Page 78 - Trump University Commercial Real Estate 101

TRUMP UNIVERSITY COMMERCIAL REAL ESTATE 101

sellers with more than one property to sell. They just don ’ t tell you
that up front.
They want to make sure you are a player who actually comes
through with your end of the deal. If you are and you do, as soon as
you close your first deal with them, they ’ ll often have another ready to

go! Even if they don ’ t have another one ready, when they are thinking
of putting properties on the market down the road, they ’ re likely to

call you first to see if you are interested.

Government Agencies

From time to time, even Uncle Sam might be a deal source.
As you know, the government has many kinds of guarantee and
subsidy programs to encourage commerce and growth. Sometimes
these deals go bad and a government agency takes the property back,
but doesn ’ t want to own it forever. That ’ s when they ’ ll list the property
for auction.
The Department of Housing and Urban Development (also known
as HUD ) sells commercial properties, among other types. One gov-
ernment site is www.homesales.gov . Even though it is called homesales ,
it also contains commercial property.
The U.S. Department of Agriculture sells similar real estate in
rural areas. Its site is www.resales.usda.gov . If you monitor these sites

regularly, you might find a solid deal.

Bank - Owned Properties

These types of properties are becoming quite widespread in our tur-
bulent economy.

What you do is establish a relationship with the person in the bank
who runs the Real Estate Owned (REO) Department or the Loss - Mitigation
Department . She will have access to the bank ’ s deals. Sometimes she ’ ll not
work with you directly, but will refer you to brokers whom she uses to sell
the bank ’ s properties. If you really work your way into the bank, it ’ s possi-
ble to become the go - to guy even before the property goes to a broker.

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