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from the NW Fl Daily News:

We thought the (baby) boomers were going to pour into the area and buy up condos or whatever else got built, and that turned out not to be true," Harper said.

Reversal of fortune | bank, banks, loans - News - Northwest Florida Daily News

Thanks for the post.

The whole time I was reading the article I was being distracted by memories of the various builders and real estate investors that we sub-contracted under in '04 and '05. There were so many who were drive by builders who looked like they had the world by the tail. I was working like a dog and saving and reinvesting while many others were making money hand over fist without digging so much as a hole. Contractors would call me and say, "Hey JT, we're expecting bad weather. Would you go down and safe off my windows and doors, tie down the port-a-let and cover my dumpsters?" I had other contractors holler at me, "Hey Johnny Boy, my plumber's coming by the job today, would you walk him through and mark it out with him?" or "Hey JT, I have a framing final today. Would you and your guys run through and punch the job out before the inspector gets there?"

Ask anybody who knows me and they'll tell you that in '04, '05 and '06 I carried a backpack with rye bread, water and tomatoes every single day. They'd say, " Still on bread and water huh? Come to lunch with us. " I told them over and over that it was not a diet of the body. It was a diet to harden the mind and character. They'd look at me like a sucker when I told them we were all getting soft.

Meanwhile, we were performing on our credit lines flawlessly and putting down payments of 40% to 100% when we would start our own projects. The whole attitude of people throwing huge fat at their budgets without a care made me sick to my stomach at the time. Now that my lender's are making the bad bank lists because these know-it-all's defaulted on leveraged real estate loans I want to put those no work, new truck, smiler's in a deep hole. I'll dig the hole myself with my calloused hands.
 

jerome

Beach Comber
Feb 5, 2009
36
0
hardcore

Thanks for the post.

The whole time I was reading the article I was being distracted by memories of the various builders and real estate investors that we sub-contracted under in '04 and '05. There were so many who were drive by builders who looked like they had the world by the tail. I was working like a dog and saving and reinvesting while many others were making money hand over fist without digging so much as a hole. Contractors would call me and say, "Hey JT, we're expecting bad weather. Would you go down and safe off my windows and doors, tie down the port-a-let and cover my dumpsters?" I had other contractors holler at me, "Hey Johnny Boy, my plumber's coming by the job today, would you walk him through and mark it out with him?" or "Hey JT, I have a framing final today. Would you and your guys run through and punch the job out before the inspector gets there?"

Ask anybody who knows me and they'll tell you that in '04, '05 and '06 I carried a backpack with rye bread, water and tomatoes every single day. They'd say, " Still on bread and water huh? Come to lunch with us. " I told them over and over that it was not a diet of the body. It was a diet to harden the mind and character. They'd look at me like a sucker when I told them we were all getting soft.

Meanwhile, we were performing on our credit lines flawlessly and putting down payments of 40% to 100% when we would start our own projects. The whole attitude of people throwing huge fat at their budgets without a care made me sick to my stomach at the time. Now that my lender's are making the bad bank lists because these know-it-all's defaulted on leveraged real estate loans I want to put those no work, new truck, smiler's in a deep hole. I'll dig the hole myself with my calloused hands.


That's what that is. You weren't drawn to the flock. By the way, your specs look nice and are reasonably priced. I noticed a significant amount of metal framework in your foundations. What would call that kind of slab? I wonder if that is common, especially in the neighborhoods you have built in or did you "overbuild" according to builders around you in each respective neighborhood or development you have worked in, just to reinforce the slab. I never noticed that much metal in slabs.

One of your specs is in rosemary or rosemarish looking, and according to your website, I believed your "principle" had built it. I am a little ignorant here, but did you and your company actually build that same spec in rosemary beach?
 
That's what that is. You weren't drawn to the flock. By the way, your specs look nice and are reasonably priced. I noticed a significant amount of metal framework in your foundations. What would call that kind of slab? I wonder if that is common, especially in the neighborhoods you have built in or did you "overbuild" according to builders around you in each respective neighborhood or development you have worked in, just to reinforce the slab. I never noticed that much metal in slabs.

One of your specs is in rosemary or rosemarish looking, and according to your website, I believed your "principle" had built it. I am a little ignorant here, but did you and your company actually build that same spec in rosemary beach?

Those slabs that are loaded up with #5 are probably the elevated 2 way slabs.

I built more than 20 homes in Rosemary as a builder and another 40 to 50 as a shell contractor. Chambers Street Builders, Inc. obtained it's Qualified Business Florida Building Contractor's license after that.

How long have you been watching SoWal real estate? Did you stir up the real estate deal you were looking for?
 
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