The Cardone Zone

For the first time ever, Grant interviews Elena for the show. He doesn't shy away from even the difficult questions, like "How long will you wait to start dating after I die?" If you want to know more about Elena, watch this revealing interview that will also give you great parenting and relationship tips!

REAL ESTATE needs to have 4 things: cash flow, scale, time, and the right location. Nail those 4 things and you'll be doing better than 99% of all real estate investors out there. The USA is the only place where you have the deals available that I am talking about. You can't find these properties with a lot of units available anywhere else, so the USA gives you SCALE, and right now the USA is on SALE! People inside the market always misevaluate the market—brokers are lying to you half of the time because they can't see the future. At Cardone Capital, we look at the future because we are looking at 2028, 2030 and beyond!

On this edition of Power Players Grant Cardone interviews The Hip Hop Preacher—Eric Thomas. He had a difficult childhood and eventually ended up homeless eating out of trash can. He had a victim mentality that so many struggle with in poverty and in fatherless homes. Now Eric produces massive success for himself and others speaking at churches, schools, and wherever else there is life—he goes to motivate and inspire. American success is real but you have to go out and get it. Eric Thomas grinds to the grind. He says you must have Intrinsic motivation. Don't grind for the wrong reason. Don't make excuses. Outwork and out hustle people. Excuse are everywhere and people complain about not having enough support. Most people want the reward, but not grind. They want the lottery. Shoot for the Nobel Prize. It is about changing people's lives. Eric says the problem with education is that for many students there is no clear purpose, you go to school because you have to. Eric had to be rich because he decided he couldn't be stuck at a job—he wants to own his time. It's not just about having a nice house and nice cars, being rich allows Eric be able to buy his wife the expensive medication she needs. TGIM is better than TGIF—keep grinding!

1. You're not buying: If you don't buy, it's because you don't know what you're doing 2. Buying too small: This happens when you become scared thinking that big deals are riskier. This is false, small deals are riskier. 3. Buying on a Budget: don't be confined to what you can "afford". Don't have a budget when you buy, have a budget when you own. 4. Believing the Pro Forma: don't put significance on a fairy tale. 5. Underestimate expenses: taxes and insurance aren't fully understood. 6. Not funding Capital costs—roofs, carpets, etc. need to be funded, so set some aside for when you will need it. 7. Over leveraging—borrowing too much money. 8. Under leveraging—not borrowing money. 9. Buying on CAP rates: If you're only looking at 8 caps, you'll miss out on good deals that don't fit your criteria. 10. Not knowing: ignorance is not bliss.

You've got a lot going on. You run a business. Marriage. Your kids. The ability to change is vital to your success. You can wish or meditate but, in order to change, you have to make or become different. When I was 25, a mentor told me something that I'll never forget: "To change, you've got to change." How do you change? Do you make gradual moves or do you wait for the grizzly bear to come rip you apart? You don't like to travel. Travel more. You hate flying. Go on more flights. You don't like sleeping outdoors. Maybe you need to take a camping trip. Remove your rigid thinking. All Change Starts With You!

Ezra Firestone came to my studios for an exclusive interview on how to run a multi-million dollar e-commerce business. If you're interested in selling things online, don't miss this!

You shouldn't invest in real estate if you don't know the market. You have to know about the location and what kind of residents are in the area. When you know what you're doing, you'll make money. If you're not making money, then you don't know something. The real estate is a game about KNOW. The 4 Quadrants of Real Estate are: ● Price ● Down Payment ● Debt and ● Cash-on-cash

$5,000 is NOT much money. Money goes where money knows, and people who hate money never have money. Broke people don't have a target big enough, because to them 5K is a big amount...but the question is, how do you turn 5k into a million? If you had 5k and add $5,000 every year and earn 20% on it, you'll have $1,125,000 dollars in 20 years. So how to get to 20% returns? If you earn only 10% a year, you'll have just 320k. If my real estate isn't making 20% a year I make it when I sell the property. My deals make 20-30% and my bad deals make 15% when I sell them. You need to know the FUTURE value of money. Listen in for more on the Cardone Zone!

Negotiating is a game, and you need to have your game ready before the game. You need a mentor for this or you will take your whole life to learn it. The game is important because you have to have fun getting the money or you will go play a game elsewhere and go spend the money. I attach money to the game. I won't play a game without the money. I am the perfect combination of a gamer and a money man. The fact is if you're not money motivated you're going to lose the majority of deals. Remember this, when your ego is bigger than your bank account, you're going to lose! Become a better negotiator and you will WIN in life. Listen in for more on The Cardone Zone!