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...

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Marisa Alvarez
Rental Property Investor · Clearwater, FL · Member since 2015 · 112 posts · 29 votes
6y
@Will G.
It was an April’s Fool joke and he proved bad news travels faster than good news.
Then he said: if you got and believed the bad news is because you are not traveling fast enough in your own life.
2 Reply
Matt M.
Specialist · Easton, PA · Member since 2018 · 1k+ posts · 2k+ votes
6y
He’s a douche. I’m so glad I learned how to invest by on-the-job training working for/with investors and seeing their triumphs and mistakes, and not falling for any of these “gurus” and their $10k programs.
3 Reply
Stephen SchottPro Member
Rental Property Investor · Cape Girardeau, MO · Member since 2015 · 26 posts · 16 votes
6y
I will say his Cardone University stuff has been pretty awesome.
2 Reply
Eli Geneus
Member since 2020 · 15 posts · 8 votes
6y
Grant's a smart guy. He got attention that he always talks about. Which will drive ppl to his YouTube channel, his website, his social media platforms. Say what u wanna say about his tactics, it worked.
1 Reply
Alexander FelicePro Member
Guy with Great Hair · Austin, TX · Member since 2013 · 2k+ posts · 4k+ votes
6y
He's obviously joking and he got a TON of publicity from this. Quite impressive!
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Calvin Thomas
Developer · New York City, NY · Member since 2015 · 812 posts · 718 votes
6y
He's playing with everyone. Late April fools by Mr. Cardone.
1 Reply
Ladè Baruwa
Rental Property Investor · New York City · Member since 2019 · 90 posts · 122 votes
6y
Its definitely a joke. Everything he does is for a reason.
1 Reply
Todd Powell
Rental Property Investor · Corvallis, OR · Member since 2018 · 840 posts · 1k+ votes
6y
@Jonathan Hulen great for masses, but for sure simpleton in RE investing. And Grant news was fake.
1 Reply
Matt Humps
Rental Property Investor · Marietta, GA · Member since 2018 · 29 posts · 22 votes
6y
@Anish Tolia this 100%.
1 Reply
Ralph Justiz
Realtor · Edmond, OK · Member since 2019 · 123 posts · 79 votes
6y
In the video he's says you can buy his 8000 units for 10 cents on the dollar. Who is going to believe that's real?
0 Reply
Sam Josh
Sunnyvale , CA · Member since 2017 · 373 posts · 362 votes
6y
@Eli Geneus
I take the opposite view. I think he had been losing face and credibility quite rapidly in the last few weeks after he let go his employees and then stopping paying his investors back. This video to me double accelerated that credibility decline.
1 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
6y
on the G 550.. if grant is like any other air craft buyer.. there are HUGE accelerated depreciation schedules for new airplanes so most RE guys will put little down as possible and finance as much as possible its not uncommon to put only 5 to 10% down when economy is ripping.. So i doubt in 3 weeks he went from everything OK to the bank has my Jet LOL

when i bought my plane ( not a jet) but brand new i wrote off 75% of the purchase price day bought it. And put a whopping 5% down.. so in that case it was 25k out of pocket and a 350k year one right off ..

So I suspect Grant did the same only plug in his numbers.. being in real estate he could do that I think . But if you do then you sell too quick you have recapture so thats why guys area always moving up in aircraft so they dont have to pay the tax man.. but when you start at the top of the food chain G 550 next up is a BBJ Jet ( 737)

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Steve B.
Engineer · Portland, OR · Member since 2014 · 1k+ posts · 1k+ votes
6y
@Katrina Moseley do you remember when this guy was on a BP podcast? All I could think was this guy was full of sh$t if not an outright liar. The most surprising thing was how inspired so many BP newbies were to “10x” their money. Experience, logic, and math be dammed!
The old school term for this type was “Confidence man”. It’s amazing what many people will believe if you say it with enough authority.
5 Reply
Stephan Kraus
Rental Property Investor · Las Vegas, NV · Member since 2017 · 134 posts · 93 votes
6y
@Jay Hinrichs
i may have to pick your brain on how that 75% depreciation works 😬🤞🏼
on another note, the plane has been apparently in fact listed for a while.. 🤔
1 Reply
Marco Bario
Specialist · Frederick, MD · Member since 2017 · 475 posts · 454 votes
6y
He was joking but I was an investor with him I wouldn't have been laughing.
5 Reply
Calvin Thomas
Developer · New York City, NY · Member since 2015 · 812 posts · 718 votes
6y
Originally posted by @Stephan Kraus:
@Jay Hinrichs
i may have to pick your brain on how that 75% depreciation works 😬🤞🏼
on another note, the plane has been apparently in fact listed for a while.. 🤔

It's called a Section 179 deduction. It's one of the reasons why many business ppl have jets. But the cost to operate them is crazy.

1 Reply
Will G.
OP
Rental Property Investor · Maryville, TN · Member since 2009 · 529 posts · 414 votes
6y
@Marco Bario exactly my view! If this "stunt" was for attention, how in the world does that reflect positively on him to be joking around about being insolvent, when apparently lots of people hold him in high regard.
1 Reply
Kristina Sparrow
Investor · Denver, CO · Member since 2013 · 69 posts · 54 votes
6y
A great marketing strategy to get people talking about him!
2 Reply
Tim Huffanaa
Virtual Assistant · LA · Member since 2020 · 2 posts · 1 vote
6y
fake news. I don't think is real news as always
1 Reply
Account Closed
Flipper · Friendswood, TX · Member since 2017 · 401 posts · 368 votes
6y
Grant is a liar- 100%. He is a fraud- 100%.
He tells others to not own their home, but he made his start in MF when he sold his personal home.
He admits he made his money on scamming people in the "idea" of success via his meetups.
He says things like "Not interested is a level of interest".
He sues people who expose him for being a fraud, and he loses.

"He is a great marketer" is true, but in the same way as cancer.
7 Reply
Tyrone Townsend
Wholesaler · Foley, AL · Member since 2016 · 5 posts · 0 votes
6y
@Dan Heuschele totally agree. All marketing is marketing. He has a way with words that plays on the psyche of the naive. He studies psychology just so he can market to effect.
0 Reply
Cody L.
Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes
6y
I've honestly never heard of "Grant Cardone" outside of this site. And I'm a pretty active investor.

I love scale, but I'd rather own 1000 units 100% then 10,000 units 10%. I don't want to answer to anyone or have to go and panhandle to buy deals.
11 Reply
Joe Cassandra
Rental Property Investor · Woodstock, GA · Member since 2017 · 517 posts · 772 votes
6y
He's more "follow how he does marketing" rather than "investment advice."
I give him props for the amount of content he puts out. He's putting out daily stuff.
But it can be tough as you never know when he's BS'ing and telling facts.
A few years back, he released a series on interviewing people (kind of like the apprentice) and it's actually pretty entertaining...and a bit cringey...to watch. But I admit I binged.
Again, don't follow his investment advice, follow his marketing...or just watch for entertainment.
https://www.youtube.com/watch?v=-ya8zcoI03A

2 Reply
Jacob Martin
Investor · Asheville, NC · Member since 2018 · 15 posts · 15 votes
6y
@Will G. It’s a joke. It’s in response to some Youtuber making videos about how Grant was going to go into foreclosure. He’s basically trolling that guy, though it seems irresponsible given how many investors he has that are likely to see that and get very upset.
2 Reply
Account Closed
Flipper · Friendswood, TX · Member since 2017 · 401 posts · 368 votes
6y
Apparently you need to be careful about posting the truth here about Grant.
My response was removed, without explanation.

Sad that BP is hiding the truth from investors to protect GC.
4 Reply

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