Hey, gang, it’s me, Dr. Steve. And you know, what can I say? The Democrats are at it again. Now. It looks like they’re gonna try to take possession of Trump’s properties. I kid you not. The ultra leftist MSNBC is salivating over the prospect of New York Attorney General Letitia James seizing Trump’s properties given his inability to secure a bond for the $464,000,000 civil judgment handed down against him by Judge and Goron.

Even Newsweek featured an article with the now disgraced attorney Michael Cohen, who claimed that all of Trump’s properties are now up for grabs. They’re all, in his words, quote, leveraged. So what’s going to happen to Trump’s properties? We’re here to discuss it and give us some clarity in all of this is real estate extraordinaire and founder of Commercial Academy J. Scott Shield. We’ve got several of our Turley talkers family joining Scott’s commercial academy.

They’ve been learning all about commercial real estate investing. Click on the link below to find out more. It’s amazing stuff. We’re talking life transforming stuff. Incredible. Scott, welcome back. Great to see you again. Dr. Steve, great to see you. Good to be back. And these are certainly insane, crazy and unprecedented times we’re dealing with today. They are, especially in your field of real estate. You are a leading expert on commercial real estate investing.

You’ve been watching this New York trial unfold for months now. Given the trial theatrics the left keeps throwing at Trump, how’s this going to affect him financially? Can they actually seize his properties? How do you think this is going to play out? Well, the way that it plays out is there’s several layers. Likely, obviously not being privy to their private entity structuring and the way that they would protect these assets along with the financing and who ultimately pulls the strings.

There’s a lot that needs to get done. I know they would like to say that it’s a slam dunk and that they’re just going to be able to step in and seize assets, but you’re talking about a roster of investors. There’s likely a fairly long list of folks who would be irreparably harmed by that sort of action. And the component of that is that they’ve got to deal with everybody fairly.

So it’s not as if this would be an asset that is likely 100% owned by Donald J. Trump personally. That’s just really implausible, especially with assets of this size, stature, nature, complexity, finance. There’s still debt on them even though the loans that were in question are paid off, there’s some new debt on there. There’s no doubt about it. Rarely would anybody prudently hold onto an asset with no leverage, because you’re not earning any money on the equity.

So, by way of a quick example, if you owned a building like, say, Donald Trump, and it was 100 million dollar asset, the value of that asset is going up and down, no matter what you’re doing with it. So if it went up, let’s say, 5% a year, conservatively, this year it’s worth 100 million. Next year it’s worth 105,000,000. That’s great. But if you had no debt on it, if you didn’t pull any of that cash off the table, that means you’d literally have $100 million earning a 0% return.

And that doesn’t make sense. So you would safely pull $50 million off of that, and you’d put that somewhere else, and then that would perform. But besides that, even if he owned 100% of them, there is zero chance that these assets are owned 100% in his personal name. So they’re talking about piercing corporate veils. They’re talking about invading the entities. They’re talking about serious actions that have to go through many levels of court and trial.

And to sum it up, because I know we’re on a little bit of a tight timeline, and we can dig in deeper should you deem it appropriate. This ends up in the Supreme Court, there’s almost no doubt about it. It gets appealed on every level. I know that there was recent scuttlebutt about the fact that Donald Trump and his organization has thus far been unable to procure the bond necessary to protect the assets that are potentially at, you know, that’s only one step, and that’s only one layer.

There’s other scuttlebutt that says that he won’t be able to file an appeal unless he bonds it out. And unfortunately, when you’re involved in real estate, especially dealing with the public and dealing with corporations ending up and banks ending up, let’s say, in a courtroom, is not unusual. And I have never seen anybody not be able to appeal a case simply because they couldn’t pay off a judgment from an opinion from a lower court.

So that doesn’t seem plausible either. But they’re pulling out all the stops. Yeah. Have you seen anything like this before? Never happened? No. Yes, and no one has seen it. And regardless of what they tell you, they’re making that up because it is unprecedented that there is no damages, there are no victims. And you’re going back and you’re criticizing what is an appraisal, which is merely an opinion of value.

And opinions of value are just exactly that. They’re opinions. They have to be validated by other folks opinions. And that is what ultimately carries the day when you get an approval in, let’s say, a credit department or a loan office of an institution. So look, the banks agreed that the appraisers numbers were right. The lender agreed that it was fair. The borrower agreed that it was fair. They went out, they secured the financing, they executed with that financing, and then ultimately they paid out timely.

There was no insinuation that there was lost proceeds, late payments, short sales, any of those things. They wanted to do business with them. Again, profitable clients. So this ripples and shivers up the spines of everybody who’s in commercial real estate, really nationwide, but specifically within the state of New York. This is going to hurt them dramatically for quite a long period of time. That’s what I wanted to follow up with you on, because right after the decision, Kevin O’Leary came out and warned New York, this is going to cripple your real estate market.

Grant Cardone actually went out and said, don’t invest in New York. He was very adamant about it. What do you think are going to be the effects of this decision on the New York real estate market? Well, it’s already in trouble. The New York real estate market’s already been hurting. AI has got everybody quaking in their boots, as far know, the size of staffs, and you can see the cuts already coming.

People have really not returned back to the office corridor. And realistically, the real estate in New York was housing for job market. It was retail in support of business and commerce. And then it was the office space for folks who were really, let’s say, the momentum and the inertia behind all of the rest of it. So inflation has hurt, energy policy has hurt, taxation has hurt, expense passings have hurt, banking, the increase in interest rates have hurt.

Those things in and of themselves would have been bad enough. And then you throw COVID in with the vacancies. I mean, right now, without the government propping up occupancies in the hospitality industry in New York by renting them out for illegals, yeah, they’d already be devastated. The marketplace up there, it’s gloomy. Don’t bet against New York long term, but short term, the folks that are running the operation up there are really doing themselves a lot of harm.

Now the second quick little piece to that is to say that as an outside investor, somebody who invests really nationwide and has done deals in New York and around, let’s say, the greater metropolitan area, even leeching into some of the other states, this hurts because, you know, ultimately that even if you’re out of a deal, you’re never safe. They can now start to go back and undermine commerce.

And what this really is is an attack on our way of life, our economic system of know if somebody makes too much money. We were talking, I think, before we got know we don’t like what Elon Musk did. So we’re just going to go ahead and claw back his compensation package after the fact. These are truly clawing at the heart of capitalism, and that’s really where we’re concerned.

Commercial real estate in and of itself is coming into major headwinds. The wall of maturities, the trillions of dollars that are coming due, the turnover in leases. We’re acquiring financed assets from REITs and from CMBS debt at two and $0. 03 on the dollar right now. It’s never been like this and it’s only just begun. And New York being, let’s say, the former 800 pound gorilla with all that office, all that hospitality, reliant so much on the job market, it’s going to be hard pressed to attract new business.

Think of what AOC did when she rejected Amazon. Amazon, yeah, I remember that. Yeah. Crazy. And then she gets reelected. You’re kind of like people. Do you understand what you’re doing, right? Yeah. Yeah, it is. It’s crazy. Yeah. She costs them jobs and they say, okay, do it again. That’s just so od. Yeah. It just seems so strange to me that I was in Chicago not too long ago, and I noticed when they had their brand new mayor, Brandon Johnson, radical.

You know, they had a choice. They had a runoff, a Democrat runoff, and it was basically a pretty sane law and order Democrat versus real radical kind of BLM Democrat. And they voted in the radical BLM Democrat. And I read about the political coalition that voted them in. And Scott, it’s not just sort of the, quote, underclass who kind of fall victim to a lot of that sort of marxist talk.

It’s the upper class. It’s the white echelon upper class. Then they form this coalition, this woke coalition, and then Tyson foods and Caterpillar, they all leave. They all take off because of the anarcho tyranny that takes over where law abiding citizens get written up, $100 fines because they’re 10 seconds over the parking meter, but the guy right next to him is taking a crap on the homeless guy, taking a crap on the sidewalk, shooting his veins up with heroin.

They leave him alone. They can’t stand it anymore. And it just seems so odd how self inflicted this is, especially in these blue states. Well, what I would say to that, and you and I have had a lot of these conversations over the last several years, is it’s really not self inflicted. What we have is we have wolves in sheep’s clothing that are masquerading as patriotic Americans who care about our way of life and want to preserve it.

And look, I mean, we’re a nation of immigrants. There’s no doubt about it. Go back several generations. And that’s our story as well. I know that’s the story really, for all of us. And so the idea is responsible immigration and cultural assimilation, right. We want to keep our heritage. We want to keep our traditions. We want to keep our family recipes and all of those things. But the way that it always has been is that, but when you’re out in the streets, you’ve got to follow the way that things are done in the communities in which you live and for whatever reason, and there is a real reason, and I’m not going to take up our time during this financial segment to distract your viewers, but the idea for me is that we have a Trojan horse, and it isn’t TikTok.

TikTok is its own animal. But I don’t believe really that much in any of the, quote unquote, us based organizations any more than I think they’re sharing our data with. You know, they know, they try and do their, you know, they’re all watching every step we make. And there’s no doubt about it, we are dealing with a technocracy. And I think that there’s another level beyond, let’s say, sovereign nations of control that is being rested right now and strong us doesn’t serve that agenda.

It really can’t. Right. So as citizens, I think it’s incumbent upon us to continue to raise our voices, to demand free and fair elections and to make sure that only those who are paying their way, not meaning that folks who were born here and are naturalized citizens can’t be represented. But look, you’ve got to have a stake in the game, right? You can’t not be a citizen and start voting.

And to the extent that we get the ability to, our ability to, as taxpayers, get our representative elected officials to insist that our tax dollars both today and the ones that we’re spending well into the future. The trillions and trillions of dollars were thrown around start to serve domestic interests, but not just because there’s some ethereal vein or thread that runs through Ukraine and all of these other locations.

Of course, we have international interests, but when so many are suffering here at home and our way of life and our banking system is at risk, the dollars that are being thrown around for stimulus and for foreign aid are the very dollars that can rebuild our infrastructure, can create real jobs at home and beyond that can ultimately save some of the assets that have been thrown into the middle of traffic during COVID Yeah, no, absolutely.

I actually want to talk to you about bringing this home, as it were, in terms of how real estate in many respects functions. Precisely what you’re talking about, again, what I love about real estate is it’s spatialization. I don’t think it is coincidence that Trump is also a real. He’s a real estate mogul and a nationalist populist, meaning he loves nation, he loves culture, he loves space and region and so forth.

Because it’s real estate. It’s not pie in the sky kind of is. It’s real money in real time, in real space and the know. I’ve told you, we’ve had several Turley talkers join commercial Academy. They’ve loved it. I know one in particular who ended up moving from a hardcore blue state right around New York to a real solid red state. She used her real estate principles to find her dream home.

Amazing stuff. And gang, if you’re interested, make sure to click on the link below. Check out commercial academy. You can join as well. You’ll love it. Just for us, personally, I’m curious on how real estate investments create financial security. At the same time, it creates a kind of domestic security in our economy. It seems like real estate is just this timeless value that people have tapped into for thousands of years.

And it’s not only able to provide a legacy for your family, it’s also able to provide some financial stability to your nation or to your town or what have you as well. It blesses you and it blesses those all around you. Yeah, there’s no doubt about it. Well, the first way that I like to talk about is it’s a fixed asset. It’s really an asset, and it’s tangible, as you mentioned, so you can improve it without needing anybody else to, let’s say bless that, right? You’re dealing with a stock or if you’re dealing with a cryptocurrency or let’s say you’re dealing with a bond, those things are subject to forces and factors that really are very largely out of your control.

But in commercial real estate, and in real estate in general, it’s a fixed asset, and something as simple as a coat of paint can really improve it, right? So little things like that, and then it’s insurable, and then it’s leverageable. So your ability to control 100% of the asset and maybe allow between the bank and a couple of partners to bring 80, 90, 95% of the proceeds necessary to acquire it, now allows you to go ahead and create incremental value.

So if I’m able to improve that asset, let’s say over two years, I improve the value of that asset by 20%, which is not crazy, 10% a year. Over two years, I’ve taken my 5% and I’ve compounded that on the 100% value by 20%, which means I’ve really four Xed my money. So that leverage is something that really isn’t available in those other assets that we’ve talked about.

I know some folks got into specking cryptocurrency, and that didn’t panned out too well for them. But the values that are able to be acquired today in the marketplace is truly, not only is it unprecedented, but there is additional shelters that are available for taxes based upon our current. Again, it’s easy to attract investment capital. And once people get the understanding and get into an environment where people are used to investing dollars into those fixed assets, you now give yourself a little bit of a Runway, and you’ll not only make money when you operate, you make money.

Usually when you set the deal up, you’ll get cash flow along the way. And then those big paydays come at the end, either when you sell the asset or you refinance the asset if it’s done through refinance proceeds, because it’s a loan that’ll usually get paid back by your tenants, dozens or hundreds of them. It’s tax free. So you get the time value of money today, you get to use it today.

And gosh knows the way that they’re driving inflation up and up and up. Time value of money matters, so you’re able to buy cheap with leverage and defer taxes. That’s a tough trio. We talk about the way you can improve communities. That’s real. And there are many municipal incentives available that would allow you to, let’s freeze property taxes based upon jobs that will be created by new tenants that you may be bringing to the market.

So there’s so many of those things that are going on right now. We’ve never been more excited. I’m a bit of a contrarian, as you know. When things are overheated, I tend to be extremely cautious. And now that things have cooled down a little bit and there’s a little bit of uncertainty depending on the watershed of the election, that’s when I tend to get a little more aggressive.

And we’ve been really fortunate over the course of the last six months, picking up nearly a million square feet of additional space. Wow. At incredible values, class A assets, class A markets, and then the leasing momentum has really been there. And last piece that I’ll say is a lot of people were really worried because interest rates were starting to trend towards 9% even on stabilized assets middle of last year, and today we’re back in the upper sixes.

So that’s been a little bit of relief, which has kind of helped spur things on. And most of the big boys, they’re dealing with legacy assets that they probably got over leveraged on. Yeah. Can you give us a little insight, a little behind the scenes, your commercial academy. So again, if you just click on the link below, you’re going to be able to register for this. Can you dive in a little bit and talk more about what Turley talkers could expect from you there at the.

Listen, you know, Steve, we’ve talked about it this way and appreciate the opportunity to talk about it. We believe that the currency has a little bit of risk to it. There’s no doubt about it. We believe whether it’s inflation, whether know, bricks or cryptocurrency or XRP or CBDCs, you name it, there’s just a lot of risks there. And so at the course academy, we teach people how to take even a small amount of investment dollars today and get it fixed into an inflation resistant asset class.

So by buying in today, you get that. So we teach you how to evaluate it. We teach you how to put together a team to take it down. We can allow you to come in passively or actively. You’re going to learn how to do deals in your own backyard. You’re going to learn how to deal in office, retail, apartments, industrial assets and all of those asset classes. We have experts in nearly every state in the union, throughout Canada, and in over 30 countries around the world where we’re going to be able to show you how that asset behaves in that marketplace over the course of one three day weekend, you’re going to learn a ton.

It’s case study based. We break the stuff down to make it real simple. It’s only a couple of numbers, about six or seven numbers in a straight column. And it’s simple addition and then a little bit of division or multiplication. And now you understand whether it’s worth your time. And we also teach people to start appropriately. You don’t have to get into some massive asset to break the mold, but it’s something that people can do in their spare time without leaving the security of their present financial, let’s say, engines.

Whether that’s a job, a small business, you can add this component to what you’re already doing, just two to 5 hours a week. And we always tell people it only takes one deal, one time to change their life forever. And what we’re talking about is in twelve months, either a quarter million to a million dollars in profit on that first deal, and that’s real. And that’s happening and happened in the lives of tens of thousands of our clients over the last 20 years.

Astonishing. It is. And I’ve only heard magic from it. Gang, if you’re considering taking this courageous step into commercial real estate investing for the security and legacy it provides for your family and for your community, click on the link in the video description below to join Scott Shields Commercial Academy again, we’ve had so many Turley talkers try out Scott’s program and they love their lives. I mean they are so well received into our environment.

I mean it’s capitalist know, we believe in the sovereignty of nations, we believe in the sanctity of the individual who puts in the effort and takes the risk reaping the rewards. And we also know that there’s no way in hell we’re going to let this nation slip away under our watch. That’s right. Amen. I love it. Absolutely. Click on that link. Gang. You’re going to love trust Scott and his expertise and his amazing track record to teach you exactly what you need to do to thrive even during times like these.

So don’t hesitate to join. As a matter of fact, you just heard Scott, these times are actually the best to get involved. So check out commercial academy. You will not be disappointed. Scott, thanks so much for helping to bring some clarity this crazy, insane time. We’ll have you back real soon, man. I’m looking forward to it. And again, everybody out there, don’t be afraid. In the end, we win.

Know that we win. Amen. God bless. Great to you, sir. .

See more of Dr. Steve Turley on their Public Channel and the MPN Dr. Steve Turley channel.