The future
The thing about gambling on real estate is that no one knows how long it could take to find out whether you made a good bet. But Eagle believes it is positioned for the long haul, even if that means taking some lumps in the near term.
Bryan’s goal for five to 10 years from now is to have Eagle be the leading privately held homebuilder in the state.
Might Eagle entertain a buyout offer at some point? It wouldn’t be the first time. They almost sold to Centex during the boom.
For now, though, Eagle is back in growth mode. Among all the business units, there are more than 120 employees.
Perhaps the biggest risk in the meantime will be the management of those many units in an uncertain economy. Bud and Bryan are homebuilders at heart, and they’ve expanded in a short time to listing commercial properties, writing leases, managing shopping centers and trying to rein in realtors.
They openly admit that they don’t make as much on a house as they used to and that they have to offer customers more for less. And the commercial side of their business is still fledgling at a time when lease rates have plumetted.
But with each deal Eagle does, its reputation grows — and the phones keeping ringing for more distressed deals.
“For every one we get involved with, we probably look at 25,” Bud said.
The future
The thing about gambling on real estate is that no one knows how long it could take to find out whether you made a good bet. But Eagle believes it is positioned for the long haul, even if that means taking some lumps in the near term.
Bryan’s goal for five to 10 years from now is to have Eagle be the leading privately held homebuilder in the state.
Might Eagle entertain a buyout offer at some point? It wouldn’t be the first time. They almost sold to Centex during the boom.
For now, though, Eagle is back in growth mode. Among all the business units, there are more than 120 employees.
Perhaps the biggest risk in the meantime will be the management of those many units in an uncertain economy. Bud and Bryan are homebuilders at heart, and they’ve expanded in a short time to listing commercial properties, writing leases, managing shopping centers and trying to rein in realtors.
They openly admit that they don’t make as much on a house as they used to and that they have to offer customers more for less. And the commercial side of their business is still fledgling at a time when lease rates have plumetted.
But with each deal Eagle does, its reputation grows — and the phones keeping ringing for more distressed deals.
“For every one we get involved with, we probably look at 25,” Bud said.
Great to read this much-deserved praise for Eagle’s accomplishments. American exceptionalism is alive and well.
I couldn’t agree more with Phil. Eagle played the contrarian when it chose to sell its lot inventory to several builders who are no longer in the business. Eagle is now in position for the long haul and diversifying their business. Two good guys have done well together.
Could it be Bryan has the experience and foundation from Sam Kornblau and Realty Industries? Sam was always on top of the
real estate market. Good people make good decisions.
Go Gators!
Interesting story — nice to see an article of this length in BizSense. Congrats to Bryan and Bud for making some very smart moves along the way.
Can you believe a Buckeye actually worked for these guys? I too found myself at a drinking establishment and was never late in the morning. Some of the best homes built in America!
Risk and patience deserve the highest rewards–Yes they had the infinite wisdom of the”Chief” but also the many years of real estate hard knocks they each have endured–don’t think there have not been a lot of sacrifices-much like Florida football Bryan and Bud went for the extra 2 points to win instead of a tie-Congradulations to the biggest risk takers possibly on the East Coast much less Virginia
Great article. Should be required reading for MBA programs. What a perfect partnership for two different personalities and recognizing the strengthes of both. So glad Eagle is the “Eagle” in the Eagle Classic at RCC!