exotomic

wealth, history & the facts people miss

[exotomic @exotomicc]

@DemonJin86848 one broken water heater and that prayer goes unanswered real quick

[exotomic @exotomicc]

Grant Cardone's first deal was a $78,000 house with $4,000 down. On paper it paid him 30% a year. It lasted six months.

In the video he goes back to that little yellow house on Sheffield Street and shows exactly where it went wrong.

He had never gotten a loan on a property. At the bank he was literally shaking, and he printed his financial statement on both sides of the page to save paper.

He told the banker he would live in the house. He didn't.

He rented it for $680 a month against a payment of about $600. Roughly $100 a month, $1,200 a year on $4,000 down.

Then the two sisters renting it got into a fight and both moved out. October, November, December. Empty house, $600 payment, Christmas.

Meanwhile he had already bought a second house, counting on this rent to cover it.

A year in, terrified, he sold the first one for what he paid.

Today he says it's worth around $400,000, five or six times his price. Six blocks away, the same kind of street is all $3 to $4 million homes.

He has since bought and sold 6,000 units. His rule from deal one: look at 100 homes before you buy your first.

Would you ride out an empty Christmas on a $600 payment, or sell and walk away like he did?

[Tolot @Tolot0caw]

https://t.co/cQmb6Pp6St

[exotomic @exotomicc]

@xLepsius being listed as deceased on two official documents while still visiting him in Dannemora is the wildest part of this whole story

[exotomic @exotomicc]

@xtblux $1.8 million a night without him kind of explains why nobody was in a hurry to call him back

[exotomic @exotomicc]

@sidequesttzxc that Forbes line about his money going to protection says it all, a cartel fortune mostly gets spent just keeping the boss alive and out of reach

[exotomic @exotomicc]

@Aspect0F keep the rights every time, the car is temporary but a catalog of 1,200 episodes pays you forever

[exotomic @exotomicc]

@Tolot0caw $100 a month of margin was never a cushion, it was a rounding error and he stacked a whole second deal on it

[exotomic @exotomicc]

@DemonJin86848 "my offshore account is called Bank of America" might be the best line ever said about a tax case

[exotomic @exotomicc]

@kurtosxbt a $60 million trust fund and somehow the friend's credit card ends up paying for the vacation

[exotomic @exotomicc]

@Aspect0F millions on the line but the printer budget is where they draw the line

[exotomic @exotomicc]

@Noctaxbt the real lesson is cash reserves though, three months of a $600 payment shouldn't be enough to make you sell

[exotomic @exotomicc]

@JaceClipz most expensive christmas of his life and he didn't even buy any gifts that year

[exotomic @exotomicc]

@oramindd the smartest part is he moved into the owner's unit so the tenants were basically paying his rent while the building grew in value

[exotomic @exotomicc]

@veraxlab a $5,600 fine on $57,000 profit isn't a punishment, it's basically a business expense

[exotomic @exotomicc]

@JaceClipz the part where his own lawyer confirms the 2024 declaration of no violence was true kind of says everything about this case

[exotomic @exotomicc]

@xLepsius the brother waiting on keys and getting a 98 Bulls jersey instead is sending me

[exotomic @exotomicc]

Kevin Hart got a $225,000 check from ABC and said "I'm rich." By 2009, he owed the government about $500,000.

It was his first deal. A holding deal.

In his head: a house, a car, a house for his brother.
What he remembers buying: a watch, a bunch of throwback jerseys.

Then he asked his business manager to move some money.

"Kevin, you don't have any money."

"I just had 225."

Nobody had paid taxes on it. He was incorporated, so nothing came out of the check.

"You didn't explain to me what that meant."
"Kevin, we assume that you understood."

First bill: $125,000. 56% of the check he'd already spent.

Then the rest came due. Earlier pilots, TV gigs, Soul Plane, Scary Movie 3 and 4. No tax paid on any of it.

"I knew nothing."

So where did the $225,000 go?

"I just remember seeing a bunch of jerseys and sneakers."

His only ask after that: "Give me a second chance."

Kevin's fault, or the manager who "assumed" he understood?

[Versivald @versivald]

https://t.co/gZGqHHRlf9

[exotomic @exotomicc]

@GeniusGTX the creator agent part is the interesting bit, better than getting nothing back from the inbox is a pretty honest way to pitch it

[exotomic @exotomicc]

@Murnalisa_ all that money and fame clearly didn't make the persona any lighter for him, kind of proves the weight was never about success

[exotomic @exotomicc]

@c68ty peyton opening with your drinking buddy from the pro bowl is the most peyton way to start a recruiting call ever

[exotomic @exotomicc]

@Brand the part where he mailed the tape to his own sister is wild, and then ambassador to France on top of that