Joel Teo asked:


If there is one lingering image of success in real estate investing, it is that of the charismatic Donald Trump. He is the icon of the highs, and lows, of the business of real estate. His rise from an intrepid investor to a billionaire developer holds out several lessons.

The sheer scale of operations of Trump could overwhelm us all. But, he did not attain it overnight. Sure, he had a legacy of real estate development, the Trump Organization, handed down by his father. However, he worked hard and brought in shrewd business acumen to enlarge his canvas of operations. His vision and commitment made him move away from the traditional strongholds of his father’s business and develop multi-million dollar projects with the high and mighty queuing up to grab a cherished piece of property.

There are a couple of lessons here for the retail investor in real estate. Whether one is clutching on a property for a few thousands or closing out with million dollars, the principles underlying real estate investment are just the same. Here is a quick checklist from Donald Trump’s life:

• Be convinced about the real estate investment before you set out to negotiate. Unless you carry your conviction, others who are part of the scenario would not share your viewpoint. Trump’s enthusiasm for the Grand Hyatt project from the dilapidated Commodore Hotel resulted in one of the best landmarks of New York City at a time when others dismissed it as impossible.

• Actively involve everyone who is a part of the project. The seller, broker, inspector, lender and yourself are in partnership trying to arrive at a deal that is beneficial to all. To ensure smooth completion of the transaction, communicate effectively with each one so that misconceptions are removed and the deal goes through without glitches.

• Do not burn your bridges. Keep your contacts alive through effective networking. Greeting cards, phone calls, messages and gifts are some of the methods to remind others that you are interested in upcoming projects.

Copyright © 2006 Joel Teo. All rights reserved.



Ted

mi_vitallife asked:


Please give specific date.

Douglas

Gary Gerasimon asked:


Has this ever happened to you? You’ve got your website ready to go. All you need is traffic. You turn on the computer and just stare at it.

What should you do first? You’re looking at the calendar - another day is passing - and you still haven’t made a dime. You’re on a limited budget. You can’t spend thousands of dollars on advertising.

Who should you call? Who can you turn to? Who’s got the solution to your traffic problem?

Donald Trump. That’s right. TV star. Billionaire real estate developer. The man himself is his own brand. But, c’mon now - Internet guru?

Donald Trump is a real estate investor. What could he possibly know about online classified advertising? At a first glance, apparently nothing. But let’s take a closer look.

I’m not a real estate expert, but I do know, like most people, that making money in real estate is all about location. You know the phrase: “Location, location, location”. We’ve all heard that before, right?

Let’s say you’re an investor and you want to buy a house in an area that’s literally in the middle of nowhere. The nearest shopping mall is miles away.

There isn’t a McDonald’s nearby. They don’t even have access to cable or the Internet - so you’re really “roughing it” now.

If you buy the house anyway, and there’s no development over the next couple of years in the area, can you expect the price to double? To triple? You have to be realistic. You have to buy in the “path of development”, or at least development that’ll occur in the near future.

The same is true with classified ads online. You have to place ads in high traffic areas where people search. Google’s pay-per-click ads are a great example of this. They are one of the most heavily visited sites on the Internet. Starting a Google ad campaign is a highly effective way to get targeted visitors immediately.

You want to look for websites with directories of places where you can place free classified ads. Check the website to make sure the links are working and that it looks professional.

There are also sites where you can pay for advertising. Sometimes paying a nominal fee can lead to more traffic than a free ad would, since you’ll probably get better exposure from an ad that cost you money.

You have to place ads in the “path of development”, just like the real estate investor who’s buying a piece of property. If you don’t, you’re just wasting your time.

There are sites you can go to which offer you huge lists of directories where you can advertise your site. I mention these sites in my free “truth about traffic” report at my website.

Another excellent way to place classified ads online is through ezines. Ezine publishers already have an established relationship with their subscribers and people read the material that appears in their inbox. This is a widely accepted, very targeted form of marketing.

And of course, offline classified advertising is another method to explore that can be very effective. All you have to do is go to your local bookstore and you’ll find many entrepreneurial magazines where you can place ads. It’s just more expensive and usually, you have to wait a bit longer to see your ads appear in the publication.

Just remember, location is the key. That fact has worked out pretty well for Donald Trump. And it’ll work for you, too.



Phyllis