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5 Things You Need To Know About WeWork’s New (Real Estate) CEO



WeWork just hired a very well-known real estate executive to run its ship, even more indication that “the world’s most hyped startup” is done pretending to be a tech operation.

Hiring Sandeep Mathrani, a long-time real estate veteran with billions of dollars under management, is a clear indication of that.

Ever since the failed IPO that led to the departure of founder Adam Neumann, the constant verbiage—internally, externally, publicly—is that WeWork is “focusing on their core business.”

In other words, doubling down on their real estate strategy, meaning the monetization of square footage, whether through lease arbitrage or simply leasing out buildings they’ve bought through their $3B fund.

On a different, but related note, this vehicle was led by Wendy Silverstein—another well-known real estate executive-who’s since left on the heels of the failed IPO.

OK, back to the new CEO. Mathrani.

Who is he? Why did WeWork hire him? And what does it all mean? Hard to know for sure. But here are five things we DO know—and five things you should know, too.

1) He was just Vice Chairman of Brookfield Properties, a $17B REIT.

Mathrani spent the last 1.5 years as the CEO of Chicago-based Brookfield Properties’ retail group and vice chairman of Brookfield Properties.

2) Before that, he was CEO of General Growth Properties, a Chicago-based mall giant.

Mathrani spent eight years as CEO of GGP, one of the largest mall operators in the US. That is until Brookfield acquired it for $15B in 2018, $9.25B of it in cool cash.

3) He took GGP from bankruptcy in 2010 to a $15B sale.

When Mathrani landed at GGP, the mall operator was just recovering from a brutal bankruptcy. Less than a decade later, he’d turned the business around, eventually leading it to a $15B exit.

4) And before THAT, he was Executive Vice President at Vornado—a $12.5B REIT.

Before his eight-year GGP run, Mathrani spent eight years as executive vice president with Vornado Realty Trust, a public REIT with a $12.5B market cap.

5) He will be reporting to SoftBank’s COO…

Even though he’s CEO, Mathrani will be reporting to SoftBank Marcelo Claure, the SoftBank COO, who was appointed executive chairman of WeWork in October. That move was done to help salvage SoftBank’s $18.5B bet on WeWork.


Money, Profit, Finance, Business, Return, Yield

What’s next?

According to the WSJ, SoftBank has a five-year plan that expects Mathrani to bring the company to profitability inside that period. And allow it to be cash-flow positive by some time next year.
In real estate, the business model is simple: revenue comes from rent. Profits comes from savings. And part of that five-year plan included mass layoffs.
WeWork cut 2,400 employees in late November, shortly before the Thanksgiving holiday. Silverstein resigned. In addition, they’ve been selling off “non-core assets” acquired under Neumann.


How Big Real Estate Moguls Avoid Taxes (And How You Can, Too) 👀



I was looking around Google for an old article on tax strategies and this five-year old video of myself happened to pop up.

I’m interviewing a tax expert about how real estate investors avoid paying taxes in perpetuity—AND how everyday citizens can do the same thing.

(Real estate—our TEMPLE I and TEMPLE II projects included—has a number of tax benefits savvy investors have capitalized on for years, including Opportunity Zone breaks and 10-year tax abatements.)

There’s the 1031 exchange, of course, which I’ve shared with you guys before. 

Just to refresh your memory, the 1031 Exchange allows you to roll over gains from your last project into a new property TAX FREE—as long as said property is worth the same or more.

But there’s ANOTHER TAX LOOPHOLE that can take your portfolio to an entirely new level by splitting your capital gains into MULTIPLE properties.

So I thought I’d share it with you guys. 💎

You can check it out here.

Let me know what you think. 😎

PS: In our next update, I’m going to break down how real estate moguls get paid from their properties…tax free. 👀
PPS: If you want to learn how to implement generational wealth strategies like this one, you can join our NYCE wealth academy (TRIBE U) here.

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How I run a $300M+ business from the beach…(and how you can TOO!)



Yes, you read that right.

If there’s anything the pandemic taught us, it’s that the paradigm of “office” and “workspace” has been shaken to its CORE.

Universities are teaching via Zoom, court dates are done virtually, FULLY REMOTE businesses are valued at $1B+, and legitimate Inc. 5000 startups are run from…wherever. 📲

This is my office for the day…

I am actually running our business from the beach, typing this from here.

It’s 4:28 pm CET, which means it’s 10:28 am EST and I am CRUSHING my to-do list.

(And the team will continue to crush it while I’m asleep. That’s the 🗝)

So how did we get here? 

We launched NYCE and our mission to create 100,000 millionaires in March, 2020…just as the global COVID-19 lockdown happened. 😳

As a result, we shut down our main office and set EVERYTHING up to run remotely…

SMOOTHLY! And a system that allows us to outperform competition by 200%. (You can build this system, too. More on this in a second.)

Here’s what we were able to do since then:

  • Gained 6M+ followers across all platforms 📈
  • Add 1500+ new apartments to the portfolio 🤑
  • Grow to $300M in real estate 🚀
  • 105% investor returns 🎉
  • 700K+ community members 🤝

And here’s the best part…

Having team members in all the main time zones gives us a 24-hour work cycle vs. 9-5/eight-hour on-the-clock performance.

This means we get 3x the productivity of a similar company. 🔥

Let me repeat that…3x PRODUCTIVITY vs. our competitors.

Meanwhile our project management software grants us 24-hour TEAM-WIDE connectivity that tracks all tasks and lets us know if productivity dips even a little bit.

There is ALWAYS someone senior awake. It could be Martin in Barcelona…Nat in New York…Vineet & Arif in New Delhi.

All the while giving YOU GUYS wealth hacks and daily content. 🔥

OK, so how can you do it?!

Well, the first step is to have an actual side hustle you’re launching. Not just an idea, a validated business.

MAJOR KEY: Do NOT spend money until you’ve made your FIRST DOLLAR! 🗝🗝🗝🗝

(You can catch a replay Business Launch masterclass here and see TRIBE member Nessa launched her business on the spot and got her first $45K client shortly after.)

One of the easiest ways to start is with Airbnb—you can start that in 10 minutes. Literally. (Here’s a guide if you need it.)

Once you have your business, you build a virtual infrastructure (you really just need two softwares, which are FREE), manage the team accordingly and run the business from there.

I’m gonna put together a step-by-step video breakdown this weekend inside the new TRIBE U on the FIVE key things you need to do this for YOURSELF. 💵 💎

From what software to use, how to build a team, how to keep.

In the meantime, drop a comment if you’re ready to build some wealth and any questions if you want more…

Let’s get to work. 🙌

PS: If you can’t be bothered with video and just wanna get to work, we’re hosting a TRIBE U workshop that will help you get this process started on the spot. It’s $479 $49. 🔥

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NYCE CEO: Apps Like Robinhood Have A Responsibility To Their Young Investors



Investor and popular Instagram influencer Philip Michael says new fintechs need to take greater responsibility for their younger traders. 

“Promoting financial literacy is a must, but encouraging risky gambling is reckless,” Philip Michael, NYCE CEO, says. 

In 2020, a 20-year-old Robinhood trader killed himself after engaging in risky options trading and seeing his balance $730,000 in the red, leading to a wrongful death lawsuit against the investment app.

“The main apps onboard as many new users as humanly possible, but there’s really no educational process,” Michael says, “and these first-time investors are left to figure things out on their own.”

NYCE—a fintech focused on creating wealth for minorities—wants to create 100,000 millionaires through real estate investments and wealth education.

Through its app, investors can own shares in apartment complexes for as little as $100.

Since launching, NYCE has set records for most new first-time BIPOC real estate owners, buying over 1500 apartments in the pandemic and splitting ownership with its investor crowd.

Once investors are in, NYCE automatically enrolls investors in an online wealth academy (TRIBE) that teaches basic wealth principles, responsible investing and how to spot irregular fads like altcoins and meme stocks.

“Becoming a millionaire is a function of time and habit, not luck and one-time scores,” Michael says. “The micro-investments are really just the gateway drug to that wealth mindset.”

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