Consultant, Mike Araj, BOB discussed on Del Walmsley


This business? I don't know. I mean, you know, I'm over fifty so I think they might think, well, he's just been around multifamily so much designing. He just he picked it up. Probably would be my guess. I don't volunteer the fact that I own apartment complexes, it and, you know, kind of feels like I'm showing off in a meeting if I if I brought that up so it, it, I don't, I don't know to be honest with you. But I certainly think like I'll architects. I'm a landscape architects on design, and the swimming pools, and the, the cool Cabanas and entry signs landscaping arrogation that kind of stuff is what we do. And so, you know, on our consultant teams we have architects, and civil engineers, and you see them throw out ideas, and you, you just you can see clearly they don't understand their client and what they're trying to do. And so I I don't. I think I don't make those kind of mistakes in front of our client, you know, making making oddball suggestions that. In bring it up. I could see why you wouldn't bring it up. I mean it'd be a little bears. And you tell the guy sitting across from trying to build an apartment complex you own sixteen department complex it's two thousand six hundred seventy eight units. Give you that look like what, what are you talking? So I could see that. Let's step back. You're now you're doing well in the business, and then two thousand eight kind of snuck up on everybody isn't it? Oh my goodness. Yeah. You know. So I, I was seeing it firsthand all my clients, they're there is large developers. They live and die by getting loans, you know, they put small amounts of equity twenty percent into their properties typically so eighty percent of their, their projects are financed by banks and the lending just disappeared. I mean within like three months it was. Well, there was this funny period, like for the first three months of Bank would only lend a forty percent. But you could go get a second Bank to lend you nother forty percent and you kind of made your eighty percent that way. Well, it's, it's like having two masters, and you just get never make the deals works that they did that for about three to six months. And then finally that went away to. And, and so there was a good almost a year. No one was lending, a dollar. And so, yeah, I, I had about ten employees in two thousand eight I-. I laid everybody off, but to people, I get out of our office building. I moved us that we I finished out my garage, and I moved in my office into Mike Araj and we just hunker down and it was it was, you know, looking back, it was like it was kind of a big deal. But really wasn't. It's nice thing about a consulting business. I can shrink to the size of the volume of the business that I have in. So that's what we did. And we leave for about a year and a half. We just worked out on my Karaj and kind of clawed our way back and the financing started coming back. And, and certainly the funny thing about the whole thing. Was everybody was it? No one could get alone. So no one was like even going into a single family house. Everybody wanted to rent, there was just a surplus of renters. So my clients had a demand, huge demand for their product, but they just couldn't build it because they couldn't get the financing. So even though you had the ability to contract, your business very quickly. Take it back to your garage into some -ployees. Did you have an I'm looking the way to ask this? So it doesn't come out wrong. Did you have any animosity even that was did you did it, Bob you that this is this taken such a large toll on your business and your financial situation? Business. No, you know, when you have you have.

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