Here’s how he got an incredible bargain for the property:
Trump initially made a lowball offer to the owner (the Post sisters) in 1986 who turned it down
To prevent anyone else from purchasing it, Trump decided to purchase the beachfront property right in front of the estate and then announced that he was going to “build to ugliest building ever” to block Mar-a-Lago’s oceanfront view
According to Trump:
“I announced that I was going but the ugliest building ever... with no windows, no nothing... just a wall so you couldn’t see the ocean.
In fact, the town almost got sick... they wanted to change the zoning.”
This scared off potential buyers/bidders for the property
A couple years later, Trump got a call and eventually purchased Mar-a-Lago for $8 million
Today, Mar-a-Lago today is worth far in excess of what Trump bought the estate for, with some sources valuing it in the hundreds of millions
For more business and founder stories just like this, make sure to follow.
Via @johal_capital
R/P: triple net investor X
Trump initially made a lowball offer to the owner (the Post sisters) in 1986 who turned it down
To prevent anyone else from purchasing it, Trump decided to purchase the beachfront property right in front of the estate and then announced that he was going to “build to ugliest building ever” to block Mar-a-Lago’s oceanfront view
According to Trump:
“I announced that I was going but the ugliest building ever... with no windows, no nothing... just a wall so you couldn’t see the ocean.
In fact, the town almost got sick... they wanted to change the zoning.”
This scared off potential buyers/bidders for the property
A couple years later, Trump got a call and eventually purchased Mar-a-Lago for $8 million
Today, Mar-a-Lago today is worth far in excess of what Trump bought the estate for, with some sources valuing it in the hundreds of millions
For more business and founder stories just like this, make sure to follow.
Via @johal_capital
R/P: triple net investor X
charlie.munger.wisdom
2024-04-10 22:39:56
and i said i don't want to pay that was a lot of money nineteen you know eighty six thirty eight million dollars us like three hundred million dollars today so they want thirty eight million dollars so i said you know what but stupidly the marjorie merriweather post foundation the children were not smart like she was when she died
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