Grant Cardone On Buying and Selling Real-World Assets on the Blockchain

Benzinga

Buying and Selling Real-World Assets on the Blockchain. Why invest in real estate, how technology is transforming Grant Cardone's business. Interviewed by Mario Nawfal at Benzinga's Future Of Digital Assets 2024 event.

Transcript

00:00So like all the different use cases of kind of moving real world assets onto the blockchain,

00:04you know, accessibility, the efficiency of it, you know, leveraging smart contracts,

00:08fractionalizing real estate, it all makes sense.

00:10But you're saying that the most important hurdle is getting regulatory approval.

00:14How long do you think it would take for that to happen?

00:17I don't want to wait for it.

00:18So I mean, you know, nobody has shown me, oh, we're going to get rid of the middleman.

00:24You're not getting rid of the title.

00:26You're not getting rid of escrow.

00:28You're not getting rid of insurance.

00:29You're not going to get rid of the mortgage like I don't know what you're getting rid

00:32of.

00:33What are you getting rid of?

00:36It's like I and I have to wait to take a this isn't a single family home.

00:41This is not one house with one address.

00:43This is three or four or 500 units.

00:46I have rental.

00:47I have different leases, leases going through it constantly.

00:50Okay, I'm a break it up into 10,000 pieces.

00:53And it's going to sit on the blockchain.

00:54What are you going to do?

00:55You're going to you're going to transfer what happened?

00:59Like there's no there's no mathematical formula for how you trade that back and forth.

01:04And then why would you want to like, I just don't understand, you know, do I get rid of

01:10my title?

01:11Yeah, I guess I guess I get rid of my title insurance.

01:13I get rid of my or there's some middlemen that are going to go away.

01:16I don't I mean, maybe, but that's not why I'm buying real estate.

01:20I'm buying real estate because I think it's going to be more valuable in the future.

01:22It's going to provide me with cash flow.

01:25And then the big benefit, he's going to come back with bonus depreciation.

01:29I bet dinner that bonus depreciation goes back to 100%.

01:35So $100 million building should bring 40 or $50 million worth of tax write offs year one.

01:40How do I how do I put that on the blockchain?

01:42Who do I give it to?

01:43And by the way, once I give it to you, when you trade it on the blockchain, who did where

01:47did that depreciation go?

01:50And another thing though, you've done kind of step in the direction, getting your beak

01:54a bit wetter is putting your both.

01:56I think you put two homes on a blockchain based.

01:59Yeah.

02:00How did that go?

02:01We have we have a house in Malibu, and I have one in Golden Beach, Florida, and we put them

02:05both on on the what is it?

02:07Property?

02:08I put on property.

02:09Yeah.

02:10We're invested in them.

02:11Yeah.

02:12And.

02:13But so where's the offer?

02:16Where's the offer, bro?

02:17Like, who's going to trade Bitcoin for a piece of real estate?

02:21No point.

02:22Nobody's ever going to do that.

02:24You're not going to do it.

02:26Let's say Bitcoin goes to a million dollars.

02:27You're not going to trade your million dollars of Bitcoin.

02:29You're going to go bargain your million dollars.

02:31You're going to bar twenty two hundred fifty thousand dollars against your Bitcoin.

02:35You're going to take the 250 and buy your house.

02:37You're not going to trade your Bitcoin.

02:39Why would you?

02:41For toilets and termites, tenants, you're not going to do it.

02:45You're going to keep them both.

02:47What's better than just the Bitcoin?

02:49You know, the Bitcoin and the real estate.

02:51Have you gotten any offers yet?

02:53No, we didn't get any offers.

02:56But I mean, I got them priced into the, you know, up into the stratosphere.

02:59So, you know, basically their price where I just crack somebody.

03:03They might play a role.

03:05But it's great promotion.

03:06Like anything, anything to do with the Bitcoin space is going to be great promotion.

03:09It's just tremendous amounts of promotion.

03:12Now it's sexy.

03:13It's exciting.

03:14It's in the news.

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