Posted on Feb 27, 2024
Real Estate Investor to 'Immediately Discontinue' Business in NYC Over Trump Verdict - American...
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The New York conviction of President Trump for fraud will have consequences. This is just the first. Hopefully, the NY AG and Prosecutor as well as the judge in that case will face charges for abuse of power. As other real estate developers have said publicly, President Trump did nothing that they have done themselves. Actually, nothing that those of us who have major purchases have done. We all present ourselves and our value in the best light to negotiate the best terms on the loans we seek. That is not fraud. However, NY law, like so many laws, are poorly crafted and can be used for political purposes. You don't think so? You aren't paying attention
Real Estate Investor to 'Immediately Discontinue' Business in NYC Over Trump Verdict - American...
Posted from americanfaith.comPosted in these groups: 
Political Opinions
Political Opinions
Posted 9 mo ago
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Even though they were assured they have nothing to worry about, because they don't plan on going after anyone else. But it wasn't political! LMAO
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“We invest for 14,000 investors at Cardone Capital that depend on cash flow. And if I can’t predict the cash flow because of some ruling, or because of the migrants, or because I can’t evict people, New York City just keeps doing every single thing they can to sell real estate in Florida, not sell real estate in New York,” the fund manager explained.
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LTC Kevin B.
Honestly, his commentary is a bunch of financial jargon that most people won't even understand how it's material to the political point this guy is trying to make. In this case, his financial commentary isn't material to his political point. The cash flows from these properties are based on the initial purchase/construction/renovation costs, ongoing repair/upkeep/management costs, and the rent payments from tenants. None of those are impacted by a legal settlement for committing fraud. If Cardone Capital doesn't commit fraud, the cash flows are unchanged.
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CSM Chuck Stafford
LTC Kevin B. - Tracking all -- Your last statement is spot on, but the lines on fraud for New York are no longer the established norms and seemingly arbitrary. New York needs to shore up that perception.
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False headline. The vast majority of his group's properties are in FL, with the remainder being in TX, AL, GA, AZ, and MD. His group doesn't hold any investments in NY.
Quote from the article: “We thought this year was the opportunity to come into Chicago, California and New York City. I’ve been waiting for 40 years now to invest in that marketplace. I was completely confident this was the year to come,” Cardone said. “And when that ruling happened, it was like, pencils down. Don’t touch it. Don’t go there.”
He'll continue not investing in a location where he hasn't been investing for 40 years.
Quote from the article: “We thought this year was the opportunity to come into Chicago, California and New York City. I’ve been waiting for 40 years now to invest in that marketplace. I was completely confident this was the year to come,” Cardone said. “And when that ruling happened, it was like, pencils down. Don’t touch it. Don’t go there.”
He'll continue not investing in a location where he hasn't been investing for 40 years.
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SGT (Join to see)
CPT Jack Durish - I thought the story would be investing and economics, not political opinion.
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