![‘I wouldn’t touch [them] with anybody’s money’: Grant Cardone says these two major US cities are some of 'the worst markets to be in right now' for real estate investors — here's why](https://s.yimg.com/ny/api/res/1.2/FN40g8dBbOcw.AP.pWb9ew--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQyNw--/https://media.zenfs.com/en/moneywise_327/ed933f8a1fda86173ad21d97afe47dee)
Prolific real estate investor Grant Cardone has singled out two U.S. property markets he wouldn’t touch with a 10-foot pole: Austin and Seattle.
Cardone shared this hot take — and many others — in an interview with Moneywise after he prompted an AI chatbot to answer the question: “What are the 10 best markets for investing in rental real estate in America?”
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The AI Smith response started with: “The best markets for investing in real estate in America can vary depending on factors such as population growth, job opportunities, rental demand, affordability and potential rental income.”
Up until that point, Cardone — who performed the task live on camera — was pretty happy with the response. But when the AI listed Austin, Texas, as the best market for investing in real estate, the investment guru blew up.
“Austin, Texas is one of the worst markets to be in right now,” he exclaimed. “Of all the markets in America, it’s probably the most overbuilt.”
Here’s why an overbuilt property market is bad for real estate investors — and how you can still invest without taking on all the risk yourself.
Overbuilt property markets
The top 10 American cities for investing in real estate AI Smith listed for Cardone are: Austin (TX), Dallas (TX), Nashville (TN), Atlanta (GA), Raleigh (NC), Phoenix (AZ), Tampa (FLA), Denver (CO), Charlotte (NC), Seattle (WA).
But he wasn’t happy with that response.
“Those [top] four markets are all on the top five list of the…
