Donald Trump - Tv Reality Series
Has anyone heard about the new TV reality series that is being done by Trump called The Apprentice? The theme will be to have 16 guys and gals compete for a $250K/yr. exec job with Trump as their boss. It is supposed to air tomorrow (Thursday 1/8/04) at 7:30pm CST on CBS. Then move to Wednesdays at 7:00pm.
We may pick up some tips so please spread the word. I wish I could insert this in all forums. 
I have heard and very interested to see how it goes. I think they finally are on to something here.
Donalds father was a construction contractor and a pretty level headed type of guy. Most people liked him and considered him very fair and straight forward.
He did not think his son the Donald would amount to a hill of beans as he did not really want to learn the trades and his time was spent goofing off.
So guess what? When Donald started in he really spun as they say on top of the dish. His early moves and ventures were not too sharp and people were saying he would never be a mench like his dad.
Well guess what? Here he is hated and loved depending on what side of the contract you were on.
He has terrible taste in women, does not seem to see or desire true interior dimensions but is merely involved only in exterior dimensions. Real or Plastic he makes no nevermind.
His structures and buildings are similar, lots of show and glitter but true worth a bit short. Most of his contractual arrangements seem to generate into a series of rewrites as time goes on and the percentages change.
Now into Show Business for which he has had a craving for many years. I wish he would redo his hairpiece, drop the bully ploy and cop out on some of his manipulations of Atlantic City etc. Now there are some really great stories. the real stuff is worth hearing about and is truly fascinating.
There is a saying to educate your kid for sucess. Raise him in a Pawn Shop and have him spend time on the streets developing survival skills. Seems to work.
Cognitive Lucius
I think any real estate investor could learn alot working in a pawn shop for awhile!
what is the relevance of a pawn shop to Real Estate?
IMO his apartment was way too much.
It was as if you had bought a casino and decided to live in it.
Give me a 20K cabin in the woods over that place any day and give me the rest in cash.
kmaples,
I think what was meant by the above remark was being able to negotiate the lowest price with sellers and negotiate the highest price with buyers, which is what happens in a pawn shop and real estate.
John (LV)
The 1st episode of The Apprentice already aired last week. Very entertaining but based on this 1st episode it doesn't really look like that it is geared specifically towards RE or Investing for that matter. HOWEVER, you do get to see what goes on in The Donald's brain as he makes decisions and gives feedback on the contestants' actions. I recommend watching it.
I had a boyhood friend who owned a Pawn shop. He told me that customers often came in to his store and asked, "How much can you give me for this watch". He'd say $25 dollar. They'd reply $25??? I paid $300 for it.
His rejoinder was, "Sir, did you want to Sell it to me, or Pawn l it to me???
There's a lesson to be learned here.
kmaples,
where in every pawn shop I could get them in. The managers make great Bird Dogs.
Having owned a pawn shop, which included check cashing and title loans, you will definately understand where the word "Motivated" originated.
Number one a great place to find propeties for sale. The person who is pawning their lawn mower, a sure sign of a property owner who needs help.
Then knowing that pawn shops are a great place to advertise, my business cards ("I Buy Houses"
What do pawn shops have to do with
real estate as John LV, states the "power of negotiation" among many other things.
John $Cash$ Locke
My original thought was that you can gain an incredible amount of training/experience from any sales position in which you interact with the customer. But what I was overlooking was who the customer was and how they could benefit me as a employee and as an Investor. Thanks
Actually I thought the first episode was great. It didn't deal specifically with RE but marketing. I found myself critiquing the "Apprentices" such as what didn't/could have worked. So needless to say my creative juices were flowing.
Oh, I think the days have changed to Wednesdays now so check your local TV Guides.
[ Edited by fmmp on Date 01/13/2004 ]
kmaples,
You hit the nail on the head, very astute perception on your part.
Maybe I should write an e-book for your 105 about "Real Estate Investing & Pawn Shops". LOL
John $Cash$ Locke
Good idea John. A god book always come handy. Pawn Shops as prospect farms are one of the really talk about avenues and should certainly be documented in full.
: http://www.thecreativeinvestor.com/ViewTopic19612-26-11.html
And since this tread became less about Trump and more about pawn shop business, I would like you all to comment on another Trump topic (not the topic author
John,
That book is a great idea, my only request is to be one of the first ones to read it.
Some thoughts on Trump and the show.
Trump - good, bad whatever...
He was one of the first persons that made me realize that what you think about a situation isn't necessarily the reality of this situation, it is only a reaction to how you understand it.
Meaning - back in the 80's Trump was facing the worst days of his life, he was in debt up to and over his eye balls, everyone in the financial as well as tabloid press was second guessing "Is this the end of the Donald?"
Trump made a statement during all this that really opened my eyes to what you see on the surface and all the static being tossed around is just that, static, Trump was never worried, because he knew something that the media didn't -
That statement was something along the lines of "When you get into debt so large, it is no longer your problem anymore, it is now the banks problem." Meaning that he was so into debt with some of his banks that if he did go broke, they actually had more to lose than he did. This forced them to work with him and renegotiate his terms. In the end he was able to ride out the down swing and ended up leveraging everthing up dramatically as a result of the banks HAVING to work with him. The banks actually couldn't let Trump go broke! Unbelieable. He went from the publics perception that he would be on his knees grovelling at the negotiation table with the banks to walking in with his head held high and basically asking them "So fellas, what are you going to do for me to get us out of this mess?"
I thought there was a brilliant lesson to be learned from Trump, he was never not in control, even though everybody in the world was predicting he was doomed. I have applied that lesson many times in life, to always read between the lines in anything you hear or read in the media regarding business. The media rarely knows what is really going on and if you want to get on the inside of a deal the first thing to do is take whatever is being said and look how the exact opposite could be possible.[ Edited by The-Rehabinator on Date 01/15/2004 ]
In regards to the show.
I really like the idea that these guys are not playing a game as in other reality shows where the most you have to lose is the 1 million dollars. While the winner is only going to be paid 250,000 in salary, that is just a tiny payoff to what the winner could really win. If the winner is the real deal he will go onto to million dollar salaries and above for his career.
I was also just totally shocked at the men’s entire lemonade selling plan. I really am lead to believe there must have been some rules applied to that game that really hindered what they could do.
I could think of at least 20 places to go to in Manhattan where there would have been literally thousands of potential customers walking by every minute. There is no doubt that location would make or break your results and those guys could have closed their eyes and picked anyplace in Manhattan and been in a better one.
As for Sam, even though he was portrayed as a wild card, the guy who went over the edge, I thought he was the only guy the actually "got" it. Everyone else was concerned with cost/price economics, selling their product for $1 a glass. Sam was onto something when he realized that it wasn't about the quality of the lemonade or the size of the cup.
There were cameras all around, everybody in NY knows Trump and he is regarded as a celebrity. The idea that Sam just barely touched on was that it wasn't about you buying a glass of lemonade because you were thirsty, they needed to market the fact that they were competing for a job with Donald Trump and they needed to sell as much lemonade as possible, he was on the right track when he approached the guy about buying a glass for $1000 so he would have a story to tell his grand children, he just needed to drop the price and get people to pay whatever they wanted in order to help the men win the contest. I'm sure if they took that approach people would have forked over $20 a cup easily and actually helped them sell to other New Yorkers.
The guys just didn't get it. Even the women finally realized that it wasn't about the lemonade and were selling it for $5 a glass and getting guys to pay them just so they could talk to a pretty girl.
If the men don't stop thinking so linearly they are going to be in big trouble. Sam is a nut case, but he is thinking outside the box.
Lufos,
One of Donald's big sayings is, " if you're going to think anyway, you might as well think big."
The idea of using a pawn shop as a prospect farm, that's come out of the creative thinking here, is BIG THINKING, in my business.
"If there's a way to find a 'em, I want to find them." Thanks, Alan
fmmp
If you have a desire strong enough and collateral large enough (DT inherited FT's 4000+ rentals in Brooklyn) and few billionaires at hand who you can ask for money, you can become another DT. However, the backers would keep their (right) hand right over your collateral - at all time. When the market contracts, the hand contracts so billionaires never lose. Front office does.
Based on what I know DT is leveraged now at about 1:20, meaning his debt is about 20X larger then his net worth. if the RE starts going down again, there goes the collateral. maybe not, but that is how the large games are played. Unfortunately, we have to scrub the floor, where everything is just more difficult.
That man Trump; I remember the times when he was getting divorced from Ivana. She got the Trum Plaza Hotel that had bigger debt than the actual value. Monumental hotel thou and she kept it but DT gave the green light to collectors to go and collect Ivana's engagement ring. It was leased
Hey John! I'll help you write that book. Actually worked in a friends shop for awhile. I was going to defend my postion, but everyone else did it for me Thanks to All!
EUREO,
Thanks for the add'l info
Yeah, when I found out Trump was over-leveraged in the way that he is, what he was as a businessman to me deflated quite a bit. He has done many amazing things, but it is all just smoke and mirrors, isn't it?
People say his debt is higher than his net worth. HE HAS NO NET WORTH! He is negative $7.5bb in net worth. Um, seems like it is more important to him to be flashy than to practice smart business.
Forget it is DT for a moment. If it was your brother, sister or parent, or best friend and they said "hey, I'm worth $450 million now...but I also had to take out $8bb in debt to get there" would you think that is a smart business person?
He is living a luxury life, but it is a house of cards and smoke and mirrors, if you ask me. The bankers love him ,because he is on the treadmill in perpetuity, grinding it out, paying all that interest, and if he sold everything tomorrow, complete liquidation, everything would crash around him, and he'd have NOTHING. He lives like a king, but can never stop. That is not a life to me. Where is the passive income? To get up to zero net worth, he'd have to do a gazillion more deals, requiring more loans, so the bankers have this guy by the throat.
Also, I loved the show the first night, then last night it's all about the women selling sex and winning. It's so played out. Ah, the perfect TV show.
Sorry, but I don't buy DT or any of it anymore.
It is one thing if your assets are leveraged with financing and if you need to sell them, the loans will be paid off - a break even, worst case. But DT's situation is just out of control.
My 15 year plan as opposed to Donalds.
Payoff properties. Sell the bad ones. Keep the good ones. And keep on programming for TCI.
The thing you guys are missing in regard to Trump and his leveraging is that he is in such a different league then any of us that you can't use the methods you use to evaluate your wealth to evaluate his.
Stating that he is leveraged 20:1 or even 2000 : 1 doesn't mean anything.
You are taking it as a whole and the whole entirety of his investments are not all connected.
Where he maybe leveraged 1000 : 1 on some land, meanwhile he has a casino that is worth 500 million dollars and is free and clear or is collateralized for a percentage or earnings. The two properties are held by different corporations and have no financial ties. He could go belly up on land and still keep his casino. He has investment partners in banks and private money that hold as much risk as he does in a deal. His name and reputation alone bring the power to get the deal done and people with money are falling over themselves to take the risk in the deal while Trump can walk away un touched.
You and I can't operate on that level but you also can't apply the methods you measure your wealth with across the board to him, it isn't anywhere near the same.
Keep in mind what he does is similar to anyone here that preaches the gospel of leveraging their investments with subject tos and such where you use little money to control a property, it is just on a gigantic scale.
[ Edited by The-Rehabinator on Date 01/16/2004 ]
Don't hate the player, hate the game.
Hate the tailor
[addsig]
First I must admit that I have not watched the show, however with some of the excellent observations and comments made about DT......its seems he is a walking version of our Federal and State Governments........in debt over its eyeballs....but who cares.....we all fit the bill.
I dont agree with such principles nor do I admire or envy men that propogate same.
I think our country without a doubt is the greatest country that the world has ever witnessed however its downfall will be attributed to such irresponsibility.
Eventually the piper has to be paid....again its often at the expense of the tax payers. Have we not learn this from other fiascals our representatives and gotten us into........?
I agree with other commentators that see it as a smoke and mirror game.
I may never be as "wealthy" as DT but its more important that I teach those under me, epsecially my children, to be responsible in all walks of ones life.
I measure success in not what I aquire but what I can betstow upon others through God given principles.
There are plenty of examples on this site where people are able to make a nice living, sell products, services etc.and still maintain a positive net worth.
NC_Yank
So you don't see any good in the millions of dollars he has paid to our federal gov in income taxes, state taxes and permits.
The thousands upon thousands of jobs he has created from his casino to the guy sweeping the floors to the construction workers rehabing his properties, nor the millions of dollars in equity he has created for the property owners around his buildings, nor the millions upon millions of dollars he has poured into the NYC economy and real estate market?
I read a T-shirt on a girl that said :
"dont hate me because you think I am beautiful.....hate me because your boyfriend does"
I say more power to him...smoke and/or mirrors. Would you complain if you were him (except for the hair) or would you have just as much fun? I would.
_________________
B.G. & Wheeler D. LLc Inc. and Trust
(A division of: Half Vast Enterprises)
"Most american millionairs today (about 80%) are first generation rich"[ Edited by WheelerDealer on Date 01/20/2004 ]
Now I am impressed, You all see da Trump so well. None of you worship at his shrine and you recognize in him the slim facade lacking in substance. the slippery path on which he walks, a small down turn, a drop in perceived confidence and he will be in a rear guard action which might remove all of his assets. His Debtor/Creditor balance is way far out.
I always wondered what Ivana thought when she found out that her diamond that looked like a bed post knob was leased. Not once but in compounds. There were three papers on it.
Guys, you want a life like that? Not hard, it has no substance. I can name you over 20 similar careers as a matter of fact there are 4 of them rolling along out here in LaLa land. I'll bet from the quality of the prior postings you could name them.
Frankly, I think the Trump program is a kick. I think the elimination of the first one was right on. He belonged in the board room of a minor savings and loan.
I have a new respect for you all. Damned I thought most of you were like me when I was young. Greedy and socialy unbearable. I take it back. Yes most of you are Greedy and some I am sure I would not let my daughter date. Much less pet my cat. But I am beginning to see values in the Posters that I did not see before.
I like suprises like this restores my faith in the human condition.
Cognitizing. Lucius
There is a level in this Real Estate Business that you have to get through. Once you get thru and have a few assets, you can take a deep breath and then decide what it is you really want in life.
If you are investing to buy your freedom you may have already done so. Depends on your needs and wants.
DT just as in the 80's has the banks and investors on puppet strings.DT probably gets calls from his bankers daily to make sure he is still amoung the living.Do you?
Hi Rehab,
Big business paying big taxes.....I dont think so. A big sucessufl business pays as little as taxes as possible. (lol)
Casinos.......in states without taxes. lol
We have Philip Morris up the road.....you know the tax breaks they get every year.
Some will say that they stimulate the local ecomony......another joke.
Many of the workers live outside the local area.........why...because taxes are high....why....because the tax burden has been put upon the average local joe,
not big business.
I dont live in the city myself......why should I when the city administrators are too stupid to see pass their noses.
Lets look at Charlotte, NC....they are so taxed that they are now making up new taxes.......LIKE RAIN WATER TAX!
God makes it rain and then they tax the people because of such. Amazing the people pay it.
We can look at my neighboring city of Kannapolis, NC. Let see...we have had big businesses there too....Cannon Mills and likes. City bends over backwards for them.......fastforward decades later......what has happened to Kannapolis.......big business left, town never did prosper and in fact is poor if truth be known.
Am I against big business.....No. Am I against sucess.......No. I am against tax payers having to fit the bill for both corporate and social america.
I am not fond of taxes.....but as long as we live in a society that wants nothing but handouts...........our economy is doing nothing more than enslaving itself to others.......such as the DT of the world.
Imagine I came to you and said....I want to borrow $100,000.00. I then make bad business choices....loose the money and ask what you for more money to pay you back. Give me a break....all your doing is robbing the Peters of the world to pay Paul (yourself).
Government is no different........it makes ficticious money t and most people dont even think about the consequences. If I did the same thing then the Secret Service would arrest me and the courts would convict me.
Yes there are two sets of rules......DT has learned that and manipulates it to his benefit.......still doesnt make it right.
I am just amazed at the people that can worship such nonsense.
Crime is crime......weather it is white collar or blue collar............you just dont see 1/100 of the white collar criminals in jail.......why....because it is the white collars that are smart enough to make the basic blue collar worker believe the majority of the garbage they tell them.
NC_yank
This thread is going way off original topic, but I wanted to respond to your post.
I have always been amazed when people criticize big business and begrudge them for their tax breaks. It normally means that they are looking at the little picture instead of the big one.
Giving companies incentives to build and stay in an area is necessary for the long term health of most areas.
Thecompany must build new office space providing jobs in the trade industries. They then hire new employees who need homes, who must shop and get haircuts and buy cars, etc.
Spurring the local economy in multiple ways.
This is why they do it. They look at the total return on their investment in the community.
Lufos,
we "must" meet someday!
More show info:
http://compuserve.fool.com/news/commentary/2004/commentary040114.htm
[ Edited by fmmp on Date 01/21/2004 ]
Yank, now that I see where you are coming from, I'm not going there. WE are 180 degrees apart in regard to business.
I will say that if you think that Trump pays no taxes, no fees no money, well, I'm not going to say anymore because it will get insulting.
I would step into the shoes of that man in an instant. The business shoes that is. Would I lead the life he leads, no but would I like the success he has of course I would. I don't have the ability to fly around on private jets, I don't have a model on my arm 1/3 my age, I don't have millions of dollars of spendable cash at my disposal, I don't know the president of the US personally, I don't have my own TV show. Like I said would I lead the lifestyle he has or do what he does personally, probably not, but if I had his abilities, his resources I would not complain.
I admire the success the man has achieved in his life.
I don't admire the hair.
Hair club for men? Plugs? That comb over is disturbing to look at every time I see it.
Hi Rehab, MCL,
I respect your all's opinion........and as a businessman myself I have no problem with anyone making as much as possible......however government should not be involved in the financing of private businesses.
Government will never be sucessful in business because they answer to no one.........not even the public.....they just blame one another and make promises during elections knowing very well they cant keep them.
If any private business or bank want to give DT or anyone else for that matter, 100 billion dollars than more power to them......if DT or anyone else can cut a deal then good for them. My problem is when businesses go to the government to fix their screw ups (whitewater etc.)..........as I said before....we citizens are becoming nothing more than a big fat cash cow to be millked.....
And, rehab......I dont have a lady 1/3 my age but the one I have sure does look fine............I dont see the need of looking for any newer models...........lol.
(last part was added because she was standing over my shoulder)
Best Regards guys....
NC
PS. A yankee living in the south is hardly ever insulted.......but I appreciate your concern rehab.......lol
The-Rehabinator,
I think your boy Sam will probably commit suicide now that he has been fired. Did you see the expression on his face when Trump made the announcement?
FMMP,
Sam looked like a mass murder in the boardroom.... Too funny the football idea what was he thinking? Those girls know how to work their strong points. So whos next? I know I am going to miss Sam.....
As a profile, he is no different then any megalomaniac with the ego contesting Himalayas. To a profile like this, the appearance is 10X more important then the substance, therefore who cares about how deeply hi is leveraged, for as long as the money of the billionaires backing him up are safely invested and the appearance of the glamour is maintained. A prefect mariage the one would say.
Take Napoleon for example, he borrowed the money from Rothschild to wage wars, in the process making him super reach. Trump borrows to build Casinos and other Luxury monuments that reflects his ego too. Is there are difference between the true driving force? Not at all. It is always our own insecurities that makes us want to dominate others.
And whose fault is that those are allowed to exist as legends? Ours, because we adore to buy into appearance, overlooking true substance. Ours because we believe that the grass is greener on the other side. Just look at the nation's fascination with movie stars...
Anyway, to someone's disappointment our entire economy is over-leveraged at list 10 fold thanks to a good business relation between human Fear & Greed. As a clear proof, we have the fact that while our national GDP went up only 100% in the past 7-10 years, the volume of the Wall Street boards increased 10 fold. So how would you cal that? I call it Matrix.
I just saw the program for the first time on the 1/21/04. It's a total waste of time. I think there's more to be learned from watching Oprah.
omega, yes, you're right.
Rehabinator, no wonder you like Sam, you are like him, buying into the flash, etc. Even if he has different assets collateralized differently, at the end of the day, the guy is $7.5bb negative net worth - it is basic math. $450mm in assets - $8bb in liabilities = -$7.55bb in net worth. So what if his cash flow is positive and he can make his payments every month, his net worth his negative, and he is banker slave.
Take the numbers to Kiyosaki, and he would tell you. Why wouldn't you want to enjoy his lifestyle and have a POSITIVE net worth? I don't get it, nor will I try to anymore, though I respect you have a strong position on the matter.
I am glad Sam is gone, he is a total nutjob with his stupid football analogy. He just loves to hear himself talk, he is not based in reality, at all.
The girls jumping up and down shaking their boobs for a $10 discount on gold was the most pathetic thing I have ever seen. Maybe they would have gotten $20 off if they went down on the guy or gave him a lap dance, isn't that the next step? Sorry to the women out there, but pandering to a guy's shallow ego is not the way to do business or get ahead in life.
The show is not about business, it is about Trump's ego, his greed for power, and his lack of substance.
I respect the skill set he has and his ability to negotiate and put together deals, but it is a house of cards, and one shift in the economy, and it blows all away as all his billionaire bankers call their loans due and make him settle out.
He is a hampster on the treadmill, and the bankers control the switch - he is the puppet and THEY are the puppeteers, pulling his strings, ultimately. What a horrible, horrible existence, to have to work your tail off in debt enslavement until you are six feet under.
My three cents, Dave
NC_Yank - in regard to "however government should not be involved in the financing of private businesses. " have you ever heard of the SBA?
For that matter do you know what FANNY MAE is? - you and I wouldn't be doing what we are doing with out her and Feddie.
Sam - I thought for a second that he was going to come over the table clawing at THE DONALD's comb over! I think in his little brain there was a moment where he was walking the razor's edge and he was weighing the consequences of going away quietly or doing something crazy.
I predict Versa Corps first victory next week. They don't have any excuses now and should be energized to a victory, and the women might actually throw the next one on purpose just to get rid of that White house aid with the attitude.
Dave -", but it is a house of cards, and one shift in the economy, and it blows all away as all his billionaire bankers call their loans due and make him settle out. "
That is what all his detractors said and predicted in the 80s. He turned the tables on his creditors and they reluctantly had to become partners in his ventures who had more to lose than he did if they failed.
I have full respect for anyone who has lost more money than I will ever make and then made it all back again.
hI:
iI have enjoyed this thread so much that I have to put my .02 in......
The show is hilarious, but as a woman, I am ready to see Protege win without pulling the "sex" card. I have nothing against sex appeal, but it should never be used as a primary strategy in ANY 'business' situation. As for the men, now that Sam is gone, they should have no excuses...it will be interesting to see if they are up for the challenge.
As for DT: I don't know about all of you but financial FREEDOM is my goal. That means freedom from credit cards, auto companies, and, yes BANKERS. Leverage is okay as long as you keep it in perspective. I don't care if you are dealing with 1.00 or 5,000,000,000, more liabilities than assets is not good business. It's easy to get caught up in the perks and forget what the true definition of wealth is.......
But that's just my opinion..and how I plan to live my life--thank God I not responsible for anyone else's.
<IMG SRC="images/forum/smilies/icon_biggrin.gif"> [ Edited by results_one on Date 01/22/2004 ]
results_one,
From next weeks previews the ladies will have some issues due to selling their sex appeal and the men due to dishonesty.
The politcal consultant hasn't done anything wrong in my eyes thus far, she is just alot more aggressive and vocal than the other women & it seems to make her stand out.
[quote]
On 2004-01-22 20:29, The-Rehabinator wrote:
NC_Yank - in regard to "however government should not be involved in the financing of private businesses. " have you ever heard of the SBA?
For that matter do you know what FANNY MAE is? - you and I wouldn't be doing what we are doing with out her and Feddie. <IMG
This year, Fannie Mae celebrates its 36th anniversary as a private, shareholder-owned company......which helps explains its success.
SBA has never gave me a dime toward my business, and I am doing well without them.
My point is a constitutional issue in regards to what taxes are to be used for.
If anyone wants to voluntarily give money to support such programs then fine.
Its a different matter when I am forced to "give" money at the threat of jail time to help support programs thought up by mostly liberal do-gooders that havent worked a hard day in their life.
Last I checked there are plenty of LENDERS in the lenders section. lol
The less government we have in our lives the better we all are........and the less taxes we pay the more people will spend or invest in other areas of their lives.....which keeps the economy going without legally stealing me blind.
After all what is this site about......The Creative Investor.....thinking outside the box.....over 50,000 registered users that for one reason or another are finding ways to obtain their goal without government assistance for the most part.........I applaud them.
So we differ on this and layers of shingles........not bad. (laugh)
Snickers or Milkyway?
Have a good weekend!
NC
Fannie Mae - Federal National Mortgage Association is a congressionally chartered, shareholder-owned company. Key words are Federal and congressionally chartered - this is your government at work not private business.
You have to keep in mind the only thing that allows all those lenders to exist is Fannie Mae purchasing the loans they write, if not the lenders would have no money to lend again. Those lenders sell their loans through Fannie Mae and get their cash back to lend again.
That is your government keeping you in business by keeping a steady flow of cash available to lenders to fund our investments.
Snickers. But I prefer them cold out of the freezer!
Ironicallyl, I read in the business section yesterday that FM profits doubled.
Hi Rehab,
My info came from Fannie Mae itself, word for word on their website.
At anyrate, the more important stuff......................Snickers.....cold out of the freezer......you are 100% right.
Add an RC (royal crown cola for those that are missing out) put a bag of peanuts in the RC and a moon pie to boot.......... and life is good!!!!!!!!!!!
(smile)
A moon pie! I bet it is 50/50 the chance of people on this site that even know what that is!
A moon pie and an RC cola, now that is a sugar boost!
Quote:
On 2004-01-24 10:16, The-Rehabinator wrote:
A moon pie! I bet it is 50/50 the chance of people on this site that even know what that is!
A moon pie and an RC cola, now that is a sugar boost!
I remember but I was a "Big Town" and Pepsi person myself!
Man, am I getting hungry....
Quote:
On 2004-01-21 01:10, MichaelChandler wrote:
DT just as in the 80's has the banks and investors on puppet strings.DT probably gets calls from his bankers daily to make sure he is still amoung the living.Do you?
Yes I do! My mommy calls me everyday.[ Edited by WheelerDealer on Date 01/24/2004 ]
EUREO, Dave, NY Yank - you guys all stated something along the line of Trump had no net worth he is actually in the hole?
I just looked him up in Forbes and a few other financial sources and his net worth...
Assets - liabilities = net worth
... his net worth is estimated at 1.8 billion in 1991 and now about 2.5 billion.
What in the world are you guys talking about? This is net worth not some smoke and mirrors number. He ownes 18 million square feet of prime Manhattan real estate.
2003 - http://www.forbes.com/2003/10/28/cx_mh_1028billiemasks.html
2001 - http://www.forbes.com/2001/09/27/taleofthetape_9.html
This has really gotten off the original www.thread.If the economy goes south(lol). The Donald will not lose a penny of his personal wealth,his assets are shielded in trust,llc's,and www.corporations.Many are giving a lot of guf to DT having a 20:1 debt/equity ratio.We must remember that we are flourishing at this time because easy credit has many less wealthy individuals with similar D/E ratios.
Great show to bad it's up against American Idol. LOL
I caught it Saturday night at 8:pm CST also so I think it comes on 2x per week.
Did anyone see last nights episode? The two groups had to negotiate a purchase on an apartment, renovate it, and then lease it out.
I thought that they did a pretty good job, but there was no way they did all that work in just 48 hours. Or did they?
What were your opinions of the show??
I didn't see that episode but remodeling in 48 hours sounds a bit to quick to me.
Yeah, they painted the walls and mopped the floors. It wasn't a major rehab, more or less, it was your mother telling you to clean your room. There were 5 people working on the apartment, so it was doable.
The show kinda sucks if you ask me and remember, this is the general public watching, your not going to learn a bunch of creative things. It's designed to get you to watch to see who's going to get fired, not learn real estate. For what it's worth, it's survivor played in business suits.
Actually, I find it interesting and have learned quite a bit from the show. One can always improve on the mistakes of others or come up with ideas of handling a situation differently.
I believe it was 72 hours and with a group of their size seems possible. Booking the contractors on short notice would seem like the big challenge.
Did some of you see the interview with Donald Trump and his three children? I believe it was with Barbara Walters who referred to his kids as his "real life apprentices". His children stated that there were no options with regard to their behavior. They all seem very normal and focused to carry on in their father's footsteps. Donald stated that it is not likely that the kids just want to collect rent.
I have watched The Apprentice since the first show and it has become one of my favorites - until last night!
I have a hard time getting a contractor to RESPOND within 72 hours.
Didn't they make a comment that they paid this general contractor $1500 and something about him adding a kitchen???
Also, it is interesting how the first acceptable tenant showed up within 10 minutes of the deadline. And of course none of the tenants (client, customers, etc.) appear to notice the TV cameras.
I'm sure there are a lot of rules and other details we never see, but the "reality" seems to be slipping.
Frank
Well obviously they have to make it some what interesting.. Its all about editing.... I still enjoy the little drama rings going on.. Fun to watch in that aspect. Always wondering what there next task will be is also interesting...
FMoore-
The contractor didn't add a kitchen but simply put in new cabinets. This would not take long b/c the cabinets were not custom. I am the daughter of a former builder/construction company owner. This was all very do-able.
What I don't understand is why Versacorp's team manager, who has been in real estate 7 years, didn't do the negotiating. That just seems stupid. And the fact that Bill only negotiated for $50 more dollars?! Not too hot of thinking.
Who do you think will be the last one standing? Any favorites so far?
Quote:
On 2004-02-20 13:19, nebulousd wrote:
Yeah, they painted the walls and mopped the floors. It wasn't a major rehab, more or less, it was your mother telling you to clean your room. There were 5 people working on the apartment, so it was doable.
The show kinda sucks if you ask me and remember, this is the general public watching, your not going to learn a bunch of creative things. It's designed to get you to watch to see who's going to get fired, not learn real estate. For what it's worth, it's survivor played in business suits.
The lessons of life do not all trancend through REI. I would bet most of the people on this forum learned valuable life lessons in other trades or businesses before becoming involved in REI. I feel the show is more about teaching the importance of teamwork. And you are right it is survivor in business suits. But remember the law of the jungle the quick survive,the slow get eaten.
Well after 13 weeks it is finally over and Bill from Chicago won. I was hoping Kwame would win and feel he should have. Bill kept knocking the choice he made in getting an advanced business degree. I just feel Bill will be a flash in the pan and not last past his apprenticeship. I feel while Kwame may be more textbook would have been the better choice. But he let Omarosa cost him the job.
I think that Bill was the right man for the job. Giving a kid a race car doesn't make him an Indy driver...
MOst wealth in america is held by people with less than two years of college and for every year you go to school your chances of being a millionaire decrease exponentially (millionaire next door).
In my family I have two professors, and several degrees and yet I am by far the most successful.
Kwami went to school, period.... Bill took an idea and carried it through to build a million dollar company. Definately more in Trump's style. The 250K a year wouldn't be enough to keep me there forever or form the real motivation to be on the apprentice. I would much rather work for a year with "The Donald" as the mentor than have a Harvard MBA....
Therefore I must disagree that Kwami should have been the ultimate winner..
stockpro, I would disagree. I think both would have been excellent for the job.
"MOst wealth in america is held by people with less than two years of college and for every year you go to school your chances of being a millionaire decrease exponentially (millionaire next door)."
That is an average over the whole population. The top 1% is significantly richer than the rest, and most of the richest people in the world don't have a formal four year education. These people are either rich because of what their family did (inherited wealth) or they were smart enough to go to an excellent college and chose not to. The other day, Bill Gates was at my school and after his presentation, a bunch of friends and I were talking to him, and the greatest advice he said he had, and what he believes to be his biggest loss is a proper college education.
Just because most wealth is held by people with less than two years of education does not mean two years of education increases your chances of being succesful. The average person with a two year degree will earn significantly less than a four year degree. And those that succeed with a two year degree will do so regardless of their education.
I know some things I said above were not claimed by you exactly, but that is what I took from your post. I don't mean to take anything away from Bill, he is a bright guy, I'm sure, and I doubt I can do what he has done, but I think your post sends the wrong message.
Experience is an excellent teacher but do not undermine a solid college experience, academically and otherwise.
Clegg[ Edited by clegg on Date 04/16/2004 ]
stock pro, I agree with you.
I called Bill about 8 weeks ago. He has the best combination of drive, desire, street smarts, experience, creativity, logic, and natural busines acumen.
Kwame's "I just like to delegate to my teammates and let them execute" is total crap, and is a wishy washy way to lead, if you can even call it that. His version of leading is what he thought it should be, whereas Bill has led a company to enjoy revenues of multi-million dollars
Kwame was outstanding, but Bill was exceptional, and with needing to work on his anxiety in the heat of the moment AND his lack of trust that his employees will perform once he delegates the task (he was obsessively checking up on them too much) OR being able to better guage the talent that is working for him to know when he has to follow up more, are areas for him to work on, but we've all got work to do to improve.
The right person for the job got it, but The Donald now OWNS this guy. Corporate life is not for me, but I sure was happy for Bill, nice to see someone work so hard and accomplish such a large feat. Very inspiring, Dave
I think that regardless of whether or not you had a formal education or not if you have the drive and desire to suceed you will. That's just my opinion.
girlie,
I agree, as long as that drive and desire combines a thirst for self-education and action. You gotta love to learn!
Good Call Dave,
would pay more generally to the person with higher education.
Clegg,
I think your ooking at it fromt he viewpoint of a student. If you look to workfor someone else then I would agree that a slave/job position
And you are wrong about most wealth being inherited, it's not...
I started out to become a lawyer and through divorce etc took another route. My kid brother spent 104K on his education as a college professor that pays 54K a year if he works the holidays. When in Utah the local UPS driver earned more than every single professor except the dean of law and the med school professors.
MY brother is working right now to pay off student loans while I take a month and travel europe. The weather here in Poland is great and I imagine Prague tomorrow will be equally enjoyable.
Dave had it right, you do need to educate yourself in something. I read voraciously, attend seminars, and constantly try and learn that which will make me more successful.
My self education has led me to be a bank president, union leader, political candidate and has continued on in my present interest in construcion and real estate. I don't consider myself to be all that successful, I merely think I am "on the path to true learning".
An education is important, I am just not so sure that it has to be university based....
stock,
I still don't think one can undermine a college education. It gives you avenues to explore you wouldn't think of yourself. While you are obviously succesful and have done well, I would argue a four year college experience would have helped you even further, enriching your experiences and maybe teaching you a few things you had to learn the hard way. Saying an MBA would enable you to be a better 'slave' is not quite true....a Harvard MBA which Kwame held, is no certain sign of success. But looking at the Furtune 500 companies, Harvard MBA's are the CEO's of more than any other. Yes, they started out working for someone else, but its a different process in the corporate culture.
As for your brother, he chose that route. If he had chosen an alternate career (or major) he probably could have earned more. However, education is not a career path where millions are made. Without a passion for teaching, it is a very thankless job.
I hope you enjoy your time in Prague! I wanted to go two summers ago but my dad for some reason was not interested in Eastern europe. We ended up going to China!
When you get back, I would like to drop you a note as well, regarding one of the jobs you said you had...some questions.
At the end of the day, you may be right, I am looking at it from the viewpoint of a student, trying to justify the thousands I am spending here, but I truly believe it can pay great dividends, depending on what you do with your experience.
Regards,
Abhishek
Quote:
would pay more generally to the person with higher education.
On 2004-04-16 10:53, Stockpro99 wrote:
Good Call Dave,
Clegg,
I think your ooking at it fromt he viewpoint of a student. If you look to workfor someone else then I would agree that a slave/job position
And you are wrong about most wealth being inherited, it's not...
I started out to become a lawyer and through divorce etc took another route. My kid brother spent 104K on his education as a college professor that pays 54K a year if he works the holidays. When in Utah the local UPS driver earned more than every single professor except the dean of law and the med school professors.
MY brother is working right now to pay off student loans while I take a month and travel europe. The weather here in Poland is great and I imagine Prague tomorrow will be equally enjoyable.
Dave had it right, you do need to educate yourself in something. I read voraciously, attend seminars, and constantly try and learn that which will make me more successful.
My self education has led me to be a bank president, union leader, political candidate and has continued on in my present interest in construcion and real estate. I don't consider myself to be all that successful, I merely think I am "on the path to true learning".
An education is important, I am just not so sure that it has to be university based....
I will agree with you to a point. I hold a B.S. and M.B.A. from a small university in Alabama,and a J.D. from a private University in Alabama. But my real estate education came from my mentor who had a 6th grade education and at the time of his death in 1986 had an estate worth $150,000,000.00. Actually until his firing I was pulling for Troy who of all the contestants had the least formal education a high school diploma. I thought he was the most creative thinker of all the contestants.
Interesting conversation.....I don't think there are many ways to look at it...but if I were to choose, it would be bill also. The passion and desire alone will lend you plenty of success in the business world. I don't care if you have a Harvard MBA or not....Kwame was not the correct one. From my experience, an education only brings formality to the situation. It enables you to "label" something....such as for instance ....cash-on-cash returns. BUT COMPUTERS CAN DO THAT!!! You must possess the drive, fire in the belly passion and entrepreneurial instincts to lead an organization. My MBA was self-taught with a few textbooks and I can carry on a VERY intelligent conversation with a business professor any day of the week....AND GUESS WHAT? I am worth much more than him too. Those who have the patience to sit through an MBA program at Harvard just aren't entrepreneurs. Most successful graduates from Harvard become successful merely from contacts that they made from schooling. I have a 4 year degree and I can attest that it didn't do much for me but give me the ability to write and articulate more efficiently. THAT"S IT! I am sick of hearing....."Kwame was the right choice, he has a Harvard MBA!!!" HE TRIED TO SELL LEMONADE NEXT TO A FISH MARKET!!! What happened to practical application??? Bill is the right man....period!
Gentlemen, please.
You go to school if you are so inclined to educate yourself. The idea of degree accumulation to impress others is not the game. Some of the dumbest men I have ever met were vastly overeducated. The guy at Agency on the Albanian desk. Bags of degrees, could sing the Wiffenpoof Song straight thru. Could not speak Albanian, had never been there did not even know there were two dialects. Hated Sheep and handled a knife like he was cleaning his nails. Effective? No, Educated? Yes. I calleld him every scurvy name I could think of in Albanian and because I was smiling, he thought I was asking him to lunch. Yes, we did have lunch at the Cosmo Club. Boring!!
The Air Force at the end of WWII realized they had some heavy combat experienced pilots with no education so they needed to educate them in a hurry. They combed the Air Force and selected 250 officers. They went to Chicago and took an examination called the Hutchins examination for advanced standing. Depending on how well you did they awarded you time at university. I got three years university credit just for taking the examination. Then they made it possible to do the BA in one year and at the same time write your MA, and then expand that into a Phd. No big deal after all it is just a lot of writing and the subject matter tied and resting on your Military Experience. Which translates if you can do the work you can finish in about 18 months.
Most necessary to do this cause things were happening all over the world and they needed you back from the hallowed halls of knowledge. Also the armed forces were just getting into PsyWar and they had to get educated officers in to lead the program cause an awful lot of PhD's & MA's would be coming into the program. Sort of stupid to have all the leaders only High School Educated or at the most maybe a year or two of University. So they did it. Did they educate them? No. Did they get the degrees? Yes.
Education is for yourself. It enriches your life and gives you perspective. I do not really think it enables you to make money. Except that it gives you a small advantage as you can look back in History and see similar situations and their solutions.
In the present instance Real Estate, it is to some degree helpful but most of the heavies in this business are not well schooled. Most of them are self educated. Zeckendorff, McCarthy the hotel king back in time, back in Texas, Hughes, Snyder etc. etc.
Most of the machinations in Real Estate are not learned in formal schooling. They are learned by doing or hanging around with persons who are or have done the various methods. Also these methods are continualy changing.
I find myself out on the cutting edge of a new type of housing which will call for the introduction of all kinds of new and modified trades. The concept of land ownership in conjunction with this housing will also be changed. Coupled with that will be a new form of mortgage financing. Upon completion the house stands ready for occupancy and the mortgage is already in place with no requirement for qualification as the building marketing entity stands as first originator with no due on sale clause.
The building/marketing/servicing entity will have given the lender a full recourse agreement.
These concepts are new and will in time lead to a new way of owning real estate and of course change almost every aspect of it.
That does it. This should be an article. I will write it and I intend to ask for imput cause the finality of this plan is still incomplete. The TCI is the perfect place in which to implant it for its final fine tuning prior to implemation.
See I watch a program about der Donald and look what comes into being. Also I would like to take back my comments that he has lousy taste in woman. Yes it is true he had a real taste for dogs with a touch of haridan. But the young lady now in constant attendance is just about as fine an example of feminine perfection as I have ever seen. His taste in interiors is still reflective of the homes of very rich Saudis who the Brits rescued from the sand fleas so many years ago. But he is improving. I wish him well. Just wish he would advance up the scale far enough so that instead of saying You Are Fired, he could merely state, You Are Terminated.
Lucius 8-) 8-)
I recently looked up average earnings for Harvard MBA's and it appears to be 135K not bad for a job, I think it costs over 100K too not counting the undergrad experience.
My father is a professor as well as the brother that followed in his footsteps and he has always said that an education doesn't start or end at the college doors
Clegg,
How did you like China? my parents did two years volunteer work in a university near Beijing 4 years ago.
Randall
Yes, college doesn't determine success or failure, but it helps broaden you as an individual. It teaches you things you wouldn't consider. In the business world, it takes a lot more to succeed. That was my general point.
China was excellent, I actually happened to meet a few folks at a Starbucks in Beijing who were teaching there for a year or so. A couple were american and some brits. Interesting experience and they were friendly tour guides
Abhishek
it is incredible that trump can get this much attention, 6 pages guys.....wow. has anybody seen the assistant with andy dick, it's not a reality series but may be less boring than some reality shows if you know what i mean.
davehays wrote: Rehabinator, no wonder you like Sam, you are like him, buying into the flash, etc. Even if he has different assets collateralized differently, at the end of the day, the guy is $7.5bb negative net worth - it is basic math. $450mm in assets - $8bb in liabilities = -$7.55bb in net worth. So what if his cash flow is positive and he can make his payments every month, his net worth his negative, and he is banker slave
I was wondering are these figures the actually correct or just speculative, because i know from the recent forbes he is worth 2.5 billion. now i dont know how they come up with their figures but reading the N.Y. Post today J.P. Morgan just sold a office building in the wallstreet area for 500 million, i know DT owns 40 wallstreet and that would probably sell in the same ballpark. how exactly is it that he his debt to income ratio is so high? Appartments in trump tower sell for 2.5 - 15 million, if theirs 70 floors and 5 appartments per floor then you do the math. again my question here is how is it that you is so far in the hole which everyone is refering to? is it because he is only paying interest on his loans and is never paying them down? you would think all his assets have to be worth alot.
[ Edited by ZinOrganization on Date 07/20/2004 ][ Edited by ZinOrganization on Date 07/20/2004 ]