Subject: FW: TrackerBASE Report: PRES Donald Trump: How to Build a Fortune, Audio Disc 1 (Clips G-L) 3/17/2016
From: "Sorbie, Sean" <[email-masked]>
To: Research_D <[email-masked]>
Date: Tue, 17 May 2016 12:51:51 -0700

________________________________
From: American Bridge Tracking
Sent: Tuesday, May 17, 2016 3:51:47 PM (UTC-05:00) Eastern Time (US & Canada)
To: TrackerBase Tracking Reports
Cc: Bill Chan
Subject: TrackerBASE Report: PRES Donald Trump: How to Build a Fortune, Audio Disc 1 (Clips G-L) 3/17/2016

Tracker Event Debrief Form

TO:  PRES Tracking

FROM: Bill Chan

Location: Trump University

Date:  05-17-2016

RE: Donald Trump: How to Build a Fortune, Audio Disc 1 (Clips G-L)

_____________________________________________________________

Event Details: The 1st disc in How to Build your Fortune. Disc title: "Trump on Wealth". Audio Business courses from Trump University. Copyright 2006

Summary of Event: Trump talks about his great deal making and offers platitudes on business and negotiation. Has a fake story about a wife hampering her husband’s ability to negotiate and also talks about how he sometimes like’s causing problems for people and making their lives difficult.

Key Points:

Clip G:

Advice on assessing a real estate deal?

00:10 DT: Location is always important. Location, location, location. Every tells me that and they aren’t even professionals. If I have a choice between a great location and a great developer I go with the developer. If you have a really good developer and an ok location, I take him over the great location and someone who doesn’t know what they are doing.

Career advice?

01:02 DT: Largely it’s instinct. Knowing the time to buy is when things are bad, when things are good it’s time to sell. But usually there’s nothing wrong with holding.

Clip H:

Where is the best place to buy real estate?

00:08 DT: It’s not that easy anywhere. I’m doing a big building in Chicago, it’s doing great. Everyone knows about New York. I’m doing a tremendous job in California, 2 miles on the Pacific Ocean, Trump National. If you feel the market is reaching the peak or reached the peak I don’t think there are too many places to go in the country. Real Estate is a very local business, but on a global sense you can make a lot of money. If interest rates stay the same, I think real estate prices are going to go significantly higher.

How you minimize risk on new ventures?

01:36 DT: Know what you’re doing. Know the market. I’ve done deals I knew there was virtually no risk. Biggest thing I say is knowledge. If you have knowledge you can really minimize your risk. Knowledge comes from experience, and Trump University for example. Having knowledge is the key ingredient to being successful and making money.

Residential or commercial?

02:30 DT: I do both and I like both. Depends on how you’re inclined. Both are risky and rewarding. Depends on your mindset.

03:02 DT: There are people that would find owning an office building not exciting but they like residential, seeing families move in…

Clip I

Ability to negotiate, why so effective?

00:06 DT: If you’re not a negotiator best thing you can do is learn. But the negotiating experience can be honed. If you don’t have any ability to negotiate I don’t think you should be on the phone right now. It’s like a great golfer or baseball player, a lot of people are naturally great. Many people can learn to be great. But some people can’t learn to negotiate. Two weeks ago at a store and the person wanted to buy something and the man’s wife was incensed that he was negotiating the price because she loved the item so much. How does he negotiate when she’s jumping all over him? I felt badly for him. It was an interesting situation. Clearly she doesn’t have it or she’s spoiled, it might be the latter.

01:40 DT: I feel like a jerk if I don’t haggle. If you don’t go in and negotiate, there’s no reason for it. It takes you seconds and a lot of times people expect you to.

02:13 DT: I advocate a smart approach. You don’t have to be a killer, you have to be a smart guy. Intelligence and understanding the art of negotiation is key. You don’t have to be brutal, tough, weightlifting football player to be negotiator. I’ve met many really tough, really crude animals who were outnegotiated by the nice guy down the street.

Do you keep your cards close to your chest?

03:30 DT: Really depends on who you are negotiating with. All kinds of people. Sometimes you should kill them with kindness, sometimes toughness, always with smartness. Do they need this deal, do they have the money. You can put yourself in the other person’s situation.

04:22 DT: I’m stubborn in negotiation. I like to have alternatives. A friend worked on 1 deal for 2 years. You should be negotiating 10 deals at a time. You pick the best 1 or 2. You shouldn’t devote 2 years of your life to 1 deal, the other side knows that and they have you.

Clip J

Naming right price?

00:09 DT: Real estate can go for 20% of what you think it should go for or 5 or 6 times more than what you think. Cars, real estate, it’s all tough to value. I like to start at an extremely low number. Sometimes they take it. If they take it too quick I think, oh man did I make a mistake? This is a question we delve into deeply at Trump University.

Never be the first to name a figure?

01:30 DT: I disagree with that. I feel that you should throw the figure out and it should be so incredibly low that it sets their sights lower. You put it out there. I was giving numbers so low, now it’s in their head. If they want $50m and you put out $25m, it gets in their head. So I think you should put out the first number and it’s extremely low. Generally speaking that’s the way I like it.

How to move from $1m deals to $100m deals?

02:43 DT: Show a great track record. Let banks know, ideally the larger banks, the track record. What I’m doing is telling people I do a good job. If you don’t say it, maybe no one else will. When banks see records of success, they will go along with you. At this time, they want to loan money more than you want to borrow it. You have to be ready to borrow $100m rather than $1m but the payoff will be higher.

Own approach changed over years?

03:40 DT: I don’t think much. Maybe a little more conservatives. I owed billions in the 90s. I’m the largest developer in NY, I don’t think I’m much different. Maybe slightly more conservative.

Clip K

Never quitting…sometimes the going gets tough…what other advice?

00:24 DT: I’m not a believer in quitting but every once in a while you have to be able to leave something. I don’t want to quit. I might go to something else. Never ever quit, but sometimes you have to get off the road. You have to be able to see the path. All of the sudden the economy changes, get out fast. I’ve seen deals that looked great then the stock markets down, I say sayonara. Never give up in the big picture or small picture but every once in a while you have to take a detour. Lombardi said I never ever lost a game, but sometimes I ran out of time. Every once in a while you have to drop back and punt. The theme of your life should be never quit and certainly never easily.

Clip L

You’ve face challenges…when something problematic comes your way what do you look for first?

00:14 DT: Problems are amazing they can be signs like a stop sign. Great successes are people who can take problems and make assets of them. If you can’t do that you probably shouldn’t be in business. It’s not always smooth sailing. If you can’t be a strong, staunch problem solver perhaps you should be working for someone else. You’re probably not very entrepreneurial.

What if you’ve made a mistake?

01:13 DT: Sometimes I like being the cause of a problem. Sometimes I like causing problems for other people. Sometimes I like making life very difficult for other people. Then you get some of the assets you’re looking at. Problems are assets in disguises in many cases. If you don’t like problem solving, perhaps you shouldn’t do what we’re teaching at Trump University.

Digitized Video File Label: 160317_JEG_654

Clip Labels: 160317_JEG_654_G

160317_JEG_654_H

160317_JEG_654_I

160317_JEG_654_J

160317_JEG_654_K

160317_JEG_654_L