Fred Trump Profile of a serious property developer

Fred Trump Profile of a serious property developer

Who was he?

He was a property developer in New York.

Born

1905

Parents

His father was a trader, restaurant and entrepreneur who emigrated from Germany.

Trumps father passed away when he was twelve years old leaving behind a small property business.

Education

Trump attended Richmond Hill High School in Queens.

He also invested in night classes studying carpentry and reading blueprints as he wanted to be a builder.

To that end, Trump also enrolled in correspondence courses in plumbing, masonry, and electrical wiring.

First job

He worked as a golf caddy, a delivery boy for a butcher,  and a curb whitewasher amongst many other menial jobs.

First job in construction

He graduated in 1923 and started working as a plumber full time.

Trump also moved into learning more carpentry and studied additionally at the Pratt Institute.

E. Trump & Son

His mother went into business with him, loaning him $800 to build his first house which he completed in 1924.

The business was called “E. Trump & Son” and they built twenty houses in Queens, New York in 1926.

He kept building more and more house units and eventually moved into apartments.

First Investments & Growth

He opened up a supermarket called Trump Market, in Woodhaven, Queens. Trump later sold this to a larger supermarket company and concentrated on property.

Trump bought a bankrupt mortgage division of the Brooklyn’s J. Lehrenkrauss Corporation giving him access to low priced land which he was able to flip for profits.

He worked heavily with the Federal Housing Administration (FHA) to build new houses for the Government.

Personal life

He was married with five children including President Donald Trump.

Fred Trump passed away in 1999.