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Re:St. Louis office tower lost 98% of its value by orionblastar on Monday April 15, 2024 @10:56PM (#40047950)
It most likely needs maintenance. It needs fixing up. This is a deal that Trump used to get on condos.
Re:St. Louis office tower lost 98% of its value by bdjsiqoocwk on Tuesday April 16, 2024 @04:39AM (#40049671)
I'd like to hear more about this. Trump used to buy what? Abandoned condos?
Re:St. Louis office tower lost 98% of its value by orionblastar on Wednesday April 17, 2024 @12:59AM (#40060598)
Trump would use his father's $1M loan to buy condos that were undervalued because they were old and in need of fixing. He'd pay people to fix it up and paint it and turn around and flip it for more money. Then with the money he made flipping condos, he started to buy hotels and casinos and made his billions. Of course, he had to eat the costs sometimes and file bankruptcy but he never gave up until he was successful.

My son is learning how to flip houses, a lot of people do this, pay to fix them up and then sell them for more than they bought them for.

Re:St. Louis office tower lost 98% of its value by justadolphinnn on Tuesday April 16, 2024 @05:00AM (#40049812)
Yep, but no one can afford to do that post COVID when their own portfolio isn't filled unfortunately