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Uncle G brings it for free every Monday with captain Ryan. Today on the show Grant advises to not chase your budget. Finances are won on offence. When you don’t have money, you need to get other people’s money. Who’s got your money? Don’t buy deals you wouldn’t look at if you had a bunch of money.
The fact is, we all get stuck finding money no matter how rich you are, so the thing to keep in mind is the deal is what matters, not how much money you have. Most people do deals based on how much money they have. There is no such thing as no money down because you will have to exchange something with them—sooner or later the money will have to come from somewhere. Where can you go to raise money? It’s out there, you just have to find it. Act as a broker and act like you know what you’re doing.
Here are 3 things to ask before going into any deal:
1.Ask a woman to tell you how she felt around the property. Just like when you go into a room, you know how it feels. How does the property feel to you? This is subjective, but ask yourself this.
2.Go over the numbers, the T12. This is objective. Do the numbers add up and make sense?
3.Go look at worst case scenario. Go look at the worst year ever. Will it still break even if another 2008 happens?
Hey! I’m new here! I’d love to see the math a little more slowly and/or clearly... or explain the percentages and fees and minimums etc ... I’m a drummer haha. Maybe an episode on calculating all these numbers more? And wait, what’s “accredited”? How do I get accredited ?
This comment section is full of bad advice. If you want to get in the game, there is a real way. You gotta start somewhere. It's called house hacking. Buy a house with an FHA loan so you only need 3.5% down. Should be around $6,000 - $8,000 if you buy somewhere cheap. Then rent out most bedrooms to long term rentals and one bedroom for air bnb. Boom. Instant ROI. And...if you live there, you are now living for free. Use the money you're not spending on rent to buy your next property.
I got a no-money down loan for a duplex. No money down. There were various fees, not much, on a place that cost me 120 grand. Two units. Rent I collect per month: 1,000 bucks. Mortgage: 1,160 a month. 12-year mortgage. I'm three years in now. Units always rented out. At the end of twelve years I'll collect another two years worth of rent and break even. Then I'll sell and whatever I make is gravy. Profit. Got that? I repeat: No money down. How? I had (still have) other properties in my portfolio. Paid up. Finished. Pay attention! You people are not Grant Cardone. Get Real. Even better: GET REAL ESTATE
Also, property managers charge 3%, not 10%. Don't buy in junky areas. Less than 16-units is ok. Do what YOU want. Not what Cardone does. Not what I do. Do what you can, man! Baby! Baby! Custodians living in the building? Really? Dude! Dude!!
Thank you for sharing your story. I am a recovering addict and your story has inspired me very much. My daughter graduated from hs this year and I am at a place in my life where I can invest my time and the small amount of savings (abt. $5k) I have at the moment. I am super motivated and know that anything is possible if I stay focused and surround myself with positive people, like yourself. I would love to come to one of your conferences and also bring my daughter along. She started college this fall and has already dropped out. I have always told her that I wouldn’t be disappointed in her if she didn’t go to college immediately or ever, for that matter. I know at 18 yo I had no clue as to what I wanted to do with my life, yet I went to college anyway and now I owe $50+ in student loans. My daughter is also motivated and extremely talented. I am so proud of her for having the courage to follow her heart, with the risk of feeling like she has disappointed her closed minded grandparents (who have been a huge part of her life throughout the years). I am probably sharing way too much info, but it’s worth the risk, today, to try and get any advice/help I can get. I have been watching Tai Lopez’s YouTube Channel and that’s how I found you. This is the second video of yours I have watched and you seem to genuinely want to help people. I admire you for giving back and sharing your story so openly. You prob have no idea how many people you have helped/are helping.
It has always been a dream/vision of mine to own rental properties and also flip houses. Because I have such a small amt of cash, would you recommend that we first find one or more products to sell on amazon/shopify, etc. to earn more money before even thinking about real estate? We are at least wanting to invest in one of your classes/test groups, but I wasn’t sure if that would be one for e-commerce or real estate? I am desperately seeking guidance or a mentor to help with this process. I have no doubt that my daughter and I, both, will achieve financial freedom and I am so ready to start this journey. Thank you, again, and I look forward to hearing from you! Keep doing what you’re doing. You are touching lives!
Are condos a good investment? I work in law enforcement $84k/yearly and own 4 condos now (had 7 at one point). just put $20k into a full remodel and about to sell and net $47k. was thinking of beach/vacation condo and AirBnB the hell out of it...but now your videos have me thinking of apt buildings instead....im mind stuck now - lol.
How on earth can you produce 4000$/month income from a 200.000$ deal?? I live in Slovenia and 200.000€ buys me 3 shitty apartments that I can rent for about 350€/month or 1 nice apartment that I can rent for about 700€ - 1000€ tops. If I get really creative I can buy an old house, repair it, rent it to students for 200€/room and if I am very lucky I can produce 1500€/month income tops. Please advice.
I really love all your video make change how i think about money. Well, I know i work for hotel in Bali, Indonesia in small island called Nusa Penida but this island has good progress, many foreigners now coming here. And hotel owner offer me his land cause i really want to have land here and i know exactly for 1,5 years how the progress here.
He sell the land with really good deal cause I make good business ( good revenue ) for him, I work as a sales in his hotel.
He sell 1,000 dollars per acre to me and i want to take 20 acre but he want to offer 40 acre to me and i only have money for 20 acre land. Do you think I should go to bank take loan for other 20 acre land ? Otherwise i will lose this chance
Really need your suggest
THANK YOU GRANT, DUDE YOU ARE MY INSPIRATION! I brought your closers product and it has helped me so far. I got to live with it a little while longer. I make about $120,000 average (give or take), and feel like I'm making $40,000. I am already 58 years young, I don't have a lot of time before I wish to retire, I'm a songwriter & producer, I'll like to have some fun before I get too old. Help!
Where do get the money from to fix up the property when you first buy it? Also, can you do a video about figuring out the numbers to manage and/or fix up a property? How do you go by managing your properties? Do you use a management company?
What’s a good income/investment ratio in order to expect return worth investing without barely making it by until the investment starts kicking in to invest more? Say I’m making 5-8k a month but want to invest would I save over a 6 month period withholding 40% income at a mid range of 6500 a month leaving me with 2600 every month multiplied by 6 ending in 15600. Even at say 11-12% with your 6% then 65/35 that’s around 1716 income.. what is the goal to stack more of the starting flow of cash to make the investments worth doing? Hopefully that makes sense
Your really inspiring, I wish I had the money to take the time to meet you at one of your events I respect the knowledge your giving us it’s crazy how much I’ve learned in just 1 hour I’m middleclass 25 bad credit kinda rough life thinking bout just giving up, but god put you in my way and showed me that there’s more in life , us people are just so ignorant and blind it’s crazy thanks a lot for your time !!!!! May God Keep blessing you 🙌🏻🙌🏻🙌🏻🙌🏻
Question...unlike what the comments say wouldnt it be smarter for you to to what Bill is doing, start small with one house, work your up to however many, sell houses in a bundle then go to the next investment instead of saving a shit ton of money like 100k and up to just start out? Also should you get a real estate license or no?
The last calculation on the 64 units where he did the NOI minus the 156k to get the $115k, what is that 115k figure? I understand he took the 272k which is yearly takeaway. But subtracting the 58%from the 2,700,000 does what?
Amazing episode Grant. If somebody had access to $3M of private funds, how would you recommend setting up the syndication? Can you explain more about the corporate structure?
I understand and agree when you say the private money should get all the returns in the first year since they’re funding the project , and profits above x% are split 65/35% , but I’d like to learn more about how you would get started - how much do you expect legal fees to cost to make a contract for this syndication?
How about a former old folks home. 20 units. Only 3 units have kitchens. Nothing is currently rented out. Built in 1912, brick, nice looking. Good location, small town in need of apt's. Do you only buy apt. complexes that have people renting out rooms? Planning on looking at it next week. Thanks brother...keep them videos coming!
No Grant, I don't know ANYONE that has $400k, much less someone that would lend that to me. I think you have some good things to say, but you should be more honest about how hard it is to do. Instead of trying to convince everyone it's all their fault for not thinking big enough.
Cardone does not develop property. Does not take real risks. Does not create neighborhoods and communities and schools. Just makes money by skimming. Doesn't hire builders and contractors. Buys distressed properties. Got that, people?
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