to have families and new generations unwilling or able to take on the responsibility of homeownership. Seventy-five million aging baby boomers further exaggerate the situation as they move into retirement. Millennials are having families later than at any time in history and delaying the home purchase decision, so they are more likely to rent. It is also important to mention that unlike stocks and bonds, banks will lend you money to buy an apart- ment building. When it comes to tax benefits, properties held longer than one year are taxed at lower rates than personal income, and cash flow produced from real estate is taxed at lower rates. All interest, expenses,
maintenance repairs, and deprecia- tion are tax-deductible items. If assets are bubbling and are going to top out, it will be across stocks and the crypto craze, not real assets that produce cash flow and benefit from inflation and tax harbors.
Apartments can produce passive income for generations and great returns, but without the risks of oth- er investments. That is the beauty of real estate. You can see it and touch it, and people live in it and use it. No technology today can replace it. •
Grant Cardone owns and operates seven privately held companies and Cardone Capital, a private equity real estate firmwith a multifamily portfolio of assets worth more than $3.6 billion. Cordone is one of the top crowdfunders in the world, raising over $740 million in equity via social media. He is featured on Season 2 of Discovery Channel’s “Undercover Billionaire,” where he takes on the challenge of building a million dollar business in 90 days. Cordone is also a New York Times bestselling author of 11 business books, including “The 10X Rule,” which led him to establish the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platforms Cordone created serve more than 350,000 individuals and Forbes 100 clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 15 million plus following to give back via his Grant Cardone Foundation, a nonprofit organization dedicated to mentoring underprivileged and troubled youth in financial literacy.
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