DeLorean and Donald Trump Connection

[David T]

JZD's plan was to convert a portion of the property to a golf course and equestrian training center as pat of the bankruptcy plan. Then the golf resort tried and went broke. Trump was able to do it all just as a golf course. Actually being a golf course and rehabbing the house into a clubhouse kept the property intact. Other possible uses included breaking the property up into developments, hotels, shopping centers, etc. A golf course is not the worst thing that could have happened. And he did it first class sparing no expense to make it VERY nice. When JZD had the property it was in very neglected condition. Even with a cell tower paying rent the taxes on the property have to be enormous. Then ther is the staff, the upkeep, etc. No small investment. There are also environmental problems that had to be dealt with. We all know the condition of the main road was terrible and all by itself would cost a small fortune to fix. Well, it's all fixed now!

[Tamir A.]

hahaha. Yeah, can't believe the baggy clothes I used to wear. I was lucky enough to visit John there while he lived there. I also had the opportunity to tour the property shortly after Trump took it over and I filmed the entire tour by the original groundskeeper whom had been taking care of the place while JZD was living there. So he gave a detailed layout and description of what each building was used for, etc.

T.

I didnt know that Tamir and JZD starred in a miami vice reboot.

[louielouie2000]

Looks to only be a local interest story so far:

http://www.nj.com/politics/index.ssf...inster_go.html

http://www.nj.com/politics/index.ssf...to_join_h.html

[David T]

hahaha. Yeah, can't believe the baggy clothes I used to wear. I was lucky enough to visit John there while he lived there. I also had the opportunity to tour the property shortly after Trump took it over and I filmed the entire tour by the original groundskeeper whom had been taking care of the place while JZD was living there. So he gave a detailed layout and description of what each building was used for, etc.

T.

The caretaker was Ed Russo, a really nice guy. He took us (the DMA) around too on an abbreviated tour. Pointed out the pond where one of JZD's dogs fell in and other things. Had a lot of history to tell, he was there for a long time. Said he was moving to Florida. When I was there for the car show few knew the connection to the Delorean and JZD.

[DMCVegas]

So on a related note, what is the history of the property before JZD purchased it?

[opethmike]

No politics.jpg

[Mario]

No politics.jpg

Just because conversation includes a political figure does not make it "politics"... I only saw one post that was even kind of political.

[DMCVegas]

JZD's plan was to convert a portion of the property to a golf course and equestrian training center as pat of the bankruptcy plan. Then the golf resort tried and went broke. Trump was able to do it all just as a golf course. Actually being a golf course and rehabbing the house into a clubhouse kept the property intact. Other possible uses included breaking the property up into developments, hotels, shopping centers, etc. A golf course is not the worst thing that could have happened. And he did it first class sparing no expense to make it VERY nice. When JZD had the property it was in very neglected condition. Even with a cell tower paying rent the taxes on the property have to be enormous. Then ther is the staff, the upkeep, etc. No small investment. There are also environmental problems that had to be dealt with. We all know the condition of the main road was terrible and all by itself would cost a small fortune to fix. Well, it's all fixed now!

It is hard to say what exactly the reasoning was by the judge to reject any plans that JZD had. But if I were to be brutally honest, the resulting fiasco with the sale of Logan Manufacturing may very well have influenced the decision to force bankruptcy. Litigation from the LMC sale had continued for years up until De Lorean's death. So it may have been possible that the judge was trying to avert another complicated mess of shell corporations and their convoluted hierarchy by just enacting the proverbial "nuclear option" of mandated bankruptcy to immediately secure cash for the creditors.

The cell tower wasn't the only source of income. LMC was for many, many years, as was the massive income from its eventual sale. The funny thing about property taxes though is that they're based upon the value of the land. So JZD keeping his property undeveloped was probably one of the big reasons I have heard that his neighbors loved him. All of those property improvements come with a severe cost to the rest of the surrounding lands, and have most definitely shot property taxes up for everyone else.

Admittedly, yes, I am a bit biased against golf. It's a fun enough game to play, boring as all hell to watch, but the culture of many, not all but most people I have encountered, has been rather off-putting and not a fun one to be apart of. An equestrian center would have been a far better idea, sub-dividing the land for other mansions, or even just donating the property to a conservancy to create a wildlife habitat would have been better than just making yet another golf course. But that's a personal opinion there.

[David T]

Most towns like golf courses. It keeps large areas from getting developed and swamping the school system with kids. Although it does not generate a lot of tax revenue, the business does generate some and so do all of the people that come and go. In a nearby town to me there was a plan submitted to turn a golf course into a golf resort for Japanese businessmen. It is so expensive to play golf in Japan that it is cheaper for them to come here on a vacation and play! Never got anywhere but that is the economics of it. I can't speak as to why the judge would not accept JZD's plan but it would have saved his house and paid off the creditors. In the end everyone got screwed when the golf resort's deal went bad. Cell towers do not generate all that much income. Depends on the # of carriers and how much they have to invest to get it built and all of the permits and such. A typical tower has about a 1/2 dozen or so carriers so you might see $10,000 a month. That might sound like a lot but put that # next to the tax bill for the place and it will look small by comparison. What can make a LOT of money is one of those new electronic billboard signs. With all that frontage on Rt 78 that is what I would do! Right now all you can see is a big flagpole and a big American flag. An equestrian center makes sense too, that area of NJ has a lot of horse farms. With all of that acreage you could have a big riding academy. I guess Trump isn't into horses, only golf.

[Henrik]

So... the very house in Bedminster, NJ where we see pictures in the news of our President Elect shaking hands with people that are vying for a cabinet position - is the former home of JZD. Interesting.

http://www.trumpnationalbedminster.com/