Uploaded March 2026 | Updated September 2026, 2 weeks ago
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San Diego is one of the most beautiful cities in America…
but in real estate, beauty doesn’t matter if the deal doesn’t CASH FLOW.
In this episode, Real Estate King Grant Cardone returns to San Diego, California — the city that helped make him a millionaire — to find a trophy deal and a partner worth backing.
And Grant is NOT playing nice.
He tears through deal after deal:
negative leverage “trophy” properties
overpriced luxury flips with no margin
development deals loaded with risk and delays
investors who don’t know their numbers
Grant has to choose between:
a 64-unit multifamily in Claremont
a 76-unit garden-style complex in National City
and an 8-unit Pacific Beach rental with cash flow right now
But the twist is…
the best real estate is brought by the guy Grant trusts the least.
00:00 Real estate is the greatest wealth generator (Grant’s rule)
00:42 “Find me a great property” (cash flow mindset)
01:12 Why San Diego made Grant a millionaire
01:39 San Diego market breakdown + rental demand
01:58 Average home price = $850K (why renters win here)
02:17 Deal #1: 64-unit Claremont multifamily ($17.5M)
02:56 97% occupancy + rent control reality
03:31 “If they’re taping that… what else are they taping?”
03:47 Grant explains raising rents = survival
04:19 Grant loses it after tenant bedroom stunt
05:08 Negative leverage problem (3.5 cap vs 5.75 debt)
06:03 Grant’s demand: “I want the place emptied in 90 days”
06:50 Deal #2: La Jolla Shores luxury single family ($4.2M)
07:48 She already has an offer (Grant refuses to be a backup)
08:55 “One deal, no exits” (Grant walks away)
09:36 Grant explains why he won’t settle right now
09:56 Deal #3: Pacific Beach 8-unit multifamily ($3.85M)
10:48 Grant hates the first impression… then loves the property
11:24 Rent jump strategy (without adding value)
12:16 “I don’t like him… but I love his property”
12:47 Hard money loan at 9% (Grant explodes)
13:17 “What else have you lied about?” moment
13:39 Deal #4: Pacific Beach teardown + coastal commission risk
14:39 Coastal commission = nightmare (Grant bails)
15:51 Grant gets pulled back in by the “seller in trouble” angle
16:08 Homework: prove net worth + worst case scenario
16:51 Billy Jean market talk (San Diego prices + greed)
17:24 “When they’re greedy, be fearful” warning
17:53 Deal #5: Barrio Logan 8-unit development pitch ($1.3M)
19:20 Grant calls it out: “You want me to buy the side that isn’t done”
20:13 Grant rejects the deal
20:33 Deal #6: Grant Hill 42-unit adaptive reuse project
21:24 Opportunity zone pitch (no capital gains)
21:59 Grant rejects it (too much risk + complexity)
22:34 Deal #7: National City 76-unit multifamily ($17M)
23:09 Grant loves the scale + garden-style footprint
23:58 Cash-for-keys budget debate (tenants won’t leave cheap)
24:30 Renovated unit tour + capex skepticism
25:21 “Vertically integrated up my ass” (Grant calls it out)
25:50 Missing partner = trust issue
26:24 Deal #8: Allied Gardens single family flip ($680K)
27:32 Tiny profit + huge headache (Grant hates it)
28:32 Grant gets emotional (helping someone who needs a shot)
29:10 Homework: rental plan vs flip plan
29:56 Final showdown begins (who wins the partnership?)
30:51 National City partner finally shows up
32:01 Pacific Beach deal proof: leases shown
33:06 Coastal commission deal gets eliminated
35:53 Fernando gets eliminated (one-door risk)
37:38 Cap rate vs debt reality (both big deals lose money early)
39:17 Split negotiation blows up (Grant walks away)
40:41 Final decision: Grant chooses Pacific Beach
41:00 “Location, location, location” (why Grant buys it)
41:33 Wrap up + Text INVEST CTA
Learn How To Use Real Estate To Reduce Taxes And Build Wealth Like Top Billionaires: grantcardone.com/cashflow
Want to be on the show? Post your location in comments and share the show..... we will reach out to you.
San Diego is one of the most beautiful cities in America…
but in real estate, beauty doesn’t matter if the deal doesn’t CASH FLOW.
In this episode, Real Estate King Grant Cardone returns to San Diego, California — the city that helped make him a millionaire — to find a trophy deal and a partner worth backing.
And Grant is NOT playing nice.
He tears through deal after deal:
negative leverage “trophy” properties
overpriced luxury flips with no margin
development deals loaded with risk and delays
investors who don’t know their numbers
Grant has to choose between:
a 64-unit multifamily in Claremont
a 76-unit garden-style complex in National City
and an 8-unit Pacific Beach rental with cash flow right now
But the twist is…
the best real estate is brought by the guy Grant trusts the least.
00:00 Real estate is the greatest wealth generator (Grant’s rule)
00:42 “Find me a great property” (cash flow mindset)
01:12 Why San Diego made Grant a millionaire
01:39 San Diego market breakdown + rental demand
01:58 Average home price = $850K (why renters win here)
02:17 Deal #1: 64-unit Claremont multifamily ($17.5M)
02:56 97% occupancy + rent control reality
03:31 “If they’re taping that… what else are they taping?”
03:47 Grant explains raising rents = survival
04:19 Grant loses it after tenant bedroom stunt
05:08 Negative leverage problem (3.5 cap vs 5.75 debt)
06:03 Grant’s demand: “I want the place emptied in 90 days”
06:50 Deal #2: La Jolla Shores luxury single family ($4.2M)
07:48 She already has an offer (Grant refuses to be a backup)
08:55 “One deal, no exits” (Grant walks away)
09:36 Grant explains why he won’t settle right now
09:56 Deal #3: Pacific Beach 8-unit multifamily ($3.85M)
10:48 Grant hates the first impression… then loves the property
11:24 Rent jump strategy (without adding value)
12:16 “I don’t like him… but I love his property”
12:47 Hard money loan at 9% (Grant explodes)
13:17 “What else have you lied about?” moment
13:39 Deal #4: Pacific Beach teardown + coastal commission risk
14:39 Coastal commission = nightmare (Grant bails)
15:51 Grant gets pulled back in by the “seller in trouble” angle
16:08 Homework: prove net worth + worst case scenario
16:51 Billy Jean market talk (San Diego prices + greed)
17:24 “When they’re greedy, be fearful” warning
17:53 Deal #5: Barrio Logan 8-unit development pitch ($1.3M)
19:20 Grant calls it out: “You want me to buy the side that isn’t done”
20:13 Grant rejects the deal
20:33 Deal #6: Grant Hill 42-unit adaptive reuse project
21:24 Opportunity zone pitch (no capital gains)
21:59 Grant rejects it (too much risk + complexity)
22:34 Deal #7: National City 76-unit multifamily ($17M)
23:09 Grant loves the scale + garden-style footprint
23:58 Cash-for-keys budget debate (tenants won’t leave cheap)
24:30 Renovated unit tour + capex skepticism
25:21 “Vertically integrated up my ass” (Grant calls it out)
25:50 Missing partner = trust issue
26:24 Deal #8: Allied Gardens single family flip ($680K)
27:32 Tiny profit + huge headache (Grant hates it)
28:32 Grant gets emotional (helping someone who needs a shot)
29:10 Homework: rental plan vs flip plan
29:56 Final showdown begins (who wins the partnership?)
30:51 National City partner finally shows up
32:01 Pacific Beach deal proof: leases shown
33:06 Coastal commission deal gets eliminated
35:53 Fernando gets eliminated (one-door risk)
37:38 Cap rate vs debt reality (both big deals lose money early)
39:17 Split negotiation blows up (Grant walks away)
40:41 Final decision: Grant chooses Pacific Beach
41:00 “Location, location, location” (why Grant buys it)
41:33 Wrap up + Text INVEST CTA
Learn How To Use Real Estate To Reduce Taxes And Build Wealth Like Top Billionaires: grantcardone.com/cashflow
