Grant Cardone / Cardone Capital

166 Replies

Originally posted by @Andrey Y. :
Originally posted by @Calvin T.:
Originally posted by @John Corey:
Originally posted by @Calvin T.:
Originally posted by @John Corey:

@Calvin T. There is a Reg A filing. Non-accredited are fine under Reg A

The registrations comply with the SEC requirements. Nothing is being hidden unless you are claiming fraud.

You referenced [credit] ratings or other designations. None would apply with a exempt registration or private placement. That would be comparing apples to carrots.

Competence is different and mostly a matter of opinion. Until Lehman failed, it was highly rated. Cardone is not everyone’s cup of tea. The beauty of the market is anyone is able to launch something and try something different.

Yes, I am aware of the losened restrictions passed.  Say what you wish, but a third party review from S & P, Moodys or similiar would be preferred.  It's an unrated untraded security.  Similiar to those Apple REITS. (I believe David Lerner had some liquidity issues too during the correction). Mr. Corey, you may be very well versed in securities law, but I am very familiar with it as well.  Cardone Capital is an unrated security which, in Wall Street terms, is junk and highly speculative (as stated in his prospectus).  You cannot even try to compare Cardone Capital to a Blackstone, Blackrock, Pubic Storage, Simon or any other real estate company/division which are regulated and rated by third parties to Cardone Capital.  Sorry, you may pull the wool over naive thirsty investors, but not mine.  Cardone Capital is so highly leveraged (again, as stated in his prospectus) that his company would be considered a OTCBB or penny stock. 

Not my first rodeo friend. I am well versed in private placements and raising of capital.  You learn these things being around for a few decades in the real estate business.

 None of the syndications discussed or referred to on BP, which I have seen, are rated securities.  If a PPM qualified to be advertised to the public, then people might discuss it. Still, the public registration under Reg A does not imply or require the instrument to be a bond with a credit rating. 

The PPM sector has raised something like $1T and they are definitely unrated securities. Always have been and nothing new there.

As to your language. This has nothing to do with wool over anyone's eyes. When logic fails, bring on emotion?

You brought up ratings and independent reviews by an agency. That tangent that makes no sense given how the market work.Bonds and PPM are not the same and you know they are not. To discuss rated bonds is a distraction at best.

As this platform is BP, bonds are not the focus. Bond characteristics, bond returns and similar are not the focus here.

Many or most BP members are close to you; A hands-on real estate investor/operator looking to make above average gains through direct, smart management. A minority of the folks here are looking for passive investments. Some want to move to being a GP and others just want passive because they are busy. Still, there is no requirement for the exempt security world to follow the bond marketplace when the two are not the same.

We are both old so age is not a trump card. Both have been in RE for decades. Size or age does not matter here. What Cardone's registration says or does not say is interesting. PPMs are interesting. 

If people want bonds and bond ratings, BP is the wrong place to have a useful discussion.

I think if you do some research on the companies I've mentioned, you will see they are rated securities.  Nonetheless, it's a mute point.  I wouldn't expect a person who worked on the offering to consider an objection.  Again, nothing against Mr. Cardone, but the offering is not for the faint at heart.  There is no emotion in this, just facts; at least from my end.

Are you saying that Mr, Corey has worked on Cardone Capital's offerings?

 Only Mr. Corey can confirm on that.  It seems that's how it was portrayed in his earlier posts, so I cannot confirm or deny.  Only Mr. Corey can. 

Originally posted by @Andrey Y. :
Originally posted by @Calvin T.:
Originally posted by @John Corey:
Originally posted by @Calvin T.:
Originally posted by @John Corey:

@Calvin T. There is a Reg A filing. Non-accredited are fine under Reg A

The registrations comply with the SEC requirements. Nothing is being hidden unless you are claiming fraud.

You referenced [credit] ratings or other designations. None would apply with a exempt registration or private placement. That would be comparing apples to carrots.

Competence is different and mostly a matter of opinion. Until Lehman failed, it was highly rated. Cardone is not everyone’s cup of tea. The beauty of the market is anyone is able to launch something and try something different.

Yes, I am aware of the losened restrictions passed.  Say what you wish, but a third party review from S & P, Moodys or similiar would be preferred.  It's an unrated untraded security.  Similiar to those Apple REITS. (I believe David Lerner had some liquidity issues too during the correction). Mr. Corey, you may be very well versed in securities law, but I am very familiar with it as well.  Cardone Capital is an unrated security which, in Wall Street terms, is junk and highly speculative (as stated in his prospectus).  You cannot even try to compare Cardone Capital to a Blackstone, Blackrock, Pubic Storage, Simon or any other real estate company/division which are regulated and rated by third parties to Cardone Capital.  Sorry, you may pull the wool over naive thirsty investors, but not mine.  Cardone Capital is so highly leveraged (again, as stated in his prospectus) that his company would be considered a OTCBB or penny stock. 

Not my first rodeo friend. I am well versed in private placements and raising of capital.  You learn these things being around for a few decades in the real estate business.

 None of the syndications discussed or referred to on BP, which I have seen, are rated securities.  If a PPM qualified to be advertised to the public, then people might discuss it. Still, the public registration under Reg A does not imply or require the instrument to be a bond with a credit rating. 

The PPM sector has raised something like $1T and they are definitely unrated securities. Always have been and nothing new there.

As to your language. This has nothing to do with wool over anyone's eyes. When logic fails, bring on emotion?

You brought up ratings and independent reviews by an agency. That tangent that makes no sense given how the market work.Bonds and PPM are not the same and you know they are not. To discuss rated bonds is a distraction at best.

As this platform is BP, bonds are not the focus. Bond characteristics, bond returns and similar are not the focus here.

Many or most BP members are close to you; A hands-on real estate investor/operator looking to make above average gains through direct, smart management. A minority of the folks here are looking for passive investments. Some want to move to being a GP and others just want passive because they are busy. Still, there is no requirement for the exempt security world to follow the bond marketplace when the two are not the same.

We are both old so age is not a trump card. Both have been in RE for decades. Size or age does not matter here. What Cardone's registration says or does not say is interesting. PPMs are interesting. 

If people want bonds and bond ratings, BP is the wrong place to have a useful discussion.

I think if you do some research on the companies I've mentioned, you will see they are rated securities.  Nonetheless, it's a mute point.  I wouldn't expect a person who worked on the offering to consider an objection.  Again, nothing against Mr. Cardone, but the offering is not for the faint at heart.  There is no emotion in this, just facts; at least from my end.

Are you saying that Mr, Corey has worked on Cardone Capital's offerings?

If he did, it would be a faulty assumption. I have not worked on any Cardone offering. And I never suggested I did.

Originally posted by @John Corey :
Originally posted by @Andrey Y.:
Originally posted by @Calvin T.:
Originally posted by @John Corey:
Originally posted by @Calvin T.:
Originally posted by @John Corey:

@Calvin T. There is a Reg A filing. Non-accredited are fine under Reg A

Re-read some of your first posts in this thread. 

The registrations comply with the SEC requirements. Nothing is being hidden unless you are claiming fraud.

You referenced [credit] ratings or other designations. None would apply with a exempt registration or private placement. That would be comparing apples to carrots.

Competence is different and mostly a matter of opinion. Until Lehman failed, it was highly rated. Cardone is not everyone’s cup of tea. The beauty of the market is anyone is able to launch something and try something different.

Yes, I am aware of the losened restrictions passed.  Say what you wish, but a third party review from S & P, Moodys or similiar would be preferred.  It's an unrated untraded security.  Similiar to those Apple REITS. (I believe David Lerner had some liquidity issues too during the correction). Mr. Corey, you may be very well versed in securities law, but I am very familiar with it as well.  Cardone Capital is an unrated security which, in Wall Street terms, is junk and highly speculative (as stated in his prospectus).  You cannot even try to compare Cardone Capital to a Blackstone, Blackrock, Pubic Storage, Simon or any other real estate company/division which are regulated and rated by third parties to Cardone Capital.  Sorry, you may pull the wool over naive thirsty investors, but not mine.  Cardone Capital is so highly leveraged (again, as stated in his prospectus) that his company would be considered a OTCBB or penny stock. 

Not my first rodeo friend. I am well versed in private placements and raising of capital.  You learn these things being around for a few decades in the real estate business.

 None of the syndications discussed or referred to on BP, which I have seen, are rated securities.  If a PPM qualified to be advertised to the public, then people might discuss it. Still, the public registration under Reg A does not imply or require the instrument to be a bond with a credit rating. 

The PPM sector has raised something like $1T and they are definitely unrated securities. Always have been and nothing new there.

As to your language. This has nothing to do with wool over anyone's eyes. When logic fails, bring on emotion?

You brought up ratings and independent reviews by an agency. That tangent that makes no sense given how the market work.Bonds and PPM are not the same and you know they are not. To discuss rated bonds is a distraction at best.

As this platform is BP, bonds are not the focus. Bond characteristics, bond returns and similar are not the focus here.

Many or most BP members are close to you; A hands-on real estate investor/operator looking to make above average gains through direct, smart management. A minority of the folks here are looking for passive investments. Some want to move to being a GP and others just want passive because they are busy. Still, there is no requirement for the exempt security world to follow the bond marketplace when the two are not the same.

We are both old so age is not a trump card. Both have been in RE for decades. Size or age does not matter here. What Cardone's registration says or does not say is interesting. PPMs are interesting. 

If people want bonds and bond ratings, BP is the wrong place to have a useful discussion.

I think if you do some research on the companies I've mentioned, you will see they are rated securities.  Nonetheless, it's a mute point.  I wouldn't expect a person who worked on the offering to consider an objection.  Again, nothing against Mr. Cardone, but the offering is not for the faint at heart.  There is no emotion in this, just facts; at least from my end.

Are you saying that Mr, Corey has worked on Cardone Capital's offerings?

If he did, it would be a faulty assumption. I have not worked on any Cardone offering. And I never suggested I did.

 

Originally posted by @Calvin T.:

You can also hire him for a shout out here - https://www.cameo.com/grantcardone

Good lord...



that’s insane. People pay him $250 to record a 20 second video where he says “hello” to you? Borderline creepy 

 

Originally posted by @Jonathon Weber :

Putting money into funds like Cardone Capital is just about a place to grow money a few percentages a year. When you watch his videos the majority of the checks are under $100 or a few hundred. Rarely does he mention a check going out that is over $1k. 

Grant is a small player when it comes to syndication. There are funds out there by the big players that are in the billion dollar level. 

You can get better returns by investing in other funds but at the end of the day Cardone Capital exists to make Grant money and he does well at it. 


What other funds would you recommend taking a look at?  Thanks

 

@Joe Splitrock you hit it exactly right. Too many are awed by Cardone’s flash and haven’t followed him long enough to see how full of it he is. I listened to him a few years back and was inspired because I was already into apartments but now if he comes across my radar he just seems so fake. His numbers are always escalating and he’s getting rich off of suckers handing over capital and credit card numbers. He even sued a guy for making truthful videos about him just to shut him up but it didn’t work.

Originally posted by @Pankaj Sharma :

@Joe Splitrock you hit it exactly right. Too many are awed by Cardone’s flash and haven’t followed him long enough to see how full of it he is. I listened to him a few years back and was inspired because I was already into apartments but now if he comes across my radar he just seems so fake. His numbers are always escalating and he’s getting rich off of suckers handing over capital and credit card numbers. He even sued a guy for making truthful videos about him just to shut him up but it didn’t work.

 Interesting, can you share a link to those videos? 

I personally enjoy Cardone's books.  10X rule is in my top 10 of all time real estate sales books.  The podcasts aren't as much my cup of tea but the guy is a fantastic motivator and sales trainer.  You either love him or hate his guts.  

@JD Martin

I agree with you that just because someone is on the BP Podcast, doesn’t make them trustworthy. Everybody should always remember that Clayton Morris was on the BiggerPockets podcast too! So everybody should always do their own due diligence in analyzing any investment.

Personally i have never invested with GC but i believe he is legit. But i think he is still a big promoter and talker as anybody that big probably is. That is why we’re talking about him.

Originally posted by @Nelson Lin :

@Calvin T. It doesn’t look good for everyone who just tried to defend him in this thread over the last year

 Mr. Cardone is the present day P.T. Barnum. It's quite easy doing business and making $$$ when times are good. However, true leaders and business operators are one's who can weather the good times and the bad times. Mr. Cardone is a showman and loved to fluff his ego, and that is fine.

Let's see how it unfolds. I wish no one pain and hope he is able to navigate around his possible missteps and over-extension of credit.


In the next 10 days it will become obvious that he will not be able to meet his obligations for all his non-federally secured financing while his tenants aren't paying. It's only a matter of a few months until that house of cards will collapse. As several people have said here and on other threads about syndication: "Its easy to make money and look like a magician when the markets keep going up. When they crash, its a totally different story. INvestors at Cardone Capital don't have a right to ask for their money back before the 10 years are done and if the market is trash at the sales point who knows what will happen. I predict the current funds will not make it to 2021. I feel really sorry for all the unaccredited investors Cardone took money from.

Originally posted by @Axel Meierhoefer :

In the next 10 days it will become obvious that he will not be able to meet his obligations for all his non-federally secured financing while his tenants aren't paying. It's only a matter of a few months until that house of cards will collapse. As several people have said here and on other threads about syndication: "Its easy to make money and look like a magician when the markets keep going up. When they crash, its a totally different story. INvestors at Cardone Capital don't have a right to ask for their money back before the 10 years are done and if the market is trash at the sales point who knows what will happen. I predict the current funds will not make it to 2021. I feel really sorry for all the unaccredited investors Cardone took money from.

 

Do you feel sorry for the accredited investors Cardone took money from?

Lot of schadenfreude on this thread.  Whether the vitriol being directed at Cardone is justified or not I don't see how it helps anyone.  I do agree that the way he let his employees go was harsh and it will come back to haunt him.  I still enjoy his books.  Never was a fan of his podcast.  For my taste it is far too Wall Street/Boiler Room.  I have found that his books are useful for self motivating.  Never invested with him and wouldn't have anyways because I'm way too hands on for that.  Sincerely hope that anyone who has lost money with him finds some recourse.  Also hope that anyone who worked for him and was let go lands on their feet quickly.