From $700,000 to $130 Million: Playing the Long Game with Scott Lurie of F Street

In this episode of the Major League Real Estate Podcast, hosts Nathan Sosa and Matt Hamilton sit down with Scott Lurie, founder of F Street, to unpack his journey from flipping homes in Milwaukee to managing over $130 million of deployed capital across multifamily, industrial, and private credit investments.

Scott’s story is one of discipline, patience, and people, showing how long-term thinking and investor trust can turn small beginnings into a thriving real estate platform.

From Fix-and-Flips to a Real Estate Platform

Scott started his real estate career back in 2003, focusing on fix-and-flip deals. With limited capital, flipping houses was the fastest way to generate returns and build experience.

Over time, he began holding assets, single-family and duplex rentals, before scaling into multifamily properties.

“We built that portfolio into about 1,500 apartments,” Scott recalls. “Then in 2015, we did a like-kind exchange into industrial assets, and that’s how we got into our second vertical.”

Today, F Street operates across three main segments:

• Multifamily – Acquiring and developing apartment buildings.
• Industrial – Single and multi-tenant properties leased to long-term operators.
• Private Credit / Private Debt – Lending to real estate investors through the Hard Money Co.

Building a $130 Million Private Credit Fund

F Street’s private credit division began in 2009 with just $700,000 in capital. Inspired by the “We Buy Ugly Houses” model, Scott recognized the opportunity in providing short-term, collateralized loans to real estate investors.

“We started that business with $700,000, and today we have over $130 million of deployed capital,” he says.

That private debt fund pays investors a 10% annual return, distributed monthly. Its simplicity, consistency, and transparency have helped F Street attract and retain a loyal investor base, raising $30 million in 2025 alone.

“People like simple and easy,” Scott explains. “When investors see a payment hit their account every month for 36 months, that builds trust, and trust brings referrals.”

Why Simplicity and Trust Win in Raising Capital

While the private debt fund has grown rapidly, Scott notes that real estate syndications require a different kind of investor.

In multifamily or industrial development, investors might not see cash flow for several years, which can be hard to conceptualize.

“Americans and humans are not patient,” Scott says with a laugh. “It’s hard for people to invest money today and wait 36 or 48 months to see returns. But the IRRs can be in the 20s. It’s just a longer cycle.”

The lesson? Simplicity builds trust. When investors understand the product and can feel their money working, they’re more likely to stay involved for the long term.

Managing Investor Relationships at Scale

As F Street grew, so did the need for structure. Scott and his team built an investor relations department dedicated to prompt, thorough communication.

“We talk to investors every day, new and old,” Scott says. “Some have questions, others have redemptions or referrals. Our job is to respond immediately and transparently.”

What started as Scott’s personal network has expanded nationwide through 506(c) general solicitation. Many new investors now discover F Street through Meta, Instagram, Google, and YouTube ads, and some invest significant sums with only digital interaction.

Still, Scott emphasizes personal connection:
“We host events, dinners, and summits so investors can shake our hands and see we’re real. Trust is built in person.”

Leveraging Social Media to Raise Capital

Social media, Scott says, is where today’s investors live.

“Just because someone’s worth $100 million doesn’t mean they’re not on Instagram,” he laughs. “Meta is the number-one driver for us. It’s where people spend their downtime, and that’s where we connect.”

He encourages other syndicators to commit to the process, noting that success doesn’t happen overnight.

“It took me nine months to get our Meta campaign dialed in,” he says. “Most people quit after $10,000 in ad spend because the leads aren’t perfect. But if you stay disciplined, it works.”

Lessons from 20 Years of Playing the Long Game

After two decades in the business, Scott’s biggest takeaway is simple: people invest with people.

“Trust can be built over years and lost in a second,” he says. “You have to communicate, be transparent, and follow through. That’s how you stay in the game.”

For Scott, “playing the long game” means being patient, building strong relationships, and doing what you say you’ll do, even when the market shifts.

“Real estate is the most powerful generator of generational wealth,” he says. “It just takes discipline and time.”

Key Takeaways

• Start small and stay disciplined. Scott began with $700K and grew by recycling capital and reinvesting profits.
• Keep things simple for investors. Clear, predictable returns build confidence.
• Leverage technology, but don’t lose the personal touch. Automation brings reach; relationships build trust.
• Play the long game. Wealth and credibility take time. Consistency wins.

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Disclaimer: This podcast summary was generated from the transcript and may contain some errors or miss key points from the audio recording. Any mention of third-party vendors, products, or services does not constitute an endorsement or recommendation. You should conduct your own due diligence before engaging with any vendor.