Archive View (September 2009)

In a recent conversation with an asset manager, the topic of foreclosures came up and various stories about what you find when you first acquire that property. He told me about a recent default on a fraternity house.  Yes, you heard me correctly, the bank had to foreclose on a fraternity house.  He asked me, "Tina, what do we do with a 15 bedroom + 1 huge party room house that reeks of beer?"   Good question!  To add a bit more detail:  each bedroom had deadbolt locks, there were some creative "paintings" on the walls, the kitchen was pretty non-existent, and the more...

The following question was submitted to "Ask Donald Trump" by a Trump University member. Question: How has your family life and marriages influenced, either positively or negatively, in your way of achieving things? How is this aspect of your life tied to your success? My Response: Having a happy family life definitely provides an equilibrium that is very helpful for finding success. It is a firm foundation, just as education can be. A family unit is stronger than an individual. For example, I am the Chairman of a large organization, and I know how effective it is, and how important it is, to have a more...

The property you’re considering looks good. The price is right. It’s just what you’ve been looking for, and you’re about to make an offer. But think twice, because you need to do a little due diligence to make sure the deal doesn’t contain any hidden pitfalls. Here’s a list of easy-to-miss deal-killers. They represent very good reasons to walk out of a real estate deal and continue your search for other properties: Property Deal-killer #1: The local government makes it impossible to get work permits. The town will make you wait three months for a permit to put in a new sidewalk more...

My daughter Ivanka’s first book, The Trump Card, is a collection of personal memoirs and business advice. It will be released on October 13th by Simon and Schuster. She’s done a terrific job and I’m very proud of her. The Trump Card: Playing to Win in Work and Life Ivanka Trump. A child of privilege with one of the most familiar surnames in America, Trump has managed to avoid many of the pitfalls that routinely plague children of the rich and famous (reckless partying, drug abuse and other mindless self-indulgences) to become a focused, successful woman in her own right-a model, entrepreneur and vice more...

Have you ever gone on vacation and said, "I would really like to own a place here"?  Have you ever rented a large beach house with family members and/or friends?  Do you prefer to take a family trip within a one day drive of your home? If you answered "yes" to any of these questions, the concept of fractional ownership may appeal to you. As second home buyers are looking for more affordable ways to acquire their vacation home, fractional ownership has seen an increase in exposure.  Fractional ownership is, simply put, a group of friends, relatives or investors pooling their resources to more...

Henry Ford said “Don’t find a fault. Find a remedy.” That statement can cover a lot of territory in our business lives as well as personal lives. I have often said that one way out of a problem is to focus on the solution, which is a similar take. The next step is tenacity. People who know me know that I don’t give up. I’m someone who stays the course and sometimes it can take decades. Trump Place on the Hudson River took many years to come into being, as it was in 1974 that I first secured the option to buy more...

The recent spates with Joe Wilson, Serena Williams and Kanye West left some people wondering if America lost its civility. If you enjoy pop culture or politics it may seem that way. How much effort does it take to treat other people the same way you want them to treat you? I've actually asked people about this.  Surprisingly, many think that being nice: Breaks the flow of the conversation Feels artificial Produces self-consciousness or embarrassment Some people are friendly and polite with their buddies, family, colleagues and co-workers. But when it comes to people that they do not know, like baristas, store clerks and servers, they more...

A fairly new real estate investor once explained to me why he gave up trying to buy a property on the courthouse steps.  He said it was a waste of his time because the group of investors who attended these auctions seemed to look out for each other and get all the good properties. Instead of trying to join them, he shunned them.  Who lost out there? Successful real estate investors seem to be a pretty close group.  They ride the hills and valleys together and often, tend to help each other out.  I've known quite a few investors who made good business more...

In my last post What is a Tax Lien Sale? I discussed what they were and how to earn money investing in tax liens.  Today we are going to review some of the issues real estate investors should be aware of if they are considering this type of investment. Tax liens are illiquid.  They must be held until they are repaid or the lien holder takes the action to foreclose.  While tax liens can be transferred to another party, they cannot be cashed in.   If the real estate investor does end up acquiring the deed to the property, they also acquire any problems more...

I hated to see Serena Williams apologize so much for her actions in her recent loss to Kim Clijsters. I have always liked Serena and respected her tenacity. She got angry at a line judge, as have many other great players like John McEnroe and Jimmy Connors, because the line judge made a mistake--there was no foot fault! The line judge made a very evident mistake, and she is the one who should be apologizing. She had a smirk on her face and was being a wise guy. Serena was right to be upset, as would be any other player. The backlash against more...

With so much being said about how bad things are, I’ve decided we need to accentuate the positive. There are always positives, and one reason I’ve remained resilient is because I choose to see the bright side of situations. People who know me and work with me know that my persona of optimism isn’t a façade--it’s for real. I want to emphasize how valuable that approach is if you intend to be successful. Your attitude is also your altitude--and the higher your frequency, the greater your results will be. That doesn’t mean it will happen overnight. As you might know by now, I more...

LinkedIn - http://www.linkedin.com LinkedIn helps local businesses become global. LinkedIn is the largest professional networking site on the Internet. It's a place to connect with colleagues from around the world. You can share what you do, promote yourself and find work. LinkedIn gives a small business in Nebraska the power to have a major client in New York. Digging and follow-up are the keys to success on LinkedIn. Ask all of your associates and colleagues if they are on LinkedIn. If they are, add them to your contact list and use LinkedIn to message them. Make LinkedIn a part of your networking routine more...

One of the requests I receive the most is for a list of the top ten tips for success. Here’s a list that addresses students as well as professionals: Be focused. Put everything you’ve got into what you do every day. Believe in yourself. If you don’t, no one else will. Be tenacious. Trust your instincts. Maintain your momentum and keep everyone moving forward See yourself as victorious and leading a winning team. Be passionate about what you do. Live on the edge. Do not become complacent. Leadership is not a group effort. If you’re in charge, then be in charge. Never give up! more...

In their groundbreaking business book, Built to Last: Successful Habits of Visionary Companies, Jim Collins and Jerry Porras introduce BHAGS - Big Hairy Audacious Goals. These are 10-to-30-year goals that change the very nature of a business's existence and often the nature of entire industries. People can have big hairy audacious goals too. Just look at Ed Viesturs.  Ed decided to climb all 14 of the world's 8,000 meter (26,000 feet) mountains. It took him 18 years to do it and it changed his life. At first, Ed was just another guy who enjoyed climbing mountains. After he set his big hairy audacious goal more...

Tax lien sales are becoming more popular as unpaid real estate taxes continue to pile up and the general public becomes more familiar with tax lien investments. In the United States, 29 state (plus DC, Puerto Rico & USVI) tax collectors use tax lien sales to force owners to pay their unpaid property taxes.  But, here's the catch...you're not bidding on the property itself.  You are actually bidding on the unpaid property taxes.  If you are the winning bidder, you become the proud owner of an official property tax lien. Depending on the individual state law, it can take anywhere from a few more...

I remember hearing someone say “I am not an intellectual, but I’m well informed” when they were talking about their interests, and I thought that statement was well put. People are surprised when they discover the variety of subjects I am interested in, but that comes with paying attention to newspapers, magazines, television coverage and the Internet. If you stop to consider how much information is given out on a daily basis, there’s very little reason not to be well informed. Give yourself opportunities by refusing to limit yourself. I may be a businessman, but I attend concerts, read history books and more...

The following question was submitted to "Ask Donald Trump" by a Trump University member. Question: What is it that motivates you every day in the morning besides your family, love and passion for your business?  My Response: I have remained a curious person and that’s a motivation in itself. There’s always something to discover, and every day provides another opportunity. Remain alert and curious and you’ll be motivated every morning too. Related Post Inspiration Taking Control Focus On The Opportunities Related Training: Learn real estate investing  Work With a Coach Join Trump University's Network more...

These sites may or may not list properties in the local multiple listing service.   Backpage.com Craigslist.com Kijiji.com Iwantanoffer.com www.hud.gov/homes/index.cfm  Militarybyowner.com Buyandsell.com eadsbyowner.com  Findmyroof.com Freeadlists.com Justrealestatelistings.com va.reotrans.com resales.usda.gov www.usmarshals.gov/assets/nsl.htm homesales.gov Bonus  site of course there is Trump University's Foreclosure Deal Source. Related Video by Tina -10 Free Sites for Real Estate Agents to Post Property Listings  Related Training: Learn How to Invest in Real Estate  Work with a real estate coach to find the right market Join Trump University's Network more...

When purchasing real estate, some lenders will require a survey of the property.  With most investment, short-term and hard money loans however, the survey is optional (as with cash purchases). The cost of a survey is typically fairly minimal, a couple hundred dollars.  When the property is waterfront, heavily wooded, rough terrain and/or especially large, the survey can run into a few thousand dollars.   By getting a survey, you not only see your property lines, you also see any encroachments, easements, infringements or right-of-ways on the property.  Encroachments and infringements can pose problems that you may want to have corrected prior to more...

There are many stories of inspiration that we can draw on from history, such as Abraham Lincoln and his triumph over many years of adversity, and there are people who are living and working today who have had success despite many setbacks and tragedies. I recently came across a book by a man who survived five concentration camps as a teenaged boy who became a real estate developer in Los Angeles and encountered great success. His story is an inspiring one. A Holocaust Survivor: In The Footsteps Of His Past is by Naftali Deutsch. After his parents and brothers were murdered more...

When I read about Phillip Garrido and what he has done, it made me believe in the death penalty as never before. He is a monster who ruined a young girl's life and may have killed other women as well. His horrendous treatment of another human being shouldn't be taken lightly. I don't understand people who don't condone the death penalty. There are people who obviously have no conscience and if they do, knowingly continue to commit crimes. They are obviously not capable of censoring themselves and any behavior is 'okay' as long as they get away with it. What Garrido has more...