{"id":11796,"date":"2024-02-28T08:52:11","date_gmt":"2024-02-28T03:22:11","guid":{"rendered":"https:\/\/cccfornews.com\/index.php\/2024\/02\/28\/real-estate-investor-to-immediately-discontinue-business-in-nyc-over-trump-verdict\/"},"modified":"2024-02-28T08:52:11","modified_gmt":"2024-02-28T03:22:11","slug":"real-estate-investor-to-immediately-discontinue-business-in-nyc-over-trump-verdict","status":"publish","type":"post","link":"https:\/\/cccfornews.com\/index.php\/2024\/02\/28\/real-estate-investor-to-immediately-discontinue-business-in-nyc-over-trump-verdict\/","title":{"rendered":"Real Estate Investor to &#8216;Immediately Discontinue&#8217; Business in NYC Over Trump Verdict"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div data-td-block-uid=\"tdi_82\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p>Real estate investor Grant Cardone has made the decision to \u201cimmediately discontinue\u201d doing business in New York City over the recent Trump verdict. <\/p>\n<p>\u201cWe thought this year was the opportunity to come into Chicago, California and New York City. I\u2019ve been waiting for 40 years now to invest in that marketplace. I was completely confident this was the year to come,\u201d Cardone said. \u201cAnd when that ruling happened, it was like, pencils down. Don\u2019t touch it. Don\u2019t go there.\u201d<\/p>\n<p>Cardone also claimed that New York has risks \u201cthat outweigh the opportunities\u201d in terms of property value.<\/p>\n<p>\u201cWe invest for 14,000 investors at Cardone Capital that depend on cash flow. And if I can\u2019t predict the cash flow because of some ruling, or because of the migrants, or because I can\u2019t 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,\u201d the fund manager explained.<\/p>\n<p>\u201cLoan proceeds are based on the value of the property. They\u2019re going to require me to actually underwrite my property on the cash flow, the income of the property and what valuation I believe that property\u2019s worth. The broker also put a valuation on it,\u201d he continued, \u201cand then the bank is also going to use at least one other appraisal, maybe two, or independent of me.\u201d<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Dear Cardone Capital team,<\/p>\n<p>Immediately discontinue ALL underwriting on New York City real estate. The risk outweigh the opportunities at this time.<\/p>\n<p>Recent political decisions will continue to deteriorate price and benefit states that don\u2019t have these challenges.<\/p>\n<p>Focus on Texas\u2026 <a href=\"https:\/\/t.co\/nTdJ5d4dO5\">pic.twitter.com\/nTdJ5d4dO5<\/a><\/p>\n<p>\u2014 Grant Cardone (@GrantCardone) <a href=\"https:\/\/twitter.com\/GrantCardone\/status\/1760028821393186907?ref_src=twsrc%5Etfw\">February 20, 2024<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/americanfaith.com\/real-estate-investor-to-immediately-discontinue-business-in-nyc-over-trump-verdict\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Real estate investor Grant Cardone has made the decision to \u201cimmediately discontinue\u201d doing business in New York City over the recent Trump verdict. \u201cWe thought this year was the opportunity to come into Chicago, California and New York City. I\u2019ve been waiting for 40 years now to invest in that marketplace. I was completely confident [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11797,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[]},"categories":[43],"tags":[],"_links":{"self":[{"href":"https:\/\/cccfornews.com\/index.php\/wp-json\/wp\/v2\/posts\/11796"}],"collection":[{"href":"https:\/\/cccfornews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cccfornews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cccfornews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cccfornews.com\/index.php\/wp-json\/wp\/v2\/comments?post=11796"}],"version-history":[{"count":0,"href":"https:\/\/cccfornews.com\/index.php\/wp-json\/wp\/v2\/posts\/11796\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cccfornews.com\/index.php\/wp-json\/wp\/v2\/media\/11797"}],"wp:attachment":[{"href":"https:\/\/cccfornews.com\/index.php\/wp-json\/wp\/v2\/media?parent=11796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cccfornews.com\/index.php\/wp-json\/wp\/v2\/categories?post=11796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cccfornews.com\/index.php\/wp-json\/wp\/v2\/tags?post=11796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}