Love him or hate him, he is here to stay. Whatever opinion you may have about the most powerful man on the earth, it is admissible fact that with all the controversies and infamous activates Trump has been linked in past and today, we can’t deny his winnings as businessman and now as politician. Whether it is ill-famed beating in wrestling, Miss World contest,association with Casino business, sexual harassment charges from twelve women “so far”, tax scandals, or three failed marriages along with complicated relationship with current wife, whatever are the difficulties he faced he has always climbed back.
Talking about his dark side may take many pages, he is rude, arrogant and would be a disaster as president but still on grounds of investing strategies he stands firm and determined. In 1987, Trump wrote a book called “The Art of the Deal”, even book is not about real estate or investment strategies but still stay valid in investment as trump discussed 11 negotiation strategies which can be part of any deal specially real estate.
In this article we will discuss five of the Trump’s strategies which can be useful for investors while locking any deal.For our readers , we will try to validate his advice on real estate grounds
1-PLAN FOR THE WORST POSSIBLE OUTCOME:
“I always go into the deal anticipating the worst. If you plan for the worst – if you can live with the worst – the good will always take care of itself.”
Greed is worst enemy which reside within, mere fact is very much valid for real estate market where a perception prevails that investment will eventually pay off and greed adds more flavor to it, but keep in mind that not all investments in real estate always pays off. While calculating numbers never always associate positive signs with them. No one can see crises coming. Recent example is of business tycon Malik Riaz’s mega projects Bahria Town Karachi and Rawalpindi, where out of nowhere a profitable investment is now under the thick state of uncertainty, so like what the white old wiseman said, always deal by keeping the worst in mind.
To plan for the worst, what you can do is to
- Invest in different project or business/es– Invest in different housing project with reputable builders behind them.
- Invest spare money, don’t borrow –Keep greed in control, and don’t always look toward bright side, be ready for worst. I always strongly recommend to save some money and invest that money. DO NOT invest borrowed money. Wait if you don’t have enough right now. Learn from Warren Buffet famous saying “Do not save what is left after spending, but spend what is left after saving “
“I aim very high, and then I just keep pushing and pushing to get what I’m after. Sometimes I settle for less than I sought, but in most cases I still end up with what I want.”
As long as your risks are covered, aiming big will not harm you. You may devise a plan that I want to double my investment in 10 years but at the same time keep in mind that never put all eggs in one basket. Like I mentioned earlier invest in multiple businesses/ societies and direct your mind towards some out of the box thinking. Search for new ideas, areas where investment can grow rapidly (like some hot developing area). Currently Gwadar investment falls in this category. Such investment comes with risk but as long as it is calculated on realistic ground, it has potential to turn itself into a Jackpot.
So to truly thrive we have
- To let go of our self-imposed limitations like I can’t take that risk, I can’t do it, I am not capable enough, I will not be able to handle it, it’s too risky etc. Just get out of old limiting life patterns.
- Seek right kind of goals. Do not set wildly ambitious stretched goals to inspire yourself to greater heights. Aim high but setting at a little less than that should not sadden you
3-LOOK FOR THE BEST DEAL,NOT THE BEST LOCATION
Perhaps the most misunderstood concept in all of real estate is that the key to success is location, location, location… First of all, you don’t necessarily need the best location. What you need is the best deal.
Pakistan market perception is way opposite than this belief, people ready to pay extra, too much extra for location only, like a corner plot or plots facing parks or a area might be touched by some future motorway or road, most of time they even pay even more than market rate. Trump emphasized to look for best deal in ignored opportunities rather than location. Research available options and change your approach all together, find the best deals.
4-CONTROL YOUR COSTS
“I believe in spending what you have to. But I also believe in not spending more than you should”
Normally it is associated with your investment in some business. Improve Staff Quality, schedule Staff Efficiently, reduce Waste and Theft, schedule Staff Efficiently are some key ways to control costs in businesses. Imagine what if you could replace your lowest 10% of performers with new people that matched your top 10%? This would result in a huge productivity boost at virtually no incremental cost. If you are dealing in real estate investment make sure you are not over paying or your dealer is not taking too much money. In case of Housing projects, building material plays a vital role in your profitability , to have a competitive future property for sale , control cost from very start of project.
5-STAND UP FOR YOURSELF
“In most cases I’m very easy to get along with. I’m very good to people who are good to me. But when people treat me badly or unfairly or try to take advantage of me, my general attitude, all my life, has been to fight back very hard.”
Here are some tips that can help you stand up for yourself
So often, we hide behind a halfhearted smile and nod instead of saying what we think. It takes practice, but learning to be authentic and open about what you are feeling or thinking is the first step. Once you get in the habit of making yourself heard without being overly accommodating or defensive, people will be more open to hearing you.
- Start taking small steps to stand up for yourself. Even just learning to walk more confidently—head held high, shoulders back—will help you appear and feel more confident.
- Going with the flow for the purposes of not making waves actually creates more stress and anxiety for yourself. But facing the issue will empower you to make it better and diminishes the control it has over you. Remember, people can’t read your mind; if you don’t vocalize what is bothering you, no one will know.