Donald Trump may fall in love with Greenland. Taxpayers, beware.

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When real estate mogul Donald Trump falls in love with real estate, things do not always go as well. Now that he is president and seems to be falling in love with the idea of ​​buying Greenland – or at least talking about it – it's a good time to go back to the billionaire's transaction history to see how this purchase could take place.

In the past, his goal was glory and money. But as head of the United States, this negotiation is much more serious. Military strategy, geopolitical failures and cultural balance between East and West. Since the day he climbed the Trump Tower escalator in Manhattan, Trump clearly explained what was going on to declare his candidacy for the presidency: he is a businessman, and his presidency would only be no different.

"Other people paint beautifully on the canvas or write wonderful poetry," he writes in & nbsp;The art of the deal. "I like doing business, preferably big business. That's how I get my kicks. "

When reports He said last week that he had asked councilors to consider buying the largest island in the world, many thought it was & nbsp;a weird joke. The passionate golf president may not have realized that Greenland, which is 80% ice-covered, not really green at all?

Over the weekend, however, Trump confirmed that he would really consider making an offer, telling reporters, "It's essentially an important real estate transaction," and claiming a vague strategic interest.

"This could be a legacy," CNO Jack O Donnell, former president and chief operating officer of Trump Plaza Casino in Atlantic City, told CNN yesterday. But unlike Trump's past glorious shots, made with bank money, it would be funded by taxpayers and would be considered a big one by all.

So what success could it have? We do not know immediately what strategic advantages he has after or how much he would be willing to pay to acquire them. It is also hard to know who else might be the candidate and if he would do it he had to compete with other interested buyers.

China, the biggest economic adversary in the United States, would clearly like to locate in North America, and trade negotiations are not going smoothly after more than two years of talks. Trump is much closer to Russia, it seems, but given his history with President Putin, it may not work as well.

Then there is state trading of sovereign land. This market has dried up a century ago, but Trump, the negotiator, has embarked on the search for trophies in real estate, and, although he has experienced failures colossal, significant gains were also recorded. He knows very well that the success of a real estate investment depends almost entirely on what you paid for it. He also seems to believe that everything has a price, even the countries.

And this one could be a huge one: Considering the behavior of Harry Truman & nbsp;1946 Proposal& nbsp; buy the island for $ 100 million, or $ 1.4 billion today, did not succeed, this price seems unlikely. In 1867, when the United States bought Alaska to the Russian empire for $ 7.2 million, Alaska failed to get a realistic figure. However, it was a market, as it valued the state at $ 130 million in current dollars, or $ 220 per square mile. This would give Greenland a value of about $ 184 million.

Valuing it as a public company, the Washington Post $ 1.7 billion – price of gross domestic product converted to gross domestic product and use of Amazon's maximum price / earnings ratio of 847.

The private real estate market may offer a more realistic starting point, although the untapped value of oil and mineral reserves is an advantage if sellers are shrewd enough to ask for them. And since the current owner of the property, Denmark, and the Greenlanders he subsidizes have already said noChances are they'll be clever about this one.

So take a look at Pebble. One of the largest private islands in the world is currently on the market for $ 1.33 million. At only 41 square miles, the island is orders of magnitude lower than those of Greenland (836,330). But in the Falkland Islands, near the South Pole, it's an excellent comp. The $ 32,000 per square mile retail price of Pebble would give Greenland a value of about $ 27 billion.

Which brings us back to assessing Trump's chances of success.

In 1995, he acquired a ground lease on 40 Wall Street, a Manhattan office tower across from the New York Stock Exchange. The 72-storey building was the ideal feather for an ambitious real estate developer: a historic monument, with a distinctive green roof, which was built to be the tallest in the world. It is important to note that for Trump, who was still trying to get back from his first bankruptcy in Atlantic City, 40 Wall was also very cheap.

In the grip of a link with the authoritarian dictator of the Philippines, Ferdinand Marcos, the building had been vacant for years. Trump claimed to have paid only $ 1 million for the ground lease, which runs up to 2059. The actual purchase price was probably a bit higher, but that makes little difference . The building generated net income of $ 21 million last year, and Forbes thinks it's worth it $ 338 million, net of debt.

His short-term ownership of the Plaza Hotel, however, is a very different story. With the hotel located a few blocks from his beloved Trump Tower, he could see it from his window and became obsessed to own it.

In 1988, he agreed to pay $ 407.5 million. The iconic building was well located on Central Park, but required major renovations. Trump did not care, saying at the time that he was in "lover. "Seven years later, the Plaza had declared bankruptcy and sold $ 83 million less than Trump had paid.

"I think most New Yorkers were horrified by the fact that Donald Trump owns the Plaza, thinking it would make him flicker in his style and ruin this iconic building," O says. Donnell to CNN. "The more he heard that, the more he wanted it, and eventually because of that, he ended up paying twice the value of the property, and he went bankrupt after buying it."

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When real estate mogul Donald Trump falls in love with real estate, things do not always go as well. Now that he is president and seems to be falling in love with the idea of ​​buying Greenland – or at least talking about it – it's a good time to go back to the billionaire's transaction history to see how this purchase could take place.

In the past, his goal was glory and money. But as head of the United States, this negotiation is much more serious. Military strategy, geopolitical failures and cultural balance between East and West. Since the day he climbed the Trump Tower escalator in Manhattan, Trump clearly explained what was going on to declare his candidacy for the presidency: he is a businessman, and his presidency would only be no different.

"Other people paint beautifully on the canvas or write wonderful poetry" The art of the deal. "I like doing business, preferably big business. That's how I get my kicks. "

Last week, when he learned that he had asked councilors to consider buying the largest island in the world, many had assumed it was a weird joke. The president who loves golf may not have realized that Greenland was not really ecological because it was 80% ice covered.

Over the weekend, however, Trump confirmed that he would really consider making an offer, telling reporters, "It's essentially an important real estate transaction," and claiming a vague strategic interest.

"This could be a legacy," CNO Jack O Donnell, former president and chief operating officer of Trump Plaza Casino in Atlantic City, told CNN yesterday. But unlike Trump's past glorious shots, made with bank money, it would be funded by taxpayers and would be considered a big one by all.

So what success could it have? We do not know immediately what strategic advantages he has after or how much he would be willing to pay to acquire them. It is also hard to know who else might be the candidate and if he would do it he had to compete with other interested buyers.

China, the biggest economic adversary in the United States, would clearly like to locate in North America, and trade negotiations are not going smoothly after more than two years of talks. Trump is much closer to Russia, it seems, but given his history with President Putin, it may not work as well.

Then there is state trading of sovereign land. This market has dried up a century ago, but Trump, the negotiator, has embarked on the search for trophies in real estate, and, although he has experienced failures colossal, significant gains were also recorded. He knows very well that the success of a real estate investment depends almost entirely on what you paid for it. He also seems to believe that everything has a price, even the countries.

And this one could be a huge one: Considering that Harry Truman's proposal in 1946 to buy the island for $ 100 million, which would amount to $ 1.4 billion today, was unsuccessful , this price seems unlikely. In 1867, when the United States bought Alaska to the Russian empire for $ 7.2 million, Alaska failed to get a realistic figure. However, it was a market, as it valued the state at $ 130 million in current dollars, or $ 220 per square mile. This would give Greenland a value of about $ 184 million.

Valuing it as a public company, the Washington Post $ 1.7 billion – price of gross domestic product converted to gross domestic product and use of Amazon's maximum price / earnings ratio of 847.

The private real estate market may offer a more realistic starting point, although the untapped value of oil and mineral reserves is an advantage if sellers are shrewd enough to ask for them. And since the current owner of the property, Denmark, and the Greenlanders he subsidizes have already said noChances are they'll be clever about this one.

So take a look at Pebble. One of the largest private islands in the world is currently on the market for $ 1.33 million. At only 41 square miles, the island is orders of magnitude lower than those of Greenland (836,330). But in the Falkland Islands, near the South Pole, it's an excellent comp. The $ 32,000 per square mile retail price of Pebble would give Greenland a value of about $ 27 billion.

Which brings us back to assessing Trump's chances of success.

In 1995, he acquired a ground lease on 40 Wall Street, a Manhattan office tower across from the New York Stock Exchange. The 72-storey building was the ideal feather for an ambitious real estate developer: a historic monument, with a distinctive green roof, which was built to be the tallest in the world. It is important to note that for Trump, who was still trying to get back from his first bankruptcy in Atlantic City, 40 Wall was also very cheap.

In the grip of a link with the authoritarian dictator of the Philippines, Ferdinand Marcos, the building had been vacant for years. Trump claimed to have paid only $ 1 million for the ground lease, which runs up to 2059. The actual purchase price was probably a bit higher, but that makes little difference . The building generated net income of $ 21 million last year, and Forbes estimates its value at $ 338 million, net of debt.

His short-term ownership of the Plaza Hotel, however, is a very different story. With the hotel a few blocks from his beloved Trump Tower, he could see it from his window and became obsessed with owning it.

In 1988, he agreed to pay $ 407.5 million. The iconic building was well located on Central Park, but required major renovations. Trump did not care, claiming at the time that he was "in love". Seven years later, the Plaza had declared bankruptcy and had been sold for $ 83 million less than what he had paid.

"I think most New Yorkers were horrified at the idea that Donald Trump owns the Plaza, thinking that it would make him flicker in his style and ruin this iconic building," O says. Donnell to CNN. "The more he heard that, the more he wanted it, and eventually because of that, he ended up paying twice the value of the property, and he went bankrupt after buying it."