At the age of 26, I was founder of AMERICAN ENGINEERS AND SURVEYORS, INC. in 1967, a civil engineering and land surveying company. In 1972 I purchased land in metro Atlanta with the idea of developing residential lots and selling to builders. The problem however was that the first oil crisis hit and oil went from $5/barrel to $35/barrel almost overnight. Imagine oil going from $100/barrel to $500/barrel today. I had to become a builder in order to move my lots. It took eight long years to work out of this economy. I founded AMERICAN SOUTHERN HOMES CORPORATION and constructed single family homes primarily in North Metro Atlanta. I also founded TRIPLE CREEK CORPORATION and constructed multifamily homes. It was actually less expensive to borrow money on your mastercard than your construction lender for construction loans. I sold a home in 1980 with a mortage rate of 21%. All together I estimate that my companies have developed and constructed about 1500 homes and lots.
Because of my previous experience I predicted the 2006 collapse in homebuilding and was able to retire in 2007 without getting caught in the downturn of our industry. Today I think the time has come to get back into residential home development. There are too many positives for it not to work. One, interest rates are at an all time low. Probably at least 50% of the builders that got burned in 2007 will not return to the market providing less competition. Land and residential lots are at values not seen since the early 1990’s. And most important the inventory of good homes is low and there is a pent up demand for housing in metro Atlanta.
I believe with my engineering, surveying, land development, and construction experience that I have developed over the last 40 years and with my group of subcontractors and suppliers that I am more prepared than ever to continue to be successful in this business. That is why I developed this web site to continue my career in HOMEBUILDING.