If you’re interested in real estate, then you are probably familiar with the real estate mogul Grant Cardone. Cardone is a sales trainer, motivational speaker, real estate investor, and thought leader.
He gets recurring revenue from multiple different income streams like book deals, speaking events, and real estate.
As of August 2022, Grant Cardone has a net worth of $600 million. He has written eight books, run 13 business programs, and is the CEO of seven companies. This post shows you exactly what he did to achieve his massive net worth.
Cardone was born on March 21st, 1958, in Lake Charles, Louisiana. He was born the fourth of five children. Cardone had a troubled upbringing and, at an early age, was introduced to drugs and alcohol.
Throughout high school, he was in and out of detention and was constantly getting suspensions. He graduated from high school and attended McNeese State University in 1981, earning his Bachelor of Science in accounting.
Grant Cardone Sales Career
After graduating from college, Cardone started his career in sales. He traveled all over the United States, living in Houston and Los Angeles. He never loved his job and, unfortunately, never shook his drug addiction.
By the age of 25, he ended up in rehab.
After attending rehab, Cardone found a new lease on life. Through rehab, he discovered two things.
- He hated sales
- He hated being broke even more
As much as he wanted to quit his sales job, he knew that having a job kept him busy and would help stop him fall back into drug abuse.
Grant Cardone Before Investing In Real Estate
After rehab, Cardone decided to go into consulting. He partnered with car dealerships and manufacturers to introduce a new sales method. Cardone wanted to disrupt the auto industry by making it a consumer-friendly and efficient sales process. With the money he was making as a consultant, he started to put money aside to start investing. His asset class of choice? Real estate.
Grant Cardone After Investing In Real Estate
Cardone’s first investment was a single-family property in Houston. At first, it was a successful investment as he rented it to tenants for a few months. However, after the tenants left, his cash flow dried up. He learned a crucial lesson: never depend on one tenant for cash flow.
He sold that property, and 4 years later, he bought his second property at 29. This property was a multi-family household. By this point, with the sale of his first and second property now generating cash flow, he quickly bought his third property.
Using the income from the properties he acquired, he kept investing in more and more real estate. He started his own company, Cardone Capital, and by 2012 it was one of the largest private party real estate companies in Florida. Today he owns over 4,500 apartments.
Cardone Capital, Grant Cardone’s real estate company, owns and controls over eight hundred million dollars worth of properties in the United States. Cardone prefers to buy his real estate through debt so that he doesn’t share his profits with others.
The 10X Rule
As much as Cardone is a fantastic real estate investor, he is also a great thought leader. He’s written multiple books and created many business programs. His most notable book has been the 10x Rule.
The book is based on the idea that you should figure out what you want to do. Then you multiply the effort it will take to get there by 10. This will help guarantee that you don’t fall short of your goal. This book aligns with his motto, “Be obsessed or be average.”
Grant Cardone Net Worth 2022
As of August 2022, Grant Cardone has a net worth of $600 million. Diversifying his investments across various asset classes and achievements is no surprise. His two books, “If You’re Not First, You’re Last” and “10X Rule,” were bestsellers. He still gets paid today to speak at notable events all over the country and is well respected by his peers.
He has appeared on many podcasts over the years, such as the Your Success Podcast and Logan Paul’s podcast Impaulsive, where he mainly discusses how to acquire and maintain wealth, success, and happiness.
- It’s not where you come from; it’s where you finish: Cardone’s success story is not typical. After struggling with drugs and alcoholism for most of his adolescent life, it would be easy to write him off. However, Cardone could bounce back and understand that he still had life in front of him. Don’t worry about where you start; focus on where you want to finish
- Let your anger motivate you: Cardone became a consultant for the automobile industry because he was frustrated with traditional sales. Traditional sales were all about high-pressure tactics and never accepting no for an answer. He chose to focus on ethical sales, which is why he saw success with his consulting business.
- Use your investments to finance your other investments: Some people invest money in the hopes of buying a new car or a new house. Cardone invested money to buy more assets that could help him make more money. The key to massive wealth is to have your money work for you. You can’t do this if you spend your money on liabilities and assets that depreciate rather than appreciate.