4 of the Worst Real Estate Developers on the Planet

The concept behind becoming a successful real estate developer seems so simple; purchase land or real estate, build or improve upon it and sell it for a profit. While the concept may seem simple, some real estate developers have struggled to turn a profit over the years and even had to declare bankruptcy. The following four real estate developers are individuals or companies who have earned a spot on the world’s worst real estate developers list.

Donald Trump

Donald Trump

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When people think of disastrous real estate developers, usually Donald Trump comes to mind. Yes, he’s had his fair share of successes, but those successes came with a lot of failures and a few bankruptcies.

It’s all a gamble when it comes to real estate and Donald Trump has had his fair share of good gambles and bad gambles. Some paid off; some may have helped contribute to some of his bankruptcies. Unfortunately, while he nets millions of dollars, his failures in the real estate world tend to come to mind before his successes.

The Ginn Company

The Ginn Company

Image via Britannica.com

The Ginn Company is a relatively high-profile real estate development company that operated in the states of Florida and South Carolina. The Ginn Company is notorious for launching numerous housing developments and hotels/resorts all across the United States and the Bahamas.

Unfortunately, those deals didn’t always turn out as successful as the Ginn Company would like. The Ginn Company filed for bankruptcy in 2008 and left behind numerous empty and half completed housing developments in Florida and South Carolina.

North American Land Corporation

Housing Development

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The North American Land Corporation was a fairly large real estate development company that was operated by John Folds. The company opened numerous housing developments across the country with the hopes of having families and new couples move into the newly built homes. Unfortunately, numerous housing developments never reached the level of success they should have and that left the North American Land Corporation with over ten properties that slowly faded away.

Bugsy Siegel

Bugsy Siegel

Image via ComicVine.com

Bugsy Siegel is known to the world as a notorious gangster and mob member, but he can also be listed as one of the world’s worst real estate developers. Bugsy Siegel borrowed millions from the mob in an effort to develop and create a unique hotel/casino in Las Vegas. The hotel and casino was just too different from the traditional Vegas norm that it ended up operating at a profit for several years after it opened. Unfortunately, Bugsy Sigel died before he could see any of his real estate ventures turn into successes.

When it comes to the real estate world, it takes putting a few failures under your belt before you can call yourself a success. Don’t let the unsuccessful business ventures of these companies and businessmen prevent you from getting into the wonderful world of real estate.

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