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<keyword id="24068881" type="General" weightage="100" keywordseo="Equity-investments-in-Indian-real-estate" source="keywords">Equity investments in Indian real estate</keyword> may rise 49% to $11 billion this calendar year amid strong demand for properties, according to CII and CBRE. In the 2023 calendar year, the equity investments in real estate stood at $7.4 billion. Industry body CII and real estate consultant CBRE on Wednesday released a joint report titled 'Leading the Charge: Crafting the Skylines of Tomorrow' at the annual CII Realty 2024 conclave. Equity capital inflows touched $8.9 billion between January and September, registering a 46% year-on-year growth. "Overall equity investments in 2024 in the real estate sector are set to hit a new record surpassing $10 billion for the first time," the report said. With a resurgence in investment inflows in built-up office assets and a strong acquisition pipeline for land in the residential sector, the overall equity investments in 2024 would be in the $10-11 billion range. During January-September, institutional and collective vehicle investors accounted for nearly 40% of the overall investments. Developer companies led the total capital inflows with more than 41% share in this period. Domestic investors (predominantly developers) invested nearly USD 6 billion during the first nine months of the calendar year, dominating the overall capital inflows with an almost 65% share. In comparison, foreign investors contributed about $3.1 billion during the same timeframe. Notably, North American and Singaporean investors were the significant contributors, representing about 85% of all foreign capital inflows. Anshuman Magazine, Chairman &amp; CEO, India, South-East Asia, Middle East &amp; Africa, CBRE, said, "Projection for 2024 equity investments between $10-11 billion, highest-ever, underscores continued investor interest in the growing <keyword id="23870227" type="General" weightage="20" keywordseo="real-estate-market-in-India" source="keywords">real estate market in India</keyword>." With SEBI's SM-REIT framework, he said, smaller but high-quality assets in Tier-II markets would also present new avenues for strategic capital deployment. "We believe this regulatory support will add much-needed transparency, enabling a more diversified investment base and encouraging institutional participation across these markets," Magazine said. Going ahead, he said this growing diversification will not only solidify India's real estate sector but also pave the way for future growth across emerging asset classes.

Equity investments in Indian real estate may rise 49% to record $11 billion this year, says CII-CBRE report

In Maharashtra’s Thane district, police have registered a case of alleged fraud involving two construction company owners accused of deceiving a family of ₹1.2 crore. The incident came to light after a 28-year-old woman from Thane’s Rabodi area lodged a complaint against the two accused, who are brothers. The accused allegedly persuaded the woman, her mother, and her sister to invest the substantial sum in their construction company based in Mumbai’s Bandra area. Promises were made of a significant payout within five years or, alternatively, the option of acquiring two or three apartments in the city’s prime real estate zone. According to the complaint, the woman’s family entered the deal on December 31, 2022, convinced by assurances of either a return of ₹3 crore over five years or property options in Bandra. To meet the required investment amount, the family borrowed funds from various sources, entrusting their money with the accused based on the lucrative promises. The police official handling the case noted that the family, enticed by the seemingly profitable terms, had not foreseen the outcome that would follow. In May 2023, however, when the family attempted to reclaim their funds and the anticipated profit, the accused allegedly declined the request. The complainant stated that the brothers not only refused to pay but also reportedly threatened the family, citing powerful connections that would shield them from legal repercussions. This behaviour alarmed the family, leading them to seek legal recourse. The Rabodi police have filed a case against the accused under various sections of the Indian Penal Code, including Section 420 for cheating, Section 406 for criminal breach of trust, and Section 506 for criminal intimidation. Additionally, charges were filed under Section 34, indicating common intention, along with relevant provisions of the Maharashtra Protection of Interest of Depositors Act. The case highlights the dangers that investors may face when lured by high-return promises in unregulated sectors. Fraudulent schemes in real estate and construction have been known to target individuals and families looking for profitable investments, often leaving them with financial losses and emotional distress. Authorities are continuing investigations, with the Rabodi police closely monitoring the case to gather further evidence. This incident is expected to bring more attention to regulatory practices within the real estate industry and underscore the need for stricter oversight to protect potential investors from falling prey to deceitful operators. (with PTI inputs)

Thane family loses Rs 1.2 crore as they get cheated by construction company, details here

<keyword id="19895142" type="General" weightage="100" keywordseo="Shah-Rukh-Khan" source="keywords">Shah Rukh Khan</keyword>, widely known as the "King of <keyword id="19897820" type="General" weightage="20" keywordseo="Bollywood" source="keywords">Bollywood</keyword>," has officially joined the ranks of India’s wealthiest, debuting on the 2024 <keyword id="21075617" type="General" weightage="20" keywordseo="Hurun-India-Rich-List" source="keywords">Hurun India Rich List</keyword> with an impressive wealth of Rs 7,300 crores. But how did a Delhi boy with dreams of making it big in Mumbai become one of India’s richest individuals? Let’s dive into the ventures that propelled King Khan into the billionaires' club. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;"><keyword id="20033371" type="General" weightage="20" keywordseo="Red-Chillies-Entertainment" source="keywords" meta.keywordsubtype="org" meta.entityname="Red Chillies Entertainment" meta.hostid="261" meta.entityid="Red Chillies Entertainment">Red Chillies Entertainment</keyword></h3>Shah Rukh Khan’s production company, Red Chillies Entertainment, has been a significant contributor to his wealth. Founded in 2002, Red Chillies has become a key player in Bollywood, producing blockbuster films and investing in high-quality visual effects. From chart-topping films like Chennai Express and Raees to the massive success of Pathaan in 2023, Red Chillies has consistently delivered box office hits. <div type="Article" hostid="261" msid="112412196" title="&amp;#39;Deadpool &amp;amp; Wolverine&amp;#39; screenwriters reveal secrets and spoilers, including the movie&amp;#39;s original villain and who wrote that Hugh Jackman divorce joke" mstype="2" mssubtype="0"></div>With an estimated revenue consistently in the hundreds of crores and a profit of Rs 85 crores last year, the company has not only cemented SRK’s position as a top actor but also as a successful producer. Furthermore, the company’s VFX division, Red Chillies VFX, has set new benchmarks in the <keyword id="20161413" type="General" weightage="20" keywordseo="Indian-film-industry" source="keywords">Indian film industry</keyword>, working on major projects that have earned critical and commercial acclaim, such as Ra.One, Fan, and Laal Singh Chaddha. These ventures have significantly bolstered SRK’s wealth, making Red Chillies Entertainment a cornerstone of his business empire. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;"><keyword id="19899758" type="General" weightage="20" keywordseo="Kolkata-Knight-Riders" source="keywords" meta.keywordsubtype="org" meta.entityname="Kolkata Knight Riders" meta.hostid="261" meta.entityid="Kolkata Knight Riders">Kolkata Knight Riders</keyword></h3>Shah Rukh Khan’s entry into the sports business with the IPL franchise Kolkata Knight Riders (KKR) has been a masterstroke. Co-owned by SRK, Juhi Chawla, and Jay Mehta, KKR has become one of the most successful and profitable franchises not just in the Indian Premier League, but also in the sporting world. The team’s consistent performance on the field has been matched by its financial success off it, with KKR’s brand value rising steadily over the years. As per Forbes, the cricket team was valued at over $1 billion in 2022. This surge in valuation played a crucial role in boosting SRK’s wealth, contributing significantly to his fortune. The success of KKR, coupled with its passionate fan base and strong marketing, has made it a jewel in SRK’s business portfolio, further solidifying his status as a businessman. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">Brand SRK: The most followed Indian on social media</h3>More than just a business mogul, Shah Rukh Khan is also a brand unto himself. With 44.1 million followers on Twitter, SRK is the most followed individual from the 2024 Hurun India Rich List on Indian social media. His massive <keyword id="20462299" type="General" weightage="20" keywordseo="social-media-presence" source="keywords">social media presence</keyword> has translated into lucrative endorsement deals and collaborations with global brands. <div type="Article" hostid="261" msid="112249289" title="One of Singapore&amp;#39;s flashiest CEOs was planning to throw a Tomorrowland-style party for the books. Then the mirage started to fall apart." mstype="2" mssubtype="0"></div>Consistently being one of the most visible endorsers, SRK earns substantially from <keyword id="20004407" type="General" weightage="20" keywordseo="brand-endorsements" source="keywords">brand endorsements</keyword>, with an estimated fee of Rs 4-5 crores per endorsement. His portfolio includes major brands like Hyundai, Dubai Tourism, and BYJU'S, further adding to his immense wealth. His ability to leverage his celebrity status into profitable business ventures has undoubtedly been a key factor in his <keyword id="21015152" type="General" weightage="20" keywordseo="wealth-accumulation" source="keywords">wealth accumulation</keyword>. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">Real estate</h3>Real estate has always been a key component of wealth building, and Shah Rukh Khan is no exception. Shah Rukh Khan’s <keyword id="22962036" type="General" weightage="20" keywordseo="real-estate-ventures" source="keywords">real estate ventures</keyword> extend far beyond his iconic Mumbai residence, Mannat. One of his lesser-known yet highly lucrative ventures is in Dubai, where he and his wife Gauri Khan launched a luxurious beachfront residential project, the "SRK Boulevard," located in the posh Dana Islands. This mega project, worth over Rs 18,000 crore, features 10 residential buildings with high-end facilities, including marine sports and leisure amenities. Designed by Los Angeles architect Tony Ashai, with interiors by Gauri Khan, this project highlights SRK’s foray into international real estate <h3>And of course, films</h3>Shah Rukh Khan’s earnings from films and endorsements are a significant part of his wealth. Known as one of the highest-paid actors in India, SRK reportedly charges over Rs 100 crores per film. This is certainly no small amount, but it is unlikely that filmmakers will find fault with it, considering how his films regularly break box office records. As per IMdB, both 2023 films Jawan and Pathaan grossed over Rs 1000 crores worldwide. All in all, King Khan’s entry into the Hurun India Rich List is significant not just for him, but for the entire entertainment industry. SRK’s success reflects the growing financial clout of Indian film stars and the increasing importance of entertainment in wealth creation. In 2024 alone, Hurun India Rich Listers from the entertainment industry added Rs 40,500 crores to their wealth, with SRK leading the charge. This trend highlights the expanding influence of Bollywood and the entertainment sector in India’s broader economic landscape.

Baadshah of Bollywood Shah Rukh Khan debuts on India's richest list with Rs 7,300 cr — here's how the King made his wealth

<ul class="summary-list"><li><keyword id="23150740" type="General" weightage="20" keywordseo="Daniel-Daggers" source="keywords">Daniel Daggers</keyword>, star of the Netflix show "<keyword id="23150739" type="General" weightage="100" keywordseo="buying-london" source="Orion">Buying London</keyword>," sells some of the UK's most expensive homes.</li><li>He spoke to BI about what selling multimillion-dollar properties to the supersuccessful is like.</li></ul>This as-told-to essay is based on a transcribed conversation with Daniel Daggers, a luxury real-estate agent and star of the Netflix show <a href="https://www.businessinsider.com/netflix-buying-london-luxury-real-estate-market-super-prime-property-2024-5" target="_blank">"Buying London."</a> It has been edited for length and clarity. I came from humble beginnings. When I was a kid, I would never have believed it if someone had told me, "You're going to be representing the most successful people on the planet and bouncing around the world, seeing incredible homes." When I was 17, a short internship with a local real-estate agent led to a full time job. I spent 10 years carrying the keys, driving around, and learning the industry. Then, I moved into a big firm where I started dealing with the <keyword id="23150738" type="General" weightage="20" keywordseo="super-prime-market" source="keywords">super-prime market</keyword> — properties valued in excess of $12.8 million. Now, I run my own agency. <h2>There's nuance in what makes a property super-prime</h2>People misinterpret shiny as luxury. It's not about that. Maybe it's an incredible location, the specification of finishes is out of this world, or the live style, meaning how you live in a property, is groundbreaking. There's all this nuance and when you get a number of those assets right, that's what makes a super-prime property. To be an agent at this level, you need to use different language with your client — be more articulate, provide more detailed information, and have a different attitude to work. A knowledge of <a target="_blank" class="" href="https://www.businessinsider.com/rich-real-estate-estate-gift-tax-avoidance-wealth-planning-inheritance-2024-4">taxation</a>, structure, interior design, art, and the legal system becomes more important because you're in more of an advisory role. <h2>This job gives me a wider understanding of what's shaping our world</h2>These people are often very time-poor. There is no finishing work at 6 p.m. You have to be available by phone for help or advice at any moment in the day. But working at the top end of the market is very enjoyable. I am blessed with access to some of the best minds on the planet. We talk about anything, not just real estate. It could be children, society, art, the legal system, friends, technology, how the industry's changing — the much more macro, big-picture things. It gives you a wider understanding of what's shaping our world and how business takes place. <div type="image" title="Daniel Daggers stands against a white background in a white shirt and suit trousers smiling with his hands in his pockets." height="1280" width="855" msid="112782190" hostid="261"></div><h2>Buyers are getting younger</h2>I noticed about a decade ago that buyers were becoming much younger. Internet 2.0 enabled anyone to build businesses online, which meant the entry barrier to being <a target="_blank" class="" href="https://www.businessinsider.com/meet-the-15-youngest-billionaires-in-america-forbes-2021-10#1-sam-bankman-fried-crypto-entrepreneur-15">a successful entrepreneur</a> dropped drastically when it came to age and increased when it came to talent. I tend to attract a lot of entrepreneurs. They come into the market after five or 10 years of hard work. You can almost watch the pattern play out with how they want to live compared to people who've grown up with wealth. They are contemporary and mobile, have a different perspective on life, and an appetite for a different kind of real estate. The traditionalists will stay in the "<a target="_blank" class="" href="https://www.businessinsider.com/london-eaton-square-where-russian-billionaires-live-red-square-2022-3">golden postcodes</a>." Contemporary money is indifferent; they don't necessarily want that period house in Belgravia or Mayfair. They're happy to have more properties but smaller ones worldwide. There's also a massive thunderstorm of change in our industry regarding how people are made aware of real estate. We've sold properties over social media for over a decade, and now all the top agents around the world know one another and can refer business across this network. I sold a $51 million property through my close friend's network on Instagram. I was one of the first people ever to sell a property over <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-says-twitter-could-be-western-wechat-china-superapp-2022-6">WeChat</a>, a Chinese app I used to communicate with the buyers, a 25-year-old billionaire who didn't speak very good English. <h2>I call myself 'Mr. Super Prime.' Building a brand in this industry is essential.</h2>It's essential to build your <keyword id="20587722" type="General" weightage="20" keywordseo="personal-brand" source="keywords">personal brand</keyword> if you want to be successful in this industry. When I worked in the firm, I started traveling to the US and saw how entrepreneurial they are. Every day is their best opportunity. I realized that being that person, sharing information and access was valuable. So, I started curating content, documenting my days, and building my brand online. I called myself "Mr. Super Prime," and the nickname stuck. My colleagues thought it was an ego play. I got a lot of pushback even though I was telling them all to do the same. But I was generating £400 million worth of leads a month. Now, I've scaled things up a level with <a href="https://www.businessinsider.com/netflix-buying-london-luxury-real-estate-market-super-prime-property-2024-5" target="_blank">my Netflix show,</a> "Buying London." This city is a hidden gem, and my agency, DDRE Global, has access to some of the most desirable homes here. People are interested in very expensive and special properties. We are all voyeurs occasionally, and there's an element of aspiration to the show. <div type="image" title="Daniel Daggers and the cast of Selling London at the premiere of the show, standing by a board with the DDRE Global branding." height="3500" width="5250" msid="112782192" hostid="261"><payload><![CDATA[Daniel Daggers and the cast of "Buying London" at its premiere]]></payload></div>Most real-estate agents are outgoing people, and if you put cameras inside anyone's house for a year and squeeze it into three hours, there will always be some drama — the show also has a fair amount of it among my employees. But competition is a healthy ingredient for people who want to be successful. Without it, you can become lazy and weak. You just need to remember that anyone you do business with today may be needed in the future. Correction: August 30, 2024 — An earlier version of this story incorrectly named the Netflix show. It is titled "Buying London," not "Selling London."

I sell multi-million dollar homes to London's super-successful. The internet has meant buyers have become much younger.

<ul class="summary-list"><li>Nominations are now open for Business Insider's fifth annual list of Rising Stars of Real Estate.</li><li>We're seeking talented up-and-comers from any corner of the real-estate industry having an impact.</li></ul>Nominations are now open for Business Insider's fifth annual list of rising stars in real estate.If you know an up-and-comer aged 35 or younger in commercial or residential real estate, we'd love to hear about them.We're looking for trailblazers who are making a meaningful impact in any corner of the industry. The nominations are open to real-estate professionals and individuals from other industries who work closely with real estate.BI reporters and editors will weigh how and why nominees stand out in the context of current themes and issues facing the real-estate industry in 2024 in particular.Please submit your suggestions below, or through this <a target="_blank" class="" href="https://docs.google.com/forms/d/e/1FAIpQLSe5d_3gAp5Gm3fK1kiQ7rSF5hc13vPceJiHq3k6MRFeP8YxgQ/viewform">form</a> by Friday, October 25, 2024.Check out <a target="_blank" class="" href="https://www.businessinsider.com/rising-stars-of-real-estate-residential-commercial-short-term-rentals-2023-12">last year's list</a>, along with those from <a target="_blank" class="" href="https://www.businessinsider.com/rising-stars-of-real-estate-residential-commercial-proptech-industrial-leaders-2022-11">2022</a> and <a target="_blank" class="" href="https://www.businessinsider.com/rising-stars-real-estate-commercial-residential-proptech-industry-leaders-2021-12">2021</a>, for inspiration.<h2 id="dc9365de-1901-4607-8362-9ce3cb823e4c">Criteria and methodology</h2>Our selection criteria: We ask that nominees be 35 or under as of October 25, 2024, be based in the US, and stand out from their peers.We are seeking the best and the brightest working in real estate in roles including, but not limited to, academics, agents, architects, brokers, builders, designers, developers, founders, investors, nonprofit staffers, policymakers, property managers, and urban planners.Final decisions will be made by BI's editorial team.Again, to have your pick considered for the list, submit your nomination using <a target="_blank" class="" href="https://docs.google.com/forms/d/e/1FAIpQLSe5d_3gAp5Gm3fK1kiQ7rSF5hc13vPceJiHq3k6MRFeP8YxgQ/viewform">this form</a> by October 25, 2024.If you have any questions or issues with submitting nominations, please email Alcynna Lloyd at <a target="_blank" href="mailto:alloyd@insider.com">alloyd@insider.com</a>.

Nominations for Business Insider's Rising Stars of Real Estate 2024 list are open

<ul class="summary-list"><li>More than $1 trillion worth of property lies in Hurricane Milton's path, Moody's estimated.</li><li>More than 235,000 commercial properties could be exposed to dangerous winds, per Mood's. </li></ul>Hurricane Milton <a target="_blank" class="" href="https://www.businessinsider.com/hurricane-milton-landfall-florida-housing-market-insurance-fema-2024-10">made landfall</a> in Florida on Wednesday as a Category 3 hurricane, and analysts estimate that $1.1 trillion worth of commercial property is set to be exposed to dangerous hurricane winds.According to an <a target="_blank" class="" href="https://www.moodys.com/web/en/us/about/insights/data-stories/hurricane-milton-tracker.html">estimate by Moody's Analytics</a> on Tuesday, more than 235,000 commercial real estate properties in Florida — worth $1.1 trillion —have a greater than 50% chance of being exposed to wind speeds of at least 50 miles per hour.This is the speed at which some property damage is likely, the Moody's report said.According to the report, the properties include 44,122 industrial spaces, 78,916 retail properties, 42,387 office buildings, 64,857 apartment buildings, and 5,056 hotels.According to an analysis note by Jefferies, Milton's estimated financial damage in Florida could reach $175 billion."While too early to make insured loss estimates, a major hurricane impact in one of Florida's most heavily populated regions could result in mid-double-digit billion dollar loss," Jefferies equity analysts said in a note."A 1-in-100 year event is estimated by some to result in $175bn in losses for landfall in the Tampa region, and $70bn in losses in the Ft Myers region," the note added.The monster storm <a target="_blank" href="https://www.businessinsider.com/hurricane-milton-timeline-see-storm-evolution-from-space-satellite-imagery-2024-10">morphed rapidly into a Category 5 hurricane</a> over two days. But it was downgraded to Category 3 when it made landfall in Florida's Sarasota County on Wednesday.The National Hurricane Center has warned that the storm could trigger flooding and storm surges as high as 15 feet along the coast.Milton comes just days after Hurricane Helene ravaged Florida and other southeastern states, leaving more than <a target="_blank" class="" href="https://apnews.com/article/hurricane-helene-death-toll-asheville-north-carolina-34d1226bb31f79dfb2ff6827e40587fc">200 people dead</a>.In a report on September 30, Moody's Analytics projected the damage from Helene to be between <a target="_blank" class="" href="https://www.businessinsider.com/analysts-estimate-up-to-34-billion-damage-from-hurricane-helene-2024-10">$20 billion and $34 billion.</a>

Hurricane Milton is headed right into $1.1 trillion worth of commercial real estate properties: Moody's

<ul class="summary-list"><li>The crypto industry has spent tens of millions on pro-crypto candidates this election cycle.</li><li>Donald Trump and Kamala Harris have both made crypto a part of their campaign.</li></ul>With the US presidential election just two weeks away, the world is about to find out just how influential the <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/category/cryptocurrency">cryptocurrency</a> industry really is.Crypto companies, executives, and super PACs have spent huge sums this election cycle, outspending even perennial big spenders like the <a target="_blank" class="" href="https://www.businessinsider.com/koch-brothers-fortune-power-conservative-crusade-american-politics-2019-8">Koch family</a>, according to Federal Election Commission filings.The crypto industry has <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/crypto-bitcoin-election-spending-kamala-harris-donald-trump-2024-8">outspent every other industry</a>, injecting almost $120 million into federal races as of August, according to OpenSecrets, a nonprofit that tracks campaign spending. Fairshake, the leading pro-crypto super PAC, raised over $204 million for the 2024 election cycle.While Faireshake has donated in favor of candidates on both sides of the aisle, it only spent against Democrats. According to OpenSecrets, Fairshake spent over $13 million in total against three Democrats — Sen. Katie Porter, Rep. Jamaal Bowman, and Rep. Cori Bush — who each lost their primaries.Perhaps nowhere has the industry's spending been more acute than in Ohio, where the once-favored Democratic Sen. Sherrod Brown is now in a tight race against Republican Bernie Moreno, a blockchain entrepreneur. Crypto supporters have zeroed in on the race, spending tens of millions to support Moreno.Former President Donald Trump and Vice President Kamala Harris have both made overtures to the crypto community during their campaigns, but just how far the industry's influence can stretch won't be clear until after Election Day.Industry leaders told Business Insider that many in the crypto world hope a crypto-friendly Congress or president can influence how the government regulates digital currencies or, at the very least, encourage the Securities and Exchange Commission to provide clear rules on how it wants crypto companies to protect consumers.JP Richardson, the CEO at Exodus Crypto Wallet, told BI that he donated the maximum contribution that he could — $844,000 — to Trump's campaign.Trump, who once <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/trump-called-crypto-scam-now-owns-million-ethereum-disclosure-bitcoin-2024-8">called crypto a scam</a>, has more recently fueled hope that he'd be <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-soars-crypto-president-donald-trumps-election-betting-odds-2024-10">good for crypto entrepreneurs</a>. On the campaign trail, he has promised to make America<a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/donald-trump-going-for-crypto-bro-vote-world-liberty-financial-2024-9"> "the crypto capital of the planet."</a>The rhetoric is paying off for him. A pro-Trump political action committee has raised at least<a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/trump-pac-raised-millions-crypto-donations-since-june-2024-10"> $7.5 million in crypto donations</a> since June, and as Trump's<a target="_blank" class="editor-rtfLink" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-soars-crypto-president-donald-trumps-election-betting-odds-2024-10"> betting market odds climb</a> ahead of the election, there's been a corresponding surge in bitcoin's value.Trump <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/trump-bitcoin-stance-2024-7">visited the Bitcoin 2024</a> crypto conference in Nashville in July, where he pledged to fire SEC Commissioner Gary Gensler and keep all of the federal government's bitcoin in a "strategic national bitcoin stockpile" if elected.The audience gave Trump a standing ovation at the mention of firing Gensler, Richardson said, "because the industry wants that clear regulatory guidance from the SEC.""I personally have supported Trump, and I would have been happy to extend that same support to Harris if she had come out with a bold stance in supporting the industry in the same way that Trump did, but she has not done that," Richardson said.Harris has been <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/kamala-harris-tech-issues-ai-big-tech-crypto-silicon-valley-2024-7">less vocal</a> about her position on crypto, but she has started to show <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/kamala-harris-donald-trump-crypto-bitcoin-donors-young-men-2024-9">quiet support</a> for the industry on the campaign trail in recent months. In September, she addressed crypto at a Wall Street fundraiser, where she said her administration would "encourage innovative technologies like AI and digital assets while protecting our consumers and investors."Barry DiRaimondo, cofounder and CEO of <a target="_blank" class="editor-rtfLink" href="https://therealdeal.com/sanfrancisco/2024/05/28/steelwave-debuts-500m-real-estate-fund-with-digital-tokens/">real estate crypto fund</a> SteelWave Digital, said he thinks a Trump victory is still the best outcome for crypto because he "is advocating for getting crypto regulated so it can become a mainstream financial product.""If you're long in bitcoin and Trump wins, you're going to be a happy camper," DiRaimondo said.Still, he said he didn't donate to any political groups because "if we're playing in the political landscape, we're playing both sides of the fence.""Politically, as a company, we're very neutral," he said.Richardson said Exodus also donated $1.3 million to Stand With Crypto, an advocacy organization that focuses on voter registration and informing people about political candidates who support crypto."We see the importance of getting pro-crypto candidates elected, and this, by the way, should be very bipartisan," Richardson said. "So Stand With Crypto will educate people on these candidates.""We want to help with that education, and so the $1.3 million is targeted to helping in these swing states," Richardson added.For Richardson, the "turning point" in his decision to get involved in politics came on May 9 when his company planned to uplist on the New York Stock Exchange. Before the opening bell, the SEC postponed the listing to review the company's registration statement, the company said."Before this moment, I didn't really care about politics, and now I feel like I was forced and backed into a corner to really care about politics more than I ever have," Richardson said.

The crypto industry has spent millions this election. Here's what it hopes to get in return.

<ul class="summary-list"><li>Kerri Gibson quit her tech job in 2017 and started her real estate investment journey.</li><li>Alongside her partner Philippe, she now has six short-term rental properties.</li></ul>This as-told-to essay is based on a transcribed conversation with Kerri Gibson, 48, based in Orford, Quebec, about her short-term rental business, Chalets Hygge. The following has been edited for length and clarity.I'm a <a target="_blank" class="" href="https://www.businessinsider.com/accountant-shortage-sexy-taxes-business-school-pwc-kpmg-2024-8">CPA</a> by training and spent roughly two decades working primarily in tax and accounting technology.It was a high-paced, high-stress career, and in 2017, when I was on the brink of <a target="_blank" class="" href="https://www.businessinsider.com/burnout-work-boss-left-office-on-stretcher-2024-4">burnout</a>, I decided to resign.During my time off, my partner and I decided to buy a house in our neighborhood and flip it. We'd previously renovated our home and really enjoyed it, and we talked about doing it again.While renovating it, we found we had a knack for architecture and design. A friend advised me to keep the house because it was in an area zoned for <a target="_blank" class="" href="https://www.businessinsider.com/quit-job-real-estate-investing-house-hacking-heloc-2024-7">short-term rentals</a>.We started <a target="_blank" class="" href="https://www.businessinsider.com/renting-airbnb-not-passive-wont-do-it-again-2024-7">renting out the house on Airbnb</a>. We became passionate about buying and renovating properties and turned this investment into a full-time venture for both of us.As owners and operators of our short-term rental business, we put a lot of work into creating a good experience for our guests. Some people consider <a target="_blank" class="" href="https://www.businessinsider.com/beginner-friendly-real-estate-investing-strategy-buy-condos-rookie-investors-2024-9">getting into real estate</a> as a source of passive income, but I wouldn't say it's passive at all.<h2 id="1228fda7-fac2-493d-8d2b-254b9024e6a4">I transitioned into full-time real estate first. My partner joined me years later.</h2>We closed on our first <a target="_blank" class="" href="https://www.businessinsider.com/how-to-profit-from-short-term-rentals-during-airbnb-downturns-2024-7">short-term rental property</a> in December 2017. The price was 129,000 Canadian dollars. We used savings to make a 20% downpayment and secured the rest with a mortgage.We paid for renovations, which took 11 months, out of pocket, too. It was really torn up, so cost us around CA75,000. This included a contractor who taught me a lot about things like laying tile and grouting. My partner, Philippe, also helped on evenings and weekends when he wasn't working.I was so <a target="_blank" class="" href="https://www.businessinsider.com/quit-amazon-manager-burned-out-from-employees-2024-10">burned out</a> from my old job. I found working with my hands on the house very fulfilling.In June 2018, we bought a second house for <a target="_blank" class="" href="https://www.businessinsider.com/buy-short-term-rental-property-investing-strategy-markets-good-investment-2023-12">short-term rental opportunities</a> while renovating the first one. I was nervous, but Philippe convinced me, saying the price was good and it was low-risk because we could always resell it. It was in much better shape than the first one, so it was ready for renting in two months.It cost around CA188,000. We used savings to make a 20% down payment and mortgaged the rest. We did the renovations ourselves and paid for the furniture out of pocket.Philippe and I decided I'd pursue the <a target="_blank" class="" href="https://www.businessinsider.com/daniel-daggers-selling-london-super-prime-real-estate-netflix-2024-8">real estate</a> full-time, and we'd live off his income until he joined me.<div type="image" title="Gibson with her partner, Philippe." height="1126" width="772" msid="114251054" hostid="261" sizebytes="60124"></div>Philippe took a job in Vancouver, so we moved away in May 2018. We also turned the property we were living in into a short-term rental. By March 2019, we had three rental properties generating income, but we were investing all the money coming back into renovations.That March, we bought a third property for CA129,500 with a 20% downpayment and mortgage. It took nine months to renovate, and I worked with a contractor because it needed a lot of work.We moved back to Quebec in August 2019 and bought another condo in Montreal. We funded the downpayment through an equity release in the form of a mortgage on our personal home turned short-term rental.In October 2019, we bought another house. It was CA220,000 with a 20% downpayment, which we financed using income from the other rental properties and personal savings.Then, in July 2020, we purchased a neighboring property. However, because our bank had a limit on the number of short-term rental properties you could take out personal loans for, we <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/personal-loans/how-to-borrow-money">borrowed money</a> from family to pay the full price of CA277,000 for it.We paid them back after selling our condo in Montreal and still have mortgages on five out of six short-term rentals. We now live in another house we bought and renovated in Orford.<h2 id="7622e5ee-c1f1-429d-854b-e89e5af4b219">We've been trying to rely less on third-party booking platforms like Airbnb</h2>We lived on Philippe's salary until 2020. For the first couple of years renting out properties, we ran at a loss due to the cost of getting started and reinvesting money back into buying properties. Upfront expenses of investment properties are significant. But the time it takes to be cash flowing is shrinking now we have formula that helps us execute faster.I was able to build income and wealth for our future, while Philippe's salary more than covered our daily expenses. He left his job in the legal software space in February 2020, and his severance package covered our living expenses for a while.When the COVID-19 pandemic hit, it disrupted our business, and we had to flip all our properties into monthly rentals to comply with government regulations. After COVID, the market exploded because everyone wanted to get away.Guests loved us and were referring their friends, and we were featured in some <a target="_blank" href="https://www.tvanouvelles.ca/2020/08/19/reservez-deja-votre-chalet-pour-noel">media</a> <a target="_blank" href="https://www.ledevoir.com/plaisirs/voyage/584434/quoi-faire-au-quebec-chalets-branches-routes-et-cartes-postales-a-explorer">outlets</a>.At that point, I realized that if we could keep occupancy up, we could live off of our six properties.I focused on our direct booking strategy. Third-party online travel agencies like Airbnb and Expedia hold too many cards — they decide whether you're on page one or page 25 of their website and how to handle complaints. I worked hard to build our social media presence and website. I pay for a property management software called Lodgify, which allows me to see every reservation across the different OTAs and our website and what days are open on our calendar.In 2019, I'd say all of our bookings were coming from OTAs like Airbnb, but in 2023, my calculations suggest that out of the CA340,000 we made in revenue, roughly 70% came from direct bookings.<h2 id="f9c05698-69b4-496a-8745-68df540a817e">Having a hospitality business is a full-time job, not a 'passive' income stream.</h2><a target="_blank" class="" href="https://www.businessinsider.com/housing-market-ice-age-homebuyers-mortgage-rates-spring-real-estate-2024-10">Real estate</a> has historically been thought of as <a target="_blank" class="" href="https://www.businessinsider.com/how-to-make-rental-property-truly-passive-investment-2024-8">passive income</a>, running short-term rentals is not passive.Providing the necessary level of hospitality is more of a full-time job. We're owner-operators who put a lot of work into the guest experience.We're available seven days a week. I work 50 hours a week doing marketing, bookkeeping, and maintenance. We also have an operations manager who handles day-to-day cleaning and inventory. Depending on the season, there'll also be two to three part-time cleaners.We love what we do and find it so fulfilling, so the good far outweighs the stress.The <a target="_blank" class="" href="https://www.businessinsider.com/how-hospitality-industry-capitalizing-solo-female-travelers-2022-12">hospitality industry</a> is flexible, and I do think there are ways people can do this in addition to another job, but I worry about the quality of service provided.You hear horror stories about people arriving at properties that aren't clean or where things are broken, and it has a negative impact on the industry.Side-hustling with short-term rentals needs to be done in a way that honors the industry.Even those who say they work four hours a day from a beach on their real estate business will have had to put a lot of work into their support and team structure to be successful.Do you have a real estate story you want to share with Business Insider? Email <a target="_blank" href="mailto:ccheong@businessinsider.com">ccheong@businessinsider.com</a>

I have 6 short-term rental properties. People think real estate is passive income, but I disagree.

If you step out into <keyword id="19895037" type="General" weightage="100" keywordseo="bengaluru" source="keywords">Bengaluru</keyword> traffic these days, there’s a good chance you’ll discover a bulky water tanker spearheading the all-too-familiar clog in traffic. Amidst the ongoing <keyword id="6355836" type="General" weightage="20" keywordseo="water-crisis" source="Orion">water crisis</keyword>, India’s Silicon City has mobilised thousands of tankers that zip, almost heroically, across the city, rescuing parched residences from the metro’s urban planning crisis. Bidding to reduce their reliance on the exorb<keyword id="6354185" type="General" weightage="20" keywordseo="it" source="Orion">it</keyword>ant tankers — a necessary step after the exhaustion of half the city’s groundwater-fed borewells — many residential societies have begun innovating water-saving techniques, with varying degrees of success. However, for the several businesses and industries littering the metropolitan town, it seems like dark days are looming. <cmsannotation type="cmsannotation" annotationid="IT in turmoil" comment="subhead" text="IT in turmoil">IT in turmoil</cmsannotation> Hosting over 1,400 tech companies that employ tens of lakhs of employees, Bengaluru has certainly earned its title as India’s ‘Silicon Valley’. Not only has this driven a rapid boom in economic, infrastructural and industrial development, the city has acted as a magnet for people looking for attractive employment opportunities. Unfortunately, this success has also resulted in <a href="https://bpac.in/bangalore-population-growth-consequences-and-possible-solutions/" data-type="tilCustomLink">population levels haphazardly spiking</a> from 2,900 people per square kilometre in 2001 to 4,300 within a single decade. Estimates suggest that this figure may have breached 8,000 by now! In addition to deterring water-cooler conversations, the lack of water in their workplaces have led to several companies already urging employees to work from home. Echoing a growing sentiment among the city’s techies, <a href="https://m.economictimes.com/news/india/it-companies-in-bengaluru-urged-to-give-15-lakh-employees-wfh-option-as-city-grapples-with-water-crisis/articleshow/108761390.cms" data-type="tilCustomLink">ex-Chief Justice K Sreedhar Rao also pleaded</a> for temporary remote arrangements for migrant IT workers to depopulate Bengaluru till the water crisis is dealt with. However, many such multinational employees have already begun to preemptively take matters into their own hands by temporarily or permanently moving to other cities, such as the nearby Mysuru. Needless to say, this has disrupted operations for many companies, including some of the top IT firms in Bengaluru. In a surprising turn of tragic events, senior personnel at <keyword id="19969515" type="General" weightage="20" keywordseo="dell" source="keywords">Dell</keyword> have begun skipping meetings to prioritise their procurement of water, reported the Deccan Herald. <cmsannotation type="cmsannotation" annotationid="Real estate rates to fall; restaurants forced to adapt" comment="subhead" text="Real estate rates to fall; restaurants forced to adapt"><keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">Real estate</keyword> rates to fall; restaurants forced to adapt</cmsannotation> With pleasant weather the year round, Bengaluru has proven itself time and again as an excellent place to settle down and relax. The city’s diverse population is a testament to its uncanny ability to draw people from all over India, even before the city’s notable IT boom. Real estate has now hit an all-time high, with high demand and attractive financial options helping the sector grow exponentially in the past few decades, reportedly recording a staggering nine-year-high 54,000 housing units sold in 2023. However, the city’s recent water woes have left potential property investors second-guessing. According to a recent Deccan Herald poll, around 60% of the respondents noted that they have postponed their move to Bengaluru due to the ongoing shortage, while a similar number of people have also begun evaluating investment options in other cities. Homebuyers have also begun to diligently inquire into <keyword id="55273" type="General" weightage="20" keywordseo="groundwater" source="Orion">groundwater</keyword> borewell depths and water-saving technologies when consulting developers. While <a href="https://www.deccanherald.com/business/bengaluru-water-crisis-alarms-property-investors-dh-poll-2930539" data-type="tilCustomLink">many contractors remain firm</a> that these reactions are not representative of a long-term trend, some experts have predicted that a fall in property prices may become inevitable. A <a href="https://www.republicworld.com/business/real-estate/bengaluru-water-crisis-property-prices-in-peenya-hsr-layout-marathahalli-to-fall-15-say-experts/" data-type="tilCustomLink">Republic report</a> explains that house rates could fall up to 10-15% in the most water-stressed regions of East and Central Bengaluru, including HSR Layout, Marathahalli, Rajaji Nagar and Peenya. Needless to say, the crisis has also taken a toll on Bengaluru’s various hotels and eateries, many of which are severely dependent on tanker water for cooking, cleaning and drinking purposes. Krishna Raj, owner of the popular <keyword id="21126683" type="General" weightage="20" keywordseo="nisarg-grand-hotel" source="keywords">Nisarg Grand Hotel</keyword>, <a href="https://www.livemint.com/news/india/bengaluru-water-crisis-news-hotels-disposable-utensils-shortage-lok-sabha-polls-karnataka-dk-shivakumar-congress-bjp-11710055127680.html" data-type="tilCustomLink">explained</a> that they might have to begin serving food in disposable utensils if the trend continues into the summer months. <cmsannotation type="cmsannotation" annotationid="Industrial district parched" comment="subhead" text="Industrial district parched">Industrial district parched</cmsannotation> Located in Northwest Bengaluru, Peenya is home to thousands of industries of varying sizes, producing a host of electronics, textiles, packaging, machines and other consumer items. However, being one of the largest industrial areas in Asia hasn’t protected its businesses from the ongoing crisis. In an <a href="https://www.business-standard.com/industry/news/bengaluru-water-crisis-to-impact-local-industries-in-coming-weeks-experts-124030601026_1.html" data-type="tilCustomLink">interview with Business Standard</a>, <keyword id="21126682" type="General" weightage="20" keywordseo="peenya-industries-association" source="keywords">Peenya Industries Association</keyword> President H. M. Arif explained that the area’s micro-industries are strained to the point that many could be forced to close soon if the water crisis continues unmitigated. Many such sectors have also become hopelessly reliant on tanker water, and the associated rising costs have begun to bottleneck the manufacturing process. Prices of several commercial products could go up soon if this trend continues. “Many from the hosiery or garment sector need water for processing,” Arif explains. “You need water for workers as well as other needs. The government is saying it will source recycled water for the industry. But for that, there is a tendering process and at this rate, we will not get water this season.” <cmsannotation type="cmsannotation" annotationid="Solutions and cautious optimism" comment="subhead" text="Solutions and cautious optimism">Solutions and cautious optimism</cmsannotation> This is not to say that the government isn’t taking measures to tackle the crisis. After ordaining centralised control over water tankers and actively regulating prices to ensure the city’s water isn’t hoarded solely by the rich, officials also placed bans on recreational water use. In addition, initiatives are underway to “inject” 1,300 million litres of purified water into the city’s drying lakes per day, which the officials allege will help restore local groundwater levels. <keyword id="19927086" type="General" weightage="20" keywordseo="bwssb" source="keywords">BWSSB</keyword> has also announced plans to build an array of next-gen water treatment plants near restored lake beds to purify and deliver water wherever required. Addressing the harsh summers ahead, Karnataka government officials have expressed optimism that the completion of the Cauvery Five — a massive array of treatment plants that will treat sewage to produce 100 million litres of water a day — will help make up for any deficits by July. Meanwhile, many large corporations, including Microsoft, have begun utilising water-saving tap aerators to control water flow in the Bagmane Business Park offices. The city’s water board, the BWSSB, has also launched four mobile apps to help tackle the city’s water crisis. Attempting to bridge a gap between the water department and the citizens it serves, these apps will help residents book water online, apply for borewell permissions, report water misuse and more. At 24% of its total capacity, reservoirs across Karnataka are also drying up. Despite growing shortages, the state government has assured that the Cauvery River reservoir that supplies water to Bengaluru holds sufficient water levels to last at least until June. After that, the pre-monsoon and monsoon rains are expected to replenish the water resources. However, the supply remains much lower compared to the demand, and the only way to survive this summer could be to adopt drastic water-saving measures and a few good spells of pre-monsoon showers.

Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?

Capital markets regulator <keyword id="20378396" type="General" weightage="20" keywordseo="Sebi-Chief" source="keywords">SEBI Chief</keyword> <keyword id="19922107" type="General" weightage="20" keywordseo="madhabi-puri-buch" source="keywords">Madhabi Puri Buch</keyword> on Monday refrained from commenting on the investment vehicle, <keyword id="20024284" type="General" weightage="20" keywordseo="real-estate-investment-trusts" source="keywords">Real Estate Investment Trusts</keyword> (REITs), saying if she comments on the subject, she will be accused of <keyword id="20339010" type="General" weightage="20" keywordseo="conflict-of-interest" source="keywords">conflict of interest</keyword>. The remarks came as US short-seller <keyword id="20016892" type="General" weightage="20" keywordseo="Hindenburg-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindenburg Research" meta.hostid="261" meta.entityid="Hindenburg Research">Hindenburg Research</keyword> raised questions about a potential conflict of interest involving Buch and private equity major <keyword id="20144468" type="General" weightage="20" keywordseo="Blackstone" source="keywords" meta.keywordsubtype="org" meta.entityname="Blackstone" meta.hostid="261" meta.entityid="Blackstone">Blackstone</keyword>. Her husband Dhaval Buch is a senior advisor with Blackstone, a major player in the <keyword id="20009947" type="General" weightage="100" keywordseo="REIT" source="keywords">REIT</keyword> space. However, the couple refuted the allegations. Also, Hindenburg alleged that SEBI's recent amendments to REIT regulations 2014 favoured a specific financial conglomerate, which the markets regulator denied. Speaking at an event organised by industry body CII, Buch said," If I utter the word REITs, I am accused of conflict of interest". REITs are a new concept in the Indian market but have been a popular choice globally for their lucrative returns and capital appreciation. A REIT is made up of a portfolio of commercial real estate assets, the majority of which are already leased out. Meanwhile, the <keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="261" meta.entityid="Congress">Congress</keyword> on Monday levelled fresh conflict of interest allegations against Buch and asked Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> to come clean as the head of the appointments committee of the cabinet on her appointment. At a press conference, the Congress alleged that since the current SEBI chairperson took office in 2017, she has not only been drawing a salary from SEBI but has also been holding an office of profit at the ICICI Bank, continuing to receive income from them to this very day. SEBI didn't make any comment on the allegations made by the Congress. Last week, the SEBI Chief stated that there has been a positive response to small and medium REITS (real estate investment trusts) and industry players came forward for regulations on such entities. Recently, the Securities and Exchange Board of India (SEBI) implemented regulations for small and medium real estate investment trusts (SM REITS) aimed at significantly increasing investor interest in fractional ownership of real estate assets.

You Searched For "industrial estates" and got 10 results

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I have 6 short-term rental properties. People think real estate is passive income, but I disagree.

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Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?

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If I say anything on REITs, will get accused of conflict of interest, says SEBI Chief

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