News 

A 53-year-old worth $3.4 million is sticking with 2 strategies to keeping building his wealth

“He also invests in real estate through the crowdfunding platform Fundrise” writes Tanza Loudenback for businessinsider.com. “Unless you have a high income allowing you to save more, there is no better way to become wealthy than by using leverage to purchase real estate,” he said.The man credits the bulk of their wealth to saving in retirement accounts and investing in real estate — two strategies he plans to continue using to increase their net worth to at least $5 million by retirement.When John asked the man for his best advice…

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Markets News 

Singapore beats Tokyo and Sydney to take top spot in APAC investment market: ULI and PwC

“Here are the 22 cities ranked, according to investment prospects and development prospects for 2020” writes Lamont Mark Smith for businessinsider.sg. Singapore now has the best investment prospects in the Asia Pacific region, according to a real estate forecast published jointly by the Urban Land Institute (ULI) and PwC on Tuesday (Nov 12).Based on the opinions of 460 real estate professionals, the “Emerging Trends” report said that Singapore trumped consistent high-prospect cities like Tokyo (#2), Sydney (#4) and Melbourne (#5).Looking to spend big on real estate?. The Republic was also ranked…

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News 

Proptech is getting a ton of attention, but its exact definition is hard to pin down. Co-founders of a big VC in the space spent 18 pages of their book trying to explain it.

“While proptech is probably the buzziest word for the industry, other terms like real estate tech, RE tech, CRE tech, and built world tech are also in use” writes Alex Nicoll for businessinsider.com. And MetaProp’s own taxonomy relies on four variables: technology, asset type, geography, and its place on the real estate value chain.”There are now nearly as many taxonomies for real estate technology as there are analysts tracking the space,”  they wrote.They delve into one taxonomy by Andrew Baum, a professor who studies real estate technology.The idea is to…

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Crypto News 

Real Estate Magnate Sells New York Condo for $15.3M in Bitcoin

“The news was reported by New York real estate magazine The Real Deal on Nov. 1” writes Marie Huillet for cointelegraph.com. Real estate tycoon Ben Shaoul has sold a retail condo in Manhattan’s prestigious Upper East Side for $15.3 million in Bitcoin (BTC). Blockchain, the technology underpinning Bitcoin, is also increasingly being implemented to cement ownership rights for real estate and business in order to mitigate fraud in land registries.Shaoul — who is president of the Magnum Real Estate Group — sold the 11,400-square-foot property to a Taiwan-based entity “Affluent…

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News 

Get your estate plan in order

“Even though these whopping big exemptions probably mean that you are not currently exposed to the federal estate tax, your estate plan may still need updating to reflect the current tax rules” writes Bill Bischoff for marketwatch.com. When you die, the assets in the living trust are included in your estate for federal estate tax purposes.So, you may be exposed to the federal estate tax in the near future, even though you’re covered right now. If you pass away, your current estate plan with all its flaws, or your completely…

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News 

An L.A. councilman swore off developer money. Rivals argue he’s broken that promise

“When he first ran for office, questions about the political sway of real estate developers loomed large as residents at local forums railed against out-of-scale development” writes Staff Writer for latimes.com. When David Ryu first ran for Los Angeles City Council, he swore off campaign money from real estate developers with L.A. projects, a move that became a selling point for him as a City Hall outsider. Collins also said she supported clamping down on developer donations. “We should do everything possible to get money out of politics,” Collins said. Source:…

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News 

Huge problem facing Warren wealth tax: Evaluating billionaires

“Warren also plans to raise an additional $1 trillion for her new “Medicare for all” plan by doubling her wealth tax on the ultrarich” reports washingtonexaminer.com. To be clear, calculating the net worth of the ultrarich for the purposes of the wealth tax is inherently complicated.Larry Summers, former president of Harvard University and economic adviser to President Barack Obama, has called Warren’s estimate of wealth tax revenues “naively high.” Sanders’ wealth tax plan would raise $4.35 trillion over 10 years, economic advisers to the campaign estimate, while Warren’s plan would…

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News 

A Manhattan real estate tycoon predicted WeWork would run into problems

“The boss of a billion-dollar real estate group predicted WeWork would run into problems” writes Finanzen Net Gmbh for businessinsider.com. “We studied WeWork and we’re not comfortable with their business model and credit,” he said on the call.”While we choose not to transact with WeWork, there are other co-working providers that are much more thoughtful about their business model,” Behler said.However, he recognized the value of coworking spaces, arguing they can “serve a critical function” as part of a “properly structured real estate business model” rather than a “hyper-growth tech…

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News 

Emil Alon sold his last startup to Facebook for $60 million. Now he’s back with an augmented reality startup that turns buildings into digital “platforms”

“If a shopper wants to find a specific store in a mall, they would find its location in the Vera app” writes Alex Nicoll for businessinsider.com. Resonai, an AI and augmented reality company, is betting on finding customers in commercial real estate.Then, a device using the Vera app will be able to “see” where you are in space without the use of GPS or other sorts of beacons.Augmented reality experiments, like Google Glass, have had their stops and starts, with Google now focusing its efforts on enterprise applications for Glass. Source:…

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