Grant Cardone: He Bought a $2M House… Then Grant Did the Math | DSH #1761

Well, Ginzy shouldn't buy house.

I'm gonna tell Charlie's audience,

being Charlie talk about this all the time,

like a house is not a thing, people should be mine.

They should rent.

Do you rent?

I don't.

See you should rent, bro.

You think so?

A hundred percent.

Vegas, you're not gonna win.

I'll tell you the-

How can an Asian man make that big a mistake?

All right, guys, you're with my friend.

Third time's a charm.

Grant Cardone, let's go.

Good to see you, man.

Good to see you, man.

You're looking good.

You know you're hustler, dude.

You know?

That song, you're a hustler, baby.

Like there's no, there's very few people

can hustle the way you do.

We just hit 2,000 episodes.

We've done a hundred this week alone.

Yeah, fantastic.

Doing 20.

It just goes to show you, you know,

it's watching Jake Paul last night,

win 90 million bucks.

We're getting this jaw cracked.

And it just reminds me, bro, the hustle.

Yep.

The hustle beats IQ at any day of the week.

Any day.

And by the way, you got a boat.

I got a boat.

Jake, me and Jake, we don't have that I guess.

We just got to do the hustle.

The Asian helps with IQ a little bit.

But yeah, I wasn't never like a genius, you know.

Yeah, yeah.

I got bullied a lot for not getting good grades.

Yeah.

But what's up with you, man?

It's good to see you back on the scene.

Thank you.

You're still having politics.

Are you kind of, uh, you know, look,

I'm here.

Charlie asked me June of this year.

I asked me to speak at this.

I was in, I was in the South of France

and he hit me and said, hey, I got to have been.

I want you to speak to the audience about finance

because he and I had been together a number of times.

And we always, we always ended up

talking about finance and family and freedom, you know.

Yeah.

And we'd have these conversations about,

can you really have freedom and take care of your family

if you don't have your finances right?

Right.

And he was a very, very astute dude on finance.

He was very interested.

He was always a very curious guy about everything.

Yeah.

But he was very, he was self-educated, as you know.

And he was very well read

on investing, Bitcoin, real estate, tax laws.

Yeah.

The guy got a new a lot about the game, the hustle.

He did, man.

The finance hustle.

Yeah.

He knew when he passed, when Charlie passed,

I was actually thinking about you because our most viral clip

was you talking about how dangerous schools were in America.

Yeah.

And then look what happened.

Yeah.

Crazy.

There you are.

I mean, it's unreal.

You know, Charlie, I did not know when I met him the first time.

I didn't know who he was.

And he was already like on fire.

Yeah.

I don't think that's because I'm like ignorant.

I was just, I got my head down most of the time.

I'm not looking at all this.

So anyway, I met with him and I started talking about colleges

and I started ripping colleges.

Yeah.

And I'm like, I don't know where you stand on that.

You know, and he's like, look at my book.

So yeah, Charlie was a unbelievable dude.

I've met a lot of people.

Like you've met a lot of people.

Yeah, I've met a lot.

I've gotten to know a lot of people in my lifetime.

And I've very rarely have I ever said, maybe,

maybe there's two people I'm thinking about right now.

Charlie Kirk was an exceptional human being.

Yeah.

Instantly, by the way, you would know it exceptional.

And he was intelligent and he was,

and he had a lot of tolerance and love in his life.

He just had a, my aunt, I had an aunt, aunt match.

And she was a very loving person.

Worse part of my life, she still loved me.

And she was very tolerant.

More than even my direct family member.

This woman went to church every day.

Charlie had the same thing where he did not have,

it wasn't just like, you're wrong, you shouldn't do that.

He knew I was wrong, shouldn't do that.

But he still had some tolerance.

Yeah.

I have no capacity for that.

Yeah.

I have no hope that that ever happens for me.

But, Charlie, I am much.

Charlie was, he was a super dude, bro.

He was a special, special guy.

One of the kind, man.

You still all in on Bitcoin?

I had your brother on a,

I Charlie's last event, actually, in Tampa.

And he said he was, I think, 96% in a Bitcoin now or something?

Yeah, well, he's heavier than me.

Yeah.

You know, I got, but I got a lot of real estate.

I'd have to get rid of to get to 96%.

Yeah.

We just completed the largest real estate Bitcoin purchase

in the world.

It was $235 million, a real estate in Boca Raton.

We bought it out of bankruptcy,

and we added $100 million of Bitcoin.

We're going to take that public.

We've done 10 of those.

Wow.

I don't know if I told you this the last time we were together.

I don't think.

I think you were just starting it or announcing it.

Yeah, we started in January.

We've done 10 this year.

We hope to take the company public.

We'll do a deal called our Melbourne project

is $72 million.

It had about 180 Bitcoin.

And then this Boca deal is $235 million plus 900 Bitcoin.

Wow.

So it's a big purchase.

Let's go.

So for a private guy, we've accumulated a lot this year.

I'm not buying the Bitcoin by itself,

because it's so vital to keep telling people,

leave that thing alone by itself, dude.

You can't day trade it.

Yeah, my God.

I mean, yeah, I don't even know how somebody would do that.

Like the swings right now are so violent.

Yeah.

That's why I blended the two together.

Smart.

You're not going to get those swings.

You're going to get the swing, but it's going to be diluted

with the real estate.

And over seven or eight or 10 years,

we think putting the two together at scale,

we'll build a go.

Really the play here is not the Bitcoin or the real estate.

It's the read industry.

So the read industry is 4.3 trillion.

It hasn't changed in 65 years.

It was created in 1960.

I was two years old.

None of it's changed.

There's $4.3 trillion accumulated there

with the largest real estate organizations in the country.

They can never hold Bitcoin on their balance sheet ever.

They have to distribute all their cash.

90% has to be redistributed to the investors.

So they can actually go out and reinvest their cash flow,

which is very valuable.

And if they're big, they're buying garbage real estate,

because you just can't find that much great real estate.

And if they're too small, they don't produce enough money

to stay in the business.

So by putting real estate and Bitcoin together,

I have basically a moat around my business

that doesn't allow Blackstone, Vanguard,

Avalon Bay, Camden, Starwood,

none of them could come play in this pool.

That's brilliant.

So for at least a moment,

I could have a giant moat and a head start.

Smart.

Blackstone's taken over Vegas, man.

Where I'm a...

They are, huh?

I think a lot of private equity owns the casinos now.

Well, they probably have to make them work.

Yeah, but it doesn't mean it's going to work.

It's not looking like it's working right now.

Didn't they, aren't they just...

Because they're running 6% and paying 7.5% out on a deal?

A lot of the casinos are Vegas are struggling.

They're saying potentially...

See, they're big enough where they just walk away, bro.

Here's the keys.

Yeah.

And they'll just be doing business again.

Because that's going to be a rounding error for them.

A couple hundred billion, whatever.

They're a trillion dollar business.

If they got to throw away 175 million, 200 million,

a group called Brookfield.

Two years ago, you can look it up.

You'll see it when your guys pull it up.

Brookfield, they walked away from like $200 billion.

And nobody said anything.

They bought a deal the next day.

What?

If you walked away from $2 million,

you'd have to file bankruptcy.

Yeah, holy crap.

There's levels to the game.

You made a lot of predictions the first time you came on

and I just want to give you your flowers

because you've been spot on, man.

You said we'd be a renter's nation.

Yeah.

Three years ago, you called that.

They just announced a 50 year mortgage.

Gen Z kind of Ford houses.

You called that should.

Yeah.

Yeah.

Well, Gen Z shouldn't buy house.

I'm going to tell Charlie, Charlie's audience,

me and Charlie talk about this all the time.

Like, a house is not a thing people should be buying.

They should rent.

You should rent.

Do you rent?

I don't.

Do you should rent, bro?

You think so?

A hundred percent.

You should rent.

You're not going to win.

Vegas, you're not going to win.

Maybe you make a little money.

What, how much house did you buy?

I spent two million.

Two million.

Yeah, bro.

The mortgage is a lot.

Did you pay cash?

I put down 20%.

Okay, so you put 400 grand down.

Yeah.

You finance one six.

10% interest on the loan.

You're paying a hundred.

You're paying.

I'm paying 160,000 dollars here in interest.

Pretty much.

So in 10 years, you will have paid $1.6 million in interest.

And you will still owe $1.6 million.

Holy shit, I never thought of the dollar.

Your 400 grand's dead earning nothing.

You could have taken that 400 grand

bought Bitcoin.

How many years ago did you buy it?

Last year.

Oh, last year.

You'd have bought Bitcoin.

You could have bought Bitcoin as low as 72,000.

So you could have bought 400,000 dollars of Bitcoin.

I actually, you're going to hate this.

I said crypto.

You'd have 600 pieces and they would be, oh, you sold.

I sold crypto to buy the house.

Oh, bro.

So I had to pay taxes on the gains too.

Oh, my God.

I got, yeah, I got wrecked.

I got wrecked.

Yeah, you should be renting, dude.

You're paying, let me guess your note.

Your note on a million six.

Well, you're paying 120 a month.

Well, I had to do a bank statement like that.

How much are you paying?

What's your payment?

I'm paying 12,000 a month.

Yeah, yeah, $120,000.

I mean, $12,000 a month.

Yeah, $12,000.

Yeah.

You know how much house you can rent in Vegas for.

There's this new technology floating around

that people cannot stop talking about.

It's called the light system.

Before you roll your eyes, it's not some gadget

you strap on or supplement that promises the world.

Every once in a while, I come across something

that actually stops me in my tracks

and the light system is one of those things.

This isn't a supplement.

It's not a biohack.

It's a full on energy environment

built to help your mind and body synchronize, recharge,

and operate at a higher level.

It uses light patterns, color frequencies,

and coherent energy fields, all the stuff

that your body naturally responds to

to create a coherent, energetic field around you.

People are saying they feel more clear,

more centered, more alive in their environment

and honestly, the science behind it is fascinating.

As I've seen a lot of wellness tech,

but the numbers coming out on this new study

of the light system are actually insane.

Researchers measured human chic cells

before and after sitting in front of a system and get this.

A 30 minute session boosted cellular conductivity

by 61%.

The study even showed increased conductivity

in isolated DNA, which is associated with stronger structure

and better repair pathways.

The result, more clarity, more balance, and more alignment.

You can save $500 now if you go to the lightsystems.com

and use discount code Sean.

12 grand a month, bro.

You gotta mention.

I could get a damn bizarre invention.

No property tax.

No maintenance.

You don't fix a light bulb.

You don't fix the irrigation.

You don't fix the landscaping.

You have no obligations.

Every 10 months, if they don't treat you right,

you're like, it fuck off.

I'm gonna go to a different place.

And you'd have something new, all new all the time.

Yeah, I might rent the next one.

I might sell this one.

Yeah, you already try to sell that thing, bro.

Get out of that as fast as you can.

Damn.

Yeah, you've probably.

I can't believe you did that, bro.

I know.

And you're Asian.

All right, bro.

I'll tell you the.

How can an Asian man make that big a mistake?

The fuck?

I did it mainly for my, I just got married.

You did it for her?

Two months ago.

I did it mainly for her.

What nationality is she?

She's Latina.

Do you see?

That's why you don't mix.

Asians don't make those mistakes, man.

Asians are good with money.

Oh my God, that's gonna be one right there.

Yeah.

Bro, that's gonna rip.

Yeah, that.

You know, hey, I'm sure, I'm sure Laina wanted you

to buy a house.

See, but if you, if you to hooked up with an Asian, okay?

You to go on her and say, look, we can rent for like six grand

or we can buy for 12.

She'd be like, oh, I love you a long time,

but I leave you quickly, okay?

You put, you add a Latino to it and say, dude,

should we buy a house?

Oh, yes, we should buy a house.

They like the security, you know?

But you have more security at a rental property.

I guess.

Well, you drive in the property.

Their job is to protect people.

Yeah.

I have a, I just bought a $235 million apartment complex.

Damn.

Security, you think they have there?

A lot.

We have more, more cameras than you have like,

we have cameras everywhere to protect the people.

Good point.

You drive up, give your keys to the concierge.

They put the car up.

You have insurance on everything.

You don't have to pay for it.

Yeah.

The next time you make a move like this,

well, you guys please talk to them.

I'll text you, I'll text you.

My bad.

I know you're disappointed.

I am.

It was a personal house.

I don't invest in real estate.

Yeah, but this is what you'll do now.

And now you're going to, now you're going to make sense.

You're going to justify the whole thing.

Let's a personal house.

We're going to have babies there.

Our kids, you know, bruh, none of that's true.

By the way, the kids don't care.

You don't think they care?

The kids?

The kids don't care whether you own a home.

They just want you guys to be happy.

They want to be happy.

They want, they don't want to go to school, bro.

That's what they don't want to do.

They're like, I didn't.

Who would?

Yeah, I didn't.

Who would want to go to a prison?

Yeah, you're doing great with Sabrina.

Yeah, I see her videos all the time.

Sabrina's doing great.

Hundreds of millions of years.

She's finished school at 15.

You know, 15.

She's done.

No college.

Home school.

Nah, she won't go to college.

She go to my college.

You wanted to take over the business?

I'd love for her to take over the.

I'd be awesome.

Yeah, because she's with me.

She sees all the stuff behind the scenes.

Like, she's in all the meetings.

Yeah.

She's in the nasty ones.

Yeah.

Oh, she's showered the good, the bad and ugly.

She's in the like, she's in like,

when I call the guy in, I'm like,

if you can't learn this, bro, I'm going to execute you.

Damn.

You don't get to keep any information.

No, nothing.

Nothing.

She gets to see all of it.

Respect.

She saw me do a call the other day with a guy.

And the guy was, I'm like, bro, you make a decision?

No, I haven't looked out of yet.

I said, OK, let me tell you what it says.

It says, Bing, Bing, Bing.

What do you want to do?

I need to look at it.

I'm like, I just, I just have to tell you what it said.

OK, OK, look inside your mind's eye.

You got a picture of piece of paper.

It says ABC, bro.

Yes or no, you want to do it or not.

And he's like, well, you know, I was considering this other thing.

I said, bro, so there's got nothing to do with you not seeing it.

You want to do it or not do it.

Like, it took like me, I'm pulling teeth right up.

And at the end of the call, the whole thing was bullshit.

What?

He was going to do something else.

Everybody had fooled around with this guy for three weeks

and wasted time, energy, and resources.

And when it was all said and done with, my daughter's like,

he knew the whole time, the whole time he was lying.

That's crazy.

OK, so I'm like, yeah, you got to pull the truth out of these people.

Get them to cop up to it.

So anyway, you can't learn that school, man.

Or you can't learn in a book.

You can only learn it being in the game.

I think the last time I was with you,

did I tell you about the litigation she was in with me?

No.

I was in a hundred million dollar litigation.

She came into the mediation with me.

Wow.

OK.

So there's your side, the other side, and his lawyers.

There's my guy.

I have one lawyer and the mediator.

No.

So I told the mediator, she's in the whole thing.

I said, I told the mediator said, this has going to go down.

I'm going to offer X, Y, and Z.

They're going to do your little back and forth bullshit.

You ever been in a mediation?

I actually haven't.

OK, well, what happens is a third party.

This third party guy sits over here, and he talks to you.

And then he comes talks to me.

And he talks to you talks to me.

And he tries to get everybody to come together.

So we're not doing that shit.

OK, there's a light this guy's been doing this.

He's typically a retired judge.

The way you do this is you interrupt the whole process

and say, look, I'm going to go to him.

When you go over there the first time, after you talk to me,

you talk to me first, you're going to go over there.

I'm going to walk over there and interrupt you.

I'm going to ask you to leave.

And I'm going to ask his lawyers to leave.

And I'm going to sit down with the guy direct.

And I'm going to make him an offer.

I'm going to make him an offer.

He can't refuse.

OK, and I said, we're going to get this deal done in two hours.

In two hours, the whole deal is going to be done.

They think it's going to go 12 hours.

Wow.

It's $100 million.

So me and Sabrina walk over there.

I knock on the door, tell the mediator to get out.

Let me hear if tell me, don't do this.

I've been doing this my whole life.

It's going to blow up in our face.

Hey, two lawyers from New York, scram, hit the road, jack.

I'm going to get this done.

Me and John are going to do this right now right here.

Mediator, get out of here.

Me and Sabrina, 15-year-old kid walked in there

and did the deal.

No way.

Yeah.

That's bad ass.

Yeah, it's bad assed.

Wow.

So mediation normally takes 12 hours, you said?

Oh, it could take three days.

It could be who knows?

It could be years.

That's nuts.

I want to resolve this massive divorce between these two

people.

You solved the divorce.

Yeah.

They've been back and forth trying to get a divorce.

Very wealthy people.

And they could never get a settlement.

The lawyers could never get a settlement.

I said, hey, guys, I get this deal done in 12 hours or less.

So we ain't got a deal done.

Do you even know these people?

How did they help?

Oh, yeah.

I knew them.

Wow.

Look at you.

You just got to confront things, man.

You got to confront what everybody's thinking about.

What do you really want?

What are you not saying?

What do you really pissed off about?

If you could have anything and everything you wanted, what would it be?

Okay.

If you didn't get all that, what would you give up?

Yeah.

So, you know, you just got to confront stuff.

People don't ask hard questions.

You ask hard questions.

I tried.

Do you interview people?

Yeah, I tried to.

Do you see marriage as a business partnership?

Do I see it as a business partnership?

I mean, in some ways I do, but I don't recommend that the woman's in business with the guy

running the business.

Hmm.

Like the same in business, you're saying?

Yeah.

I don't know how to do that.

Yeah.

I don't know how to go from, but I'm a very dominating person, right?

So, I'm like, I mean, bro, your wife would have never taught me into that fucking house.

I can't even think about that.

You didn't fall for it when you were my age?

You didn't let it make a girl buy a, you never bought a house with a girl?

No.

Wow.

No.

You kidding me?

Well done.

Yeah.

Yeah.

No.

Huh?

There's definitely been a woman that I've asked to buy a house with you, right?

The past?

Did anybody ask about a house?

No, I buy the house and then I'm like, you get to live there.

You know, I mean, I'm like, I'm the real estate guy.

They're not dude.

Yeah.

Like, but I've never bought a house like that for that.

Okay.

So, like, the house that we live in today, or the house in Malibu, I bought the guy burnt.

Yeah.

Okay.

So, I was on the beach.

We weren't in the market for a house.

We were renting the house.

We were in.

I saw the house and I'm like, I'm about that house.

Because I knew, I knew, I saw something in the house that I knew I could get a good deal

in the house.

Yeah.

She's like, what do you see that I don't see?

I said, it's a divorce going on.

And she's like, how can you tell us a divorce?

I said, I could tell because of the furniture out on the deck.

Okay.

They're not living there together.

So, I called my buddy, Brandon up.

I said, hey, Brandon, 21808, PCH, who owns it?

Ukrainian guy owns it.

Okay.

Good.

What's going on?

Is it a divorce?

He's like, yeah, dude, it is a divorce.

I said, great.

This was before the Ukraine war.

I said, I want to buy the house.

He's like, he's impossible to deal with.

I said, for sure, we're buying it.

Because it's impossible for me to deal with, then he's been impossible for everybody else

to deal with.

Okay.

Somebody wants to touch this guy, because he's like, very volatile.

Should I go in and make an offer?

He says, fuck you and Ukraine doesn't hurt me, because I don't know what it means.

And then I'm like, just hanging there, Brandon.

We're going to get the deal.

Okay.

Took 19 months.

Damn.

Boom.

Finally, he finally gives me the house.

We stole the house.

I believe I stole the house.

I got to believe that now.

So, but then I called my wife up 19 months later.

After we walked that beach one morning, I called her and said, I bought the Malibu house

today.

And she's like, oh my God, that's awesome.

Wow.

But she, one of you guys has asked me in charge, bro.

Agreed.

Okay.

Like, you don't believe in 50-50?

50-50.

50-50 is 50, bro.

You're getting a half effort from everybody.

You got to get 100% from her, 100% from you.

Yeah.

And you know, you know, 50-50 bullshit.

What?

50 pesos and 50 American dollars?

What is that?

That's 25 cents.

Okay.

So, no, she needs to give 100% what she's good at.

She can't, there's no reason to have her doing stuff she's not good at.

And then you need to do what you're good at.

Right.

You know, I'm not good at everything.

I, like, I don't hire people.

Really?

I don't get a hire in there.

I get my, I get my two cents.

Okay.

But I'm like, yeah, they're not gonna work.

But whatever y'all want to do.

I would have thought you were good at firing people, actually.

No, I don't fire people either.

The last thing I do is fire somebody.

Okay.

I could see you firing someone.

Yeah.

No, but because I'd fire people every day.

Yeah, you got high standards, which is good though.

I would be like, I'm too, I'm too, like, no, get rid of them.

I'm done with them.

So if I did that, we would, I would destroy the organization.

Okay.

So you're quick to, uh, dude.

I wouldn't, yeah, I wouldn't have Jared, Jared wouldn't work for me.

Sherry wouldn't work for me.

Todd wouldn't work for me.

What?

Some of my best performers I would have made mistakes on.

I'm just, yeah, I'm just,

I don't have that eye.

It's not, it's not something I'm good at, right?

Wow.

You even acknowledging that is huge though, I feel.

Well, that's not my, that's not my superpower.

Yeah.

What would you say your superpower is?

Uh, my superpower one, I mean, one of my superpowers is, is, uh, I make decisions

very quickly.

And then, and then another superpowers, I make sure that decision works.

Hmm.

So.

So you're good at making important decisions with quickness.

And then, yeah, yeah, I don't take a lot of time.

I'm very, uh, once I'm in, dude, I'm in.

Yeah.

So it's like second nature to you.

I just trust myself.

I have a lot of trust.

I think that's one of my, I trust me.

And I have a lot of, I have a lot of discipline.

I'm also very disciplined is, I believe that is a superpower.

And I see things, I see things that other people don't see.

Yeah.

But I got a lot of weaknesses too.

So those, you know, but I could see around cracks in corners, like me seeing the

reat thing is because I was looking for it.

Yeah.

I was looking for the crack.

I'm looking around the corners.

I think, I think Charlie Kirk sell that too.

Charlie, Charlie had the ability to see things other people couldn't see.

Agreed.

It's on the election.

And, and, and I'm simple.

That's another super power.

I'm a very simple man.

Really?

Extremely simple.

Nothing's complicated with me.

Everything's very, everything, everything's very simple.

With me, very simple.

If it's complicated, I don't do it.

Like, like Bitcoin, what I've done with Bitcoin in real estate is so simple.

It's like, it was so obvious and so simple.

When I tell people they're like, I damn, dude, you don't have to put it on the blockchain.

You don't need to put the real estate on the blockchain because the blockchain is not ready

for that anyway.

Yeah.

But if you just mix the two inside of an organization, you know, rap, rap,

rap to shell around it, rap to shell around the Bitcoin and the property,

own them and then have people invest in that.

Then you, you have the same thing.

Yeah.

So it's just simple, it's a simple idea.

It's fast.

A lot of people try to come up with these complicated ideas and businesses these days.

Yeah.

But you're right about being simple.

Keep it easy, right?

Yeah.

100%.

Well, Grant, it was good seeing you, man.

I hope you liked the chair.

Always good, bro.

I love the chair.

Always good seeing you, bro.

I love the chair.

Yeah.

Check them out, guys.

Peace.

I hope you guys are enjoying the show.

Please don't forget to like and subscribe.

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Thank you.