Grant Cardone Says Don't Invest Until You have $100k

[Tom Pignatello]

I have been listening to Grant Cardone's podcasts and watching his youtube videos after hearing him on show 108 of the BP Podcast. He says that you should not invest in real estate and do your first deal until you $100k to invest. 

Before I started listening to Grant I was looking at a few multi family deals for around $200k but he now has me second guessing if this is the right choice. As I'm sure all of you know, he is an extremely successful real estate investor so it is hard to totally ignore his investing concepts and suggestions. I know a lot of you here on BP started with significantly less than $100k so I would like to hear what some of your thoughts are. Would you invest in your first deal if you only had $20k or would you wait until you $100k?

[Daren H.]

Some people will tell you to save $100K before you start, some will tell you that you don't need any money to start, some people will tell you give them your money and they will help you start, some people will tell you to pay off all debt first and so on and so on. I try to stay away from broad generalizations. I say you invest when your preparation and the right opportunity meet. That might be at $10K savings, $20K savings, $50K savings, or $75k savings.