Page 74 - Trump University Commercial Real Estate 101

TRUMP UNIVERSITY COMMERCIAL REAL ESTATE 101

Some investors try to save the commission by selling the property
themselves on the Internet. What fools. Don ’ t they realize they just
burned their broker relationship in that town?
Cultivate your brokers not only with commissions from deals, but
with good old rapport - building. What interests do they have? Send a
newspaper clipping. What do you have in common? Talk about that
on the next phone call. What kind of food do they like? Take them to
lunch at a restaurant which serves that kind of food. Stay in touch and
be a bright spot in their day. It ’ s one of the highest - payoff activities
you can do in this business.

Property Ownership Associations

Thinking about investing in a certain city? The first thing to do is
join the local property owners association. Not only will you get a
very good education, but you ’ ll get to know the other owners in
the city.
You ’ ll discover how business is done in that city — and it does vary.
You ’ ll discover who are the good contractors, attorneys, property man-
agers, and lenders. You will also get warnings about the little quirks
that every city has ( “ Watch out about the Building Inspector — he ’ s the
Mayor ’ s son - in - law ” ). This market intelligence will save you countless
hours of frustration, not to mention big bucks.
A bonus comes from the relationship you create with the other
owners. You will discover who buys what, and they ’ ll learn what you
like to buy. When the time comes to sell a property, they usually will
tell the other members of the association first. You may get deals before

they hit the market.
Want to get known by many members quickly? Become a leader in
the association. The fastest way is to volunteer to be on the board or
help the organization with events. The board members and the people
who “ made this all possible ” are usually recognized at the beginning of
each event. When you ’ re named as one of them, you will fi nd yourself
moving to the inner circle of that organization.

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