Donald Trump: Be bold and buy real estate now

Donald Trump visited "Larry King Live" on Wednesday night to tout his new book, "Think Like a Champion." In a wide-ranging interview, Trump shared his thoughts on how to prosper in this economy and other topics as well. Find here what they talked about real estate and economy .

King: With troubled times like this for the average guy, is this the time to think like a champion?

Trump: This is the best time to think like a champion. As an example, the house is being foreclosed. You go see your bank -- maybe you can make a deal, maybe you can't. But you can make a deal with a bank on another house, and much better than the one you're living in. ... They'll do any deal to get rid of their product.

They have houses by the thousands. And you go see that bank and you make a deal.

King: Is fear harmful in this [economic] situation, Donald, or is it realistic?

Trump: Well, I think it's realistic. People are afraid. They're scared. They're losing their jobs. They're losing their homes. And certainly there is a word known as fear, and there's nothing wrong with being fearful.

But you have to do something about it. And that's what I write about in the book. You go out. You go to the right place, where there's better employment. You get a trade where they really need people.

King: Have you had to lay off people? Because it seems everyone has had to do that.

Trump: It's a sad thing, but whether it's "The Apprentice" or not, the fact is you have to say to some people: "You're fired." The world is different.

King: You said that this is a good time to buy real estate. What about financing? What if you want to buy and you can't get the mortgage?

Trump: Larry, this is a great time to buy real estate.

And as far as financing is concerned, the only financing you should be thinking about is seller financing. If the seller won't give you financing, don't do it, because the banks are not doing their job. They're not providing financing for deals.