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Don't Get Suckered By Trump University Coming to Sacramento

By Elizabeth Weintraub Sacramento Broker

Real Estate Agent with Elizabeth Anne Weintraub, Broker DRE #00697006

September 14, 2008 03:56 AM

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

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Sacramento Grapevine

SacramentoGrapevine - Roseville, CA

You are absoutley correct, HE just wants OUR MONEY....................

Sep 14, 2008 04:04 AM

Fred Chamberlin

Guild Mortgage Co - Oak Harbor WA - Oak Harbor, WA

Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant

Awww Elizabeth, you mean I can't buy a home with no money down, no income and lousy credit? I am crushed. I was ready to buy that book, cd and big lie. Thanks for keeping it real.

Sep 14, 2008 04:04 AM

Erin Newington

5305573559 - Grass Valley, CA

Sierra Foothills Realtor

That means the phone is going to be ringing off the hook next week and we are going to have to talk everyone down to reality! Good news is he will get them excited about real estate. we will just need to help them change their perception a little :).

Sep 14, 2008 05:47 AM

Elizabeth Weintraub Sacramento Broker

Elizabeth Anne Weintraub, Broker - Sacramento, CA

Put 40 years of experience to work for you

Hi Sindee: But lots of people trust Donald Trump, and they don't know any better.

Hi Fred: I can't count the number of people who get energized by these things and can't figure out why nobody else understands how easy it is.

Hi Erin: That's right. We will have to educate them . . . or not. I hate breaking the news and saying, "Hey, back in the 1970s, I worked with those seminar companies, and listen . . ."

Sep 14, 2008 01:42 PM

Colleen Fischesser Northwest Property Shop

NextHome Experience - Chelan, WA

A Tradition of Trust in the Pacific NW since 1990!

Ahh geez...I would like to think he was above all this nonsense. I've visited his blog before and found it very elementary, obivously he's not at all involved. Nice you've given the heads up on this!

Sep 14, 2008 01:43 PM

Barbara S. Duncan

RE/MAX Advantage - Searcy, AR

GRI, e-PRO, Executive Broker, Searcy AR

Ohhh, noooo, not that old no-money-down stuff all over again. I never watched it on TV. Is it still on?

Sep 14, 2008 02:20 PM

Elizabeth Weintraub Sacramento Broker

Elizabeth Anne Weintraub, Broker - Sacramento, CA

Put 40 years of experience to work for you

Hey Colleen: All in all, I know people admire Trump, but I don't believe he's that nice of a guy. Besides, his seminar business is most likely simply another avenue of revenue.

Hi Barbara: Yup, extreme markets call for extreme measures, and as you know, there's a sucker born every minute.

Sep 14, 2008 02:54 PM

Jesse Clifton

Jesse Clifton & Associates - Fairbanks, AK

Let me guess... Carlton Sheets is going to be a guest lecturer. :)

Sep 14, 2008 08:35 PM

Elizabeth Weintraub Sacramento Broker

Elizabeth Anne Weintraub, Broker - Sacramento, CA

Put 40 years of experience to work for you

Hey Jesse: Lots of gurus copy Carlton Sheets. But the originals are really Robert Allen and Albert J. Lowry.

Sep 15, 2008 02:48 AM

Josef Katz

Digital and Direct Response Marketing - Manhattan, NY

{Marketing Maestro}

Elizabeth, Our free class is not for everyone we know that. There are obviously some similarities between our free class and some of the 'get rich quick' folks talking about real estate. However, I encourage you to attend our event and see what we are all about first hand. I can tell you that "we are different" but I am sure it would not do any good... If you still feel that our instructors are being unethical, misrepresenting the market or opportunities please let me know. Mr Trump is involved in the business and we all take responsibility for his brand and everyone that represent the company.

As for the ad - When the ad was created the stat was correct and it was referring to the national housing market. I will make sure we update our ads and try to customize them for local markets. This is not a small job but your point is correct.

Please feel free to contact me directly if you want to discuss in more detail.

Sep 15, 2008 01:44 PM

Jesse Clifton

Jesse Clifton & Associates - Fairbanks, AK

True... but CS always made me laugh. It just never came across as even remotely believable.

Sep 15, 2008 10:02 PM

Elizabeth Weintraub Sacramento Broker

Elizabeth Anne Weintraub, Broker - Sacramento, CA

Put 40 years of experience to work for you

Hi Josef: I would imagine that customizing your ads for local markets is essential.

Hi Jesse: The thing is some of the techniques do work. Have the speakers actually done them? Probably not. Could the average Joe do it? Nope.