Donald Trump Blog | Real Estate and Business Success Advice

The Home Buyer Tax Credit is Over....So Now What?

Posted by Tina Merritt on 5/17/2010 at 1:26 PM
Posted in Housing Market

Whether you agreed with the home buyer tax credit or not, it did cause a flurry of home buying and excitement within the real estate market. Now that it's over (except for a select few, see my post about those who qualify for an extension), what will happen to the housing market? Personally, I am not a patient, "wait and see" kind of gal. All I care about are my clients and what their properties are doing....right now. Yes, I keep an eye on trends and know when the good times are for selling and buying and when the bad times are more...

2 comments

REO Real Estate Investments Through Social Media Connections

Posted by Koz Khosravani on 5/5/2010 at 9:45 AM
Posted in Investments

There are many real estate investors who look into foreclosures as the primary method to make money in this economy. And these days, there are so many foreclosed properties out there that you can get lost just by having to choose from a whole range of distressed properties. One of the best ways to invest in foreclosures is to avoid the pre-auction stage and instead, buy properties with free and clear title after auctions, directly from banks and other financial institutions. These banks own hundreds to thousands of properties (internally known as non-performing assets) and want nothing but to take these more...

5 comments

Where to Find Government Owned Homes

Posted by Tina Merritt on 5/4/2010 at 10:07 AM
Posted in Real Estate

Finding government owned homes in your area is very easy and it's also free. Here is a handy list of the applicable websites: HUD Homes: http://portal.hud.gov/portal/page/portal/HUD/topics/hud_homes USDA Homes: http://www.resales.usda.gov/ VA Homes: https://va.equator.com/index.cfm? IRS Homes: http://www.treas.gov/auctions/irs/cat_Real7.htm US Marshall's Homes: http://www.justice.gov/marshals/assets/nsl.htm US Dept. of the Treasury: http://www.treas.gov/auctions/treasury/rp/ US Army Corps of Engineers: http://www.sas.usace.army.mil/hapinv/haphomes.html more...

3 comments

Sign Your Own Checks

Posted by Donald J. Trump on 4/21/2010 at 11:20 AM
Posted in Donald Trump

I like signing my own checks and not pressing a computer button. I have many friends who press computer buttons and often times they end up going out of business. I had one job that for some reason the pricing seemed very high and I was very unhappy with costs. I was not signing the checks at that job. I got very angry at the people running the job and ultimately said to them, “Dammit, I want to personally sign every single check.” The minute I suggested this, my costs went down automatically, without negotiating, by 15%. I guess they knew I more...

19 comments

New Lead Based Paint Rule Effective Thursday

Posted by Tina Merritt on 4/20/2010 at 3:53 PM
Posted in Current Events

Effective April 22, 2010, a new rule regarding lead based paint goes into effect. This new regulation, issued by the EPA, deals with lead-safe work practices and contractors who work in buildings with lead based paint. The new Renovation, Repair and Painting Rule pertains to anyone who receives compensation for working in residences built prior to 1978 and deals with any other the painted surfaces in the residence. Per the EPA website: The requirements under the rule apply to maintenance, renovation or repair activities where six square feet (about the size of a poster) or more of a painted surface is disturbed inside, or more...

4 comments

FHA Approves the Use of Electronic Signatures

Posted by Tina Merritt on 4/20/2010 at 3:44 PM
Posted in Current Events

On April 8, 2010, it was announced that FHA will now accept e-signed documents, including real estate contracts. "We commend FHA's action today. By clarifying its position on electronic signatures, the process of buying, selling and financing of homes across the country will be greatly improved," said Ken Moyle, chief legal officer at DocuSign. "Buyers, sellers and agents can use DocuSign's online process to eliminate the time, expense and environmental impact of printing, delivering and signing large stacks of paper documents, and mortgage lenders can take comfort in knowing that DocuSign's e-signature process is designed for legal compliance in all 50 states more...

1 comment

Can an Illegal Immigrant Buy a Home in the United States?

Posted by Tina Merritt on 4/20/2010 at 3:38 PM
Posted in Real Estate

With all of the recent news about cracking down on illegal immigration, I wondered what the laws were about undocumented immigrants buying homes here in the United States. Here is what I discovered: First of all, you do not have to have a social security number to buy or sell a home in the U.S. Some mortgage lenders require one; however, there is not a law requiring one. You do need to have some form of government issued identification, even if it is from another country (such as a passport or driver's license). Those without a social security number will need an ITIN more...

3 comments

The Brain Game

Posted by Donald J. Trump on 4/14/2010 at 9:35 AM
Posted in Television

It’s a well known fact that I not only develop golf courses, but that I am passionate about the game as a player. In fact, if someone had told me thirty years or so ago that I’d become a golf course developer, I wouldn’t have believed it. Today, my portfolio of golf courses stretches from California to the Caribbean to Scotland. Golf has been an important component in my success even before I became a golf course developer. I found solutions to problems, ideas for new ventures, formed partnerships, and learned new business skills. I learned how to maneuver, how to negotiate more...

13 comments

Home Buyer Tax Credit Extension for Some Military Members, Foreign Service Members and Intelligence Community

Posted by Tina Merritt on 4/8/2010 at 2:21 PM
Posted in Current Events

As the existing home buyer tax credit winds down (purchases must be under contract by April 30th and closed by June 30, 2010), many are wondering if there will be another extension. As of now, the only extension has been granted to certain members of the military, the foreign service and the intelligence community. For qualified service members who are ordered on a period of official extended duty, the tax credit dates are extended for one year. The purchase contract must be dated by April 30, 2011 and closed by June 30, 2011. Also, this extension applies to a service member who is forced more...

0 comments

A Great Example!

Posted by Donald J. Trump on 4/7/2010 at 1:07 PM
Posted in Trump Organization

Nearly twenty years ago, a young man started working for the Trump Organization as a driver and a security guard. He had a terrific work ethic, natural smarts, wit and an engaging personality that matched his unmistakable Queens accent. His name was Vinny Stellio. Over the years, he became a high ranking executive who was not only effective, but greatly admired personally and professionally. He was a terrific example of a Trump success story, and I was proud of his accomplishments and his dedication and loyalty to the Trump Organization and to the Trump family. In fact, my sons Don Jr more...

33 comments

FHA, Investors and Seasoning Issues

Posted by Tina Merritt on 3/25/2010 at 6:38 PM
Posted in Selling

As some of you may know, selling a property you have owned for less than 90 days to an FHA buyer has been virtually impossible for the past few years due to HUD seasoning guidelines. On January 15, 2010 David Stevens, the Assistant Secretary for Housing, waived the existing guidelines regarding the seasoning issues until February 1, 2011. To read the amended guidelines, here is the link: http://www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf Unfortunately, some lenders are not following these new guidelines and are still holding to the old with regards to FHA loan approvals. I recommend the following if you are in a situation where you are trying to sell more...

2 comments

Do YOU Have What it Takes to be the Next Apprentice?

Posted by Donald J. Trump on 3/24/2010 at 2:10 PM
Posted in The Apprentice

I am very excited to return to the original premise of The Apprentice. We’ve got to do something about the economy and this is a terrific way to provide jobs as well as business lessons along the way. NBC, Mark Burnett and I hope this economic downturn can begin a turnaround, and we’ll do our best with The Apprentice to see that it starts happening. I’m proud to be putting people back to work, and to positively changing the psychology of America. Therefore, we are proud to report that casting for The Apprentice Season 10 is now in full swing! Click here more...

17 comments

Rosie O

Posted by Donald J. Trump on 3/24/2010 at 12:57 PM
Posted in Current Events

I can’t believe that Rosie O’Donnell, after all her failures, is about to be given another shot. She’s crude, arrogant, and not very smart. She’s a bully at the highest level and sadly, other than me, very few people have hit her--figuratively--hard between the eyes--which is what you must do with a bully. Elisabeth Hasselbeck did and came out great. Ultimately, Barbara Walters did, but very light handedly, and nevertheless, remained the Barbara we all know and love. People forget that Rosie’s talk show was ultimately thrown off the air just as she quit The View after being beaten up by Elisabeth more...

16 comments

Checking Crime Statistics Before Buying

Posted by Tina Merritt on 3/24/2010 at 12:22 PM
Posted in Real Estate Investing

The majority of sellers and listing agents do not research crime statistics for their area. For the most part, the rules regarding disclosure of crime do not fall on the seller, but on the buyer to find out for himself. Unfortunately, most buyers and many buyer's agents fail to perform this very simple task. Crime statistics are public information and can usually be found on the local police department's website. If they are not, the information can easily be obtained by visiting the local police precinct. Another site which should be checked is the state's sex offender registry. This site can give you more...

3 comments

HUD's Good Neighbor Next Door Program

Posted by Tina Merritt on 3/22/2010 at 3:34 PM
Posted in Current Events

Law enforcement officers, teachers (pre-K through 12th grade) and firefighters/emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return, the buyer must commit to live in the property as a primary residence for 3 years. HUD also requires the buyer to sign a second mortgage note for the discounted amount (which is forgiven after all owner-occupancy criteria are met). The program's properties are generally located in HUD-designated revitalization areas. These areas more...

1 comment

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