How To Create Wealth In Real Estate Grant Cardone Pdf

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· 279 ratings · 29 reviews

Start your review of How To Create Wealth Investing In Real Estate: How to Build Wealth with Multi-Family Real Estate

CRITERIA:

Must be income-producing machine, in great location, where the rent is less than the cost of home ownership and buying at or below replacement cost. Look for markets with Decades of projected job growth and Market demographics more likely to rent than own.

Do not buy SFR's, instead buy multiple doors as can have 10% units vacant and still be cash flow positive using the income to cover expenses as well as paying down debt while you wait for appreciation.

You'll need to pay your manager $4

CRITERIA:

You'll need to pay your manager $4,000 a month as if you pay less you have more issues and they steal.

APARTMENTS ARE THE BEST ASSET AS THEY PROVIDE CASH FLOW AND PAY DOWN DEBT WHILE WAITING FOR APPRECIATION!

EXIT PLAN: Look for 100% return in 10 years so if put $15MM down on a $50MM, would need to appreciate to $65MM (only put $15MM in). You can reach that by only increasing rent by $50 a year.

FUTURE VALUE CALCULATION:

PG 71: Take # of units x rent increase x 12 months x occupancy rate = NOI (Net Operating Income). Divide by cap rate (6%).

Then add back in your yearly + cash flow and you find around 300% return in 10 years!

WHAT TO LOOK FOR:

The right location which is convenient to jobs, highways, easily visible from Street traffic, more affordable than the homes and their surrounding neighborhoods, priced below replacement cost which is what it would cost to rebuild (so competition can't come in and build new as their cost would be higher), in a market with high barriers-to-entry and probably a b class product in a B Class neighborhood that has great street presence.

GC first deal was 48 units for $1.95MM and out $350k down. Sold 3 years later for $5.2MM. Paid off the $1.6MM debt and kept the $3.6MM profit plus the cash flow of $130k over the 3 years. THIS MEANS TURNED $350K INTO $3.73MM IN 3 YEARS!

LOOK FOR GROWING CITIES!

Anything UNDER 16 UNITS will not produce enough free cash flow!

LOOK FOR 16+ UNITS!

You need to know every sale, every comp, every rental, what properties are under rented, over leveraged, what a property sold for in the last cycle, the vacancy in your market, and the cost of every expense from insurance to utilities to management fees to cost to turn to how long it takes to turn to the cost to advertise to closing ratios to trailing 12 months of operation and then to build relationships with the top three controlling brokers in the market.

Use loopnet to find Brokers but don't mention you found them on loopnet.

You will need selling and financing history of a property along with rental comps and I break down the property and detailed information with rent comps and sales history.

Love the location when you first visit!

Be CASH FLOW + W/OUT IMPROVEMENTS AT 4-6% ON CASH INVESTED.

USE DEBT AND STAY BETWEEN 65% TO 75%. GOAL IS TO HAVE RENTERS PAY DOWN YOUR DEBT!

Have manager onsite and pay them well.

Have a 1.25% DVR (debt coverage ratio).

Set aside $250-$300 per unit per year for future renovation.

Get insurance quote while under contract.

Assume property taxes at full value.

Use 40% as expense calculation.

Have 3 years of repair costs in reserves.

Know break even occupancy (worst case scenario) and see history.

KNOW THE FINANCIAL STATEMENTS BY HEART.

WALK AT LEAST 25 DEALS AND CREATE FOLDERS OF DATA ON ONE'S DIDN'T BUY!

Produce at least $24k a year.

Have minimal 25/50/75 rent increase potential as don't want to buy at full market rents.

WALK PROPERTIES WHEN NOT WORKING TO LEARN FROM BROKERS.

Know what the last buyer paid for the deal and know how the property operated during the bad times.

Walk the property at day, night, and weekends and Mystery Shop the property in person and over the phone.

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Love Grant, but not this book...

I love watching Grant on YouTube and learned absolutely nothing new from this book. I would have given it a much higher rating if he spent more time teaching. This is basically one big ad for his fund.

Sep 01, 2020 Brian Kristof rated it did not like it

Was very below par. There was essentially no value provided throughout the entire book and was essentially selling his services at Cardone Capital. Wouldn't recommend this book to anyone. Was very below par. There was essentially no value provided throughout the entire book and was essentially selling his services at Cardone Capital. Wouldn't recommend this book to anyone. ...more

Book was good. Easy read. If you watch a lot of his videos you probably won't learn much new information, but there is some. It is nice to have the info in a hands on text format. My two biggest gripes about the book are that all the information is very surface level, and there is a lot of pushing his investment fund. It gets pretty sales pitchy at times. At the points where I wish he would dig under the surface a little more, the book starts to pitch the investment fund. Either way, good book f Book was good. Easy read. If you watch a lot of his videos you probably won't learn much new information, but there is some. It is nice to have the info in a hands on text format. My two biggest gripes about the book are that all the information is very surface level, and there is a lot of pushing his investment fund. It gets pretty sales pitchy at times. At the points where I wish he would dig under the surface a little more, the book starts to pitch the investment fund. Either way, good book for baseline understanding. Not going to be an expert after reading it, but it will open your eyes and thoughts a little bit. ...more

I had to drop this one after a few days of constant torture. I heard about Cardone and his accomplishments and thought this was going to be one of great information and inspiration for investors and entrepreneurs.

He basically mentions his investment company and his accomplishments and how you will multiply your money with him in every paragraph. I don't even think he wrote this book. Jeez I don't even think he read it after it was done!

A person supposedly that smart should know how annoying th

A person supposedly that smart should know how annoying this type of repetitive and advertising centered content can be. People are paying for this book, jeez!
Don't waste your time and money.

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May 26, 2021 Norma Jean rated it really liked it

Grant Cardone explains various aspects of ownership of apartments--solopreneur, Grant Cardone explains various aspects of ownership of apartments--solopreneur, partners, group investing--and why he believes his method of searching for the right ones is the right way to grow great wealth. This is done in orderly fashion and broken down so that it is understandable to most. It is not without mention of investing funds in his organization, guaranteeing monthly returns. By the time one finishes this Grant Cardone explains various aspects of ownership of apartments--solopreneur, Grant Cardone explains various aspects of ownership of apartments--solopreneur, partners, group investing--and why he believes his method of searching for the right ones is the right way to grow great wealth. This is done in orderly fashion and broken down so that it is understandable to most. It is not without mention of investing funds in his organization, guaranteeing monthly returns. By the time one finishes this book, there is a clearer understanding of all that is involved in such a venture. ...more

May 17, 2019 Roberto G rated it it was amazing

Great book with very valuable and easy to understand wisdom that you apply in your life on your journey to financial independence and wealth. Grant has a very no nonsense approach which is easy to appreciate. I'm going to definitely take the advice to heart and apply the principles. It will surely be a book I will be referring back to repeatedly for it's expert advice. It's not your one and done type book. I would really recommend you follow Grant on his social media for more golden nuggets of w Great book with very valuable and easy to understand wisdom that you apply in your life on your journey to financial independence and wealth. Grant has a very no nonsense approach which is easy to appreciate. I'm going to definitely take the advice to heart and apply the principles. It will surely be a book I will be referring back to repeatedly for it's expert advice. It's not your one and done type book. I would really recommend you follow Grant on his social media for more golden nuggets of wisdom. ...more

While this book has a TON of name dropping of his own company, there is a good amount of information for the newbie who is just trying to understand terminology and concepts. Before reading this, I had no idea what to even search for when it came to real estate, now I have things I can start digging further into.

Apr 19, 2019 Liz rated it it was amazing

Inspirational

This book has super insights into investing in Real Estate and has opened up peoples eyes on how create real wealth. He is phenominal in his strategic approach on how, where and when to invest with step by step guidelines. Not only is he inspirational he gives back to society as well to aid others along their journey to financial freedom. Bravo Grant....

Oct 26, 2018 Curtis Blount rated it it was amazing

Grant illustrates how to increase your finances through investing in real estate via multi family homes. He seamlessly provides advice on how to accomplish thar

Amazing book. I would recommend to any real estate investor, beginner or seasoned. I enjoyed learning about substantially increasing my finances through investing bug and not small.

Feb 03, 2020 Gurjeet Bal rated it it was amazing

Excellent read

I learnt few things that I did not see in other materials. It all makes sense and it's important to start sooner than later but with bigger property one way or the other.

Excellent read

I learnt few things that I did not see in other materials. It all makes sense and it's important to start sooner than later but with bigger property one way or the other.

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Sep 30, 2018 Jaber rated it it was amazing

Great book .

Very informative and to the point . This is a very good intro for a beginner into real estate .

Apr 23, 2019 Dillon rated it really liked it

Great

Great book with financial calculation breakdowns. He does mention investing in his company a few times, but a great book nonetheless.

Excelentes comentarios para iniciar en los bienes raíces

Grant opens up your mind to an investment opportunity that is so simple yet yields great rewards if done in a sensible way.

This review has been hidden because it contains spoilers. To view it, click here. Best

May 14, 2020 Jerry rated it really liked it

Really good! You will find some excellent financial advise in this book that pertains to more then real estate! Highly recommend.

This book felt more like him trying to sell us to Cardone Capital, there were some good points but felt like it was more about his story than a book about how to get into real estate

Mar 26, 2019 Martin rated it it was amazing

Grant has been a genius in all his work more so books. This should also be a master piece

Sep 25, 2020 Donald rated it it was amazing

Short and to the point. Gave you some GREAT pointers on how to invest in real estate.

I received this book as a promotion, it's more like a practical way to invest with him in cardone capital, although there's some advice worth considered. It´s a bit repetitive.

Great

Well worth the read it's pretty quick very informative! Anyone interested in real estate at all should read this book!!!

A very basic guide to building wealth by buying multi-family properties. Kinda like getting free samples of cologne or perfume — you get to take home some value but just know you're gonna get pitched (Cardone Capital) like 9 times.

Amazing

This book is an amazing read I learbt alot form this book and I will soon be buying your sell ir be sold book aswell. This book goes through what to do in a real estate deal and how to do it, this is a must read

Dec 21, 2018 Krzysztof rated it did not like it

You pay for a book advertising Cardone's Investment company

The whole book is about Mr. Cardone bragging about his own investment company called Cardone Capital. Very little useful information, it's all about going big and making you feel that it's not worth to invest on your own. I think for £15 (the price I paid for the ebook) you get just a book that is one large advertisement. With tricky approach pretending to educate Mr. Cardone is making you to pay for his advertisement. Don't get me wrong I read all his other books and they been very motivational and on point but this one it's just very disappointing. Highly not recommended! Better books out there in fraction of the price. Also forgot to add that all the investment "strategies" are mostly US oriented so will have very little to do with UK and every little piece of information he gives you leads to recommendation of Cardone Capital.

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I am a NY Times Best Selling Author, internationally-recognized Sales Training Expert, Business Coach, and the Founder and CEO of 3 businesses: Cardone Training Technologies, Cardone Group, and Twin Capital Management. You may have seen me as the star and co-executive producer of a show, called TurnAround King.

In addition to speaking internationally to individuals, companies, and industry leaders

In addition to speaking internationally to individuals, companies, and industry leaders on sales effectiveness, negotiating strategies, business development and business expansion, I am a regular contributor to networks including, Fox News, MSNBC, CNBC, Huffington Post, Business Week's Business Exchange, The Wall Street Journal, CNN, Reuters, CNBC, Today Show and over 600 radio shows.

I am the author of four published books, with a fifth book slated to release in 2012.
• "Sell To Survive" (2008): The definitive sales survival manual on how to SELL your way through any economy.
• "The Closers Survival Guide" (2009): The ultimate guide to getting sales done.
• "If You're Not First, You're Last" (2010): Sales strategies to dominate your market and beat your competition.
• "The 10X Rule": Where to start, what to do, and how to follow up each action you take with more action to 10X your success!

I have also authored a number of business and motivational audio and video programs; The Rules of Success Motivational Program, Control Without Confrontation, 21st Century Selling, Maximizing Every Opportunity and a customized program for the auto industry called The One a Day Sales and Management Program.

I first became known in the business world with the development of a revolutionary new selling process, known as, Information Assisted Selling (a non-confrontational 21st Century selling approach)

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