Hannity is the owner a massive real estate empire spanning various states and spread across 20 shell companies. His real estate portfolio has “at least 877 residential units, which were bought for a total of just under $89 million,
it gets better…and by better i mean more funny
He reportedly brought up the majority of his holdings in 2013, after banks had foreclosed homes of owners who defaulted their mortgages. Hannity was a critical voice of the foreclosure rate during the Obama administration, reportedly saying that “millions more Americans suffering[.]
The Fox News host had Carson on his show in June 2017 to discuss HUD’s agenda, and reportedly did not disclose his business interests on the show.
So basically its its saying he bought up 89 million dollars worth of homes and apartments using HUD…Ill be curious how this comes back to cohen. If he funneled money or not into those shell companies. Does that mean Hannity used the shell companies to avoid taxes? ( i dont know i dont understand the use of shell companies fully)
My bad. It first came to me as some sort of “gotcha.”
Sean has been making a celebrity salary since the mid 90s.(30 years?)
A LOT of real estate dropped in the panic a decade ago and, if one had the guts at the time, it wasn’t too hard to guess which foreclosures would likely double in value within a decade.
But the ONLY way for real estate prices to revover was for people to buy real estate.
Personally I am a little surprised Sean put such a large portion of his money into real estate.
Meh. Maybe he has a LOT more money than I think and that’s a small portion
Does he own 100% of the holding companies?
Do the companies own the properties debt free?
It would be easy he owns 30% of the companies and they put 30% down payments on properties that total $89 million. 30% of 30% of $89 million is $10 million.
The Hill reports (I’ll let interested parties search for it) that our host
“has links to”
companies that bought homes
and got mortgages to buy the homes.
IOW even if Sean Hannity is 100% owner of the companies, (I doubt it) the homes are worth $89 million, but the compo don’t own the homes outright.
I actually do know a guy who borrowed money to co-found (buy part of) a company that borrowed money to buy a dozen or do apartment communities in NJ.
If we ignore all the borrowed money and partial partnerships and mortgages on the properties we could claim my friend is worth almost $1 billion.
The truth is he is a college professor and
real estate consultant who might or might not become very rich one day. For now he is just another upper east sider who kinda has money, but not by NY finance sector standards, and he doesn’t own a car.
Sean has long said on his show that he prefers real estate investments over the stock market. It’s not at all surprising that he would go in with a group of investors that use the governments rules to their advantage. Go buy some mutual funds if envious.
