GRANT CARDONE ON HOW THE RICH AVOID TAXES, BUSINESS & REAL ESTATE MYTHS

my graduates from my school being forbes back drop back drop my drop back drop all right guys welcome back eyl this is a legendary episode you notice the backdrop is different a little different you should have done done that backdrop that you got to get a shot of that yeah yeah yeah let's go take the picture there for sure so you know legends only that's that's our model this year this is the legend's only edition yeah we did a lot of legends um mark cuban of course the legendary mark cuban yellow neil absolutely yeah wow dwyane wade wow garyvee wow percy miller master p he was in town uh saturday i was supposed to hook up for us yeah was that right yeah so so so this is right in the in that vein grant cardone needs no introduction but i'll give him one one of the greatest entrepreneurs of our generation ceo of cardone capital where we are right now very impressive studio on building thank you thank you for having us international speaker entrepreneur best-selling author at 10 i actually have 10 hex book i read that song yeah um real estate investor i mean 1.4 billion correct me what what's wrong wrong just cut me for 900 million dollars oh man yeah we're at 2.3 billion i got to go kill myself something just happened it's the worst sunday of my life [Laughter] so 2.3 billion yeah yeah 2.3 billion and mostly multi-family properties yeah yeah throughout the united states of america um hosted a 10x conference which is a huge huge huge deal yeah um i believe it is that's true and then you're are you the creator of undercover billionaire no i'm not the creator of it i was the star this year the second season of undercover billionaire for discovery plus oh so you gotta cut the hair off look just like you man people like that troy troy's in public so i mean we can go on and on but first and foremost thank you for having us thank you for joining us appreciate it you're welcome thank you guys for taking interest in what i'm doing yeah and let's get you guys the throne yeah that's what we have for you i want this to be the number one podcast show for business in the world your show we're close i'm gonna do what i can to to push you guys two steps away i appreciate it i appreciate it so let's get into it all right i wanna start with real estate right okay because you have an interesting philosophy on real estate most of the time we grow up and most people middle class people working class people yeah yeah the home is the biggest purchase yeah the biggest yeah investment yeah thing that they you know you work and you purchase on your equity yeah you can refinance you can pass it down all this stuff you say do not the home that you live in you should not buy that's right your home is not an asset that's right but you have over two billion dollars in real estate so you believe in real estate but you don't believe in your home no i believe a home is a place to live right okay it's a place to live you you want food you go get food you want a refrigerator you want to keep your food cold in a refrigerator you get a refrigerator you want a place to keep your refrigerator rent the house you could rent the refrigerator too if they let me rent food i would i just want to use it i just want to use it and move on i don't want to i don't want to be stuck there mobility the ability to move to go places on this planet okay uh like if you look at detroit if you were invested in a single family home on the wrong side of detroit in the last 20 years you lost your money look at hundreds hundreds of millions of people in america lost all their equity all their money being invested in 2007 and 2008 still people underwater in homes but what happens is see the banks okay this is the whole this this is why like the system is so corrupt okay it's and i grew up with a single mother and my dad died when i was 10 and the house was paid for they did the grandpa dave grandpa dave y'all know grandpa dave right don't buy coffee okay ride a bike to work don't don't use a car and and oh by the way the only thing you should borrow money for is a house it's completely stupid it's antiquated it is to really literally it's a corrupt system that is built to to create it's it's slavery because what happens is once i buy that house it's a 30-year mortgage i'm 27 years old i'm in that house i could be in that house until i'm 57 years old okay i should have taken that same five percent or ten percent now it's 20 and i should have taken that money invested in myself in a business me and a business can move it can move it can grow it can get big a house can't grow if it's 3 000 square feet unless you're going to spend more money on it's not going to get bigger and you're ever going to move it and nobody's going to come to your house and give you money no business has ever been done in a home so some of your viewers going to say oh yeah henry ford started in a in a garage and and steve jobs started a garage yeah but they didn't get rich staying there they left the garage they left the garage to go build a business and and so all i'm saying to you i moved seven times okay uh warren buffett's had one house and one car mark cuban mark cuban's never gonna say i bought i bought houses and that's how i became a billionaire no he invested in his business he invested in his idea he got better at his game so to me a house is a place to live maybe raise my family hopefully do a good job of doing that you know and it's a place to be protected but i don't have to own it i don't have to own it i can rent it and then every 14 months or every time the landlord's not treat me right i'm like you know what i'm out of here man i'm gonna go to a new deal maybe a new city a new place but your real estate journey right so you've gotten to this point of billions but it started it said at 15. and so i'm like 15. what was that process like when you driving around looking for homes was somebody that was with you and then what was that process up until getting your first home i know the single family yeah yeah but you said i'm never doing it again yeah yeah yeah so so what happened was the first lesson i got was at 10 years old when my my dad passed my mom had to sell the house the next week this was a home that was paid for in a good location by the way but she couldn't keep it up she was worried about the maintenance of the house she dumped the house she did the responsible thing she was terrified she had no money coming in and that was the day i learned about i almost wore my cash flow shirt today i should have cash flow is king man that the ability to have cash coming in without me having to work and my mom's the cash flow got stopped because my dad stopped okay my dad died right so she had to dump the house cash in the life insurance and start selling stocks that she had so she could accumulate cash and hold on to it she became a hoarder because she was scared a hoarder right she was scared so she was trying to just hold on to money we sold the house downscaled at that moment i'm like oh that house was not an asset that house became a liability for my mother because she couldn't maintain it property taxes electricity utilities and upkeep she didn't want that obligation in that liability even though the house is paid for she dumped it moved to a smaller house she should have rented that's what she should have done that way she wouldn't have been out any money and she had the mobility to move around the town as she she wanted to so i repeated that mistake when i was 28 years old because i was lazy i took three thousand dollars bought a single family home it was 78 500 bucks it was easy to get the loan telling you if it's easy don't do it the system is corrupt banks made more money on single family homes last year than all the owners of single family homes combined they make five or six percent every year as long as you have a loan they make five or six percent the realtors the realtor makes six percent when you when you bought it they make six percent when you sell it that means to buy and sell a home if you had a home ten years you would have to make six percent on the buy six percent on the exit and you have to you'd have to make 60 percent just to pay the banks back so you'd have to make like 72 percent on your money just to break even in a house deal and you were stuck in the same place for 10 years so i bought a single-family home rented to a girl named janet her and her sister rented it i think my note was 500 bucks uh i made uh the rent was 625 i made 125 a month i thought i was a genius until they moved out when they moved out i was like no rent income my my asset became a liability because they weren't there the real asset was the tenant so all of a sudden i had this house i didn't know how to rent it it was uh i think it was uh november in houston texas is getting ready to be cold and wet okay i'm not going to be able to find a renter i don't find a renter until february i sell the house get my money back basically i said i'll never do that again i say one door no if it's got one doe i say no come on okay one don't know i said don't be a one blow hoe and that's what i was i was a one flo ho i was basically janet's [ __ ] yeah because when janet left i'm like oh [ __ ] i got to pay i got to make the the payment yeah and so the next time i would buy a piece of real estate it was 48 units in southern california so i went from one unit i said i'll never do that again the mistake was being dependent upon one thing it's like having a business with it's like having a grocery store with one product you would never do that well having one stream of income oh one stream of income i mean have one white that's a good idea but yeah i mean one's harder not unless you live in utah that's a different thing i got a feeling you're not a mormon i don't know i'm just thinking so so all right so how do you so how do you scale from one home to your next property with 40 48 units because yeah yeah 48 48 48 units in one building apartment building so it was apart from zero 48 units so how did you how did that happen so so i just started studying i started to study every weekend for three years i went and shop real estate i knew what i had done wrong as soon as i did as soon as the check moved out i'm like dang dude buy more units don't be don't have one door one door is for a home you go in the front door and you go out the back door if you're in a bad neighborhood have one door close off the back door you know like there's no way in this house except the front door and so the problem with real estate would real estate or any business you want to have multiple pieces or products or flows of income right so i started researching real estate i would literally i lived in houston texas and i would just go shop real estate every weekend i'd walk the property look at it two units four units six units eight units 20 units started doing the math on it and just until i figured out oh wow i can do this you know i can figure out how to buy 48 units 48 units is actually easier to buy than two or three why is 48 units easy to buy in two or three the bank treats 48 units that collect a thousand dollars a month at each unit to be a business okay they understand uh i'll give you a perfect example i can go to bank of america and say hey lend me money uh lend me a million dollars to buy a bank of america stock they will not lend me a million dollars okay on a bank of america even if my credit is good yeah they will not do it i don't care who you are for their stock but if i go to them with a million dollar real estate deal and say hey lend me a million dollars in this real estate deal they'll be like we'd love to that shows you the value of a bank stock compared to a bank feeling like this property with 48 units during covet churches were closed strip centers were closed bars were closed restaurants were closed that mall was closed right over their avatura mall like america was shut down not one apartment building in america was shut down because people have to have places so how do you how do you what's the approval process for commercial buildings as opposed you said it's easier so you have to have cash reserves you have to have cash you have to have cash and you have to have cash reserves and you got to have some credit but most importantly you need to have some experience so but that time in between i know it was like a five year span before in that first single family it was three years three years yeah yeah again so this is like a i think it's a 1.9 million dollar deal that deal was uh one point man didn't even recently [Laughter] the same stuff like i can hear you guys are willing to bring new ideas to your audience and you got to look at america like i'm looking in america right now because i i looked at i looked at my dad and my mom my dad did everything right yet when he died my mom was my mom was hustling she was scared when she should have been in grief she was in fear and she's having to dump stuff man when you're a widow you should not be having to sell stuff you should be in grief and she couldn't she's like i got to sell that i got to get rid of that i got to collect my life insurance she had five kids to raise and nobody trust she had no education she did not know anything about money so she made some moves that that were defensive but not good for her so when i sold that first piece of real estate i'm like i did something wrong here real estate's not the problem it's what did i do wrong in the real estate i had one door so i started doing the research every week back then there was no internet where you go check how do i buy 48 units okay so i started asking people that were in the game tell me what i need to know tell me what i don't know tell me what's a good location what what is cash flow uh how do i get a loan you need about 25 down to do a loan um so i started saving money i started like okay i'm gonna put money down what is 48 units going to cost me you know it's going to cost me about at that time it wasn't a lot of money it's like 4.8 million dollars you could buy 48 units in california i'm like this is crazy right looking back you'd be like i'll buy one of those too you guys would do that right now right now so what do you need to figure out you need to figure out how do i get a loan how do i get the down payment and how do i get the experience to tell the lender i'm a manager the most important part is the manager it's not the credit and it's not the down payment okay so the first thing i had to do was i had to get a partner so i went and found a guy that knew real estate and i'm like you i'll do the money okay i'll sign you be the guy and i'm gonna give you a piece i gave him 25 of the upside of this deal because i needed that i needed that that guy i needed that what do you what do you call it uh uh somebody told me the other day i needed the cred i needed the uh huh the receipt i needed the receipt man i never heard that word what is the receipt man you know so exactly i was i grew up with black guys he's like i need a receipt show me a picture the point is i need what do i need oh i need a management experience because the bank is not going to give you a loan if you have good credit and the money they're going to be like can you manage that 48 units those tenants the bed bugs the roaches uh the tenant balances the evictions can you do all that okay i had my guy he did that and i gave him a piece to do it then i need to figure out how do i get the stack okay look there's no shortage of money on this planet you guys know that right right dude like just like if you got this mental thing that says there's a shortage there's more money on this planet than there are people more money than there are phones more money than there are model jets there's more money than there are books there's money they just print money man money is manufactured your mom and dad probably told you money doesn't grow on trees no it's printed on a damn machine and put it in factories so there's so much money you just got to figure out how do i get that money and so in that three years what i did was i found what my target was i wanted a certain amount of units i knew my deal was going to be my next deal would go from from from 300 or what 100 uh what did i buy that deal for nothing right 97 000 or 78 000 my next deal was going to be probably one or two million dollars and i just started stacking in that period of time stacking the cash necessary to buy the deal calling on people getting money putting the money away storing it every time i could store it i just put it off the side that that's going to go to that deal and then i started trying to learn about what is the right deal so i don't lose money so i get cash flow and so i can get maybe so what's a good deal for you now like these days you still look for real estate you still do multi-family yeah you said a good deal so what is a good day well well a good deal i mean a good deal is a good location you know i mean i buy massive deals now these are big big deals no no more 48. so what's a good deal on a massive deal what's a massive deal yeah i mean i just took it yeah i mean i did a deal in december it was 165 million dollars one deal okay so what's that what's that deal look like that deal looks like uh that deal looks like 65 million dollars down i financed 100 million bucks i had three banks that wanted to give me a loan these are all things you're looking for i want multiple banks wanting to lend me money okay i don't want one bank i don't want one one guy saying yeah we'll give you a loan but two other banks say no if three banks say yes that's a good deal okay number two it cash flows the month the first month i own that deal i want to check back i want to check every month i don't want to check every quarter i want to check every month i don't want to check 10 years from now dude i want that paper back today so i give you this i go to work i want to be paid and i want to be paid this month so number one i want a great location i need it to be a big deal the bigger the better you know i want to know if big big big is easier than little you know and and uh i want it to cash flow i want multiple banks to give me a loan and uh i want to know lastly who am i going to sell it to when i buy it i already want to know how to exit when i bought it so you got your action strategy before you dude i know i know that there's good i know the five buyers that will that i can call on the phone and say all five of you bid on it you've already communicated with them i know who's going to be a player on the deal on the way out so how does that process work when you get and you can't know that when you buy a house on 20 21 20th street no problem so you're selling you're selling in a market you're selling to people that that are economically driven see i never want to sell to somebody that needs the economy to be good i want to sell the people that have too much money i want to sell to people that have so much money that money is their biggest problem and they gotta find things dude they have to spend money like i i'm gonna i'm gonna put a portfolio together you just learned the deal this is where i went one house i bought one house oh wow who am i gonna sell it to then i had to find somebody who could pay me 70 81 000 for the house guess what's the problem with that he's got to have a job he's got to have credit he's got to have a down payment and he's got to want to buy a house from me that's a problem for me because what if the economy [ __ ] you know what if he lost his job so i'm like okay i'm gonna go buy i'm gonna go buy 48 units about 48 units for 1.9 million dollars it was a freaking screamer deal like once i bought the first one i got cash flow it was like it was like i had a job without a job and then when i went to sell it the guy that was buying it from me was a doctor and he started getting all you know doctors if you've ever done a deal with a doctor they know how to charge they don't know how to pay okay they all get anal like too much doctor time too much probing they're like oh what about this what about that i'm like dude what's wrong with you man you got a good practice or not but they're cheap they're cheap so i was selling to a guy that's cheap and and i'm like okay i got to learn this game i don't want to sell the people that are economically imprisoned i want to sell to the goldman sachs and the black stones of the world you you can't start there but you can level the game up to play there uh because blackstone has more money than it can actually put to work yeah so i i'm in my mind wondering how this process works when you're using three banks at the same time is it like are they working in separate entities or they're saying like yo we'll give them 50. this will give them 75. yeah no you never no i i mean i mean three banks that all want to lend me money on that deal oh just okay they're competing for one service oh not three loans okay i got you no i don't i don't do this okay so you said you said i i saw on instagram you're 900 million dollars in debt something like that what's going on earners welcome to eyl university the number one place for business education shall we tell them what we're bringing yes ewy university already has over 100 past webinars from all areas of business it includes weekly webinars from industry leaders it includes access to our investment facebook group movie club our book club it also includes access to monthly financial planning calls with yours truly but what has been added has access to mg the mortgage guys home buyers blueprint over 14 hours everything you need to know as far as the home buying process is concerned and also what has been added is access to our monthly group chat call so once a month me troy and the whole team is gonna let you in on our personal plays our portfolio what we're doing and more so all of that we are running for a special promo code of 70 off for a limited time only so head to eyluniversity.com right now and take advantage you know this works don't wait don't hesitate we'll see you on the other side no i'll probably have a uh maybe one why keep cutting me man this is what you said this ain't this ain't grandpa dave's like all dead is bad dead you're dumb dude you're dumb there's not a country on this planet that doesn't use debt including apple computer apple computer has two 196 billion dollars in cash today they will borrow money tomorrow morning debt is good some debt is good debt and there's not a wealthy company on this uh planet not one wealthy company on the planet earth that is cash free that does not use debt good debt because debt is so cheap today so uh you got companies that borrow money to buy their shares back right so so dave is just playing a little game he's a little man he's playing a little man's game okay it's a little man it's an old way of thinking and it appeals to millions and millions of people that are like i want to get out of debt i want to get out of debt i don't want to get out of debt i want to create wealth and the way to create wealth is through debt so but do you ever worry about over leverage like we saw in 2008 when the real estate market crashed the stock market crashed a lot of people i worry about i worry about too too much debt okay so how do you how do you hedge that to make sure that you're still positioned even if we have i got i got one 1.4 million dollars 1.4 billion dollars worth of debt but i got 2.3 billion dollars in assets so i'm not i'm not even close to overlapping you know whatever no no not not like like i'm i'm maybe 60 percent okay and the debt is cheap the debt is under three percent i pay interest only i don't even pay the mortgage down so basically what i'm doing is pre-paying my mortgage massive amounts of mortgage i'm paying down in the beginning so it stays stable my debt stays stable and the asset goes up in value so like like a house you see the problem with a house and you shouldn't even have this comparison a conversation because if i buy a house for let's say the house average house is about 240 000 in america and i put five percent down you're probably over leveraged right there why why would they give me that loan and the house doesn't provide any income well you know what's interesting we spent this we spent the summer in l.a this is the same conversation we have i'm a financial advisor by trade so um i was telling him i was telling him and my friend jamal and i'm like you know what i was thinking about it because we we're having the stock market i know you're not really in the stock suite yeah yeah i'm not a paper guy well yeah we have in stocks and i'm like you know because i see people that i work with the financial advisor that might you know they might have like 200 000 of cash to their name and they're buying a home and they're using like 70 80 000 down yeah and then they gotta put another twenty thousand get their kitchen fixed and then they gotta like borrow from their 401k and it's like yeah yeah yeah and they got to go buy some furniture because now they're hooked in yeah so it's like you don't really have enough money you're you're like him you're depleting and then it's like you don't have enough money to invest so i was saying like yeah if you actually just rented a place yeah and use that money in the market in the stock market you would have more money so obviously everybody's situation is different but when i was telling him that they was kind of going back and forth with me they didn't fully agree with me but i'm like well they're wrong well it was like they're telling you that's part that's part of the story the other part was like it depends on the situation right so if somebody's handed it home then it's different but most people aren't handed home some people are so that's why i know even if you're handed out you don't want a home handed to you man god damn like like just somebody gives you a doughnut doesn't mean you want to eat it you know what what did they gave you what did they give you an eight ball like here here do it all right like just because they give it to you like like you know you go out to the club and somebody wants to give you something you can't get rid of like like i don't want that not all assets or become like can become liabilities children become liabilities like my two kids are my biggest asset but the truth is if you don't share this anywhere except you're small nobody's listening nobody don't worry about that okay if somebody threatened my kids like i will give all my gold away like it is my biggest liability is the threat of my children if somebody would do something to my kids that's why i say all assets become liabilities at some point yeah you see what i'm saying so so when i go buy that one house in in los angeles which is going to be 500 000 right small house in los angeles small houses [ __ ] yeah it's all right what part of the life and you better carry what i got in my bag you got to put 100 grand down since cobid that's a 20 down payment that whole percent game's off the table now for everybody yeah so now it's 20 down am i right on that uh mg mg huh what what where can i get a five percent loan today oh man you ought to check man take a little cobid check okay you got that mask on right now he's our mortgage guy he's out here mortgage broker okay any bank in america what what if i lost my job during code bid i was awful excuse me okay that's 40 million people the game just changed for 40 million that's now a 20 down payment 40 million people in this country lost their jobs okay that's nine percent of the population like that's a massive portion of people but and then if you didn't lose your job they're going to look at that job and say okay you work over at cardone enterprises was anybody let go did you guys get cut like a lot of people got cut the banks are scared right now they're terrified of these home loans so let's say it takes whatever number you want to use you wanted to use 25 000 down that's five percent or it's a hundred thousand dollars down okay either way you had a you you're tied to a 30-year mortgage you're going to pay what four percent right now 2.1 2.8 two and a half percent ten years you're gonna you need twenty one point five percent just to pay the bank back you need a twenty one percent gain on that house in california and and another problem is that the vast majority people don't make enough money to actually support their mortgage payments because they're living paycheck to paycheck so if they're making like even ten thousand dollars a month and their mortgage payment is four thousand then you gotta pay insurance and you gotta pay for your kid to go to school and property taxes and they had to pay the little uh uh the little what's it called the little cause they only put five percent down what's that jack fee pmr or the pmi so you know if they use abbreviations they're [ __ ] you know i'm just saying yeah you know it was real estate it was perfect the way it was when they added the i.t investment trust at that point they [ __ ] you right there i'm just saying every time they start doing the acronyms they jacking you yeah so but so i i agree with a lot what you're saying and i mean everybody a lot of people have said like that's why you should buy multi-families when you have some level of cash flow because if it's just a single family home it's not really technically it's not really an investment and like i said for the vast majority of people they're kind of doing it wrong and they're struggling and they're just like working just to pay their debt yeah and if this is a good deal by the way if it's a good deal then once you go buy four of them because you get the same loan and then you got four people paying you rather than you paying it so like i mean i could slice this thing so many different ways if this is a piece of real estate i'm going to be limited on my interest deductions right to what uh 700 do you know what my interest was last year on 1.4 billion dollars i don't even know what the number is too many zeros involved but like let's say i paid three percent on 1.4 billion that was 520 million dollars in debt interest payments you can only write up up to 750 000 guess what i wrote off the entire 520 million in interest payments all of it i want to put on a new roof [ __ ] write that off too i want to put on new doors right because it's commercial you can't do that on a house you don't get any of the game you don't get the leverage you don't get the wealth game and you don't get anybody paying your paying your rent all this real estate that i bought i rent where i live right nope right now and nobody people come over my house have drinks with me they're like do you rent this or do you own this nobody asked me that there's a party yet okay nobody yeah nice place nice watch and by the way i paid for this watch with real estate real estate bought this watch that that's that's a house right there you know and i don't i i'll tell you a little trick with money man i am the i am the tightest and smartest dude there is on money like if if if it's not passive income if i cannot buy it with passive income i will not buy it like if i go earn money 500 grand i would never spend 500 grand i take the 500 grand invest all it if the investment can buy my richard i'll buy it okay i have to build about two of them guy came to me about to watch he's like it's number 10 of 15. i'm like okay hold on i think i like it hold on but let me talk about that can i buy number one do we have enough passive income to pay for it number two can i buy two of them right now in cash and number three do you still know this is stupid yes i do and and number four dude uh uh if you got two of those checked off you could probably pull the deal off can i write it off no i can't write it off okay it's stupid let's do it anyway so is that what you came with the mentality like i i read that you said look i always try to go bro as soon as i get the money i gotta put it up trash man cash is trash cash is garbage it is garbage it is manufactured fiat it's got a white dude with a balding head and in god we trust there's so many lies on on a hundred dollar bill it's unbelievable it's all lies and tricks and gimmicks and and pulling on heartstrings and trying to get people to convince do you guys really believe god's got anything to do with this piece of paper huh come on man please we trade in time for pieces of paper all a bunch of in god we trust 100 the united states of america what's it worth you know we printed 21 of all the us dollars in circulation they were printed last year not in the last decade last year so that dollar that dollar is after last year's worth about that so this is trash you lose it the banks tell you to save it save it man save the money save the money as soon as you give it to the bank they freaking push it out into the marketplace 97 times so they got to keep three percent of their reserves they push it out 97 times they don't even do what they tell us to do right save your money and then they tell us buy a house the banks are the ones that sold us on a house okay we eat you eat eggs and bacon for breakfast because somebody came out with a program that said breakfast is the meal of the day and that saved the pork in the chicken industry and farmers around the country we're being lied to every day man 76 percent of americans live paid that paycheck to paycheck and most everybody is playing the game by the rules okay it's like it's like going to vegas that's when you get hurt you're playing by the rules yeah and you're playing by the middle class rules poverty is not the problem in this country it's the middle that's the real problem it's got 76 percent of americans live paycheck to paycheck they're buying houses they're buying life insurance they're dabbling in the stock market they're they got ira accounts and 401ks [ __ ] live programs see your money in 40 years it'll be here for you when you get here it's stupid man yeah it benefits wall street it benefits the banks so let me ask you this you don't you don't believe in the stock market i don't understand it man it's just it's just too complicated for me man think so it's like look at all the acronyms man too many tickets wall street journal and then you show me a picture of a casino it looks very similar to me roulette wheel cracker jack poker machine black jack five dollars ten dollars 25. uh you know it's just weird to me like they won't lend me money there like the banks will send you money well you get a margin account oh you can get a mark but you had you had to go take a steak first or you could put something because now they net collaterals okay now that because now they want to pull it back from you okay the whole thing about liquid we all been taught stay liquid yeah is that really good see as long as you're liquid man i can get your bag going on y'all gold fuel has completely revolutionized the energy drink market it's formulated with clean natural ingredients and is the only energy drink to use cordycep mushrooms cordyceps help your body use oxygen more efficiently and have been used in chinese medicine for thousands of years not only that it's been known to help boost the immune system and reduce inflammation so if you're looking for an energy drink that matches your style and represents your hustle drink gold fuel it only makes sense click the link below and use our promo code eyl 20 to get 20 off from one goat to the next cheers family as long as you're liquid if i look like if you guys just open your minds a second and and think man can this many people be this stupid like can this many people be stupid you're working your asses off you do exactly what they say i'm gonna save my money i'm gonna buy a house and we still don't get ahead because we're not making the wealth moves man warren buffett owned one house and one car he took all his other money invested okay elon musk he he cashes out of paypal never owned a damn home in his life okay one of the richest people in the world cashes out of paypal with 180 million dollars invest the entire amount in three businesses the next week and then rented an apartment and we're saying yes sir mr musk let's go to mars so you just have to start if you when you see this many people trapped you can't say these people are stupid okay you got to say what's wrong i saw myself for 20 years from the age of 25 to 45 not getting ahead okay 2008 hit and i was like oh what happened what happened was i had played by the rules i got trapped by the rules i did everything exactly the way i was supposed to do it and it and it's just the wrong set of rules so there was a mindset change because i mean i heard you say this about the this book that we both read the millionaire next door yeah and i read it and my perspective was like wow people that make that much money are cheap right they they don't exactly they're conservative with their money and that's how they keep it and then i heard your perspective and i was like oh yeah yeah yeah that's a different way to look at it yeah yeah and i was like yo his mindset is just different right yeah i don't want to be a millionaire when i read the millionaire next door that was the last time i ever took advice from a million millionaire i'm like i don't live like that that's stupid buy a used truck right right if a used truck or a new truck gets unaware where i want to go i'm done already you know don't buy coffee this four dollars if four dollars sinks you you are [ __ ] up okay you could you could do this all day every day as long as you want you see this is the this is the environment i was brought up in my mama was clipping coupons she had a drawer where it was coupons the whole drawer you could not it was the sacred drawer did you guys have the sacred drawer at the house it was a sacred bag so and and she knew when the sales were and she knew she you buy low and you sell high that is not how you create wealth you do not create wealth on defense you create it on offense so use in the car industry not a lot of people know that yeah yeah my man mike actually took your course he used to sell cars big mike mike so got a new name for him we got a new name for him what's he doing now man he's he's with us okay okay yeah so so uh he never smiles or is it the mask he's smiling right now look i hated the car business man you hated the car business it's the only job i could get i got out of a treatment center for drug addiction okay and i from the age of 15 to 25 i was addicted to drugs what drug were you addicted to what you got name it whatever you got what drug you got uh so we're talking like 1980s yeah yeah crack whatever what you got okay oh did cracked him did everything yeah so so it was terrible dude it was terrible like i was 130 pounds there's nobody yeah maybe maybe maybe spec without with all his medals it so i weighed 131 pounds that's 50 pounds less than i weighed a day i was my my color my skin was gray man like yo i was a mess but how many years 10 years 10 years yeah 20's i was a mess had 70 stitches put in my head and face was beat up with pistol whip with a 45 caliber so how did you that's interesting when i got to the treatment center the only the only place i could get a job is a car dealership how old were you when you got a car dealership situation uh uh 23. so i was in a car dealership at 23 and i left the car dealership um went to treatment and when i came back they took me back so all right so you had substance abuse issues for your whole teenage life yeah exactly yeah until you was like early 20s yeah you're going to car business how do you grow the car because you became pretty big and you became really big in the car business so i what happened was i had a job i hated you was selling cars yeah yeah and i hated it right i hated the way people looked at me if i wanted to go on a date and i told a girl i was a car salesman she wouldn't take the day right everybody hates a car salesman right so right mike now i hate you now so so um and uh and i had a college degree man i finished college with a drug problem like i just squeaked through the college thing so when you get out when you spend five years getting an accounting degree in college car salesman is not the thing you want to be but but nobody would hire me so i took i kept the job and when i got back out of the treatment center i did not have the option in my life to go find a job i liked this has become a defining moment for my for my life i learned how to do one of the things i'm most proud of i learned how to lean into something i hated and it's a cool it was a really cool spiritual experience because the the very thing that i hated the most i ended up getting really good at and not only did i get good at it but it was like i changed it i became a guru in the space and i changed the way people sell cars so like today when you can go there and easily get a price and a payment and a down payment i'm the guy that created all that so you actually hated sales and just became the guru of sales from that moment i hated it and i hated all the trickery hide it don't tell them you know they play all these games in the car dealership mike you know you're still playing the game yeah yeah yeah so it was like don't tell them a price make sure they love the car work it out on their budget you know it was trickery and so i cleaned all that up and got very successful at and then i started teaching car dealerships how to do it that was my first business so you branded yourself started a side business yeah and became a consultant to cart that's right that's right doing your homework these guys so what did this entrepreneur spirit come from because i mean all right so you have a very interesting you know background as far as substance abuse for 10 years that's a long period of time yeah then then you become an entrepreneur like who taught you entrepreneurship nobody man taught yourself yeah i know trial and error you know i'm not self-made i don't want to say like i'm a self-made guy but like when i was coming up there was no courses you know so hey grant cardone here like i've done that cold call coco in cities like this show i just did undercover billionaire i knew i could do it i mean like when they called me and said hey can we drop you off in a city and you could build a million dollar business in 90 days i'm like yeah yeah they're like you think you could do it i'm like yeah but question is would i do it like would i leave my family right would i get dropped off into something and leave my my beautiful plane you know would i leave my cush lifestyle my nice cars my you know my gucci slippers man am i going to leave all my [ __ ] i got to leave my richard at home man i don't really need my babies man richie you know so am i going to do that like can i do it yeah could i would i do it different thing that's the hardest thing i've ever done i've done in my life on the call of millionaire oh 100 never do it again hardest thing i didn't mean to jump on you but yeah but so you know when i got in the real estate when i got i got fired from that car dealership and then i started i was forced to go out and start my own business i didn't i never had i want to be an entrepreneur i want to be a big business guy i was forced into this so then from growing that yeah you see that you see the value in business and now you're just going every different you going other different directions from there well when i was 30 i started the first business so i started this is how i started there was no internet no there was no social media there was no verified hey hey my name is grant cardone i would go off the cities i would go to san antonio i lived in houston at the time i'd go to san antonio hey my name's grant cardone can you give me five minutes click yeah i mean thousands of people's closed doors on me and that really built this skin that i have today this this thing that i have you know this my ability to stand up to for myself is it really because of thousands tens of thousands of cold calls so how are you scaling at this time right because there is no internet are we doing like publications and newspapers how are you doing just now never bought a publication i basically get on the phone i was in houston i'd call salt lake city i'm going uh on a saturday and sunday i get on the phone and still call them businesses friday saturday and sunday and on on sunday night i get on a plane fly to salt lake city and start calling on people hey i was the guy you hung up on yesterday will you take a minute and see me you're the guy man you'd have got to call back three times yeah i'm the guy i just man i just flew him from houston i want to come by and see the guy that keeps hanging up on me damn what did i do to you man okay come on in son that's 30 years old and come in i talk to him i can help the sales department i can show you something don't pay me any money don't give me any money let me just show you what i can do okay man go take a shot and then that's how i started doing that 30 to 32 years ago so who's the first business that you got that made that was the break and it was like you know what this is the deal that's going to change my life dude i was in utah i was in utah i was about to click you mentioned youtube yeah i was about to quit you got me in the morning shout out to you i can't even handle one wife dude so uh i was in uh i was about to quit because it was hard it's so hard one of the hardest things i've ever done is cold call businesses if any of you've ever cold companies it's the worst thing in the world i'm not call i'm cold-calling companies and um i didn't have a team doing it i'm doing it and then i would still go to the city and call on the very people that hung up on me so which was a you know that's different it's brutal because i'm thinking like at the time you're still paying for long distance we making these goals i was paying for long distance true story it's crazy like i get 200 bill i was terrified and uh had no money no loans it was all bootstrapped and utah was the fourth city i did and i had a breakthrough man i just it was everything just fell in place i'm like oh this is my gig and i i got so good at that i started making money as a speaker and and then three years into it my asset this business became a liability why because it was no longer it wasn't scalable okay so i got stuck in it i became i was on the road 250 days a year i didn't have a life i had money coming in but you couldn't multiply yourself i couldn't multiply man i didn't know you couldn't 10x i couldn't tell i was thinking about just hold on see i was still i was still financially uh illiterate because i knew how to get money i didn't know what to do with it and so i would just store it i would just put it off to the side i bought retirement accounts i know he loves that retirement again [ __ ] and i would get that i got an ira that was stupid i got a 401k i thought i was genius you know it was so stupid dude so let me ask you this taxes yeah taxes taxes my friend you this is what i'm good at i know how to play this this this this this is what i want to hear man i've heard you say is this a christian channel no okay good come on [ __ ] the ira tell him i said i i i think it's gonna be in a deposition one day i guess i said it tell them how you really feel i don't like them um so you said that i'm paraphrasing yeah yeah yeah don't hate the player hate the game yeah yeah uh you kind of don't hate it either win the game yeah win the game win the game you gotta learn how to play the game yeah yeah the clip went viral on instagram talking about how you brought the plane at the end of the year yeah yeah yeah yeah you know all this stuff man that's what we're here for bro that's what we're here for so give us the gain yeah how okay wealthy and rich people avoid paying taxes okay so first of all you to pull this off you have to accumulate money you got to get money you cannot do this without the bag so i say get the bag secure the bag okay and then you have to use the bag you cannot just like this was i made a reference to pablo escobar he didn't know how to convert the bag cash became his cash cash by itself is garbage okay the rats will eat it the the mold will get it it's just going to go away it's being depreciated every second of every day the greatest tax in the world is inflation it's a hidden tax so it goes down in value right they just print more so this this is its ability to buy things goes down in value because the price of things goes up so what what i do with money okay every day i get an account first thing i do when i get to my office is i look at my cash accounts okay the purpose yeah the purpose this is what i saw today okay you don't tell them i'll show it okay i see this okay that's sitting in cash i'm like i have to convert this to an asset not cash because this will just continue to be taxed so um there's a game in in in with the tax code there's certain things that you can buy a house is not one of them uh a car is not one of them there's a couple cars that you can actually write off if they're heavy enough over 6 000 pounds yeah yeah so you know that's why george bush did that by the way don't hate on george okay he's the one that pushed that suv through there because he was tied to exxon so they're like please keep the suv going incentivize it with taxes and that's how they keep the game going the 401s and the iras those are incentivized not for us they're incentivized for wall street pay people an incentive to make sure they push their money to us and we will own and control that money for 30 or 40 years on wall street and they can hope and wait for retirement i'm telling you it's a scam i'm not a conspiracy guy it's just obvious right so there's certain parts of the tax code when they write it if you study it that allow me to go do things that takes advantage of the tax code this is one of them okay so that that plane if you can afford to write a check for that plan or get a loan for that plane that plane's brand new 61 million dollars okay so so at the end of what year was it by the way the irs will see this okay okay here it is here it is it's the truth that's how big the code is and that's how legal this is so at the end of the year i had this big major tax bill my accountant calls me and says look you're going to owe x i'm like okay what we're going to do about it there's nothing you can do about i've looked at everything everything the accountant says everything has been looked at i'm earning my money right bro something can always be done about it like i have used this for 30 years there's always something you can do about something and the moment you throw into talent says you can't do anything you just quit so something could be done about so i started researching i'm like i could buy a plane i could buy a plane wipe the whole thing out this year the following year and in the third year from now so i called gulfstream up and i'm like hey you guys got a gulfstream 550 no we don't have any they're sold out for two years okay so call them a second time you gotta go stream five bit no no we sold out for two years called the guy back in can you find me something come on man i got 14 days till the end of the year he's like grant if i could i would i want to sell you a plane it's going to be two years so i went to my ceo i said why are there 60 million dollars why gulfstream 60 million dollars right now she sends the wire hits the wire boom they get it i call rick up rick go to your accounting department okay i've done this more than once to people so call your accounting department and and uh he's like oh my god nobody's ever done this before can you find me a jet rick hold on one second cause the president of company they're like we found you a jet they delivered that jet with three days left in the year i wrote off the entire jet that year so you order off 60 million yeah oh my taxes i wrote off what we agreed on okay which was less than 16. less than 60. okay now the point of the story is if you can pre-pay into the future with assets uh like last year i bought millions of dollars of media for 2021 and paid for it in 2020 to reduce my tax bill in 2020 to zero media uh advertising okay so like that show i did on discovery undercover billionaire my ad comes in at 30 seconds okay okay it's a 30-second ad i paid them you know a million dollars in december so just for the whole i wrote it off for i wrote it off for last year yeah to reduce my taxes you paid in advance for this year and it's already paid for going forward it's like if somebody wanted to run an ad on your legion they would just dude dude just dump it man they ought to dump it like at the in december we start calling people man pre-pay for next year so when you paid 60 million for this jet how are you using it for the next three years is because the maintenance of it no no so well so i own the jet right the jet's mine so what i'm doing is is let's say my tax bill that year was 30 million yeah my tax bill went to zero right this next year i still had 30 million left to write off my next year income got you so the game is just so everybody understands like my job my goal is to reduce my tax bill to zero or below every year i don't feel bad about it anybody hates on me because i don't want to pay taxes hate on me i'ma figure out how not to pay these fulls okay on the other hand i have a billion two billion dollars worth of real estate that i pay taxes on every year that's 40 million in property taxes i have 500 employees i pay taxes on these people right we produce and buy a lot of things i'm paying plenty of taxes there's like how many different taxes are there income taxes state taxes purchase taxes capital vehicle taxes capital gains tax get sick taxes die taxes estate tax argue taxes estate taxes yeah i'm like every time i look around they're trying to tax me so your goal is to pay zero taxes dude play the game play the game i told you if i could ever become a diplomat talk about the keys i sell everything i have can you talk about that yeah sure so so so the reason these guys take can we rephrase it yeah mr ambassador can you talk about that i took the job because i don't really care about the dominican republic i've been connected to the dominican republic for years on when i was in a cruise line or once hey there's the dominican republic when a guy gets a job in a cabinet position with the us government okay like the guy that did last year his name's tillman or something with exxon he left his ceo job he had billions of dollars worth of assets if he cashed out everything he had he would have paid hundreds of millions of dollars in taxes instead he took a job on trump's cabinet at that moment they wipe out his tax bill he can sell everything and walk away walk away with the bag and that's only why you're actually a diplomat no no you're good perpetuity well no he's good he no no i don't think it's perfect like while you're actually right but he'll cash out at that moment he'll now rather than having let's say he had 5 billion rather than having half that he has 5 billion to work with because he would have probably paid half that in taxes he has a whole 5 billion to work with the rest of his career he's saving 2.5 billion even if there's to stay is and i think he was reading three years or something you know got all this power all these connections the point is everybody needs to learn the games man don't hate on the game don't hate on the player that's the real diplomatic community yeah exactly facts exactly so going back to real estate do you feel like it's a real estate crisis about to happen you you talked about how many people's out of work i think there is a real estate crisis about to happen who's going to hurt it's going to hurt single family homes not multi-family in the middle in the middle not multi-family no well it's going to it's going to dude everybody like you said in states like new york right yeah you can't you can't even kick somebody out you shouldn't be in new york i've been telling people for years man you got to stay away from places where you don't own the property like you don't own the property you don't own it if you owned it you can get people out of your place like my house my kids start acting up i kick them out i'm like you guys got to get out of here now okay the moment the law says i can't kick my kids out i don't own the house anymore they do same thing with the tenants so you guys that own homes i mean i know a bunch of people in new york that own stuff they're scared right now the banks are scared up there because if i can't collect the rent i can't pay the mortgage and then what happens is the whole neighborhood goes down when the shopping center down the street goes blank because nobody the beauty salon the restaurant the bar aren't open it hurts the whole neighborhood everybody gets brutalized by this so i like i just i lived in california 25 years i left there when they started their foolishness of raising taxes i'm like when they raise taxes they should have lowered them if they had a lower than people they rolled in there and spent more money but um so you got to invest in real estate where you're protected well you own it you can control it the tenant the landlord the owner of the company landlord friendly states landlord friendly where they they respect property ownership so that was that was your strategy because i know you've invested in multiple states you're going into it thinking like yo i need to be in a state where i'm protected as an owner 100 okay property protected uh landlord friendly taxes friendly look where i'm invested florida texas alabama southeast all that northern all that ice those ice states are all going to migrate this way it's happening now yeah and a lot of companies and corporations are leaving too oh yeah so 10x let's talk about the 10x conference right you have a vision the biggest man tonight's conference is like a rock star you've turned into a financial rock star of sorts and you have like 20 000 people 30 000 people you're bringing rick ross and kevin hart out and snoop yeah it's a whole it's a whole situation uh sure oh sure come on man keep driving you drop them i don't have to so what's your floyd mayweather floyd shout out to floyd steve harvey we need him on the show steve harvey you know another guy i mean some freaking like so what's the what was the plan what was the plan in putting that together that you say okay i don't want to just do a financial literacy tool i don't want to do it i want to do mix all of these different things and like how does that come in i want to erase the line between entertainment and business because i think that i think that you know my wife's an actress right and and i said you got to get out of this actress thing and she's like well that's what i am i said you need to get out of the acting thing it's a garbage business you need to get on this side and she's like well you're a businessman i said no no i'm acting like a businessman okay because ain't no money in action so so i'm out of the acting thing i'm gonna be a businessman and i'm gonna make us famous because because i think that money follows entertainment and the problem with education is education is terribly boring and nobody wants to watch it i mean grandpa look at grandpa okay grandpa said i should okay because he's a tool of wall street sponsors are wall street driven in big pharma you know save your money son save your money save your money save you money save you money save your money i don't want to save my money dude i want to use money money is useless until it is used so i told my wife 12 years ago i said look quit that damn career i'll make you famous and boom facebook and instagram and youtube she's like how are you going to do that i said look look at all this we're going to do it and then when i got into a position where people started paying attention to my message i was able to start bringing some of these super superstars together and they resonate with the idea of financial literacy have fun entertainment and education so was it was there i mean you have a vast list of people that you interviewed was there an entertainer that surprised you with how much business savvy that they actually kevin hart man yeah kevin kevin so he's a base and it's easy to be with the guy like like other guys are a little stiffer you know like if they if they're big on movies and they're screwed in their scripts they're harder to interview like interviewing for me what you guys are doing right now that's i would rather be on this side than yourself did i hate it do you hate it no i love it you you i mean we're so used to it yeah man you're good you guys are good at it i would i would rather i would rather talk to 20 000 people do deliver a message then then do an interview one thing you said that really resonated with me months ago never waste a good crisis never man never waste a good crisis it was a legendary quote right what do you mean by that in 2008 i wasted i wasn't in a position to go on offense and in 2008 that was 12 years ago 13 years ago 2008 happened two businesses got cut in half the two companies i had got cut in half my real estate got frozen the bank i owed 50 million to went under like it was terrible and i was sitting there like i couldn't do anything i was terrified and i told my wife in 2008 i said the next time this happens we'll have a billion dollars worth of debt okay we had 50 million i said we'll have 20 times and i'll have i won't have 400 units we'll have 4 000 we had 9 000. and the next time we're going to go we're gonna go eat stuff like like a humpback whale eats krill and we're gonna go gobble stuff up because this is what these giants do they take advantage of crisis and problems and opportunities and so um if you can't be on offense and you can't stay on the stage stay on the field you can't win and most crisis send everybody back to the bleachers and i say go big or go home no man go bigger go bigger never go home man ain't nothing home is when you had your ass what he's like i'm going home [ __ ] i had my ass going home mama mama loved me so i never go home man i go big or go bigger because if you go big enough if you go big enough this time the last time when the economy failed the banks called my loan so we need we need the money this time okay i owe 20 times more money 30 times more money and the banks called and said we'd like to help you through this so when you get big enough you got partners when you stay small ain't nobody gonna help you undercover a billionaire so what is the deal with that i actually read that you guys had stopped for a little bit because he wasn't happy that they rolled it out during the presidential transition is that true well there's a lot of things i'm not happy about okay so me and discovery been fighting since the get-go since february last year so you know not really feeling that situation i mean i'm feeling it but so are they okay they're like goddamn man this guy's loud you know so look four days into the shoot i got dropped off in a town called pueblo colorado plain lands i've never been there can't use my name shaved my head look like you had a beard growing out of beer that's like gray in it they dropped me off into town with average income i think household income is twenty four thousand dollars like the town's beat up if you guys any of you saw the show they dropped two girls off into tacoma and fresno they dropped me off from pueblo you look at those three towns from a satellite image you're like i don't want that one you can tell what blah blah is there's nothing there so four days into the deal i hit the ground they give me a hundred bucks uh they said what's the first thing you're gonna do when you get to town i need to go to the bank they said why you only got a hundred dollars i said i know i'm gonna get rid of it and they're like what do you mean i said i don't need this hundred dollars i'm gonna get rid of the hundred i want to go to zero as fast as i can number two i need to go work out i need to go to a gym they're like why would you go to a gym you know i'm like because there's people there and i need people because i don't have any money and the third place i'm gonna go to is a business is for sale that's the first three things i did when i got to the town for the next four days you guys don't actually see it because the way they cut it on the fourth day discovery has a mandatory meeting with me and says hey on the fourth morning they said you had an appointment this morning at nine we're holding it off we need to meet with you and they get on this zoom call and they're like look if you continue like this we're gonna pull the plug so you just gonna rogue awol dude i was going crazy man they're like look does anybody you're putting people in danger the crew hates you people are fighting we've already had two people quit i'm like so well what the [ __ ] why are we having a meeting about this [ __ ] and they're like what do you mean you don't care i'm like look a month and a half ago i had a meeting with you guys in l.a okay i sat across from the president of discovery okay and and i had a bag just like this my bag was on my my bag only weighed 53 pounds because that's what a million dollars [Laughter] so we've been fighting now since february shooting that show and we're still fighting so what's happening right now is they pulled it off the tv partially because the capital was burned down you've made no secret that you've taken losses before yeah and um perseverance is obviously one of your best traits what is you know i don't know and maybe you can answer this is is the perseverance something that can be tortoise you have to learn these lessons that's actually going through dude if i don't if i if i quit then i then i got to start all over again like i just do the math on quitting and if i quit i gotta start like you can't really quit there's no way to quit the game and and because the moment you quit you just gotta start over again like if you quit a marathon and you wanted to finish one you're going to be sitting there the whole time thinking i quit yeah and so i wanted to quit undercover billionaire for 90 days every day for 90 days call my wife every day i'm quitting today she's like you ain't quitting she's like you ain't quitting you got to do this you got to prove to people you got to prove to people that you can do this and that they can do it and uh you know the idea that you need money to make money it's not true you just do not need it and and i i literally that that hundred dollars i never spent a hundred dollars the entire time i was gonna actually why'd you go to the bank what did you do to get rid of the hundred so would you how did you get rid of it i said deposit it oh you got gotta started checking account so you just didn't want the temptation of having nothing i don't want the hunter i don't want to be a manager i got a hundred dollars i'm gonna be him i'm gonna manage a hundred dollars i don't wanna watch i gotta manage it i mean the best thing about that show was i didn't have my stuff with me because you don't have to manage it i didn't have a plane didn't have my watch didn't have my credit cards didn't have cash dude all you got all you got is you and i when all you got is you you get to meet you i got to meet all of me okay i had a different name and i had my head shaved but i got to meet my courage my commitment my creativity my persistence my no quit like you know i'm i'm a beast when you put me up against the wall one last question before we wrap what's your strategy on marketing because you you've branded yourself you've done a great job yeah thank you thank you thank you and um you put out content at a rapid pace you're on clubhouse all the time now thank you so so what is your content strategy what's your strategy on marketing the story that i told you about nancy is a marketing move okay it's not it really wasn't about discovery it really wasn't about the million dollars okay it was a marketing you to market you have to have stories and so what i do is i create stories there's a story man you know filling up miami marlins stadium i put 34 000 people in there on super bowl weekend 2017. people like why would you do that weekend because i know what i'm doing dog okay because it's a story and stories mythology if you look stories big stories big stories keep being told and they get bigger and bigger and bigger over time so you know i spent i think we spent 10 million dollars to rent miami marlin stadium marketing sent out 400 million emails 400 million not 400 000 400 million 400 million emails in one year to list to fill that stadium up on super bowl weekend steve harvey came and spoke and he's like dude who are you man like what what who who in their right mind by the way he's a ve he's a he you know he's a very church god believing man until until he gets behind the stage he starts who the [ __ ] are you man who in their right mind would rent a stadium on super bowl weekend and think that they could fill it up and you're not jay-z and you're not beyonce for three days to teach people about money and business and i'm like dude i did it to tell a story because from now on grant cardone's the guy that filled up that stadium on 2017. so that's part of the marketing game the marketing game you can't just have ads you gotta yeah you got to have a story that's a gym what you just said yeah that's why so we just got those two kids i got yeah they mine they're not yours no biologically they're not mine at all it's a story man i read them mcgregor you're willing to go places that other people want these ain't mine no but we so all right we got a truck right 18 wheeler yeah yeah and um you know it was it's our first truck we're from new york so we're not into trucking yeah well shout out to alex cadence y'all guy he got us in the truck so long story short we got the truck and um we're gonna put the truck on the road but i'm like we gotta wrap it first so our logo is a little different it's like emojis so when you saw like us with dave ramsey it's like you see two young black guys with emojis in the top three business it's like you know it's interesting so i'm like we're gonna put earn your legion and rap we all agreed to it but it was taking a while so one of my other friends was like let's just put it on the road first let's not worry about it i'm like no no we can't put on a roll before you wrap it because we got to take pictures of this document and put it on instagram because i know what that's going to do it becomes a story a lot of people have trucks yeah a lot of people don't have emojis on the truck yeah yeah have this so when we put it on there and then it goes viral like oh this is crazy so now the truck is cool but the marketing and the building of the brand now it becomes bigger than just a 118 wheelers becomes like this is crazy totally what's your best marketing plan you ever did what's the best marketing class yeah this wasn't a bad good man it's it's got my name on it and everything right you can't miss it now that's a good one so here's another one here's another well that's what i was gonna pull up okay so like uh this is coming you know these are investments right i get to write it up and i get to use it in marketing so we'll put people in that everybody's going to take pictures of that takes money man you know instagram and facebook youtube is my best like youtube's my boy like uh you know it's my little brother i love you can take everything away from me dude do not take my [ __ ] my youtube from me man my youtube like i love youtube because you know why because it keeps building yeah digital real estate digital real estate shout out to ben x yeah yeah oh it's a good friend of ours as well we're friends with you i'm saying youtube you ain't friends with everybody man uh basically almost almost i'm getting you got to have some people that you're up against you know you ain't hating you ain't popping they hate you they ain't hating you they don't know you they don't know you more importantly because you know people that want to be you will hate you repeat people that give up on the things you want will definitely definitely hate you for having the things they want and quit on perseverance because that's just you know people just immature so where do you go from here what's your what's your 10 20 year plan what's your vision going forward to 100x this thing i just want to live longer than my body does man you want to live your legacy yeah yeah i want to outlive my body so i just want to contribute i want i want to be an uncle to to people of all colors i wanted to to be to be i always wanted to be accepted by everybody when i was a kid and i didn't care i just wanted friends i wanted friends i wanted mentors i didn't care i liked the girls a lot but um but really really when i wasn't with the girls i wanted the guys i wanted to be buddies i wanted to have fun i wanted to be part of something you know and i wanted to make a difference and i wanted somebody to help me and nobody would so my dad wasn't around my older brother i lost my older brother when i was 20. so my two mentors my guys dropped out my dad was 52 my brother was 25 i was 10 and 20. and then i just kept looking for mentors i went to school to find mentors i went to college to get mentors i i wanted my uncles to step up they never did and so one day i was like man i'm gonna make my make something of myself and i'm gonna be an uncle to other people so that's why people call me uncle g now and i like uncle dave no grandpa grandpa i got a question about uh balance because i know you said you were working 256 days out the year what's that like now as far as the the work-life balance i know you got two girls yeah how's that yeah so today it's like you know what i've done is now create a life where i get to bring them with me my little rentals and uh you know i get to bring people with me like like literally i fund i quit just doing the business and started figuring out what do i need to fund my life and i used to do budgets like any budget i've ever done and i think most americans know this any budget you do you could probably get close to that budget your house your electricity your water i just started adding stuff okay i need help i need security i need a nanny i want a homeschool i need a bird i want a helicopter i want i want i want an island [ __ ] you know who's gonna pay for my [ __ ] okay so who's got my money that's my battle cry who's got my money who's got my island who's got my ranch who's got my charity we got we got about three million dollars sitting in a charity account we'll dump out this year and i'll re i'll i'll hit it with another five or ten million this year so that charities for kids without fathers and who's got who's got it i don't i only have limited funds who's got my jet fuel you know who's got whatever i want it's a contact man business and money are contact sports are you buying an island mike right thinking about it maybe casual a ranch or an island the island you think an island or romans you're going to go big you want to go big man what are you talking about 10x in it bro you can put everything ranch it's a big difference between a ranch and island i know there is we'll be shooting the next episode there it's pretty it's pretty sweet [Laughter] great problem with the problem with the island is i have i don't get the same tax deductions i get out of the ranch so yeah i got to consider all that got to balance it out if i put some cattle on that ranch i can write it off your boat i like kanye's ranch yeah grant it's been a pleasure man you guys are awesome okay best interview i've ever done in here this week there you have it there you have it biggest in the game biggest in the game what would you what would you what would you like to tell the people um no look look all i want to tell you like is if there's anything that i said today that that like like kind of like ah god you didn't like that take another look at it if there's anything that bothered you that i said take another look at what i said because it might be something just hitting so close to home that you need to pay attention to it number two you know i had a lot of fun with these guys you know i want to make sure it is the best podcast in the world better than mine so better than everybody's like i'm a very collaborative person i want to like i want to flow a lot of power to a lot of people uh i was doing a gig i'll tell you one other little story i was doing a gig once and we were i know about 7 000 people there and there was a promoter that was with me and one of my guys took a selfie with a with one of the one one of the uh um the guests and the guy bill zancker says man don't do that man you don't take don't take selfies with the audience that that needs to be grant and i'm like dude are you kidding man yeah man he's the star you can't take selfies you can't take shots as stars the star i'm like bro there's a universe of stars man [ __ ] i don't want to be the only star bro when my team shines bright i get brighter so i don't want to be the brightest star i don't want to be the only star i don't want to be by myself i played that game for the first 50 years of my life and i'm done with it i want to play with other people all walks of life love diversity i like culture i like i like your stories because white people are boring they're boring bro boring stories [ __ ] like it's so much [ __ ] talking about their country clubs and their kids and this and that your kids are [ __ ] up because you're boring okay so so uh i just love people from all walks of life we did 19 countries in 2019 man i learned about so many different cultures people in dubai singapore iran there was 100 people from iran came to dubai to listen to me like i'm like so i i just like inclusion yeah and and i want everybody to do well financially too that's the other thing man this financial game you got to figure this game out you have to figure that game out you got to make it a priority this year well i appreciate that once again and shout out to maddie j watch too much oh you know well company watch what what's the company watching you watch yeah yeah y'all get coming you know kind of thing we do you judge a man's body's watch these days yeah i mean richie it's not that one but passive income man big takeaway guys don't buy don't buy you know get your assets not your necklaces get your assets not your bracelets shout out to um spectacular smet he helped put this together it's a receipt right here shout out to maddie jay he helped us maddie and shout out to my brother neil neil davis he helped he helped oh yeah shout out hey shout out to the child to you guys this is the first interview that we did ever where we didn't have to set up equipment we didn't have to set up a mic everything was provided for us so the hospitality here's amazing [Applause] housekeeping items yeah shout out to everybody on patreon.com you know that's our pride to pay program obviously top five on top tier you have access to eyl university the number one business school for everything in finance entrepreneurship and business eyelid university man uh we are proud to have all our earners man the space has been growing and we greatly appreciate you and shout out to everybody that's important to merch our merch team too shout out to to bam and uh smitty uh atlanta handling all the business out there and uh yeah man everybody that's supporting the merch and uh thank you for being so patient with us i know there's been some delays but again thank you for being so patient everybody's gonna get there all orders will be fulfilled uh we greatly appreciate y'all yeah i'm university the biggest eyo is the biggest the biggest thank you guys for rocking with us we'll see you next week peace peace [Applause] my graduates from my school being forbes backdrop backdrop [Applause] backdrop

Channel: Earn Your Leisure

Views: 357,960

Keywords: earn your leisure, business, finance, Grant Cardone, Taxes, Real estate, Investing, How the rich stay rich, Tax secrets, Wealth

Id: 194eGF14JZY

Length: 79min 8sec (4748 seconds)

Published: Tue Apr 06 2021