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The Cardone Zone

The 3 mistakes Real Estate Investors Make That Cost Them Millions

The Cardone Zone

Grant Cardone

Business, Careers

4.84.1K Ratings

🗓️ 12 November 2021

⏱️ 8 minutes

🧾️ Download transcript

Summary

When I first started in real estate, I wish i would've known these three things... In my upcoming Real Estate Training I will be talking about these topics in depth! You wont want to miss it! what are you waiting for SIGN UP!!! www.grantcardone.com/rei.

 

Transcript

Click on a timestamp to play from that location

0:00.0

Hey, I want to share with you a few things that people seem to miss about the real estate game and watch so many people that actually have the

0:07.0

NAC. You have the NAC by real estate. It's one of the greatest asset classes in the world. If you have the NAC, if you know the good locations, like you can feel it, kind of feel it in your system, but you're not

0:19.2

investing in real estate or the right kind of real estate, you won't make big money there. This house behind me, I'm going to share the three things right now that you should be looking for to follow through that.

0:29.0

That inclination, that inspiration, that direction, that truth you have inside yourself, that says you should have more money invested in real estate because you guys, you know, if you're watching this, it's real, you can touch it, you can feel it, you don't need to imagine it, you can visit it, somebody will pay for it.

0:53.0

And at this time in the history of the world, people won't just pay to live there. They'll pay to use it for short periods of time. I'm at my home right now in Golden Beach, which is a little community just north of Miami.

1:09.0

It's near Aventura, Miami, sunny isles, but south of Fort Lauderdale. This is the view where I live.

1:18.0

This will never go away, and this is what people have been coming down to visit. So this house, by the way, while I will make money on this house, this is not the kind of house you should be looking for.

1:28.0

I bought it at the right time. I got a deal on it. I'll sell it in the problem with when I sell it as I'm going to pay a parosa tax bill. So that's why I got the kind of real estate that I'm talking about.

1:40.0

Number one mistake that people are making in the real estate game. I want to share with you here, and I'll share three of these to stick around, is looking at homes as the purchase.

1:50.0

Even for you guys out there flipping, I've never met a flipper. If I take this house out of my network, I still have another $4 billion for the real estate.

2:01.0

The cash flows every month. This is the piece that does not yet cash flow. Probably real one day because I'm going to run it out to other people. They want to come hang out on the beach and look at the surf.

2:11.0

They're probably going to pay $15,000 to $20,000 a night, which is insane. They're going to pay that to bring your family here and stay here, rather than hotel.

2:21.0

Let me tell you why you're making a mistake in my house, because that house does not. Unless you get the right house at the right time and you can air be in the start term rentals and keep it full.

2:33.0

I don't even know if they'll let me do that air be in the year and build a beach.

2:37.0

Number one, quit looking at homes as the way to make money in real estate because it is not the ultimate way.

2:47.0

Second mistake you're making is, and this is like completely natural to do this. It's just an unfortunate part of the game.

2:57.0

Real estate, unlike stocks, you're not in a good market. If you're not in a good market, then you're not going to build a buy a good real estate because maybe that market's dead for the next six or seven years.

3:16.0

It's dying or it's having trouble. Like this plant right here. I'm going to come out here and try to save this thing. It looks like it's done.

3:24.0

But some real estate and some markets does not do well because the things that are going on in that market.

3:33.0

Markets can die and they can come back. So many people, if you're in the Northeast right now, you're up in New York for instance. You could see a lot of pressure on your real estate there.

3:46.0

Because of a lot of political stuff going on where people are like leaving and you could see actually

3:58.0

the number of the prices. You can see less interest in the price. I see right here animals that visit my property.

...

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