Mr. Rustic: Don't Overcomplicate Things with Gwyeth Smith

Aug 24, 2020

Today's guest is Gwyeth Smith. Gwyeth is a Principal at Rustic Capital and has a BS in Economics from James Madison University. After graduation Gwyeth worked at an old Rockefeller Company performing domestic and international cost of living analysis. He then transitioned to investing and worked as a proprietary equity trader for multiple New York based companies. At this time, Gwyeth began to explore alternative investments to Wall Street. He turned his NYC apartment into an asset by renting it and moving to AZ to be with his future wife. There he found another passion; helping people with limb loss. He followed a path where he became a certified prosthetist and, in 10 years, has helped countless amputees achieve feats that few "able-bodied" people could even imagine. Gwyeth's career in prosthetics didn't stop his passion for investing, and today his multifamily portfolio includes over 750 units.

[00:01 – 04:52] Opening Segment

• I introduce guest, Gwyeth Smith

• • Studied economics at James Madison University
  • Turned his New York City apartment to a rental and moved to Arizona
  • Certified Prosthetist
  • Over 750 multifamily units
• Gwyeth talks about his prosthetist career
• • Why he got into prosthetics

[04:53 – 12:17] Diving into Real Estate

• Gwyeth shares his journey to multifamily real estate

• • Why he started buying real estate
  • What it looked like buying his first real estate deal
• Gwyeth talks about his partnerships
• • Moving from a residential broker to a commercial broker
  • Partnerships that didn't work out

[12:18 – 26:28] Building Partnerships

• Gwyeth talks about a recent deal he worked on

• • A 13-unit property
• Gwyeth talks about the biggest deal he had since joining the Jake & Gino
• • A 42-unit in Jeffersonville, Indiana
  • The roles in their partnership
  • Their goals for the property
  • Weekly calls

[26:29 – 30:05] Jake & Gino Community

• Gwyeth talks about the impact of joining the Jake & Gino community on his career

• "It's 100% The people in the community, and all the education and all the other stuff are just an added bonus."
• Expanded his network
• Pushed his career to greater heights

 

[30:06 – 37:15] Closing Segment

• What's the future for you? What's the goal? What's the next step?

• • We don't know what the future holds, but the more you just sit on the sidelines, the harder it's going to be when the opportunities come.
• Imagine it's a hundred years from now, you have grandkids, and one of them decides to write a book about Gwyeth Smith. What would you like the title to be? Or what characteristics would you like highlighted?
• • "Don't Make It Harder Than It Is. Hopefully, if they write about me, they would just think that I'm an overall good person. Never screwed anybody out of anything. Happy, you know, proud that I was there as a family member."
• Get in touch with Gwyeth online. See below for social links.
• Final words from Joshua and me

 

Tweetable Quotes:

"We know where we wanna be; we just haven't written it down." – Gwyeth Smith

"There's no way, absolutely no way, I would be to where I am now and where I am going. There are exciting things on the horizon here, and it just absolutely wouldn't happen without just the community members." – Gwyeth Smith

"It's a tough time to be on the sidelines because the more you just sit on the sidelines, the more you're not out there in front of people, the harder it's gonna be when opportunities do arise." – Gwyeth Smith

 

Resources Mentioned:

• Jake & Gino wheelbarrow profits academy
• Jake & Gino Community

 

You can connect with Gwyeth on LinkedIn and Facebook. Send him an email at [e-mail]. Give him a call, 516-238-4150. Visit their website https://rustic-capital.com/ to know more about multifamily investment opportunities.

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