Trump says: Hooray for foreclosures
Trump University -- the real estate mogul's "world-class real estate and financial education" organization -- is coming to Baltimore next week to tell you that "Investors Nationwide are Making Millions in Foreclosures ... AND SO CAN YOU!"
Oh, the TU folks are also coming to sell you things. Don't forget about that part.
Tip of the hat to biz reporter Tricia Bishop, who noticed the full-page ad (complete with photograph of a flinty-eyed Donald Trump) on page 23 of The Sun's A section today.
Other words of wisdom from Trump University:
--Foreclosures "are the new 'it' investment."
--"But like all good things, this window into big-time wealth won't be open forever."
--"Investing in foreclosures could make you a millionaire by this time next year."
Comments
Hmmm, sounds like the mantra from NAR a few years back about buying real estate before you are priced out of the market. We're seeing how that is playing out. There but for the grace of God...
I'm sure there are good deals, but be ever cautious!
Posted by: CD | February 15, 2008 4:12 PM
Good advice, CD. Some of the homes being foreclosed on around here belong to investors.
Posted by: Jamie Smith Hopkins | February 15, 2008 4:14 PM
Do they offer postdoctoral programs?
Posted by: Einstein | February 16, 2008 9:45 AM
Actually, lots of foreclosed homes were owned by Realtors and lenders alike. Not all foreclosures are great deals. However, some are very much so. The consumer as always will need to be careful. I personally have purchased 3 in the last 8 weeks. 2 great deals and 1 ok deal.
Posted by: Mike | February 18, 2008 11:41 AM
I hate to say it, but Trump has a point. The explosion of foreclosure properties is both a crisis and opportunity, as there are suddenly thousands of homes available at bargain-basement prices.
Google Answers compiled a list of excellent resources for finding foreclosed (and pre-foreclosure) properties in local communities. You can see it here:
http://answers.google.com/answers/threadview?id=409719
Foreclosure and Preforeclosure Homes
It's certainly worth a look, if you're interested in exploring the possibilities, or even in simply seeing what's happening in your neighborhood.
Posted by: David | February 22, 2008 8:43 AM