Donald Trump on Real Estate
 

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Donald Trump talks about the Real Estate market in the U.S. for 2008

 

North Beach Towers will be built on the North Beach Plantation 7-½ acre oceanfront site in the former Barefoot Campground at the southernmost end of North Myrtle Beach. The two towers will offer staggering direct oceanfront and sweeping southern coastal views along the Atlantic

Stunning twin towers will reflect a southern coastal architectural ambience reminiscent of the styles found in Charleston, Savannah, Georgetown and Wilmington. Equally as spectacular are the two arches that connect the converging towers in a configuration modeled after the famous “Atlantis” Resort in The Bahamas. The upper arch at the 14th floor will contain a two-story restaurant/bar over-looking the ocean along with a penthouse above. The lower arch will embrace a lounge and concierge area.

The rising masterpiece will overlook the Atlantic Ocean and southern coastline through a spectacular large 2-½ acre Caribbean waterpark featuring an unprecedented array of water facilities including a host of outdoor fountains, swimming pools, spas, lazy river and swim-up pool bar. The facility will provide the largest outdoor water park ever built within a Myrtle Beach oceanfront resort. Substantial indoor water amenities will also be available.

All parking will be contained in a connected 600 space covered parking garage immediately adjacent to the ocean towers complex. Access to the towers is completely covered.

A mixture of one, two, three, four and five-bedroom villas comprise the twin towers, referred to as the Indigo House (180 residences), and the Jasmine House (162 residences). We refer to these oversized, spectacular properties as “Beach Houses in the Sky” and feel that they represent, in their spaciousness, a relatively untapped market niche.

All units are direct oceanfront. Special features include nine foot ceilings; double door entrances, 8’ solid core doors, granite kitchen and bath counter tops, custom cabinets, upgraded appliances, large walk-in closets, sound insulated walls between units, porcelain tiled entries, kitchens, and baths, and floor to ceiling glass spilling onto massive oceanfront balconies.

Special project features include oversized high-speed elevators, individual owner storage closets within the homes and in the hallways. All entry corridors will be enclosed and centrally conditioned. A wireless internet capable communications system will be provided.

Features

• Spectacular Oceanfront Georgian Architecture with “bridged” arches
• One of a kind “bridge lounge/restaurant” overlooking the ocean
• Elegant concierge lobby
• Enclosed climate controlled corridors
• Huge 2-1/2 acre water amenity area with pools, fountains and lazy river
• Covered parking adjacent to towers
• Beach Cabanas available
• Luxury high-speed elevators
 

Tower Standard Features
• Large Oceanfront balconies with panoramic views
• 9 foot ceilings
• Tray ceilings in entry and dining with crown molding in trays
• Classic double door entry
• Designer tile in entry, hall, kitchen and bath
• 7 foot solid core doors throughout
• Sound attenuated walls
• High-speed cable wiring for data, telephone, and full internet
• Wired and wireless access with TV cable
• Private storage rooms for each owner

Exquisite Gourmet Kitchens
• Selection of granite countertops
• Selection of cherry or maple custom cabinetry
• Undermounted stainless steel sink with multi-use faucet
• General Electric “Profile” stainless steel appliances including 23 Cu Ft double door refrigerator; GAS top stove and electric oven
 

Sumptuous Baths
• Master bath with a selection of granite countertop, double sinks
• Whirlpool tub and separate shower
• Remaining baths also with same granite countertops
• All baths with a selection of classic cabinets and framed vanity mirrors

Luxurious Living Rooms and Bedrooms
• Luxuriously carpeted living rooms and bedrooms
• Large walk-in closets in all Master Bedrooms

Option Features
• Selection of upgrade marble flooring
• Selection of upgrade carpeting
• Appliance upgrades available: General Electric “Monogram” series, Viking, Kitchen-Aid

 

 

 

 

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Larry King asked Donald Trump his views on real estate for 2008, and he replies that

NOW is the time everyone should be finding bargains and investing in real estate.

     
 

Robert Kiyosaki Why the Rich Get Richer

How to Profit From a Cooling Real Estate Market by Robert Kiyosaki

All over the U.S. there are stories of a rise in real estate foreclosures. Many people who took those exotic mortgages -- borrowing 125% of home value or choosing adjustable-rate mortgages -- are struggling to make their payments, and some aren't making it.

Also, a glut of new property supply, especially condominiums, is coming on line. A friend of mine, a very seasoned real estate investor, says in San Diego County, once one of the hottest real estate markets in the country, thousands of new condominiums are getting ready to come to market -- just as the market softens. He estimates that over 12,000 new units are coming on line, and the market, at the best of times, can only absorb about 1,000 condominiums a year. If he's correct, that means 12 years of supply will be ready for market in the next year.

As interest rates rise and the number of eager new buyers begins to diminish, adding supply to an already bad real estate market for sellers may mean a very good market for buyers and for property investors.

 
Hungry Alligators

The people who are in the most trouble are flippers -- people who aim to buy low and sell high within a short space of time. Many were buying condominiums off the plans, which means the projects were yet to be built, in the hopes that when the homes were completed, they would sell for a tidy profit. The trouble is many of these flippers, lured into the market by stories of people making a huge killing earlier with a similar strategy, are now the ones to be slaughtered. Now, they either lose their deposit or have to cough up the money for the purchase in the hopes there's a greater fool than they were somewhere out there real estate.

If you recall, the same thing happened around the year 2000 as amateurs jumped into the stock market, buying up tech stocks or any IPO with a dot-com after the company name.

In the coming months, I predict we'll see an increase in people dumping real estate they can't afford. They'll be forced to sell because they'll be eaten alive by a phenomenon known as negative cash flow. Investment properties that you have to feed money to every month are fondly known as alligators -- if you can't afford to feed the property every month, it eats you.

I know of one so-called real estate investor (and I prefer to call people like him speculators rather than investors) who has three homes he thought he could flip for a profit -- but he priced them too high. Now, $7,500 comes out of his pocket every month to feed the negative-cash-flow alligators. The problem is, he and his wife don't earn that much a month. Their three alligators are literally eating them out of house and home, consuming the profits they made from other flips -- and their savings.

To add more pain to the misery, they still have to pay the capital-gain taxes they made from their previous successful flips. They're toast. The alligators are eating them alive. They can't afford to feed them, and they can't afford to sell them because the prices they paid for these alligators are more than they're worth today. And this is only one story -- out of who knows how many. Over the next couple of years, keep your eyes open for some great bargains.

 
It's Time for the Pros

Some people say we're now entering a bad real estate market. I disagree. I think we're entering a great market. A bad one is when amateur investors become real estate experts and they bid up prices. They make housing expensive for homeowners, often adding little to no value to the property. They simply muddy the waters and make a valuable investment, a home, expensive.

Now, I must admit, I sometimes do buy to flip, so I can't be too critical. Yet it's the amateurs who come late to the party -- and who eventually donate their money back to the professionals. What I'm saying is: Now is the time to turn pro. Now is not the time to be an amateur. It's the amateurs who jump in when the market is hot. It's the professional who comes in when it's cooling down. Get the message?

When the red-hot bull market of real estate was beginning to overheat, you didn't have time to make considered decisions. Sellers were receiving multiple, over-asking-price offers. In a bull market, you had to be quick, have money, and be a little foolish. Now that the market is cooling down, sellers are a little bit more humble. You have more time and can do your due diligence carefully. You can negotiate better terms and make a better deal, especially if the seller has his leg inside an alligator's jaws.

 

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