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How Scott Wammack Made It Big (Part 1)
 I've known Scott Wammack for about 10 years. He hired my company to do the civil engineering for a 75-lot subdivision in the mid-1990s. At the time I wondered who he worked for. I mean, for Pete's sake, here's this guy, couldn't have been a day over 25, apparently in complete charge of a several-million-dollar housing development. He unflinchingly did the hiring and firing of all consultants, contractors and builders, and was the guy pushing permits. Surely he must be a crackerjack employee of some bigshot developer down Seattle way?
Nope. He was the bigshot, only I couldn't confirm that until last week when he and I got together over lunch. As fate would have it, we're working together again on another development project, though our roles are a little different this time. I should say my role is a little different; I'm managing the project for the seller, not doing the actual engineering. Scott, on the other hand, is still the man in charge on his side, still doing the hiring, firing and permitting. It’s hard to believe Scott Wammack, now a grizzled veteran of the construction industry at the ripe old age of 33, has assets worth more than $60 million. Here is his incredible story.
Tim: I really appreciate your time today, Scott — thanks. So where did it all begin, where and how did you get your start in the building industry?
Scott: It’s funny, I pretty much knew what I wanted to do as an eighth grader — be a builder. But I had no idea I’d wind up where I am today, nor how I’d get here.
Tim: So, did your family give you the jump-start you needed?
Scott: Not hardly. We didn’t have money, so when I turned 11, my dad started making me pay for as much room and board as I could swing. I worked odd jobs, anything that would pay. As I made more money, I paid more of my way. At age 16, I was basically self-sufficient.
My first construction-industry job was as a laborer at age 14. A builder-developer by the name of “Benna Factor” (not his real name) hired me to sweep and pick up trash on his sites. I worked my butt off that summer, wore out three brooms. After three months of grunt labor, Benna allowed me to expand into other areas. So I bought a hammer and tool belt and started learning carpentry.
Times were tough in the '80s. I did construction during the day and odd jobs at night to cover the bills.
Tim: So right off the getgo you’re working 12-hour days routinely?
Scott: Twelves Saturdays and Sundays, 16s during the week. It was a regimen that wouldn’t change for about 15 years. I think it was this work ethic that my employer, Benna, noticed about me. He’s had a big part in my success. More on that later.
Right out of high school I enrolled in college at the University of Washington. It took five-and-a-half years, paying my own way, but I finally graduated with a degree in economics, and minors in marketing and accounting. But I’m getting ahead of myself.
During my freshman year, I got my first chance to make some real money. I found a building lot and with Benna’s help, purchased it.
Tim: How did Benna help?
Scott: He cosigned the loan and put up the downpayment. Basically, it was an investment in me — to see if I would sink or swim given the opportunity.
Tim: Did you know how to buy land?
Scott: Not really. But Benna guided me, in a sort of cryptic way. I’d ask him a question and he’d give me an answer, but not a complete answer. It was up to me to sleuth out the details. It forced me to dig in and make things happen — to learn the ropes. There was no spoon-feeding, though there was a certain amount of oversight and guidance.
Tim: By this time you’d been on construction sites for a few years, but you still had to be green. Did you know how to build a house from start to finish? Did you sub a lot of it out?
Scott: I subbed out foundations, drywall, electrical and plumbing. Did the rest myself. I even paid a roofer $200 to teach me how to roof, then roofed it myself. Did I really know how to build a house from stem to stern? Not yet. I was 20 and winging it. Fortunately, the final product was good enough to sell quickly. Paid for my next year of college.
Tim: How about employees? Surely you had some help?
Scott: I hired a friend as a laborer. He didn’t know much and he didn’t work as many hours as me, so I wound up doing a lot on my own. It’s a bugger, you know, tacking one end of board or sheet of plywood in place, then running around to the other side to level it and then nail it off. But I was determined.
(Determined, I think is an understatement. To be continued…)
Tim Garrison of ConstructionCalc.com, is a professional engineer, author and software producer for the building industry. Send e-mail to buildersengineer@constructioncalc.com. Tim reads every one.
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The views expressed in this article represent the personal views, statements and opinions of the author and do not necessarily represent the views, statements, opinions or policies of the National Association of Home Builders. NAHB does not necessarily endorse any of the views expressed by the author and NAHB is not responsible for any direct or indirect consequences arising out of the views expressed in this article.
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