TRUMP STRATEGIES FOR REAL ESTATE CHAPTER 1 potx

[...]... customer, Trump s basic real estate strategies will be of interest to: • Anyone who is interested in owning or developing real estate • Anyone unsure of how to negotiate a real estate transaction • Anyone who is in real estate on a small scale but would like to do more • Anyone interested in learning how Donald Trump does his magic This is the first book on Trump s strategies for the real estate investor... important are the real estate investing strategies used to acquire and develop the property, and how you design and market the property to buyers or tenants Many of the same basic principles that work for one of Trump s $300-million skyscrapers work just as well for smaller properties Anyone interested in investing in real estate can benefit from a study of Trump s real estate investor strategies For example,... brilliant real estate investing minds anywhere For example, in the early 19 80s, with the building of Trump Tower on 5th Avenue, he singlehandedly created the market for high-end luxury residences in New York City He continued with a string of successes and in 2003, 9 of the 10 highest selling apartments were in Trump buildings—apartments that sold for millions of dollars each What can the small real estate. .. had the opportunity to watch Donald Trump in action as he made some of the greatest real estate investments in history This book explains the strategies Donald Trump used to make his real estate fortune, and how small investors can apply them to investments of any size, right down to a one-family rental property I describe how Trump implements some of his signature strategies such as creating luxury,... there was an opening upstairs in the real estate acquisition and leasing practice, the place where real money was made It was an excellent opportunity for advancement and Bill was slotted for the job I was to take his spot in litigation But before he could start, he was drafted into the army and recommended me for the real estate position Once upstairs, I had the good fortune to apprentice to Murray Felton,... can use these same qualities in their own real estate investments to negotiate better deals, sell properties for more money, and dramatically improve real estate profits INVESTING CASE STUDY TRUMP S COMMODORE-HYATT PROJECT This real estate investment was a monster as far as complexity was concerned It was 19 74, New York City was struggling to survive, and Trump decided that this was a great time to... of the greatest real estate minds in the business ACKNOWLEDGMENTS My gratitude to Donald J Trump for becoming such an important part of my life as a friend and for giving me the unique opportunity throughout my career to help turn his visions of spectacular projects into realities xxiii 1 SELL YOURSELF LIKE TRUMP F i v e Pe r s o n a l Q u a l i t i e s Yo u N e e d t o Succeed in Real E s tate KEY... • Use your enthusiasm for the project to inspire others Build relationships with everyone involved in a deal Showmanship is a real estate strategy Be better prepared than anyone else Be tenacious 1 Grand Hyatt D TRUMP BECAME a billionaire in real estate by making a series of incredibly creative and successful investments in New York City properties He is now the largest real estate developer in New... R E FA C E I ’VE SPENT 50 YEARS as a lawyer, business advisor, and deal negotiator for real estate tycoons at the top of the world’s toughest real estate market—New York City I’ve represented or negotiated with great real estate minds like Harry Helmsley, Sam LeFrak, Bill Zeckendorf, and Donald Trump It’s been my good fortune to spend many of the best years of my career as Donald’s right-hand man These... far more money, square foot for square foot, than his competitors’.) A number of the chapters focus on a particular real estate investment that I was directly involved in negotiating or advising Trump on Using this example, I draw out the lessons and explain how the same strategies that Trump used to make huge profits on his deals can work for you—the small investor Although Trump does things on a grand . lessons for the small investor / George H. Ross with Andrew James McLean. p. cm. Includes bibliographical references and index. ISBN 0-4 71- 718 35 -1 (cloth) 1. Real estate investment. 2. Real estate. Sons, Inc., 11 1 River Street, Hoboken, NJ 07030, (2 01) 748-6 011 , fax (2 01) 748-6008. Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing. to watch Donald Trump in action as he made some of the greatest real estate investments in history. This book explains the strategies Donald Trump used to make his real estate fortune, and how