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George C. Ross Addresses Sy Syms School of Business Students

Nov 22, 2005 -- In the episode of “The Apprentice” where Donald Trump’s right-hand man George Ross was away “on a business trip”—unusual because during the nine weeks it takes to tape a season, all participants must be available seven days a week—the TV costar was actually home, observing Yom Kippur.

Mr. Ross, executive vice president and senior counsel for the Trump Organization and business and legal adviser to Mr. Trump, related the anecdote as part of his talk at the Wilf Campus Monday night on strategies his boss employs for buying real estate. The lecture, based on his new book, Trump Strategies for Real Estate: Billionaire Lessons for the Small Investor (John Wiley and Sons, Inc.), was sponsored by Sy Syms School of Business and attended by nearly 200 students from the Wilf and Beren campuses.

Mr. Ross, a real estate attorney for more than 50 years, is featured each week on “The Apprentice” as a boardroom judge, and his observations play a vital role in influencing Mr. Trump’s decisions. His book describes how Mr. Trump identifies potential properties and how he finances, negotiates, and markets his big deals. It is aimed at the novice and professional investor, alike.

In his talk at YU, he told students that “real estate is a good investment over the long term, as long as you have enough money to weather the storm.” He then described how Mr. Trump put together his first big deal, at the age of 27—purchasing and renovating the Commodore Hotel in Manhattan. That undertaking, Mr. Ross said, demonstrates what became his boss’ forte: tackling the big projects that no one else wants to touch.

He advised his audience, however, that unlike Mr. Trump, they should start small, build slowly, and finance projects with other people’s money. “Based on my experience, more fortunes are lost than made [in real estate]. You can and will lose if you don’t know what you are doing.”

Mr. Ross’ presence at YU was in conjunction with the Principles of Real Estate course taught at Sy Syms by Stuart Verstandig, an adjunct assistant professor. Mr. Verstandig, a former student in a real estate course taught by Mr. Ross at NYU, made the new book a reading requirement of his course. After the lecture, Mr. Ross spent almost an hour answering students’ questions and signing copies of his book.

“It says a lot [about Sy Syms School] that a man of Mr. Ross’ caliber found time to talk with our students, answer their serious questions, and offer them practical advice. I am grateful to all those who worked so hard to make this event happen,” said Mr. Verstandig. He presented Mr. Ross with a certificate of appreciation.