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Donald Trump: Fathers
built 224 days ago
During his college years, Donald Trump and his father decided to purchase an apartment complex in Ohio which was in bankruptcy. The purchase of this complex is striking because they obtained financing above the purchase price so they could do the necessary remodeling to the run down complex. The development purchased by Donald Trump with his father’s aid was called Swifton Village, a 1,200 unit apartment in Cincinnati, Ohio. It was purchased at a foreclosure sale for less than $6 million and sold within a year and half for about $12 million dollars. Without a penny of their own invested they were able to turn the apartment complex around by taking a strict approach at rent collection and by remodeling the appearance of the complex. Trump was able to see how the government would assist buyers in purchasing property with little or no financial backing.
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After gaining the necessary business skills in real estate from his father, Donald Trump moved into the Manhattan real estate scene. He went on to acquire some of the most exclusive properties in the city. Trump Casino, Trump International Hotel, Trump Marina Hotel and Casino, Trump Taj Mahal Casino Resort and Trump Tower are among his prestigious portfolio of real estate properties.
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Donald Trump grew up assisting his father in his business ventures. Trump had a very comfortable childhood and was sent to a military academy where he learned discipline and completed his middle education. In military school he learned the true meaning of competition and how aggressive you must be to get what you want. While assisting his father Trump realized he did not like the rougher aspects of his father's business. Some of the jobs he did not like included rent collecting and the physical labor involved. Trump had a great interest in real estate and decided he would like to be involved in the Real Estate business but at a larger scale than his father had ever been.
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