All right here we go gr Cardone welcome back thank you blad we're actually your beautiful welcome to my home welcome yeah you are welcoming us to your Malibu mansion yeah what hey let me ask you what defines a mansion ooh I think it's got to be over 5,000 square 5,000 ft I think which is ridiculous yeah I've got 7,000 so so you have a man I have a mansion I have a beach house this is a beach house I'd refer to this as a beach House not a mansion right 10,000 square feet in 2022 you
bought this for $40 million uhhuh right now there's rumors that you're trying to sell it yeah of course yeah I'm a seller dude I sell every you know guys like me sell everything you know there comes a there's as they say there's a price for everything okay so when Bitcoin hits 70,000 I said hey I'll I'll sell my uh 605 house in Miami um for I forget what I asked for 646 Bitcoin okay and then uh it did really well we we got some action on it and I said well maybe I lean into my
Malibu house and see if that picks up some of these Tech guys that that are heavy on the on the you know unless they got Diamond hands in this BTC area I'll maybe I'll I'll hick a little bit of Bitcoin okay and you want 65 million for this house yeah okay I wouldn't sell it for less than 65 65 so everyone's listening right now it's not even going To hit the market it's not goingon to be on MLS it's gonna be a private sale uh you know it doesn't matter I mean I guess it could
go on MLS it could it could go there it doesn't matter to me I like helping out the broker community and real estate agents they need a lot of help right now right they're struggling yeah they're actually lowering their fees I heard like they're they're negotiating their fees used to be 3% yeah the look The residential real Estate's always been overpaid no offense to anybody that's watching this right now but in the commercial world or in the apartment world I could do a deal for 100 million and buy buy a piece of real estate we're
doing a deal for 150 million another one for 130 right now two apartment deals in Miami the total fees on $280 million will probably be less than 500 Grand on on $280 million wor of real estate yeah that's crazy that's almost nothing yeah It's it's a half a percent it's less than half a percent and real estate agents complain about getting threes and fours and even fives and sixes yeah so it's got to come down well you feel the US is on the verge of recession right now yeah I think the US is in a
recession we're in a recession I think firmly long uh two years of recession but but we don't feel it because we're told that's not Happening but the numbers don't really support the definition of a recession okay only because you take only because you include the job numbers but when I was growing up before you young man uh recession was two qu of um uh shrinking GDP now they added jobs to that right to balance it out but if you added credit card debt close the dictionary and just talk to your neighbors and say hey how's
why are you using your credit card at All-time highs by the way glad all-time highs the highest amount of credit card debt in the history of plastic H at the highest rates in the history of interest rates why if we're doing so well is the average American family banging a plastic hard and and let me add this okay you know I'm never done with one bro um 33% of all Americans are holding a second job right now to pay their bills 33% 33 1 thir one/ third and that Is the highest level since World War
II ended well okay but to be fair give me one more give me one more give me one more before address your point goad this is Biden economics bro okay okay um because this has all happened in the last three or four years we have used car dealers around the country have their inventories are exploding this is a real indicator of like okay we got problems now yeah the opposite of what was happening during like the pandemic Remember you couldn't get inventory now now now they're Surplus inventories uh Tesla just put uh Herz just sold1
19,00 ,000 Teslas I heard about that at a $20,000 a unit loss the the the when us car prices start start going down like that it hurts the American Consumer you have rents that are flat I was talking to Barry starick star Starwood he's like I don't know why the FED doesn't talk to us we have 140,000 units we know whether the rent's being Paid or not rents are flat or decreasing mortgage applications are at the lowest level of 15 years so all those things well because interest rates are Skyhigh well interest rates are skyh
high so people aren't getting mortgages because I thought the Fed was supposed to be controlling uh these things well they're keeping they're keeping the interest rate where it is and what I want to say why but but why they they they had the the the Highest uh raise 500 basis points yeah of Interest Point supposedly to control inflation if it controlled inflation then why is chicken so high bacon so high milk so high produce is so high McDonald's is suffering Starbucks is suffering their sales are all 15% at both loc both McDonald's and and and
Starbucks so that's hitting that everyday person not rich people like you everyday people your listeners are the ones that are being screwed right now Well I mean in terms of the second job I think the numbers are a little bit skewed because this is the first time in history that getting a second job could mean Postmates or Uber or something else like that but nobody wants to nobody wants to Uber blad you're disconnected it's easier to get make extra money on the side Postmates is a second job nobody wants to do a second job they're
doing they the number of older people that show up To my door with door Dash and Postmates Baby Boomers 10,000 Baby Boomers are retiring every day right now that's not in the job's number 11 million immigrants not in the job numbers okay we just had a tick up we've had 11 revisions out of 12 months of job numbers in 12 months the government comes out and says look at our job numbers there's 450,000 500,000 the truth is those job numbers actually 11 out of 12 got revised downward meaning The American public was lied to and
40% of those jobs are government jobs not public jobs that means you and I are paying for those jobs well you know you listed out all the reasons you know why the middle class is shrinking and we'll continue to do so you said uh household incomes of the middle class can't keep up with those the upper income we talked about interest rates y you said the you know the middle class is the majority of Their net worth tied up in the equity of their home which is but that's kind of been the case you know
usually most fam's biggest investment is the the home they live in that's been historically the case yeah or or cash or a retirement account or some combination yeah all of which have scammed the American people there's inflation of course we talked about that there's taxes um and of which the middle class pays all the taxes in this country Correct you know um the dollar is getting devalued we've seen that with inflation well the dollar didn't get devalued what it bias well yeah which is what it biases because the $100 bill still says 100 on it
see this is the big scam right here okay the big scam is this $100 when were you born what year what was that what year were you born 73 so in 1973 this said 100 on it yeah it says 1973 down here right yeah full faith of the US government and God we trust it says the same [ __ ] if this is a 1973 Bill okay printed in the year you were born what would it say on it today 100 oh it'd be way less no but what would it say on it it would
still say right here it would say what $100 exactly it should say 11 right because it's worth 10% of what it used to be that's where the scam took place right there right now you said interest rates paid on checking and savings count because because if it said 11 if they had to change the value of it every time [ __ ] you wouldn't keep cash well I mean certain countries have to do that they have to take a zero away from their currency and stuff like that yeah that's right it happens now you said
interest rates uh paid on checking savings accounts have been the lowest level for decades with today's average still being at 0.1% yeah that is true but now because the high interest rates you have savings accounts like apple Where you could get like 4 and a half per. yeah I have some my money in there myself average checkin account or savings account in America pay to the average middle class family in America is0 1% today right and that's true but the fact that it's available into a high anyone could do it anyone can get apple savings
account okay for what they got [ __ ] $12 they earn they earn 4% on this is ridiculous I cannot believe you're defending this position You sound like an elitist flat what happened to you bro I thought you were for the people I thought you were for the people I'm supposed to be the elitist I'm supposed to be the guy that doesn't understand so so if a guy has let's say his average savings account has 800 bucks in it and he earns 4% on [ __ ] Apple listen $800 is not going to help you
in any situ you can't make $800 turning into anything significant any business let's talk about averages The average American in America today is paid 0 1% one 0.1 not not 1% 0.1% interest rate annually because they're keeping their money get a mortgage it's going to be seven eight or nine if they qualify correct okay they can't get a business loan today right they could cross their fingers and hope that Biden forgives them for their college debt if they were stupid enough to go to college I disagree I went to college it's helped Me out eventually
how does it help you how like imely what you've said for the last 15 minutes proves that a college degree is I have a I have a computer science degree from UC but you're not using it I'm using it every day in my business how because V Vlad TV is as much of a tech company as it is okay a you're talking a Content company the back end cost me a million to put together go what we could do with a small staff is what a big company could Do but you could do that today
with AI and not ever ever have to go to college listen you can and you can't you can and you can't I mean you know it's it's it's conceptually an interesting idea but you still need programmers and you still need technical expertise when's the last time you program anything oh I don't program anything but I have a programmer that I work with every day right I I haven't coded in in in decades but what I'm saying is I know how to architect Software okay hey I went to college man yeah I went to college I
got an County degree depends on your major certain majors are more useful than others nobody's ever asked me whether I graduated or not well you never when was the last time you applied for a job uh well more importantly when's the last time I applied for some debt $2 billion worth of debt nobody never ask me no no banks ever asked college degree has nothing to do with a loan but so so so What you just told me what I don't need to get rich in America I do not need a college degree they're not
going to even ask me you Facebook and Google all came out and said they you do not need a college degree to work here anymore okay doesn't hurt and it usually helps okay people with a college degree make it helps people make over a million dollars more on average people in debt blad agree to disagree depends on the College nobody that goes to Harvard or Yale or Princeton complains about their college debt not Stanford Berkeley nobody complains about nobody complains about their college okay now if you go to if you go to he you know
if you go to heeled College like most people do by the way like most people do if you go to one those colleges if you go to like a regular unknown state school then yes how many people qualify to go to Harvard Yale MIT or UCLA Hey listen at the end of the day but how many not that many exactly so what are you talking about I'm talking about I'm talking about people well how many people who get like computer science degrees or or you know go to met school or whatever else they don't complain
about their college debt okay you know it's all about I think you have to teach it more you know approach it more about learning a craft as Opposed to just getting a degree having a history degree from any college is relatively useless having an art degree art history degree relatively useless unless you know you're going into the art world and that's all you want to do in life but having a computer science degree having a biology degree having a mathematics degree that will get you in the door in a lot of places you you're disagreeing
with me 100% okay well you agree or disagree it's $1.6 trillion worth a college debt yeah okay America is suffering man the average person is [ __ ] buried right now I have I have 15,000 families that rent for me like I have numbers on enough people to know whether they're paying 1,800 bucks a month 2,000 bucks a month, 1500 bucks a month 2200 bucks a month these are real families man not some headline by Bloomberg or CNBC feeding you some bull [ __ ] about oh You got to have a higher education you you
know how long they've been feeding that [ __ ] to the black and brown Community your only chance is a higher education by the way we'll give you the loan for free you pay us back one day when you get a job [ __ ] talk about slavery modern day slavery $1.6 trillion do worth the debt and I wasted four or five years of my life 46% of all people that inter College are not out at six years I'm sorry 46% are still not out After four years 64% or spend as much as 6 years
if they finish to get a masters yeah I took four and a half years I took five I took four and a half years would you do it again today 21st century right now ai is right around the corner would you go to college today 100 100% you would 100% if I was 18 again yeah 100% I mean at 50 I wouldn't go but yeah at 18 100% yeah I mean learning how to learn is is a big deal being around people of of you know Who are all except learning learning you know see what's
happening on the campuses this week yeah it's a mess you want to be around that not not around that but that's not happening everywhere yeah okay well you said 10 things you would never do again okay college is number one yeah yeah I did see I'm consistent emergency savings yeah you have no emergency savings I mean look I no not really I don't need any I mean at this point in your life You don't need any but I'm saying I know if you were an average person cuz I I well I am an average person
no you are not 100% you not the average American by any Str of the% I I came from nothing dude like like everything I've done I know I don't I'm not a coder I'm not a [ __ ] podcaster a famous podcaster that spends time with what's your what's your guy's name that talked about you on Saturday Night Live uh Seinfeld yeah Seinfeld Like I don't have that kind of Street Credit so um I I don't I don't need emergency savings this was a bank another bank myth you need three months of savings in case
of the big emergency uh dude if you if you if you have an emergency you need to go to work you need to go hustle is what you need to do in 202 saers stay broke bro in 20122 the media net worth of the average American is $193,000 how how much of that is equity in their home counted as equity in uh not sure M but probably a good nice chunk yeah and it shouldn't be Equity Home should never be considered as a network number but you could take a second mortgage on it it shouldn't
be considered it doesn't matter you need a place to live but you could take a second mortgage and the same place what's what's that what's the what's the point it's a place you live it'd be like Me count I would never do that me counting my refrigerator on my net worth statement your net worth if you own your house outright then then that's part of your net worth no no no I need a place to live right it should not be it should not be considered with an accounting degree in my background in my pedigree
okay the value of your home should not be considered as a net worth item because one it doesn't produce income two it's a liability because you're Paying property taxes you probably have debt on it 1% property tax yeah us 2% in Florida 1 to 2% it's enormous but you're going to pay 1% out here flad you're going to pay 30 years that's 30% it's not 1% it's 30% and it goes up every year Well 30% of the total price of the house over 30 years I mean that's a little different you don't pay it one
year well you pay it every year property tax get paid every year based on the price Of the house if you keep the house 30 years what was it 30% exactly okay what was the maintenance another 1% average maintenance on a home today is 1% a year that's another 30% right taxes when you bought it let's just do broker fees when you bought it 6% somebody took six on the front somebody took six on the back no 3% on the front 3% on the back no it's six dude no no no it's six bro what
the [ __ ] are you talking about you paid six points on your it's six the buyer Buying agent gets three and the selling agent gets three you're taking six six to Total you said you said six and six no no I said six total six total six on the front oh you you sell it yeah yeah yeah right six on the back when you sell it now it got it now yeah no so if it's 100 Grand you paid $66,000 in in fees that is not any value to the user of the home right
and 6% when you go to sell so now you're at six you're at 1 plus one your property taxes that's 8 * 30 is 200 40% you'd have to make 240% if I did the math right no yeah yeah that's right 8 two 240% if you kept the house 30 years to break even and you haven't paid interest on a loan yet which today would be 7 and a half% for another 30 years which is 230% so you have to make 400% on a house for 30 years to ever break even yeah no listen I've
never thought a house was a good investment we talked about this ear if it's not a good investment it's just A place live it's not liquid yes does it belong on your personal net worth I see what you're saying uh I didn't know this was gonna be argumentative I thought this was G be damn with five of these we've done dude like well you said uh you wouldn't do retirement accounts yeah definitely not uh I have a lot of money in my 401k okay I'm sorry thought for you why why do you feel sorry for
me it's a way to put money in without paying taxes on it it's A way for you to be trapped for 30 years well you could pull it out when you're what 63 63 I thought it was 59 and a half no you don't know something like 63 yeah P outx how old are you right now 50 yeah man I about look as good as you when I'm your age 13 years from now will taxes be higher or lower higher you you will wish you have you would have sold them when you were 50 because
you'd pay lower taxes dude you don't pay any taxes when You sell when you when you pull out money out of your 401k if you wait until you're 63 well you start using that money you're going to pay taxes bro when you pull the money out and start using that money you're going to pay taxes you're not paying taxes when you pull money out of your 4 it didn't you you weren't charged taxes while it sat there what's wrong with you oh my god guys Hammer him in the comments right now okay what the [
__ ] happened to you bro With this goddamn degree you got hold on a second I didn't do your research you're not IRS allows penalty-free withdrawals from retirement accounts after the age of 559 and a half penalty-free not taxfree so they're going to [ __ ] charge you a penalty they're going to put handcuffs on you to sell it for then but dude when you're 50 63 years old when you start withdrawing you're going to start paying taxes at that point and The taxes like you said earlier are going to be 41k withdrawals are taxes
in exactly so so check this out oh I see what you're saying okay look what this [ __ ] Biden guy's saying right now your boy the guy the guy you you love so much okay okay look he's saying let's take capital gains to 44% right now which is what 15% now right now they're 19 19 19 he wants to take them to I think 44% Canada just Took them to 66 [ __ ] the last time so so imagine if in the next 13 years you know taxes are going up you said that imagine
that the taxes aren't 19% capital gains but they go to 39 or 59 or 66 the way I you're say the way candidate said then they're going to get you bro now I believe that Wall Street and the IRS got together and said hey we want to capture this money for long periods of time and we'll bu benefit you by by hammering these people hundreds of millions of Them by the way trillions of dollars okay trillions of dollarars $ 38 trillion dollars is sitting in IRAs in 401ks 38 trillion dollar they you right when you
pull money out it gets taxes income but the whole time you put it in taxfree and it grows yeah exactly so so it could grow bigger because you put more in it GRE but the problem is you pull tax on the back the problem is that was also being devalued for 30 years this is true okay So how much you got in the retirement account let's say you got 2 million okay okay if inflation does exactly what it did in the last four years you got what 13 years if it does in the last four
years your account got hammered by 500 Grand 25% at lost in value US dollar if that continues and it will yeah because we'll continue to print money you could literally lose 100% of the Val value of your 401k simply by the cost of goods going up and the purchasing power of Your dollar going down yes but if the money is actually growing faster than the rate of inflation then you're okay yeah but you're not my investments grow faster than inflation well would it grow last year oh man I think I made about 37% last year
no you didn't yes I did no you did I'll bet you another 100 you didn't make 37% but if you did great man were you in all tech stocks uh all my money is in Amazon Amazon Google and Tesla well good but you did I I I can Tell you exactly exactly you but you're not a mutual funds and you're in something else are you no no no I'm in actual individual stocks my 401k is all in S&P 500 okay but my my personal investment is in those three companies okay and well good for you
so you're a rich dude D you're an exception to the rule I'm okay I'm not as rich as you hold on I'll even tell you hold on no no if you if if you're in that bro You you you could be 2023 yeah I made 83% off my stock portfolio yeah good for you now in 2022 I lost 40 I lost you sell any of did you so you ain't made [ __ ] no it's all g a [ __ ] bro it's like me looking at some hot [ __ ] and not hitting it
I didn't get [ __ ] I looked at it in 2022 I lost 43% but I didn't sell I bought more good for you so the next year I made 83% bro you're in elst I'm an elitist okay you're an elitist you're A you're a goddamn colonist I'm a colonizer yeah you're a colonizer somebody call me a colonizer recently I'm like what what is that oh that's a Kendrick Lamar line oh is it that's that's the new uh culture vulture honky or Cracker whatever colonizer yeah that's a new that's a new term I said I
I it sounds good okay uh no chasing relationships yeah I popularity and approval yeah I wouldn't I wouldn't I wouldn't if I was a young guy on the way Up right now I would not be chasing [ __ ] every day uh drugs alcohol and partying definitely you've had your you know your time with drugs yeah um no investing mutual funds or stocks yeah right I disagree with you on that but that's cool God damn you already interview yourself buying houses cars and watches I I love my watch collection though what do you got on
right now what you got P yeah you got a protect phip M those things actually Hold value not really yes they do they're getting hammered right now are they everything every watch watch in a while every [ __ ] watch out there every watch Rox The Paddock the Richard the Richard has gotten [ __ ] slamed oh the Richard got slammed I was actually thinking about buying one a few months ago yeah don't no piece of garbage you three of them you own three of them yeah all right sell me one of them give me
a good price okay why but why I don't I Didn't buy it it's a piece of garbage like uh therapist analyzing your personal issues definitely dude would not touch those guys those guys I got a great therapist actually God damn dude I don't even know why has helped me through some hard times good good for your therapist good for you we're not even sure you're through the hard times you know uh comparing My Success to my upbringing that's actually a great point because a lot of people you agree with a Lot of people look at
how they grew up and feel they've made it just because they're farther than that but you're right you should have Higher Goals than that if you grew up poor the fact that you're middle class my my grandparents both Italian immigrants okay one was a ship Builder the other one was born on the boat on the way over never ever had papers to live here illegal immigrant his entire life these People had nothing man and you know they they if I compared my life to theirs like I would have stopped a long time ago yeah because
compared to them compared to somebody on the Gaza Strip today yeah like it doesn't matter no no if you're in America no you could be homeless shaken and you're still better off than somebody in the Gaza Strip you can always make sense of somebody being worse off than you and that that I did This these are the 10 mistakes I made growing up as a kid yeah I mean Richard Branson said that the way he became successful is that he created unrealistic goals and although he wouldn't always hit them he would go farther than the
realistic goals because you know I mean so it's like if your plan is to make 100,000 this year yeah say 500,000 instead yeah now you may not make 500,000 but you might hit three yeah if your goal is 100,000 you would Stop when you hit the 100,000 and You' never make the other two you probably you probably won't hit the 100 you probably come up short I've never hit any of my targets really never I've hit a few I've never hit any man I've hit a few uh you said you recommend buying businesses instead of
starting a new one you said I will start a business today dumbest most selfish thing a person could do you mention how Elon mus didn't start Tes Tesla he actually bought Tesla Yeah what would be a business that you would buy right now well we just bought one uh I was telling you about earlier 30 months ago we bought a bought a guy that's in the re regenerative uh Health business they were doing 250 Grand a month he had about I don't know guy probably had 80 customers uh 30 months ago we have 125,000 customers
now you were telling me about this crazy so I bought a business you know I bought something Already there now we've added a bunch of stuff to it but but this is sort of let me just give you another examp this is kind of a unique example because not everyone has a marketing arm to kind of blow something up like that like if an average person bought a vitamin business let me give you another example like I would go buy a laundry mat today great business it's not going away yeah you know you go go
buy a laundry mat guys's been there 15 or 20 years I would Go buy cosmetologist you know these places where they're doing butt injections and Botox and okay you know the red light therapy beds and the Rejuvenation make you look pretty dude I would go buy one of those find somebody that's tired doesn't know how to Market they already have a location uh a roofing company HVAC company these are all Dennis Dennis a chiropractor and and and consolidate those most people do not there's 33 million businesses in America most of them do not know how
to run a business and they're tired and then back to that 10,000 Baby Boomers there's 10,000 Baby Boomers uh that are retiring they owned some business or had a little deal and they're tired they're just tired 10,000 or 10 a day 10,000 a day okay retirees a day a day got it some of those are business owners true true you say quit watching people on the internet quit watching these guys they don't know anything including Me shouldn't be watching me you should be watching somebody like you know I'm on the I'm on the I'm on
the move yeah you know watch what I do don't what I not don't watch what I say yeah like I like I listed this house okay believe me when I sell it don't don't believe me when I list it right listenting doesn't mean anything no like but but I would tell people hey go watch people people that are actually making moves huh and and big moves learn learn From the top of the food chain learn from Warren Buffett he's 90 [ __ ] 8 years old he's done he's made some losses like study his whole
career don't study some guy like me on the internet that's like look look what I'm doing like I'm marketing man oh no I mean listen my whole financial blueprint came from Warren Buffett when I first start making money unless I done a lot of dumb stuff from buying a kilo cocaine to to investing you know giving all you know All my savings to a real estate guy who end up stealing it all after he got busted yeah you know just dumb things to try to flip your money quickly when you don't have a lot of
money when I started making money I said okay this time I'm going to do it right who is the Warren Buffett of real of Stock Investing yeah yes War who's the Jordan no sorry who's the Michael Jordan of Stock Investing which is Warren Buffett I read his book and then I learned that Benjamin Graham Was the guy he learned from so I read Benjamin Graham's book and from there I made millions of dollars yeah investing in their overall MIM model yeah just mimic Master yeah it's not that hard that's what I did so like I
I was never going to invest in stocks it wasn't my thing but but I learned what Warren did in stocks applied it to real estate yeah you know all all the things that he talks about hey don't have one exit if it doesn't cash flow don't do it uh Better to pick a great asset for a fair price than than than than a bad asset at a at at a great at a great price you know all that [ __ ] dude never have one exit be greedy uh when others are fearful right now dude
we're being greedy yeah you're buying stuff up Goblin [ __ ] real estate up I got a billion dollars I'm going to I'll close in the next 90 to 120 days a billion dollars a billion dollars on what maybe three Billion actually I'm sorry seriously I have I right now I have I have uh 3,000 let me see what is that 4,200 apartments in play and May maybe 42,000 trailer pads trailer pads meaning what what's a trailer pad trailer pad is where you put a trailer so trailer parks yeah aha is that like a cuz
when you think of trailer park you think trailer trash you think of Marshal matters yeah exactly Eight Mile exactly you watching too many movies okay you Say there's high-end trailer parks well there's it's affordable it's affordable living dude not highend but it's it's affordable living okay you know and that and that's one of your big Investments we're looking at it oh so you don't own it yet I'm in play so do you own any trailer parks right now no so you're about to get into the trailer park business you're about to be a slum Lord
man you're about to be that's not slum Lord no I'm joking I'm giving you a hard Time but what I'm saying no no but but but I'm just saying like I'm about to make a move right now like I've had you on you've had me on a bunch of times you go back and watch the shows and I said hey I'm about to do this that's why I warn people look don't listen to what people say listen listen and see if you can match it up with what they did you know like I said hey
don't buy a house it's stupid and then I bought two of them right and I bought one and by The way what do I tell you stupid don't buy a house I'm still telling people it's stupid it's a luxury but I'm already not an investment I've arrived at a place where I'm like okay I'm going to do it now now it just so happens like I said it's a luxury yeah but in my case in your case it's a luxury in my case I'll actually make money you won't make money on your house probably not
but I'm not I'm not planning on it no you're not trying to My both my houses are like they're they're this house right here is you can't you can't replace this house like it's impossible yeah it's one of a kind it's it's a freak house man yeah my espcially in Malibu yeah my house in Miami it's a freak house like it was a Tommy Hil figers all yeah yeah yeah but it's on the beach there's 65 homes and all of Miami all of Miami that have sand huh there's 6 million people live between Fort Lauderdale
and Miami and I have one of 65 houses that have sand in front of it private beach this house right here it's like it's a freak house that's that's all I'm saying so when I tell people man don't buy a house is a bad deal I'm just telling people like on the come up on the way up get income don't don't get a place that locks you down don't even start a family early wait don't chase [ __ ] early don't you know because you don't have anything to offer Anybody you don't even know what
to do with it when you get it dude like TK Kirkland said no no man without $25,000 in his bank account should be allowed to have sex with a woman dude you got nothing to offer I mean you you you can't even last you know like it's it's it's an embarrassment yeah it's a it's a weird trick I think God you know made on us where you're young you got all this [ __ ] energy and you don't you don't Know what to do with it yeah and by the time you know what to do
with anything you don't have the energy anymore it's a weird trick well you filed aund million defamation suit against former uh T-mobile CEO John Lear Leisure Leisure sorry how's that going it's uh it's going it's going to be a process okay so it hasn't been thrown out it's going forward he he uh uh he he uh him and his people um put in a motion to dismiss That was denied yesterday what exactly did he say about you uh well you can hear you can listen to the clip well can you can you give me an
overview he he defended my name my brand my family uh um uh he he damaged my businesses my trust amongst in amongst the community um you know but I'm not going to repeat what he said and this is what he's banking on by the way in fact he he even said that you will never sue me because you don't want what I said About you played over and over and over again and I said 'well you seem to not understand technology because what you just said about me if it gets picked up by any of
the click baiters Vlad TV or the likes and gets replayed over and over there will be billions of dollars of Damages I actually found the quote do you want me to say it out loud or no you Say whatever you want it's it's your show so uh he called you the biggest [ __ ] artist on the planet yeah that that's not all it it gets way worse uh yeah he called me a pedophile well he calls you a pedophile thousands of people oh tens of thousands of people have heard that this has been played
millions of times to millions of years now well that's pretty serious being called a [ __ ] artist is no no call me a con artist Too and double down on it over and over huh [ __ ] artist con artist and then said I predict Grant Cardone will go to jail for fraud okay he said that I had committed fraud on thousands of people multiple times wow he said that I was living beyond my means and he's never looked at any of my financials huh this is a guy CEO T-Mobile former CEO right he
has former CEO T-Mobile $143 billion company was Paid $300 million to leave um his educ that you value so much is in accounting so he is edified by people because of his accounting degree and actually talked about how that was his strength he had two strengths accounting and marketing and if you have a background in accounting bro and you run a $143 billion firm Vlad okay tens of Thousands of employees you know how net worth works you know how Financial State works you also know you cannot say what Somebody's Worth or not worth or whether
they're living beyond their means or not without saying oh you know I've seen their finances yeah on top of this when you say that and your master is in accounting and your minors in marketing you have to know how much damage this is going to do listen I am in your house right now I Have been to your office I have never even considered you living beyond your means on any level you have a whole compound office compound in Miami this is a 40 to $65 million home there's no debt on this house by the
way he says I'm in too much debt I'm gonna lose my debt to the banks right you bought this in cash yeah right I bought my house in cash there's nothing like having a d to your own house I bought Malibu in cash yes the other House you didn't okay so there's $105 million where the property's paid for in cash and but but then he comes in and says and he knows who's in this Audience by the way he knows these are people that are considering investing with me considering going to my my conferences that
are partners with me in businesses okay I have 189 licens around the world in my name and these people are all saying dude I had a guy that wanted to do business with me and they heard the Interview Cardone Ventures it does $125 million a year we we we charge anywhere from 40 to 400 Grand to consult the company they're like people withdrew because they heard this interview so you have actual damages my children my children have to hear their friends say I heard that your daddy's a [Music] pedophile okay so you're suing for 100
million oh no no no less than $100 million in Damages okay and that's me Personally that's not our company's but would you settle for 50 million before it goes to court that's that's that's just ridiculous cuz most most of these things never make way more than $100 million weather damage this year okay but you know that what 95% of court cases never make it to court you do you know how many defamation cases have been won in the last three years no yeah and what they are look at Rudy's case Rudy Giuliani yeah look it
up he lost what what did he lose defamation it it was Milli two people with nothing look it up so how much how much juliani yeah look at the Giuliani defamation case I owe you a $100 too for the Michelle the Michelle BET right exactly I'll take that I'll bet you 100 Grand I win this case upward above the number I'm not betting you 100 Grand that is not above the number by the way where did Rudy where did Rudy get $148 million loss in his defamation case this is this is about um it's going
to bankr this is the false claims about the voting fraud and stuff yeah 148 two people they have no income I'm one [ __ ] guy with a big brand big name we do $650 million a year in Revenue $650 million a year wait wait wait wait wait hold on slow out no no I sell out events I sell out events with [ __ ] 34,000 people in it you think that you Think that the some of the [ __ ] you should play the clip and listen to it yourself okay no play it right
now play the clip find the clip and I want you to listen to it and you tell me if you didn't know me and hadn't been in my house met my kids met my wife I haven't met your kids yet met your wife though okay if it would not affect you you areg [ __ ] artist on the planet who talks about being a recing Addict call drug well you are I mean you're not recovering but you're a former drug adct we talked about this only him holding wine and whiskey and everything else so basically
suggesting I've relapsed oh okay I don't get that impression either I haven't seen you do any drugs around me no no B Bas basically he's accusing me of some drug problem that I don't have again he's damaging defaming my reputation he didn't go and dude it's Not one thing watch watch how many things he he hads on let's play it just a drum I a drama had a drug problem I never had a drinking problem hey so this is you talking to him yeah on in a live in a live room on a live room
yeah hey gr how much the world sees a bation between a drug issue and an alcohol issue what what do you know about I know quite a bit I've never had a problem with alcohol you talk about my life and my recovery and the whole deal but You're out drinking yeah I don't what's the purpose well I think the world might have a problem with your story Brent see he's suggesting that I'm not trustworth this this is he's going to get why are you arguing with him in the first place what led up to this
AR what happened was We There was a clubhouse there was uh in back during Co there was an appol Clubhouse still still around I just did one recently yeah but I mean it was rocking dude it there was [ __ ] Millions of people on clubhouse so John and I would go into rooms and provide education inspiration answer questions and it was very friendly 2021 was extremely friendly we we raised a lot of money there together and then something happened dude after the Mandate of the vaccines okay John was very Pro vaccine which I am
too good but he were you out doing videos well were you doing videos as you cooked a Meal in your home by yourself put your mask on even when you're home by yourself no thank you okay were you did you do videos of you running in the park by yourself with a mask on guys do your part that's silly now so we would debate these kind of things okay and I'd be like dude I ain't taking that [ __ ] shot okay it [ __ ] he he [ __ ] went [ __ ] whack
on it it bothered him that I had an opinion he claimed that I'd killed tens of millions Of people because of my view so and then something happened after that where it wasn't friendly anymore and he started becoming def he started defaming my name and my brand that reached up to this point I said John I text him I said look if you do this again bro I am going to stop you the last warning this is it it's over after this it's no more fun okay uh and and this happened okay and and then
the courts have dismissed his motion to you Know or denied his motion to dismiss the case so it's going forward so the case the the the courts clearly feel you know there's something here right well you actually have the money to sue somebody like this you're going to spend millions of dollars in this L right over time look I just because it's going to take years for this to to happen it's going to take whatever it takes right okay I but in general this Is not something that happens in not only not only will he
know how serious I am about this but every [ __ ] YouTuber click baiter podcaster troll out there I'm just warning everybody right now I remember in our last interview you were talking about suing a whole bunch of this will not this will Grant Cardone will not stop here okay just watch me from the last [ __ ] 30 years and doing what I say I'm gonna do well I've never said anything about I going to change I Am I my goal My ultimate goal here is to one stop this make 100% get an apology
uh that that that will an apology stop the lawsuit no okay not a [ __ ] no I'm going to get an apology that says he's not a pedophile he's not a fraud he's not a con artist he's not a bullshitter I've never seen his books I have no idea what he's worth John don't you know he's gonna have to make that claim and but most importantly the other thing that I want to do Here is make sure uh that I'd love to get a law pass where people can't clickbait like this and hide under
my opinion so and so said without by the way providing facts just provide me like a disclaimer hey man I know this to be true because of bing bing bing then you could say anything you want because because if I rob you and you saw me robbing you then you can call me a [ __ ] thief and that's not defamation right truth can never be defamation the Truth is never defamation yeah but if you have no [ __ ] proof okay and you've never done any investigation to just slander and liable and and and
defame somebody with the intention repeatedly by the way knowing as a marketing is a [ __ ] top 10 CEOs in the world bro how do you [ __ ] defend that yeah I didn't know yeah no I feel you hey man I hope you win I'm rooting for you oh I'm a [ __ ] win I'm rooting For you I'm going to win and [ __ ] uh you know because it's the right thing I've never sued anybody in my life never initi you you've been sued but you never never initiated a lawsuit until
now that's right okay 66 years so you you know I'm I'm serious about it arold Schwarzenegger spoke at your conference M Arnold Mike Mike Tyler Perry Mike who Mike Tyson Mike Tyson Tyler Perry who else do we have pton Manning yeah uh why cleff performed oh [ __ ] me and W cleff pulled him in the pool with me he was [ __ ] fantastic man oh no he I know W cleff I've interviewed him multiple times I never never incredible performer incred one of the best unbeliev if you call him hip-hop cuz he's really
kind of not just hip-hop but in the hip-hop world one of the greatest performers of all time Class Act man and so humble and so he wants to entertain oh yeah he wanted to he's a real Entertainer yeah he's a real Entertainer what you said in terms of Industry for entrepreneurs to get involved in AI Healthcare and crypto mhm so if you an entrepreneur right now for the first time ever I say that um it was an interview on Yahoo okay yeah but I mean I would also look this all the I don't defame you
I actually have real sources yeah I would also look at home services you know all the Home Services stuff the the H fact that I mentioned earlier the Roofing anything medical regenerative right any of that stuff man like you don't have to have a degree to get in that I I don't need a degree to run a uh 10 nurses doing IVs like that's just a brilliant brilliant business that's not anything anti-aging what else did I say AI yeah I'd learn about AI if I was 25 years old I wouldn't [ __ ] go to
college I'd I'd [ __ ] go online Elon Musk even says he wouldn't [ __ ] go to College elon's a unicorn okay whatever bro [ __ ] he Elon he went to college though I know it was stupid I'm telling you I wasted five every bad habit I learned in my [ __ ] life was learned in a college I wouldn't say that for my life but but but we ain't interviewing you that's right well you question how Nancy pelosa could be worth $120 million when her salary is $179,000 yeah yeah because you Can't
do the math on it I mean she'd have to be 33,000 years old or something okay it would take it's a true story dude she would have to she she I think 3,300 years she would have had to be on earth 3,300 years right to ear to turn $179,000 if you take 179,000 that's the most she's ever been paid okay Divi times she lives in California so she's paying what in taxes uh9 and 10 yeah she's probably paying 59 39 and 10 let's say 30 179 so half that goes to taxes times yeah 51 uh
just say 50% to make it easy she's making 89 ,000 a year she worth $120 million minimum yes she could be worth more than that divided by 80,000 bucks a year she would have to be500 [ __ ] years old if she never spent one penny now she looks 1500 years old I give her that okay but that would put us back to what year that would be we're in the year 20 it would be the year 700 bro Right what are we [ __ ] talking Alexander the Great is [ __ ] all of
Persia and his mother okay okay but this is why it's a up until a certain point I remember 60 Minutes did a story on this up until a certain point you could actually if you were congress senate whatever you could invest in a company knowing the way a vote is about to happen yeah so if you know that there is a law that's going to Boost up these five particular companies you could buy stock legally in all these companies happened last right before the vote yeah happened a couple weeks ago with Tik Tok being banned
and somebody loaded up on Facebook on Facebook exactly but I heard they changed some of the laws after the 60-minute special and you now have you could do it but through a family member so it's just a loophole they created where you can still do it yeah whatever all I'm saying all I'm Saying is and I'm just picking on Nancy there's a whole bunch of them Republicans and Democrats look if I was President of the United States if I could pass a law I'd be like if you're in Congress or Senate one you don't get
paid more than me median wage whatever the median wage is is what you [ __ ] get paid you can't get paid more than that number two you cannot Insider trade yes period in fact you cannot [ __ ] trade at all that's how she made her Money essentially insider trading yeah because the 880,000 after taxes means she would have spent 100% of her money on investing which she can't dude she's got a house payment she's got cars no but the government's funding all that taxpayers are funding all this [ __ ] okay you know
so I don't know what the point is but what what you're asking me but you can't do the math the math yeah the math is pretty crazy yeah Now you predicted the stock market will plunge 50% that's right want to make that bet how much you want to bet $1,000 what period of time well I don't know what I mean bro you gotta give me odds on that okay like like like make make it I mean like here's the here's the thing about Grant right no matter how much money he has he will not do
a sucker bet [ __ ] no matter how low the amount is no I ain't a sucker Dude there is no sucker bet coming from gr he will not bet you $100 if he doesn't feel confident there's a lot of things I don't know anything about but but but I know what I don't know and I'm not going to I'm not going to make a practice of losing $100 or a th000 or 10,000 or that's what I love about you yeah I'm like so in one year do you think the stock market will drop 50%
this is May 7 2024 so May 7 2025 50% no no I'm goingon to say I'll Say the stock market will drop man I'm just so worried about them [ __ ] tethering this thing they're just going to if it happens they're going to just keep throwing money at it that that's the concern I bail outs and so forth that's what you mean by throwing money at it uh no no by by funding by just yeah printing money printing money again like like there's nothing that stops IT is Israel gets gets [ __ ] uh
Biden says Stop Iran stop and they hit him with a like their response was like okay [ __ ] 50 Rockets or something okay the stock market went up this doesn't make any sense man so so that's why I'm a little concerned about like they just keep stretching it out but you want a friendly bet yeah let's do it you already owe me 100 the S&P 500 how much more you want to pay me the s&p500 is at 5200 today right okay yeah that sounds about right let me look it up let me let Me
check let me check I predict by the end of the year no you want to go Maya next year 5188 right now 5200 to be safe fair enough yeah just as round I didn't look and and and I was within 12 points of the [ __ ] thing okay 5200 um how much you going to give me for 50% drop no no it won't have a full 50% okay it will have I'm gonna predict um where where where you at okay I'm Going to predict let me just see here I'm looking for I'll predict I
I'll predict that it'll breach 3,000 by may this time next year it'll breach $3,000 it'll go below 3,000 yeah that's not a that's not a full 50% okay the last time is went below 3,000 you better or not first no hold on hold on hold on hold on hold on I I want to get get all the facts first yeah the last time it went below 3,000 was 2020 Exactly four years ago yeah during the pandemic yeah well kind of yeah that would be that would be a 40% reduction from where it is right now
so you think it'll drop 40% I said 30 it'll breach 3,000 even for a second but it'll breach it okay by what 500 will drop you want how long do you want the S&P 500 will drop below 3,000 between between now and uh year 365 days from right now 365 days $100 man $100 okay you want to go up want to do a th sure if you give me Odds give me 10 to one no well that's the same $100 for me exctly you have $1,000 upside I have to save $100 like but but but
but I'm the one I'm the one putting it out there you're not even making a [ __ ] prediction hey I'm going off your prediction you know first it was the Michelle Obama which you know I'm clearly how many Jews are sitting here right now how many what how many Jews are here at the table one okay exactly What does that mean you know well it means if you don't know who the [ __ ] idiot is at the table you're it and I and I know I'm not the idiot so you say I'm the
idiot I don't think you are okay so neither one of us are idiots but I know you're Jewish right so I got to be careful I don't even understand what that means come on man okay but you already owe me $100 for the Michelle Obama thing clearly she's not running we Bet $100 the last show I still have some time with Big Mike you do have some time I will wait until November okay at Point November 4th November 4th November 4th I expect that $100 okay you know I mean I actually want to get it
on you know my comment about the juice D you guys know you guys are [ __ ] bright dude yeah the bright probably one of the brightest [ __ ] like by I'll take that you are you're one of the brightest [ __ ] struggling striving Succeeding and like get by Guy groups of people on the planet thank you I'll take it I mean I'll take the compliment it is what it is bro yeah I'll take the compliment in America okay I know they say the white people are privileged right but think the Jews are
privileged no no I think what happens is I think that there's three groups that are brighter than [ __ ] white people okay and I think it's an embarrassment that white people aren't like it goes like This okay it goes Brown are the wealthiest income earners and asset owners in America Brown meaning what uh Indian Indian okay then it's uh Asian okay I think you guys are right there number three the Jews number three spot cuz y'all get into a whole bunch of other [ __ ] there's not that many of us though there's way
less Jews than no 100% but I mean by GDP and by population you guys are [ __ ] like outstand you Know outliers then it's the white people in the middle okay now the black and Browns are bottom two groups black and brown hisp Black and Hispanic yeah yeah because you already said brown indan but the most embarrassing stat there is you're a [ __ ] privileged white person in America and you're in the the [ __ ] middle it's disgusting you got education Available to You Health Care available to you [ __ ] lawyers
Available to You Banks available to you you can walk in anywhere nobody [ __ ] and you still couldn't [ __ ] make saying all these people are wasting their whiteness that's yeah dude fck yeah like ain't no way another [ __ ] race is going to beat me to the top of the food chain and I'm white and you're white mhm but you made it to the top of food chain so that's what I'm saying that's what I'm saying That's what I'm saying I'm like there's no way I'm being blessed with all this and
mail by the way and male Right male whites yeah you're totally wasting and good-looking right so your prediction 50% drop in the stock market no I didn't say that bro I said it will breach 3,000 which is about a 40% you know what I'm going to go up a little bit it's going to breach 3150 okay fine because you took too long to get to the bed that's fine1 $ 3150 $100 Yeah got it got it okay what about the real estate market can I hold your well you're holding my 100 right now no that's
my 100 but you owe it to me technically oh you're right see what I'm saying we're even we're even okay so the stock market is going to drop 40 something per. what about residential real estate what do you predict single family homes single family homes uh there will be a correction in single family homes when The interest rates breach 4% it's at what now when interest rates come down so we price it interest what 7% now seven and a quarter when interest rates come down that will be the first time housing gets a relief in
pricing I mean that Mak contrary no everybody thinks when interest rates come down prices are going to go up some more they're not okay that's not how interest rates in history have never back to the 70s when interest rates were 80% [ __ ] prices Kept going up interest rates have never controlled interest rates were 80% 18 18 sorry okay yeah that means every five every five years you paid in interest yeah with the cost of the house this what the 80s right yeah 1970s 70s okay so so and and through the 80s through the
quarter years so interest rates when interest rates come down now most people think when interest rates come down the prices are going to go up because people can afford more but that's not true Because about 60% of all the loans in America are either paid forign cash or they have a very very low loan or they have 3% money so a lot of people trapped in a house right now interest rates have to breach four maybe four and a half when they breach then Vlad will be like I'm going to sell my house now cuz
now I can move to the house I want and the housing market is dependent upon not new buyers first-time buyers existing buyers existing buyers that are trading Existing owners who are yeah yeah right because once you sell a house you have to buy another house so AV pay taxes exactly if I was the president of the United States I would put so much pressure on the FED he can't control rates but I would put pressure on the FED to at least get Fanny and Freddy that are subsidized by the government to reduce rates for firsttime
buyers and for for people that want to trade up reduce those interest Rates so they could trade up it'll bring pricing down immediately and give firsttime buyers an affordable way to own a home okay so that's your prediction for residential single family homes what about multif family homes multi family the the the rents the rents for next two years rents will be flat there will be a tremendous amounts of pressure in apartments that's what we're taking advantage of right now we're buying stuff for 40 and 50% below Replacement cost damn yeah so is this the
best time right now to buy multi family right now best the best this is the best biggest most massive opportunity in my 66 years on this point we got to repeat this we got to repeat this so right now in may 2024 this is the best time to buy multi-unit residential property this is the biggest real estate correction in my Lifetime multif Family large properties bought by from Institutions okay not twoes and foures duplexes and four units and six owned by some guy that owned them for [ __ ] 40 years it doesn't matter to
him no you this needs to be bought the perfect purchase is something that was bought 19 uh yeah no 200 1920 it was bought 2020 2021 one they had a three-year loan on it loans due right now that's what you want to go buy or maybe 10 or 12 years old but always From an institution not from a personal buyer no seller institutions big giant massive institutions top 10 primarily they have redemptions due and they can't make make the cash flow and they're cleaning up their books right now there's $2.6 trillion where the debt due
right now and about half that is multif family about 800 billion will happen this year damn yeah it's big 800 billion and you're going to spend what three billion I'll buy I'm G try to buy three I'll do a billion between now and July in what areas hold me to that let's see if I get I'll bet you another hundred I hit I don't know anything about this I'm not going to bet you I don't know I'm going to bet on things that I know well you don't want to bet against me that's for you
no I've been betting against you we have two bets I've won one of them so far so far no you ain't I mean at this point I'm winning Michelle Obama hasn't Anything it's getting close to a it ain't happened yet you're Big Mike's going to run wait Big Mike yeah who's that who who's Big Mike I don't know who is Big Mike you know who it is Michelle Obama you calling Michelle Obama big mike that's not nice man come on come on I love Michelle Obama man okay I like Michelle you met no okay I
met uh I Haven met any president's AC actually yeah I have not Yet well you had Trump talk at your your one of your conferences who else did you beet couple who else can you say no okay fair enough so the prediction so right now is the huge opportunity for big multif family residential big massive dude this is like you we've done five of these yeah what about and and and I've always been bullish on apartments yes because rents are 1,800 bucks in America today average rent um average rent in New York City is $5,500
for two bedroom average rent in Miami by the way the the New York flad two bedrooms probably 900 square F feet you're looking at another brick building in a [ __ ] neighborhood and that's what you get for 5500 it was built in 1970 in Miami 2020 built [ __ ] ocean blue water warm weather no taxes the rent $2,200 so way less like half the price half half it has never been in my entire Lifetime the disparity between ownership and rent has never been the Gap has never been this big so if mortgage rates
don't come down rents got to go up so you're saying it's cheaper to rent than to own right now by a lot 50% 50% cheaper 50% cheaper huh to rent in America as much as people complaining about rents went up dude rents ain't going up nothing compared to what they're going to go do well I mean you would know because you have how many Units 15,000 and they're going to go the rents 10 years from now when you're 63 years old MH okay the rents are going to be 60 years old 60 years old and
look 70 okay the rents are going to go from average 1,800 to almost $3,000 Across America so it's going to almost double yeah okay and and it'll be you're talking about like a or 5x return on those Investments now what about commercial we're paying all cash for everything we got $500 million under Contract right now all cash no debt no banks no institutions you're sitting on 500 million in cash right now yeah okay where do you keep your cash I keep it you know hopefully in a safe place no no no but I'm saying until
until I can drop it no but I'm saying what type of fin I'm not saying exactly the address I'm saying like like what do you put it safy deposit box you do not have half no of course not no no I got it in a bank Dude so I have a on a sweep account that's protected so you're earning what like 5% on that uh four and a half% 5% yeah yeah probably average of somewhere between three and a half and five and a half depending on where that money is sitting in the given day
yeah but but dude I don't want 5 and a half% of my money that's all taxed at my rate is taxed half so I earned 2.7% and I didn't keep up with with inflation I didn't keep up with the the The hammering you're actually losing money by keeping it there I'm losing I'm losing let's say I had let's say I had $500 million sitting in an account since 2020 MH and now it's 20202 that 500 million is only worth 375 today I would have lost $125 million because of inflation because yeah exactly yeah you call
it inflation what about commercial real estate cuz right now like it's in the toilet look look look offices are going to be [ __ ] Torn To The Ground Dude the only value in an office building if it's 30 years old is to do one thing to it turn it's a res residential just scrape the [ __ ] just tear it down tear it down to the ground but the problem is most of these cities the one you live in they're not going to let you do it because they're going to over regulate like like
there's a guy that wants to do a mall right now okay in a blue City the mall is like a million square feet it should be [ __ ] A 100,000 900,000 square fet of [ __ ] mall the the whole thing could be converted to residential but they won't let it five years they've been working on it need the affordable housing it's in the right location [ __ ] the movie theater doesn't work anymore there's an old JC Pennies there you know they all look the same [ __ ] parking lot's empty piece of
[ __ ] great location and the [ __ ] City won't Approve it to say hey turn it into residential convert it to what it needs to be so those malls all need to be converted Office Buildings need to be scraped okay Class A office in America if you build Class A office in a great City particularly these blue cities they're going to scream yeah I mean we're going to get an office uh for our studio out here and we were just like forget it you know it's better just to do what We've been doing
just rent the space when we needed to yeah you know as opposed to actually having our own commercial space you're renting for cheaper than exactly way way cheaper yeah way cheaper anybody that's that's starting a new business you shouldn't own your office should use your office yes have them spend all the money on it uh go in and tell them you're going to live there for 10 years make them spend a million or2 million dollars Getting it perfect for you and pay them by the month even stall the first 18 months out don't even pay
rent for the first 18 months they'll do that last question before I let you go and do the house tour and this was an interesting sort of debate point you know especially in the black community so when I interviewed Michael Vic we talked about how he talked about how his friends got Into a lot of trouble he had a big entourage of guys yeah that he would pay for you know they came up together they all love each other whatever else he would pay for everything when they would fly he'd buy all the tickets buy
all the hotel rooms take him shopping whatever else ultimately these guys started dog dog fighting operation one of his houses he ended up oh I didn't going to prison uhhuh because of their [ __ ] because of their [ __ ] losing all his money Filing he had a bunch of really bad Investments W he filed for bankruptcy after making hundreds of millions of dollars wow now luckily he came out of prison you know a team you know took a chance on him and he made eventually he made $100 million again uhhuh but we had
this conversation I'm like look did you enjoy interviewing what yeah yeah yeah no very cool guy plus plus he's he's a legend in what he does he changed the quarterback game yeah you Know you look at Mahomes he's kind of a Michael Vic yeah yeah you know blueprint guy yeah but when I talked to him I said do you regret having these friends around and supporting your friends and he was like no he's like if you found 10 million dollars in the back room you want to split it with your friends like no like and
then there was this big debate like no well from our community you take care of people you know Sebastian Telfair interviewed him you Know he talked about how it's just like ingrained in the culture of taking care of your friends you yourself have you ever had experiences of you know having a bunch of friends that you help pay for and everything else like that and what advice would you give to people who are kind of in this position number one I don't have a bunch of friends uh number two I I never take care of
people's finances ever ever so either they pay for everything Themselves or they can't go because because what's going to happen is if I take care of them over and over again they're going to resent me anyway if I pay the [ __ ] meal every time sooner or later they're goingon to have to carry my bag they're going to feel obligated pick up the bag if I'm paying the bill all the time so I never let anybody pay for my [ __ ] ever I I hung out with a guy was worth four and a
half billion Dollars for 90 days every time we went to dinner I'm like I was the first one saying [ __ ] it I'm buying you ain't owning me so that's the problem with it dude you know like it's got to be a fair exchange back and forth okay and I'm not carrying dead dead weight I'm not carrying dead weight it's not my obligation take care of the community my obligation is take care of me and your family take care of me then first made then take care of my family mhm you know Like Bas
based on what Michael Vick is saying if the plane's going down he he's going to worry about everybody else's [ __ ] mask before he puts his own on he's gonna die and and so had had he done it the other way he wouldn't have had to start over had he made some of those difficult calls along the way he wouldn't have had to start over and he could be a billion- dollar player right now like LeBron's going to be or Michael Jordan is easy yeah easily yeah instead Said he went to prison he had
to go backwards now he's got to restart is that an inspiration uh maybe but I kind of like the LeBron story and the the Jordan story better yeah I was with a family member that other day and they said boy You' really changed I said [ __ ] hope so it's a good thing [ __ ] I hope so no look and then she's like you know what you've changed more than I have exactly but it first came off like oh you've changed you're so you Know you're different I hope so no look I I
had uh you know groups of friends that didn't really have a lot of money I had like my little homie you know that I kept around I would take him on trips with me pay for all his meals everything else like that one day he called me and said uh hey um I want to see my girl can you get me the plane ticket and I'm like nah I can't no and then it was like oh I seen you waste money on this this and this and and you're not going to help me Pay you
know to go see my girl and I'm like [ __ ] you and her yeah and then we stopped talking for years yeah cuz I was like as much as I paid for you you're going to criticize you're going to tell me about how much I'm paying for myself over money that I earned myself cuz I'm not giv cuz I'm telling you no one time after I've said yes yeah a 100 times in this story it it lowers the individual that's receiving in my mind like it it pushes that guy down if every time I
pay The bill yeah you know it doesn't matter how much money they have man like like you know if you're going to go to dinner to me like if a guy's going to come to dinner with me sooner or later you got to pay too yeah makes you feel good to pay if having if I'm having if I'm in a restaurant with a group of people when the bill comes I'll pull out my credit card now often times they're like no we got it it's like okay if you got it that's fine but I'm I'm
offering to pay Yeah every single time makes you feel good I never assume someone's going to pay for my meal on any situation yeah yeah every time and so that's all I would say and just like I've had to cut people out along the way that I outgrew and I'm like okay bro I like you're not the same guy that you were I'm not the same guy that I was now one of it maybe you are the same guy and I'm not the same guy but we're different I got different Goals different Ambitions I got
a family now I'm not going to do the [ __ ] that I used to do yep I feel you gr cardo man always a pleasure Let's uh take a look at your house thank you BL
