office building being built on every

corner what credit was all over the

place
the credit crisis is in a certain way
solving the answer to your question I
think you're just not going to have that
much so stop the over building its gonna
stop I mean people can do if you have a
site unless you have a tenant signed up
and done nope and even if you have that
no bank is going to give you money for
it it's interesting that the real estate
bubble was a global situation the real
estate opportunity is also a global one
and we do have a question Donald coming
from a city where you do a lot of
business that's Dubai listen to this
good evening mr. Trump mr. Trump you
have achieved real estate success in the
United States you are now part of the
incredible real estate boom in Dubai
what was the appeal of Dubai and how can
you or others find success here well
part of the appeal was the incredible
company I'm a partner with Nikhil and
it's a great company in Dubai and when I
go to Dubai and when I see what's
happening if you like real estate and if
you like buildings because I consider it
my greatest art form you really have to
be there and certainly at this moment
they're doing incredible things the
building I'm building there is something
that is so spectacular and you know as
the cities get older like New York today
zoning they want contextual you can't
build higher than six storeys you can't
do this I'm building a building in Soho
it's called Trump Soho it's a
spectacular building a beautiful
building it's going to be 44 storeys
tall everybody they pick it it's too
tall in Dubai you go 150 storeys how
about 200 stories they're really they're
just ahead of the curve this country our
country that we all love it better get
smart because you're gonna lose the Mojo
you're gonna lose the momentum places
are really making you welcome whether
it's Dubai or Qatar and so many other
great but they're making you welcome to
be there what about China real estate
and China good idea
a spectacular place a lot of people say
you know how do I get rich mr. Trump how
do I get rich now
not everybody wants to go to China not
everybody wants to go to India not
everybody wants to go outside of the
United States but there is great
opportunity outside of the United States
where's the best opportunity outside the
US well I think probably China and India
right now alright we have a question now
from Mexico mr. Trump you have invested
in many global real estate projects what
is the first step for someone who wants
to invest globally real estate is a
local business to a large extent you
really have to get a great partner if
you're gonna go to Mexico if you're
gonna go to any one of hundreds of
places it's fine it's good you got to
pick the right place you got to pick the
right country but get yourself a great
partner I'm a big fan of yours I got all
your shirts and then I'm just a big fan
I try just like you I've been in the
current market what do you think of
acquiring residential residental
property at a discounted rate especially
with limited resources well I think this
is the time you do it this is really the
time again a year ago you couldn't have
done that today I say go out and get
yourself something really terrific at a
big fat discount and then you can rent
it you could sell it you can do lots of
different things you might very well
rent it for a while until the market
gets better it's a lot easier to rent in
a bad market that you know people don't
have the money so they rent instead of
buying but if you can buy fix up and
rent you'll end up with a nice portfolio
when did you realize that real estate
was the right career for you well that's
a funny question because I had a really
wonderful lawyer named Aegon dumb ler
and he was a broadway lawyer and I've
always liked bird where I was like
theatre I always liked all of that stuff
and maybe that's sort of a natural
inclination but he was having a hard
time with an apartment and I was doing a
Broadway show with Molly pecan and Sam
Levine and it was just a bro wish I was
young and I liked it I liked Broadway I
liked the I liked all those stuff and he
was asking me questions about real
estate I was probably 19 years old I was
in the Wharton School of Finance but I
was sort of doing this little Broadway
thing I was having fun with it part time
so this lawyer this big strong guy in
terms of lowering said to me what the
hell are you doing going into showbiz
and it really had an impact cuz every
question he was asking me I knew the
answer was like second nature was like
and he couldn't believe to him it was so
complicated to me was so easy and
ultimately I realized that Real Estate's
a better business
but as I said I put show business into
real estate and I still do the other
thing I mean I have a little bit of
learn I think it's safe to say clearly
we're in a real-estate recession but yet
you're saying it's a good time to buy is
that the same thing as saying Donald
Trump says the worst is behind us what
did the u.s. real estate well I think
it's very close to being behind us most
of the bad loans have come out most of
the deals that are really troublesome
have come out it's it's really going to
get better and when the person has
before I said you know from now to six
months from now maybe a year from now
but you can't you know Real Estate's not
as exacting as oh I'm gonna go out and
buy General Motors stock at 28.2 it's
not that exacting it's a feel it's a
flow and you have to go with that flow
but if this is a good time right now to
go out and buy or at least start
negotiating I think between now and six
months three years a good
next running a business and protecting
what you've built I've been in many
fights but the worst fight can be with
two people that formerly loved each
other and it can destroy your business