Donald Trump Buying Ed McMahon’s Mansion - McMahon Can Still Live In His Home
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Donald Trump is a publicity whore, no doubt about it. But tonight he has done something remarkable no matter his rationale.
Reports are coming from Ann Brenoff at the LA Times that Donald Trump is buying the McMahon home for an undisclosed sum.
And the really cool part is that McMahon will be allowed to live there after the sale is complete. The iconic sidekick, McMahon was facing foreclosure and eviction in the next couple of weeks if he could not find a buyer of the 4.8 million dollar (listing price) home in Beverly Hills.
So tonight I salute you Donald, you have done a great thing.
Trump said he stepped in because helping McMahon “would be an honor.” His plan is to buy the home from the lender and lease it back to McMahon.
“When I was at the Wharton School of Business,” Trump said, “I’d watch him every night. How could this happen?”
The deal with Trump was cemented this past weekend when McMahon’s listing agent, Alex Davis of Hilton & Hyland in Beverly Hills, flew to New York to make a personal appeal to Trump. Davis declined comment.
The six-bedroom, five-bathroom house had been on the market for about two years. At one point, it was listed at more than $7 million but dropped in increments, winding up this weekend at $4.6 million. McMahon purchased the house in 1990 for $2.6 million, according to public records. via Los Angeles Times
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
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By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
BY USING FIRST CLAIM INSURANCE ADJUSTERS YOU WILL HAVE THE ABILITY TO LOOK AT YOUR INSURANCE SETTLEMENT AND REALIZE FIRST ...
Comment by Phyllis Harb on 14 August 2008:
Did he do such a good thing? or is he smart enough to know a good deal?
Comment by Tom Royce on 14 August 2008:
Odds are the combination of the publicity, the good deed, and the deal made it a triple win for the Donald.