Space Summary
The Twitter Space ECONOMY FINANCE MONEY RATES MARKETS REAL ESTATE #10XWealthCon hosted by GrantCardone. The 10X Wealth Conference delved into crucial aspects of finance, real estate, and wealth creation, featuring discussions on private equity's influence, investment in ventures like 10X Health System and Cardone Ventures, and effective strategies for maximizing returns. The event emphasized the significance of networking, staying informed on market trends, and the role of conferences in sharing industry expertise. Overall, the conference provided valuable insights for individuals aiming to navigate and succeed in the dynamic landscape of financial services.
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Questions
Q: What is the AUM of Cardone Capital?
A: Cardone Capital manages a substantial $4.5 billion in assets under management.
Q: Why are conferences like 10X Wealth important?
A: These conferences provide a platform for industry leaders to share insights and strategies for wealth creation and investment.
Q: How does private equity impact financial markets?
A: Private equity fund managers wield significant influence through managing substantial assets that can shape market trends.
Q: What role do ventures like 10X Studios play in the economy?
A: Ventures like 10X Studios diversify investment portfolios and contribute to economic growth.
Q: Why is it essential to diversify investments?
A: Diversification mitigates risks and maximizes returns by spreading investments across different vehicles and sectors.
Q: How can individuals leverage real estate for wealth creation?
A: Real estate presents opportunities for wealth accumulation through property investments and strategic market maneuvers.
Q: What benefits does networking offer in the finance sector?
A: Networking opens doors to new opportunities, collaborations, and insights essential for expanding investment horizons.
Q: How can staying informed about market trends be advantageous?
A: Being informed about market dynamics allows investors to make informed decisions, capitalize on trends, and mitigate risks.
Q: What are some key strategies for maximizing returns in finance?
A: Leveraging opportunities, diversifying investments, and strategic decision-making are vital for maximizing returns in the finance sector.
Q: Why is investment diversification important?
A: Diversification spreads risks and helps optimize returns by investing across different asset classes.
Q: In what ways can conferences contribute to industry expertise?
A: Conferences gather industry leaders to share insights, strategies, and best practices, enriching the knowledge base and fostering growth in the finance sector.
Highlights
Time: 00:15:40
Cardone Capital's $4.5 Billion AUM Exploring the influence of Cardone Capital's substantial assets on the financial sector.
Time: 00:25:12
Wealth Strategies in Real Estate Markets Discussing effective wealth creation approaches through real estate investments.
Time: 00:35:48
10X Ventures Diversification Impact Understanding how ventures like 10X Health System and Cardone Ventures contribute to investment diversification.
Time: 00:45:21
Network Building for Financial Success Insights on the importance of networking for expanding investment opportunities and collaborations.
Time: 00:55:07
Market Trends and Investment Opportunities Analyzing the benefits of staying updated on market trends for maximizing investment returns.
Time: 01:05:30
Strategic Decision-Making in Finance Strategies for making informed decisions and leveraging opportunities in the finance sector.
Time: 01:15:16
Role of Conferences in Industry Knowledge Highlighting how conferences like 10X Wealth contribute to industry expertise and growth in finance.
Time: 01:25:42
Economic Impact of Private Equity Examining the influence of private equity on economic growth and stability.
Time: 01:35:58
Effective Investment Diversification Importance of diversifying investments for risk management and maximizing returns in finance.
Time: 01:45:10
Real Estate Wealth Strategies Strategies for leveraging real estate markets for wealth creation and financial growth.
Key Takeaways
- Private Equity Fund Managers manage substantial assets impacting financial markets.
- Cardone Capital's $4.5 billion AUM signifies significant influence in the finance sector.
- Investment diversification across ventures like 10X Health System and Cardone Ventures.
- Exploration of real estate markets and strategies for wealth creation.
- Role of conferences like 10X Wealth in disseminating industry expertise.
- Implications of large-scale asset management on economic growth and stability.
- Integration of various financial instruments and systems for wealth accumulation.
- The significance of networking and collaboration in expanding investment horizons.
- Strategies for leveraging opportunities and maximizing returns in the finance sector.
- Importance of staying informed about current economic trends and market dynamics.
Behind the Mic
Introduction to the Discussion
Welcome, everybody. We're just getting started. I see Jose, Justin, Ryan. Good to see you guys back for round two. Today we're going to be retweeting the space. We're going to have a little fun today. So economy, finance, money, rates, markets, real estate. Grant, welcome back, my man.
Engagement with the Audience
Hey, great to be here and great to see so many people coming to the room. Let's just give everybody a little while to join up, maybe post in the comments where you're from. And I'd love to know what's the average price of a home where you live, where are you, what city and what's the average price of home? I'm in LA right now. Average price of a home here is $860,000. That's the average. That is insane, dude. Malibu, the little strip that I'm on.
Discussion on Housing Prices
Storm, I'll bet you the average price of a home there's what, low end 5 million on carbon beach? And how many square feet do you get for that? Is it like 2000 now? How much? Yeah. Yeah. Guys sitting here listening to me, like, not even close, man. It's 15 to 20 million, so. Oh, my God. Yeah, you know, maybe 2500, 3000 sqft.
Personal Anecdote on Selling Property
I'm thinking about selling my house. I'm thinking about selling my house in Malibu, but I'm only gonna sell it to. You have to be venezuelan, you must be illegal and you must have 31 other friends. And. And storm, you have to get money from Kamala and then I'll consider selling the house. Otherwise it's a no go.
Fun Interaction Among Participants
Best photo, by the way, in the room. I'm going to give number one place best. What is it called? What's the profile picture called? Your profile picture? Is that what it's called? I'm going to give number one to n. S I k a n. Looks like Nisikon. I'm gonna follow you back, mister Dixon.
Final Thoughts and Awards
And second best photo goes to. We should still give it money away every day. Star. Second best photo goes to Courtney for most handsome in the room. And then I'm gonna have to give Jane overall most elegant. Love it.
Discussion on Alternative Promotions
Instead of money, we could be giving away like ten x hats, a little book here and there, maybe a ticket somewhere, I don't know. Yeah. What do you think? Yeah, sure. We can do all that. You know, we should give ten x hats out to every. Every time somebody comes here. Okay. Love it. Jose is sporting his. He's number one in our book, by the way. Good job. Jose, on your. It's PTR. PTR, PTR. Yeah, yeah. Okay.
Home Prices and Locations
We have Scottsdale, Arizona in the house. We have Ireland says the average living in mass. Average $700,000 for a three bedroom. Mister Dixon's from Nigeria and Allentown, Pennsylvania. Average price of a home in Allentown is $540,000. That is crazy. Goes to show your money goes farther in different places. Yeah.
Financial Discussions and Insights
So we're going to be welcomed by the way, too. Go ahead. Yeah, we're going to be talking about money finance. We're going to try to do this two or three times a week. So if you guys could follow me, and then you'll get in a notice, an alert that I'm doing a room. This room's gonna always be about one topic. Money finance. Could be about the stock market, it could be about real estate, it could be about bitcoin or crypto, whatever you guys want to talk about.
Concerns Over Financial Literacy
But it's got to be about the money and about your money. Because I'm very concerned about Americans getting behind right now. And I don't think our government is doing enough to talk about real solutions to provide people with real incomes, mostly financial literacy. I know Kamala came out today and said she is proposing in her first year, she wants 25 million new businesses.
Challenges in Business Creation
I don't know what she thinks that's going to do for people. Because just because you start a business doesn't mean you make any money. In fact, this is a statistic. You guys could search it out. The self employed make less money, almost $30,000 a year less than those employed by others. 91% of all businesses in America never make $1 million a year.
Statistics on Business Revenue
Less than 9% ever make a million dollar of gross revenue. That's not profit, by the way. That's gross total revenue. Huh. I would, though.
Business and Financial Literacy
And, so given 25 million, given encouraging people to go start their company, 25 million people to start their company, all you're going to do is have like 22 million failures, bankruptcies, bad credit. People are just going to get slaughtered, man. It'd be like me giving my kid an AR 15, putting it on fully automatic, and saying, hey, go have fun. You don't do that, right? You can't give people a business and a business license without giving them financial literacy. That's what's missing in this country, by the way, people need financial literacy education. How do you create wealth? What do you do with money? How do you get it? Where does it come from? How do you keep it? And most importantly, the real wealth hack is how do you get money to multiply?
Engagement Invitation
So if you want to speak, folks, when you come to this room, all you got to do is hit that request button. As soon as you hit it, we will invite you up immediately. Everyone is welcome, Republicans, Democrats, independents. We lost you, Ghdev. So we might have a couple of issues because I know he's driving right now. And so, Grant, when you come back, if the connection goes unstable, we'll just restart the room. Ryan, I see you coming up as well, and you know we are. I do want touch on debt a little bit. And first of all, before we do that, Rhett Holloway. Yo, if you're there, welcome to the room, my man.
Discussion Continuation
What's up, man? What are we talking about tonight? And I can't hear you, but that's okay because I saw you go off mic. I'll have to drop myself and actually come back up when Grant comes back. Grant, are you back yet? And if not, no big deal. So I got a couple requests coming. Can you not hear me? Yeah, go ahead, Jose. Yeah. Grant Cardone. Say, what are the prices around my corner around in Puerto Rico, I live in the area of Uravo specifically right now. I find that $200 for rent where I live and sell 5000 thousand dollars, $690,000, $649,000. That will be the prices in, you know, in around the area or.
Prices Discussion
Yeah. Got it. Got it. And I'm going to come to you here in just a second. Ryan, I'd actually like for you to talk. Grant can't hear and actually I'm having trouble with Rhett as well. So we love x because it loves to glitch sometimes, and we're going to get it right so we can really have a good, involved, engaging conversation. So, Logan, I see your hand up, too. Ryan, you were here yesterday. I'm curious, what did you get out of yesterday that was like a big takeaway in a ha. We can hear you. Can you hear Grant?
Initial Communication
Hello? Storm? Yeah, I can hear you. Can anybody hear me? I can hear you perfectly. Perfectly. Okay. This is going to be fun today. We're probably going to end up restarting the room just in case we might be dropping and bringing people back up and we'll get a chance to. Logan, I know you had your hand up, my man. Welcome to the room. We'd love to hear what you have to say until we get this fixed. Go ahead.
Discussion on Real Estate
Thanks, man. I appreciate the welcome. I've been following grant for years, so I was going to ask a real estate related question. I've been doing acquisitions trying to find low equity multifamily, usually, like two to four units. This is what I've learned from the guy who's been doing it for a few years. But I really got interested with real estate after reading your book, and I want to expand more, so towards larger commercial deals. I still haven't gotten my first deal yet. I've only about a couple months. But should I focus, just go straight into trying to lock up some of these larger deals or with someone like the. Or, you know, three, four unit deals, and then work my way up once I get more affluent on the phone?
Technical Issues and Restarting
Yeah, that'll be a good question. And what we're going to do, we're going to restart the room. I know, Rhett, you can hear me. I can't hear you. Grant can't hear Jose. And then all of a sudden, we have a. I can't hear, but no, I mean, I see you in spirit. So what we're going to do is we are going to restart the room here in just a second. And then what? Literally, it'll be the same title and everything. I see you coming off mic red. I'm sorry. And, Grant, actually, you know what? Here's what we're going to do. Before we restart. I'm going to drop myself, bring me right back up.
Further Technical Challenges
Okay, perfect. You. I'm next to Grant Cardone. Look. Yeah, I'm still not hearing, I'm not hearing you now. Storm. Grant Cardone, where are you doing? I think we need to reset.
