Contents:
Presentation is immensely important. Find highly distressed scenarios and buildings that need work and takeover. Meet with the decision maker face-to-face. Do not make quick negotiations, both sides want to feel like they won the battle and got a good deal. Most people will not want to put in a lot of effort during a transaction, in terms of accounting and preparation - do it for them and reap a big percentage of the gain. Be willing to pay a premium for a prime location. Don't buy Not to self: Don't buy without a creative vision for adding significant value. Four things Trump looks for in a location.
Creative problem solving leads to big profits. Write a preliminary business plan before you buy. If you want to be extremely successful make sure you have a vision for adding significant value to any property you buy. Find good quality tenants to increase the value of the property. Avoid the hypnotic effect of the aura of legitimacy. Don't take everything you read or hear from brokers, sellers, buyers, tenants, experts or see on television, as if it were etched in stone. Every negotiation requires preplanning.
Have a planner ready to write down all informations on people that you do business with. Go through the notions even when you are satisfied with the deal. You may be able to get a better deal - do this in a way that you are still respected and people are willing to do business with you in the future. Goldman, show disgruntle, even a WHAT?!
Will change the mind of a seller or the other guy over the phone. Negotiation is one aspect of life where there are no governing rules. Lying is not only permitted, its an accepted practice. It is accepting an available compromise as a substitute for that which you really thought you wandered. It's a journey to an imaginary destination without a road map where all the signposts and directions are intentionally misleading.
Narrow down ppls options. Ppl have an innate fear of superiority in others - fluff them with compliments and let them know that they won the negotiation. Sol goldman - Dumb is smart. Find someone's weakness and use it everytime when everything fails. To build up credit. Go ask for a loan and pay them back before them asking the money back from you.
Then increase the line of credit and pay that right back. You don't even need to use the money.
It's like taking cash out and putting it right back in again. Feb 22, Alberto Lopez rated it did not like it. Dec 30, Michael Perry rated it it was ok. Been some time since I read this book. I have been involved in real estate for a long time and sometimes feel as though I know just about all their is to know, at least on a fundamental level. This book did nothing to change my perceptions.
I can always tell when I have read a book that really makes my wheels turn - it goes in my throne room and I read parts of the book over and over again. Those are my 4 and 5 star books. This one sits on the bookshelf, collecting Been some time since I read this book. This one sits on the bookshelf, collecting dust. Might be good for a novice looking for inspiration. Jan 08, Peter rated it really liked it.
Nice book about real state; It uses Trumps different ivestment ventures as case studies for each subject the autor proposes. Even though I dont think they are THAT relateable to the small investor, it does share some common knowledge that might help you in the long rung, mostly about deals and negotiations.
On this note, im guessing this book is a nice compliment to "the art of the deal". I will read that shortly.
In all, an easy read, not pretencious at all and overall entretaining. Sep 09, Douglas rated it liked it Recommends it for: Business and Real Estate Investors. Albeit a bit dry in many parts, its a great book. Some great case studies about value enhancement. A great portion about engotiation and the final chapter has some great real estate tips for personal investors.
Jun 10, Fernando Boschini added it. Becoming a Corporation offers protection from personal liability, but it is also expensive. It is not a step to be taken lightly, even though there are plenty of places on the Internet where you can incorporate quickly and easily. I learned the ability to sell a stock and many more Oct 01, Wira Rohandi rated it really liked it.
Nice book, but a little bit beyond for me, they are talking of hundreds and millions of dollars. The ideas are broken down so that anyone could use them. Anyone who desires to impart knowledge of this very popular subject would be well addvised to start by reading his books. George Ross knew to pick James,enough said! No one can argue with Donald Trumps success so when I bought this book I was not dissapointed.
Although I have not yet build a casino or a 75 story building I will tell you that the trump strategies can be aplied to every level of business. I love Donalds positioning in the deal and his negotiating tactics. I have used several of them different times in my life and had some good success. A good read to change your perspective on how you position yourself and negotiate on deals.
No one knows Donald Trump better than George Ross, his right hand man for over 20 years.
I been dabbling in real estate for years so I figured this might be a good read with tips I could pickup. Donald Trump's track record proves it self, and none of his other books really goes into real estate investing specifics. This book was a pleasant surprise with a lot of good investing tips. Trump Strategies for Real Estate: The celebrity co-star of the hit TV show. For more than twenty-five years, author George Ross has been one of Donald Trump s chief advisors and intimately involved with many of Trump s biggest real estate deals.
Now, Ross teams up with bestselling real estate author Andrew McLean to present Trump s real estate investment strategies so that even small investors can invest like Trump. You ll learn how Trump identifies potential properties and how he finances, negotiates, and markets his big deals.