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Grant Cardone has a $5 billion real estate portfolio that is spread across thousands of apartment units. He has shared his real estate investing mentality in various books, podcast interviews, and videos, but he recently let the cat out of the bag with his recent X post.
He revealed the best location to buy properties and referred to it as “irreplaceable real estate.”
He’s referring to the real estate between Palm Beach and Miami. Cardone has been bullish on South Florida for many years. For instance, he acquired a $58 million South Florida apartment portfolio back in 2012. He has continued to invest more capital into the region with Cardone Capital.
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What makes that part of South Florida more attractive than the rest of the country? Cardone shared several reasons why it’s a prime area for real estate investors.
South Florida is a desirable travel destination due to its warm weather and waters. Snowbirds flock to the Sunshine State during the winter. While there are many states that welcome people who want to escape the cold, South Florida offers plenty of things to do.
Furthermore, the area’s status as a travel destination has helped to turn it into a worldwide appeal. Miami is a major financial hub. It’s commonly referred to as “Wall Street South,” and its favorable business policies can attract more companies to the area. As this trend continues to grow, South Florida will strengthen its appeal as a travel destination.
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South Florida isn’t only attracting tourists. It’s also bringing in more residents. South Florida has benefited immensely from New Yorkers and Californians fleeing their states for lower taxes and pro-business policies.
The influx of companies and individuals has resulted in strong job growth in the region. Cardone pegs positive job growth as a critical advantage that has helped to set the region apart from the rest of the U.S.
More jobs will increase the demand for products and services. Businesses can reach more customers in South Florida, and as the population continues to grow, companies will enjoy more pricing power. That pricing power also affects real estate, allowing landlords to raise rent.