Trump University is coming to Sacramento next week to give "introductory classes" on how Donald Trump can profit big if you buy his books, CDs and other seminars, er, I mean how you can profit big by buying real estate. Trump University took out a half-page ad in the Sacramento Bee to tout the Perfect Storm in real estate.
In the ad, Trump University claims that housing inventories are at a 20-year high, which is absolutely ridiculous. Anybody looking at real estate stats will see the inventory has dropped at least 30% across the board in Sacramento. It also says housing prices have dipped 16.3% from last year. Who pulls these fabricated numbers? Housing prices have slid about 35% since last year.
You've got to say to yourself that if Trump University can't get the basic facts straight about Sacramento, how is its seminar going to help you? By promising that you can buy real estate for no money. Yup, that's right folks. While banks are tightening guidelines, requiring higher down payments and scrutinizing each transaction with a magnifying glass, Trump says you don't need any money at all. In fact, you don't even need to know what you are doing because real estate is such a simple business that anybody can amass a fortune overnight. In two hours, Trump will teach you everything a successful real estate investor needs to succeed.
Do yourself a favor and forget this get-rich-quick seminar scheme.
Photo: Getty Images/Scott Wintrow