Homeownership has long been seen as the symbol of prosperity and security. Unfortunately, homeownership remains out of reach for some Americans; those working in real estate often turn to deals offering high returns on investment as a means of circumventing the housing crisis.
Some investors might look toward commercial properties like apartment buildings and office parks; for others it might mean turning to single-family homes or condos as the solution.
One way of doing that is to purchase properties that are currently vacant or need to be renovated. These types of properties often cost less than what would be necessary to construct them new, known as replacement costs; an indicator of whether a piece of property represents good investment potential.
If you’re new to investing, the first step towards becoming a successful real estate investor is obtaining proper training and knowledge on how to do it correctly. Grant Cardone is widely recognized as an expert in this area and regularly speaks on this topic.
He has published multiple books on this topic and amassed an online following of over 15 million. Through his foundation, his influence is used to give back to the community; through it many young entrepreneurs have found success in business and real estate ventures thanks to him.
“Real Estate King,” airing June 28 on FYI, features the man behind his real estate empire meeting with real estate entrepreneurs who present projects to him for funding consideration and eventually selecting one to fund. Filmed across several cities such as Houston, Los Angeles, Tampa Bay and Miami;
Grant Cardone has leveraged his huge social media following to sell his brand of unorthodox financial and real estate advice. His booming voice promises listeners that his strategies will awaken America’s middle class and usher in a new economy; yet Cardone’s actual rental housing strategy may not be particularly groundbreaking; rather his marketing allows him to portray hyperaggressive rentierism as financial common sense.
Cardone employs what is known as a real estate syndication fund to promote his strategy of real estate investment: soliciting funds from his followers, pooling it together and purchasing undervalued multifamily properties to increase rents and passive income quickly while taking in exchange fees, acquisition fees and a percentage of overall profits as payment for his efforts.
These investments are offered through Crowdfunding HQ or other crowdfunding websites and can be risky investments; the Wall Street Journal reported in March that a Dallas-based syndication fund run by one of Cardone’s former colleagues collapsed due to increasing interest rates.