SalesPharaoh

Senior Account Executive

How do people like Cardone make money? Are they legit or what?

Hey all I just came across Cardone's content and I feel it's like those scams but I don't know I'm not from around the USA but since I came across him the instagram algorithms just kept pushing those "be rich quickly" type of ads schemes which made me suspicious of Cardone.

Who are people I should avoid looking at?

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sahil

Notable Contributor

Deepak Chopra of Sales

He made his money in real estate decades ago, now pretends like he understands sales / tech too.

He doesn't. And he's a misogynist pig

Hoopnip

Politicker

Commercial AE

And a Scientologist….

SalesPharaoh

Big Shot

Senior Account Executive

Oh yea he is misogynist/narcissistic i saw a kid who wanted advice and he was like oh yea oh yea take 100$ go lcean my car im like what dah? Hahah

LordBusiness

Politicker

Chief Revenue Officer

Not that it matters all that much, but the dude is also like 5'2" tall. He rolled up to a booth at a conference I was at years ago in his usual asshat way, and all I could think about was how tiny he was. (#napoleancomplex)

SalesPharaoh

Big Shot

Senior Account Executive

Hahahah

JuicyKlay

Celebrated Contributor

Hahaha no way. I thought he would have been like 6’4”. What a scrub!

CuriousFox

WR Officer

🦊

Corp has a 10x video that's hilarious. "I have a hot wife." 😂

Go with your gut is all I can tell you when it comes to these things. I personally didn't like the guy. Not sincere or something off. Can't pinpoint it.

antiASKHOLE

Tycoon

Bravado's Resident Asshole

That video was the FIRST Corp Bro video I ever saw. Legit hooked me and have been following him ever since.

SalesPharaoh

Big Shot

Senior Account Executive

Grant or Corp? Im lost haha

SalesPharaoh

Big Shot

Senior Account Executive

Can you share the link??

CuriousFox

WR Officer

🦊

https://youtu.be/h-g6y2NTBT8

If the link doesn't work just type corporate bro 10x in your browser.

SalesPharaoh

Big Shot

Senior Account Executive

Amazing @CuriousFox

CuriousFox

WR Officer

🦊

I do what I can Pharaoh 🦊

NorthernSalesGuru

Politicker

Manager, Outbound Sales

Unreal.

LordBusiness

Politicker

Chief Revenue Officer

Can we turn this into a Cardone hater thread? Maybe we start a new post in an effort to convince the entire sales world to cancel this guy. Last straw for me was a when he talked about the “mile high club” with his wife on his jet at a keynote sesh at a conference. Cardone is a joke

Kanyebut4sales

WR Lieutenant

Account Executive

He’s a real estate aggregator which is why he tells everybody to get into real estate. He utilizes other peoples money within his fund to purchase property takes 10% upfront 1% annually and 30% of whatever the property value gain is once they sell the property. That’s only one aspect of his business he also sells out-of-the-box sales training which is garbage but tons of organizations and people buy it.

ChunkyButters

Tycoon

Not defending Cardone....I'm not a fan.

But, this is essentially how all real estate funds, private equity, and venture capital groups work. They take investor money, carry a fee for maintaining the fund and overhead, and then split the profits based on a pre-agreed margins.

countingmyinterest

Politicker

Account Executive

Yup, just a classic syndication structure.

He takes 3% acquisition fee, 1% disposition fee, 1% asset management fee and a % of cash flow, and 30% of carry.

I do something similar on the side but 20% carry and 2% asset management fee.

ChunkyButters

Tycoon

Damn, he takes a heavy fee.

From what I know 20/2 is standard asset management.

countingmyinterest

Politicker

Account Executive

It's just real estate structure. If I take money from family and friends rn, I take 1% acquisition fee to comp myself for finding the deal and signing on the loan to offset some risk and classic 2/20 for asset management.

Real estate is all negotiable.

SalesPharaoh

Big Shot

Senior Account Executive

Ok very interesting

JuicyKlay

Celebrated Contributor

I bet his sales training is expensive af

YoureMuted

Executive

Regional Sales Director

Dude legit makes bank, mostly from OPM (other people’s money) in real estate. Real Estate Syndication is what the boys at or near the top of the Real Estate game do, and that’s where he is.
He also makes a ton of money in “courses” and “systems.” He’s all about leveraging debt to gain wealth, which I totally understand (Rich Dad Poor Dad) but don’t exactly agree with. I’m more of a Dave Ramsey type myself (debt is dumb). The only debt I currently have is my mortgage, and that will be paid off in 3 years. If we want something, we don’t buy it unless we can afford to pay cash for it. My credit score is indeterminable because I haven’t carried consumer debt for years. We own a rental property that is free and clear, paid for with cash.
Anyways... all that to say, yeah, he’s legit, but he’s probably way over leveraged with debt and that’s not the way I choose to live my life.

SalesPharaoh

Big Shot

Senior Account Executive

Amazing take thank you!

Savagedoge

Tycoon

Account Executive

I came across his profile on LI a few years ago when I was new in sales and that happened to be my introduction to sales gurus. I legit believed this is what sales had turned out to be. And then realization dawned.

I made sure to avoid him or his stupid videos where he's burning cash and shit. That ain't for me!

wahmsales

WR Officer

SDR

Have any of you seen him on Undercover Billionaire?

SalesPharaoh

Big Shot

Senior Account Executive

Nope...can he be undercover? Is he capable of not being out there?

wahmsales

WR Officer

SDR

Lol they dropped him in the middle of nowhere in Colorado.

JuicyKlay

Celebrated Contributor

He did not do well!! I saw all of the recaps

PeterSwan

Opinionated

Sales Specialist

Has some cool tips but other than that - nothing. He oversells his services

SalesPharaoh

Big Shot

Senior Account Executive

Like what cool tips?

goose

Politicker

Sales Executive

I read the comment about tips and immediately thought the same thing.

AnchorPoint

Politicker

Business Coach

He is definitely a hustler. Not all bad, not all good. From car sales to real estate on a lot of enthusiasm. If nothing else, he is proof that enthusiasm sells... even is it is just a lot of hot air...

SalesPharaoh

Big Shot

Senior Account Executive

I agree with that

Hoopnip

Politicker

Commercial AE

No debt is great but when all your liquidity is stuck in home equity you can’t access that cash to buy more properties without going into debt. Some debt is great as long as you don’t over leverage yourself.

countingmyinterest

Politicker

Account Executive

His biz model is genius - not that I think his content is good, but he polarizes his audience so well.

He sells sales training/courses for like 90% margin (depending on cost of ads). Any new training, his fans will usually keep buying from him.

He then cross-sells them into his real estate fund, where he gets paid on buying and selling an asset + an asset management fee, and he probably uses his company to source debt and gets a fee off that.

Plus he's able to write off his jet and cars as a "business expense'

Blackwargreymon

Politicker

MDR

Now you can invest in a private company without being accredited. Small amounts of course. Check out startup engine

MaximumRaizer

Politicker

Sales Manager

Go with your gut is all I can tell you when it comes to these things.

Clashingsoulsspell

Politicker

ISR

Go with your gut is all I can tell you when it comes to these things.

MR.StretchISR

Politicker

ISR

He made his money in real estate decades ago, now pretends like he understands sales / tech too.

Mr.Floaty

Politicker

BDR

Win-win

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SalesPharaoh

How do people like Cardone make money? Are they legit or what?

41 comment

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