Grant Cardone is a well-known real estate investor, sales trainer, and speaker who has made a significant impact in the world of real estate investing. With his years of experience, he argues that even with as little as $5,000, individuals can start their journey into the realm of property investment. According to Cardone, the key to getting started is to make smart decisions and leverage one’s resources wisely.

First and foremost, Cardone suggests that education should be your initial investment. While $5,000 might not buy you a property, it can pay for books, courses, and seminars that will give you the necessary knowledge and skill set to understand the market. Knowledge is power in real estate, and understanding where to invest and when are critical elements for success.

Another crucial tip from Cardone is to network with other investors. The world of real estate operates heavily on connections and relationships. Your $5,000 could be invested in attending networking events or joining real estate investment groups where you can meet mentors and potential business partners.

For those who are ready to jump straight into purchasing property with their $5,000, Grant Cardone recommends looking into real estate investment trusts (REITs), which allows individuals to invest in large-scale properties as part of a group. This option is less hands-on but can provide experience with the industry’s financial aspect while generating potential income through dividends.

When it comes to being more hands-on, another strategy suggested by Cardone is house hacking – purchasing a multi-family home, living in one unit while renting out the others. Although $5,000 might not be enough for a down payment on such a property by itself, it can help secure a mortgage alongside other financial strategies such as partnering with someone else or securing additional financing.

Finally, Grant Cardone emphasizes the importance of patience and thinking long-term. Initial investments may be small and seem insignificant but persisting through slow growth and continuing to learn and network can result in substantial gains over time.

In conclusion, according to Grant Cardone’s advice on starting in real estate investing with $5,000: invest in your education first, network actively in the industry, consider REITs for an easier entry point into property ownership or explore creative financing options for more direct investment opportunities — all while keeping a long-term perspective on your investments.