Real Estate Mogul Celebrates Book Launch - Black Enterprise
Black Enterprise Magazine January-March 2019 Issue

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Hotel tycoon, R. Donahue Peebles, celebrated the launch of his book, The Peebles Path to Real Estate and Wealth: How to Make Money in Any Market, yesterday at an event in New York hosted by hip-hop icon Russell Simmons and William C. Thompson Jr., New York City comptroller.

“I think what he is doing now and what he has tried to do over a period of time in trying to help people accumulate wealth makes a lot of sense. It’s nice to listen to things in theory, but you want to hear from those who have actually done it and been successful at it,” Thompson says . “He has built a real estate empire and he is one of the best.”

The book details how to increase wealth through real estate, and includes insights based on Peebles’ personal experiences in his climb to success. In the book he uses the analogy of a 12-hour clock to explain how the real estate cycle works. “You want to be a buyer from 5 o’clock to 9 o’clock, and you want to be a seller from 11 o’clock to 12 o’clock,” writes Peebles. “The trick is having the stomach to buy when most people don’t want to buy; that’s when the most money is made.”

Peebles has used this principle in several of his deals which has rewarded him handsomely. A Washington, D.C. native, he is most known for his tenacity in the pursuit of ocean-front property in Miami, where his purchase of the Royal Palm Crowne Plaza Resort made him the first African American owner of a major hotel. He spent $84 million in acquiring the 417-room, oceanfront resort, which opened in 2002 during the recession sparked after Sept. 11, 2001, and then sold the property for $127.5 million in 2004.

“One of the things that is very impressive about Don is that since he was in his twenties he has been an entrepreneur,” says Star Jones, former talk show host and good friend to Peebles. “He realized very early on that having property is a real commodity that can always be traded.”

The book also explains the current housing crisis, fundamental investment tools, and a plan to help readers build assets in a market climate that seems scary and unstable to most. “The reality is that in real estate money is not made when you sell a property, the profit is made when you buy and you realize your profit when you sell,” Peebles says. “Now is a good time for the average person to become homeowners.”

Peebles is president and CEO of the Peebles Corp. (No. 18 on the B.E. Industrial/Service 100 list with $245 million in revenues), the country’s largest African American real estate development company, with a portfolio of luxury hotels, residential and commercial properties, and other developments in major cities such as Washington, D.C., New York, San Francisco, Las Vegas, and Miami. Peebles also has a $2 billion, mixed-use development consisting of

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Marcia Wade Talbert

Marcia is a multimedia content producer focusing on technology at Black Enterprise Magazine. In this capacity she writes and assigns stories to educate readers about social media; digital integration; gadgets, apps, and software for business and professional development; minority tech startups; and careers in STEM (Science, Technology, Engineering, and Mathematics). In 2012, she received two Salute to Excellence Awards from the National Association of Black Journalists and was recognized by Blacks in Technology (BiT) as one of the Top 10 Black achievers in the tech arena for 2011 at SXSW in Austin, Texas. She has spoken about technology on panels for New York Social Media Week, at The 2012 Rainbow/PUSH Wall Street Summit, as well as at Black Enterprise’s Entrepreneurs Conference and Women of Power Summit. In 2011, chose her as one of 28 People of Color Impacting the Social Web, and through crowdsourcing she was listed as one of BlackWeb2.0's/HP's 50 Most Notable African American Tastemakers in Social Media and Technology for 2010. Since taking on the role of Tech editor in September 2010, she has conceived and produced five cover stories on Technology and/or STEM and countless articles, videos, and slideshows online. Before joining as an interactive general assignment reporter in 2008, she freelanced with Black Enterprise beginning in 2003 while working as the technical editor at Prepared Foods magazine. There she further honed her writing skills and became an authority on food ingredients, including ingredients used in food fortification and enrichment. Meanwhile, her freelancing with Black Enterprise and helped her stay current on issues pertaining to the financial and business welfare of African Americans. As a general reporter for Black Enterprise she attended and reported on the Democratic and Republican National Conventions, where she interviewed Valerie Jarrett, senior advisor and assistant to President Barack Obama and U.S. Attorney General Eric Holder. Marcia has a Bachelor of Science degree in Agriculture with an emphasis in food science from the University of Minnesota, and a Master of Science degree in journalism from Roosevelt University in Chicago. En route to her secondary degree, she served as the editor-in-chief of the Roosevelt University Torch, a weekly, student-run newspaper. An avid photographer and videographer, Marcia is one of several employees at BLACK ENTERPRISE who interned for the publishing company as a college student. She lives in New Jersey with her husband, a food scientist; her seventeen-month-old daughter; and “The Cat”, but still considers Chicago home.