by Donald J. Trump

I am very pleased to inform you that  The World Travel Awards (www.worldtravelawards.com/vote) just announced their 2010 selections and the Trump Hotel Collection has been nominated for the following awards:  

Trump International Hotel & Tower New York - “North America’s Leading Hotel”
Trump Hotel & Tower Chicago  - “North America’s Leading Luxury Hotel”
Trump SoHo - “North America’s Leading New Hotel”
Trump International Hotel & Tower Chicago - “Leading Business Hotel.”

If any of you have had the opportunity to visit any of the above properties, I would greatly appreciate you voting in support of them. Winning once again (among others, Chicago won the #1 New Hotel last year) will mean a tremendous amount to the Trump brand.

Thank you for your support and patronage,

With best wishes,

Donald J. Trump

The housing boom resulted in the creation of thousands of new for-sale homes and condominium projects. The subsequent crash left many of these properties unsold or partially completed. In many cases, homebuilders and multifamily developers involved in these projects have either cut their losses and walked, lost the assets through foreclosure or are trying to secure [...]

The housing boom resulted in the creation of thousands of new for-sale homes and condominium projects. The subsequent crash left many of these properties unsold or partially completed.

In many cases, homebuilders and multifamily developers involved in these projects have either cut their losses and walked, lost the assets through foreclosure or are trying to secure additional financing to keep their heads above water. Add to that all the lenders with vacant houses and buildings thrown onto their laps.

All the while, there are numerous homes and apartment projects sitting empty or abandoned across the country. Sure, investor appetite is high for most assets out there, particularly multifamily. But even if these projects get snapped up, the demand has yet to materialize.

But what if there were something that could be done to both fill those units and address a major social issue at the same time?

That’s along the lines of what Habitat for Humanity is doing in Florida’s Sarasota County, according to a report in a local paper. The organization, which usually builds homes for families in need of one, has decided to shift gears for the next few years and instead rehabilitate homes that have been foreclosed on or abandoned. According to the report, Habitat can, in some cases, buy and remodel the residences cheaper than it would cost to build them. The effort would also help to ease the blight on neighborhoods by minimizing the number of homes sitting empty. Sarasota County and the City of Sarasota are partnering with the nonprofit through a $17-million infusion of federal stimulus money, which will help acquire and revamp about 100 abandoned and foreclosed homes by Feb. 11, 2013.

Similarly, advocate groups in New York City have been campaigning to have vacant condo and apartment units in some neighborhoods turned into affordable housing. The areas in question are primarily gentrified communities across the city, where developers—swayed by demographic trends—kicked off dozens of high-end projects on spec. Now that demand has decelerated dramatically, many of those luxury condos and rental apartments remain unoccupied. Why not take those vacant units to provide housing for those in need, the groups maintain?

I must admit, I’ve had the same thoughts myself, when I happen to venture into those neighborhoods. Take Long Island City, for instance, which houses one of my favorite restaurants, Waterfront Crab House (if you like seafood and find yourself in that area, you must check it out). When my husband first took me there nearly 10 years ago, the area was comprised of mostly industrial warehouses and shut-down factories.

A couple of years ago, there seemed to be more people living there and more coffee houses, funky lounges and restaurants opened up, and much of Long Island City was rife with development—mainly, of luxury condo projects. Go there, today, however, and it’s clear that the developers overshot their target. There are no fewer than a dozen high-rise condo towers out there, some unfinished and some only partially occupied—or both.

In a city is already suffering from a dearth of housing for low-income households, those vacant units could serve a much better purpose than they are now. Now, given what it cost to develop these projects and the financial weeds the developers and lenders may be in, I don’t know if this is even feasible. But it’s a thought…

Brookfield Properties is eyeing a collection of about 20 buildings in or near Washington that fell into default last summer.

1 ) CDPE – Certified Disaster of Proportions that are Epic – So I don’t make it a secret that I am not a big fan of designations. I think designations are mostly a way for NAR to make money every year with renewal feels for continuing to use those designations, than they [...]

This Article is Copyright © 2004-2010 BiggerPockets, Inc. All Rights Reserved.

The Ten Best in RE.net This Week: Mar. 6, 2010 Edition

1 ) CDPE – Certified Disaster of Proportions that are Epic – So I don’t make it a secret that I am not a big fan of designations. I think designations are mostly a way for NAR to make money every year with renewal feels for continuing to use those designations, than they are a good education. One of my biggest pet peeve designations — CDPE — that is why I love this story.

2 ) Roost Launches Free Real Estate Facebook Application – I have always thought of Facebook and fan pages as a better way to stay in touch with your sphere or your farm than it is to promote real estate. This new application is the first one I have seen that makes me say ok, maybe I should add it to my niche fan page.

3 ) Realtor Facebook Fan Page Strategy Gains 4,000+ Local Fans in 12 Days – He is now over 7,300fans in 17 days. I first mentioned what Dale Chumbley was doing in my Top 10 list on day 2 of his 365 day project. I thought it was going to be a hit, but nothing like this.

4 ) HAFA brochure from the NAR – When I see all of my dues money being used to promote HAFA, I start getting more than a little upset. This fancy new brochure that NAR has put out on the HAFA program is just the latest to get me going. I am still convinced, as I have been since November when I did my first video on it, that NAR president Vicki Cox Golder has not read this. Any reasonably intelligent person who reads the whole thing will see it is just another fine government program that will have the same effect as the last few useless programs.

5 ) Home Shoppers Unlikely to Obtain Estimated Good Faith Estimate – HUD wanted the GFE to be a tool to rate shop, but because lenders are locked into what is on the GFE (and things change quickly) they are reluctant to give one out.

6 ) The seller didn’t submit my offer to the bank on a short sale… – One of my favorite subjects, or should I say one of my top pet-peeves when it comes to short sales. Who owns the house? It is not the bank, they are not a party to the contract.

7 ) On Admin Fees and “Commission” – Another local agent and I were talking about this just this week. We came to the same conclusion that brokers should not be charging an administration fee on top of commission. Interestingly, Jonathan finds a court case which may make it illegal to do so.

8 ) Homeowner Estimates as Good as Zillow? Appraisal Academics Think So – Zillow estimates are horrible if you are trying to figure out how much a to list a house for, but Zillow even admits they are not perfect and they are intended to be a rough estimate of a value in an area.

9 ) The Most Effective Realtor Marketing Tool – Many agents who read this are going to say Twitter, or Facebook or my blog. Eric takes a look at why a good drip campaign may be your best marketing tool.

10 ) Foreclosed Borrowers May Get Loans Again – With the amount of short sales and foreclosures in places like Florida, California, Arizona and Nevada something is going to need to change.

This Article is Copyright © 2004-2010 BiggerPockets, Inc. All Rights Reserved.

The Ten Best in RE.net This Week: Mar. 6, 2010 Edition

Although last week’s post didn’t generate a huge response (I think I know why…) I’m going to stick to my word and give you my opinion on the most unique ads I feel probably generate the most leads based on the competing ads I laid out last week. I’m also going to give you some tips [...]

This Article is Copyright © 2004-2010 BiggerPockets, Inc. All Rights Reserved.

Top 3 Real Estate Ads and 3 Powerful Competition Crushing Letters (Part 2)

Although last week’s post didn’t generate a huge response (I think I know why…) I’m going to stick to my word and give you my opinion on the most unique ads I feel probably generate the most leads based on the competing ads I laid out last week.

I’m also going to give you some tips on how you can stand apart from your competition within your market. If you read last week’s post, then you know we can sum it all up with 3 powerful letters, which I’ll get to in a minute. With that said, let’s take a close look at the top 3 ads that I feel could be getting the most action and why:

In Third Place

Guaranteed Home Sale
We’ll buy your home in 120 days
or buy it for cash. Guaranteed!
(Website goes here)

It’s something about the word Guarantee that really stands out to me. It’s been said that using the word Guarantee in your ad can reduce the risk your target prospect may feel, increase their confidence in your services, and instantly add credibility to your business. Just be sure you can deliver on what you promise because your credibility will be quickly driven into the dirt if you don’t!

In Second Place

Sell Your House In 9 Days
Get in offer in hours. Any Area,
Condition, & Price Range-Visit Now
(website Goes here)

I really like this ad. With a soft promise of selling your home in 9 days it also tells the seller that they can get an offer within hours. It’s not specific as to how many hours, but it gives the impression that it will be quick. It’s also not specific to whether it will be a cash offer or not, however it does gives that impression based upon the fact that the home can be possibly sold in 9 days. Finally this closes out with a call to action. Saying the words, “Visit Now” or “Click Here” or “Call Now” in your ad can tell the prospect exactly what you want them to do. Surely this can be implied based on the nature of the advertisement, but you always want to have a clear call to action in your ads to eliminate any and all confusion as to what you want your prospect to do.

Again, be sure you can deliver on your promise. Steph Davis wrote an awesome post on How To Sell Your Wholesale Real Estate Deals  in 7 days or less that is worth a look.

And In First Place (drum roll please…)

We Buy DC-VA-MD Houses
Cash Offer within 24 hrs. No fees.
We Buy As Is. Wash DC based.
(Website goes here)

This was a tough decision, but I think this was the top ad. Remember, last week I told you that I Googled, “Sell my home fast” as if I were a seller and found all these ads in the Google search results. One thing to note is that I’m located in Virginia, so all the ads I saw were based on advertisers who targeted my location. Not everyone will choose to advertise nationwide. Some can get specific to the state, or even the city.

In my opinion, this ad would seem to stick out more to a local seller. Not only that, but we also have the Cash offer in 24 hours promise; this is specific and of course a seller knows that a cash offer can get their home sold faster. Buying “as is” would be another benefit and the phrase doesn’t blend in with the rest of the ads that say, “Any Condition”. Yes, they have the same meaning, but because you’re using different words, you’re not blending in with everyone else.

It’s all about standing out.

3 powerful words that can Crush Competition

Your U-S-P or Unique Selling Proposition is what separates you from your competition. It should be specific, beneficial, focused on a certain location or niche (target prospect). Therefore you USP must be a unique and compelling message that speaks directly to your prospect while  promising a great benefit, value, or service that gives them a a really good reason to choose you over anyone else.

One example that is often used is the old Dominos Pizza example:  “You get fresh, hot pizza delivered to your door in 30 minutes or less — or it’s free.”

Not only will I get my pizza fresh and hot, but I don’t have to go pick it up and it will be here in the next 30 minutes or I get it absolutely free? Calling now…

That is the message you want to have in your USP: Great Benefit, Quality of Your Service, and a unique Promise You Can Deliver on.

Other things that can make you stand out are giving away informative reports, dvds, audio messages or fact sheets that educate your prospects on topics like, their market, why they should work with you, how you can deliver on your promise, etc.

Here’s an example:

Get a Cash Offer in 24 hours
Free Video Reveals How to
Sell Your DC home Fast-Click Here
(website goes here)

The ad above has not been tested and is just a sample. FYI

It’s all about what you can do to stand apart from others.

Hope that helps…

To Your Success,

J. Lamar Ferren

“New Breed” Investor

ps. Do you agree or disagree with the results I chose? Why or Why Not? Leave a comment below.

Photo: Salvatore Vuono

This Article is Copyright © 2004-2010 BiggerPockets, Inc. All Rights Reserved.

Top 3 Real Estate Ads and 3 Powerful Competition Crushing Letters (Part 2)