From Donald Trump - 25 Money Secrets

(Appreciation Second)

Data is historical; instinct senses shifts. When numbers say one thing but your gut says another, dig deeper. Often the gut sees what analysis missed. 25 Money Secrets From Donald Trump

A property that pays its own mortgage is safer than one you hope to flip. Monthly positive cash flow buys time to wait for the right exit. A property that pays its own mortgage is

Trump rarely buys a perfect building. He buys the "ugly duckling"—the bankrupt casino in Atlantic City, the old Commodore Hotel next to Grand Central, the swampy golf course in Scotland. His secret is the "value-add" flip. He renovates the lobby with marble, slaps a gold sign on it, and sells the story of luxury, even if the plumbing is old. He buys the "ugly duckling"—the bankrupt casino in

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He famously advises going into every deal anticipating the worst. "If you plan for the worst—if you can live with the worst—the good will always take care of itself".

One of Trump’s most controversial methods is the "retainage" strategy. In construction, you hold back 10-15% of a contractor’s fee until the very end . Trump holds it until after the end. He negotiates discounts after the work is done. His secret: Cash in hand is king. Pay as slowly as possible, collect as fast as possible. (Warning: This burns bridges, but Trump doesn't need the same plumber twice.)