ilmscore | From Broke To $500,000,000 (The Empire of Ben Mallah)

From Broke To $500,000,000 (The Empire of Ben Mallah)

Predictions from this Video

Total: 10
Correct: 0
Incorrect: 0
Pending: 10
Unrated: 0
Prediction
Topic
Status
Plans to develop a dirt lot into a building with more hotel rooms and retail space, contingent on zoning changes.
"Once zoning gets changed is I'm going to take this shell dirt lot which this property owns and then I'm going to add on to that building and build as many more hotel rooms there retail on the bottom that the city will permit me to do."
Real Estate Development
Pending
Investment of at least $300,000 is planned to add 10 hotel rooms, with an estimated value of $2-2.5 million upon completion.
"We're going to invest at least 300 Grand minimum and then we'll have 10 more rooms but in this area with these things up and running you know they probably worked two to two and a half million dollars when it's done"
Real Estate Development
Pending
Believes converting retail spaces to residential is a current market need and can be profitable.
"I think converting retail into residential is what's needed right now not enough housing and if you're able to take something like this that wouldn't already be rented I'm gonna make sense for everybody involved"
Real Estate Strategy
Pending
Acquired hotels for $18-20 million but secured loans for $25-30 million, indicating a strategy of leveraging significantly.
"I bought hotels you know for 18 20 million bucks but I got loans on them for 25 to 30."
Real Estate Investment
Pending
Anticipates a stabilized hotel to generate a couple of million dollars annually.
"I expect the hotel to probably wants to stabilize I would think it's gonna be a couple of million a year"
Hotel Operations
Pending
Considering selling assets that are no longer profitable due to current interest rates.
"I'm going to start looking seriously at a lot of assets that don't make a lot of sense in today's interest rate and think about selling them"
Real Estate Investment Strategy
Pending
Sellers need to adjust expectations as current market numbers are not aligning with previous valuations.
"the sellers got to realize that me as a seller I have to realize it you know it's a hard thing to swallow but you know right now we're in this weird zone right now you know where the numbers don't work the numbers don't make sense"
Real Estate Market
Pending
Sellers are still overvaluing their properties compared to current market conditions.
"people haven't swallowed the fact that their property is not worth what it was a year ago"
Real Estate Market
Pending
For the first time, considering paying down debt due to higher interest rates, a departure from previous strategy of leveraging low-rate debt.
"I'm actually thinking about buying down debt which I've never done in my life I've always been a big advocate for taking on debt because the rate was low"
Real Estate Investment Strategy
Pending
Significant recent renovations and additions including new tennis courts, pool, decks, fountain, and a private marina with boat slips and a dock.
"you know this is the truestation ah the tennis Court's brand new the pool's brand new to Dex brand new we even put a new fountain in button green over there we'll walk around I'll show you yeah you can take you could drive a golf cart all the way down to the Waterfront and next door we all these houses here share a private Marina we have two boat slips and a brand new dock"
Real Estate Development
Pending