Real estate tycoon Grant Cardone recently made headlines by redirecting $500 million, originally intended for investment in New York City, to Fort Lauderdale, Florida. This bold move came after a New York judge ordered former President Donald Trump and his companies to pay $364 million in penalties for fraudulent practices related to inflating Trump’s net worth.
Cardone’s decision to shift his investment focus sparked a conversation among his followers and the financial community. Some praised his strategic move, while others raised questions about the impact on investors in his funds. As Cardone explained in a post, “When governments make irrational decisions, money flows to more business-friendly markets.”
This shift in investment strategy is not unique to Cardone. There is a broader trend of investors moving away from blue states like New York, California, and Delaware in search of more favorable business environments. As one follower pointed out, “Smart money is moving to more business-friendly environments.”
In response to the ruling in New York, Cardone, a vocal supporter of Trump, announced his decision to “immediately discontinue” doing business in the city. He emphasized the importance of predicting cash flow for the thousands of investors at Cardone Capital who rely on returns from their investments.
In a show of solidarity with Trump, Cardone encouraged his followers to donate to the “Unjust Judgment GoFundMe” account. He was not alone in his criticism of the judge’s ruling, as “Shark Tank” star Kevin O’Leary also denounced the decision as unjust and un-American.
While traditional real estate investment can be lucrative, it can also come with challenges. For those looking to tap into the benefits of real estate without the hassle of property ownership, platforms like Arrived Homes offer investment opportunities in short-term loans backed by residential real estate. With a target annual yield of 7% to 9% and a minimum investment of $100, investors can access the real estate market without becoming landlords.
For those interested in exploring fractional real estate investment opportunities, tools like the Benzinga Real Estate Screener can help identify the latest offerings. Additionally, speaking to a financial advisor can provide valuable insights on how to leverage investments to build a robust portfolio.
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