Table of contents
1. Overview of Grant Cardone’s background
1.1. His passion for Real Estate
1.2. The Turning Point
1.3. Grant Cardone- The Used Car Salesman
1.4. His First Dance with Real Estate
1.5. Cardone University is Born
1.6. The second time’s the Charm
1.7. Cardone Acquisitions
1.8. Cardone Capital
1.9. Bottom line
If you’re looking for a real inspirational success story to motivate you to start your business, then you’d be hard-pressed to find a more relatable story than Grant Cardone’s rags to riches journey.
While he didn’t start dirt poor, he managed to pull himself out of the obscurity of joblessness and addiction to become one of the most influential people in the real estate industry and a multimillionaire.
He’s also one of the bestselling authors in the New York Times, the number one sales trainer worldwide, and a world-renowned speaker on a variety of topics including entrepreneurship, investing, finance, real estate, and social media.
What’s more, in 2017, Forbes ranked him first in their “25 Marketing Influencers to Watch” list.
Most of Grant Cardone’s wealth comes from 5 of his privately-owned companies, which are estimated to generate annual revenue of over $100 million.
Cardone started his main business, Cardone Training Technologies, to provide interactive sales training to entrepreneurs, small business owners as well as Fortune 500 companies.
Using the wealth generated from his real estate holdings, he’s been able to amass a net worth of over $300 million by the age of 60.
His quick wits, straight-shooter personality, and years of experience have made him the go-to person for insights and commentary on real-life issues.
Grant Cardone attributes all of his success to hard work, dedication, and a talented team.
His story epitomizes the true spirit of a hustler, and he was able to do it all without relying on his family’s inheritance, which proves that regardless of the situation, anyone can become great.
Cardone’s passion and enthusiasm for real estate started at a young age when he and his father would go visit properties as a family outing.
It sparked an interest in the young Grant Cardone, and by the age of 15, he was hooked, line and sinker into “this real estate thing” as he likes to call it.
In fact, to this day, Grant Cardone enjoys taking his wife and children to shop for real estate properties.
By the age of 16, he knew exactly what he wanted out of this life; to build wealth, but even he couldn’t predict how big his net worth would come to be in 2020.
However, building wealth isn’t easy, and in his journey to becoming a multi-millionaire, Cardone faced more than his fair share of curveballs.
Fast-forward nearly a decade later, and he graduated with a bachelor's degree in accounting.
But because of bad company, instead of looking to the future with the optimism of a recent graduate, he was staring down the barrel of addiction and unemployment.
Shortly after, with the help of family and friends, Grant Cardone decided to go to rehab to get his act together and take charge of his life.
Before long, he got a job as a salesperson in the automotive industry selling used cars.
At the time, Cardone didn’t care much about selling, and he vividly recalls that he wasn’t a fan of it. However, he decided to become better at it despite not showing a natural knack for it to the point that his superiors considered laying him off.
But that didn’t stop Grant.
It only drove him to want to perfect his skills and become a master of his craft.
Five years later, he had saved enough money from his six-figure paycheck to stop selling used cars and start helping second-hand car dealerships improve their sales with his sales training programs.
Cardone went on to grow and improve his sales training program to the point that he could now cater to all kinds of businesses, including startups to small and medium-sized enterprises (SMEs) to Fortune 500 companies.
Using some of the profits generated from his early days, Grant Cardone went back to his first love--real estate.
His first investment was an income house property that was designed to be a single-family home that he subsequently leased out.
Everything was going smoothly until the tenant decided to vacate the premises, and then it all went south from there.
He was now losing a ton of money each month and wasting a ton of time finding tenants to fill his vacant room.
That didn’t sit well with Grant Cardone, and he decided to cut his losses, resell the property, and never looked back.
He decided to shift his focus to multi-family properties and steer clear of single-family homes from then on.
But it would take him five years to get his first multi-family property.
Meanwhile, he dedicated his time and energy to doing what he does best, helping businesses increase sales by providing some of the best training programs—this was around the time that Cardone University came into being.
When it comes to investing in the real estate market, timing is everything, and for you to be able to identify the right moment, you need to be patient.
These are two qualities every successful entrepreneur has, and Grant Cardone is no exception.
Cardone started watching the market, conversing with investors and real estate agents to better understand the nitty-gritty of investing in properties.
In fact, in one of his tv shows, he revealed that all of his knowledge of investing in real estate he learned on the job and not in school.
By looking through listings, talking to agents, reviewing different deals, etc., Grant was able to understand the lingo as well as the documents involved in real estate transactions.
Armed with the right information and a fat check, he acquired his first multi-family (with 38 apartments) residential building in San Diego, California, which set him back a cool $1.9M.
A month later, he bought his 2nd multi-family complex similar to the 1st, and the trend continued, and this was around the time that Cardone Acquisitions made its debut.
As of writing this, Cardone Acquisitions—a subsidiary company of Grant Cardone, handles and manages his real estate business and is estimated to be worth about $350 M with apartments spread over the country, from Tennessee to Florida to Alabama to Georgia to Texas, etc.
Grant’s most significant real estate investment was in 2015, where he even set the record for buying the most significant number of housing complexes in Florida with a total of 1017 units for $59 M.
But its worth noting that the Federal National Mortgage Association partially financed the purchase.
He has since grown his real estate empire to an estimated 4000 units and has made property transactions worth over $700 M.
Add that to the $800 M in assets—a majority of which he owns, managed by Cardone Capital—a subsidiary company, then you’ve got yourself a pretty big portfolio.
When you combine the net worth of all his companies along with the income he generates from YouTube, social media, book deals and other sources, well, Grant Cardone’s net worth in 2020 comes pretty close to a billion bucks.