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    A Sneek Peak into the Life of a Striving Generational Developer

    TedFuelBy TedFuelDecember 19, 2022
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    The United States is more well-known than any other country in the world for its thriving and pervasive building industry, which has changed the look of its cities and countryside. The business has grown to be one of the most significant contributors to the American economy, supported by steadily increasing real estate values and the enormous tax incentives given to real property owners. 

    The demand for developers grows along with the building sector’s expansion. One mentionable name in this field of Joseph Frank Basile III, a third-generation developer. Joseph provides the company with a unique business plan as the basis for its strategic initiatives and procedures. With numerous properties owned and in the development stage, including office buildings, and multifamily apartments, Joseph has vast experience in land acquisition and development. 

    Joseph also engages in private lending, franchise businesses, and laundry mat operations. In addition to being a state-certified general contractor in over 31 states, including Florida, Georgia, North Carolina, South Carolina, and Tennessee, Joseph holds a bachelor’s degree in psychology and communications. 

    He believes that the developers and general contractors are responsible for bringing new construction projects to life. These highly skilled individuals are essential to the building project, from establishing the structure to adding the finished product. Although the job can be demanding, it can also be gratifying. Developers and general contractors see their hard work come to fruition, watching a structure take shape before their eyes. It is an exciting and fast-paced field, where no two days are the same.

    On the other hand, Joseph has achieved success by being tenacious, loyal, and honest. He feels that honesty and loyalty are the reasons for his success and long-lasting connections in business. Joe lives by the adage that his father taught him: “Make your handshake worth more than your signature.” Following his time in college and living the life of a semi-pro athlete, Joseph decided to join the family-run Development company and take it to the next level. As a result, most Franchises and Corporations now list the nationally recognized JFB Construction & Development as an authorized retail Builder and Developer.

    The generational experience of JFB Construction & Development (“JFB”) in commercial/residential building and development totals is more than 100 years. With expertise in constructing multifamily communities, upscale Residential and equestrian estates, and over 3 million square feet of commercial retail and shopping centers, we offer practical, expert knowledge that has contributed to the high caliber and output for which we are renowned.

    They have the potential to meet all of their client’s expectations through precise scheduling, extensive construction knowledge, and creative problem-solving, and constant communication throughout the construction process. The confidence of its clients and the value we add to each project have helped JFB build its reputation. We have a top-notch staff, which enables us to offer a quick building process from pre-design to close-out.

    JFB takes great pride because most projects come from repeat business and recommendations. They have offered general contracting and development services in over 31 U.S. states and 2 other countries. Multiple reports have stated that more billionaires than any other sector have made their first million in real estate development. Although that may be the case, starting a business as a developer is undoubtedly one of the riskiest ventures to do, except for owning a restaurant. Most first-time developers fail to turn a profit, and a sizeable portion of them fail and go bankrupt; it is safe to state.

    On the contrary, one underlying problem with most inexperienced developers is that they lack the commercial and legal skills necessary to succeed in development. There are numerous other reasons why projects fail as well. The ability to construct a building is different from the ability to establish and manage a development company, obtain the necessary financing, negotiate with banks, subcontractors, and material men, draught the fundamental contracts and contractual rights to ensure a practical construction, investigate and obtain the required zoning and building permits, protect oneself from the potential lien and stop notice rights of the workers and material men, and other related tasks.

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