Back in the sixties when I was a teenager, my Uncle George used to visit my family every Sunday night. He was a very smart guy, but very eccentric. And boy, could he talk. One night he told us an amazing story. It seems that while he was tinkering in his garage in the late 1940’s, he discovered ... Views: 969
If I told you that I know someone who bought a business nine years ago and just sold it for an 80% loss, you would probably think I was describing an individual who doesn’t have one iota of business sense.
But you’d be wrong, because that is exactly what Mercedes-Benz did a few days ago when ... Views: 949
During the last century, many people were able to achieve great success by chasing just one goal. Henry Ford got a lot of mileage out of his dream to sell an affordable car to every average American. H. L. Hunt, at one time the richest man in the world, drilled for oil.
When you look at today’s ... Views: 946
Meeting the challenges problems present head on is a personality trait formed through habit. Some people develop the habit early in life, often through repetition to the point where the reaction is not even a conscious choice. Successful approaches to problem solving, though learned behaviors, ... Views: 943
For some great insights about why multi-unit properties offer great investment opportunities, I urge you to read last Friday’s post on this blog.
But to invest safely, you also need to be aware of the risks. If you fail to ask these questions before going into a deal, you could be making a very ... Views: 940
If you're going to live in the river, better make friends with the crocodiles.
- Anonymous
I've been fortunate to work with people I like. Some of my employees have been with me for 20, 25, even 30 years. If we didn't like each other, that would be a long sentence of misery. As it is, we work ... Views: 934
Reach for the stars, go for it, man!
- Sammy Davis, Jr.
America is a big country and bigness is essential to the American Way. It's everywhere you look: big money, big portions, big ideas. In a place with so much of everything, there's a lot of smallness, too, like millions of people of modest ... Views: 934
Last month I was coaching about a hundred or so seasoned real estate agents on how to buy and sell pre-foreclosures. It occurred to me that for most, it was a mystery that the best deals are found before the bank forecloses rather than after. The reason this happens is that not only in today’s ... Views: 933
After he graduated from college, Aylwin B. Lewis took a job as manager of eight Jack in the Box restaurants in the Houston area. He was not too happy with the job. Then one day a customer approached Lewis and asked if he was the boss of the place. Lewis said he was the person in charge. The ... Views: 930
"Think big" towers above most other advice you will hear on how to succeed. In just two words, it lays out a plan for achieving your highest goals.
The greatest challenge is to find ways to think big today, not someday. Here's how to make sure that happens.
Think Big Secret ##1: Seize ... Views: 925
Finding someone with the right mindset for a job should not be an accident. Obviously, you must first determine just what the right mindset for the job is. Then you need to use job ads to attract the right mindset and repel the wrong one. Interview using simple questions that help you learn ... Views: 921
A power strategy from the pages of George H. Ross’s book, Trump Strategies for Real Estate
George Ross, Senior Counsel for The Trump Organization, is a formidable negotiator and businessman. In his book Trump Strategies for Real Estate, he sets out this simple strategy that can actually make ... Views: 915
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***Stay Fresh, Stay Smart - by Steven Stralser, Trump University, The Official Guides to Real Estate
Most of us have been to a school graduation ceremony at which the featured speaker or honored graduate comments on how the ceremony, itself "is not the end of one's education, but the beginning" -and that's why they call it "commencement!"
The reason the theme of new beginnings is so popular in ... Views: 915
What does a great actor like Sir Laurence Olivier have in common with a great executive like Jack Welch? At first glance, not much. But if you look a little deeper, you’ll see that brilliant actors and gifted business leaders share many critical skills.
They command attention the moment they ... Views: 913
Loving what you do is a principle indication of happiness and general fulfillment in life. Many people, though, have no clear idea about what it is they love. Others, who know what they love, often do not consider their passions to be relevant to a job or a career. These people have a tendency ... Views: 904
A real estate developer I know said something interesting to me last week.
“Virtually all the foreclosed properties out there are single-family homes or condos,” he said. “If you can find me more than a handful of foreclosed multi-unit properties, I’ll eat my shirt. It’s because people almost ... Views: 904
How solvent is the community where you are planning to invest in real estate?
Some cities, counties, and states throughout the United States are incurring revenue shortfall. The results are usually the same: higher taxes and cutbacks in schools, libraries, street repairs, fire and police, and ... Views: 902
Business is about making money. It’s about the bottom line. The sooner you realize that it's not personal, it's business, the sooner you’ll make it to the top in the business world. I’m often surprised by people who think business is something else. They come in with lofty ideas and ... Views: 900
There are very few business opportunities that allow you to build wealth without paying taxes - and then subsequently pay reduced rates when the time comes to settle up with Uncle Sam.
Real estate, however, is a prime exception. Today I will focus on two strategies that can slash the taxes you ... Views: 898
One day back in 1997 my phone rang. It was Dr. Arthur Caliandro, the head minister of Marble Collegiate Church in New York. Dr. Caliandro asked me if I would be interested in writing his next book with him. We met, we hit it off beautifully, and I ended up writing not one, but two books with ... Views: 897
When history books are written, the year 2007 will probably be called “The year of real estate upheaval.”
First there was all the talk about the real estate bubble. Then came the subprime lending crisis, followed by a surge in the number of foreclosed properties hitting the market. Then just ... Views: 896
A first look between the covers of the soon-to-be-released book Trump University Wealth 101
Don’t make the all-too-common mistake, popularized in recent years, of thinking that your home is your best investment and that it will pay for your retirement. Your home may well be your biggest asset, ... Views: 894
What does it mean when someone claims his or her work is art? Some people actually do make their work into an art form. In addition to competence and real talent, their accomplishments stem from their strong belief that what they do is art. Raising one’s every day work to the level of art is, as ... Views: 884
Many people are surprised to learn that a retirement plan such as an IRA or 401(k) has the flexibility to own real estate. If you're one of those people, don't feel bad. You're certainly not alone!
Currently, more than 90 percent of all retirement plans hold nothing but “traditional” assets ... Views: 882
What’s happened to the economy has been likened to a tsunami as well as an implosion. When the undersea earthquake and subsequent tsunami hit in Indonesia in 2004, the world was stunned by the devastation that took place. It triggered earthquakes around the globe as far away as Alaska. It ... Views: 879
Is it a great time to invest in real estate? Or is it a terrible time?
Today and every day, those are difficult questions to answer. Some things are bad about the current market ... we’ve all read that housing starts are down and that there are many houses sitting unsold on the market. But we ... Views: 873
Even though the term Benefit Advantage may not sound too exciting, it is what you absolutely need to have to beat your competitors in the marketplace. It is the heart of your marketing strategy.
Your benefit advantage is . . .
The reason your customers should buy from you instead of from your ... Views: 871
Last week Levitt & Sons, the homebuilder whose Levittown developments were the emblems of America's postwar economic boom, filed Chapter 11 bankruptcy for reorganization - and its fate as a continuing business remains in limbo. Here's how David Streifeld in the International Herald Tribune ... Views: 870
tempo: the rate of motion or activity.
--Webster's Dictionary
I’ve mentioned before that when you’re the CEO of a company, it’s like being a general. You have to be in charge. You have to take responsibility. You have to instill confidence. It's also a bit like being a conductor, which is one ... Views: 867
“I hate the feeling that foreclosure opportunities are slipping through my fingers daily,” a young real estate investor named Joanne told me lately. “A few years ago, I knew just where to go to locate promising foreclosed and pre-foreclosed properties. But with the current explosion in ... Views: 867
You've heard the saying, "practice makes perfect." That's the central idea behind Trump University's educational mission, only we call it "learning by doing." Learning by doing, though, doesn't just mean practice (i.e. doing). It also means monitoring, gathering feedback, and adapting to what ... Views: 866
Money is great. Yet if you study the lives of very wealthy people, you will discover that very few of them started out saying, “My goal is to get rich.” Almost without exception, they were driven by a personal passion that was so strong, money followed as an afterthought.
Consider Tom Chappell, ... Views: 851
Critical knowledge from The 10 Golden Rules for Buying a Business
In my blog post of August 30th, I explained why buying a business can be the smartest step you will ever take toward becoming a wealthy and successful entrepreneur.
Today, I'd like to take the process one step further by sharing ... Views: 842
When people ask our Chairman Donald J. Trump to name the person who had the greatest influence on him, his answer is always the same. Mr. Trump always says that it was his father, Fred Trump, who offered him the greatest advice, encouragement and support. In other words, Fred Trump was a great ... Views: 842
Conventional wisdom holds that an Ivy League degree virtually assures success. But like a lot of commonly held assumptions, it's turning out to be wrong.
Consider "Route to the Top," Chief Executive Magazine's annual analysis of 700 top American CEOs. Of the findings in the latest 2004 survey, ... Views: 838
When most people hear the word negotiation, they usually picture stone-faced adversaries who glare at each other across a conference table and argue over every little point. That's not how I work. A better example is how I went about buying 40 Wall Street.
I was interested in acquiring 40 ... Views: 833
In his book The Seven Habits of Highly Effective People, Stephen R. Covey observed that a lot of our success is built on the small habits that we cultivate daily. That principle applies to real estate investing too. If you observe successful real estate investors and developers, you will see ... Views: 833
Want success on your own terms? Consider this unique path to success.
When prospective students call Trump University to inquire about our classes in entrepreneurship, our admissions counselors always ask, “What kind of business do you have in mind?”
Most often, the replies are like these:
... Views: 832
No person who is enthusiastic about his work has anything to fear from life.
--Samuel Goldwyn
If you see each day as an important day for your future and a special day just because you have it, you will be amazed at how productive and energetic you can be. It’s the best way to be at your best ... Views: 832
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***Jobs for Sale - by Richard Parker, Trump University, The Official Guides to Real Estate
I have never seen an advertisement that said "Great Jobs for Sale," and I bet you haven't either.
But if someone offered to sell you a great job, for a reasonable price, wouldn't you say yes? Imagine receiving the additional job benefits of having a new job with a healthy income stream that ... Views: 829
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 ... Views: 828
Winning strategies from The Real Estate Investor Training Program
Articles and news stories everywhere today are reporting the grim news that huge numbers of houses are sitting on the market unsold. And the problem exists virtually everywhere in America.
Make no mistake about it. Itis much ... Views: 827
Eye-opening financial wisdom from Trump University Asset Protection 101, the latest book from Trump University
Many of us spend more on taxes each year than on food, clothing, and shelter combined. Yet, amazingly, we really don’t know much about taxes.
If you’ve received a paycheck, you know ... Views: 824
Trump University President Michael Sexton interviews EJ Ridings, President of Trump Mortgage
Most people refinance their homes when they need a large sum of money to install a new kitchen or pay college costs. But there are right and wrong ways to refinance, as we'll learn in the following ... Views: 821
Is this a blip, or is it a catastrophe?
The way we handle difficult situations in life says a lot about who we are. How we view them is also an important element in how we will deal with adversity. Some events will wipe out one person, but will make another person even more tenacious. That’s ... Views: 820
How do the smartest real estate investors minimize their risks in uncertain times?
“Five Ways to Reduce Commercial Real Estate Risks” an article by Will Moore on Pacific Security Capital’s Website, offers some excellent ideas. Although the article is written from the perspective of a company ... Views: 818
We live in an exchange society. To receive you must be willing to give. As motivational speaker Zig Ziglar says, "You can get anything you want in life as long as you help the other fellow get what he wants." That's one reason communication specialists and marketing gurus alike consistently urge ... Views: 815
One fateful day back in 1979, Apple's co-founder, Steve Jobs, had a spark of intuition so bright it is still flashing across the screen of the computer you are looking at right now.
Jobs was visiting Xerox's Palo Alto Research Center, where he saw an experimental computer called the Alto. It ... Views: 814
Back in 1997, a copper pipe burst in the wall of one of my properties. My plumber and I tore the wall open. He patched the leak. I let the hole stay open for about a month before I closed it up again. I repainted the room and moved on to the next job.
Then a few of my friends started asking me ... Views: 811
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***Conquer Your Fear - by Donald J. Trump, Trump University, The Official Guides to Real Estate
History knows no resting places and no plateaus.
-- Henry Kissinger
History is relentless because it happens every second. In other words, no resting places and no plateaus. The same applies to business--you can’t rest on your laurels, you can’t become complacent, and you have to be ... Views: 808