Rick Caruso: Why Billionaire Rick Caruso Gives His Personal Cell to Strangers and Neighbors | E177

In this episode of In Search of Excellence, Randall Kaplan sits down with Rick Caruso, the billionaire real estate developer and former Los Angeles Mayoral candidate who revolutionized the retail industry. From the iconic Grove to the Rosewood Miramar Beach, Caruso’s properties attract more visitors annually than Disneyland. But his journey wasn't a straight line to success. Rick opens up about his father’s legal troubles and prison time, the power of resilience, and why he believes "shit work" is essential for young entrepreneurs. We also dive deep into his controversial but effective views on solving homelessness in Los Angeles and the specific business strategies that allow his properties to outperform the national average by 3x.Timestamps:00:00 - Intro: Why doesn't a billionaire solve homelessness?01:42 - Rick’s family roots & the rubber band on his money clip 03:59 - Dealing with his father’s legal trouble and prison sentence 07:23 - The "Dollar Rent A Car" comeback story 10:49 - Rick’s plan to fix the homeless crisis in LA 14:40 - Why you need to do the "shit work" to succeed 17:37 - Is college necessary today? (USC & Marshall School) 22:34 - Rick’s first real estate deal: The Midvale Duplex 24:05 - The "Parking Lot Strategy" and 100% financing 31:43 - The vision behind The Grove & the famous trolley 35:39 - The art of Cold Calling & Networking38:17 - Why Caruso properties earn 3x the national average 41:34 - Building the Rosewood Miramar Beach & defying NIMBYs Make sure to LIKE, COMMENT, and SUBSCRIBE for more interviews with the world's most successful people!About the GuestRick Caruso is the Founder and Executive Chairman of Caruso, one of the largest and most admired privately held real estate and hospitality companies in the United States. A visionary developer, Rick is known for creating community-centric destinations like The Grove, The Americana at Brand, and Palisades Village that have redefined the retail experience. He served as the President of the Los Angeles Police Commission and the President of the USC Board of Trustees, and in 2022, he ran for Mayor of Los Angeles.Want to Work One-on-One with Me?I coach a small group of high achievers on how to elevate their careers, grow their businesses, and reach their full potential both professionally and personally.If you're ready to change your life and achieve your goals, apply here: https://www.randallkaplan.com/coaching Listen to my Extreme Preparation TEDx Talk here: https://www.youtube.com/watch?v=MIvlFpoLfgs Listen to this episode on the go!Apple Podcasts: https://podcasts.apple.com/us/podcast...Spotify: https://open.spotify.com/show/23q0XIC... For more information about this episode, visit https://www.randallkaplan.com/ Follow Randall!Instagram: @randallkaplan LinkedIn:  @randallkaplan TikTok:  @randall_kaplan Twitter / X: https://x.com/RandallKaplanWebsite: https://www.randallkaplan.com/1-on-1 Coaching: https://www.randallkaplan.com/coachingAbout Randall Kaplan: Randall Kaplan is a serial entrepreneur, venture capitalist, executive coach, co-founder of Akamai Technologies, founder and CEO of JUMP Investors, and host of In Search of Excellence. Through his Extreme Preparation™ methodology, he helps founders, executives, business owners, and ambitious professionals improve strategy, communication, decision-making, and execution.Coaching and Staying Connected:1-on-1 Coaching | Instagram | YouTube | TikTok | LinkedIn | X