Ben Mallah: From Dealing with the Mafia to Real Estate Success

Added: Feb 1, 2024

Growing Up in New York City

Mallah describes his upbringing in New York City as tough, with a lot of crime and violence in the neighborhoods he lived in. He mentions that he gained street smarts and survival skills from his experiences. He also talks about his non-violent nature and how he preferred to use logic and reasoning to handle situations.

Dealing with the Mafia

Mallah shares an anecdote about being sent by a local mobster to collect money from a man who owed a significant amount. He describes the encounter with the debtor, who was a degenerate alcoholic and gambler. Through his resourcefulness, Mallah was able to collect the money by trading a car for the debt owed. He also mentions that the mafia eventually fired him because he didn't fit their violent and criminal mold.

Joining the Army

Mallah discusses how he joined the Army to avoid a potential jail sentence. He talks about the discipline and organization skills he gained from his time in the Army, as well as the exposure to different types of people and situations. He also mentions that the Army saved his life and provided him with valuable skills and experiences.

Entering Real Estate

After leaving the Army, Mallah met a successful real estate investor who inspired him to pursue a career in real estate. He talks about the appeal of real estate as a way to make money and the various opportunities it offers. He emphasizes the importance of finding the right niche within real estate and the potential for passive income through smart investments.

Finding a Mentor

Mallah discusses the role of mentors in his life and how they have influenced his success. He advises that while mentors can be helpful, individuals should also be proactive in seeking out opportunities and taking control of their own lives. He mentions that he was limited by his mentor and only achieved unlimited success after striking out on his own.

Lessons from Real Estate

Mallah shares his insights on real estate, highlighting the different types of properties and the varying levels of responsibility they entail. He talks about the potential for passive income in real estate, particularly through investments in properties like Home Depot, which require minimal involvement. He also emphasizes the importance of making money on the "headaches" in real estate, indicating that the tougher the project, the bigger the potential payoff.

Real Estate Investment Strategies

Mallah discusses his approach to real estate investment, emphasizing the importance of leveraging bank loans to maximize returns. He shares examples of how he has used bank loans to invest in properties and generate significant profits. He also explains the concept of buying properties, adding value to them, and then refinancing to pull out the initial investment, leaving the property to generate cash flow with no money invested.

Wealth Management and Investment Portfolio

Mallah reveals that he has a real estate portfolio worth approximately $500 million, with half of it owed to the bank. He also mentions having cash and other assets. He discusses his investment in hotels, retail centers, and apartment buildings, as well as his approach to managing and optimizing his real estate portfolio. He emphasizes the importance of cash flow and the goal of owning real estate that generates income without personal investment.

Luxury and Lifestyle

Mallah shares his passion for yachts and the sense of freedom and relaxation he experiences when sailing. He also discusses the convenience of private jets for business purposes. He emphasizes the importance of balancing work and leisure, as well as the value of enjoying the fruits of one's labor.

Family and Values

Mallah talks about instilling values in his children, including the importance of education, hard work, and responsible behavior. He emphasizes the need for a good balance between street smarts and formal education. He also discusses the role of his children in the family business and the importance of earning their share of the wealth through their contributions.

Education and Entrepreneurship

Mallah acknowledges the limitations of the school system in teaching practical life skills, such as banking and financial management. He agrees with his son's observation that schools often neglect to teach everyday life skills. However, he also emphasizes the importance of education in developing essential skills such as math, English, and communication.

Legacy and Perspective on Life

When asked about the legacy he wants to leave, Mallah expresses a pragmatic view, stating that once a person is gone, their legacy becomes irrelevant. He emphasizes the transient nature of fame and the importance of providing for his family's future. This reflects his practical and no-nonsense approach to life and business.