Grant Cardone: 2 Places To Invest In Real Estate Right Now for Big Profits

Grant Cardone, fund manager and CEO of Cardone Capital and Cardone Training Technologies, has built a profitable real estate empire thanks to his ability to choose the right properties in the right places.

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“[Real estate investors] should not look for the lowest price — they should look for the best location,” he told GOBankingRates.

These are the two locations Cardone recommends buying in right now. The real estate mogul also revealed the No. 1 mistake to avoid when investing in real estate .

Money mistakes the super wealthy never make - that you might be doing now.

Invest In Southern California Real Estate

Cardone, who will be hosting his 2024 Real Estate Summit in Miami from Oct. 14 to 15, said there are not many great places to invest in real estate right now.

“There are more bad places to buy real estate than there are good places,” he said. “There are actually very few great places to buy real estate.”

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The best places to buy in right now are major cities, particularly in Southern California, Cardone said.

“I’m trying to buy something in San Diego and Orange County right now,” he said. “[These areas] have a lot of regulations, and regulations increase the cost of housing, because it takes longer to build. If it takes longer to build, that means the product is scarce. And if the product is scarce, that means investors make more money on it when they own it.”

These areas are also home to people who are willing and able to pay premium prices for housing.

“This is where all the rich people live,” Cardone said.

According to Cardone, while you may be tempted to buy real estate in places where housing is cheap, this likely won’t pay off.

“Jackson, Mississippi, has the worst housing market in the country,” he said. “It’s the cheapest, but there’s no jobs, there’s no opportunity. It’s just dead — it’s a dead market. There are parts of Michigan that are never going to recover. There are all these spots across America that are just dead zones.”

This article originally appeared on GOBankingRates.com : Grant Cardone: 2 Places To Invest In Real Estate Right Now for Big Profits