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TR U M P STR A TEGI ES FO R R E A L ESTA TE

dramatic color rendering of the building as it would appear when ren-
ovated and sell this as the linchpin of revitalizing the Grand Central
area—which in turn was the cornerstone of the reconstruction of the
image of New York City. All he initially sought was the city’s ac-
knowledgment that this was a great idea coupled with a loose com-
mitment to cooperate in bringing it to fruition, if they got
everything they wanted. He never talked numbers with the key play-
ers in this deal until after he got an initial expression of interest and
support for his plan. He knew that talking numbers too soon would
give people a reason to say no to his plan. It’s a valuable lesson for
you to remember in any real estate investment of yours: Enthusiasm
(and focusing initially on the large outlines of a deal rather than the
financial details) can overcome many obstacles.

How Small Real Estate Investors Can Use Enthusiasm

The Hotel Commodore conversion was a huge project that took over
two years and 23 drafts of a complicated and intensely negotiated
ground lease to finish. But no matter what the size or complexity of
your real estate project, at various stages of the transaction you’ll
need to convince other people to help you, and do what you want
them to do. This takes enthusiasm and perseverance. Share with the
seller, your lenders, contractors, and others what you envision for the
property you want to buy or renovate. Tell a great story about how
you found it, what your inspiration was, and the difficulties you have
already overcome. Play up what you see as its best or most unique
features. Trump knows that people like to be excited. You just have
to find creative ways to excite them.
If you’re not enthusiastic, the people you’re trying to convince to
lend you money, sell you a property, or invest in your partnership are
not going to stick their necks out. But if you can tell a great story

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