"Every real estate developer everywhere does this" says Kevin O'Leary reacts to Trump civil fraud case

[pknopp]

and that is why he added the clause in the statement that all claims may not be accurate and the lender needs to do due diligence,,

no crime was committed,,

And yet the judge has already acknowledged there was.

 

[Stormy Daniels]

Watch Kevin O'Leary reaction to Trump's New York civil fraud case by the CNN reporter:


"Well, let's leave out Trump for a minute, and let's leave out politics, and just talk about what happens in real estate development anywhere.
So, if you're a developer and you've got a building on the block, anywhere in America, and it's worth, let's say, $500 million, and you want to build a building right beside it, you go to the bank and say, "This building is worth $500 million. I'd like to borrow a construction finance loan against this asset, and I want you to tell me it's worth $500 million too."
And by the way, forget about Trump, every single real estate developer everywhere on earth does this.
They always talk about their asset being worth a lot and the bank says no. That's just the way it is.
So in this case, what I'm trying to figure out, and I'm not pro or con, or I don't care about the politics, who lost money?
Nobody. The bank got paid back the construction finance loan, and a new building was built.

And O'Leary goes on...
If you're going to sue this case and win, you've gotta sue every real estate developer everywhere. This is all they do.
This is what they do all day long every day.
So I don't think this thing will ever survive appeal regardless of what the fine is. This doesn't even make sense.

Now Those of you that aren't aware of this, let's put this into something you can comprehend.
In Dallas, Texas this property has a Zillow Market value of as high as $29.36M...

But the city of Dallas says the "Taxable Value" value for tax appraisal for the city, School,College, Hospital,

View attachment 887755

So as O'Leary states... "Every real estate developer everywhere does this':
Market value:

Real Estate & Homes For Sale - 42610 Homes For Sale | Zillow

Zillow has 42610 homes for sale. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place.

www.zillow.com

Start now Home value Zestimate $21,745,900 Zestimate range $15.87M - $29.36M Last 30-day change
Highest Market value of this property: $29,360,000
Tax value of this property: the most: $18,923,660
A 64% of market value...

So in the Trump case using the same ratios Trump has done as O'Leary says..
"every single real estate developer everywhere on earth does this. "

Actually, the banks lost money in the form of interest, if they were conned into a lower risk assessment than would otherwise have been the case, resulting in a lower interest rate.

The taxpayers also lost money if Donald dodged taxes by undervaluing his properties.

This really isn't difficult, folks.

 

[progressive hunter]

And yet the judge has already acknowledged there was.

one person with clear bias does not a crime make,,

the lender was happy with the deal,,

 

[Magnus]

Watch Kevin O'Leary reaction to Trump's New York civil fraud case by the CNN reporter:


...

So in the Trump case using the same ratios Trump has done as O'Leary says..
"every single real estate developer everywhere on earth does this. "

LOL This defense is similar to the one I used when I got a speeding ticket. Everybody goes at 80 miles an hour, officer...how come you are singling only poor me out...?

Yeah, you guessed right. It didn't work. I still had to pay the fine. So, yeah. Let the orange douchebag's defense team try this out on the judge. Let's see how far they go with it.

Here's a good video on what to expect...

 

[pknopp]

one person with clear bias does not a crime make,,

the lender was happy with the deal,,

The lenders were happy with making horrible loans which led to a crashing economy also. I noted already that the bank should be charged also.

The laws aren't necessarily there to protect the banks but rather the people when things go bad.

 

[progressive hunter]

The lenders were happy with making horrible loans which led to a crashing economy also. I noted already that the bank should be charged also.

The laws aren't necessarily there to protect the banks but rather the people when things go bad.

youre admitting its a political prosecution,,

 

[Rogue AI]

So what? O'Leary just blew the whistle that the real estate market is run by developers who are all committng fraud, along with Wall St. banksters. So Trump should be let off the hook?

Should we let all drug dealers & drug lords off the hook because most of them are getting away with it?

Go with that, satisfy your TDS rage. Meanwhile, if this lunacy stands, nobody will build a damn thing in NYC.

 

[pknopp]

youre admitting its a political prosecution,,

Again, that doesn't mean Trump isn't guilty and the court only rules on that.

 

[progressive hunter]

Again, that doesn't mean Trump isn't guilty and the court only rules on that.

guilty of what??

he estimated what he thought and told the lender it may not be accurate and they should do their own due diligence,,

 

[Foxfyre]

I know banks are in on the fraud. But guess who deregulated them? Their cronies like Trump & the Republican Party who's pockets are being lined by Wall St. banksters.

I call baloney. Whenever lawmakers on either side of the aisle fail in their responsibilities they should be called out but the Democrats have zero moral authority to accuse Republicans of anything when it comes to bank regulation.

George W. Bush warned Congress at least 25 separate times that the housing bubble was growing and they needed to act. Barney Frank and Chris Dodd were adamant that everything was fine and nothing needed to be done and the Democrats who were in power in both House and Senate in 2007 and 2008 refused to do anything.

Barney Frank Used Influence with Fannie Mae, the Failed Mortgage Giant Bailed Out by Taxpayers - Competitive Enterprise Institute

Former House Banking Committee Chairman Barney Frank (D-Mass.) tenaciously opposed efforts to reform Fannie Mae and Freddie Mac, the government-sponsored mortgage giants that were bailed out at a cost to taxpayers of between $148 billion and $363 billion. Now it turns out that he got his...

cei.org

Video: Democrats insist "nothing wrong" at Fannie Mae, Freddie Mac in 2004

hotair.com

 

[Kilroy2]

Watch Kevin O'Leary reaction to Trump's New York civil fraud case by the CNN reporter:


"Well, let's leave out Trump for a minute, and let's leave out politics, and just talk about what happens in real estate development anywhere.
So, if you're a developer and you've got a building on the block, anywhere in America, and it's worth, let's say, $500 million, and you want to build a building right beside it, you go to the bank and say, "This building is worth $500 million. I'd like to borrow a construction finance loan against this asset, and I want you to tell me it's worth $500 million too."
And by the way, forget about Trump, every single real estate developer everywhere on earth does this.
They always talk about their asset being worth a lot and the bank says no. That's just the way it is.
So in this case, what I'm trying to figure out, and I'm not pro or con, or I don't care about the politics, who lost money?
Nobody. The bank got paid back the construction finance loan, and a new building was built.

And O'Leary goes on...
If you're going to sue this case and win, you've gotta sue every real estate developer everywhere. This is all they do.
This is what they do all day long every day.
So I don't think this thing will ever survive appeal regardless of what the fine is. This doesn't even make sense.

Now Those of you that aren't aware of this, let's put this into something you can comprehend.
In Dallas, Texas this property has a Zillow Market value of as high as $29.36M...

But the city of Dallas says the "Taxable Value" value for tax appraisal for the city, School,College, Hospital,

View attachment 887755

So as O'Leary states... "Every real estate developer everywhere does this':
Market value:

Real Estate & Homes For Sale - 42610 Homes For Sale | Zillow

Zillow has 42610 homes for sale. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place.

www.zillow.com

Start now Home value Zestimate $21,745,900 Zestimate range $15.87M - $29.36M Last 30-day change
Highest Market value of this property: $29,360,000
Tax value of this property: the most: $18,923,660
A 64% of market value...

So in the Trump case using the same ratios Trump has done as O'Leary says..
"every single real estate developer everywhere on earth does this. "

A 64% of market value

Trumps did an overvaluation of at least 2,300%

HOW MUCH and is it reasonable is the question.

If someone steal 5 dollars then it can be said that it is stealing. Yet is it worth going to court over that amount. Punishment would be minimal


IF they stole 5,000 dollars then yeah they are going to court. punishment would be more

Yes market value is what someone would be willing to pay

Appraisal value is what is reasonable for tax purposes. It also is done in cycle like every 5 years depending on the state or county.

Damage roof may not affect appraisal as it can be fixed at a later date or reevaluated in the next cycle'.

Yet this would affect the buyer and how much he would pay.

 

[pknopp]

guilty of what??

he estimated what he thought and told the lender it may not be accurate and they should do their own due diligence,,

He knew what the size of his properties were. Argue it with the judge, not me.

 

[progressive hunter]

He knew what the size of his properties were. Argue it with the judge, not me.

judge didnt allow him to argue anything,,

if he did the clause of saying numbers may niot be accurate and they should do their own due diligence would have ended this,,

 

[pknopp]

judge didnt allow him to argue anything,,

Of course he did. He didn't allow him to rant and rave and call people names.

if he did the clause of saying numbers may niot be accurate and they should do their own due diligence would have ended this,,

I already covered this.

 

[Orangecat]

Nearly everyone runs over the speed limit but if you get nailed, you are going to pay the fine.

Next up for the useful idiots: Trump is disqualified because he drove 28mph in a 25mph zone!!!!1!11!!

 

[healthmyths]

LOL This defense is similar to the one I used when I got a speeding ticket. Everybody goes at 80 miles an hour, officer...how come you are singling only poor me out...?

Yeah, you guessed right. It didn't work. I still had to pay the fine. So, yeah. Let the orange douchebag's defense team try this out on the judge. Let's see how far they go with it.

Here's a good video on what to expect...

Your analogy with speeding is what we call a "straw man"...
Is there a law that says for example.."I have ideas worth $10 million" and if you believe they are great, please lend me $5 million." Now what is against the law for that?
You are responsible for determining what the value is based on facts you have but still ultimately YOU decide!
Now driving above the speed limit is a law you are caught violating.
Two different issues.
Tell me the law that people like Trump broke by advising you to do your own evaluations.
If the lenders historically have accepted what Trump has done, they will accept based on history.

 

[pknopp]

Next up for the useful idiots: Trump is disqualified because he drove 28mph in a 25mph zone!!!!1!11!!

I can't imagine him getting disqualified over this charge.

 

[Mac1958]

So Trump should be let off the hook?

Always. No matter what, always.

He's the victim. Always.

 

[healthmyths]

A 64% of market value

Trumps did an overvaluation of at least 2,300%

HOW MUCH and is it reasonable is the question.

If someone steal 5 dollars then it can be said that it is stealing. Yet is it worth going to court over that amount. Punishment would be minimal


IF they stole 5,000 dollars then yeah they are going to court. punishment would be more

Yes market value is what someone would be willing to pay

Appraisal value is what is reasonable for tax purposes. It also is done in cycle like every 5 years depending on the state or county.

Damage roof may not affect appraisal as it can be fixed at a later date or reevaluated in the next cycle'.

Yet this would affect the buyer and how much he would pay.

The property you and other idiots claim were from this article...
https://www.cnn.com/2023/10/03/business/trump-fraud-judge-mar-a-lago/index.html
" value of his Mar-a-Lago estate by an eye-popping 2,300%."

"But the Mar-a-Lago finding in particular is raising eyebrows among real estate and legal experts because of the metric Judge Engoron relied on: the county tax assessor’s appraisal value."
“From 2011-2021, the Palm Beach County Assessor appraised the market value of Mar-a-Lago at between $18 million and $27.6 million,” Engoron wrote in his ruling.

The judge noted Trump valued Mar-a-Lago at between $426.5 million and $612 million, “an overvaluation of at least 2,300%, compared to the assessor’s appraisal.”

But it’s widely known that the tax assessor valuation is typically, though not always, less than what a property would command on the open market.
In other words, it’s not an apples-to-apples comparison.
“Appraisal values and market values are just not the same thing. It’s a well-known fact,” said Eli Beracha, chair of the school of real estate at Florida International University. “That’s especially true for properties that are unique. And it’s very easy to argue this is a unique property.

HEY KILROY2!!! Evidently you don't know that "Appraisal values and market values are just not the same thing. It’s a well-known fact,"!!!!

And the above expert says this about YOU and other ignorant people including that idiot Judge that voted for
Biden!!!
Dina Goldentayer, executive director of sales at Douglas Elliman in South Florida, said in her experience in the ultra-luxury marketplace the tax assessor’s valuation isn’t considered when trying to value a property.
He wouldn’t make a very good realtor,” Goldentayer said of the judge. “It’s so widely known that it’s not an accurate determination of market value.”

Finally, evidently you aren't aware that:
A nearby vacant lot (2.3 acres) is for sale on Zillow for $200 million," John LeFevre, a former investment banker who created the Goldman Sachs Elevator social media account, wrote alongside a screengrab of the listing. "Mar-a-Lago sits on 17 acres, with waterfront on both sides."

He added: "The primary point is this: The lending bank is required to get a valuation from a third party to cover its LTV calculation. No one had an issue with any of this. Everyone made money...Until an activist [District Attorney] came along decades later," a reference to Letitia James, who brought the case.

How much is Mar-a-Lago worth? Valuation of Trump property raises questions

The disparity between the former president's valuation of his Florida estate and that of a local assessor has prompted speculation as to its true worth.

www.newsweek.com

So if a nearby lot 2.3 acres sold for $86 million per acre...hmmm.. 17 acres would be $1,478,260,870 !
And evidently you are not smart enough ... $1,478,260,870 is $1.478 Billion! Nearly 50% more than
that Trump valued Mar-a-Lago as high as $739 million —

Is Mar-a-Lago worth $1 billion? Trump's winter home valuations are at the core of his fraud trial

How much is Donald Trump’s Mar-a-Lago worth? That’s now a point of contention after a New York judge ruled that the former president exaggerated the Florida property’s value when he said it is worth at least $420 million.

apnews.com

But again... Please provide your proof that this is a crime!

 

[22lcidw]

I call baloney. Whenever lawmakers on either side of the aisle fail in their responsibilities they should be called out but the Democrats have zero moral authority to accuse Republicans of anything when it comes to bank regulation.

George W. Bush warned Congress at least 25 separate times that the housing bubble was growing and they needed to act. Barney Frank and Chris Dodd were adamant that everything was fine and nothing needed to be done and the Democrats who were in power in both House and Senate in 2007 and 2008 refused to do anything.

Barney Frank Used Influence with Fannie Mae, the Failed Mortgage Giant Bailed Out by Taxpayers - Competitive Enterprise Institute

Former House Banking Committee Chairman Barney Frank (D-Mass.) tenaciously opposed efforts to reform Fannie Mae and Freddie Mac, the government-sponsored mortgage giants that were bailed out at a cost to taxpayers of between $148 billion and $363 billion. Now it turns out that he got his...

cei.org

Video: Democrats insist "nothing wrong" at Fannie Mae, Freddie Mac in 2004

hotair.com

Frank helped to hurt a lot of people who played by the rules.