Undeterred, Mallah got to work cleaning up the area. The management company owners noticed the amount of hard work he put into the property.
Clearly, they had an employee willing to go above and beyond the call of duty. They took advantage of the opportunity by giving Ben Mallah more responsibilities.
Along the way, he learned the ins and outs of running a successful real estate business. He would later use his experience to form a new company with one of his employers, Wark Wilton. They formed MarWil Investments, a company focused on buying distressed properties, refurbishing them, and selling them at a profit.
These experiences laid the groundwork for Ben Mallah’s ongoing success in real estate. Today, he lives in the Tampa area where he works as the CEO of Equity Management Partners Inc, a company he joined in 1990.
Although not officially verified, lore at the company says Mallah made $3 million off his first deal at Equity Management Partners Inc. He would go on to complete even more impressive deals, including Tampa Bay’s Best Western Bay Harbor, which he sold for $34.5 million, generating about $19.25 million in profit.
How Many Hotels Does Ben Mallah Own?
Ben Mallah has bought and sold many hotels during his career. Hotels that have been in his portfolio include:
- Sheraton Suites For Lauderdale
- Ramada Tampa Airport Westshore
- Sheraton Orlando International Drive
At one point, he owned at least seven hotels in Florida. He has sold some of the properties, though. For example, he sold Four Points by Sheraton Orlando International Drive for $31 million. He purchased the property for $23 million in 2016 and devoted about $6 million to renovations.
Unfortunately, lockdowns hurt the area’s travel industry. He didn’t want to sell the property, but he had to admit that the investment had lost its appeal. He made money from the sale, but largely wanted to offload the hotel to focus on more profitable ventures.
It’s important to note that Mallah’s real estate portfolio includes more than hotels. He also owns, or has owned, thousands of rental properties.
At one point he had a property with several thousand short-term rental units located near Disney World. He also owns residential and historic properties. Among those include a Bellair Shore mansion he bought for $19.5 million and a historic home in John’s Pass, for which he paid $17.2 million.
What Company Does Ben Mallah Own?
Ben Mallah works as the CEO of Equity Management Partners Inc. While he has considerable influence over the business’s operations, he does not own the corporation.
Ben Mallah does own a Youtube channel with nearly 750 thousand subscribers. Some of his most popular videos have more than 2 million views. The Youtube channel has a store where fans can purchase merchandise like t-shirts, hoodies, and other apparel.
Where Does Ben Mallah Believe Opportunity To Make Money Is Now?
Ben Mallah’s willingness to sell hotels during the 2020-21 era shows that he doesn’t like holding on to properties that don’t bring in money. While he enjoys buying and rehabbing buildings that he can later rent or sale, he doesn’t want to manage properties without considerable earning potential.
Some might see this as a short-sighted strategy. After all, Florida’s tourism industry has already started to recover. It will likely return to its previous levels of profitability soon.
Despite the strategy’s potential shortcomings, Mallah’s focus on profits makes him an excellent source of information. If you want to know how to make money in real estate now, he’s the right person to talk to.
Recent interviews with Mallah show that he believes:
- High interest rates set by the Federal Reserve make it difficult for everyone, including homebuyers and investors, to purchase property.
- 1031 deals drive the current market by helping investors defer capital gains and losses.
- Investing in office buildings is a nightmare and the idea of converting them into apartments doesn’t work financially.
So, that covers what he doesn’t think investors should do. What opportunities does Mallah think have extraordinary potential?
He calls the sector “necessity retail.” It includes hair salons, nail salons, restaurants, and carryout joints. He mentions Chinese restaurants specifically.
Basically, Mallah thinks people should invest in the types of properties that online companies like Amazon can’t easily disrupt. Amazon can’t deliver a good haircut to your door. You have to go somewhere for that service. Therefore, it makes sense to invest in properties suitable for hair stylists and other professionals providing necessary services.
He emphasizes that some of the best opportunities come from distressed retail locations that have been neglected by current owners. With distressed properties, you get a lower price and invest money in making them more attractive. Then, you court businesses to move into the available storefronts. Once you achieve that, you have a steady flow of revenue that covers operating expenses and future upgrades while generating a profit.
Who Is Ben Mallah’s First Wife?
Ben Mallah married Karla Nila in 2003. As a young girl, Karla came to the United States from Mexico to live with relatives.
Mallah and Nila started dating when she was still a minor, which caused a minor controversy for the larger-than-life real estate mogul. The couple currently has one child.
Mallah also has an ex-wife with whom he shares a child. She prefers to maintain her privacy, so Mallah doesn’t use her name in interviews.
Ben Mallah Net Worth
Ben Mallah has amassed a net worth of about $250 million. Obviously, an investor with so much money in real estate will experience wild swings in his net worth. When the market does well, his portfolio gains value. When the market loses value, so does Mallah’s portfolio.
Still, he has stated that he has a net worth around $250 million. At that amount, how much does a few million really matter? That reality helps explain why Ban Mallah can buy and sell multi-million-dollar properties without agonizing over the experience. As long as he succeeds more than he fails, he will remain one of Florida’s most successful real estate investors.