Love Bitcoin more! American real estate tycoon Grant Cardone sells beach house for 646 BTC

Grant Cardone, CEO of real estate investment company Cardone Capital and best-selling financial management author in the United States, is a self-made billionaire who founded 18 companies and has continued to It has 12,000 apartments, generates significant revenue from them, and manages over $4 billion in assets.

According to Benzinga, Grant Cardone has recently caused a stir in the real estate world because he announced that he will sell the Florida beachfront mansion he bought from American fashion design master Tommy Hilfiger for $28 million in 2021. The mansion will be sold for 646 Bitcoins, equivalent to approximately $42.03 million.

According to Grant Cardone’s IG post, the mansion is located at 605 Ocean Avenue, Gold Coast, Florida. It covers an area of ​​0.06 acres, has an area of ​​10,275 square feet, has six bedrooms, a swimming pool, and overlooks 100 meters of the Atlantic Ocean. ft. of private beach.

Grant Cardone and his wife renovated the exterior of the mansion, including the cottage, beach house, terrace and swimming pool. They also installed new ocean-view windows and doors and upgraded the landscaping of the mansion.

Look forward to selling your mansion and holding more Bitcoin

Grant Cardone believes that owning a house is a trap because people will live in the same place for 30 years and pay the price. Renting is a better option because of the flexibility. It's smarter to pay $2,000 a month for the next 30 years than to have 27 years of mortgage payments.

In Grant Cardone's view, buying a house as an investment is not necessarily better, because the real estate return rate is lower than the S&P 500 index or other assets such as bonds. After paying the down payment, not only will the down payment be lost, but also every You have to repay your debt every month, and if you want to sell the house for a profit, you will be forced to use 70% of the profit from the sale to pay interest, 6% real estate transaction commission, and Florida's usual 2% property insurance: Therefore, You'd have to earn nearly 100% in 10 years to break even and lose liquidity.

Regarding why he wanted to sell his mansion, Grant Cardone also tweeted to explain that he would rather own more Bitcoins or multi-family homes than invest in a single mansion. He thinks selling now is the perfect time. He would invest the proceeds in Bitcoin or buy more multifamily properties.

The above is the detailed content of Love Bitcoin more! American real estate tycoon Grant Cardone sells beach house for 646 BTC. For more information, please follow other related articles on the PHP Chinese website!