James Hancock
Athens, GA (USA)
Role(s):
Founder/Owner/Principal
JGH Construction LLC
Find More Startups
Startup
Location:
Athens
Industry:
Real Estate
Year Founded:
2010
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Limited Liability Company
Description:
Hi,my name is James Hancock. I have been building, flipping, new construction, built my own rental property that i rent out. I come from a Third generation of Building contractors. I was formally James G Hancock II LLC since 1997. The economy and my bankers ruined me. I have I built 5 homes at time. most were specs. I take pride in the quality of work my subs can do. I never cut corners and I am a straight shooter. I was building in a subdivision I bought and was finishing up a house. The other nine were sold or under contract. I'm not greedy so I didn't try to make as much as some of these people who call themselves builders, as you can clearly see if you watch them try. I had 9 more lots when my Banker whom I normally never deal with because he took my bankers place at that bank. I had 3 different banks and established relationships with them over 11 years. I was getting sometimes 10 construction loans at a time,was never late on anything and I have never been sued nor liens or as much as a late payment. I started hearing about the economy and within a few months in the middle of building two houses my bank said they couldn't loan me any more money. Had nothing to do with me miss-managing as I had plenty of equity in everything . I ended up with no cash flow no banks would help and I still had a subdivision to pay on. I paid on that thing for two years. and finally had to turn it back over to the bank. I was living in a house I invested in and had fixed it up so after two years I could sell it and not pay taxes on the profit. I lost my house and had to file for personal bankruptcy which was discharged last march 2010. I dissolved my LLC and opened another under the advice of my lawyers. I need an Investor to let me fix up foreclosures invest in property and overall buy deals that I know will profit big in a year or two. They will appreciate big time and we can all benefit. I am a person who can get things done and make things happen as I have proven myself over and over. I can't do that without money. I have got a lot of ideas on new businesses I'm in one now That I'm doing by my self from one penny at a time. I don't feel sorry for myself and I take responsibility for my mistakes. I'm honest strong minded person who needs not be punished monetarily due to the economy crashing because of stupid minded people and the news. I am now shunned by the same community I helped establish. The builder takes the risk, and I own up to it, but it's unjust as there is no raise or bailout money, write offs, no help from any Government, County, State, nor a 20 dollar credit card, for my contribution to my society in which I paid interest to banks, Permits to the state and Co. nor 41% of what I made off a house went to pay taxes. That's just unconstitutional.