I know. In the past, I have said buying a house was a bad idea. Buying a house on “Billionaire’s Beach” in Malibu, California sounds like an even more reckless idea.

Haters will say, “Cardone doesn’t take his own advice.” I heard it all when I bought Tommy Hilfiger’s Miami home last May for $28 million.

However, there is a method to my madness. 

This is how I made sense of this $40 million Carbon Beach deal.

You do crazy things for love 

I’ll admit that the number one reason that I bought this house is that I fell in love with it.

The first time I saw the property, I was on a break from filming Undercover Billionaire in 2020. Strolling along the shore in Malibu, I was immediately struck by this castle on the beach. 

After that, I started investigating to see who owned the place. I found out the home was owned by Ukrainian businessman, Vadim Shulman. I made him an offer off-market, which he refused.

That didn’t stop me. I persisted with him for over a year and he finally gave in. 

The location is amazing, with 150 feet of beach access.

As busy as my life can be, this is just the type of place that I want for quiet time in with my family. That would be reason enough for me to do this deal. 

Billionaire’s Beach Malibu mansion for a steal

To be totally transparent, I feel I stole this house. What I paid for this 6-bedroom, 10-bathroom on the most desirable beach in California was $10 million less than the original asking price.

How did I pull that one off?

There were a few factors other than the initial awe and location that drew me to it. When I looked into the Billionaire’s Beach property’s owner and its history, I discovered that Schulman hadn’t lived in the place for some time. 

This made the house essentially lifeless. I knew that a “lifeless” home can usually be acquired for a significant amount less than its original value. And that is exactly what happened. 

Those were all the factors that went into making sense of buying a house in Billionaire’s Beach in Malibu. One of my first principles of real estate investing is knowing how to exit the deal before you even buy it. Because of the price I paid and future improvements, I expect I will turn a profit if or when I sell the property. 

Until then, I’m going to enjoy one of the most beautiful beaches in style. 

Grant Cardone

H/T: Malibu Times

Featured image source: MLS / Compass

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