Well it went like this, I messaged him on LinkedIn and his assistant messaged me back asking if I wanted to be apart of his mentoring program I was like sure why not. I called his office and told them who I am and also mentioned an off market deal I have and they called me back. Apparently they had 97 percent rent collections in April???? No way right. Anyways they wanted me to pay for the training program.
Guess the 10x scheme ain’t working out for your boy cardone
Rent collections have been surprisingly high in the multi family space. The real story is if they will remain high once the extra $600 in unemployment runs out
The stimulus and extra unemployment has allowed collections to be high. Stimulus benefits will wear out soon and so will unemployment, this will be what matters.
Curious of if he means 'full' or 'partial' rent collections at 97%, I've seen those items combined. Partial is quite different than full......
I would be curious about the partial vs full payment as well but doubt someone like Cardone would care enough to break it down in that manner.. Without the ability to do his 10x seminars, he's probably looking for any fee he can get.
Don't they always charge for his training program? I guess I just assumed everything that guy pushes has an exorbitant price tag on it
Everyone's multi collections have been strong, particularly in the B/C space (which was a bit of a surprise to me that it was closer to historical than the A space).
Let's see what happens when the federal $600/week goes away. For a lot of places, the combined state and federal unemployment is higher than the median income.
This. Stimulus and high unemployment benefits helped everyone pay their rent. Lets see what happens this July.
I also think people may feel guilty if they have the money and don't pay rent, since they've never spent more time at home than now.
Got a call today from a woman speaking in an asian language (I think?) and asking for bank information! Same thing basically. j/k!!!! I did get my trump check thank you very much :)
Doesn't surprise me, our collections this April and May were higher than April and May in 2019.
As someone else had mentioned - much of this is likely buoyed by the federal stimulus, which will burn off sometime in July. Depending on what markets you are in, I'd expect a dip in August/September but nothing that will trip your debt service coverage.
how much did he charge for a call?
pretty sure his new business model is charging ass ton of money for a call, recording it and then uploading to YouTube so he can collect some ad dollars.
kind of feel sorry for the bastard but that’s what happens when you overextend and your “wealth/net worth” is completely built on leverage.
I just really wanna know which lenders actually gave this Jackass money.
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