Excerpt From: Think Like A
Donald Trump – one of the most well recognized and successful real estate investors and developers world wide – comments on the importance and usefulness of mortgage brokers in his latest book Think Like a Billionaire.
In this book Donald recommends the following for real estate financing advice:
“A good way to get a mortgage is to pass the buck to somebody else. Shopping around and comparing mortgages can be time-consuming, so it may save you time to pay someone to do your shopping for you. Get a mortgage broker, but get a good one. These people are engaged daily in the world of mortgages, which means that they have to know where to get the best rates, who is offering the best conditions, and generally, where it’s advantageous to apply.
“In the long run, you will probably pay less for everything if you get a good mortgage broker, since the broker will know what kind of hidden charges there are and steer you clear of various problems. Not only that, but mortgage companies want to keep in the good graces of anyone who is in the habit of referring business to them. There are certainly technical considerations, such as the length of the mortgage, whether guarantees are involved, conditions of default and all kinds of other things that a mortgage broker and a good attorney will inform you about.”1
Our team has great respect for Donald Trump’s arguably unparalleled track record of resilient success – despite numerous obstacles that would have overcome almost any other individual. We also want to let you know that we look forward to providing you with the same customer service and thorough expertise that we would extend to Mr. Trump himself should he ever seek out ‘a good’ Mortgage Broker in the GTA.
1. Excerpt taken from Donald Trump with Meredith McIver, Think Like A Billionaire, Random House, New York: 2004.
If you haven’t read it and take success seriously you should make a point of reading it soon!