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re: NOLA Contractor, LSU Grad, Arrested in 2 Parishes
Posted on 7/25/14 at 8:17 am to stout
Posted on 7/25/14 at 8:17 am to stout
I still don't see how spreading himself thin is the issue. He still had money coming in from all the people building houses with him. His issue had to be spending, whether it is gambling, drugs, or other toys. Hope they make him sell his new house (should be worth 800-1 million) and pay everyone the money owed.
Posted on 7/25/14 at 8:24 am to saderade
He could have also been using money from current jobs to pay material bills on past jobs and it all caught up to him.
I have seen it happen. Some contractors live on credit using their customers money and it eventually catches up to them. Instead of treating each job as the individual job that they are and not commingling the funds they throw it all together and lose track.
It will get you eventually.
There are also the ones that play big shot too fast. They build a few houses and next thing you know they have a full office with a staff and overhead. They usually don't last long. My office is my truck and has been for years. No need to take on unnecessary expenses that you can't meet when things slow down. Of course I learned this the hard way but I never stole from anyone to learn that lesson either.
I have seen it happen. Some contractors live on credit using their customers money and it eventually catches up to them. Instead of treating each job as the individual job that they are and not commingling the funds they throw it all together and lose track.
It will get you eventually.
There are also the ones that play big shot too fast. They build a few houses and next thing you know they have a full office with a staff and overhead. They usually don't last long. My office is my truck and has been for years. No need to take on unnecessary expenses that you can't meet when things slow down. Of course I learned this the hard way but I never stole from anyone to learn that lesson either.
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