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o Residential. ATTORNEY: Thank you all for coming out. I'll turn it over to Jim. I'll let you all describe a little about what your vision is and then we'll answer any questions you have. JACOBI: My name is Jim Jacobi and, uh, I'm one of the owners of JEH Homes and, uh, give you a quick little history on us. Uh, JEH Homes, we have, uh, three owners — it's myself, a gentleman named Bill Evans, a gentleman named George Hovis. Uh, we founded our company in 2007, right as the market was starting to downturn and we did that purposely to be opportunistic and, uh, our real pedigree is in actually development and, uh, we used to develop a lot of abandoned lots for big builders and, uh, we had several projects underway and the big guys started missing takedowns, delaying takedowns and then ultimately stopping takedowns. So we had no other option but then to form our own little company. Start building ourselves our own investments. Uh, one thing we really want to do is bring something different to the market. There is an enormous amount of RES3 zonings coming up all over this, um, what did I say? Zonings — no, new developments. They are already in the works, they are already in progress. Uh, zonings that were done a long time ago. And what we are seeing — we track, uh, we actually have our own in-house, uh, strategic marketing firm. Uh, and we track lots, I think what is called VBL Vacant Buildable Lots, and the coming supplies. And we are actually seeing what we call a bubble in those, and we are really concerned that there is going to be, uh, too many guys, too many builders going to build too much of the same thing. And like I said, you know, myself, my little company, I can't play in the same sandbox as the Rylands, the Lennars and the DR Hortons of the world. They have too much — too much money, too much power, and they just, they fight with brass knuckles. And at the end of the day, they're Wall Street driven, revenue driven. And I've got to make a little bit of money. I've got employees, and, uh, you know, expenses. If we lose money it comes out of our wallet. NEIGHBOR: So again, back to the Deed. Restricting the land to only be sold to people aged 55 and older. Are you willing to do that? JACOBI: No, sir. NEIGHBOR: Why not? JACOBI: Because, uh, I don't think I'll get my financing. It's still, for private builders like us, we're — we've done well. You know, a lot of the bankers are still wounded, licking their wounds. And unfortunately, I'm not made of cash, I'm not doing all of this out of my pocket. NEIGHBOR: Sure. JACOBI: I've got to go to the banks. I've got to get a loan and deed restriction will actually impair my ability to get the loan. NEIGHBOR: So you have not acquired the property yet. JACOBI: No, sir, I have the property under contract. Watch entire video here: http://youtu.be/Z5y_v4v4w20 Read zoning application ZA3649 here: http://eStatus.ForsythCo.com/application.aspx?App=ZA3649&ID=207702 ~ ~ ~ ~ ~ Nydeo by Nydia Tisdale for AboutForsyth. Select 1080p for HD quality viewing. Please $upport Nydeos via PayPal here: http://AboutForsyth.net/v3/viewtopic.php?f=1&t=7696.