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D'oh - This is written by a "journalist" without the slightest understanding of how self-financed real estate magnets work. What do you think Trump does with the $40.6m loan (write down) to himself? Doofus!
Pro-Tip: See income statement "Line 69"
scribd.com/document/41034…
Pro-Tip: See income statement "Line 69"
scribd.com/document/41034…
Ask yourself this one simple question. The "real estate" market collapsed in '07/'08 right?
How come Trump, who owns more real estate than anyone, grew his holdings during the collapse?
Self-financing has *massive* advantages both on corp income, personal income, and taxes.
How come Trump, who owns more real estate than anyone, grew his holdings during the collapse?
Self-financing has *massive* advantages both on corp income, personal income, and taxes.
Consider what Trump did with Trump Doral. A small purchase from a distressed seller. Self financed, upgraded, big write-offs (tax advantages) and now look at a single year of 2018 income. $75,000,000.00 from one property holding. See Line "64"
scribd.com/document/41034…
scribd.com/document/41034…
Trump has one Fifth Ave, New York, real estate unit. [Literally *one unit* in a building he also owns.] That one unit is worth more than Mitt Romney's entire wealth portfolio.
That's why banks always *want to* lend Trump money; and why he doesn't need it. His real-estate holdings are massive, stand alone, assets (with no debt).
He grew his holdings to a position where he can lend to himself. Then Trump LLC makes money on both ends of a transaction.
He grew his holdings to a position where he can lend to himself. Then Trump LLC makes money on both ends of a transaction.
Oh snap, I'm gonna pay taxes on the $75m from Doral in Miami. Hey Michael, we need $$ in Aberdeen? Lend 'em $45M, write it down as a loan to cover a loss in Scotland.
Repatriate the repayment over 7 years... How's the tax math now?
Repeat as needed.
Repatriate the repayment over 7 years... How's the tax math now?
Repeat as needed.
To be fair most financial journalists, at least the drive-bys, don't understand the difference in physical asset holdings -vs- business valuations.
In the new era people see Apple/Google/Facebook valuations and don't realize those values are not based on physical assets. cont...
In the new era people see Apple/Google/Facebook valuations and don't realize those values are not based on physical assets. cont...
Trump's wealth is "old school" it is based on physical assets; physical holdings.
New wealth, high-tech example, is based on paper valuations, predictions and sales of gadgets. There's no physical assets behind the valuation.
New wealth, high-tech example, is based on paper valuations, predictions and sales of gadgets. There's no physical assets behind the valuation.
If a tech company needs $$ they have to go to a lender. The lender's determination is based on the paper under the company.
Trump's value is based on real property, not paper.
Trump's value is based on real property, not paper.
