This Issue: Rock-Solid Strategies for Tough Real Estate Times

Arizona's housing crisis was deepening. Homeowners were losing their houses. But that got Kevin Andrews thinking. Andrews, a Trump University real estate investing student, started to wonder whether he could help homeowners and help himself at the same time. And then he hit on a way.

Kevin heard about a man in Arizona who was trying to avoid a foreclosure. This homeowner was overwhelmed with an outstanding $80,000 mortgage and more than $13,000 in medical bills. There was no way he could dig out from under his bills.

“I knew I could sell the house for at least $30,000 more than the $80,000 he owed,” Kevin explains, “and I wanted to do the right thing.”

The homeowner accepted an offer of $95,000 from Kevin. Then, after the sale was complete, Kevin put a "For Sale by Owner" sign in the front yard. The next day, he received an offer of $115,000 for the property.

"Trump University taught me how to create a win-win situation by purchasing a home in the final stages of foreclosure," Kevin explains. "My wife and I made $20,000 on our very first deal and we helped a struggling homeowner."

Since closing that deal, Kevin has helped three other homeowners in pre-foreclosures by finding buyers. Plus, he has invested in four other pre-foreclosed residential and commercial properties.

"Every property we've invested in has been done first with homeowners’ interests in mind," Kevin says. "We want them to be able to get out of foreclosure and walk away from the sale with some money to pay off bills, or simply to have in their pockets. That way they end up with more than if they let their home or property get foreclosed on by the lender."

There’s no doubt about it. The state-of-the-art investing knowledge students learn here at Trump University allows them to help others as they help themselves. Get involved in our real estate courses to learn more.

I learned a lot from my father, Fred Trump. I learned about competence and efficiency. One of the best pieces of advice he ever gave me was his favorite formula for success. I call it Fred Trump’s Four-Step Formula for Getting Things Done. The four steps are: "Get in, get it done, get it done right, and get out."

In looking back, I realize I also learned this formula by watching him in action. That's how he operated, and it worked.

Let's break this formula down:

Get in.  This is shorthand for getting started. If you want to be part of the action, you can't watch from the sidelines. Give yourself a goal and focus on it. Write it down. There is a lot of information now that proves that making lists -- even if you are able to do it in your mind, which I am -- is effective. In fact, three lists should be in your mind at all times: Your daily goals first, your year's goals second, and then your lifetime goals. Look at or think about these lists daily -- it will help your focus tremendously. A lot of people don't realize that stress is directly related to loss of focus -- so if you learn to control your power of focus, you'll be on the way to conquering stress in your life too.

Get it done. Sometimes that's easier said than done. Here's where you may have to confront obstacles. So, expect them. Expect problems. They are there to bring you closer to getting it done. It's amazing how much this attitude will help you in life -- your attitude will be "that's to be expected" versus "poor me, look what's happening!" Keep your focus on getting it done, and your problems will seem like nothing more than part of the day, like sunrise and sunset.

Get it done right. Here's where I can be -- and have been -- labeled "difficult." I know what great is. I know what mediocre is. Mediocre and I do not get along. I have high standards for myself, and therefore, I don't put up with less than the best. That's why the Trump brand is synonymous with the best. If you have a product or a brand, or a business, you'd better have the same attitude or you're not playing hardball. This focus is how I made a name for myself. I have the ability to get things done and to get them done right. Very few people will argue with that fact, whether they like me or not. I can deliver the goods, and they know it. Rock solid is rock solid. Work toward that reputation for yourself.

Get out. This approach will clear your slate for all the new and exciting projects that are waiting to be done -- by you. This is another example of disciplined focus. When a job is finished, it's your time to move on. I have people who will look after my developments, and there is no reason for me to spend my time doing what other people can do. My job is to find new projects for everyone to work on. Figure out what your job is and streamline your activities and mental energy to focus on that.

Considering the scope of my businesses, and the fact that I am actively involved in all of them, I think you can recognize the fact that I employ the Four-Step Formula on a daily basis. Day in, day out, that is how I organize my thoughts and my days. It worked for my father, and it works for me.

Now make it work for you!

Today’s article is adapted from Donald J. Trump’s latest book, Never Give Up: How I Turned My Biggest Challenges into Success, published by John Wiley & Sons.

Donald J. Trump is the greatest real estate developer in history. But he is the first person to admit that he needed a great team behind him - great advisors, great attorneys, great accountants, and more. Yes, Mr. Trump is a man of formidable abilities. But even he couldn't go it alone.

If you want to follow in Mr. Trump’s footsteps, be sure to assemble a great team too - the earlier, the better. These 10 strategies will help assure that you bring the right people on board. 

1. Ask “What would you do if you were in my position?” to get a glimpse of a potential advisor’s ability to plan flexibly.
2. Ask what he or she did to help another client who was once like you. Does it sound like a process that will work for you?
3. Don’t hire someone who will not answer all your questions clearly, patiently and positively.
4. Trust your gut. If you have a negative initial reaction to someone, why would you consider putting him or her on your team?
5. If you hear, “Here’s what I do for all my clients . . .” you are getting a spiel, not individualized attention.
6. Ask for a timeline about what and the advisor will do in the first meeting, in the first six months of your work together - and out into the future. You want to hear a structured plan, not only first steps.
7. Call your potential advisor on the phone before you agree to work together. If he or she is tough to contact, go with someone else.
8. Look around the waiting room while you are waiting to interview your potential advisor. Are the people who work in the office the kind of professionals you want to get to know? Do you like the way they answer the phone and interact with the clientele they serve?
9. Don’t agree to pay a monthly retainer - at least not in the early stages of your relationship. Start out with scheduled pay-as-you-go meetings and move to a retainer when doing so makes financial sense for you.
10. Ask for a detailed fee schedule. If he or she can print one off and hand it to you, that’s a very positive sign.

Remember, a great team is part of any success - whether you are making your wealth as an entrepreneur, a real estate developer or an investor. Invite the best people to join your team - and watch your success soar.