![]() His real estate portfolio is worth $2.2 billion dollars. His other business, Cardone Ventures, he claims is a $50 million dollar business. After rinsing and repeating that formula for three decades, Grant’s main business, Cardone Enterprises, will do $100 million this year. The only thing that changed was he quit buying homes and cars, quit saving cash, and became obsessed with acquiring “good assets.”įast forward to today. It’s because I increased my debt and increased my assets.” “How’d I do that? It’s not because I reduced my spending or my debt. And he turned all of his cash into money-making assets, starting with an apartment building which he bought with a $2.5 million dollar loan.ĭo the math and, at age 30, for the first time ever, Grant Cardone, at least on paper, was a millionaire. He got rid of the cars and leased a Toyota Camry. So Grant got rid of the house and instead rented a small condo. Eventually his uncle tells him, “Dude, if you wanna get rich, you gotta figure out how to get your money to work for ya.” Better, but not exactly the rockstar status he’d dreamed of. Subtract roughly $150k worth of debt, and Grant’s net worth was about $190,000 at age 28. “I went from a negative $43,500 and I would end up accumulating a house that was worth $200,000 I had cars that were worth $50,000 cash of about $50,000 sitting around my 401(k)-that was a mistake, in my 20s-was worth, I dunno, $40,000 so that’s about $340,000 in gross assets. “When I learned this, my entire life changed,” Grant recalled. To do that, he determined the opposite was true: that he would need to use debt to his advantage. He wanted to be so rich, he could spend as much money as he wanted, give it away, live an awesome life, and make his family proud. Slowly but surely, Uncle G realized that’s no way to live. NEXT: What Are Virtual Toll Booths And How To Grow Your Net Worth With Them
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