What is going on with grant cardone????

Buying & Selling Real Estate

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What is going on with grant cardone????

Will G.

Rental Property Investor · Maryville, TN · Member since 2009 · 529 posts · 414 votes

Is this a joke?

bankruptcy vid

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Scott TrenchPro Member

Rental Property Investor · Denver, CO · Member since 2014 · 2k+ posts · 6k+ votes

I think folks should be careful about what they post here until more information develops...

Podcast Guest on Show #223

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Rob Hakes
Murray, UT · Member since 2016 · 162 posts · 166 votes
6y
@Will G.
Wow! He must have been following his own advice.
Not surprised.
4 Reply
Will G.
OP
Rental Property Investor · Maryville, TN · Member since 2009 · 529 posts · 414 votes
6y
@Rob Hakes it was apparently taken down from his site, but wondering if this is real?
0 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
6y
right up until he said you can buy his 50 million dollar jet for 6 million..
Podcast Guest on Show #222
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11 Reply
Rob Hakes
Murray, UT · Member since 2016 · 162 posts · 166 votes
6y
Maybe a Deep Fake? Totally bizarre.
1 Reply
Karl B.
Rental Property Investor · Erie, PA · Member since 2015 · 1k+ posts · 2k+ votes
6y
Based on the video below I think the original video the OP posted was a Grant Cardone 'joke' to make a point (to get attention give bad news).

In this link he claims to be at 93.8% occupancy and alludes to yesterday's video as well:

https://www.youtube.com/watch?v=85ZA5clk3Lg

8 Reply
Matt R.
Sherman Oaks, CA · Member since 2013 · 3k+ posts · 2k+ votes
6y
He bought zero add value buildings at the top of the market with majority noobs unaccredited money. Then jokes around with opm as they don't get paid and he still does. Only if he invested as good as he marketed. Let's face it, the dude is a first class 10X dbag sometimes.
42 Reply
Scott TrenchPro Member
Rental Property Investor · Denver, CO · Member since 2014 · 2k+ posts · 6k+ votes
6y
I think folks should be careful about what they post here until more information develops...
Podcast Guest on Show #223
63 Reply
Bill F.
Investor · Boston, MA · Member since 2015 · 1k+ posts · 3k+ votes
6y
@Will G.

He got you man. He is a salesman, he pushes his products all the time. The video that @Karl B. posted is a perfect example.

I remember listening to his BP podcast he said something to the effect of 'if you don't know my name, know who I am, what I do, that is my fault'

Credit where credit is due: the man knows how to get his name out there.

10 Reply
Joshua Heath
Homeowner · Parrish, FL · Member since 2020 · 7 posts · 7 votes
6y
If you follow any of his social media outlets, the video in question was to prove a point shared by Kevin Hart. Bad news travels faster than any other. Uncle G is a smart cookie so I'd recommend, like Scott Trench and Bill F. states, diving deeper into the content and the releasing agent before jumping the gun.
5 Reply
Nick W. Graham
Attorney · Carrollton, IL · Member since 2020 · 65 posts · 14 votes
6y
@Scott Trench. I’ll echo Scott’s remarks...
2 Reply
Account Closed
Rental Property Investor · Torrance, CA · Member since 2016 · 724 posts · 1k+ votes
6y
Dave Ramsey’s not looking like such a simpleton right now is he?
6 Reply
Nick D.
Rental Property Investor · Springfield, MA · Member since 2019 · 19 posts · 21 votes
6y
It was a bad joke played at a bad time to get attention. He’s not bankrupt. We are all in tough times as landlords right now, and I don’t see the need to make bankruptcy jokes during these times.
6 Reply
Brian Garrett
Real Estate Investor · Palm Beach County, FL · Member since 2017 · 3k+ posts · 2k+ votes
6y
How anyone could watch that video and think it was real is beyond me. $50M jet for $6M. $400K Patek for $4K. Making jokes like “the feds are here” while laughing with his assistant. The people who don’t recognize that this is nothing more than marketing are the same gullible ones that he would love to invest in one of his deals.
10 Reply
Dan H.Pro Member
Investor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes
6y
Originally posted by @Account Closed:
Dave Ramsey’s not looking like such a simpleton right now is he?

I still think he looks like a simpleton. This does not mean that his advice is not good for the majority of Americans who have very little financial literacy and do not understand how bad credit card debt can be.
S&P500 is currently down less than 20% from Corona. Last year the S&P500 went up over 30%. It went up marginally this year prior to the fall from Corona. Even if you are counting just from the beginning of 2019, which includes a huge decline of stock prices due to the Corona virus, a person would have been better far off not paying down their mortgage and instead be invested in S&P500.
His advice is simple and meant for the masses who over spend and under earn. It is good, conservative, safe, simple advice for many people and better than they would do if they continued their reckless spending. It is not good advice for the more financially literate that understand return versus cost of money. Who would not spend recklessly, but invest wisely. Etc.
20 Reply
Matt R.
Sherman Oaks, CA · Member since 2013 · 3k+ posts · 2k+ votes
6y
Originally posted by @Scott Trench:
I think folks should be careful about what they post here until more information develops...

There is plenty of enough published information on these GC lopsided syndications to know whats up. He made a joke going BK video that was deleted in hours. Maybe GC should be more careful.
2 Reply
Account Closed
Rental Property Investor · Canton, OH · Member since 2017 · 1k+ posts · 1k+ votes
6y
@Will G.
Well, you can just ask @Grant Cardone
He's on BP
3 Reply
Brock Mogensen
Real Estate Syndicator · Milwaukee, WI · Member since 2018 · 1k+ posts · 907 votes
6y
Fake news
1 Reply
Nicholas Smith
New to Real Estate · London, ON · Member since 2019 · 33 posts · 13 votes
6y
@Scott Trench
I agree with you big time on that Scott!
2 Reply
Pratik P.
Flipper/Rehabber · Sacramento, CA · Member since 2016 · 807 posts · 815 votes
6y
Originally posted by @Account Closed:
Dave Ramsey’s not looking like such a simpleton right now is he?

Still a "simpleton" 100%.
There's a sweet spot between over-leveraged and all cash. If you want to scale at all, you need debt with healthy reserves.
9 Reply
Account Closed
Investor · Singapore · Member since 2013 · 1k+ posts · 3k+ votes
6y
I think he's a blowhard. Think about it. If you are really such a hotshot investor why do you need peanuts (10K) from uninformed and poorly educated investors? Why aren't sophisticated investors like accredited investors, family offices and institutions chasing your deals? He's a ******** sales guy. Any sophisticated investor would see through is aggressive used car sales pitches. Anybody can buy assets at list price with the dumb money and offer 4% to investors(which is what he was doing.. check out youtube videos from his victims).
13 Reply
John Collins
Investor · Tx, GA · Member since 2019 · 313 posts · 337 votes
6y
Originally posted by @Account Closed:
I think he's a blowhard. Think about it. If you are really such a hotshot investor why do you need peanuts (10K) from uninformed and poorly educated investors? Why aren't sophisticated investors like accredited investors, family offices and institutions chasing your deals? He's a ******** sales guy. Any sophisticated investor would see through is aggressive used car sales pitches. Anybody can buy assets at list price with the dumb money and offer 4% to investors(which is what he was doing.. check out youtube videos from his victims).

We are in a time , due to the internet, where people want relatability over substance. They don't care about a bald accountant telling them what they need to do, they want an ed hardy shirt and a bottle of dom perignon on a private jet with a social media account. That is the way for today's mass manipulation and the herd was born to follow. The average american would rather sink with a blowhard who wears gucci than keep it real without the bling.

What is not a joke is that Cardone fired most of his staff without notice last month.
10 Reply
Will G.
OP
Rental Property Investor · Maryville, TN · Member since 2009 · 529 posts · 414 votes
6y
@John Collins, HA!
11 Reply
Katrina Moseley
Real Estate Agent · Tampa, FL · Member since 2020 · 5 posts · 13 votes
6y
@Anish Tolia
Up until this morning I had only heard his name. From this thread I watched the YouTube video someone posted of him explaining “bad news”.
I felt sickened. He’s not a person I want to be following and it felt very desperate and fear based.
2 Reply
Peter TverdovBusiness Member
Developer · New Brunswick, NJ · Member since 2015 · 1k+ posts · 2k+ votes
6y
He just always seems like a fool to me.
[email protected]732-289-3823
1 Reply
Joe SplitrockPro Member
Moderator
Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
6y
It is one of two things:
1. The truth. Highly unlikely because there is no way a bank will let you sell your leveraged assets for a dime on the dollar. The bank has to approve it. Secondly there is no way his assets lost that much value, because real estate has not felt the effects of the virus yet.
2. A joke. It could be sarcasm or an attempt to get media attention. Of course thousands of people trust him, follow him and even invest with him. Is it funny for a syndication to broadcast they lost all your money? Is it funny to joke about being on American Greed? Is it funny to joke about loosing everything, when countless businesses in America are going out of business and loosing everything?
I used to listen to his podcast, but I had to stop. He started just trying to recruit people for his syndication, "save $100,000 and invest with me". Or he was trying to get people to pay thousands for online sales classes through Cardone University. He does have good advice on sales tactics and his 10X goal setting strategy of aiming high is really powerful. Beyond that it is just his big personality trying to recruit customers.
Ultimately he is an attention seeker and thrives off doing and saying controversial things. It is not my style, but you can't argue how effective it is. Here I am on a Friday morning talking about Grant Cardone in the middle of a pandemic.
10 Reply

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