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Message
re: NOLA Contractor, LSU Grad, Arrested in 2 Parishes
Posted on 7/25/14 at 8:34 am to notiger1997
Posted on 7/25/14 at 8:34 am to notiger1997
I don't think claiming that he's never stolen from his customers or subs is patting himself on the back.
0
Posted on 7/25/14 at 8:35 am to stout
quote:
They can file a lien on your house and pursue you and the contractor but I don't think any judge would hold the homeowner responsible in this case.
I agree, but the homeowner is still going to have to hire an atty. and defend the lien. Liens will cloud up a title and make lenders nervous. Liens are way too easy to file, IMO. A lot of people suck at paying for stuff so I guess that's why, though.
Posted on 7/25/14 at 8:35 am to stout
quote:
They build a few houses and next thing you know they have a full office with a staff and overhead.
i think this is the curse of small businesses everywhere. it's mind-numbing in the legal profession
Posted on 7/25/14 at 8:36 am to stout
yeah overhead will kill a small business
I interviewed with a successful new service company last year that will do about 50 million in revenue in 2014. "Corporate" was 3 ModSpace buildings connected by a porch with a metal shop and gravel yard next door.
I interviewed with a successful new service company last year that will do about 50 million in revenue in 2014. "Corporate" was 3 ModSpace buildings connected by a porch with a metal shop and gravel yard next door.
Posted on 7/25/14 at 8:37 am to SG_Geaux
quote:just from reading the story thats how i feel. How do you just NOT finish homes when you have been paid..
frick that guy. He knew damn well he was ripoing people off.
Posted on 7/25/14 at 8:38 am to SlowFlowPro
I saw this a lot after Katrina. We were asked to counsel some small businesses on their finances, etc. and I couldn't believe how many lived hand-to-mouth.
Posted on 7/25/14 at 8:51 am to yellowfin
quote:
I interviewed with a successful new service company last year that will do about 50 million in revenue in 2014. "Corporate" was 3 ModSpace buildings connected by a porch with a metal shop and gravel yard next door.
That sounds a little too lean to me. For 50 million annually, you could at least shell out a couple grand a month for a commerical office.
Posted on 7/25/14 at 9:01 am to CarRamrod
quote:
How do you just NOT finish homes when you have been paid..
By using that money to start a new project. Like others have said, he spread himself and made a huge risk that, obviously, failed terribly.
Posted on 7/25/14 at 9:02 am to LSUzealot
It was in the plans but they are very young, founded in 2011
They'll level off, work on increasing EBITDA then sell and all get richer
They'll level off, work on increasing EBITDA then sell and all get richer
Posted on 7/25/14 at 9:03 am to LSUzealot
quote:
That sounds a little too lean to me. For 50 million annually, you could at least shell out a couple grand a month for a commerical office.
50 million a year doesn't guarantee huge profits. Who knows what other overhead they're working with.
Posted on 7/25/14 at 9:06 am to Rickety Cricket
See I disagree. This excuse is used too often and applies to some things. For instance, what stout was talking about happened to lots of builders. Things are good, I'm going to build a sub with a loan and things get tight and you start taking parts of draws to pay the bank. Happens to good guys. But a presold with a customer? Draws for work in place? That guy is a thief, there is a difference.
Edit, what I'm trying to say if going through a slow time and struggling to pay a bank is one thing. Justifying stealing from people using that for an excuse is dirty.
Edit, what I'm trying to say if going through a slow time and struggling to pay a bank is one thing. Justifying stealing from people using that for an excuse is dirty.
This post was edited on 7/25/14 at 9:09 am
Posted on 7/25/14 at 9:14 am to Libertariantiger
It's not a justification and it doesn't mean he wasn't thieving from customers, I'm just thinking about what led him to that point. If he had terrible business sense and started just expanding and moving money around thinking he could make it up on the back end, this result is the logical conclusion.
Posted on 7/25/14 at 9:15 am to yellowfin
quote:How do the subs get paid now to waive that lein?
yes they can and will put a lien on your house
doesn't matter if you paid GC either
Is the owner going to have to take out another loan?
Posted on 7/25/14 at 9:17 am to stout
quote:
quote:
1) Drugs have to be involved in some capacity.
Gambling addict
I used to play poker with him back in the 2004-2006 time frame. Haven't seen him in that long, so no idea if he plays poker/gambles at all anymore.
Edit: Was not friends with him, just poker acquaintances.
This post was edited on 7/25/14 at 9:18 am
Posted on 7/25/14 at 9:17 am to stout
quote:
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.
Yep, it happened to this guy in BR not to long ago. I lost 15K from it.
LINK
Posted on 7/25/14 at 9:19 am to J Murdah
quote:
How do the subs get paid now to waive that lein?
Is the owner going to have to take out another loan?
Probably be decided by judge, they'll go after GC first but if nothing there then it's pointless
Posted on 7/25/14 at 9:20 am to BRgetthenet
quote:
Went to school with that guy.
i think i did too, his face looks familiar, think i had some classes with him in CEBA
Posted on 7/25/14 at 9:24 am to J Murdah
Hunter is not:
A. On drugs
B. Cheating on his wife
C. An alcoholic
I think there has been a lot of speculation and bullshite here. But there have also been some people who hit it on the head. Using money from one account to the next probably caught up to him. That's all. No need to add to it.
A. On drugs
B. Cheating on his wife
C. An alcoholic
I think there has been a lot of speculation and bullshite here. But there have also been some people who hit it on the head. Using money from one account to the next probably caught up to him. That's all. No need to add to it.
Posted on 7/25/14 at 9:25 am to Beef Supreme
quote:
NOLA Contractor, LSU Grad, Arrested in 2 ParishesHunter is not: A. On drugs B. Cheating on his wife C. An alcoholic
What about gambling?
Posted on 7/25/14 at 9:33 am to Beef Supreme
Good post beef. I know him as well and he's a good guy and comes from a good family.
This post was edited on 7/25/14 at 9:34 am
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