Monday, February 23, 2009

Status on Projects

For all those of you out there who care, here is the status of my business projects: RentQuick is starting her 11th year and things are going well. Compared to the last recession, we are holding our own. Much of this has to do with the better inventory (Our new Durabooks are a great hit) and a pretty good reputation among our clients. Ultimately, the best part about this company is that after a number of years in trial and error, I have the best team ever. They do more for the continued success of the business than I do.

Hayes Investments: Right now, Hayes only has one empty office space, which is fantastic. In 2008, Hayes Investments started doing project management consulting. We broke ground last week on a 12,000 sq/ft building for a client. Pretty good looking building too. I expect the project management side to continue to grow. We will see how it goes.

DeWitt Crossing: In 2007, the phone was ringing steadily with interest in the project. Right now, I don't think I have had a real phone call on property sales since December 2007. This is where the economy is really being felt. Commercial property is just not going to move while people are retrenching. The unbelievable interest rates help though.

Black Bear Title and Settlement: In November 2008, I purchased Home Front Title from the previous group of owners. We are just getting things where I want them. The office looks great and I expect the revenues to continue to grow this year. Of course, the refi boom will be a great help.

People ask me what I think of the current economic situation. My answer is simple: serve your clients to the best of your ability, pay attention to expenses, try to keep the revenue in line and everything else will work out.

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