Billionaire investor Sam Zell said President Trump has an "extraordinary opportunity."

"I think we've had 8 years of kind of an anti-business administration with very little representation from the business community," Zell said in an interview with TheStreet on Tuesday. 

Zell is author of the new bookAm I Being Too Subtle?

Zell wasn't fond of President Obama's nearly $1 trillion stimulus plan back in 2009. "I think President Trump has a similar stimulus opportunity but without the debt because he can achieve that goal by deregulation," he added.

As for tax reform, another policy goal of President Trump's, Zell said it makes no sense for a company like Apple (AAPL) - Get Report, with some $250 billion in cash, to repatriate some of its overseas cash back to the U.S. under the current tax structure. 

The Trump administration is hoping tax cuts pay for themselves by increased economic growth over time.

Zell said dynamic scoring, a policy that considers the economic impact of tax cuts, is logical, but forecasters should "be careful."

"Every time we've cut capital gains tax, revenue has increased," he said. 

Meanwhile, in terms of commercial real estate amid the recent store closures at Sears Holdings (SHLD) ,Macy's (M) - Get Report and J.C. Penney (JCP) - Get Report,  Zell doesn't think landlords will be able to find new tenants that can attract the same amount of traffic as the big-box stores.

"There's a reason why [those stores] paid almost no rent - their goal was to generate traffic," he said. 

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