Why Vacation Homes are Bad Investments

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Grant Cardone

Grant Cardone

Күн бұрын

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Vacation real estate vs apartments
Buy something that produces consistent income. You want to invest in something that is dependable. Too many people have dead money invested in things that won't give a big return. Know what you're doing when it comes to real estate!
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Grant Cardone Career and Bio
TV Undercover Billionaire
CEO - CardoneCapital.com Real Estate Holdings 2.2B AUM
Founder - 10X Movement Business Conferences Worldwide
Author - The 10X Rule. (Plus eight more biz books)
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Raised Over 100M for Charites Apple Podcasts‎The Cardone Zone on Apple Podcasts‎Careers · 2020 (420 kB)is4-ssl.mzstat... KZbinGrant CardoneGrant Cardone is the author of eight business books, thirteen business programs, and is the CEO of seven privately held companies. Forbes calls him one of the top social media business influencers in the world. Cardone founded and manages a real estate investment firm, Cardone Capital, with $1Billion assets under management. He also travels the world consulting Fortune 500 companies, small business owners, startups and governments on business expansion. One of his enterprises recently hosted The 10X Growth Conference at Miami Marlins Park in Miami, Florida with over 34,000 business people and entrepreneurs in attendance from over fifty countries. Mr. Cardone resides in Miami with his wife, Elena Cardone and their two children, Sabrina and Scarlett. Visit grantcardone.com for his latest blogs, news, tips, training, and where to catch him LIVE!
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Пікірлер: 244
@brettrun8575
@brettrun8575 5 жыл бұрын
I own two vacation homes that each provide 18-20% return on my initial investment annually. This is rental income after expenses. That does not include home appreciation and the fact that other people are paying down my mortgages. That works for me.
@logansproul5704
@logansproul5704 4 жыл бұрын
Where are they?
@tominator3
@tominator3 3 жыл бұрын
Mind saying where at?
@brettrun8575
@brettrun8575 3 жыл бұрын
@@tominator3 north Georgia mountains.
@wenvu577
@wenvu577 2 жыл бұрын
We do 30-40% net cash on cash annually on our STRs. Cardone is correct, for anyone with a net worth over $10M that can afford to get into those asset classes. Most can't, so STR model is still feasible for non-HNWI investors.
@kcorleone1805
@kcorleone1805 Жыл бұрын
Works for me as well. I own a vacation home in Destin and have it on Airbnb. It’s super optimized and we make $200k a year on it which brings in a 40% cash on cash return for us yearly. Ski markets are too seasonal so he’s right on that but to say vacation homes aren’t $$$ is silly when it can produce super high cash on cash return.
@troytokarczyk
@troytokarczyk 4 жыл бұрын
Don’t buy a vacation home like that. Build a small cabin, Pinterest decorate it and instagram the hell out of it and bam. Small investment to make money.
@benitocheeto.shames
@benitocheeto.shames 3 жыл бұрын
Genius
@charlesg7926
@charlesg7926 3 жыл бұрын
Dumb. Don’t buy anything “cool and trendy”. There’s not money in it. If you want to get rich, buy boring and modest homes (single family, townhomes or duplexes but not condos) in C class (working class) neighborhoods. Neighborhoods where mortgage is cheap, rent is about 50% or more higher than the mortgage, and the renters- although often Spanish- tend to pay on time and have steady or decent paying construction jobs. And put 20% down to avoid PMI, have a good paying 9-5 job or business that you use to save up the money for your down payments. And put 20% down on the homes. Never sell them… just buy and hold. And as inflation and values rise, your profit % each month will continue to grow Obviously I recommend a business (I own a remodeling one, pays ridiculously well), but many people have 9-5’s and if they’re doctors or lawyers or other good paying ones, that’s okay too
@mt2oo8
@mt2oo8 5 жыл бұрын
That iPhone alarm sound is triggering me
@bickerin
@bickerin 3 жыл бұрын
That is a pretty big blanket statement there. If this guy bought a home that is only good for snow seasons, THAT is his bad. Get a vacation home that has both cold and hot season activities, example Lake Tahoe California. Lake Tahoe homes are booked out all spring, summer, winter, and part most of Fall.
@henry_8855
@henry_8855 6 жыл бұрын
ya phone ringing
@jules6856
@jules6856 6 жыл бұрын
Rowdy _ 😂😂
@KidLondon
@KidLondon 6 жыл бұрын
Henry _ that’s Facetime... yo pick up the phone, it’s the Tax man!!
@non-binaryeugene733
@non-binaryeugene733 6 жыл бұрын
Cause its time for you to wake up and make money.
@fredso
@fredso 6 жыл бұрын
We've made a 2X ROI on one of our vacation homes up in the mountains in 10 years
@skiidzman
@skiidzman 5 жыл бұрын
What are you renting it out per night at and how many days out of the year are you getting for occupancy? Just curious.
@truvaroexploreafrica5758
@truvaroexploreafrica5758 4 жыл бұрын
ALF very good example that it can work!
@lucasjohn4489
@lucasjohn4489 4 жыл бұрын
Hell yeah!!! That's awesome! What mountains?
@greennbean
@greennbean 4 жыл бұрын
And you still have the equity.
@shadowfox1848
@shadowfox1848 2 жыл бұрын
I sell rental homes in Orlando and occupancy is 70% to 90%
@sunrisesunset7
@sunrisesunset7 6 жыл бұрын
If he's a hedgefund guy Im sure he'll be ok. lol
@dustovshio
@dustovshio 6 жыл бұрын
exactly if kanye west goes into a club and drops 100k on alcohol (and it's his own brand) it's like a normal person going out and dropping a couple bucks to play a game or two of pool or going out to the movies.
@Thereisalwaysmore
@Thereisalwaysmore 5 жыл бұрын
@@dustovshio that almost sounds like Stock Buybacks
@dustovshio
@dustovshio 6 жыл бұрын
agree with what warren buffet said but if your vacation rental is in a high traffic area like downtown in a city most likely it will make money. I know what you are going to say "yea but why mess around with making a couple hundred grand a year" well good question, could just be a temporary stepping stone to the next deal.
@mohaamd_7505
@mohaamd_7505 6 жыл бұрын
Though I concur, but I believe who ever purchased this property didn't necessarily have "Investment" as top priority, as much as just having a nice vacation place (Or at least that's what I'd do). They just rent it to make passive money while the building is not in use.
@skiidzman
@skiidzman 5 жыл бұрын
I can't entirely get behind the logic. For a middle to upper class family, if you own a $350,000 plot of land on a river in Colorado for example - and you build 4 vacation cabins, upscale, and rent them out even at $185/night for 160 days out of the year that's still many, many more times what you would make buying a couple single family house rentals. The potential income is staggeringly good assuming everything else is in place. Hell, I stayed at a B&B 2 months back in Utah, a coast guard couple ran it, and 2 others, one in breckenridge, and another up in northern US. They retired entirely off the income made from renting them out via air B&B/other websites. So... yeah, maybe add a disclaimer - if you are filthy rich, think bigger? I dunno man. Cut my logic in half please I am curious.
@ujuhhuiolxjjdh4969
@ujuhhuiolxjjdh4969 5 жыл бұрын
Totally right I agree with tou
@loquist42
@loquist42 2 жыл бұрын
I wouldn't buy a vacation home like that, but there are plenty of areas where vacation homes are inexpensive and nightly rents are high. If you research and find a good area you can net more on a property each year than your initial out of pocket investment.
@user-qj2ou5ci4v
@user-qj2ou5ci4v 6 жыл бұрын
I wish I knew you about 7 years ago when I was getting in with the heavy hitters (REITS, FUND MANAGERS). Man, you really give away golden nuggets for free. You seem like a crazy-cool and even funny, coach. I'm glad you're able to enjoy your family and success. You did your research, took your lumps and kept it moving. Much respect for you.
@millerab78
@millerab78 5 жыл бұрын
I agree that high end vacation rentals probably don't work, but what about other areas that are touristy year round and you can buy houses and rent them for more through airbnb, VRBO, booking and expedia and make almost double as a Vacation rental. For instance, I had a 4br/3ba apartment in Savannah GA that rented for $2200/month($1980 to me after management). After the tenants moved out, I painted the whole place and did a couple upgrades. I spent about $8,000 to make it a little nicer, then I furnished the whole place for another $30,000. Now after one year of having it rent as a vacation home, I made $5000/month after management fees, but before utilities. Utilities ran about $600/month on average, so in one year I pocketed pretty close to the amount of money it cost to renovate and furnish the unit. I am not saying this is the better way for every unit, but if you live in a area that the vacation rentals stay rented out and the rents are not that high, going to vacation rentals could be a nice way to bump the cash flow.
@michaeladams8568
@michaeladams8568 5 жыл бұрын
When you find the right geographic vacation rental location you'll know it! 70% occupancy in vacation stays beats 100% market rents by three to four times revenue. My portfolio is no where's near GC however $35M and growing is a sizable asset portfolio I can live with. Still love GC videos! Perhaps Smart Stays vacation rentals will tackle multi unit market rentals next!
@CommandoMaster
@CommandoMaster 6 жыл бұрын
Buy positive cash flow real estate in good areas.
@wirecoaching477
@wirecoaching477 6 жыл бұрын
Right
@truvaroexploreafrica5758
@truvaroexploreafrica5758 4 жыл бұрын
Commando Master areas where it’s sunny are very good
@timucinercan461
@timucinercan461 6 жыл бұрын
Someone please turn off that alarm )
@kebdog36
@kebdog36 6 жыл бұрын
Grant “there’s snow in my boats too” always agreeing to get the movement in the right direction. Always always agree. And go big!
@tristancota4871
@tristancota4871 6 жыл бұрын
I️ truly believe real estate is one of the best sources of income :) Putting my heart into personal branding and growing up income to invest in real estate for my future is the end goal.
@tristancota4871
@tristancota4871 6 жыл бұрын
Mudassir Ali I️ agree
@jamesvillegas877
@jamesvillegas877 6 жыл бұрын
If the economy crashes you can buy at a discount again
@tristancota4871
@tristancota4871 6 жыл бұрын
james villegas I️ agree
@tristancota4871
@tristancota4871 6 жыл бұрын
The ShawShank Preneur correct, I️ meant if I️ were to buy before it does in the near future like those did in 2008. Apartment complexes seem to be bringing in good cash flow I️ agree
@gerryvandepol7630
@gerryvandepol7630 6 жыл бұрын
The ShawShank Preneur ...section 8 in good areas works..check goes in whether or not it's rented..there are always shortages of section8 and the rents are higher than market value,still you have to vet tenants and keep standards up...good management is key...jus sayin
@Ryan-jx4vh
@Ryan-jx4vh 6 жыл бұрын
Ski properties are garbage since they are so seasonal. However, beach front Caribbean properties can make a good return.
@truvaroexploreafrica5758
@truvaroexploreafrica5758 4 жыл бұрын
Ryan exactly
@rondj3495
@rondj3495 2 жыл бұрын
"Vacation homes are bad". Then he proceed to say " I'm paying , I think they wanted $150,000 per two weeks here. Last year I tried to rent it out for 2 weeks but they dont want the deal (Of course because they might be fully booked)". Even in big cities like new york a beautiful townhouse is around $50,000/month. Just assume a nyc townhouse rented out for the whole year VS. a vacation home rented only for atleast 3 months a year but at $150,000/2 weeks. Which do you think is a better investment? And also investment property in that area is way cheaper than the cities he mentioned. By the way, The French Riviera vacation villas with 300 sunny days a year says "hello funny guy".
@TigranGertz
@TigranGertz 6 жыл бұрын
Go big. Go big. Go big huuuge
@aurelianspodarec2629
@aurelianspodarec2629 6 жыл бұрын
Large :D
@slicksteve22
@slicksteve22 6 жыл бұрын
Yugggeeee
@MultiCrash47
@MultiCrash47 2 жыл бұрын
Man. I have mad respect of Grant on most things. He is so far off with his assessment of STR. I own 4 active soon to go live with the 5th. My cash on cash return is within the first year of each property so far. These properties kill it and stay booked 90% creating a ton of extra income.
@ks5924
@ks5924 2 жыл бұрын
Exactly. He flat wrong on these.
@ErickaWilliamsCC
@ErickaWilliamsCC 6 жыл бұрын
crazy nice views though
@northernozarkhomestead
@northernozarkhomestead 2 жыл бұрын
Sound advice, lol! With 5000 apartments all leveraged up to the eyeballs and then the Dictator said no one has to pay any rent. I'm glad i didn't to this. If i did, i would be going big on my bankruptcy watching the sheriff come to my home every day to serve new papers taking home after home after home. I hope this didn't happen to you. ill leverage 0-20% grow slow and have zero chance of property being taken even if no tenants pay any rent for 2 years.
@samgee5908
@samgee5908 6 жыл бұрын
ud be in idiot to rent a place for two weeks for 150k!!!
@tyspeaks6104
@tyspeaks6104 6 жыл бұрын
Love the message but probably still gonna get one for myself aha ! I didn’t grow up with a lot when I was younger and so I guess that part of me still wants some material things in life , not ashamed to say it ! Peace from Ty
@joshwells6540
@joshwells6540 3 жыл бұрын
If you get use out of it and have the money I dont see why not
@chaank1069
@chaank1069 2 жыл бұрын
I hope you did.
@2020Dreamlife
@2020Dreamlife 5 жыл бұрын
Wowwww. Thank you. Guys like this make it happen. Love it
@charlesbotensten
@charlesbotensten 6 жыл бұрын
Unsure if I agree without seeing the financials - living NYC, a lot of folks paying what you’re paying ($150k) per month/wk in Hamptons/Montauk, multiplied thru the spring-fall is a hefty profit. Then they shut it down nov-feb, very little overhead. The appreciation and rental profit is big business out there
@chhanhima5335
@chhanhima5335 6 жыл бұрын
your children are so adorable
@aurelianspodarec2629
@aurelianspodarec2629 6 жыл бұрын
Exactly! GOod parenting as well.
@christhompson8357
@christhompson8357 4 жыл бұрын
Creep
@lucasjohn4489
@lucasjohn4489 4 жыл бұрын
Hey btw... How are your rentals doing? still not paying the dividends to your investors?
@powergrower
@powergrower 6 жыл бұрын
I agree. But I do buy 1 unit deals outside of the US. Its one of the only legal ways to keep your financial privacy because you don't need to report real estate for personal use outside the US. It's the modern-day Swiss bank, I don't see it as a way to make money but more of a way to protect against possible financial issues in the US. Plus I travel a lot on short notice so it's nice having places to crash all around the world without having to book hotels and Airbnb's.
@loveNsuccessfollowsme
@loveNsuccessfollowsme 6 жыл бұрын
John Lingel nice thinking.
@DStoddard
@DStoddard 2 жыл бұрын
You need find the right location, not affected by the conditions of weather. A place where everyone is always going. You will always be competitive with hotels.
@johnnykahuna5724
@johnnykahuna5724 6 жыл бұрын
This is why I love Grant. Dudes on freaking vacation with his kids and still putting out pure knowledge. Keep em coming man!
@herewegomom
@herewegomom 6 жыл бұрын
Johnny Tsunami right? He's the man!
@KenRobinsonchannel
@KenRobinsonchannel 6 жыл бұрын
Agreed. It's not always the best knowledge though. He's great for real estate investing, other types of investing, not so much. For example, he says take your money out of the stock market... That's horrible advice. The stock market is the greatest wealth creator known to man. I'm not talking stock trading. I'm talking buy & hold stock investing like Warren Buffet. A good diversified portfolio of stock will make a guy rich. Now of course go buy real estate, but have your money diversified. Real estate is not the end all be all.
@Scott-by9ks
@Scott-by9ks 4 жыл бұрын
Really!!! I think this guy is out of touch with the average American consumer!! Reality check most Americans make less than $50k a year! They are not spending it on vacation rentals at $150k a pop. Most Americans own their homes. Only about 35% rent. Now that's not an insignificant number but of the 65% who own a home only about 5% own more than 1! That means of the 69% of Americans who take vacation all but 5% of them either have to stay with family/friends or they are going to rent a place. I want a part of that market.
@msh12319
@msh12319 4 жыл бұрын
yeah
@truvaroexploreafrica5758
@truvaroexploreafrica5758 4 жыл бұрын
Johnny Kahuna totally agree
@keepitreal5317
@keepitreal5317 3 жыл бұрын
It depends on the expense of the house.
@b-rare
@b-rare 6 жыл бұрын
hey grant . not only is it a bad investment, but you constantly have to find new tennants because people generally dont go back to the same place all the time, they like to switch things up. sure some will come back, but you know what i mean. now you have more odds that you will have idiots at your rental destroying things, and you have to keep marketing that the place is for rent. what a nightmare if u ask me. 1 tennant for 1 year = less of a mess and projected profits. if he built this to make money, it makes me wonder how he even made any money to begin with. im sure when you get to elite rich, 20mill on a house like this is a joke anyways and does not matter if its a win or loss. no way his intentions were to build this and become profitable .
@kbd40
@kbd40 6 жыл бұрын
"Go big with your kids"
@lburg3780
@lburg3780 6 жыл бұрын
Poor kids. Where’s their mama?!?!
@KingVilla1955
@KingVilla1955 5 жыл бұрын
Not all vacation homes are bad investments (depending on region and their tourists attraction). A 6 year return of investment isn't too bad for the very most of us here. :)
@Starfish2145
@Starfish2145 2 жыл бұрын
Wrong. Many second homes not only pay for themselves but appreciate in value tremendously. Depends on when you bought, where you bought
@Pinnedon11
@Pinnedon11 6 жыл бұрын
Thx Uncle G👍🏼😎..
@cityparkproperties7001
@cityparkproperties7001 6 жыл бұрын
There are far more appealing properties to vacation in Europe. I'd rather vacation there than that mini mansion in Colorado.
@brettrun8575
@brettrun8575 5 жыл бұрын
City Park Properties too bad those places are full of Europeans. Lol.
@EthanNoble
@EthanNoble 5 жыл бұрын
@@brettrun8575 LOL Fact
@NoBody-we3iy
@NoBody-we3iy 5 жыл бұрын
EthanNoble whats wrong with europeans?
@jcolon3027
@jcolon3027 6 жыл бұрын
Hi Grant. Thanks for the advise. My friend and I are planning in investing. Would you consider a vacation rental home in Orlando 5 minutes from Disney. It's called Festival in Champions Gate. Home produce between $4,800 to 5,200 monthly. Price of the brand new property is $308,000. Thanks for your advise.
@theandlife
@theandlife 5 жыл бұрын
jcolon3027 yep!
@greennbean
@greennbean 4 жыл бұрын
If you are asking a jew like Grant Cardone what to do with your money then don't be sad when you get fucked. He's a shark. Meaning he's only out to feed himself. Not you. Realize this about finance KZbinrs. Even Graham Stephan who seems like a stand up guy will cut you open to make a buck. Do the math on that property man. 308k plus a say 20k furnish. Just say 330k and that makes you 5 gs a month. 60k a year minus 15% for a management company to run the thing for you plus another 20% for operating costs and some side money for unexpected shit. Puts you at around 40k a year for 20gs a year each on the property. If you are going 50-50 on this deal you are making over 10% ROI on the deal. So it's a great deal. Just keep in mind one thing. Always have a year's worth of expenses stashed away for days like these. If you don't you will be going through bankruptcy just like Grant is.
@greennbean
@greennbean 4 жыл бұрын
Keep telling them Grant! I don't want your fanboys raising the prices on my deals. Just keep investing with Grant and get your 5% ROI.
@juancarlosmoreno6763
@juancarlosmoreno6763 6 жыл бұрын
10X all day
@greennbean
@greennbean 4 жыл бұрын
Bankruptcy all day
@herewegomom
@herewegomom 6 жыл бұрын
Thanks for the info! GC your videos rock!!!
@VacationRentalSiemReap
@VacationRentalSiemReap 6 жыл бұрын
Thank you for the tips, I hope we don’t fall into any category you’re mention.
@dmac1170
@dmac1170 6 жыл бұрын
“Go big with your kids!” Lol
@donnashehane3166
@donnashehane3166 3 жыл бұрын
Two weeks for $150,000? That is completely pretentious and crazy.
@sharkiesgirl8929
@sharkiesgirl8929 2 жыл бұрын
Its 446.00 an hour for 2 weeks. 😂😂😂😂😂😂
@palmbeachvinyl232
@palmbeachvinyl232 Ай бұрын
@@sharkiesgirl8929it’s BS. This whole video. Clickbait?
@alrod9535
@alrod9535 5 жыл бұрын
Excellent advice! On a side note, 2:22 looked like Grant was going to get taken out by the kids. Face reaction is priceless. :)
@KenRobinsonchannel
@KenRobinsonchannel 6 жыл бұрын
"take your money out of the stock market" lol... You should always have a portion of your cash in the market. That's true passive income.
@gerryvandepol7630
@gerryvandepol7630 6 жыл бұрын
the stock and option market works day and night but you must be schooled on how it cycles, requires daily trading and monitoring and the understanding of timing and is inflation and deflation proof done expertly
@reeazali960
@reeazali960 6 жыл бұрын
I'm interested in learning about real estate. My question is if you can't afford rental properties, how can you increase income besides owning a business or taking out loans? If i'm solely in real estate do i have to become an expert sales man and sell houses to increase my income to one day afford rental properties?
@mumbaikan9185
@mumbaikan9185 3 жыл бұрын
Sales, liasoning, u can start with management, where other property u will manage make them money and keep in some for you.
@drewlongbrakevibes
@drewlongbrakevibes 3 жыл бұрын
Grant, thank you for your knowledge and wisdom in this area. I have a quick hypothetical vacation home question as a future investor. I'm curious about vacation rentals that are planned to be rented for shorter periods of time, lets say a rental house is only rented 2-4 days max per client so that prices are easier and can be more available. I would price it to be more affordable and geared towards groups of college students or younger adults. Let's say it is a popular destination 15 mins from a downtown area, and 5-10 min walk to the Beach. Can I assume something like this at its' best, or ceiling, be rented like 80% of the time during the year? I am curious about the ceiling and the best it can get. What I lack is the knowledge of the worst it can get, which I think is what you are talking about in this video. I am thinking it would be reasonable to assume the worst case scenario, the floor, of owning this rental vacation home is only renting it like 2-4 weekends out of the year? I feel like I should consider a property on a "tourist" "vacation" destination to be filled more than the worst most years. Is the average 55% booked during the year worth it if you know it will do fairly well? I think the home you stayed at in the video would seem like a better deal if he was getting more than 8 weeks booked out of 52.
@thomashatesidiots7724
@thomashatesidiots7724 5 жыл бұрын
Who buys a rental in snowy areas? Go for Florida, Hawaii stuff like that.
@smonkey001
@smonkey001 6 жыл бұрын
I don't know. Aren't Grant's Florida rentees all recreation industry employees?
@georgehomfeld4919
@georgehomfeld4919 11 ай бұрын
It’s a billion dollar business. Vacation rentals are awesome !
@cbara568
@cbara568 4 жыл бұрын
Man that alarm clock is driving me crazy
@samowen433
@samowen433 6 жыл бұрын
Do you use property management companies???
@Palpatine4Senate
@Palpatine4Senate 3 жыл бұрын
oh my god turn off that alarm!
@Thereisalwaysmore
@Thereisalwaysmore 5 жыл бұрын
$20 Mil for a resort home? how much did this person expected to get back?
@vidadivah6145
@vidadivah6145 2 жыл бұрын
Hi Grant thanks for your advice I agree with you have fun God bless you 🙌
@JohnVieceli
@JohnVieceli 6 жыл бұрын
Grant when we playing some backgammon? I used to live up there in Park City. You are right on about the vacation homes.
@greennbean
@greennbean 4 жыл бұрын
No he's not. He used a 20 million dollar home supposedly to make his case. Who the fuck is renting a 20 million dollar home? Vacation rentals shouldn't cost you more than a million bucks. Vacation homes are about quantity. You have enough going then you have a good cash flow. Use that cash flow to look for deals. Don't fake it until you make it like Grant.
@amp7816
@amp7816 2 жыл бұрын
Grant Cordone is ignorant when it comes to STR. It's so obvious he would prefer people just invest in his company that venture in on their own. I started my STR business 5 years ago owning 2 STR properties. Each property gave me a net profit of $275k - 300k NET! If I had rented to a long term tenant, I wouldve net about $12k each per year ea house. Numbers don't lie.
@davec3487
@davec3487 6 жыл бұрын
Grant, why is it that you do not build properties from scratch?
@alisharifz
@alisharifz 6 жыл бұрын
Awesome info Grant, Be Obsessed!
@quietcorner293
@quietcorner293 3 жыл бұрын
What if you're just looking to break even or close to break even so that you have a place for a get-a-way?
@nickwoolery3347
@nickwoolery3347 6 жыл бұрын
Is it better to stack up money until you can buy some apartment units or start with single family homes and work your way up??? @grantcardone
@oscardominguez1680
@oscardominguez1680 6 жыл бұрын
Yes what
@7omm
@7omm 6 жыл бұрын
grant advised to build your money up, and single family homes are stupid unless your silly rich, run through his videos anytime you have spare time and you will here him say it multiple times.
@eljuancho2
@eljuancho2 6 жыл бұрын
Buy 5+ apartments first, buy it cash if possible, when you paid them off, same 100k-200k buy more apartments or sell yours, to buy more somewhere alse, only buy high return on investment rentals.
@7omm
@7omm 6 жыл бұрын
although ideally Grant says stay out of buying less than 16 units as he says they often struggle to comfortably pay you if you loose a couple of tenants etc. keep doing whatever your doing to stack the cash until your a little bigger then invest in 16 or more units (this is what @grant cardone would say).
@7omm
@7omm 6 жыл бұрын
my man uncle G - told you he would advise to stay out the single unit game - unless that is what your doing to stack your cash ;-)
@crazy3rdgen
@crazy3rdgen 4 жыл бұрын
Vacation homes can be very lucrative.
@EpidemicVImmunity
@EpidemicVImmunity 6 жыл бұрын
1:53 "nigga its impossible to make money on a house like this " Uncle Grant Cardone is about to put out a mixtape on real estate.
@Steamboatsmyhome
@Steamboatsmyhome 6 жыл бұрын
BS - Buy SMART. Buy in areas that are more affordable. $1,000,000 investment and make $75,000 per year of rentals. Add on appreciation. And owners stay and enjoyment. Owner enjoyment is key.
@thecloud9show
@thecloud9show 6 жыл бұрын
Nice insight Grant. Thanks for sharing.
@anthony-cm3yj
@anthony-cm3yj 3 жыл бұрын
Just a broke kid with a dream to just for a minute live a life like this, this home is beautiful
@Realist2001
@Realist2001 2 жыл бұрын
Where is that home? That view is amazing
@ElephantWhisperer222
@ElephantWhisperer222 6 жыл бұрын
Park City?? I’m a half hour away I’ll stop by tonight tho
@LimLux
@LimLux 6 жыл бұрын
That fukkin alarm.. But ye, invest in smth that gives you money monthly, value goes up etc
@itsjustmyopinionbut1671
@itsjustmyopinionbut1671 4 жыл бұрын
Lol it couldn’t be that they made too large of an investment for the potential return? Rookie mistake, really. #1 Invest reasonably with the prospective of return. You’re never going to make back 20 million on a vacation rental ... that’s just ridiculous. #2 you never get into a rental of any kind expecting to rent out at max capacity, especially a vacation home. Rule of thumb for me with a vacation home Is to never go into debt for one by buying within my means, and to expect ab 25% to 35% capacity for the year. If it turns out to turn a nice profit based on this, it’s a good investment. #3 Location, location, location. You can’t expect to rent out a mansion in the middle of no where suburbia America and have it sell like hot cakes. Should be common sense but, go where there is a demand.
@tskjesusfreak
@tskjesusfreak 6 жыл бұрын
Grant's life is way to much of a head ache for me. I really don't want to do all that work. I figure I would just need somewhere of $200,000 to $400,000 to be set for life. I be happy with living in an RV on a small piece of land that is under $50,000.
@kevinfrancis6759
@kevinfrancis6759 6 жыл бұрын
tskjesusfreak Much more realistic IMHO!
@samir9504
@samir9504 6 жыл бұрын
most people are satisfied with mediocrity, people like me aint
@whatever_it_takes6691
@whatever_it_takes6691 6 жыл бұрын
Sami R the smugness is real
@tjpenton7788
@tjpenton7788 6 жыл бұрын
Good shit!!
@starshockey11
@starshockey11 2 жыл бұрын
I’m sorry mate, but you simply do not understand the value of short term rentals. Your lane is long term rentals and it’s completely different than investing in a short term rental.
@John-uo1qf
@John-uo1qf 3 жыл бұрын
If he bought it for $10M and it’s now worth $20M don’t tell me it did not make money
@myfavorittools
@myfavorittools 6 жыл бұрын
brother grant good to see you!
@workingclassheroes3289
@workingclassheroes3289 6 жыл бұрын
The white 10x beanie is legit 👌👌👌
@abumannocchi8048
@abumannocchi8048 6 жыл бұрын
Good short content!
@ParkerAntoine
@ParkerAntoine 6 жыл бұрын
That location is damn nice
@HaydenIngham
@HaydenIngham 6 жыл бұрын
I agree theres no money in that type of property
@wirecoaching477
@wirecoaching477 6 жыл бұрын
Right
@GreenTeaViewer
@GreenTeaViewer 6 жыл бұрын
go big with your kids!
@FreedomAtRisk
@FreedomAtRisk 3 жыл бұрын
Literally the hottest market right now is Lake Tahoe
@ritzyllama
@ritzyllama 6 жыл бұрын
Was this taken up in Whitefish? Definitely looks like the Swan Mountains and the flathead valley in the background!
@highstakes1235
@highstakes1235 3 жыл бұрын
Wow that looks majestic
@bepskekaatje424
@bepskekaatje424 5 жыл бұрын
Vacation appartement buildings though
@adilaziz184
@adilaziz184 6 жыл бұрын
Real estate best investment...go big...✌
@djdeluxe101
@djdeluxe101 11 ай бұрын
what if the house is payed off ? you dont know about realstate
@chaank1069
@chaank1069 2 жыл бұрын
Do I hear a phone alarm?? Lol or just me.
@randydavis8272
@randydavis8272 5 жыл бұрын
Nice view
@justussmith8508
@justussmith8508 3 жыл бұрын
This dude is full of it. There are many different ways to make money in real estate. Vacation rentals actually have way better margins than long term rentals; you just have to do your research and buy a property suited to tourism and at a good price. He’s bragging about the number of properties in his portfolio like it’s a good thing that you have to have thousands of properties to be wealthy due to those itty bitty profit margins. Terrible advice to avoid such a lucrative form of rei when the travel industry is so strongly trending towards vacation rentals over hotels. Want some fun numbers to consider? I’m pulling in nearly 20k net a year on a property that cost 48k. Tell me how that kind of roi is a bad investment.
@soypeanutbutter
@soypeanutbutter 6 жыл бұрын
Look what I found, Grant Cardone
@boxinglive4101
@boxinglive4101 5 жыл бұрын
I'm about to buy a vacation home .. but .. I only need to rent it 45% to break even .. maybe even less.. the rest of the time I'll be in it .. lol I think I should be good.
@palmbeachvinyl232
@palmbeachvinyl232 Ай бұрын
$75k per week? Cmon, don’t take advice from this guy who is totally full of it. Better yet, don’t take advice from someone who would spend $75k per week on a rental. So much bad info on the Tube these days.
@wirecoaching477
@wirecoaching477 6 жыл бұрын
Right, Ive seen vacation homes take investors under
@malcolmnguyen9572
@malcolmnguyen9572 5 жыл бұрын
No time to watch this video right now but as the title lists vacation rentals are negative?? I make 30k passive income on one of my vacation rental each year that I rent out and get a property manager to run for me??
@davec3487
@davec3487 6 жыл бұрын
Wow, people live like that!
@tonybrowns649
@tonybrowns649 6 жыл бұрын
Thanks Grant for the Motivation, Cheers to simple living, High Thinking. #HareKrishna #Vegan #Wisdom
@greennbean
@greennbean 4 жыл бұрын
If this douchebag motivates you ur a tool
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