Spot Real Estate Opportunities the Donald Trump Way

“Education, research, knowledge - learning in general - are at the core of my success.” - Donald J. Trump

We’ve been working on a new book here at Trump University, Trump University Wealth 101. It won’t be published for a few months, but I didn’t want to make you wait that long to learn some truly remarkable insights from our Chairman, Donald J. Trump, on the art and science of developing properties.

Trump Secret #1: Be Thorough

“Plug in and learn everything you can,” Mr. Trump writes in the new book. “You never know when information will come in handy.”

For example, Mr. Trump spent years investigating the building located at 40 Wall Street in lower Manhattan before he bought it. He learned about the building itself. He studied everything about the area. He knew how much money the property was generating from its tenants - and how much money it could earn. He knew about the owners’ activities and overall situation.

So when the time was right in 1995, Mr. Trump was able to buy the building (the tallest in lower Manhattan, right down the street from the New York Stock Exchange) for $1 million. That’s not a typo - he really bought it for about the same price that relatively modest condominiums now sell for in Manhattan. And you can imagine what it is worth today. He was able to do that because he is one of the world’s most powerful negotiators, but also because of his depth of knowledge about the property, its owners, and nearly everything else.

So the message is that your knowledge can help you recognize opportunities that other people pass by - and seize them too.

Trump Secret #2: Be Tenacious

Some things take time. For example, The Trump Organization is currently completing Trump Place along the Hudson River in New York City, on the Upper West Side. With 16 buildings, it is the largest development ever approved by the New York City Planning Commission. Yet you might be astonished to learn that Mr. Trump actually acquired the land for Trump Place - now universally acknowledged to be one of the most valuable pieces of land in the world - way back in 1974.

“That’s a long time to wait,” Mr. Trump writes. “If I hadn’t been tenacious, Trump Place would still be in my head. Tenacity enables you to work through obstacles and problems along the way without becoming worn-out or negative. In fact, you should expect problems, so you don’t waste energy.”

Trump Secret #3: Value Your Competition

Mr. Trump likes competition. He thinks it is healthy.

On July 12, 2005, for example, he broke ground for the Trump International Hotel & Tower in Las Vegas. It is the first of his real estate ventures in Las Vegas. That property doesn’t hide from competition. In fact, it is located right across the road from Wynn Las Vegas, the signature property of Steve Wynn, a man who reinvented the Strip with such mega resorts as The Mirage, Treasure Island, and the Bellagio.

“Competition fires me up.” Mr. Trump writes, “Competition pushes me to expand and extend my efforts beyond what I thought was possible. Competition forces me to outdo myself. I love competition because, ultimately, it makes me bigger.”

Now that is remarkable thinking. If your competitors are achieving success in a particular region, your wisest move could be to go right there and establish a beachhead as a developer too. Don’t hide from your competitors. Use what they are doing to impel your own activities to greater success.  

Editor’s note: If unusual wisdom like this fires you up, you will find even more of it in all Trump University courses, including The Real Estate Investor Training Program.