Buying and Selling Real-World Assets on the Blockchain. Why invest in real estate, how technology is transforming Grant Cardone's business. Interviewed by Mario Nawfal at Benzinga's Future Of Digital Assets 2024 event.
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00:00So like all the different use cases of kind of moving real world assets onto the blockchain,
00:04you know, accessibility, the efficiency of it, you know, leveraging smart contracts,
00:08fractionalizing real estate, it all makes sense.
00:10But you're saying that the most important hurdle is getting regulatory approval.
00:14How long do you think it would take for that to happen?
00:17I don't want to wait for it.
00:18So I mean, you know, nobody has shown me, oh, we're going to get rid of the middleman.
00:24You're not getting rid of the title.
00:26You're not getting rid of escrow.
00:28You're not getting rid of insurance.
00:29You're not going to get rid of the mortgage like I don't know what you're getting rid
00:32of.
00:33What are you getting rid of?
00:36It's like I and I have to wait to take a this isn't a single family home.
00:41This is not one house with one address.
00:43This is three or four or 500 units.
00:46I have rental.
00:47I have different leases, leases going through it constantly.
00:50Okay, I'm a break it up into 10,000 pieces.
00:53And it's going to sit on the blockchain.
00:54What are you going to do?
00:55You're going to you're going to transfer what happened?
00:59Like there's no there's no mathematical formula for how you trade that back and forth.
01:04And then why would you want to like, I just don't understand, you know, do I get rid of
01:10my title?
01:11Yeah, I guess I guess I get rid of my title insurance.
01:13I get rid of my or there's some middlemen that are going to go away.
01:16I don't I mean, maybe, but that's not why I'm buying real estate.
01:20I'm buying real estate because I think it's going to be more valuable in the future.
01:22It's going to provide me with cash flow.
01:25And then the big benefit, he's going to come back with bonus depreciation.
01:29I bet dinner that bonus depreciation goes back to 100%.
01:35So $100 million building should bring 40 or $50 million worth of tax write offs year one.
01:40How do I how do I put that on the blockchain?
01:42Who do I give it to?
01:43And by the way, once I give it to you, when you trade it on the blockchain, who did where
01:47did that depreciation go?
01:50And another thing though, you've done kind of step in the direction, getting your beak
01:54a bit wetter is putting your both.
01:56I think you put two homes on a blockchain based.
01:59Yeah.
02:00How did that go?
02:01We have we have a house in Malibu, and I have one in Golden Beach, Florida, and we put them
02:05both on on the what is it?
02:07Property?
02:08I put on property.
02:09Yeah.
02:10We're invested in them.
02:11Yeah.
02:12And.
02:13But so where's the offer?
02:16Where's the offer, bro?
02:17Like, who's going to trade Bitcoin for a piece of real estate?
02:21No point.
02:22Nobody's ever going to do that.
02:24You're not going to do it.
02:26Let's say Bitcoin goes to a million dollars.
02:27You're not going to trade your million dollars of Bitcoin.
02:29You're going to go bargain your million dollars.
02:31You're going to bar twenty two hundred fifty thousand dollars against your Bitcoin.
02:35You're going to take the 250 and buy your house.
02:37You're not going to trade your Bitcoin.
02:39Why would you?
02:41For toilets and termites, tenants, you're not going to do it.
02:45You're going to keep them both.
02:47What's better than just the Bitcoin?
02:49You know, the Bitcoin and the real estate.
02:51Have you gotten any offers yet?
02:53No, we didn't get any offers.
02:56But I mean, I got them priced into the, you know, up into the stratosphere.
02:59So, you know, basically their price where I just crack somebody.
03:03They might play a role.
03:05But it's great promotion.
03:06Like anything, anything to do with the Bitcoin space is going to be great promotion.
03:09It's just tremendous amounts of promotion.
03:12Now it's sexy.
03:13It's exciting.
03:14It's in the news.