Grant Cardone is selling his $42M Florida beachfront mansion — here’s where he says he’ll invest that money for ‘stability and cash flow’

Moneywise
Grant Cardone is selling his $42M Florida beachfront mansion — here’s where he says he’ll invest that money for ‘stability and cash flow’
Grant Cardone is selling his $42M Florida beachfront mansion — here’s where he says he’ll invest that money for ‘stability and cash flow’

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Real estate mogul Grant Cardone is known for his skepticism of the value of homeownership. He once famously advised, “Don’t buy a home — unless you can afford to waste money.”

But perhaps Cardone meant it as advice for everyone else, considering he went on to purchase a significant waterfront property in South Florida from fashion icon Tommy Hilfiger in 2021 for a whopping $28 million.

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And now, he’s putting it on the market. According to Realtor.com, the mansion at 605 Ocean Boulevard is listed for sale — at a cool price of $42 million.

In a post on X, Cardone shared his reasons for selling the property.

“Why am I selling 605 Ocean Blvd? I would rather own BTC or more multi-family than be invested in one single location. And we bought the house believing we had a vision for it that would improve the value for the next owner,” he wrote.

Here are a few ways you can diversify your own portfolio with assets Cardone favors right now.

Multifamily real estate

Cardone has consistently advocated for multifamily real estate, previously stating that it’s “the most stable and cash-flow.”

Since people always need a place to live regardless of economic conditions, multifamily properties tend to be resilient.

“Multifamily real estate will always win during a recession as the best investment because of these properties’ cash flow, great locations, and high demand,” Cardone explained.

If you are an accredited investor looking to follow Cardone’s strategy of investing in multifamily real estate, you can do so through DLP Capital.

This high-growth IMPACT investor holds over $5 billion in assets under management through a variety of funds in residential and multifamily real estate with targeted annual returns of up to 13%.

‘Like a Four Seasons’

According to the listing, Cardone's 13,000-square-foot estate features seven bedrooms, eight bathrooms, an infinity pool, and 100 feet of private beachfront access. The gourmet kitchen comes equipped with Subzero and Gaggenau appliances.

Cardone mentioned that he and his wife, Elena, have undertaken significant renovations on the exterior of the property, including new doors and windows on the main level to maximize ocean views, an art gallery at the entrance, garage space for six vehicles, and parking for 12.

You still have options if you'd like to invest in vacation properties but can't afford places quite as luxurious as Cardone's mansion.

Arrived is an online platform that allows you to invest in shares of residential and vacation properties without the responsibilities of property management.

To get started, browse through Arrived’s curated selection of homes vetted for their appreciation and income-earning potential. Once you find a property you like, you can choose the number of shares you want to buy and start investing in real estate with just $100.

Read more: Jeff Bezos and Oprah Winfrey invest in this asset to keep their wealth safe — you may want to do the same in 2024

Other ways to invest in real estate

Multifamily properties aren’t the only option for investing in real estate. You can also take advantage of this asset class with commercial real estate and real estate bonds.

Investing in commercial real estate allows you to invest where communities live, shop, and work. If you’re an accredited investor looking to expand your real estate investment portfolio, consider First National Realty Partners (FNRP) for commercial real estate investments.

First National Realty Partners (FNRP) is one of the fastest-growing, vertically integrated private equity firms. Their platform is designed to offer everyday accredited investors access to institutional-quality grocery-anchored commercial real estate.

The firm handles all of the legwork for you. FNRP’s team of experts manages every component of the investment life cycle, from due diligence and leasing to property management and upside.

Another real estate investing option is Compound Real Estate Bonds, a company that offers an opportunity to earn 8.5% APY through its SEC-qualified Real Estate Savings Bonds.

Compound has a strong focus on income-producing real estate and real estate private credit, which can help you diversify your portfolio while helping to hedge it against inflation.

By choosing to invest with Compound, you can boost your retirement savings over time and also enjoy the freedom of no fees or lock-in periods, with the flexibility to withdraw your funds whenever you need to.

'Perfect time'

Cardone has made it clear what he intends to do with the proceeds from the house sale.

"I thought this would be the perfect time to take the proceeds to invest in BTC or buy some more multi-family," he wrote.

If you want to invest in crypto, be aware that online exchanges, brokers, and ATMs can charge hefty commission fees.

That’s why we recommend trading crypto through Robinhood, which charges $0 in commissions.

Robinhood’s online investing platform simplifies investing in crypto. For as little as $1, you can set up recurring buys without thinking twice. Plus, their suite of trading tools is equipped with price alerts, market trend tracking, advanced trades and more, making it easy to stay on track and make the most of your investments.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

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