At 25, Grant Cardone was in rehab for drug addiction and completely broke. Five years later, he was a millionaire. He has reportedly earned tens of millions annually and manages a real estate empire worth around $4 billion.
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So, how did the popular financial influencer do it? Primarily through a series of three big-money wins. Here’s a closer look at those wins, how Cardone made them happen and what the average person can learn from his journey.
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Car Sales and Consulting
Cardone’s journey to wealth began on a simple car lot in Sulphur, Louisiana. Fresh out of rehab, he began to make waves by selling an average of 30 vehicles every two weeks — far more than his peers.
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Cardone hated sales, but he hated being broke more. He dedicated himself to learning the art of sales and developed his own innovative approach. By 29, he used the $50,000 he made from his sales job to start an automobile sales consulting business.
Cardone began contacting manufacturers and dealers throughout North America. He taught them how to change their sales tactics to be faster, more profitable and more consumer-friendly. The business boomed and 30 years later, it still earns him around $10 million annually .
The lesson for the average person is the value of becoming an expert in a skill others find valuable. Cardone’s dedication helped him redefine car sales and build the wealth he needed to take his next step.
The Business of Grant Cardone
Cardone’s experience as a salesperson and consultant laid the foundation for his successive big-money win — building his brand. He began by teaching others his developed wealth-building tactics. This started with in-person workshops but eventually led to several bestselling books and online business programs.
As Cardone’s reputation has grown, he’s earned millions from speeches, books and social media. Today he earns between $125,000 and $325,000 for a single speech. Some experts also estimate that he earns between $40 million and $50 million annually through social media.
The lesson for the average person is the value of investing in yourself. Building your personal brand can generate income in many ways — from books and online guides to social media ads and beyond. Building the business of Grant Cardone was also a critical step toward the ultimate big-money win for this popular financial influencer.
Real Estate Empire
Estimates vary, but Cardone manages a vast real estate empire valued at $4 billion. This is how he’s invested much of the money he’s earned from sales and personal branding.
Cardone says he prioritizes real estate investments because of the reliable cash flow they generate. His goal hasn’t been pursuing the best return for his wealth. It’s been to buy properties that will continue bringing in cash for as long as he lives. Staying true to this philosophy has helped Cardone build his massive $1.6 billion net worth today.
Cardone has also leveraged his brand to build his real estate empire. Instead of just promoting sales courses, he now speaks to attract new real estate investors. These investors help Cardone buy new properties so he doesn’t have to pay for them alone.
There are a few takeaways to consider here. First, Cardone’s emphasis on real estate reminds us of the value of focusing on cash flow and reliable returns over massive gains.
Second, Cardone’s story is an excellent example of how you can transition one money win into another. His sales experience helped him build a business, which helped him build a personal brand, which then helped him build his real estate empire.
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This article originally appeared on GOBankingRates.com: Grant Cardone’s Biggest Money Wins and What We Can Learn From Them
