Love him or hate him, there’s no denying Donald Trump’s success as a real estate investor. If you’ve flown into LaGuardia airport in New York, you might have seen his Gulfstream airplane parked there on the runway. Or perhaps you’ve walked down Fifth Avenue and seen Trump Tower—all 67 stories of it—along with some of his other properties. He owns several million square feet of some of the most expensive real estate in the world. So how did “the Donald” manage to get so wealthy from real estate investing? Let’s take a look at 8 top reasons:,
1. He has an incredibly disciplined work ethic.
Donald reports that he works seven days a week, putting in at least ten hours a day. He even claims to only sleep four hours a day so that he can keep an edge over his competitors. See - (realtors that buy houses for cash in Phoenix Arizona)
2. He believes in himself and his abilities and, no matter what happens, good or bad, the outcome is the same in his mind—“the Donald wins.”
His almost superhuman level of confidence has helped him bounce back from many real estate experiences others would have self-imploded over. Four of his businesses have declared Chapter 11 bankruptcy. Trump said, “I’ve used the laws of this country to pare debt. … We’ll have the company. We’ll throw it into a Chapter. We’ll negotiate with the banks. We’ll make a fantastic deal. You know, it’s like on The Apprentice. It’s not personal. It’s just business.” All successful entrepreneurs show a remarkable resilience in the face of events that others would consider failures. For Donald, it’s not about what happens to him, but rather how he reacts to everything that happens to him.
3. He’s a big-picture person who uses his talents to work on the strategic issues; he doesn’t get bogged down by the details.
This doesn’t mean he neglects the details—he is famous for doing random checks on the men’s restrooms in Trump Tower to look for puddles of water on the floor or washbasins that are anything less than sparkling. He hires the best professionals in the business to handle the details for him.
4. He is cost conscious and profit minded in the running of his real estate investing business.
While he’s famous for spending a lot of money to get the very best quality, he gets the best price that can be had and doesn’t waste money.
5. If you review all the key real estate moves he’s made in his career, the majority of them came at a time when it was not popular to make such moves.
In other words, Donald Trump zigged while everyone else zagged. He invested in depressed markets that other people were too afraid to even consider. He moves counter to the herd mentality.
6. He learned from a great real estate mentor—his father.
Fred Trump was an incredibly successful New York real estate investor, and he had Donald managing his first multimillion-dollar deal while still in college. Having a great real estate mentor to learn from and help you along the way will save you a lot of time and trouble.
7. Donald Trump never gives up.
No matter how many times someone tells him no, he only takes that to mean that he is that much closer to a yes. If he didn’t possess such persistence like us when we buy houses for cash, he wouldn’t have achieved such success. The highly complex deals he pulled together in New York City took many years and countless hours to accomplish.
8. He takes time everyday to improve his mind and knowledge base, never thinking that he “knows it all now.”
He continues to learn because he understands that if he doesn’t keep getting better, he will stop being so successful. All great people are perpetual students of their business and the world around them.