It is time to set the record straight. Trump University later Trump Entrepreneur Initiative was never marketed as an accredited school of higher education. The claim is absurd; no, make that laughable on its face. It is impossible to believe anyone attending the seminars and online real estate courses believed they were paying for a college or university education. Nearly 20,000 people invested in Trump University weekend seminars, e-courses and workshops and 98% were happy.
The 70 attendees and their attorneys claiming fraud look like opportunists jumping on the ‘Trump has deep pockets’ gravy train. Can you spell ambulance chaser or slip ‘n fall? This is especially true given the fact many the ‘aggrieved’ signed ratings cards giving the Trump University courses high marks for the quality of instruction and the instructors.
It was made very clear up front, in writing and from the course instructors that the seminars were a jumping off point and not a guarantee of success. Attendees were also told the seminars could not be used for college credits. As one who invested in a two day wealth building weekend, as well as three online courses on real estate investing, I know.
Describing Trump University’s courses a scam designed to swindle unsuspecting consumers makes great headlines, but has nothing to do with reality. Trump’s rivals and the media who continue this negative propaganda demonstrate how uninformed they are.
Marco Rubio’s comments during the debates are a case in point. His carefully rehearsed line about Trump University is an excellent example. He delivered his line impeccably. By slamming Trump and the courses as stuff that could have been gotten on Zillow he demonstrated how ignorant he and those who advised him are about Trump University and Zillow.
“You know what they got in the courses? Stuff you can pull off Zillow,” Rubio said, referring to the real estate website. When they realized what a scam it was, they asked for their money back and refused to give their money back.” … Marco Rubio
For those who don’t know, including those going to any length to derail Trump, Zillow is an online data base where people go to list or look for rentals, to get estimates on properties, and to buy and sell homes. It has nothing to do with real estate education.
Here’s what Trump’s rivals are not telling you:
- The course materials were first class, including the multiple handouts. The 300 plus page course book was designed to be impressive. It came in a zippered executive portfolio embossed with the Trump logo. Trump quotes are sprinkled throughout the course materials. The quotes are a mix of common sense experiences sprinkled with business savvy and insider knowledge.
- The two day seminars began at 9:00a.m.and lasted until 5:00p.m.with only a short lunch break. Each session was jam packed with information on purchasing properties the Trump way, math formulas, theory, and cost benefit analyses. In other words, not the kind of stuff one finds on Zillow.
- The topics covered everything from contract contingency clauses, debt coverage ratios, negotiating for cash back at closing, cash flow analyses, property evaluations and much, much more. The instructors shared their real life real estate experiences with the attendees.
For anyone serious about entering the real estate the $1,495 investment was money well spent. Real estate can be lucrative but it is a tough business and not for the faint of heart. Regardless of age, regardless of business experience, it is important to acknowledging knowing what you don’t know and that’s where Trump University excelled.
The fact is a large majority who are in real estate are never going to be large scale builders like Trump. They don’t need a $100,000 degree in real estate from Wharton if their niche is going to be flipping residnetial homes or doing commercial deals under $10 million dollars.
One of the best Donald J. Trump quotes in the seminar materials is:
The third thing experience has taught me is sometimes your best investments are the ones you don’t make. … Donald J. Trump
Truer words, as they say, have never been spoken. Those who succeed, whether in life or real estate investing, know how and when to walk away. That qualifies as sage advice from one of the master’s of the real estate game and the Art of the Deal.