Real Estate Blog

Investor Interview with Scott Smith


Friday, November 15, 2019

Investing is for all types of people, from many backgrounds and schools of thought. You may find similarities among other investors, or learn something new!

Herewith tips and insight, is Scott SmithInvestor & Attorney

Q: Who was your first business mentor?  

A: My Dad, Dr. Edward H. Smith.  Best work ethic I’ve seen.


Q: Who was your first mentor in real estate?  

A: Jim Hull and Barry Storey formerly Hull/Storey Development, LLC

 

Q: What is your favorite book? 

A:  "Where is Joe Merchant?" by Jimmy Buffett


Q: What is the best lesson you have learned in real estate? 

A: When interviewing a prospective residential tenant, look at their car both inside and out, because that is how they are going to treat your property.  

  

Q: How many properties do you own? 

A: Three with one pending.

 

Q: When did you start investing? 

A: 2002

 

Q: Why do you Invest?

A: I invest in property because I don’t like seeing my money sit in a savings account or money market account. I don’t know the stock market. I do know real estate.  That being said I do let my stockbroker buddy handle my wife’s and mine retirement planning.


Q: What is the best advice you have received?  

A:  Never “ASSUME,” because it make an ASS out of U and ME.  Richard Dunstan, Esq.  circa 1999.

 

Q: Do you have a favorite podcast?  

A:  When I can flip cast my lure underneath a dock.


Q: Any hobbies? 

A: Driving my kids around to their various sports and activities and spending money on same.  When not doing that it's golf, tennis, hunting and fishing.


Q: What is the best advice you could give someone else? 

A:  Wash your face before your ass.


Q: Is there a place for you where time slows down?  

A:  Hunting club by far.  Golf course second.


Q: If you were a member of a music group, it would be _________?

A:  The Cult 


Q: I was introduced to Auben ______.

A:  Through Tyson back in 2009 when he was buying HUD homes and we had to deal with the O’Brien law firm out of Ohio.


Q: If you weren't investing in real estate you would be_______.

A:  freezing warts (see below).  I guess playing the stock market not knowing what I’m doing and losing money.


Q: If you were to start over_______.

A: I’d have gone to medical school and taken over my dad’s Dermatology practice.  Economy goes bad?  Doesn’t matter.  People still get sick.


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