Trump Tower might not really be a Trump - Hawaii Business

There are 50 comments on the Honolulu Star-Bulletin story from Jul 14, 2009, titled Trump Tower might not really be a Trump - Hawaii Business. In it, Honolulu Star-Bulletin reports that:

Call a spade a spade, but a lawsuit brought by several buyers alleges that the Trump International Hotel & Tower at Waikiki Beach Walk is not really a Trump.

Join the discussion below, or Read more at Honolulu Star-Bulletin.

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trumpbuyer

Honolulu, HI

#46 Jul 16, 2009
Housing Bust wrote:
<quoted text>
"Real estate is still the best investment." Sure! Just look here:
http://www.oahure.com/Resales.php...
http://www.oahure.com/Resales.php...
http://flippersintrouble.blogspot.com/
Can you say real estate still the best investment if prices continue to fall?
http://www.oahure.com/PriceDrops.php...
http://www.oahure.com/PriceDrops.php...
It is just like purchasing stocks but much less risky. If you plan to "flip" the property immediately, your gains will be small; and if it is done in less than 6 months, you will end up with incredible capital gains taxes.

Prices will eventually go up in real estate. If people don't have the capital and income to stick with the investment long enough to make a profit, they shouldn't invest. People are always looking for the "quick buck." Most financially successful people understand that there is no such thing. Property in Hawaii is finite, but demand is infinite.

Despite the recession, most people who could pay $800 -$2000/night for a hotel room can still pay it. And, most who could afford to have $350K (that was our deposit amount and the average down payment for Trump Waikiki) tied up for 2 1/2 years have no problems hanging on to an investment for however long it takes to make money.
surfer dude honolulu

Lake Oswego, OR

#47 Jul 16, 2009
trumpbuyer wrote:
<quoted text>
It is just like purchasing stocks but much less risky. If you plan to "flip" the property immediately, your gains will be small; and if it is done in less than 6 months, you will end up with incredible capital gains taxes.
Make that 12 months. Any gain 365 days or less is a short term gain at a rate of 35%. 366 days or more is a long term gain at a rate of 15%
surfer dude honolulu

Lake Oswego, OR

#48 Jul 17, 2009
trumpbuyer wrote:
<quoted text>
It is just like purchasing stocks but much less risky. If you plan to "flip" the property immediately, your gains will be small; and if it is done in less than 6 months, you will end up with incredible capital gains taxes.
Prices will eventually go up in real estate. If people don't have the capital and income to stick with the investment long enough to make a profit, they shouldn't invest. People are always looking for the "quick buck." Most financially successful people understand that there is no such thing. Property in Hawaii is finite, but demand is infinite.
Despite the recession, most people who could pay $800 -$2000/night for a hotel room can still pay it. And, most who could afford to have $350K (that was our deposit amount and the average down payment for Trump Waikiki) tied up for 2 1/2 years have no problems hanging on to an investment for however long it takes to make money.
This is not like purchasing stocks. I call sell my entire portfolio in 5 minutes and have cash at the end of the day. Can you do that with your investment property? NO WAY.
Eddie

Honolulu, HI

#50 Jul 23, 2009
If the properties is not going to be named "Trump Towers Waikiki", and the developer "Irongate" purposely failed to fully disclose this information to the Real Estate Commision, then this is nothing but a fraud.
rockyo

Laguna Beach, CA

#51 Jul 25, 2009
OK we own a luxury condo in Waikiki, that is similar to Trump. The value has not dropped much since 2006, they have dropped but it hasn't been huge. The problem is these people paid way more than the units were ever worth, about double. I am sure they thought in the time it took to build they would go up in value but it didn't happen. They should have checked the market Over 2 million for a non oceanfront condo is just way too much to pay. And anyone who read the sales brochure and had half a brain could have figured out Trump was not the developer, it clearly and Irongate was the developer.

A deal is a deal, sometimes you lose money, be smarter next time

jim Toronto

Troy, MI

#52 Sep 9, 2009
Having just got back from waikiki I must say.. for the life of me why on earth would anyone want to buy here.It is way back from the not so nice beach,busy sreets ,homeless people ,prostitutes,crime,inflated prices. Crazy. I'd walk too if I could. Enjoy paridise...
Noisy

Honolulu, HI

#53 Sep 10, 2009
I'm sure these condos have central AC so there won't be any need to open the windows, unless you wanna enjoy the lanai.

The Trump condo is right next to one of the busiest and noisiest areas in Waikiki, right where a lot of big, tourist buses and City buses travel every day.

Just make sure the unit you buy is on the other side of that street.

It's where two main streets meet, by the Halekulani hotel.
Noisy

Honolulu, HI

#54 Sep 10, 2009
surfer dude honolulu wrote:
<quoted text>
This is not like purchasing stocks. I call sell my entire portfolio in 5 minutes and have cash at the end of the day. Can you do that with your investment property? NO WAY.
You are not seeing the big picture surfer dude.

The person who says he or she bought a unit at Trump has $350,000 to invest.

It sounds to me that they have a LOT of money.

I'm sure they aren't sweating and worrying about the economy or the loss in value of their condo unit that they bought.

All they have to do is WAIT, and one day the value of that unit will be worth much more than what they paid.

Must be nice to be in that position, don't you think?

Poi Boy

AOL

#55 Sep 10, 2009
No beeg ting!!!!!!!!
AmericanGuy

Honolulu, HI

#56 Sep 10, 2009
Looks like the local "prestige hunters" got scammed by the Cali guys using a new yorker as bait.

Even though the building is the most up top date in the area, all of this "tourist zone" of Waikiki is a dump,

Its all downhill from here and in 4 years the re prices wil be at 40% of todays value.

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