The First Donald Trump for President Fan Group

Since February 10, 2011

District Of Columbia, United States 

Early success (1968–1989)Trump began his career at his father's company,[13] the Trump Organization, and initially concentrated on his father's preferred field of middle-class rental housing in Brooklyn, Queens and Staten Island. One of Donald's first projects, while he was still in college, was the revitalization of the foreclosed Swifton Village apartment complex in Cincinnati, Ohio, turning a 1200-unit complex with a 66 % vacancy rate to 100 % occupancy within a year. When the Trump Organization sold Swifton Village for $12 million, they cleared $6 million in profit.



Financial problems (1989–1997)By 1989, the effects of recession left Trump unable to meet loan payments. Trump financed the construction of his third casino, the $1 billion Taj Mahal, primarily with high-interest junk bonds. Although he shored up his businesses with additional loans and postponed interest payments, by 1991 increasing debt brought Trump to business bankruptcy[6] and the brink of personal bankruptcy. Banks and bond holders had lost hundreds of millions of dollars, but opted to restructure his debt to avoid the risk of losing more money in court. The Taj Mahal re-emerged from bankruptcy on October 5, 1991, with Trump ceding 50 % ownership in the casino to the original bondholders in exchange for lowered interest rates on the debt and more time to pay it off.

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