Grant Cardone is facing a class action lawsuit from an investor in two of Cardone Capital’s Equity Funds.
In the class action lawsuit, the plaintiff discusses many of the false and misleading claims that Grant Cardone promotes on his social media accounts. Grant consistently promotes a huge rate of return which he is not performing on right now.
Most of the complaints revolve around Grant Cardone’s use of his social media accounts to promote Cardone Capital and how great of a return you will receive when you invest in his funds. One of his posts contains the message that the investor will double their money.
Cardone Capital Equity Funds are syndication funds for accredited and non-accredited investors to invest in real estate with as little as $5,000. The funds generally have a 4-6% yearly cash return and then have a huge payout when the property is sold multiple years later. The issue with Cardone Capital Equity Funds is that they may not be able to exit the properties with the same profit split as was expected, due to the situation of 2020 and rents not possibly seeing a similar increase as the last decade.
Cardone purchases large multi family buildings in A and B neighborhoods, which are the most stable and generate the highest rents. The issues that Cardone faces is that they also have low cash returns for the stability they provide. What happens when rents drop or aren’t collected? That leaves a razor thin margin for management to continue paying distributions.
In the end, I don’t want any of the small investors to lose money, but I do want to see Grant Cardone face some punishment for his incessant claims that large multi family real estate is the only way for real estate investors to make money.
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Why Grant Cardone Getting Sued Is GREAT for Real Estate Investors
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