Investments

New York opens investigation into Trump real estate tax fraud allegations

State officials respond to bombshell New York Times report
New York state officials are investigating whether President Donald Trump, his father, and his family committed tax fraud in a series of complex real estate dealings designed to avoid federal tax laws, which supposedly built the president’s fortune, multiple outlets report. The investigation comes in the wake of a sprawling New York Times investigation into the Trump family and how the president made his money.
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Bernie Sanders wants to break up the nation’s biggest banks (again)

Sanders repeats campaign call to break up big banks
Back when he was a presidential candidate, Sen. Bernie Sanders, I-VT, called for sweeping reforms to the nation’s financial system, including breaking up the big banks. And now, he's at it again. On Wednesday, Sanders announced that he is introducing the “Too Big to Fail, Too Big to Exist Act,” which would break up JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley.
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NREI: Multifamily investors are still okay with low cap rates, but that could change soon

Current conditions could put an end to the bidding wars raging over multifamily properties
Despite major activity in the multifamily property purchase market, cap rates have remained largely unchanged since 2017. According to NREI’s analysis of Real Capital Analytics data, cap rates on apartment acquisitions have averaged 5.6% since 2017 with very little variance to date.
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The Green Bay Packers want all the Millennials to live next door

Team is making a play for Millennials with a mixed-use development across from Lambeau Field
The Green Bay Packers are building more than 200 housing units, 150 of them for rent and 90 for sale, right across from Lambeau Field. According to a report from Bloomberg by Justina Vasquez and Patrick Clark, this residential project is phase two of the Packers mixed-use real estate bid for Millennial’s interest, Titletown.
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Roofstock offering investors guaranteed rent on single-family rental homes

Company will pay investors rent on vacant properties for 12 months
Roofstock, a platform for buying and selling single-family rental homes, is offering a unique carrot to try to entice investors to use its platform to buy a property: guaranteed rent. Roofstock announced Tuesday that it is rolling out what it calls an “industry-leading” guarantee that provides up to 12 months of rent on a vacant property purchased through the company’s platform.
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Goldman Sachs economist claims little chance of recession in the next 3 years

Daan Struyven's research indicates the U.S. economy is only midway through its expansion
Worried about the coming recession? Don't be. Goldman Sachs is calling bull on all the bearish naysayers out there. According to the famed firm, the U.S. is only in the middle of its economic expansion and the possibility of a recession in the next three years is “below average.”
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Former bassist for The Ataris admits to masterminding multi-million-dollar real estate scam

Scheme defrauded more than 100,000 people
The former bass player in The Ataris, a rock band that gained notoriety with a 2003 cover of Don Henley’s “The Boys of Summer,” admitted in court late last week that he spearheaded a massive real estate scam that defrauded more than 100,000 people nationwide out of more than $25 million.
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Cherre raises $9 million to help investors buy real estate using AI

Real estate data platform closes seed funding round
Cherre, a nascent real estate data platform that uses AI to help investors identify real estate acquisition targets, just raised $9 million in seed funding to grow its business. Companies using Cherre’s platform gain access to information like property history, demographics and market comparisons, which can be used to improve their decision-making process.
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WSJ: California becomes first state to mandate gender-balanced boards

Gov. Jerry Brown signed the bill into law on Sunday, legal fights ahead for the ambitious diversity bid
Over the weekend, California became the first state to mandate that publicly held companies based in the state have at least two to three women on their boards of directors. The new law mandates that all publicly traded companies with headquarters in the state to have at least one woman on their boards by the end of next year and that by 2021, companies with at least five board directors will have to include two or three women or face financial penalties.
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