Doug Ebenstein, Age 68, Boca Raton is a former real estate business leader, known for his leadership roles in acquisitions and joint ventures. Known as “The Shark”, he was relentless in seeking the best deal for his clients. His many achievements and campaigns are detailed in his book titled “You won’t Succeed with These Companies”. Prior to purchasing this book, I had never heard of Doug Ebenstein. In this article, I will review the various aspects of his Real Estate investing career and see how his legacy can benefit current and future real estate investors.
As a young man, Doug started his real estate investing career at the age of 22 in New York City. After completing college, he went on to serve as an assistant to legendary attorney, Robert Mondavi, in a law firm. After several years in the business, he decided to launch his own firm in Boca Raton, Florida. He has managed to establish and build multiple partnerships that have provided him with a steady income since then.
In a book by Robert Kiyosaki, “Rich Dad Poor Dad”, Doug Ebenstein shares his experiences in building two successful real estate firms. Although some criticisms were raised about the business model, Kiyosaki and other leaders believe that it is still applicable today. According to Kiyosaki, “If you’re not willing to make an honest effort to build a company that provides a service people need, you’ll end up being just another businessman who sells a product no one wants and can’t deliver.” Many business leaders fail to realize that they need to build a larger company in order to stand apart from the competition.
According to Kiyosaki, “Doug Ebenstein has the ability to think bigger than himself,” which is a trait often found among the great leaders. “He wants to challenge assumptions and continue to move his company forward. When it comes to real estate, this means continuing to rent out properties rather than try to sell them for a higher profit. Real estate is a business that can take a lot of time and money to develop. It also means having to constantly expand the customer base.”
Some may question the idea that it takes time to build a successful business. However, Kiyosaki points out that only the best and most visionary leaders are able to see the opportunities right in front of them and act quickly to seize them. “That’s why the rest of us are stuck waiting for them,” he said. According to Kiyosaki, if these same leaders were applying the principles they learned from their mentors, rather than trying to figure things out on their own, they would be miles ahead of everyone else.
Kiyosaki continues, “The key to being a leader is to always have your eye on the prize. Even if you are not winning the race to the top, you should still be running to get there. You must never allow setbacks or concerns to keep you from your true goals.”
One of the topics that Doug Ebenstein covers in his excellent book, The Real Estate Underground, is leveraging the assets of others in order to obtain higher profits. In this respect, Ebenstein not only discusses practical matters pertaining to building, managing, and closing down a real estate business, but also teaches readers how to become successful when entering the business of real estate. “People often think they know what they want to do in real estate,” Ebenstein notes, “but they haven’t really figured out how to get there yet.” He provides practical tips for acquiring capital, negotiating with banks, locating investors, handling negotiations with tenants, managing disputes, marketing to the marketplace, and a variety of other business operations.
While it is important to note that much of what Ebenstein writes about is practical, it would be an oversimplification to say that this book is solely geared towards those planning to enter the business. It is, after all, a book of practical tips and guidelines to make one’s business a success. But if one is planning to be involved in the business, this is a valuable read. For those already involved in the business, it is recommended to read with a publisher’s guide.