Real estate insiders bewildered by judge’s $18M valuation of Trump’s Mar-a-Lago: ‘Would list at $300M’

[WorldWatcher]

I have not seen the papers used. I know for a fact Banks or lenders do not trust customers written words. It is because we can't do that. We are also subject to being audited.

Since you evaded.

The false statements center around NOT the collateral property acting as the principal of loan.

The false statements center around lying for years on "Statement of Financial Condition" and other such legally required documents to receive lower rates for the loan then would normally be available. Why? Because the conditions of the loans were that certain levels of Net Worth were required to continue to get the preferred rates (interest and insurance).

So simplify it in comparison to a home loan:

1. You have the principle, the physical property, that is the amount of the loan. Lenders have certain protections because in case of default they can have the property turned over to them.
2. Then you have the interest rate. For a normal consumer home loan that rate is set based on various factors the lender evaluates: Income, Income to Debt Ratio, current assets, Credit Score, etc. The more favorable your situation, the better the rates will be.

As was shown in court, FPOTUS#45 and the Trump Organization consistently lied about #2 to inflate Net Worth to fraudulently receive rates lower than was justified.

This isn't about the banks "evaluating" the colleterial property, this is about FPOTUS#45/Trump Organization inflating the worth of their 500 shell companies, a labyrinth interlocking shell companies to hide value and debt that no lender is going to unravel from the outside.

WW

 

[Billiejeens]

Horseshit. When a company submits financial statements banks do not presume them to be fraudulent.

There is a REASON Trump lied about his properties - financial gain.

Again,all of this was established in court, so you can save your half-baked musings for some other topic.

You are a fucking lunatic

 

[Robert W]

Horseshit. When a company submits financial statements banks do not presume them to be fraudulent.

There is a REASON Trump lied about his properties - financial gain.

Again,all of this was established in court, so you can save your half-baked musings for some other topic.

We always accepted your material on your application as if you lied to us. This is why we demanded from every customer that you give us permission to totally audit what you tell us.
I spent years as a mortgage lender. I know for a fact that what is said here by democrats is just more lies.

 

[Robert W]

Since you evaded.

The false statements center around NOT the collateral property acting as the principal of loan.

The false statements center around lying for years on "Statement of Financial Condition" and other such legally required documents to receive lower rates for the loan then would normally be available. Why? Because the conditions of the loans were that certain levels of Net Worth were required to continue to get the preferred rates (interest and insurance).

So simplify it in comparison to a home loan:

1. You have the principle, the physical property, that is the amount of the loan. Lenders have certain protections because in case of default they can have the property turned over to them.
2. Then you have the interest rate. For a normal consumer home loan that rate is set based on various factors the lender evaluates: Income, Income to Debt Ratio, current assets, Credit Score, etc. The more favorable your situation, the better the rates will be.

As was shown in court, FPOTUS#45 and the Trump Organization consistently lied about #2 to inflate Net Worth to fraudulently receive rates lower than was justified.

This isn't about the banks "evaluating" the colleterial property, this is about FPOTUS#45/Trump Organization inflating the worth of their 500 shell companies, a labyrinth interlocking shell companies to hide value and debt that no lender is going to unravel from the outside.

WW

My reply was simple. It was not to evade. Now you decided to speculate. And you never said you have been a mortgage lender and I have spent many years as one. My company was subject to audit. Customers were as well.
Normally our rate charged to customers was what was told to us by extremely large lenders. Most of them vanished thanks to the Dodd Frank laws passed. I check the list since I still am on the mailing list were I to be now in business. I still get insiders reports.
I can see why a party who owns stock in company A or B or C wants to earn more dividends as a reason for the customer to be honest. But the rate charged is typically based on the credit score by the 3 major firms who rate credit. For businesses, reports done by Dunn and Bradstreet also factor in.
I see by your language you find Trump guilty though you have not seen and evaluated any of the paperwork the banks who loaned him the money used to make the loan.
You are in short flying in the dark.

 

[Robert W]

Since you evaded.

The false statements center around NOT the collateral property acting as the principal of loan.

The false statements center around lying for years on "Statement of Financial Condition" and other such legally required documents to receive lower rates for the loan then would normally be available. Why? Because the conditions of the loans were that certain levels of Net Worth were required to continue to get the preferred rates (interest and insurance).

So simplify it in comparison to a home loan:

1. You have the principle, the physical property, that is the amount of the loan. Lenders have certain protections because in case of default they can have the property turned over to them.
2. Then you have the interest rate. For a normal consumer home loan that rate is set based on various factors the lender evaluates: Income, Income to Debt Ratio, current assets, Credit Score, etc. The more favorable your situation, the better the rates will be.

As was shown in court, FPOTUS#45 and the Trump Organization consistently lied about #2 to inflate Net Worth to fraudulently receive rates lower than was justified.

This isn't about the banks "evaluating" the colleterial property, this is about FPOTUS#45/Trump Organization inflating the worth of their 500 shell companies, a labyrinth interlocking shell companies to hide value and debt that no lender is going to unravel from the outside.

WW

It should scare the shit out of all who read you as to your belief in Government vs citizens rights. You want the Government to be the decider of the rates you are charged by banks. Banks are not children. Banks decide what rates to charge and what credit ratings are impacting the price of the loans. God help us, do not let Government set the rates since they are so bad at keeping their own books.

 

[CowboyTed]

Trump valued Mar-a-Lago at $739 million, that he originally bought for 10 million - is he a moron or simply committing fraud?

Common mr.Not-Moron, try to explain it.

He bought for $10m and he then restricted the usage of it for life for a property tax benefit.

"
The reality of Mar-a-Lago's value is not straightforward. The historic Palm Beach property has deed restrictions which mean it can only be used as a private club.

The land cannot be subdivided, and it requires considerable preservation expenses for the estate, which was built in 1927 for businesswoman and socialite Marjorie Merriweather Post.

This deed came about in the 1990s when Mr Trump said Mar-a-Lago was too expensive to be preserved as a private residence, calling it a "white elephant" that was "almost impossible to sell".

Changing it to a private club meant he could use hefty membership fees to help pay for preservation and upkeep."

Mar-a-Lago: The billion-dollar question at heart of Trump fraud trial

Donald Trump's Mar-a-Lago property has been valued between $18m and $1bn, so what's it really worth?

www.bbc.com

So it has to valued as a business not a piece of property... Before Trump came President the revenue of the business was about $10m, when he became President it jumped to $21m but that was dropping during his Presidency...

So lets say the revenue of the club is $15m... Best you could see as profit out of that is $2m (we don't know this)...

But going by this it might be worth $30 - $45 million at best... Remember you can't change usage of the building.

What Multiple Of Revenue Is A Business Worth? – Raincatcher

The worth of any particular business is an open question. We can only get closer to understanding it by looking at income, making projections, and gauging

raincatcher.com

 

[Leo123]

He bought for $10m and he then restricted the usage of it for life for a property tax benefit.

"
The reality of Mar-a-Lago's value is not straightforward. The historic Palm Beach property has deed restrictions which mean it can only be used as a private club.

The land cannot be subdivided, and it requires considerable preservation expenses for the estate, which was built in 1927 for businesswoman and socialite Marjorie Merriweather Post.

This deed came about in the 1990s when Mr Trump said Mar-a-Lago was too expensive to be preserved as a private residence, calling it a "white elephant" that was "almost impossible to sell".

Changing it to a private club meant he could use hefty membership fees to help pay for preservation and upkeep."

Mar-a-Lago: The billion-dollar question at heart of Trump fraud trial

Donald Trump's Mar-a-Lago property has been valued between $18m and $1bn, so what's it really worth?

www.bbc.com

So it has to valued as a business not a piece of property... Before Trump came President the revenue of the business was about $10m, when he became President it jumped to $21m but that was dropping during his Presidency...

So lets say the revenue of the club is $15m... Best you could see as profit out of that is $2m (we don't know this)...

But going by this it might be worth $30 - $45 million at best... Remember you can't change usage of the building.

What Multiple Of Revenue Is A Business Worth? – Raincatcher

The worth of any particular business is an open question. We can only get closer to understanding it by looking at income, making projections, and gauging

raincatcher.com

That's all fine and dandy but, the bank is the one that determines value in a loan transaction, not the borrower because, well.....That would be stupid. That's why Trump told the bank to get their own appraisal of his property.

 

[Leo123]

Since you evaded.

The false statements center around NOT the collateral property acting as the principal of loan.

The false statements center around lying for years on "Statement of Financial Condition" and other such legally required documents to receive lower rates for the loan then would normally be available. Why? Because the conditions of the loans were that certain levels of Net Worth were required to continue to get the preferred rates (interest and insurance).

So simplify it in comparison to a home loan:

1. You have the principle, the physical property, that is the amount of the loan. Lenders have certain protections because in case of default they can have the property turned over to them.
2. Then you have the interest rate. For a normal consumer home loan that rate is set based on various factors the lender evaluates: Income, Income to Debt Ratio, current assets, Credit Score, etc. The more favorable your situation, the better the rates will be.

As was shown in court, FPOTUS#45 and the Trump Organization consistently lied about #2 to inflate Net Worth to fraudulently receive rates lower than was justified.

This isn't about the banks "evaluating" the colleterial property, this is about FPOTUS#45/Trump Organization inflating the worth of their 500 shell companies, a labyrinth interlocking shell companies to hide value and debt that no lender is going to unravel from the outside.

WW

A borrower can lie all they want, it's up to the BANK to get their own valuation which is why Trump told them to get their own evaluation and not to rely solely on his.

 

[Robert W]

He bought for $10m and he then restricted the usage of it for life for a property tax benefit.

"
The reality of Mar-a-Lago's value is not straightforward. The historic Palm Beach property has deed restrictions which mean it can only be used as a private club.

The land cannot be subdivided, and it requires considerable preservation expenses for the estate, which was built in 1927 for businesswoman and socialite Marjorie Merriweather Post.

This deed came about in the 1990s when Mr Trump said Mar-a-Lago was too expensive to be preserved as a private residence, calling it a "white elephant" that was "almost impossible to sell".

Changing it to a private club meant he could use hefty membership fees to help pay for preservation and upkeep."

Mar-a-Lago: The billion-dollar question at heart of Trump fraud trial

Donald Trump's Mar-a-Lago property has been valued between $18m and $1bn, so what's it really worth?

www.bbc.com

So it has to valued as a business not a piece of property... Before Trump came President the revenue of the business was about $10m, when he became President it jumped to $21m but that was dropping during his Presidency...

So lets say the revenue of the club is $15m... Best you could see as profit out of that is $2m (we don't know this)...

But going by this it might be worth $30 - $45 million at best... Remember you can't change usage of the building.

What Multiple Of Revenue Is A Business Worth? – Raincatcher

The worth of any particular business is an open question. We can only get closer to understanding it by looking at income, making projections, and gauging

raincatcher.com

This reminds me of the old woman who has never seen a horse alive telling us all about horses, their values and uses. It does not make a lick of sense.

 

[AntonToo]

We always accepted your material on your application as if you lied to us. This is why we demanded from every customer that you give us permission to totally audit what you tell us.
I spent years as a mortgage lender. I know for a fact that what is said here by democrats is just more lies.

Cool story, nothing to do with disproving that Trump Co was very intentionally lying in their financial statements and doing so is in fact fraud.

 

[WorldWatcher]

It should scare the shit out of all who read you as to your belief in Government vs citizens rights. You want the Government to be the decider of the rates you are charged by banks. Banks are not children. Banks decide what rates to charge and what credit ratings are impacting the price of the loans. God help us, do not let Government set the rates since they are so bad at keeping their own books.

My belief in FPOTUS#45 has nothing to do with government setting the rates. I grew up in New York State and knew from the ‘70s on that Trump was a crook and con man.

His problem isn’t based on the government setting rates, his problem is based on building a business on falsifying legal documents.

He was welcome to any rate he could get without lying about his net worth (which was required for the SOFCs.

WW

 

[WorldWatcher]

A borrower can lie all they want, it's up to the BANK to get their own valuation which is why Trump told them to get their own evaluation and not to rely solely on his.

Nope the borrower cannot lie all V the want.

That’s called fraud when the do it on legal documents, as FPOTUS#45 has found out.

WW

 

[Leo123]

Nope the borrower cannot lie all V the want.

That’s called fraud when the do it on legal documents, as FPOTUS#45 has found out.

WW

Borrowers lie all the time but the Bank is never stupid enough to believe their always inflated values. Instead the bank hires an objective 3rd party to determine the opinion of market value. Trump also told the bank to get their own appraisal instead of relying on his estimate. The loan was made, no one was harmed and the loan was paid back in full. Trump never lied on a 'legal document.' You know nothing.

 

[WorldWatcher]

Borrowers lie all the time but the Bank is never stupid enough to believe their always inflated values. Instead the bank hires an objective 3rd party to determine the opinion of market value. Trump also told the bank to get their own appraisal instead of relying on his estimate. The loan was made, no one was harmed and the loan was paid back in full. Trump never lied on a 'legal document.' You know nothing.

Denial is the first stage of grief.

You will get through the others, but don’t worry - we’re here to help.

WW

 

[Billiejeens]

Borrowers lie all the time but the Bank is never stupid enough to believe their always inflated values. Instead the bank hires an objective 3rd party to determine the opinion of market value. Trump also told the bank to get their own appraisal instead of relying on his estimate. The loan was made, no one was harmed and the loan was paid back in full. Trump never lied on a 'legal document.' You know nothing.

WW seems to be a simpleton.
Bragidocious for sure, but no substance.

 

[Leo123]

Denial is the first stage of grief.

You will get through the others, but don’t worry - we’re here to help.

WW

Zat all ya got boy?

 

[Robert W]

My belief in FPOTUS#45 has nothing to do with government setting the rates. I grew up in New York State and knew from the ‘70s on that Trump was a crook and con man.

His problem isn’t based on the government setting rates, his problem is based on building a business on falsifying legal documents.

He was welcome to any rate he could get without lying about his net worth (which was required for the SOFCs.

WW

It would do you a lot of good to study how RE loans are actually created and the built in protections there are in all loans.-

I have wasted my time attempting to correctly inform you as well as others who read our dialogue.

Don't worry. It is quite a feat to get a license as I got to originate loans.

 

[Leo123]

WW seems to be a simpleton.
Bragidocious for sure, but no substance.

Yeah WW is obviously a legacy media headline scanner for sure.

 

[Robert W]

Borrowers lie all the time but the Bank is never stupid enough to believe their always inflated values. Instead the bank hires an objective 3rd party to determine the opinion of market value. Trump also told the bank to get their own appraisal instead of relying on his estimate. The loan was made, no one was harmed and the loan was paid back in full. Trump never lied on a 'legal document.' You know nothing.

Several posters who post here have taken our time to correctly inform him. It is pretty important others are not charged by Democrats operatives in the legal system.
Some of us informed him about appraising. Seems we wasted our time. Does not matter to we professionals at all.

 

[Leo123]

It would do you a lot of good to study how RE loans are actually created and the built in protections there are in all loans.-

I have wasted my time attempting to correctly inform you as well as others who read our dialogue.

Don't worry. It is quite a feat to get a license as I got to originate loans.

I was a licensed RE appraiser for over 25 years. If a borrower inflating the value of their own property was a crime, there would not be enough jails to house all those 'criminals.'