The real estate entrepreneur David Marom was born in Tel Aviv, Israel and immigrated to New York in his early 20s after serving in the Israeli army. The Horizon Group was founded by David Marom, a real estate development and construction firm that specializes in residential development throughout New York City and Miami.
An avid philanthropist, David Marom concentrates on historically underrepresented groups, such as people with disabilities or terminal illnesses, as well as children from low-income communities. In addition to his wife and two daughters, David Marom has two grandchildren.
How did you get started in this business?
My father-in-law, Julie Miller, introduced me to the construction industry in the 1980s. Julie was a New York based developer who focused on developing apartment buildings in Brooklyn and single-family homes on Long Island.
I spent my early years learning the industry from Julie and his team on their various job sites. Working onsite with the subcontractors and obtaining real hands-on experience was the best way to learn about a new industry. Eventually I took classes at NYU to further my education.
How do you make money?
I have a successful income-producing real estate business.
How long did it take for you to become profitable?
It was a gradual process. I started to make money after completing my first project.
When you were starting out, was there ever a time you doubted it would work? If so, how did you handle that?
No. I was young, ambitious and had big dreams. I loved what I was doing (and still do!) so it was easy for me to stay focused.
How did you get your first project?
I spent several years learning about real estate construction and development by working for my father-in-law. Unfortunately, my father-in-law was diagnosed with cancer in 1989. While it was a very emotionally challenging time for my family, I had to step up and run the business in his absence. I took on a more senior level role and started running our company’s projects.
What is one strategy (other than referrals) that you’re using that works really well to generate new business?
Early on in my career, I had to seek out new work directly. However, at this point, I run a very reputable well-known business so people in the industry call me directly. My phone rings constantly; brokers are always calling to try and sell me land or participate in joint venture opportunities. I always enjoy picking up the phone and hearing what they have to offer.
What is the toughest decision you’ve had to make in the last few months?
When I was presented with the idea of developing in Southern Florida, I had to consider if I wanted to expand into a new real estate market that was already flourishing due to the mass exodus during the pandemic. I recognized it was possible that I had missed the window of opportunity to develop in Miami. I also had to consider the challenges of building in a foreign market as Miami has a very different set of codes, laws and regulations than NYC.
What do you think it is that makes you successful?
My company has grown tremendously over the past several decades but I still like to be involved in every phase of the construction and development process.
What has been your most satisfying moment in business?
I love that different family members have joined the company over the years. I started with my father-in-law and today I am lucky to work with my brother, nephew and daughters. I find it tremendously rewarding.
What does the future hold for your business? What are you most excited about?
I recently broke into the residential development market in Southern Florida. I’m excited for this new challenge and the opportunity to learn from the local community, subcontractors, brokers and buyers.
I’m also excited and proud of my team’s ability to work in two markets at once.
What books have inspired you?
Michael Bloomberg is someone I really look up to and admire. I recommend any and all of his books.
What advice would you give to your younger self?
I am grateful that I had the opportunity to learn about construction and development directly from my father-in-law. In hindsight, it would have been helpful to also pursue a degree in engineering as this allows one to learn the real estate industry from the inside out. I always give this recommendation to people looking to break into the industry.
Are you willing to be a mentor? If so, how should someone contact you?
Yes, I have mentored many people over the past few decades. I love watching them learn, evolve and grow into successful real estate professionals. Please contact our office if you are interested.