http://www.breitbart.com/article.php?id=D96ONQO00&show_article=1 read about this project this morning....actually read about it when they were doing the prospectus. fucking got owned...god damned, this cocky motherfucker...his apprentice bullshit and he's getting his ass handed to him right about now. wonder if his chicago project will fail too. pretty creepy to see half-finished condo tours....pretty sad in fact. this is particularly disgusting on several fronts...on both sides of buyer and seller.
Its kind of crazy, my parents got a condo out here in LA a few years ago....a few of the places they were looking at...some were "condo conversions"..meaning they were apartments being turned into condos.....a few of them actually turned back into apartments because no one bought them...pretty sad considering the remodels they had to go through to make them into condos...probably lost a pretty penny. I know a few people that were bought out of their apartments due to the owners wanting to convert them to condos to cash in on the real estate boom.
the whole scenario...you have a pitch room, then they meet with closers....they make a rash decision then they are ushered into the "celebration room". god, i'd never gone to timeshare programs but is this what they're like? half the people "buying" were probably planted by Trumps people to lower other people's guards. at least they got some free food?
Ouch. Losing $250,000 is no laughing matter. I may have overspent a little on some property I bought last summer, but this story helps me put things in perspective. I should be able to get back all of my money and probably more when I sell, but that couple is apparently out $250,000 and won't ever see it again. That's the kind of thing you lose sleep over and get ulcers from.
you set up a trust of some sorts for like 100 years and they renew automatically or something like that. canadian trust i think? something fishy like that.
Before the real estate went into the shitter, Trump and Co. was looking at Portland for possible Trump-development.
Maybe they should have looked at the previous companies trump ran into bankruptcy instead of a glamorous guy on a TV show.
nah, he's the ultra-premium brand for everything! class! gold! trump is so fucking tacky, what a shit.
I agree. I've seen a few episodes of The Apprentice and when he does those show-off tours of his buildings, it's clear that he has money but no taste.
