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Thu May 16, 2019, 06:34 PM

Last year Trump took out an $11 Million loan - while he was in office

Donald Trumpís latest personal financial disclosure was just released, showing that Trump, who already owed more money than any other president in history, borrowed millions more in 2018.

According to the disclosure, Trump borrowed between $5 million and $25 million from Professional Bank, a small Florida outfit that specializes in construction and real estate loans. He borrowed the money at 4.5 percent interest through a limited liability company called 1125 South Ocean LLC. The loan was used to finance the purchase of 1125 South Ocean Avenue, a mansion located next door to Trumpís Mar-a-Lago club and owned by the presidentís sister, Maryanne Trump Barry. Last year, Palm Beach-area newspapers reported that Trumpís sons, Donald Jr. and Eric, had purchased Barryís property for $18.5 million. But Trumpís financial disclosure indicates that in fact he controls the company behind the transaction. Though assets and liabilities are reported in ranges on financial disclosure forms, land records show that the value of Trumpís newest loan $11.2 million.

Read Trumpís 2018 financial disclosure here: https://www.motherjones.com/politics/2019/05/donald-trumps-latest-financial-disclosure-was-just-released/

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Reply Last year Trump took out an $11 Million loan - while he was in office (Original post)
DesertRat May 16 OP
dem4decades May 16 #1
smirkymonkey May 16 #2
DesertRat May 16 #3
Doodley May 16 #4
Dirty Socialist May 16 #5
DesertRat May 16 #6
soryang May 16 #7
soryang May 16 #8
soryang May 16 #9
TheBlackAdder May 16 #10

Response to DesertRat (Original post)

Thu May 16, 2019, 06:37 PM

1. Did he put up the White House House collateral?

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Response to DesertRat (Original post)

Thu May 16, 2019, 06:40 PM

2. Professional Bank?

What kind of operation is that?

They might as well call themselves "The Really Excellent, Very Honest Bank".

It sounds exactly like the place Trump would go.

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Response to smirkymonkey (Reply #2)

Thu May 16, 2019, 06:42 PM

3. I'd like to know more about that bank and the people that run it.

Who would loan him any money? What will they get out of it?

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Response to DesertRat (Original post)

Thu May 16, 2019, 06:47 PM

4. Why would somebody worth over 10 billion need to borrow 11 million?

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Response to Doodley (Reply #4)

Thu May 16, 2019, 06:55 PM

5. Good Question

I thought he was a fucking billionaire!

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Response to Doodley (Reply #4)

Thu May 16, 2019, 06:58 PM

6. It's the art of the deal

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Response to DesertRat (Original post)

Thu May 16, 2019, 09:00 PM

7. Palm Beach Daily News reported on this transaction last july.

Donald Trump Jr. and Eric Trump two months ago paid their aunt, federal appeals Judge Maryanne Trump Barry, $18.25 million for her eight-bedroom house at 1125 S. Ocean Blvd. The deed was recorded May 17 for the home, which stands next door to Mar-a-Lagoís Beach Club.
...
Bought for $18.5 million in May by a company controlled by Donald Trump Jr. and Eric Trump, this house at 1125 S. Ocean Blvd. near Mar-a-Lago is being marketed for lease at $100,000 per month, partially furnished, by Trump International Realty. Photo courtesy Trump International Realty

Courtesy Trump International Realty


https://www.palmbeachdailynews.com/business/real-estate/trump-owned-house-palm-beach-available-rent-for-100-000-month/c0ipLFyjNuQcckLLh6YH5L/

Sold by a Trump bought by a Trump listed by Trump org for rent in excess of 100k a month.

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Response to DesertRat (Original post)

Thu May 16, 2019, 09:16 PM

10. Wow! Isn't that like $4-5 Million more than what the RWers were crying about the Clintons exit debt?

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