Donald Trump And Real Estate Investment
If there is one lingering image of success in real estate investing, it is that of the charismatic Donald Trump. He is the icon of the highs, and lows, of the business of real estate. His rise from an intrepid investor to a billionaire developer holds out several lessons.
The sheer scale of operations of Trump could overwhelm us all. But, he did not attain it overnight. Sure, he had a legacy of real estate development, the Trump Organization, handed down by his father. However, he worked hard and brought in shrewd business acumen to enlarge his canvas of operations. His vision and commitment made him move away from the traditional strongholds of his father’s business and develop multi-million dollar projects with the high and mighty queuing up to grab a cherished piece of property.
There are a couple of lessons here for the retail investor in real estate. Whether one is clutching on a property for a few thousands or closing out with million dollars, the principles underlying real estate investment are just the same. Here is a quick checklist from Donald Trump’s life:
â?¢ Be convinced about the real estate investment before you set out to negotiate. Unless you carry your conviction, others who are part of the scenario would not share your viewpoint. Trump’s enthusiasm for the Grand Hyatt project from the dilapidated Commodore Hotel resulted in one of the best landmarks of New York City at a time when others dismissed it as impossible.
â?¢ Actively involve everyone who is a part of the project. The seller, broker, inspector, lender and yourself are in partnership trying to arrive at a deal that is beneficial to all. To ensure smooth completion of the transaction, communicate effectively with each one so that misconceptions are removed and the deal goes through without glitches.
â?¢ Do not burn your bridges. Keep your contacts alive through effective networking. Greeting cards, phone calls, messages and gifts are some of the methods to remind others that you are interested in upcoming projects.
Copyright © 2006 Joel Teo. All rights reserved.
October 4th, 2008 at 1:23 pm
Should Donald Trump run for President, Governor, Senate…?
Donald Trump is often quoted as saying the war in Iraq is a disaster, Secretary of State Rice cannot close a deal. "She gets on the plane, waves, takes pics with national figures chats, gets back on the plane, and waves some more. Nothing is happening with her."
Trump talks of politics and says he has ruled out a run for public office even though he has been asked many times to declare his candidacy. Yet, Trump consistently talks politics and voices his opinion regarding national issues. He proudly talks about his ratings on "The Apprentice" as being high and his real estate investments are booming.
Would Donald Trump make a good candidate for public office…?
Should Donald Trump run for any office and what office would you like to see him seek…?
October 4th, 2008 at 6:25 pm
Donald Trump has more mouth than brains. He should just stick to what he does best…promote breasts and marry young girls…..
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October 4th, 2008 at 6:27 pm
Yeah and then we could call it "United States of Trump." Why would he take the pay cut?
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October 4th, 2008 at 6:29 pm
Absolutely not… We have enough people who think they are the greatest person to grace America with their presence… Why do we need another?
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October 4th, 2008 at 6:31 pm
What he should run for, is the nearest exit.
He is too consumed with his hair style.
You can't be serious mister.
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October 4th, 2008 at 6:33 pm
Personally, I think managing an office is like managing big business. So I think he can be a good candidate who wants and knows how to get results.
However, I think there should be a clear cut between businesses and state.
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October 4th, 2008 at 6:35 pm
For once, on this particular subject, I agree with him.
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October 4th, 2008 at 6:37 pm
trump is a frickin idiot with the rosie thng .NO
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October 4th, 2008 at 6:39 pm
I don't know that he would want to be president, but if he did become president, I can't see him being any worse than the current executive.
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October 4th, 2008 at 6:41 pm
Donald Trump would indeed make a good prez because he has been a business man all of his life and he would run the White House like a business.
He doesn't bite his tongue, he's tough and has a knack for on the spot problem solving.
He's got my vote!
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*Big fan here of The Apprentice*
October 4th, 2008 at 6:43 pm
Donald Trump needs to take care of his existing businesses. He is not a good politician, in my opinion. So therefore, he should not run for any office.
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