2020 Presidential Race

#93,158
#93,158
NorthDallas40 said:
So he has personal loans of $400M?
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Man, I couldn't tell you. I just know that if he defaults, they won't be a secret. The tax evasion cases could drag out for years, though.

I'm sure he can drum up quite a bit of cash with a book release or ten, I'd guess someone has already written them for him.
 
#93,159
#93,159
NorthDallas40 said:
What are the valuations of the assets used to secure the loans?
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“Trump purchased the property for $150 million in 2012, borrowing $106 million from Deutsche Bank. He proceeded to dump a reported $213 million of additional money into the resort. In 2015, as he was running for president, Trump took out a second mortgage of $19 million, making his liabilities an estimated $125 million.”

“the Trump International Hotel in Washington, D.C., perhaps the president’s most famous property. In 2013, Trump promised to invest $200 million into the hotel in exchange for the right to lease it from the government for 60 years. The Obama administration, which negotiated the deal, seems to have gotten the best of Trump. An analysis of financial documents connected to the hotel suggests that it could have produced $5 million or so in annual operating profits from 2017 to 2019. That does not appear to be enough to cover the interest expenses on the property. In September, the New York Times reported that Trump’s tax-return data showed $55.5 million of losses at the hotel from the time it opened in 2016 to the end of 2018. The loan comes due in 2024.”
 
#93,160
#93,160
Orangeslice13 said:
When I was 40 I could bomb the tee shot. The thing is I was wildly inaccurate when I hit it long. If I hit it 240 off the tee I shoot near par. Longer than that and it all turns to ****.
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I never really could bomb it, but now I can only carry the tee shot about 225, with about a 93 mph swing speed. If I can get some roll, I can still play from the regular tees, unless it it a really long course. I have lost about 30-35 yards from age 50 to 71. Also, I'm about 12-15 yards shorter with each iron. That effectively makes a hole about 40-50 yards longer for me now, compared to age 50. When I was young, and stronger, and more flexible, the equipment didn't allow us to hit it all that far.
 
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#93,162
#93,162
Stew Cook said:
Man, I couldn't tell you. I just know that if he defaults, they won't be a secret. The tax evasion cases could drag out for years, though.

I'm sure he can drum up quite a bit of cash with a book release or ten, I'd guess someone has already written them for him.
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Tax evasion cases?
 
#93,163
#93,163
volfanhill said:
It's amazing how often people forget that point.
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Well apparently those valuations are “flexible” one of the themes of Vances Manhattan Law Suit

Per Micheal Cohan’s Congressional Testimony Trump used multiple valuations for differing purposes. For example the higher appraisals are rolled out for the purpose of looking likes billionaire to Forbes, bank loans and insurance

The lower valuations are used for the purpose of assessed values for real estate tax purposes

Bank financing purposes, always, and insurance coverage purposes, frequently on substantial properties, require independent appraisals.
 
#93,164
#93,164
Stew Cook said:
Man, I couldn't tell you. I just know that if he defaults, they won't be a secret. The tax evasion cases could drag out for years, though.

I'm sure he can drum up quite a bit of cash with a book release or ten, I'd guess someone has already written them for him.
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Remember when Brian owed Stewie money??? That will be a couple of Trump’s lenders in about a year or 2. How do you pay back a $1 billion with no income????
1607733049558.jpeg
 
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#93,166
#93,166
carlos86 said:
“Trump purchased the property for $150 million in 2012, borrowing $106 million from Deutsche Bank. He proceeded to dump a reported $213 million of additional money into the resort. In 2015, as he was running for president, Trump took out a second mortgage of $19 million, making his liabilities an estimated $125 million.”

“the Trump International Hotel in Washington, D.C., perhaps the president’s most famous property. In 2013, Trump promised to invest $200 million into the hotel in exchange for the right to lease it from the government for 60 years. The Obama administration, which negotiated the deal, seems to have gotten the best of Trump. An analysis of financial documents connected to the hotel suggests that it could have produced $5 million or so in annual operating profits from 2017 to 2019. That does not appear to be enough to cover the interest expenses on the property. In September, the New York Times reported that Trump’s tax-return data showed $55.5 million of losses at the hotel from the time it opened in 2016 to the end of 2018. The loan comes due in 2024.”
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That doesn’t answer to the valuation of any of the properties that I saw. The only loss mentioned was an operating loss which he’ll used for tax advantage. So... the property valuations ?
 
#93,167
#93,167
PointGuard said:
Well apparently those valuations are “flexible” one of the themes of Vances Manhattan Law Suit

Per Micheal Cohan’s Congressional Testimony Trump used multiple valuations for differing purposes. For example the higher appraisals are rolled out for the purpose of looking likes billionaire to Forbes, bank loans and insurance

The lower valuations are used for the purpose of assessed values for real estate tax purposes

Bank financing purposes, always, and insurance coverage purposes, frequently on substantial properties, require independent appraisals.
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Do you know anything about commercial real estate? Dumb question. You clearly don't.
 
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#93,169
#93,169
PointGuard said:
Well apparently those valuations are “flexible” one of the themes of Vances Manhattan Law Suit

Per Micheal Cohan’s Congressional Testimony Trump used multiple valuations for differing purposes. For example the higher appraisals are rolled out for the purpose of looking likes billionaire to Forbes, bank loans and insurance

The lower valuations are used for the purpose of assessed values for real estate tax purposes

Bank financing purposes, always, and insurance coverage purposes, frequently on substantial properties, require independent appraisals.
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The burden is on the lender to determine collateral valuations. If they vacated that duty they are negligent and probably broke the law.
 
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#93,171
#93,171
MontyPython said:
Nailed it.

"The court did not provide a vote count, but there were no dissents to the order made public.
Separately, justices Samuel Alito and Clarence Thomas said they would have allowed the case to be filed, but would grant no other relief."
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There was no standing nor should there be.

As I told my parents, you want Calofornia to be able to tell TN how to run its state cause that's the slippery slope this would lead to.

There are still a few cases in state courts but my guess is Biden is elected, Republicans hold the Senate, Hunters name is dragged through the mud causing Harris to step in within 24 months as president and the Republicans pick up more seats in the midterms and this country is a total crap fest the next 4 years.
 
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#93,172
#93,172
carlos86 said:
Remember when Brian owed Stewie money??? That will be a couple of Trump’s lenders in about a year or 2. How do you pay back a $1 billion with no income????
View attachment 329659
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Are there any valuations listed on there?

This is a common forgotten item when you guys list this stuff. You chest thump on the liabilities while completely ignoring the collateral valuations. Anybody that knows anything about lending laughs at it.
 
#93,175
#93,175
NorthDallas40 said:
The burden is on the lender to determine collateral valuations. If they vacated that duty they are negligent and probably broke the law.
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Lenders typically rely on independent appraisals hired and paid for by borrowers. It will be interesting to see in Vance’s case who the appraisers were for each variation in value on the same asset.
 
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