Smolinski prefers commercial real estate deals that come with an operating business, like a ski resort or golf course - rather than owning a commercial building and leasing it to tenants - because the returns are three-fold: "You will have a preferred return. Having experimented with a few different types of real-estate investing over the last eight years, he's found that commercial real estate, while expensive to get into, can generate returns that are "insanely, insanely lucrative." He currently has a majority stake in three properties - student housing outside of Arizona, a ski resort outside of Las Vegas, and a pair of golf courses in Arizona - which Insider verified by looking at promissory notes and subscription agreements. He found that, with house flipping, "the margins aren't always super great," so he never tried it himself and stuck to acting as a money lender.Ībout two years ago, Smolinski broke into the commercial real estate investing space. His friend ended up buying him out and turning the rental into a primary residence. His first investment-specific property was a rental in Fort Lauderdale, Florida that he acquired with a friend in 2016, he said. A year later, he sold that home and moved into his current house in Encinitas, California. He bought his first property, a primary residence, in 2015. While the stock market is his bread-and-butter, he's been gradually diversifying his portfolio and adding real estate in the mix. Insider also verified that he had a seven-figure account balance as of September 2023. His strongest year was 2013, when he returned 52%. The S&P 500 index averaged nearly 12% over the same period. Have an account? Log in.īetween 20, Smolinski returned 24.6% on average, which Insider verified by looking at screenshots of his summary statements. This story is available exclusively to Business InsiderĪnd start reading now. Account icon An icon in the shape of a person's head and shoulders.
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