Everything you need to know about Ben Mallah Net Worth
Ben Mallah is a New York businessman with a staggering net worth. He has garnered attention due to his outspoken nature, but how did he come to amass such a huge personal fortune? Ben made money in the real estate industry and has a net worth of $250 million as of 2021. Here are some interesting and unknown facts about the life of Ben Mallah
Early Life and Career
- Ben Mallah was born on October 29th, 1965 in Rockaway, Queens, New York. According to Ben, his childhood was the worst one can imagine. He lived in a bungalow in the worst neighborhood in the slums of New York.
- As a kid, Ben knew that he wanted to make a lot of money when he got older. He would walk by The Plaza in Manhattan and watch all the dignitaries and big shots and say, “You know that one day I'm gonna stay here.” He worked hard tirelessly to get where he is today.
- Ben worked in the army for a few years and after that, he went to work with a guy who was already in real estate. He knew instantly that this was what he wanted to do.
In the early days of his career, he bought small houses that basically nobody wanted, he fixed them up and made little profit off them that he used to buy new properties. Later he went into retail shopping centers and hotels.
Ben Mullers’ Real Estate Business.
- Ben bought a real estate far from his home which was the biggest challenge for him. In an interview with Graham Stephan, he stated that “I like to touch real estate, I like to get my hands dirty. I like to feel real estate. I like to deal with problems easily.”
- Ben learned the hard way not to be so spread out. He had no intention of building an empire, he was happy being in a family business.
- He also warned against biting off more than you can chew. Stick to what you know and don't go over-leveraged. When his real estate bubble popped in ‘08 he was able to sell some of his properties and make profits from them to scoop some bargains made from the crash.
Ben Mallahs’ advice for people interested in real estate
- If you want to follow in his footsteps his advice to you is simple, “You just have to get out there and look for a deal. Find a deal that has some kind of potential, where you can make it better and create value, you can get some sweat equity in it, and typically, there's always gonna be a place like that.”
- He further said that you have to be all in to become successful. He recalls staying up all night and painting the walls himself, also doing minor repairs, preparing the house for inspection the next day because he didn't have enough money to hire anyone.
- “You gotta cross the line,” he says. “You gotta go where nobody wants to go. You gotta work the hours nobody wants to work. If you really want to be wealthy in life you have to go further than the average guy next to you.”
It is an art that Ben has mastered in having done it for more than thirty years under his own company Equity management partners INC. Among his first investments was a house he bought for $9 million and sold for $12 million, earning him a neat profit.
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