we got Allen Allen, you want to jump on the mic, man? Let's talk about it.

Hey, appreciate it. I just want to piggyback it sounds like we got a couple guys in Atlanta, I'm going to land investor as well and I think I want to piggyback off grants answer which I completely agree with. Grant, Big fan, been following you for years. I have the broke method that I've created. I started with a $99,000 condo, one bedroom and I transitioned that into a bunch of small multi families and then now to a portfolio of 350.

Mostly apartment buildings, $50 million assets under management. So I've made that move from the small residential guy, you know onesies, twosies, FHA loans into you know the commercial real estate deals. So I I sort of coined it the broke method to real estate investing to kind of make that switch broke is a acronym BROKEB The Big Deal Finder. Grant just told you you guys you got to bring in the big deals that's got.

Bunch of meat on the bone where everyone can, you know, get rich, you know, get fed. You gotta have the big deal finders. So look. Look at the big apartment buildings or.

So, so Alan, before you go on with the acronym, are the big deals am I, am I being?

Straight with people when I say bigger deals are easier to get funding for the small deals.

Yeah. The difference is this. When you're getting a small deal, you're getting a residential loan. They look at the borrower, you're appraise, that property is appraised based on comps of other similar residential deals. That's not the commercial approach. If it's 5 units or more, like Grant is telling you 100% the Truth, 5 units or more, they evaluate the deal, not the borrower. Does this deal pay for itself? They pay more attention to the income and the vacancy and the rent rolls?

It's called the T3 or T6 or the T-12. That's the trailing 3 months, six months, 12 months of the rent roll. The income that's coming in your you're buying a business, you're getting a business loan. All they care about is the income and the assets of the business, not so much the borrower. So that is 100%, right?

To.

I'll keep going. Anything else on the broke method or or the big deal? I should say Big Deal Finder.

I mean, tell it, tell us this right? Tell us this right. Why do you think people are so afraid to go big? Why do you think people think the best way to go about it is go small and then grow? What are your thoughts about that?

Well, you, you, you should be my hype man because that's number R the letter RI should say that. That brings me into the second part that you reputational pull people, you know you have to have confidence, you have to have experience. But in the broke method, the R is reputational pull.

No one's gonna invest with you. If you're saying, hey, I've never bought a real estate deal and, you know, I've got something under contract and then you're going out and and and you're trying to shop it around that, that's tough to do it unless you've done some deals before. So all I know is what worked for me. But because I was, I started with a $99,001.00, you know, one bedroom condo and then went to a duplex and then a trip triplex. Over time, everyone in my network, you know, they weren't r

What? What was your first deal, Alan?

Lived in the projects when I bought my first place and what happened was I built up a reputation that ohh, I'm owns the real estate guy in our network and our neighborhood owns the real estate guy. And then so people started bringing me deals and they just got bigger and bigger and and I had the confidence, I started earning the confidence because I didn't have the in.

In Brooklyn, Fort Greene book, Brooklyn. I bought a condo. One bedroom. It was $99,000. I bought it.

How much you got and how much real estate you got now?

I've got 50 million assets under management and then I've got like a $6 million personal portfolio.

Good for you, man.

I appreciate it. I appreciate it.

Thanks for coming here too. I appreciate it. Man. This is a good guy to connect up with guys, so make sure you're following Alan. You can learn a lot from that. This is, you know, this is the easiest game in the world, I'm telling you.

It.

100%.

You guys, I'm looking at your guys. I'm looking at y'all's profiles, man, ain't no chance you guys are gonna be movie stars.

Yeah.

Yeah, great. JC right. So I've heard you say something a lot, right? If you were to go back today and start over, you know, and people usually expect you to say you're going to buy a single family and then yadda yadda yadda, you say F that you jumping straight into the mall ties. I mean you want to talk about that for a second, grant?

Yeah, well, my first deal was $78,000. I put 3 grand down and I financed $75,000 and I had to kind of FIB to the bank about how I was doing it because I wasn't going to live there. But I told him I was.

And then I did another deal. Second deal I did 30 days later, no money down. It was $92,000. I made money on both those deals.

But I realized I couldn't scale what I was doing and I was dependent upon 2 runners.

You know, if either one of them failed me, bro, I was gonna. I was gonna be negative, not positive. So I put my head down, Nelson. I started doing some homework, started studying the biggest guys in the game. Like, I'm going to read a list to you right now. Starwood capital.

OK. Barry sternlicht.

He's the largest multifamily owner in America today, 115,000 units he had 89,012 months ago.

Do you know what that means, Nelson?

Jesus.

Then they added 2820. Sorry, 6026 thousand last year.

One of those deals is on adjustable.

Loans.

Ohh.

Hmm.

Barry's not sleeping good right now, bro.

Hmm.

Now, Berry berries, the publicly traded company, I have a whole list. I got the top 100 owners in the country. What I do is I watch these guys and when I started studying when I was 30 years old, none of these guys were buying single family homes one at a time.

They were. They were buying fucking neighborhoods. And then I figured I would if they because there are no smarter than anybody in this room. Real estate people are definitely not the smartest people.

And but they're they have a lot of common sense. Like if you're if you have more common sense than intelligence, they're completely different things.

You go into these, you go into these FTX rooms and and these 4X rooms and these Bitcoin and crypto rooms. Man, the intelligence is fucking off the rails.

Doesn't mean they got anything.

But they smart, man so.

So what I did was I studied these cat for cats for three years and the next deal I did, to make a Long story short, the third deal that I ever did in my career, I bought 38 units.

Up with 350 grand down, I raised the money for my friends. I got a loan for the rest. I made $5 million on one deal.

That was 33 years old, became a multi. I became a multi millionaire before I became a millionaire.

And it was because I did 32 units the first two deals, maybe money, but they didn't make me. The they didn't make me with the 38 units made me.

So.

Anyway, that's what I would do. I'd skip it, man. I'd skip it. I'd go straight to what in the in. Look a year ago, Nelson, when I told you this, the opportunity did not exist that exist today.

Absolutely.

These groups, I'm. I'm gonna read off a group. I'm gonna read. Starwood has 115,000. They added 30,000 units, 27,000 units last year. Here's another group, and I have all the names. MA, they got 100,000 units, OK, they're out of Tennessee. Margin properties, 94,000 units. I know the guy that runs that deal. He added 4000 units last year that I know of. Avalon Bay, 81,000 units. Greystar, 80,000 units. They added 5000 last year. Equity.

Residential 79,000 units. Do you guys think that these guys like keep the 79,000, they rotate them?

These groups rotate, so every year they have to sell somewhere between 5 and 10% of their portfolio. That means Mark Perrell at equity residential this year will have to sell 8000 of his 80,000 units.

And every one of the guys on this list have the same problem. So guess what?

This list will not be buying each other's products this year.

OK. Because I can go through the news and and I can start telling you every one of these guys has already announced Starwood margin, June properties, Avalon, Graystar equity related, the entire list that I'm talking about Irvine company, they can't buy any real estate right now because they're investors. Wall Street wants their money.

See, their money comes from Wall Street, and Wall Street's getting hammered right now. Stock markets got hammered, hammered. The crypto got hammered, hotels got hammered, offices getting hammered. And now this is going to get hammered.

Grant, if I could jump in, what advice? Like people listening? What would we do with this information? Who do we contact? Where? Who do we network with?

Do do. First of all, where? Where do you live?

I'm in Atlanta.

OK, good. So Atlanta, OK, you, you you should be what part of Atlanta you live in?

In town. Atlanta, Atlanta, Atlanta.

OK, good bro. You start, you start driving the neighborhood. You need to start looking at the names on the properties. Courtland properties, Starwood Hunt Properties, Camden properties. You guys know all these names, these names are in every city. But you see, unfortunately you guys, you've been told to go look for a single family home. So you're not seeing these big companies.

And this is where the blood's going to be this cycle.

This thing going to be the stripper that bought 5 homes back in 2008 with no money. This is going to be big groups that have to sell these assets so look up rather than sideways. So when you're driving around you do you rent or own?

Yeah. Do you?

Me, yeah. This is Alan Corey. I talked to you earlier. I've got a big real estate portfolio now, but yeah, I know.

Yeah, but Alan, so, so, but you know, so, you know, start looking for those big groups, man. You're you're already buying that stuff, start looking for them, make a contact there, you know what's the biggest deal you ever did you've ever done?

17 million, 152 units, Huntsville, AL.

Yeah, yeah. So bro, look, you find a deal that's 100 million, call me.

OK.

You could. Now we've got. Now we've got to find out why they're selling.

If they're if they're selling because, hey, man, this is what you want. Hey, why are you guys selling right now, man? Our funds. Do we got to blow this thing out? OK, good. I got a buyer.

OK.

Now now if we have a seller.

You know what I mean? They gotta be a real seller.

Which means they have to have some pressure on it. There has to be some distress in their system, not the property, but the seller, the fund.

And I love Atlanta. Here's my markets. Any of you in these markets, Nashville. Anything in Tennessee, Alabama, if you're right, taking notes, anything. Florida, Georgia, Savannah, Atlanta. The Carolinas are fucking amazing. Arizona.

Austin, Houston. Dallas.

Not Galveston.

Not San Antonio. Those three I just gave you.

And then?

And then you got a network with people. You're not gonna do that $100 million deal by yourself. You didn't do that $17 million deal by yourself.

No, not at all.

No, you had a bank. You had a bank, and then you got tenants. So none of you guys are going to own 100% of the property, OK? You it's just not how you do this. So if you're one of those people, it's like, I want to own every. I want to own, yeah, I got to be in control of everything there. You ain't in control.

You know, just be have you a great asset.

We invested in it.

And and have a great asset though don't. Don't.

You know.

Buy something unbelievable. Because when this thing's over, the the great shit is going to it's going to rock it, it's going to rock it to the moon. I mean this stuff is going to be so valuable when this.

Um, this recession passes.

Yeah.

Well.

Can we can we dig in what you mean then by great location cause you named some States and I think I know you have your answer but I just want some clarification what makes something great within these states?

Well, great schools, hospitals.

You know, I probably want to stay away from Walmarts and Costcos. I want to be closer to the Starbucks and the Whole Foods and the Trader Joe's. You know, where there's chipotles, where there's discretionary money.

You know, I don't mean a Starbucks in a target. I mean a real Starbucks and maybe have two or three of them around me. The more the better.

You know, so when you find, when you find a, you know A6 block radius and you got two or three Starbucks within six blocks, fuck, you know you got money.

You know, and I need jobs, I need jobs coming in. I need positive migration.

Like you could find 3 Starbucks on the street corner up in New York City, but I don't want to be up there because I can't collect my rents.

So you also need a a a political system around you that's friendly to the owner.

You guys drove by in real estate the way I you'll never vote Democrat again. No offense, but you'll be like shit, I can't even help you. You won't be able to afford to vote Democrat because it's going to change the way you see property.

OK. And the way you see wealth, I mean, you're just going to vote to protect yourself?

What's your name, my brother?

Hey Grant, I got a question for you about to hop on this flight. I wanted to get it out. My name is Accom and nice to meet you, Nelson. Nice to meet you, Grant.

Grant, by the way I second what you're saying 100%, I went from single family homes. First deal I did was 72 units for my partner and we we just been going up from there and what we realized is we need to be at 150 plus that's when the banks give you the most, the best leverage, the best terms and management everything else just plays in your favor.

At that scale.

Did you guys hear me?

Yeah. Thank you, man. Yeah, I can hear you. Just keep talking.

Sorry about the background noise, but my question is this grant where my my team is actively looking for deals in the states that you actually mentioned. But what are your thoughts on deals that are currently being developed by some of these firms? Do you think that's a good play too at this moment in time?

Say that again, I didn't understand the question.

Do you think the deals that are currently being developed like new developments, do you believe that?

Yeah.

Yeah.

There are good deals to go at this moment in time.

They could be, they could be, but but again like I wouldn't, I wouldn't take on the risk of the of the.

Look, we, you know some of these markets are overbuilt, OK, I wouldn't take on as my first deal. I would not take on the.

Liability or the stress of having to take a property from.

0% occupied to 95. I wouldn't do that personally.

You're going to find all you got to do is look across the street and you're going to find one that's 95 or 96 or 97% occupied right now. It's already stabilized. So I buy stabilized stuff now. Would I buy something? Yeah. I mean I've been doing it a little longer, so I could take on a little more risk.

If I could find a builder that's in trouble.

And there's going to be builders that are in trouble. Trust me, guys, there's going to be so much trouble. There's going to be so much trouble, there's going to be hundreds and hundreds and hundreds of billions of dollars made in this cycle.

And it's just going to be the people that are going to get it, are the people that are going to be focused on getting it.

It's going to trade, meaning it's gonna be sold to someone.

And someone's gonna buy it. It's not going to just sit there and be left vacant.

And it's not going to go to foreclosure. So you guys are like, you know, this isn't some foreclosure play and you're going to go to the banks and pick it up. That's not how this game works. This shit never goes back to the bank.

So in the past, literally.

Six years ago, seven years ago. Let's see what 2012, there was a law passed, and that law was then amended a couple of times. It was a JOBS Act, and it allowed you to crowdfund money to raise money from regular people.

And nobody had really made this popular until about three years ago. I started raising money. I started doing a thing called crowdfunding. A lot of people had tried crowdfunding and really didn't do very well with it.

But what I did was I started raising money based on deals that I already had in my pipeline. I'd show somebody, here's the deal, I'm going to buy it with my money. I was literally funding the deal with my money.

And I did that so successfully that I raised a billion dollars in cash and placed everyday ordinary peoples money in a deal without going to lenders, without going to the big institutions. That's really never been done before.

And so I'm in the pipeline of these people. They know me. So if you find one man, let's just look across the street. My my answer to your question is I'd look across the street and don't worry about the build out.

Look, look for the one that's gonna cash flow.

We'll be on the lookout and if we get anything, uh, at 100 million or more, we'll definitely reach out to you. Thank you, grant.

Yeah dude, like 6660 million, fifty million, 80 million hundred 200. Like if you have a relationship, some of you have a relationship with this list.

Some of you might know somebody over it, GUID Greg Bates. It's got 40,000 units.

And maybe not. Maybe you just stumble into a deal and find out somebody's in trouble. But if you're not looking for it, you're not going to stumble into it.

I'm doing.

100% grant. Preciate, you ask him. Let's go to Joshua. Joshua, what's going on, man? I remember you from the other day, grant. That was the really smart guy, the really smart guy the other day.

It sounds it sounds better.

Yeah.

Oh, oh, those guys are always dangerous. And hey, hey, I want to try to get at least 75 people to be able to ask questions or tell us where you're from or if you have a deal. Guys, we want everybody to come up and talk. So please come up and talk. Introduce yourself where you're living. Let people in the in the room know who you are.

Because you're gonna need people to do deals.

All right.

No.

That's like Grant, I had a question for you. Very quick segment again speaking here, have you looked at all outside the United States? Are you solely in the US? The reason I ask is I'm in Canada. I started you know, getting bigger into real estate up here. Curious your thoughts.

Yeah, I know. But bro, I'm. I'm in the best. I'm. I'm in you. You're asking me to leave Disneyland to go to Six Flags, you know?

Yeah, yeah.

I feel that.

100% no, I agree.

I mean, this is the best real estate now in the world, you know? I mean, at least still today.

Definitely.

You know, as long as we continue to bring in 3 million people a year, immigrants, those 3,000,000 immigrants, guys, they don't go buy homes.

When people move from New York to Miami.

They don't buy a house.

There's no houses to buy here, by the way.

When people move from Silicon Valley down to Austin, TX, they can't buy a house right now. You know why? Because the rate 7 1/2%. So they're gonna rent for the next two years. I'm telling you, you guys are getting ready to go into the biggest economic prosperity. It's not going to look like prosperity to most people. Real estate people are going to rich, super rich.

And then just just following up on that grant, like what would be your recommendation or strategies for someone looking to go from let's say 10 or 15 units up to 70 or 100?

Yeah, if I was you, I'd get a green card and and move to America. That's what I would do.

Trust me, I'm thinking about it.

Oh my God.

I'd get away from that God damn Trudeau guy that you're hanging out with every weekend.

Ohh trust me.

You God damn right.

Yes, we freeze bank accounts up here.

You have no idea how much we hate that motherfucker.

Yeah.

Shout out to the Canadians in the building.

But but y'all y'all y'all don't hate him enough to get together and get rid of him.

Ohh.

Yeah, so, so just they're they're what would you recommend to do though to scale from like 1020 units up to like 100 hundred 50?

Start looking at him. Quit looking at 10s and 20s dude. Start looking at 2 hundreds.

You can't get what you don't go go look for.

You know, if you keep settling for seconds and thirds and fourths, that's all you're gonna eat, bro.

Quitting at McDonald's, man.

Hey, I just wanna say, uh, we've got 414 people in here. Um, if we could get everybody to hit that blue button on the bottom right and then scroll up, you'll see a recycle button. Hit that recycle button. We only have 38 retweets in the room. If let's get it up to 102 hundred, let's see, let's 10X this room that.

You know what? Let, let let's do this on top of that, right Aiden?

I think, I think people, I think people are scared to retweet. They they think that something's gonna happen to them if they do it. Maybe they don't even know how to.

You know, I think they should do this right. I think hit that chat button real quick. Hit the quote tweet and actually type a question that you want to ask grant, type a question and type your location and put a hashtag 10X. And I'm going to read those questions to grant on stage. I think that's I think, I think we could definitely do that. So everybody in here that does have a question for grant, but you're not able to make it to the stage for some reason. Like the brother who's at the airport

08 type your question, type your city and put a hashtag 10X. You got to have a hashtag 10X. Alright, thank you very much guys.

I'm gonna give a hug. I'm gonna get, and we're gonna pick one person to give $100 to for the retweet.

Man, let's make it happen.

Let's go.

When we get to 200, I'm gonna pick one person and give I'll give a couple 100 bucks away.

And guys, you gotta have that 10X.

I wanna see. And at Elon too, man. At Elon attack, Elon just bugged the fuck out of him.

This.

Yes, Sir.

Set out to Mr Musk man, but appreciate you sickman. I see we have you know.

He said he's saving free speech, folks. Let him know that we appreciate him, man.

We're trying.

Let's go to Joshua real quick. Joshua, what's going on, man? You trying to blow our heads with some economics today, man, what's happening?

Ohh man, I didn't know I laid it on that fake man. But I'm. I'm in Miami too.

She made you late in our heavy band heavy.

I'm in Miami and Grant, I sent, I sent that $1000 to you a little bit earlier. So you got that, you got that paid on the bed.

Ohh dude people don't know how much money I've made on these audio apps. Just betting people shit.

Especially off Nelson.

Yeah.

Yeah, yeah.

Maybe I could get it back on a side, but with Nelson.

Yeah. Anybody here that's got a bet for me? Just bring me the bed. I'm likely to take it so.

Or just Bette Nelson, because he'll probably lose.

Bro, come on, man.

What's up, Josh? What's going on, man? Let's talk about it.

Well, just a couple different things here. So you know a couple days ago we talked about and and grant, I looked at the WTI, so you were right, it actually went negative today.

I made a little thread about where inflation is at right now. So if you wanna check that out, it's on my on my Twitter, I'm talking about that. But opportunity, focus on real estate one, I gotta say, it's with Cardinal Capital and as you said, with what you're did with what's known as a reggae.

It's most people. And when I come from the Wall Street side, they look down on that because it's why would we want to collect money or get money from and do all that extra work? So it's not only.

Sure.

Front. Front from what? From ordinary people, 97% of the population.

Ordinary people and the reason why is because how much money it costs with the SEC.

Uh-huh. To acquire that, yeah.

And so when when grant talks.

Yeah.

Well, well, well, let, let, let's just clear it up. It's not because of how much money it costs, it's how much work it is. And they're like shit. It's just easier to call my rich buddy, I'll call Carl Icahn and he'll put in a billion. I'll call my pension fund CalPERS and they'll put in 5 billion. See guys they've been feeding.

See you got you guys that are sick of the system.

What's the terms?

You know, they they just keep feeding the rich system. It's not necessarily people but it's institutions. So it's easier for them to call the Hartford, the The New York, MetLife, MetLife or New York Life Annuity and say hey guys, we need 2 billion. OK, yeah, we'll do that. What's the terms? And they work the terms out, they bypass America.

And what I'm doing is I don't want to deal with those people. I want to deal with you guys.

It might be more expensive for me, but long term I'm gonna feel better about it. It's better for you and when these guys get clocked, and that's that's what's happening. The whole group's going to get clocked here. I'm in the right place and so will you be.

Absolutely. And that's one of my points that I wanted to emphasize here. What's happening not only in the stock market but in the real estate market, you touched on this a little bit as well, is that real estate managers, operators and so forth, they have to sell their winners. Why? Because everything has gone down. That means they have to sell what's the most profitable. It happens in the stock market as well. Everything goes down. They have to sell the best to raise capital. And right now with

Based off of IS is inflows. Once those inflows stop, then everything reverses back and they have to start selling assets, no matter if it's equities, no matter if it's real estate and so forth. So that's why there's a lot of opportunity.

Now you didn't name on your list there Bruce Flatt, who's the Brookfield Asset manager, it's a publicly traded company, Bam. But he just came out, he said that he has 125 billion ready to invest because he believes, as you said as well, in the next quarter, second quarter, third quarter, there's going to be a lot of opportunity. The guy that was in Toronto, that's what I would look at, trying to get into some of these publicly traded REITs for the time being before you get your card to get down

In the United States.

Yeah, I agree with that. And again, there's there's a list of names, but when you go to.

When you go to them.

Just remember, you're you're in a you got to go with some kind of resume.

Yeah.

Yeah. And that's why I said the best option. I think what you're saying is with you, Cardone, I mean, Nelson had asked like, what's the why, why? Why do people are afraid to go big? Well, it's afraid to fail. It's sounds a lot harder. They like to play it safe. And I think a little bit it's about money, but the best opportunity with real estate is the partner, as you said. I mean, it's when you think about like equity. Like Mark Zuckerberg is a billionaire. He could have kept Facebook all to him

But he didn't. You get investors along because.

What, what? What piece? What? This is a great example. What piece did how much did he give away to become one of the richest men in the world?

He he struck a sweetheart deal. I don't know if you know this. He was one of the first people to go public without giving out any shares of the board, any voting shares.

So you invest into Facebook or Meta, you don't have any voting rights at all. So that's like it's unheard of to to buy a piece of a company and not even have any voting rights. So he was one of the first people to to do that. So how he structured Facebook when it went public is one of the first ways first.

Yeah, yeah. But what what? So what percentage shares though, does he own today? Is it?

Yeah, OK.

I don't know offhand. He still owns a significant lot.

That's OK.

But it's it's it's he the issue. The shares that went public are no non voting so that's why his job.

Right, right, right.

Yeah, it's it's one of the more odd scenarios in the public equity market, but that's not much of a superstar. He wasn't how much Wall Street just wanted to get him.

Yeah, he owned. He owned. He owns 13.6% of the company. There's the answer.

OK.

So that means he is not a majority owner, but he has control.

Yeah.

And that's a great example for everybody in the room. Would you rather 13% of a billion dollar deal or 100% of $1,000,000 deal?

As I learned from you, it's big numbers, you know, and that's that's what matters at the end of the day.

Yeah, it's just the only thing, the only, the only thing that's changing is the zeros and your courage, because nothing else really changed except for one thing. The real estate's better.

And great real estate is always going to make greater money than poor real estate.

Yeah.

Yeah. And I think that's the other opportunity. When you think about it like Someone Like You normal real estate people, that's where the opportunities at right now because as I said, they have to sell the winners. Real estate people don't sell. That's why I, I know you love to talk about my real estate never changes because you're the guy that's just going to hold forever. You're not a seller.

Well, you know, I'm, I'm. I'm using a group called Camden Camden.

They own. Let me see what Camden owns. Camden's in every town in America. You guys know that name? Camden.

They own let me see what their number is.

They never sell. That's their time horizon. Now there is one.

Exception to that, they have to sell when something gets too old. So the the.

Age of their asset, they they, their, their entire portfolio can only age to a certain degree, at which point they have to sell. But they're not, they're not interested in getting rid of stuff.

Because they know rents. The rents, for instance, since 1945 have gone up every decade.

And that's what supports the value of this real estate, it's the cash flow.

Absolutely. Good talking with you. I'm gonna hop off to some other people on. I appreciate a grant.

Love you buddy.

Thank you. Yeah, yeah, yeah, yeah. I see Camden's at Camden's out of Houston. They own 58,000 units, so they're not, they're #17 on the list. They're probably not a seller unless something they have is like 25 years or older.

100% grant. Appreciate you, Mr Joshua. Let's go to Terrence and also guys, by the way, let's get that chat all the way up to 200 right now, right? Everybody in here, tap that bottom right icon, quote the tweet, type into your city. Ask your question for grant. Put a hashtag 10X and tag Elon Musk. Let's get everybody in here to do it. We have about what, 413 people in the room? Let's get it all the way up to 200 right now.

I appreciate you guys. Thank you very much. Let's go to Terrence. Mr Terrence, how you doing tonight, man? What's going on?

What's up, Nelson? What's up? Great man. It's good to see y'all boys, bro.

Come on.

Likewise brother.

Yeah, man.

Wow.

Wanted to chop it up with you, grant. We were in clubhouse probably about six months back. Me and your wife, we worked together. Exp we had did a couple sessions together and I think that's how you and I connected. I'm still gonna bring my wife down to Miami so we can come see you guys. I just closed my first when my second deal, 4042 million bucks in Dallas, 240 units, kind of Class B plus.

Wow, nice.

Too quick and that was from, that was from you encouraging me, bro, six months ago because my wife and I do. We, you know, we built a portfolio student housing, single family rentals, duplexes. We got about 600 beds of just single family houses, duplexes and townhomes. But I like after we chopped it up a couple times, I was like, hey babe, let's go raise capital because everything we've done, we've done about 150 million of real estate.

That with no money raised. So our first two syndications were in the last 6 to 9 months and that was from you, bro, encouraging me and clubhouse.

Good for you, man.

So appreciate that. My question to you. Thank you, grant. My question to you is.

What when you're talking about?

These bigger groups, these private equity guys obviously with their floating rates and shit like that, how would you structure the debt if you were to take down and I know you will, but how would you structure that debt with the interest rate market? And then I want to ask you one other question after that.

Well, it just depends on the deal, right?

So the rate rates are pulling back right now and I don't, you know, I I'm not. We just bought a deal in Arizona. We just raised 100% of the money.

So it was a $76 million raise. We raised all of it.

Uh, rather than using any debt now, what I'll do is I'll wait for the debt to pull back. I think third quarter of next year interest rates are gonna come down, not go up.

And so I'll wait until the interest rates are where I want them and then I'll lock in. You gotta understand, the debt market is frozen too, so those guys are all hurting.

And because they're not getting their fees, there was one group I saw they bought this time last year they had bought $17 billion worth of deals. This year they only bought 3.

So that's 5 1/2 times less. Well, their company depends on those fees.

And that's just one department of that company.

So.

You could always just raise all the dough, bro. There's no shortage of money on planet Earth.

For sure. Yeah, man. Yeah. And that's big and my.

OK.

And I can always look, if you can't, if you have the right asset and you can't get it all, just, you know, reach out, reach out and touch someone.

Of course.

Yeah, I'll hit you up, bro. So, so you would be interested in a code GP and something or like what would that's OK, that's a bit, bro. And then my last question then I'll get out the way and get off the stage.

So like right now and you know, we got about 600 beds of student housing, single family houses and stuff like that, but in the last nine months we've we've already acquired 415 units.

Where do you get to that point where you stop using third party property managers? Like once you kind of get enough critical mass to bring it in-house? What would you say?

Yeah, well, I I own 12,000 units and I have another 13,000 being managed and it's all managed by third party.

Yeah.

Yes, Sir.

So I I don't know what that number is, but I I don't think it's yet is what meant my answer? So I pay about five, I pay about let me see on 25.

I don't think there's not a lot of money in management, man.

Yeah.

It's a pain in the ass pro, so I'd rather hold a third party.

Possible.

Because the money's not made management, the money is made in ownership.

For sure. Well, hey bro, I'm.

And it's hard to be a manager. It's hard to be a manager and an owner a, you know, a buyer.

Let's go.

For sure, bro. Well, I'm going to start doubling up, man. I'm actually raising. Yeah, I'm gonna hit you up soon. I'm raising 100 million right now. So I'll, I'll talk to you soon.

Yeah, beautiful man.

Alright. You want me to hit you on Twitter? On the clubhouse?

Uh.

What you want to do? Yeah, either one hit hit me either way. If, if if you can't get to me, e-mail Annie Ann i.e at grantcardone.com.

I'm owning, bro. Talk to you soon. Good seeing you, Nelson.

Yeah.

Absolutely, brother. Appreciate you, man.

Hey, I just, I just want to say, uh, if you're up here, we're trying to get people's questions through. If you could raise your hand, if you hit that heart button right next to the blue button down below, you can hit the hand symbol and raise your hand. It helps us keep track of, you know, who's 1st and who has a question and who needs to speak because we still got, you know, a ton of requests to speak and we really want to get everybody up here. So just hit raise your hand when you when you got

Question. But keeping that hand up keeps everybody here, you know, kind of organized. Thank you.

Appreciates you, Aiden. Absolutely. Let's go to Ronnie. Ronnie. Phillip, man. What's going on, brother?

What's up, Nelson? How are you? What's up, uncle?

Doing fantastic, man.

Yeah. So, um, Grant, I want to ask you a question, um, as far as what you're seeing in the current market and then your acquisition activity this year, for us at the kingly group, it's been a record-breaking year. We bought 983 units, 118,000,000 in transaction volume and 49 million deployed. But debt is definitely more challenging now, raising equities a lot harder.

Um, we gotta get creative on interest rate caps and things like that. So just want to get your perspective on the current market and where you think Jpal is going?

Yeah. What, what market? What market are you in?

OK.

We currently own in Dallas, NC and Atlanta.

How beautiful. Great markets. Well, Jay Powell should go to hell and.

You know, he he, Elon said the other night. He's like, well, the, the, the.

What do you say, David, about it? About Powell? He's didn't he say?

Doug Powell the Fed was making them the.

The biggest mistakes in economic history or something?

It was a pretty big claim.

So I have not been able to you've acquired more than I have this year?

I thought I was going to build it, you know, stay on track and we our goal was to buy it. We had a billion dollars worth of assets under contract in February and we had to let them go.

So I just can't make sense of deals yet. So I'm extremely disciplined. There's certain criteria I do not violate.

And until I see it.

I don't do it. And so I've never lost money in 35 years in real estate and.

I don't want to lose money, so we keep raising money. You know, we're raising money faster than we've ever raised it because we created distress fund situations where I'm a predator.

I got it on my business card grant Cardone. I am a predator.

I am prepared for that moment.

So.

These guys, these guys at the top of the food chain, they're the cool thing about Wall Street guys, they don't actually mind predators, you know, they're like, yeah, we got you, we understand who you are and what you do. That's what we do.

And they understand they're certain seasons.

Where they get consumed and you know, most of the seasons they get to do the consuming.

Uh, big institutions cannot purchase right now.

You know, they can't because they have to. They have to answer to the and there's a lot of smarter people in here than me on this, but these, these funds and hedge funds and equity funds, they have to.

You know, they have to report to people.

And I'm a private company, I don't have to report to anyone except my investors.

Robert Malone Nelson I just got a text from Robert. Robert Malone is going to do an interview with me here on spaces.

Let's go.

Hmm, hmm. So we got a Part 2.

About COVID a yeah, we're going to have Part 2, and this time I won't get.

Knocked off of social media.

He just.

Ohh, it's gonna be fine.

Yeah.

Guys, that's gonna be crazy. Robin Malone, absolutely. That's gonna be crazy.

100%.

Doctor Robert Malone? Yeah, and maybe I can talk about ivermectin this time.

Hey, Grant, you know what's interesting is that he, he started your interview with him was the first of his chain reaction of interviews that got censored. It was, I think you were the first one to interview him.

Hmm.

During that pandemic area.

Yeah, yeah.

I didn't even know it was going to be an issue, I was just curious.

I wasn't. I wasn't trying to make some anti vaccine claim.

If you hear the yeah, yeah, I know.

Yeah.

No, no, I'm just saying, I'm just saying that he, he, yeah he got a lot of Flack afterwards and some other interviews and so this should be interesting based on what, you know, ever since what's happened since then till now, the interesting to hear his takes on, on, you know.

Yeah, and I I can't wait to find out if you guys want to DM me the questions you want me to ask. Doctor Robert Malone. He was the guy that supposedly invented or discovered or stumbled across the M RNA.

And he was, he was very vocal about it in the beginning, that it was, it was dangerous.

So if you got some questions for me to ask him, just DM me and then make sure you follow me and get a notification when I do that interview, probably in the next two weeks or less.

100%, guys, 100%. So definitely tap grants profile, make sure you follow him, but also turn on the alarm bell. That's the notification bell that's going to alert you whenever he goes live here on space. So you want to make sure you're doing that right now. Absolutely. Appreciate you, Ronnie. Let me go to Kevin Mitnick. Mr Kevin Gee, man, what's what's what's going on man? Let's talk about it.

What's up? What's up, Nelson? This is Kevin Galiano AKA Kevin Trump out of New York and Florida. I'm a lawyer and investor here. And Grant, I'm actually going through your real estate master class and it was filmed back in 2019 and you said I stay away from three-year.

You know, these, these funds are doing 3 year deals and I don't do that because now it's 2019 and look ahead three years, that's gonna be 2022 and we're going to have a new president and we we have no clue what's going to happen. So that to me was just an illustration of your consistency and the fact that you know, I got to listen to my uncle Gee more often.

But anyway, my question is, do you cold call owners of properties when you're sourcing deals or do you always go through brokers?

Well, I might call call, but I'm always gonna use a broker, Kevin, because I need somebody between me and them. So I don't mind giving a guy to, you know, couple 100 grand to facilitate a deal.

So I'm looking for somebody that's professional, somebody that's, you know, like real good, that's done a bunch of deals. So like I got a guy that's done 50 billion in deals that lives here in Miami. So I found a deal in Houston. He knew the seller.

I knew the seller.

I had to think the whole thing was teed up and I called my buddy Robert and said hey, I want you to step in on this deal and facilitate between me and the seller.

And I think I gave him 200 for it. I don't know that it was necessary to give it to him, but I know I got my deal done.

And and so that way I can be, you know, I don't have to be a you know.

I don't have to go straight head on when we got a problem, I can feed it to this guy to handle it.

You know, if you don't have to be a Dick, don't be one. Let somebody else be a Dick.

Y'all know that I was saying, right?

Absolutely.

You don't have to be a Dick if you pay somebody else to be the Dick.

100%.

And and better, but, but but don't confuse that with it's better to be a Dick than take a Dick.

Yo, great.

Shout out to that man, Mr Kevin geez.

I should I shouldn't have said that. I should save that for for I shouldn't have said that I I apologize about that, man.

Yeah.

Don't hold. Don't hold that against me.

Now she.

Magina is in the room. She had to hear that. I'm sorry, guys. I'm sorry I offended you guys saying that. Don't don't hold that against me. Don't. I mean, I wonder how many people unfollowed me over that.

How come on, man, it's just a little humor, that's all. It's just a little humor.

You probably gained some followers to be honest.

100% man. It's free speech. Elon Twitter man.

Yeah.

Hey.

Let's talk about it.

Let me go to who we got on stage, Mr Michael. Mr Michael, let's talk about it. What's going on, man? How you doing?

Let's talk about it how y'all.

Hey, let's go.

I'm the outcast. I'm the outcast on this. I've got zero residential real estate. I'm in the petroleum business, own and operate convenience stores, wholesale out of petroleum up and down the East Coast. Definitely seeing a slowdown.

Hmm.

Freight is falling off a Cliff.

Yep.

Yep.

Some of my buddies that own some freight companies are seeing like unlike it's faster than O8I mean, stuff's coming to a halt, drivers are being laid off.

Deadhead like 25% of the loads now there's no return loads and it's getting it's getting pretty crazy.

But my question for you, grant, is, you know, I want to transition to this. I'm going to continue to do what I do. Very blessed.

Yeah, yeah, I think, I think.

I'm really good at buying and selling fuel, but like you think this is a 24 month thing, do you think it's an 18 month thing and is it 25% down, is it 30%? What do you, what do you think and what are your guys hearing with all of your big, your big money investors that invest with you?

Well, I think, I think it is a two year thing.

Umm.

Hmm.

But I think it's gonna be, it could be, it could be less than that. But it's gonna be violent like the like what you just said about the speed at which is happening. I think that's what's going to happen. It's going to fall off a Cliff.

And then it's going to recover like it's going to be a violent recovery too.

You know, I don't think it's going to be, I don't think it's going to be a big recovery in homes. I think it's going to be a big recovery in rental properties.

You know that old saying about you're gonna own nothing and be happy about it? I think that's where we're going.

Yeah.

People were rent everything.

Hours homes.

Those, you name it. I mean, we're renting everything now. I'm renting, I'm renting Twitter right now, right? I'm renting my phone. I mean, no, nobody owns their phone. Most people were getting a new phone every two or three years. So.

Running the service that it's on, AT&T, Verizon, T-Mobile, whatever the case is, you know you're you're you. People can say they own their home, but do you really.

Hmm.

Or do you just make payments on it?

So I think, I think it's going to be.

You know, I think it's gonna be fun.

I don't think it's gonna. I think it's an opportunity, not a crisis.

I think it's gonna be a crisis for a lot of people though.

But a guy like you, if you start looking, where do you live? What city?

I live in Atlanta, but I mean, I own and operate about 20 stores, mostly in the Panhandle, but I wholesale.

Yeah bro, every time you, every time you're in the Panhandle, you should be looking at property every.

Service call calling on somebody or down there like we we own 1200 units in the Panhandle. The Panhandle ain't going away ever.

At some.

Yeah.

Oh, that's that's that's where, that's where I built 3. Right before the, the, the OR this.

Some of the best, some of the best real estate in America is sitting in that Panhandle.

And nobody knows it. And it's got a it's got a kind of a bad mark on it because it's kind of a lot of rednecks.

Lower Alabama.

Yeah.

Yeah, exactly. But man, the sand down there is great.

Yeah.

You know, it's it's not expensive to live down there.

People have a, you know, they don't want to be in Miami, but, but they're like, man, it's cool down here. They're not sophisticated enough to be in Miami, you know? So.

Well, I did my first hotel too. I mean, don't laugh at me, but I know I heard you say about hotels. It's been good for us, but.

Yeah.

Yeah, well, that's fine. There are a lot of work though, you agree?

Third party management, thank God. But yeah, yeah, yeah.

Yeah, yeah. But there you go, there you go. So, but, but in hotels are good. When the economy is good, hotels are not that good.

If we end up with, you know, 15 or 18% percent layoffs.

Yeah, yeah.

Yeah.

Yeah, yeah. We we see it. It's already, it's already happening. I mean, our trucks, the trucks, I can't believe how much our truck stops and the Carolinas have just been. I mean, to drop 25% year over year is insane.

Yeah, crazy.

Appreciate you man.

So awesome, man. Love the stuff. Thanks for having me on, guys. See you.

I'm hey, how much money you sitting on right now? I can tell you got a lot of money.

Actually, I don't have a lot I'm sitting on. I'm I felt so much in the last three years on stores.

But.

Not low 9.

Low nines.

Yeah.

OK.

Yes, Sir.

Appreciates you.

God bless you all. Thank you, man.

Let's do it.

Absolutely, my brother. Absolutely, man. Let's go to Mr Ace. Let's go to Mr Ace. And guys, by the way, if you want to get on stage, hit the request button. If it's taking too long, you gotta go hit that chat feature at the bottom right corner, type your city, type your question, put a hashtag 10X and tag Elon and I'm going to read the questions to grant short. Matter of fact, let's take some of those questions right now. Grant, or what you think. Let's take some of those questions.

Yeah, yeah.

Alright, let me see what we got over here. Um, so somebody's asking, Grant, what would you recommend to Elon who owns no home? Is that a smart plan or not? What are your thoughts?

Yeah, of course it is. He's the richest guy in the world, so I don't need to own a home.

You know, they're bad investments, guys.

So I'm not buying homes, I'm buying properties I can rent to other people.

So.

The homes are not a good investment.

Absolutely appreciates you, Uncle Jay. Alright, let me go to the human calculator.

What's going on, Mr Calculator? Let's let let's. It sounds like you ought to blow our minds tonight, bad guy. Damn.

Hey, thanks for having me on.

Like God damn math man shit. Let's go.

I think thanks man. It's it's fun. You guys do a great job on clubhouse, so it's nice to see you over here on Twitter.

Ohh, let's go. You're from clubhouse.

Yes, yes.

Let's go baby. Let's talk about it.

And I was actually, I was on clubhouse the night that grants TV show came out when he was hosting a before party on.

Clubhouse as the billion undercover billionaire launch. So it was quite exciting to witness that energy grant. That was a fun night for you guys, huh?

Ohh.

Yeah, yeah, it was. Thank you. I I'm recutting that show right now, actually. I'm doing behind the scenes.

So we should have it up in a week, maybe 7-8 days.

I saw.

At GC TV with the whole show will be I'll show you what was really happening. I actually watched this show with you, but tell you what's going on before and after the scenes.

Looking forward to it. I watched every second. It was it was fun and entertaining. Uh, it's fascinating experience for you. I'm in the Guinness Book of World Records as the fastest human calculator, and I can do numbers in my head, you know, as fast as I can talk and do all kinds of ads. Subtract, multiply, divide.

What's 12? What's 12,440 units times $18150?

Ohh sorry, sorry.

Well, that's a little big for me. I gotta warm up first. Grant, give me a get. No worries. Give me a date and I'll tell you what day of the week it was. They've just pick a random date or a date that you know. Just tell me the month, day, year and I'll calculate what day of the week it was on.

March 21st, 1958.

That was a Friday.

OK.

So I can calculate any date in history.

First time I had sex.

Definitely a Friday.

And so, so I go around the world performing as the human calculator. I've been on Oprah and Ellen. I have a TV show on The History Channel I've been on. I've performed for first families like the Obamas and Clintons and bushes and royalty around the world. It's been a dream come true. But when COVID hit, I had to stop visiting schools. They didn't have programs. And I moved back to my hometown in upstate New York. And I found a book while I was here that claims that basketball was invented in th

Writers and put together a book and found all this evidence to prove it. And we put out a book called Naismith Basketball. Stolen legacy. And the Washington Post came up here and covered all our evidence, gave us the front page of the sports section. We're in talks with the Hall of Fame to figure out what to do with this kerfuffle about who really invented the Hall of Fame. But there's this little village here in upstate New York that's 28 miles from Cooperstown, the baseball Hall of Fame, where

And it would be incredible if you and your team grant would consider just looking at this project. It's it's one block.

Yeah.

Yeah.

Of this village where basketball truly not only was invented, but the first game. And we have physical evidence from the first game. So I I'm not a real estate developer. I'm an entertainer and an author. And it's I'm overwhelmed by this but but I need all the help I can get. But I just wanted to throw it in front to let you know there's an opportunity out there for you to own the future Cooperstown of basketball.

Dude, that's awesome, man. Where is it?

Yeah.

Yeah.

Yeah.

Hmm.

Upstate New York, it's Herkimer, NY is the name of the village in town. It's an hour from Syracuse and Albany, so it's right between them. And we're exactly north of Cooperstown. And we have a diamond mine here. The Herkimer Diamond mine is world famous. And so there's all these interesting things here. But this basketball story would revitalize our village. And I own 150 year old factory called the Quackenbush factory. This man invented The Nutcracker. He invented the air pistol, air rifle, the

Wow.

And him and his wife donated the money to open the YMCA on this block, where a year later his son was part of the first ever basketball team. And so I'm trying to revitalize my village through this story.

Yeah dude, that's awesome man. I'm trying to reach out, realize my net worth right now.

So.

I respect that.

Well, appreciate.

Yeah, I'm just being straight with you. Like, you know, I'm on a mission, bro. I'm on a mission to create, you know, wealth for myself and for for the people that want to work with me and do stuff with me. So, but maybe one day when I'm feeling so philanthropic that I can save Cooperstown, I'll come up there and fund that deal. How? How much money, how much money do you think it takes?

Yeah.

It's going to take 20 million to restore the entire block with all the historic buildings that played a role and it would give you over 200 rooms and seven acres right in the middle of town.

Who owns it?

I do.

Ohh you own it. You want to sell me something?

Ohh.

Yeah.

Oh, that's cool.

No, no, I just wanna partnership. Uh, you know, anything. Just involvement. It's it's overwhelming. I'm meeting with people, we're going for grants. We have a $2,000,000 grant coming, you know, but it's I'm in over my head.

Yeah, I got it.

But but it's I believe it would be a profitable.

Well, I do, I do a real estate club 5050 weeks of the year. I do this real estate club with 250 investors and.

Hmm.

You know these guys are all looking for deals. Every week we meet for an hour and a half on Wednesdays. Maybe join that club.

I will look into it right away. Thank you.

You got, you got, you got to get in the you gotta get in the room with money, man. That's what you gotta do.

Hmm.

Yeah, well.

Well, we had to get all our ducks in a row first and make sure we had all the documents in there. You know, it's it's been a lot of work to get all that done, but because it's been sitting there for 16 years, so, but yeah, I appreciate all the hard work.

Yeah. Appreciate you, brother. Appreciate you.

Thanks for your time, Grant.

Well.

12 what's 12,440 * 1850 and I get I get checks every month.

I don't want to cheat and and take too long because people think I'm using a calculator, but what I'll do for you real quick, just where there's no.

Dude, I don't mind if you use the calculator, man. Just because you said you the human calculator doesn't mean you can't use a calculator.

Well, the reason I am is because I I have.

Hey, hey.

OK, this this no there's no answer thing. Maybe you got me worried now. I don't think you are human calculator or know how to use a calculator.

Yeah, but.

Hahaha. Let's talk about it.

I love it. Well, I mean, I just feel guilty bringing up a calculator, but what I can show you is if you give me 15 seconds.

Well, what? What what is it, 12,440 * 1850 a month?