4 Things You Can Learn From Donald Trump About Buying Property

Before becoming the 45th President of the U.S., Donald Trump was already popular for being a real estate tycoon. His father, Fred Trump, was also in real estate and owned supermarkets and apartment buildings. The former president is known for having an excellent real estate portfolio that includes Trump Tower and Mar-a-Lago and has often been hailed as a visionary investor. 

George H. Ross has also written a book titled, “Trump's Strategies for Real Estate: Billionaire Lessons for the Small Investor,” to highlight his key strategies. Here are four key lessons you can learn from Trump's investment strategies, according to a Yahoo report:

Paying Premium For Prime Location Is A Good Idea

Trump doesn't shy away from paying a premium if the property is in a prime location, because he believes that return can make up for it. For instance, when the former President bought Trump Tower, it was outdated, but today the property is one of the most famous skyscrapers in the world.

Don't Buy A Property Just Because Its Cheap

Trump doesn't think there can be any good price for a wrong property. He likes to add value to the investments he makes in real estate, and thus, the quality and potential of the property are crucial.

You Need To Have A Vision For The Intended Property 

Again, let's take the example of Trump Tower. The other real estate investors only saw the two-story building, he had a grander vision. Trump famously bought "air rights" to ensure no other developer could build a taller building there.

Undervalued Properties With Growth Potential Is The Key

Trump's track record shows that goldmines are marginal areas close to successful locations. Before investing in real estate, a person should research whether their investment in the property keeps up with the changing times and inflation.

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