P37: 🎊 Group Call XVII 🎊 Real Estate Q's for Real Estate Titan – Doug Smith
Video & Audio of Our Call:
Background:
We know a lot of you guys are into the real estate business, which is why we’re bringing back one of our amazing guests, Doug Smith of Hawthorne Funds. If you missed his episode and you want to hear more interesting stories about Doug, just go to Episode 182. As the Founder and CEO of Hawthorne Capital, Doug has gone on to buy and sell over 100 houses and over 3,000 acres of Texas land. Some of his accomplishments include running an Inc. 5,000 Fastest-Growing Company that's regularly named in HBJ's Best Places to Work. He is also recognized as a Houston Business Journal 40 Under 40.
Hawthorne Capital is a private equity firm that couples Doug’s funds with those of other investors to buy, subdivide and sell thousands of acres of rural Texas land each year. Prior to the creation of Hawthorne, Doug and his team purchased hundreds of properties, including houses and land, from JDS Holdings and other entities.
Time-Stamped Show Notes:
- [2:31] Juan: from Bolivia, wants to know what type of real estate investment is most recommended for foreigners.
- [10:28] Doug: gives his own opinion on how you can make money on rental properties.
- [14:46] Tyler: asks Doug where he sources all his real estate deals.
- [16:50] Doug: recommends a group called Collective Genius, which is composed mostly of successful residential real estate entrepreneurs.
- [17:48] Tyler: curious about why Doug made a critical business transition in the past.
- [17:57] Doug: explains why he transitioned from selling houses to land.
- [22:15] Daniel: interested in getting a duplex or multiplex property and renting it out. He wants to know if this is a good investment right now in the Dallas area.
- [24:37] Austin: gives his own thoughts about rent-to-own properties.
- [28:22] Bruce: interested in how Doug manages his people within the business.
- [33:30] Doug: shares his unique screening process for hiring employees.
- [40:44] Rommel: from the Dominican Republic and runs a similar real estate development business as Doug. He has a question regarding what phase of land development has resulted in more sales.
- [47:12] Doug: shares his own view about realtors.
- [48:47] Rommel: mentions that Austin gave him very useful advice that turned out to be great for his company.
- [52:53] Doug: tackles the issue about tax payments.
- [54:44] Austin: wondering about people doing real estate in Puerto Rico, which has a very low tax rate.
Our Members on Group Call 005:
Key Point from Our Group Call:
- Doug: “Most realtors are no good. They squander the first ten or twenty years of their career, maybe they’re like partying at the bars and stuff and they realize they have a bunch of friends, and then they decided I just can somehow capitalize on all these friends by becoming a realtor. So sure enough one day on their Facebook, you see they announce that they are a realtor.”
Resources Mentioned:
- Email: [email protected]
- LinkedIn: DougSmithHouston
- Twitter: @MyHouseDealscom
- RocketReach: Doug Smith
- HawthorneCapital.com
- MyHouseDeals.com
- JDS.Holdings
- Author/Contributor to PrivateMoneyGoldMine.com
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