Page 179 - Trump Never Give Up: How I Turned My Biggest Challenges into Success

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T R UM P: N E V E R G I V E U P

estate in the United States is a hot trend. Globalization has torn
down the barriers that have formerly separated the national
from the international markets and one result is that affluent
foreigners have been drawn to real estate in the United States. I
recognized this years ago, which he points out:

In New York, Donald Trump was a major factor in opening up
the city to foreigners. Most buildings in New York City had
been co-ops, and since co-ops can reject anyone for just about
any reason, they looked very carefully at absentee foreign pur-
chasers. But Trump opened condos, and sales of condos are
largely unregulated because they offer single apartments, not
share in a corporation. Now that most new buildings are condos,
foreign buyers are streaming in.

The important thing to consider is that more and more
there is an interdependence of world economies. No one can
afford to be isolationist anymore. For many years, many Ameri-
cans have had second homes in foreign countries, and now the
trend, as Penn points out, has hit our shores. This is nothing
new, but it’s relatively new to us. I think it’s a harbinger of
things to come, and when I first went with condos years ago, I
knew it was a timely thing to do.
My point is, I had been keeping up with global events for
years, and it wasn’t that hard for me to see this trend coming.
I’m not clairvoyant, but I take the time to be well informed. You
can and should do the same thing. Spend some time on interna-
tional events, read books, and keep ahead of what’s happening.
Catching up can waste a lot of time—having some prescience
can save you a lot of time. Keep your focus global and you may
very well find yourself ahead of the game.

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