The Trump Blog

Babies in the Office

Fri, 16 May 2008 09:04:00 EST

Could you get much work done if there were babies in the cubicles all around you?

Apparently, that’s not as odd as it sounds. I read a story in USA Today that said at least 80 companies across the nation right now allow babies in the workplace. It’s an extreme - and somewhat controversial - example of how employers are trying to help their workers strike a balance between home and office.

Many of the companies allow parents to bring their babies to work until the children are old enough to crawl. They don’t leave the infants in office daycare centers, however. They keep them right at their desks. So the babies are there when the employees are talking on the phone with clients or meeting in the boardroom with managers and coworkers.

Many of those coworkers who don’t have babies are often not too happy about the practice. I imagine it’s not the most professional environment when there’s a baby crying or dirty diapers in the office. Plus, there’s always the fear that people with babies are getting preferential treatment.

I love children. But I can’t imagine a lot of work getting done if there were babies in the boardroom of the Trump Organization. It’s just not going to happen.

Donald J. Trump is Chairman of Trump University.

Stage Your Properties

Thu, 15 May 2008 10:10:00 EST

by Brett Carman

Whether your real estate investment is for sale or for lease, one sure way to get the highest return is to “stage” it properly. Doing this will paint the picture and imagery you want for your target audience and make them want the feel you have created.

Identifying your target audience is key. What demographic are you trying to reach? Are they “yuppie urbanites” looking at a condo or condo project in the city? If so, you will probably want to go with a modern and trendy look to stage the property. Use some contemporary furnishings and focus on the art and accent groupings. Be creative and also use style magazines as a reference to give you some ideas. If you are unable or unwilling to take on this task, consult your local area phone directory and look up “real estate staging”. If nothing, then check with an upper-end real estate agent in the area to see if they can give you a name or two.

Another important part of staging is “de-cluttering”. I am not really sure this is a word but it’s a word I use quite often. If the property you are marketing is occupied, then it is paramount that it is free from the clutter of daily living. You want to present this property in its ideal light. If closets are jam-packed, they will appear small and cramped. Most people already live that way and want to get away from it. Take it from someone who looks at properties for a living...prospective buyers get distracted by looking at your photos on the walls and refrigerators. They are so busy doing this that the voyeurism takes them away from taking “ownership” in the subject property and actually makes them feel like they are truly just a visitor peeking in on someone else’s life. Make a great first impression and then carry it on thru the entire property. They won’t have a reason NOT to buy!

Brett Carman is a seasoned veteran in the real estate industry for over 17 years. He holds active licenses in real estate, mortgage finance, and property & casualty insurance. Offering a one-stop shop for his residential and commercial clients, he strives to not only educate, but streamline the real estate acquisition process. With a long and proven track record of success, he is uniquely qualified and has a passion for helping people achieve their goals in real estate.

Live in Your Investment

Wed, 14 May 2008 09:27:00 EST

by Brett Carman

I am constantly trying to help my clients come up with creative ways to buy and sell real estate. When I get the type of client that I think would be interested, we talk about how a great way to get into real estate investing is to buy an income producing property that you can utilize for yourself, too!

Whether you want to buy a residential or commercial property, you can get more favorable bank terms by “owner-occupying”. The actuarial tables for projected default to the banks show that if you own property and are occupying it for your use, you are less likely to experience a foreclosure which in turn minimizes risk. The lower the risk, the lower the rate! It is not uncommon for someone to get a 2% improvement to their interest rate by occupying it themselves and then leasing out the leftover space or units.

Duplexes and fourplexes are popular residential conduits for this type of investment. Find yourself one of those at a bargain and you will be on your way. As far as commercial properties go, I think small office condos and retail strip centers are ideal. If you own a retail store and have a couple of years in business, it’s pretty easy to obtain an SBA loan with low down payment and a great interest rate. Do your homework and discover what the anticipated rents and hold times will be before buying. If you do a good enough job in negotiating, you could likely be living rent free for yourself!

Afraid to Buy

Mon, 12 May 2008 10:33:00 EST

by Donald J. Trump

It’s hardly a surprise but in the midst of today’s terrible economy and the nation’s housing crisis, the majority of Americans say they don’t plan to buy a home anytime soon.

In fact, more than a quarter of homeowners worry that their home will lose value over the next couple of years, and one in seven mortgage holders are afraid that they won’t be able to make their monthly payments in time over the next six months.

People are worried that housing prices will continue to fall which is good news if you want to buy but obviously terrible if you have a house to sell.

In addition, we have record-high foreclosure rates and an estimated 9 million homeowners actually owe more on their homes than they are actually worth. If you’re in that situation, the best thing you can do is to sit tight if you can and try to weather out the storm.

If you’re one of the fortunate few who is looking to buy, you could hardly be in a better position. Shop around, find a house and make an offer. Chances are, any good deal will get accepted and if you have decent credit you should be able to get financing.

I think the housing market is going to get better and it’s going to get better fairly quickly. The market is depressed and that’s when you want to go in. So if you have the money, now’s when you want to go out and buy.

But that’s just my opinion. After all, what does Donald Trump know about real estate!

Donald J. Trump is Chairman of Trump University.

Another Reason to Get a Good Education

Fri, 09 May 2008 09:39:00 EST

by Donald J. Trump

I’m always talking about how important it is to get a good education. I’m a big believer in going to a great college and getting a good degree because of all that it will do for your career.

Well here’s another reason to get a good education. Researchers at Harvard University found a stunning correlation between how long people live and how long they go to school.

Over the past decade, people with at least one year of college increased their lifespan by at least a year and a half. But those with a high school diploma or less gained only six months.

It doesn’t matter if you’re male or female, white or black. The better educated you are, the longer you live.

The reason is because education changes the way we see the world and ourselves. The more educated you are, the less likely you are to engage in risky or unhealthy behavior...such as heavy drinking, smoking, doing drugs, even wearing a seatbelt or having a smoke detector in your house.

Obviously there are people with doctorate degrees who are overweight and drink and smoke too much and may end up dying way too young. Sometimes even a good education can’t stop people from doing stupid things. But hopefully, those people are the exception.

In general, if you want to live a long life, stay in school.

Donald J. Trump is Chairman of Trump University.

5 Tips to negotiate the highest return in selling real estate

Wed, 07 May 2008 12:34:00 EST

by Brett Carman

You make your money in real estate when you purchase it. In other words, it’s extremely important that you shrewdly negotiate to win when you buy to give yourself the highest return on real estate when you sell. To do this, follow my 5 simple negotiating tips and you should succeed.

Don’t fall in love - Treat your purchase as a business and check your emotions at the door. Use your head rather than your heart because this will keep you from buying at any cost. If the deal makes financial sense.
Don’t just low ball...validate - When submitting an offer which is below what the seller is asking, make sure you have data from comparable sales and a detailed spreadsheet of expenses you will incur (if any) to make the property fit your needs/wants. By doing this, you show the seller that you are not trying to insult him and that you have done your homework.
Leave room to move - I usually like to “ask for the moon” knowing that I most likely won’t get it. In doing so, you can show the seller that you are letting him win too by allowing him to negotiate your price UP from where you started. You may be surprised what a seller will do to keep you in negotiations.
Negotiate closing costs - In addition to purchase price, you can ask for other concessions from the seller such as getting them to pay some or all of your closing costs. Some sellers feel better about paying these costs rather than accepting a lower price. Maybe it is so they can say they got a higher price to their friends/family. It all boils down to their “NET” anyway but this seems to play on their ego quite often. Also, another negotiating “chip” you can use as a sacrifice to show the seller that you are trying to work with him.
Motivation - Always try to find out why the seller is selling. Is it a distressed situation? Pre-foreclosure? Divorce? By learning this valuable piece of information, you can get inside the seller’s head and therefore better appeal to his wants/needs. Maybe it’s just a quick close date they need to get to your price so be sure to get your financing in order before starting to look so you can be ready to move quickly if the need arises.

Be your future...

Tue, 06 May 2008 10:01:00 EST

by Michael Sexton

Do you love your job, your boss, and all of your co-workers? If not, you are probably not among the ranks of the self-employed.

Self-employed individuals are passionate about their business and work tirelessly to make it a success. When you work for yourself you are not concerned with the time clock and could care less about how many hours per week you are at the office. You do this because you are expending time to grow YOUR business. Make no mistake, you WILL be working more, not less, than you were before. When you aren’t working “in” the business, you will find yourself working “on” the business. It will likely keep you up at night and occupy your free time so you can figure out ways to grow and compete in your industry.

How nice would it be to not have to tip-toe around a boss who doesn’t appreciate your efforts, take credit for your successes and pass blame for his/her mistakes? I will tell you...it’s completely liberating! Every morning you will wake up with only one to please...your customer! Your only focus will need to be on how to attract more and make the ones you have happy enough to come back to you. It sounds easy enough except for the fact that everyone else in your industry has the same game plan. That’s the beautiful challenge in it. You must use every ounce of your creative being to make your company prosper with only you to take credit for the wins or blame yourself for the losses. I would bet you don’t get to do that on your day job now.

Another important decision to make is with whom you decide to surround yourself to help make your company operate. In a small company, it is imperative to have superstars! The reason is because that person represents an enormous fraction of your company as a whole and you can’t afford to expose your customers to “average” or “below-average” support staff. If you can’t find a superstar, then hire a “temp” or do the work yourself till you do. It’s hard to get customers and even harder to get them back!

I encourage you to figure out what it is in your life you want to be when you grow up and then grow up. Do your research carefully and then create a job for yourself. It doesn’t have to necessarily replace your current job at first. You can start some businesses in your free time after work until you can support yourself enough to resign and start your career.

Michael Sexton is President of Trump University.