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Grant Cardone argues homeowners never truly own their property
He says property taxes, insurance, and maintenance costs continue even after a mortgage is paid off.
Grant Cardone, in comments highlighted by Yahoo Finance, argues that buying a home does not amount to true ownership because property taxes, insurance, and maintenance remain ongoing costs.
Cardone says the math does not change once a mortgage is paid, adding that homeowners continue to pay those expenses and that the arrangement is more like a partnership than outright control.
In a separate point, he distinguishes primary residences from rental or commercial properties, saying a home lived in by the owner produces no monthly income while rental or income properties can generate cash flow.
Cardone’s advice to families is to skip purchasing a home and instead rent, while redirecting money toward assets he says can pay back monthly, such as income producing real estate like apartments, storage, or land.