S.E.C. Real Estate Observer

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Mr. Steven Bushey was born February 26, 1948 in St. Johnsbury, Vermont (known as the Northeast Kingdom). He subsequently lived in Rutland, Vermont and then in the second grade moved to Essex Junction in the Burlington, Vermont area. He attended Essex Junction High School and received a degree in History from Johnson State College in Vermont. He graduated in 1971, three credits short of a double major in English. While in college he met his future wife Mary during his sophomore year. They dated for the next three years in college and then off and on for the next four and were married in October 1974.

Mary is a vegetarian (who is trying to convert Steve) and enjoys horseback riding, reading, and her time in the gym. Mary was a Biology major in college and works for IBM in chip design.

Steve and Mary have three children: Jacob was born in June 1976 and is currently a Stone Mason in Colorado; Rebekah was born in October 1977 and is a graduate student at Yale; and Martin was born May 16, 1980 (the same day as Mt. St Helen’s erupted) and is an Iron Worker in Vermont.

Both of Steve’s parents are of Scottish decent. His dad worked for Vermont Trucking and GE. He died at the age of 51. His mom ran her hair dressing business out of the house when Steve was a kid and the smell of perm solution takes him back to his childhood. Steve has a sister who lives in Burlington, Vermont and manages 1,300 condos and 150,000 square feet of retail space.

Steve grew up as an athletic child and played both baseball and soccer all the way through college. He loved to ski and hunt. A knee injury keeps him off the slopes today. Steve is an avid fly fisherman and tries to spend his summers fishing and his winters tying flies. Steve enjoys hunting, cooking and tinkering with engines.

Steve’s civic interests include being a fundraiser for his alma mater and he was previously very active in the local Chamber of Commerce. Steve ran the government affairs committee and was on the board of directors.

Life Goals and Prospectives

Steve’s personal life goal is to have time to travel and fish, stay healthy, and have close friends. His father died when he was in his 20s and Steve very much wants to live long enough to help guide his children into their 30s and 40s.

Steve wants to develop small properties that cash flow and allow him to achieve his other goals.

Philosophy on Real Estate

Steve primarily enjoys leasing and especially enjoys the lease agreement. Steve believes that a lease should be clear and concise and he looks upon a lease as “a piece of literature.” Indeed, many leases have a long-term influence on people’s lives and business.

Steve has been involved in many creative and long-term leases including ground leases that allowed control of land and a way around an onerous capital gains tax.

Steve is a very good negotiator and “knows” both parties can and should win in a negotiation. He is also very good with numbers.

If Steve has a weakness he believes it is in not knowing when to let go.

Best Moment in Real Estate

His best moment is yet to come!

Most Significant Event

Meeting his wife! He had met her in a previous life and at first was not sure whether meeting her again was a positive or negative event; however, he is now sure it was positive.

Most Significant Event in S.E.C.

First meeting he ever went to and the experience of all that is S.E.C. Steve attended his first meeting almost by accident. He thought he was going on a ski trip with Bob Zink. The short real estate meeting turned into a significant event in Steve’s life and he has been involved with S.E.C. ever since!