In December, Fred Trump sells Swifton Village for $6.75 million, a nearly $6 million profit. He gives all of the credit (and most of the profit) to Donald, and they market the sell as Donald Trump’s first successful real estate deal.
In his book The Art Of The Deal, Donald takes credit for Fred’s investment in the complex too, even though he wasn’t even 18 at the time.
“In college, while my friends were reading the comics and the sports pages of newspapers, I was reading the listings of FHA foreclosures. And that’s how I found out about Swifton Village.”The Art of the Deal by Donald J. Trump
There is speculation that the profits from the sell actually amounted to about $500,000. The only way the Trumps could have made a $6 million profit is if they never paid the mortgage.
Too Much and Never Enough by Mary L. Trump, Ph.D., page 91
(Note: in the book, Swifton Village is referred to as Swifton Gardens.)
Photograph: Dennis Caruso/NY Daily News Archive via Getty Images