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Donald Trump on Real Estate
I love what Trump says about the business of real estate.
I am a big believer in setting up business systems for all my clients. So it is cool to hear from a master like Trump about the importance of systems!
THE REAL ESTATE BUBBLE OF 2005?
'What Donald Trump has to say about the latest business opportunities found in Real Estate Investing.'
By Phyllis N. Schwartz
Have you ever wanted to become a millionaire?
If so - and, if you live in the United States, there is now a very REAL chance for you to enjoy the same opportunities as Donald Trump.
You don't need to invest in real estate to be wealthy. But, by and large it is the easiest, most leveraged way to build real, sustainable wealth. With mortgage rates at an all time low and tax laws favoring real estate holdings, now is an ideal time to profit from the greatest real estate gold rush in history.
Marriage, job changes, divorce, new families, death -- the average American moves every five to six years. And with that constant stream of movement across the United States, more than 12 million homes are bought and sold every year. Many of these will be great deals that you, yourself, could be profiting from.
The very same principles that make Donald Trump a fortune with New York City skyscrapers will work for the average investor, no matter what size the property.
So precisely what can the small real estate investor learn from a billionaire wheeler- dealer like Donald Trump? According to George Ross, Executive Vice President and Senior Counsel for the Trump Organization (and, of course, Apprentice co-star), one of the cornerstones of Trump's philosophy is "Improve any location."
And that's just what Trump did in his very first real estate deal on a foreclosure of a 1,200 unit apartment complex in Cincinnati, Ohio. Without a penny invested, Donald and his father, Fred, were able to turn the apartment complex around by doing some remodeling and taking a tough stance on rent collection.
In the single most valuable lesson in Donald Trump's real estate career, he learned how the government would assist buyers in purchasing property with little or no financial backing and how to get such aid. His passion for real estate grew from there and he went on to create the strategies and systems that turned his business into an empire.
"Deals are my art form. Other people paint beautifully on canvas or write wonderful poetry. I like making deals, preferably big deals. That's how I get my kicks."
In New York City, the Trump signature is now synonymous with the renowned Trump Tower, The Trump International Hotel & Tower, The Trump Park Avenue and the Trump Building at 40 Wall Street. He also owns golf courses in 4 states, and current projects include the building of the biggest development ever approved by the NYC Planning Commission .
Ranked #228 on Fortune Magazine's list of the world's billionaires, Trump stated: "Real estate is at the core of almost every business, and it's certainly at the core of most people's wealth. In order to build your wealth and improve your business smarts, you need to know about real estate."
The most obvious problem that confronts many would-be investors is lack of know-how and/or financial resources. Common sense would dictate that wanting to make money in real estate is simply not enough. Knowing how to get it is the real key to success. Like any other profitable business, it takes a proven business system.
In Trump: The Art Of The Deal, 'The Donald' gives his own assessment: "If you take care of the downside, the upside will take care of itself. In other words, if you have a contingency plan for everything that can go wrong, you can't help but succeed."
So how does the average Joe or Jane actually succeed in real estate?
Because you can't know it all, no matter how smart, educated or experienced, there is no way to acquire all the wisdom you need to make your business flourish. It's precisely why 95% of franchises succeed and only 25-35% of independent businesses fail. Wanting to make money in real estate is simply not enough.
Just as Donald Trump had starting out, you need a great mentor with a proven track record to lead the way and support your efforts? also a proven business system that allows you to invest in all types of real estate without ever having to tie up all your own cash. It is wise to begin your journey using the research, experience and wisdom of those who have been there before you.
The beauty of a franchise is that it provides a proven business model with years of experience behind it. As far afield as real estate investing may be from starting a McDonalds, the principle is the same. If you can find a real estate investment teaching program that eliminates much of the trial and error and allows you to get a quick start with a proven system, you've just found your own golden arches.
True success is bigger than any one person, no matter how well educated or experienced that person may be. There is no reason to settle for anything less. Once again, to quote the king of real estate: "If you're going to be thinking anything, you might as well think big." Sound advice to anyone who wants to become a millionaire.
p.s. Don't forget to check out my one of a kind business system for real estate investing.
I am the only expert teaching you how to use business lines of credit to invest in real estate instead of cash!
Tom is a full time real estate investor. He has purchased and sold over 5 million dollars worth of real estate in less than 2 years.
Tom is an expert in using new business lines of credit instead of cash to buy real estate. There is no one else teaching anything like this SYSTEM of real estate investing!
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